PRAJIND Declares Rs 6 Dividend per Share for FY 2023-24

Praj Industries declares a ₹6 dividend per share for FY 2023-24, amounting to approximately ₹1102.879 million, and is expected to be paid out by 23rd August 2024.

by Damodharan N

Updated Jul 04, 2024

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PRAJIND Declares Rs 6 Dividend per Share for FY 2023-24

Praj Industries Limited has announced a dividend of ₹6 per equity share for the financial year that concluded on 31st March 2024. The decision to declare this dividend was taken during a meeting of the Board of Directors held on 30th May 2024. However, the dividend payout remains contingent upon approval from shareholders at the upcoming Annual General Meeting (AGM).

The proposed dividend, amounting to approximately ₹1102.879 million, reflects a distribution of 300% per equity share with a face value of ₹2 each. Shareholders are scheduled to convene via Video Conferencing/Other Audio Video Visual Means on 25th July, 2024, to finalize this declaration.

Pending shareholder approval, the dividend is expected to be paid out by 23rd August, 2024. The meeting will include the adoption of audited Standalone and Consolidated Financial Statements, along with the re-appointment of Ms. Parimal Chaudhari. 

This announcement underscores Praj Industries' commitment to rewarding its shareholders while maintaining financial prudence and strategic growth objectives.

Praj Industries Annual Report

Praj Industries (Praj) excelled in delivering cutting-edge innovations in biofuels, biomaterials, and energy transition, underscoring its commitment to environmental stewardship and global sustainability goals.

With a steadfast focus on decarbonization and renewable energy, Praj's strategic initiatives at the forefront of the bioeconomy, such as BioMobility and Bio-Prism, have garnered international acclaim.

The company's robust TEMPO model, integrating Technology, Engineering, Manufacturing, Project management, and Operations, continues to drive operational excellence and client satisfaction worldwide. 

Financial Metrics 

The Company's finances for the standalone & consolidated statement in the is given below. 

Particulars

2023-24

2022-23

Change (%)

Turnover

29,896

31,526

-5.17

Other Income

684

506

+35.15

Total Income

30,580

32,032

-4.53

Total Expenses

26,933

28,940

-6.94

Profit Before Tax (PBT)

3,647

3,092

+17.97

Tax Expenses

843

716

+17.74

Profit After Tax (PAT)

2,804

2,376

+18.03

Other Comprehensive Income

-36

-20

-80.00

Total Comprehensive Income

2,768

2,356

+17.47

Balance in Profit & Loss account

10,193

8,090

+26.01

Profit Available for Appropriations

10,858

8,701

+24.79

Dividend

-828

-770

+7.53

Transfer to / (from) SEZ Re-investment

163

159

+2.52

Balance in Statement of Profit & Loss*

10,193

8,090

+26.01

Consolidated Statement 

Particulars

2023-24  

(₹ Crore)

2022-23  

(₹ Crore)

Change (%)

Turnover

34,663

35,280

-1.75

Other income

435

356

+22.19

Total income

35,098

35,636

-1.51

Total expenses

31,323

32,449

-3.47

Profit Before Tax (PBT)

3,775

3,187

+18.42

Tax Expenses

941

789

+19.26

Profit After Tax (PAT)

2,834

2,398

+18.20

Other Comprehensive Income

-50

-16

-212.50

Total Comprehensive Income

2,784

2,382

+16.91

New Tech Absorption:

Praj Industries has made significant strides in energy conservation, technology absorption, value maximization, and innovation in the financial year 2023-24.  

  1. Energy Conservation Initiatives:
    • Retrofitting all operational premises with LEDs for enhanced energy efficiency.
    • Transitioning from diesel-based to LPG-based heat treatment at the Kandla operations to reduce emissions.
    • Implementation of Solar Open Access for the Pune office and operation spaces to achieve 100% green energy availability.
  2. Technology Development and Innovation:
    • Developed technologies like mechanical vapor recompression for thermal energy reduction (up to 80%) and RNG production from distillation streams, achieving significant reductions in greenhouse gas emissions.
    • Innovations in ethanol production from starchy feedstocks, enhancing yield and reducing carbon intensity.
    • Advanced process optimizations for ethanol production, resulting in higher yields and improved economic outcomes.
  3. Technology Absorption and Sustainability:
    • Focus on designing plants and machinery that minimize energy and water consumption, meeting stringent environmental standards.
    • Integration of sustainability principles into plant design to surpass previous benchmarks in yield, water consumption, energy use, and effluents.
  4. International Recognition and Patents:
    • Received significant international patents and recognition for innovations in biofuel and renewable energy technologies.
    • Continued leadership in global markets, with expansions and orders from diverse sectors including biofuels, renewable natural gas, and sustainable aviation fuel.

These efforts underline Praj Industries' commitment to sustainable development and leadership in the bioeconomy, positioning itself as a global leader in innovative bioenergy solutions.

Manufacturing Capability

Praj Industries operates advanced manufacturing facilities in Maharashtra (Sanaswadi, Wada), Gujarat (Kandla), and Mangalore (Padubidri), certified with ASME U & U2, R, and NB Registrations.

These sites ensure compliance with global standards while prioritizing Health Safety and Environment (HSE) norms. The Mangalore facility exemplifies Industry 5.0 with collaborative robots ('cobots'), enhancing operational efficiency. Praj's Zero D program focuses on quality, efficiency, and sustainability, optimizing productivity and strengthening the global supply chain.

Future Outlook 

Praj is leading efforts to reduce greenhouse gas emissions and achieve net-zero goals. Supported by India's promotion of Compressed Biogas (CBG) and initiatives in Bio-Manufacturing, Praj anticipates robust growth in Renewable Biofuels and Renewable Chemicals & Materials sectors, propelled by favorable policies and advancing technology
Read the full Report and Notice Here

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Praj Industries Limited

Praj Industries, headquartered in Pune, India, started as a supplier of ethanol plants and has grown into a global leader in bio-based technologies and engineering.

They specialize in sustainable solutions across bioenergy, high purity water systems for pharmaceutical and biotech industries, critical process equipment for various sectors like oil & gas, and industrial wastewater treatment.

Praj serves clients in over 100 countries across five continents and is known for its R&D center, Praj Matrix, which develops innovative technologies including second-generation ethanol.

With world-class manufacturing facilities and a workforce of around 1200 professionals, Praj continues to innovate in renewable fuels and chemicals, aiming to enhance global environmental sustainability and quality of life.

PRAJIND Declares Rs 6 Dividend per Share for FY 2023-24 - FAQs

1. What is Praj Industries' dividend per share for FY 2023-24?        

Praj Industries' dividend per share for FY 2023-24 is ₹6 per equity share.

2. When was the dividend decision announced?  

The dividend decision was announced on 30th May, 2024.

3. When is the dividend payout expected?  

By 23rd August, 2024, pending shareholder approval.

4. How much is the proposed dividend payout in rupees?  

The proposed dividend payout in rupees si approximately ₹1102.879 million.

5. What is the dividend percentage per equity share?  

The dividend percentage per equity share is 300% of face value (₹2 per share).

6. When is the Annual General Meeting (AGM) scheduled for final approval?  

The Annual General Meeting (AGM) scheduled for 25th July, 2024.

7. Who is proposed for re-appointment at the AGM?  

The proposed for re-appointment at the AGM is Ms. Parimal Chaudhari.

8. What is Praj Industries' strategic focus areas?  

Biofuels, biomaterials, energy transition, and environmental stewardship.

9. What is the turnover for Praj Industries in FY 2023-24 (standalone)?  

The turnover for Praj Industries in FY 2023-24 is ₹29,896 crore.

10. What was the turnover in FY 2022-23 (standalone)?  

 The turnover in FY 2022-23 ₹31,526 crore.

11. What is the change in turnover percentage from FY 2022-23 to FY 2023-24 (standalone)?  

 The change in turnover percentage is Decreased by 5.17%.

12. What is Praj Industries' Profit Before Tax (PBT) in FY 2023-24 (standalone)?  

 Praj Industries' Profit Before Tax (PBT) is ₹3,647 crore.

13. What was the PBT in FY 2022-23 (standalone)?      

 The PBT in FY 2022-23 is  ₹3,092 crore.

14. What is the change in PBT percentage from FY 2022-23 to FY 2023-24 (standalone)?  

 The change in PBT percentage is increased by 17.97%.

15. What is Praj Industries' Profit After Tax (PAT) in FY 2023-24 (standalone)?  

Praj Industries' Profit After Tax (PAT)  is ₹2,804 crore.

16. What was the PAT in FY 2022-23 (standalone)?  

The PAT in FY 2022-23 is  ₹2,376 crore.

17. What is the change in PAT percentage from FY 2022-23 to FY 2023-24 (standalone)?  

 The change in PAT percentage is Increased by 18.03%.

18. What is Praj Industries' Total Income in FY 2023-24 (consolidated)?  

 Praj Industries' Total Income in FY 2023-24 is ₹35,098 crore.

19. What was the Total Income in FY 2022-23 (consolidated)?  

 The Total Income in FY 2022-23 is ₹35,636 crore.

20. What is the change in Total Income percentage from FY 2022-23 to FY 2023-24 (consolidated)?  

 The change in Total Income percentage decreased by 1.51%.

21. What is Praj Industries' Profit Before Tax (PBT) in FY 2023-24 (consolidated)?    

Praj Industries' Profit Before Tax (PBT) in FY 2023-24 is ₹3,775 crore.

22. What was the PBT in FY 2022-23 (consolidated)?  

The PBT in FY 2022-23 is ₹3,187 crore.

23. What is the change in PBT percentage from FY 2022-23 to FY 2023-24 (consolidated)?  

The change in PBT percentage from FY 2022-23 to FY 2023-24 Increased by 18.42%.

24. What is Praj Industries' Profit After Tax (PAT) in FY 2023-24 (consolidated)?  

Praj Industries' Profit After Tax (PAT) in FY 2023-24 is ₹2,834 crore.

25. What was the PAT in FY 2022-23 (consolidated)?        

 The PAT in FY 2022-23 is ₹2,398 crore.

26. What is the change in PAT percentage from FY 2022-23 to FY 2023-24 (consolidated)?  

 The change in PAT percentage is increased by 18.20%.

27. What is Praj Industries' approach to energy conservation?  

Retrofitting with LEDs, transitioning to LPG, and implementing Solar Open Access.

28. What are some technological innovations by Praj Industries in FY 2023-24?      

Mechanical vapor recompression, RNG production, ethanol production enhancements.

29. What international recognition did Praj Industries receive?  

Patents and accolades for biofuel and renewable energy technologies.

30. How many manufacturing facilities does Praj Industries have?  

Four facilities in Maharashtra (Sanaswadi, Wada), Gujarat (Kandla), and Mangalore (Padubidri).

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