Praj Industries: Technology and Capital Equipment Leader

Rahul Saraogi of Atyant Capital Advisors discussed investing in India and presented his investment thesis on Praj Industries (India: PRJ) at Asian Investing Summit 2021.

Thesis summary:

Praj Industries is a technology and capital equipment company and a world leader in the ethanol, brewery, biogas, and hipurity segments. It has 70% market share in India, a country with an ethanol blending target of 20% (up from 8%). Rahul sees strong growth ahead for the company and its end markets.

Praj has conservative and healthy financials, with $47 million in cash and no debt. Corporate governance is exemplary, with an ethical promoter and efficient capital allocator at the helm.

Ultimately, Rahul sees Praj as more of a technology business than a capital equipment business. He anticipates both earnings expansion and multiple expansion in the coming years.

The full session is available exclusively to members of MOI Global.

Members, log in below to access the full session.

Not a member?

Thank you for your interest.  Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form:

First name:

Last name:

Email address:

City / state / country:

Company:

How did you hear about MOI Global? Select Member referral Staff This website Media / Internet Other

If referral, please provide member's name:

Which of the following applies most closely to you? Select Investment Firm - Head Investment Firm - Analyst or PM Institutional Allocator - Firm C-Level Executive Institutional Allocator - Firm Employee Family Office - Head or Co-Owner Family Office - Employee Non-Investment Firm - C-Level Executive Non-Investment Firm - Employee Other

How do you hope to add value to the community?

Leave this field empty if you're human:

About the instructor:

Rahul Saraogi is the founder and managing director of Atyant Capital Advisors, advisor to the Atyant Capital family of funds. In the last two decades he has focused on the Indian markets. His mission is to consistently identify the best 10-15 investment ideas from among the thousands of publicly- traded Indian corporations. Rahul’s value-based investment philosophy stands apart due to his belief in the paramount importance of corporate governance, specifically how management operates with its minority shareholders in mind. Rahul is the author of Investing in India: A Value Investor’s Guide to the Biggest Untapped Opportunity in the World a definitive guide on navigating the Indian markets published by John Wiley & Sons.

Rahul graduated from the Wharton School of the University of Pennsylvania with a degree in Economics. Outside of Atyant, he practices Vipassana, a 2,500 year-old meditation technique that helps people see things as they really are. Rahul splits time between Chennai, India and Miami.