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. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<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

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Forensic Accounting

<p><a href="https://www.smartkarma.com/entities/praj-industries-ltd" target="_blank" data-smartkarma-citation="entities:13831:1" rel="noopener">Praj Industries (PRJ IN)</a> operational performance remains subdued, with the company reporting a growth in its revenue only two out of the past five years.  </p><p>Given the large scale of operations and no debt on its balance sheet size, there is no major pressure on the survival. However, there appears to be inefficient asset allocation coupled with questionable earning and asset quality. Further, the profitability margins have been inconsistent over time and depict a distorted picture. </p>

Praj Industries (PRJ IN) operational performance remains subdued, with the company reporting a growth in its revenue only two out of the past five years.  Given the large scale of operations and no debt on its balance sheet size, there is no major pressure on the survival. However, there appears to be inefficient asset allocation coupled with questionable earning and asset quality. Further, the profitability margins have been inconsistent over time and depict a distorted picture. 

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Praj Industries (PRJ IN)

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

Forensic Analysis: Praj Industries

There is no major pressure on the survival. However, there appears to be inefficient asset allocation coupled with questionable earning and asset...

Nitin Mangal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)