The Board of Directors of Praj Industries, the global biofuels technology Company, announced its annual audited results for the fiscal year 2007-08,following the Board Meeting held on 7th May, 2008.

The Company has achieved a sterling growth in margins with PBT at Rs. 174.38 crores(Rs 110.36 crores) and PAT at Rs. 153.54 crores (Rs. 86.52 crores), against growth in total income of 20% at Rs. 740.30 crores (Rs. 616.40 crores). EBIDT margin at 20% has also shown a smart growth over previous fiscal where EBIDT stood at 17%. Basic EPS stood at Rs. 8.55 per Rs. 2/- share.

“The margins have shown significant improvement, despite increase in steel prices(input), largely due to our ability to drive down cost as a result of value engineering exercises undertaken by us as well as the product mix,” said Shashank Inamdar, CEO & MD, Praj.

The Company has also benefited due to its manufacturing activities in the Special Economic Zone at Kandla. The Company has begun exports from this facility since its inauguration in August, 2007.

Based on business concluded till date, orders on hand stand at Rs. 950 crores, with orders from all geographies including a recent US$ 25 million order for two Greenfield plants for Pantaleon in Guatemala, which is one of the largest sugar group in Central America.

“With our global strategy in place and our total solutions for different regions, we can already see a traction in our business from across the world. We have also intensified our activities in the areas of new technologies so as to grow the scope of our business,” said Pramod Chaudhari, Chairman, Praj.

Praj recently inaugurated its Advanced R & D facility near Pune where the Company is conducting research on second generation biofuels. The Company has already filed patents for specific processes and has intensified its R & D activities for sustainable biofuels.

Sourced From: Genesis Burson-Marsteller

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