Praj Industries Ltd Share Price

History of Praj Industries Ltd

Praj Industries Limited (PIL) was incorporated on 8 November, 1985 with the objective of providing cutting edge solutions to the Distillery Industry. The company is engaged in the business of process and project engineering. It caters to both domestic and international markets and further provides design and engineering services. Beginning of Praj's journey into agro-based process industry and the first opportunity came from a sugar mill in India during the inception period. The Company developed SPRANNIHILATOR, a zero-pollution system for treatment of distillery effluents in the year 1986. The system was subsequently given an award for innovative concept. In the period of 1987-88, PIL had received Venture Capital from ICICI. In 1991, Praj established an R & D Center. Many new systems h ...ad been developed in this R & D Center, resulted into seven patents. Praj's expertise in fermentation and distillation was complemented by its expertise in wastewater treatment solutions. The Company's Sprannihilator System was given an award during the year 1992 by the Government of India, Ministry of Chemicals & Fertilizers. The Company undertook in-house development of Non-molasses (Starch based) technology and engineering for grains and tubers in 1993. In the same year 1993, Praj also introduced Brewery Engineering, Plant & Equipment. Praj went to public in the year 1994 and also the company branched out in the international market with orders from Indonesia and Philippines. Between the periods from 1996-1999, PIL had restructured to focus on its primary lines like ethanol technology and equipment, wastewater treatment and brewery engineering and commissioned several grain based ethanol plants in India. The Company had ventured into South America in the year 2000. An office set up in Bogota, Colombia to reach out to South, Central America and Caribbean and partner customers in the region. In the identical year of 2000, Praj manufacturing facility awarded the ISO 9002 and the prestigious ASME U & H stamps for pressure vessels and heating boilers, also an energy saving multi-pressure distillation systems, introduced by the company, became an Industry Standard. For production of Fuel grade ethanol in Vapor Phase Molecular Sieve Dehydration plants the company made collaborates in the year 2000-02. PIL's first MSDH plant in India went on stream in May of the year 2002. During the period of 2000-02, the company had entered into East European Market with engineering order for a grain-based plant, launched Multi-feed & Multi-product Ethanol technology for round the year distillery operation and also bagged an order for Multi-feed & multi-product plant in Maharashtra, for Vaidyanath SSK Limited. In the years between 2002-04, after the successful entry in East European Market, PIL made entry in Australian Market with First technology and engineering order for green-field Fuel ethanol production plant. Launched the innovation Center for advanced applied research in the field of ethanol and brewing process under the name of Matrix, developed Sweet Sorghum to Ethanol process, received ICORE award for the leadership in Biofuels and commissioned a unique wastewater treatment plant in Colombia. This technology was developed in-house. During the year 2005, Praj commissioned two large size ethanol plants in Colombia, exclusive Export Oriented Unit (EOU) of the company was established and the Brewery Manufacturing facility near Pune (Sanaswadi, Unit-2) was acquired. PIL had also acquired worldwide rights for Molecular Sieve based dehydration technology from Delta-T in the same year of 2005. All five large sized ethanol plants of the company in Colombia on stream for commercial production from March 2006 onwards. During the same year 2006, PIL had inked alliance with Meura for High Performance Brewery Mash Filters Praj expands Brewery Business, Skid Mounted Ethanol Plant designed, manufactured and shipped to CSR Australia and also the company had acquired US Engineering Company C.J. Schneider Inc. The Company made a Joint Venture with Aker Kvaerner in the year 2007 and established JV Company under the name of BioCnergy Europa B.B in Netherlands. PIL's fifth manufacturing facility in Kandla (SEZ), India commissioned for bioethanol and biodiesel manufacturing units. In the same year of 2007, Praj had opened office in Brazil made a footprint in Biodiesel business. The Company conferred Star SME Award 2007' by The Business Standard. Pantaleon Group, Guatemala awarded two large ethanol plant contracts to PIL in May of the year 2008. Out of the two, one for 450,000 LPD (40 MGPY) at Bio Etanol in Guatemala and another for 300,000 LPD (27 MGPY) at Ingenio Monte Rosa, Nicaragua. As at 2008, Praj had awarded a contract by Maple Etanol S.R.L., Peru, a subsidiary of Maple Energy plc, a leading integrated energy company, for a 400,000 litres per day distillery for production of fuel grade ethanol based on clarified cane juice as feedstock. The Company has a vision of expanding in the biofuels technology arena. For biodiesel projects, the company will offer in-house developed turnkey solutions including technology, engineering, plant & equipment and project management services. On 16th of January 2014, the Company changed its identity and adopted a new symbol and logo to represent the expanded business portfolio and diversity of client profile as well as business models and many other changes. Also, on 4th April 2014 the Company shifted its Registered Office to 'Praj Tower', S. No.274 & 275/2, Bhumkar Chowk-Hinjewadi Road, Hinjewadi, Pune - 411 057. The new offices qualify it as a green building. During the fiscal, the Company has formed; a wholly owned subsidiary Praj Sur America S.R.L., in Argentina on 24th September, 2013; a wholly owned subsidiary Praj Industries (Namibia) Pty. Ltd. in Namibia on 16th October, 2013. During the year 2015, the company has divested from BioCnergy Europa B. V., The Netherlands and the subsidiary was closed. Hence it ceased to be the subsidiary of the Company. Apart from the above, Pacecon Engineering Projects Ltd., India, Praj HiPurity Systems Ltd. India, Praj Americas, Inc., U.S.A., Praj Far East Co. Ltd., Thailand, Praj Industries (Africa) (Pty.) Ltd, South Africa, Praj Far East Philippines Ltd. Inc., The Philippines, Praj Sur America S.R.L., Argentina and Praj Industries (Namibia) Pty. Ltd., Namibia continue to be subsidiaries of the Company.During the year 2016, the Company acquired balance 20% stake in its subsidiary Company viz. Praj HiPurity Systems Limited thus completing 100% acquisition and making Praj HiPurity Systems Limited a Wholly Owned Subsidiary of the Company. During the fiscal year 2017, the Company has divested from Praj Sur America S.R.L., and the subsidiary was closed with effect from 31st August 2016. Hence it ceased to be the subsidiary of the Company. During the fiscal year 2018, in view of project completion, the Company has closed down its project specific step down subsidiary by name Praj Industries (Tanzania) Limited with effect from 23rd October, 2017. In view of this, it ceased to be the step down subsidiary of the Company. In FY 2018-19, Critical Process Equipment & Skids (CPES) business unit delivered the highly complex equipment for critical applications to an international customer in Hydrocarbon industry. In FY 2018-19, Company expanded its global footprints by entering into two new countries; Bolivia and Kazakhstan. In FY 2019-20, Company partnered with Dedini S/A Indústrias de Base of Brazil to provide advanced technologies for ethanol production for South America, and with Sekab E-Technology AB, Sweden to commercialize technology to produce advanced bio fuels and bio-chemicals from forest residue. In FY 2019-20, Company received a second contract for critical equipment supply from BPCL for their Bargarh 2G refinery. In FY 2019-20, Critical Process Equipment & Skids (CPES) business continued its strategy to establish strong relationships with select Global Technology and EPC players. As a result of several customer centric endeavors, the CPES business has been able to strongly position itself as a strategic supplier to select technology and EPC companies. Praj received a major contract from a US-headquartered customer to supply pressure vessels for an LNG plant based in Louisiana, USA. It is also executing contract for the global major industrial gas company for supplying special purpose vessels. During 2019-20, Praj Industries (Namibia) (Pty) Ltd. was closed down on 11th September 2019 as the project for which it was formed, was fully executed. During FY 19-20, Company developed and deployed technologies to help customers maximize profitability by upgrading existing plant capacities while reducing the energy/ water footprints. With the upgraded plant capacity, customers can divert the feed stock to produce ethanol instead of sugar. Praj's integrated process solutions such as Maximol, PROFIT, SHIFT, help customers in achieving energy footprint reduction and improved operating costs. These solutions help customers reduce greenhouse gas emissions from the plants and effluent generation. In FY 2019-20, Praj Matrix launched an Enzymatic Biodiesel technology which is feed stock agnostic. Praj Matrix is working on optimization of the tocopherol and rice bran wax technology by enhancing yields and productivity. The rice bran wax produced by Praj Technology is being tested by a US- based MNC for coating applications. The Company set up demo plant for converting biomass to biogas that will be used for optimizing and scaling up of the technology. It has joined hands with Sekab E-Technology AB, Sweden, to upgrade and commercialize base technology to produce advanced bio fuels and bio-chemicals from forest residue as feedstock. In November 2020, Company entered in a non-binding MoU with Ministry of Petroleum & Natural Gas for providing technology support to CBG projects under SATAT Scheme. In FY 2020-21, Company made a major breakthrough in the refinery & petrochemical segment with a large order for water and waste water treatment system including Zero Liquid Discharge for their Acrylic/Oxo-Alcohol Project. In FY 2020-21 Parj HiPurity System (PHS) focused on creating value in complex injectable, fermentation and Bio-pharma segments. In FY 2021-22, Company received multiple contracts from a US-headquartered Industrial Gases company for supply of Critical Equipment and Modules used for hydrogen plants. It received large orders for multiple equipment from one of its key customer for supply to LNG projects in USA. During FY 2021-22, Company won few orders for the brownfield projects. On the international business front, Investments in African beer market coming back on track with new inquiries received from major groups. It expanded footprint in the region with key strategic order wins coming in from Niger and Kenya. In Dec' 21, the Company launched an innovative solution to process sugarcane juice in to a new sustainable feedstock BIOSYRUP. During 2022-23, the Company commissioned first 2G Ethanol Plant in IOCL Panipat. It formed a new subsidiary, Praj GenX Limited on 15th March, 2023 for various low carbon fuel projects such as Blue and Green Hydrogen/ ammonia etc. It commissioned two more CBG plants working on industrial effluent and rice straw; commissioned first commercial passenger flight powered by indigenous Sustainable Aviation Fuels; commissioned its first plant based on the Biosyrup as feedstock and commissioned Asia's largest single train 510 KLPD syrup to ethanol plant. The Company commissioned Alcohol to Jet (ATJ) based SAF demonstration plant for end-to-end production in Pune on 20th January 2024. It commissioned the first grain-based ethanol project in 2024. The ethanol project in Brazil using grain as feedstock was commissioned during the year. The Global Biofuels Alliance (GBA), launched in 2024. It commissioned commercial-scale CBG plants based on press mud and rice straw, using RenGas technology. Company achieved a major milestone under its Bio-Prism platform with the commissioning of India's first integrated demonstration facility for biopolymers at Jejuri in FY 2025. The Company's Kandla Unit became operational in FY 2025.