BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Praj Industries Ltd. reported a robust set of numbers beating our as well as street expectations on all fronts.
The company’s orderbook came in at 1,102 crore against our expectation of 877 crore. It continues to see strong demand for grain-based distilleries which formed ~66% of the new orderbook.
The current orderbook stands at 2,878 crore consisting of 75% bio-energy, 20% engineering, and 5% high purity.
Praj’s reported the highest-ever quarterly revenue of Rs 829 crore (our estimate - Rs 689 crore),up 46%YoY and 42% QoQ.
It posted an Ebitda of Rs 74 crore (our estimate – Rs 59 crore), a 3% YoY and 57% QoQ.
Praj reported an Ebitda margin of 9% (beating our estimate – 8.6%), an 88 bps QoQ expansion as operational leverage kicks in and raw material prices show signs of stabilising.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR