Praj Industries‘ share price reached a fresh 52-week high of ₹855 on Monday, December 2, 2024. The stock opened at ₹828.80 and climbed to the day’s high before retreating slightly. As of 12:05 PM, the share price was trading marginally lower but remains a strong performer in the market.
With a gain of 48% in CY2024, the stock has been in focus due to the company’s ambitious growth plans and increasing confidence in its long-term potential.
Praj Industries announced its ambitious plan to triple its revenue by 2030, setting a target of ₹10,000 crore compared to its current annual revenue of ₹3,400 crore.
To achieve this, the company aims to increase the share of exports from the current 29% to 50% by 2030, tapping into global opportunities in clean energy and modularisation.
The company has identified the Energy Transition & Climate Actions (ETCA) sector as a key growth driver. This sector includes blue and green hydrogen, green ammonia, and waste-to-energy solutions, all of which have substantial global potential.
Praj highlighted that energy majors globally are expected to invest ₹25 lakh crore in the clean energy sector by 2030. Simultaneously, the traditional oil and gas sector is projected to attract ₹21 lakh crore in investments over the next decade.
To cater to the growing demand for modularisation solutions, Praj has invested ₹400 crore in an advanced manufacturing facility at Mangalore, Karnataka. Spanning 123 acres, the facility is designed to generate annual revenues of ₹2,000-₹2,500 crore at full capacity. This facility positions Praj as a leader in engineering modularisation solutions, enhancing its capability to meet the needs of the burgeoning clean energy sector.
With over four decades of experience, Praj Industries has established itself as India’s most accomplished industrial biotechnology company. Its focus on innovation, integration, and delivery in the energy, environment, and agri-process industries has earned it over 1,000 customer references across 100+ countries on six continents.
Praj Industries has seen a stellar 48% rise in its share price during CY2024, driven by its robust growth strategy and expanding global footprint. While the share price reflects optimism around the company’s future, the realisation of its ambitious targets will depend on consistent execution and favourable market dynamics.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 2, 2024, 2:32 PM IST
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