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Praj Industries stock rises: Biotechnology company Praj Industries shares surged as much as 7.24 per cent to hit an intraday high of Rs 538 per share on Friday.
The surge came after the company announced its March quarter (Q4FY24) results.
Praj Industries profit rose 4.3 per cent year-on-year (Y-o-Y) to Rs 91.9 crore in Q4FY24, from Rs 88 crore in the same quarter last year (Q4FY23).
Its topline (revenue) grew 1.5 per cent to Rs 1,018.6 crore, as opposed to Rs 1,003.9 crore in the same quarter a year ago.
At the operating front, earnings before interest, taxes,depreciation and amortisation (Ebitda) zoomed nearly 21 per cent to approximately Rs 131 crore in Q4FY24, from a little over Rs 108 crore in Q4FY23.
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Ebitda margin, meanwhile, rose 200 basis points (bps) to 12.8 per cent in the March quarter of FY24, from 10.8 per cent in the March quarter of FY23.
The order intake during the quarter stood at Rs 924 crore.
The Board of Directors have proposed a final dividend of Rs 6 per equity share at 300 per cent of the face value of Rs 2 per equity share, for the financial year ended 31 March 2024, which is subject to the approval of shareholders at the forthcoming Annual General Meeting.
“Our quarterly and annual results reflect business development across different dimensions of our portfolio and our ability to create, deliver and capture value to an increasing base of diverse customers. Praj is on a path to transform its business with additional focus on emerging segments of CBG, SAF, and ETCA in near to midterm future while expanding the share of international business in the overall pie,” said Shishir Joshipura, CEO & MD of Praj Industries.
Set up in 1985, Praj Industries engaged in the manufacture of other special-purpose machinery and engaged in the business of process and project engineering.
The market capitalisation of Praj Industries is Rs 9,716.36 crore, according to Bombay Stock Exchange (BSE).
At 12:04 PM, shares of Praj Industries were trading 5.37 per cent higher at 528.60 per share. By comparison, S&P BSE Sensex was trading 0.24 percent higher at Rs 74,066.19 levels.
