Praj Industries, India’s leading industrial biotechnology company, has announced an ambitious goal to triple its revenue to ₹10,000 crore by 2030, leveraging its expertise in bioenergy, modularization solutions, and clean energy technologies. At a press conference held on November 21, 2024, in Pune, Dr. Pramod Chaudhari, along with key company executives, shared their vision for growth amidst a global transition toward sustainable energy solutions.

Sustainable Energy Opportunities and Revenue Goals

Praj Industries is focusing on emerging opportunities in the Energy Transition & Climate Actions (ETCA) sector, which includes blue hydrogen, green hydrogen, green ammonia, and waste-to-energy solutions. According to Dr. Chaudhari, the global energy market is projected to attract investments of up to ₹46 lakh crore by 2030, of which ₹25 lakh crore is expected to be funneled into the clean energy sector.

To meet the rising demand for modular plant setups in these sectors, Praj has invested ₹400 crore in a cutting-edge advanced manufacturing facility in Mangalore, Karnataka. Spread over 123 acres, this facility will support modularization needs and contribute ₹2,000-2,500 crore in annual revenues once fully operational.

Sustainable Aviation Fuel (SAF): A Game-Changer

Praj Industries is also poised to capitalize on the rising demand for Sustainable Aviation Fuel (SAF), thanks to international agreements like CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation). India has set SAF blending targets of 1% by 2027 and 2% by 2028, aligning with global goals:

• EU SAF blending target: 6% by 2028
• USA SAF blending target: 10% by 2028

Highlighting this progress, India’s first commercial passenger flight powered by SAF, produced from sugarcane molasses, flew from Pune to New Delhi with a collaborative effort between Praj Industries, Air Asia, and Indian Oil.

Export Growth and Revenue Diversification

Currently, exports contribute 29% to Praj’s revenue. The company aims to increase this to 50% by 2030, driven by its growing presence in over 100 countries. With BioMobility® and Bio-Prism® platforms, Praj offers sustainable solutions globally:

• BioMobility®: Provides renewable transportation fuel technologies.
• Bio-Prism®: Focuses on renewable chemicals and materials, enabling sustainable decarbonization.

Innovations in Bioenergy and Modularization

Praj’s portfolio spans several high-growth sectors, including:

1. Bioenergy solutions: Delivering renewable fuels and supporting the global circular bioeconomy.
2. Critical process equipment & modularization: Leveraging advanced engineering to meet modularization needs.
3. Breweries and high-purity water systems: Expanding into niche markets with innovative technologies.

The company’s R&D division, Praj Matrix, underpins its ability to innovate in renewable fuels, materials, and energy solutions, keeping it at the forefront of the bioeconomy.

Current Financial Snapshot and Growth Targets

For the financial year 2024, Praj reported revenues of ₹3,400 crore, with robust performance across its business verticals. The company’s financial roadmap includes:

• Increasing annual revenues to ₹10,000 crore by 2030.
• Expanding export contributions from 29% to 50% of total revenues.

Conclusion

With its focus on sustainable energy and advanced manufacturing capabilities, Praj Industries is well-positioned to achieve its threefold revenue growth target by 2030. Its investments in cutting-edge technology, strategic partnerships, and export market expansion solidify its role as a leader in the global bioeconomy. As India and the world transition toward cleaner energy solutions, Praj is set to drive this transformation, making it a promising prospect for investors and stakeholders alike.