“Our country is paving its way toward greater energy self-reliance”, said Mr. Nitin Gadkari, Union Minister of Road Transport and Highways while inaugurating Praj Industries’ second generation integrated bio-refinery demonstration plant for renewable fuels and chemicals, near Pune. Mr. Rajesh Pande, Director, Maharashtra Natural Gas Limited was also present on this occasion. India’s first integrated bio-refinery demonstration plant is built on Praj’s proprietary platform technology – “enfinity’’ for manufacturing ethanol from a variety of agri-waste.
Recognizing contribution of an Indian entrepreneur to the advancement of the global bio-fuels sector, Miami, USA based publication bio-fuels Digest, has ranked Mr. Pramod Chaudhari, Chairman of PRAJ, among the “Top 100 People in the Advanced Bio-economy” for the year 2017. Mr. Chaudhari’s ranking in the prestigious listing of top 100 people in advanced Bio-economy, has consistently moved up from 86 in 2015 to 53 in 2016, and to 35 in 2017. This reflects his growing stature as a thought leader and industry reformer in the global bio-fuels space.
At the BIO World Congress on Industrial Biotechnology taking place in Montreal, Canada, Praj Industries Ltd (Praj) and Gevo, Inc. (Gevo) unveiled a new commercial opportunity in renewable bioproducts, jointly announcing that Gevo’s proprietary isobutanol technology will now be available for licensing to processors of sugar cane juice and molasses. This follows on the back of Praj’s development work, adapting Gevo’s technology to sugar cane and molasses feedstocks.
A Joint Development Agreement and a Development License Agreement were entered into between Praj and Gevo in November 2015. The goal of these agreements was for Praj to adapt Gevo’s isobutanol technology to using non-corn based sugars and lignocellulose feedstocks. The process technology development was performed at Matrix, Praj’s R&D center located in Pune, India.
Praj has reported an encouraging performance during the 2nd quarter of FY 2017-18 on the back of synergies derived from the recalibration of the business portfolio into three verticals of Bio-Energy, High Purity Systems, and Engineering Businesses. With the economy gaining momentum, Praj is well placed to capitalize on the opportunities as they unravel.
Performance Review for Q2 FY18 – Consolidated:
- Income from operations stood at Rs 207.87 crore (Q1 FY18: Rs. 185.91 crore, Q2 FY17: Rs. 196.67 crores)
- PBT is at Rs. 5.86 crores for the period (Q1 FY18: Rs. 0.49 crore, Q2 FY17: Rs. 6.28 crore)
- PAT is at Rs. 4.74 crores (Q1 FY18: Rs. 0.41 crore, Q2 FY17: Rs. 3.04 crore)
Performance Review for H1 FY18 – Consolidated:
- Income from operations stood at Rs. 393.78 crores (H1 FY17: Rs. 393.36 crores)
- PBT is at Rs. 6.35 crore for the period (H1 FY17: Rs. 11.18 crore)
- PAT is at Rs. 5.15 crore (H1 FY17: Rs. 7.15 crore)