The Hindu Business Line : Praj Industries sets up energy agri solutions facility

To strengthen its biofuel focus, Praj Industries has set up an energy agri solutions group. This was stated here by Mr Shashank Inamdar, Chief Executive Officer and Managing Director, Praj Industries.

Talking to presspersons after the annual general meeting, he said this facility would concentrate on non-food crops such as sweet sorghum, safflower and a variety of grasses. He said for the past two years, it has been cultivating safflower in Maharashtra and Karnataka, and had achieved good production.

Hydrocarbons

Mr Inamdar said the company was looking at commercial production in India and Africa. He said safflower was a four-month crop which did not require much water and was good for mechanical harvesting. Hydrocarbons was another area it was looking into as it could be blended directly with petrol, he added. Sweet sorghum was one of the raw materials that could be used for the production of hydrocarbons, he said.

Q1 performance

Mr Inamdar said the income from operations had decreased and stood at Rs 126.42 crore against Rs 154.76 crore for the corresponding quarter last year. The PAT stood at Rs 25.33 crore compared with Rs 24.75 crore for the corresponding period last year. He added that the order book position was at Rs 800 crore.

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