Pramod Chaudhari feels the move to increase ethanol blending from current 3% to 10% will help companies get a lot of foreign exchange and self-reliance.
Praj Industries has been on focus post reports suggesting that enthnol blending with petrol could become a reality soon. Praj, which provides technology and machinery for ethanol production, is likely to benefit from the move.
Also Read: Sugar cos rally, govt may thrust ethanol blending in petrol
In an interview to CNBC-TV18's Ekta Batra and Reema Tendulkar, executive chairman Pramod Chaudhari said the current ethanol blending stands at around 3 percent levels against the previous government's vision of 10 percent. He hopes the new government will help in bringing it to 5 percent level.
He, however, doesn't see increasing the level to 10 percent as a major game changer, but feels that it can surely pave the way forward.
The original intention of the previous government was to bring the ethanol blending to 20 percent by 2017. So if that goes from 3 percent to 10 percent, the move will give signal that growth in this business is possible, said Chaudhari, adding that it will give the related companies a lot of foreign exchange and self-reliance.
Transcript to follow
Praj Industries stock price
On June 04, 2014, Praj Industries closed at Rs 77.20, up Rs 1.10, or 1.45 percent. The 52-week high of the share was Rs 77.85 and the 52-week low was Rs 30.00.
The company's trailing 12-month (TTM) EPS was at Rs 3.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 21.93. The latest book value of the company is Rs 35.53 per share. At current value, the price-to-book value of the company is 2.17.
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