BUY TO SELL STOCKS FOR SHORT TERM GAINS
14th
FEBRUARY 2016
PRAJ INDUSTRIES BUY POTENTIAL UPSIDE: 17.5%
CURRENT MARKET PRICE: 80.85 TARGET PRICE: 95.00
BSE Code 522205 Market Cap (Crores) 1442.73
NSE Code PRAJIND P/E 22.10
Book Value 35.31 EPS 3.67
Face Value 2 Dividend Yield % 2.00
STOCK RECOMMENDATION

15% @ 90 DAYS – FEBRUARY 2016
- 2 - SARAL GYAN CAPITAL SERVICES
Comparative Chart (Last 1 Year)
Returns: Praj Industries & Nifty:
Nifty: -20.8% Praj Industries: 25.5%
Stock Resistance and Support:
1st
Resistance – 88 1st
Support – 75
2nd
Resistance – 94 2nd
Support – 68

15% @ 90 DAYS – FEBRUARY 2016
- 3 - SARAL GYAN CAPITAL SERVICES
Financials at a Glance:
Standalone Quarterly Results of Praj Industries (Rs. In Crores)
Particulars Sep 2015 Jun 2015 Mar 2015 Dec 2014
Audited / UnAudited UnAudited UnAudited UnAudited UnAudited
Net Sales / Income 174.37 145.33 252.09 177.34
Other Operating Income 0.73 -- -- --
Total Income From Operations 175.1 145.33 252.09 177.34
Consumption of Raw Materials 91.14 70.39 123.32 87.8
Purchase of Traded Goods -- -- -- --
Increase/Decrease in Stocks -0.68 -2.68 0.73 0.08
Employees Cost 31.15 33 27.19 26.73
Depreciation 5.41 5.56 6.75 6.55
Admin. And Selling Expenses -- -- -- --
R & D Expenses 891 -- -- --
Provisions And Contingencies -- -- -- --
Exp. Capitalised -- -- -- --
Other Expenses 39.53 38.73 67.38 51.1
Other Income 3.72 2.32 16.74 3.83
P/L Before Int., Excpt. Items & Tax 12.27 2.65 43.46 8.91
Interest -- -- 0.06 0.11
P/L Before Exceptional Items & Tax 12.27 2.65 43.4 8.8
Exceptional Items -- -- -- --
P/L Before Tax 12.27 2.65 43.4 8.8
Tax 2.09 0.48 7.49 1
0.38 -- -- 0.08
Net Profit/Loss 10.56 2.17 35.91 7.88
Equity Share Capital 35.58 35.49 35.49 35.49
Reserves -- -- -- --
EPS 0.6 0.12 2.02 0.44
No Of Shares with Public (Crores) 11.76 11.72 11.72 11.81
Public Share Holding (%) 66.1 66.02 66.02 66.53

15% @ 90 DAYS – FEBRUARY 2016
- 4 - SARAL GYAN CAPITAL SERVICES
Basis of Recommendation:
i) Technical Analysis
Disclaimer:
Important Notice: Saral Gyan Capital Services is an Independent Equity Research Company.
© SARAL GYAN CAPITAL SERVICES
This Service is provided on an "As Is" basis by Saral Gyan Capital Services. Saral Gyan Capital
Services and its affiliates disclaim any warranty of any kind, imputed by the laws of any
jurisdiction, whether express or implied, as to any matter whatsoever relating to the Service,
including without limitation the implied warranties of merchantability, fitness for a particular
purpose. Neither Saral Gyan Capital Services nor its affiliates will be responsible for any loss or
liability incurred to the user as a consequence of his or any other person on his behalf taking any
investment decisions based on the above recommendation. Use of the Service is at any persons,
including a Customer's, own risk. The investments discussed or recommended through this
service may not be suitable for all investors. Investors must make their own investment decisions
based on their specific investment objectives and financial position and using such independent
advisors as they believe necessary. Information herein is believed to be reliable but Saral Gyan
Capital Services and its affiliates do not warrant its completeness or accuracy. The service should
not be construed to be an advertisement for solicitation for buying or selling of any securities.