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Consolidated Income from Operations (Q2 FY25): INR 8.16 billion, compared to INR 8.82 billion in Q2 FY24.
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Profit Before Tax (Q2 FY25): INR 744 million, compared to INR 848 million in Q2 FY24.
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Profit After Tax (Q2 FY25): INR 538 million, compared to INR 623 million in Q2 FY24.
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Income from Operations (H1 FY25): INR 15.15 billion, compared to INR 16.19 billion in H1 FY24.
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Profit Before Tax Before Exceptional Items (H1 FY25): INR 1.53 billion, compared to INR 1.62 billion in H1 FY24.
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Profit Before Tax After Exceptional Items (H1 FY25): INR 1.81 billion, compared to INR 1.38 billion in H1 FY24.
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Export Revenue (Q2 FY25): 27% of total revenue.
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Revenue by Segment (Q2 FY25): 68% from Bioenergy, 24% from Engineering, 8% from PHS Business.
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Order Intake (Q2 FY25): INR 9.21 billion, with 94% from the domestic market.
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Order Backlog (as of September 2024): INR 41.5 billion, with 72% domestic orders.
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Cash in Hand (as of September 30, 2024): INR 7.51 billion.
Release Date: October 28, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Praj Industries Ltd (BOM:522205) inaugurated India's first demo facility for biopolymers, showcasing capabilities in renewable chemicals and materials.
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The company is witnessing strong inquiry inflows from international markets such as Brazil, Argentina, and Paraguay for corn ethanol.
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The order book for H1 FY25 is 40% higher than the entire last year for the services segment, indicating strong growth.
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The company has received its first international order for biogas generation from the Philippines, expanding its global footprint.
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Praj Industries Ltd (BOM:522205) is part of significant global initiatives, such as the Global Biofuel Alliance, enhancing its international presence and reputation.
Negative Points
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Lower pace of execution has impacted the top line in the current quarter.
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The company faced a mark-to-market loss on forward contracts due to adverse EUR movement, affecting financial results.
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Export revenue accounted for only 27% of Q2 FY25, indicating a decline in international sales.
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The domestic bioenergy market is awaiting price revisions for ethanol, which could delay further investments.
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The engineering segment saw a decline in order inflow, attributed to timing issues with contract closures.
Q & A Highlights
Q: Can you provide details on the CapEx at Gen X and the MTM losses booked in Q2 FY25? A: The MTM losses were due to adverse EUR movements, resulting in a book loss of 10 crores. For CapEx, the Gen X facility in Bangalore is capitalized, with lease rentals accounted for as depreciation and interest, increasing depreciation by 22 crores in H1 FY25.