Praj Industries in a sweet spot on rising consumption of ethanol

Praj Industries Ltd continues seeing regular gains on the bourses. The stock has returned almost 275% in the current year-to-date.

Praj remains a well-known company engaged in the domestic distillery and brewery installation business. The company continues gaining prominence with government focus on increasing ethanol production. As the same is necessary to reduce the sugar glut, the increased usage of biofuels can reduce the dependence of the country on imports. Thus Praj, with its leadership in biofuel technology and with its continuously improving order pipeline, remains in a sweet spot, say analysts.

The company’s Q4 performance holds testimony. Its sales grew more than 90% year-on-year (up about 18,4% sequentially).