CMP: 77

Praj Industries Limited is an engineering firm that provides solutions for distillery and brewery wastewater treatment and utilization. The Company's fermentation systems include technology packages for multiple feedstock including cane molasses, cane juice and filtrate, starch based raw material like corn, sorghum, wheat, tapioca and tropical sugarbeet.

Praj industries is a decent bet in mid-cap space. Its currently trading at a P/E of little over 20 with good dividend yields of close to 2% in the last 12 months. Minimal liabilities. Revenues have been pretty much static varying from 550 Crores to over 700 Crores in the last 5 years. Profits have fluctuated between 50 Crores to 150 Crores on varying NPM. Recent quarter revenues have broken up from the range which could project to FY12 revenues at over 800 Crores. Considering recession lows of 50, current levels are good to buy for short term and long term gains.