Multibagger Praj Industries share price rises 14%: Targets 3 times revenue growth by 2030 | Stock Market News
Source: Live Mint
Stock Market Today: Multibagger Praj Industries share price gained 14% during the intraday trades on Friday. The company is targeting 3 times revenue growth by 2030 as per its release on the exchanges
Praj Industries share price opened at ₹676.00 on the BSE on Friday . only slightly higher than the previous closing price of ₹675.90. Praj Industries share price nevertheless gained to touch intraday highs of ₹769.60, marking gains of close to 14% as the company highlighted new opportunities on the horizon.
Praj targets 3 times growth by 2030
As per the release by Praj Industries it is aiming for three times revenue growth by 2030 tapping new opportunities on the horizon.
By 2030, Praj Industries wants to treble its income with an emphasis on biopolymers, sustainable aviation fuel, and the energy transition. Chairman Dr. Pramod Chaudhari and important executives presented strategies to take advantage of new prospects during a news conference.
Analysts Views
As Praj Industries aim to triple its revenue to Rs10000 Crore by FY30, Amit Anwani, Research Analyst, PL Capital – Prabhudas Lilladher said that the Opportunities visible in Sustainable Aviation Fuel, Biopolymers and energy transition & climate actions (ETCA) which will aid in meeting the target by FY30.
Company also has highlighted that further opportunities in ETCA will be provided by blue and green hydrogen, green ammonia in domestic as well as export markets. Energy majors are expected to invest Rs25 trillion or ₹25 Lakh Crore in clean energy sector by FY30 and traditional oil and gas segment will attract new investment to tune of Rs21 Trillion or ₹21 Lakh Crore in next 10 years.
To meet the rising demand, Praj has developed engineering capabilities in modularization and have also set up a manufacturing facility at an investment of ₹400 Crore which is expected to yield annual revenues in the range of Rs2000-2500.
Analysts Target price
Anwani said that the stock is currently trading at Price to earnings ratio of 39.4 times,28.6 times and 21.5times, FY25, FY26 and FY27 estimates respectively. Anwani has a Buy’ rating with a Target Price of Rs804
Multibagger Returns
Praj Industries share price having risen 583.5 in last 5 years has given Multibagger returns to the investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
