Praj Industries Ltd

About [ edit ]

Praj Industries is engaged in the business of process and project engineering. The company caters to both domestic and international markets. Further, the company also provides design and engineering services.(Source : 202003 Annual Report Page No:85)

  • Market Cap 3,222 Cr.
  • Current Price 176
  • High / Low 184 / 43.0
  • Stock P/E 59.8
  • Book Value 39.3
  • Dividend Yield 1.54 %
  • ROCE 11.2 %
  • ROE 9.04 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 67.07%

Cons

  • Stock is trading at 4.47 times its book value
  • The company has delivered a poor sales growth of 1.72% over past five years.
  • Promoter holding is low: 32.92%
  • Company has a low return on equity of 7.35% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
275 192 251 330 368 212 294 300 296 130 260 348
243 184 237 302 329 203 277 275 264 143 243 308
Operating Profit 31 7 14 28 39 8 17 25 32 -13 18 40
OPM % 11% 4% 6% 8% 11% 4% 6% 8% 11% -10% 7% 11%
Other Income 10 3 5 7 7 8 7 6 5 5 4 5
Interest 0 0 0 0 0 1 1 1 1 1 1 1
Depreciation 6 6 6 6 5 6 6 6 5 6 6 6
Profit before tax 35 4 13 29 41 10 17 24 32 -15 16 39
Tax % 23% 22% 30% 24% 19% 12% 6% 15% 22% 28% 27% 27%
Net Profit 27 3 9 22 33 9 16 21 25 -10 11 28
EPS in Rs 1.48 0.19 0.49 1.23 1.83 0.48 0.88 1.13 1.36 -0.57 0.62 1.54
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
954 734 665 1,003 919 986 1,012 1,024 915 917 1,141 1,102 1,034
819 641 613 911 834 907 919 910 846 865 1,062 1,024 957
Operating Profit 135 94 52 92 85 79 93 114 69 52 79 78 76
OPM % 14% 13% 8% 9% 9% 8% 9% 11% 8% 6% 7% 7% 7%
Other Income 20 46 25 45 31 23 34 18 22 27 32 30 20
Interest 1 0 0 1 2 1 2 2 1 1 1 3 3
Depreciation 9 11 11 16 22 24 38 25 22 24 23 22 22
Profit before tax 145 128 66 119 92 77 86 105 68 53 88 83 72
Tax % 19% 6% 13% 41% 23% 27% 9% 22% 34% 26% 22% 15%
Net Profit 121 120 58 68 68 55 76 82 45 39 68 70 54
EPS in Rs 6.61 6.47 3.13 3.73 3.83 3.08 4.30 4.63 2.49 2.18 3.73 3.85 2.95
Dividend Payout % 27% 22% 40% 43% 42% 72% 38% 35% 65% 74% 57% 70%
Compounded Sales Growth
10 Years:4%
5 Years:2%
3 Years:6%
TTM:-12%
Compounded Profit Growth
10 Years:-5%
5 Years:0%
3 Years:15%
TTM:-32%
Stock Price CAGR
10 Years:10%
5 Years:16%
3 Years:28%
1 Year:95%
Return on Equity
10 Years:9%
5 Years:8%
3 Years:7%
Last Year:9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
37 37 37 36 35 35 35 36 36 36 37 37 37
Reserves 398 491 522 517 535 547 587 620 674 690 708 683 684
Borrowings 18 0 0 24 16 21 17 16 4 6 0 0 0
487 356 468 670 659 670 504 485 473 401 502 442 514
Total Liabilities 940 884 1,027 1,247 1,246 1,274 1,144 1,157 1,187 1,133 1,247 1,162 1,235
140 138 142 241 247 323 302 272 270 297 290 294 287
CWIP 14 7 14 10 48 2 1 1 31 4 2 2 3
Investments 195 266 259 155 163 91 158 145 134 201 211 164 228
592 473 612 841 788 859 682 738 752 631 744 702 717
Total Assets 940 884 1,027 1,247 1,246 1,274 1,144 1,157 1,187 1,133 1,247 1,162 1,235

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
91 131 113 26 28 -3 150 51 20 101 33 15
-60 -88 -74 36 26 19 -77 2 -8 -69 -3 66
-21 -44 0 -69 -58 -40 -40 -68 -4 -25 -43 -98
Net Cash Flow 10 -1 40 -7 -4 -24 33 -15 9 8 -14 -18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 38% 25% 12% 18% 15% 12% 12% 16% 10% 6% 11% 11%
Debtor Days 71 59 123 120 125 119 101 131 118 105 98 109
Inventory Turnover 3.10 2.80 4.74 4.53 2.98 2.67 2.29 2.89 4.60 5.13 5.94 4.70

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
33.33 33.23 33.23 33.06 33.01 32.98 32.97 32.95 32.92 32.92 32.92 32.92
13.24 13.68 14.63 13.83 14.49 13.48 13.53 12.94 12.76 12.14 12.26 12.25
18.62 17.76 17.22 19.08 18.28 17.27 16.86 15.93 16.52 16.15 16.05 16.12
0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
34.75 35.33 34.93 34.03 34.22 36.27 36.64 38.18 37.80 38.79 38.77 38.71

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