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The stock has a ROE of 25 per cent and a ROCE of 27 per cent with multibagger returns of 570 per cent in just 3 years.
India achieved a significant milestone in the decarbonization of its aviation sector with the successful flight of the country's first commercial passenger flight using an indigenously produced Sustainable Aviation Fuel (SAF) blend. AirAsia India flight i5-767 flew from Pune to New Delhi, powered by a blend of indigenous SAF supplied by Indian Oil Corporation Ltd (IOCL) in partnership with Praj Industries Ltd.
This achievement demonstrates the commitment of Air India group, IOCL, and Praj Industries, with the support of the Ministry of Civil Aviation and the Ministry of Petroleum and Natural Gas, to develop and promote indigenous solutions for sustainable aviation.
The SAF was produced indigenously by Praj Industries using captive agricultural feedstock, in line with India's Aatmanirbhar Bharat Abhiyan mission. Praj Industries collaborated with Gevo Inc., which developed a breakthrough Alcohol-to-Jet (ATJ) technology for SAF production. The SAF samples underwent rigorous testing at IOCL laboratories before being blended for the special flight, symbolizing a step towards the widespread adoption of SAF in India.
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Describing the occasion as a significant milestone in the country's efforts towards Net Zero emissions by 2070, Mr Hardeep Singh Puri said, “I am glad to witness this historic occasion and receive the first commercial flight fuelled by indigenous SAF blended ATF. This would be the first domestic commercial passenger flight with SAF blending up to 1 per cent as demonstration mode. By 2025, if we target to blend 1 per cent SAF blending in Jet fuel, India would require around 14 crore litres of SAF/per annum".
On Friday, shares of Praj Industries Ltd surged 0.01 per cent to Rs 358.80 per share. The stock traded at an intraday high of Rs 364.65 and an intraday low of Rs 352.95.
The stock has a ROE of 25 per cent and a ROCE of 27 per cent with multibagger returns of 570 per cent in just 3 years. Do you own Praj Industries, stock in your portfolio?