News Flash: One Analyst Just Made A Substantial Upgrade To Their Praj Industries Limited (NSE:PRAJIND) Forecasts

Praj Industries Limited (NSE:PRAJIND) shareholders will have a reason to smile today, with the covering analyst making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with the analyst now much more optimistic on its sales pipeline.

After the upgrade, the sole analyst covering Praj Industries is now predicting revenues of ₹31b in 2023. If met, this would reflect a meaningful 17% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analyst was forecasting revenues of ₹28b in 2023. It looks like there's been a clear increase in optimism around Praj Industries, given the solid increase in revenue forecasts.

See our latest analysis for Praj Industries

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Praj Industries' past performance and to peers in the same industry. We can infer from the latest estimates that forecasts expect a continuation of Praj Industries'historical trends, as the 17% annualised revenue growth to the end of 2023 is roughly in line with the 20% annual revenue growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 12% annually. So although Praj Industries is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The highlight for us was that the analyst increased their revenue forecasts for Praj Industries this year. They're also forecasting more rapid revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Praj Industries.

Of course, there's always more to the story. One Praj Industries broker/analyst has provided estimates out to 2024, which can be seen for free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.