Profit before tax increased 44.5% year on year to Rs 112.81 crore. EBITDA stood at Rs 108.3 crore in Q4 FY23, registering growth of 38.8% as against Rs 78 crore posted in corresponding quarter last year. EBITDA margin improved 140 bps to 10.79% in Q4 FY23 as against 9.39% in Q4 FY22. During the quarter, order intake stood at Rs 1,038 crore. On full year basis, the company's net profit jumped 59.6% to Rs 239.82 crore on 50.6% increase in income from operations to Rs 3,528.04 crore in FY23 over FY22.

As on 31 March 2023, the consolidated order backlog stood at Rs 3,414 crore from Rs 2,878 crore in FY22, up 18.62% YoY.

Shishir Joshipura, chief executive officer (CEO) & managing director (MD), Praj Industries said, “Energy transition and climate action (ETCA) agenda has opened new opportunities for our engineering businesses. Expansion of mobility solutions beyond surface mobility which includes SAF are expanding horizons of opportunity for our business. We are confident of meeting expectations of all our stakeholders, as we move forward on our sustainable journey.”

Meanwhile, the board has recommended a final dividend of Rs 4.50 per equity share for FY23, subject to approval of shareholders.

Further, the company's board has given its in-principle approval for forming a joint venture company (JVC) with Indian Oil Corporation (IOCL), with 50:50 equity participation. This JVC would set up biofuel production facilities and marketing of CBG, Ethanol, SAF and various coproducts and intermediates. It has proposed that IOCL and Praj Industries shall infuse an initial capital amount on Rs 50 lakhs each into the JVC.

Praj Industries is engaged in the business of process and project engineering. The company caters to both domestic and international markets. Further, the company also provides design and engineering services.