Q4 2024 Praj Industries Ltd Earnings Call Transcript
Key Points
- Praj Industries Ltd (BOM:522205) achieved the global number one ranking in the hottest top-50 companies in Advanced Bioeconomy by the US-based Biofuel Digest.
- Successful commissioning of commercial scale CBG plants based on press-mud and dry straw, achieving benchmark results for yield.
- Strong growth in the services business, with a 2x increase in FY24 and significant growth expected in both domestic and international markets in FY25.
- The company has a healthy order backlog of INR38,550 million as of March 2024, with 71% of domestic orders.
- Praj Industries Ltd (BOM:522205) has commenced commercial production for its new GenX facility in Mangalore in February, with all customer approvals successfully completed.
- Order inflow has been subdued, especially in the last couple of quarters, due to the mandated realignment of sugarcane-based feedstock on product mix.
- The mandated realignment of sugarcane-based feedstock slowed down order execution and finalization for ethanol projects based on sugary feedstocks.
- The low-carbon ethanol opportunity in the United States is expected to gain momentum only after the notification of 45Z under the IRA Act.
- The execution cycle for some Engineering projects can be longer than Bio-Energy projects, potentially extending up to 18 months.
- The company is still awaiting final approval for the formation of the JV with IOCL, which is delaying the formal business plan for the JV.
Ladies and gentlemen, good day, and welcome to the Praj Industries Limited Q4 and FY24 earnings conference call. (Operator Instructions) I now hand the conference over to Mr. Anuj Sonpal from Valorem Advisors. Thank you, and over to you, sir.
Thank you. Good morning, everyone, and a very warm welcome to you all. Sorry, it's 12:00 PM, so good afternoon, everyone. My name is Anuj Sonpal from Valorem Advisors. We represent the Investor Relations of Praj Industries Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the fourth quarter and financial year ended 2024.
Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently
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