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Multibagger Stocks Tips: Shares of Praj Industries have performed well due to increasing consumption of ethanol and the government’s commitment to increase ethanol production. This multibagger stock has given returns of around 300% in the last one year. It has given 180% return till 16th August in 2021. From the level of Rs 68 in August 2020 to Rs 341 per share now, it has continued to give multibagger returns.
what does this company do
Praj Industries is involved in the domestic distillery and brewery installation business. The headquarter of this company is located in Pune. The company is a supplier of Ethanol Platons and a global leader in work for sustainable solutions for Bioenergy, High Purity Water, Critical Process Equipment, Breweries and Industrial Wastewater Treatment. The company has grown rapidly after the government focused on increasing ethanol production.
The transformation from an engineering company into a renewable fuel and chemical solutions provider has been good for Praj Industries. Analysts expect the company to benefit more from its leadership in ethanol and biofuel technology going forward.
Strong profit earned in June quarter
Praj Industries posted a net profit of Rs 22 crore for the quarter ended June, as against a net loss of Rs 10.5 crore in the corresponding quarter of the previous financial year. The company’s revenue from operations has increased to Rs 386 crore from Rs 129.5 crore during the same quarter last year.
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