External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Praj Industries posted a robust set of numbers for the quarter with the company’s performance inline with our expectations</li><li>Company’s Bio Energy orderbook grew by 6% q-o-q &amp; 146% y-o-y on account of strong demand for grain based distelleries</li><li>We maintain our BUY with a revised target price of Rs 477 (from Rs 472 earlier) valuing the company at 39x (~30% discount to TTM PE of 55x) FY23 EPS, implying an upside of 19% from the CMP 400.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Praj Industries posted a robust set of numbers for the quarter with the company’s performance inline with our expectationsCompany’s Bio Energy orderbook grew by 6% q-o-q &amp; 146% y-o-y on account of strong demand for grain based distelleriesWe maintain our BUY with a revised target price of Rs 477 (from Rs 472 earlier) valuing the company at 39x (~30% discount to TTM PE of 55x) FY23 EPS, implying an upside of 19% from the CMP 400.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Praj Industries: Continued Traction in New Order Book Growth & Execution

<ul><li>Praj inks MoU with IndianOil for accelerating transition to cleaner skies through production of Alcohol to Jet fuels.</li><li>Praj is witnessing strong growth in its key segment Bio Energy in Domestic business, the overall demand-supply gap of Ethanol, increased interest in grain based distelleries</li><li>We maintain our BUY with a revised target price of Rs 472 valuing the company at 35x (~20% discount to TTM PE of 45x) FY23 EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Praj inks MoU with IndianOil for accelerating transition to cleaner skies through production of Alcohol to Jet fuels.Praj is witnessing strong growth in its key segment Bio Energy in Domestic business, the overall demand-supply gap of Ethanol, increased interest in grain based distelleriesWe maintain our BUY with a revised target price of Rs 472 valuing the company at 35x (~20% discount to TTM PE of 45x) FY23 EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Praj Industries: Reaffirming Our Positive Outlook

India

Praj Industries Limited is an engineering firm that provides solutions for distillery and brewery wastewater treatment and utilization. The Company's fermentation systems include technology packages for multiple feedstock including cane molasses, cane juice and filtrate, starch based raw material like corn, sorghum, wheat, tapioca and tropical sugarbeet.

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Praj Industries (PRJ IN)

Praj Industries: Continued Traction in New Order Book Growth & Execution

We maintain our BUY with a revised target price of Rs 477 (from Rs 472 earlier) valuing the company at 39x (~30% discount to TTM PE of 55x) FY23...

Axis Direct

Praj Industries: Reaffirming Our Positive Outlook

Praj inks MoU with IndianOil for accelerating transition to cleaner skies through production of Alcohol to Jet fuels. Praj is witnessing strong...

Axis Direct

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