Praj Industries Ltd logo

Praj Industries Ltd

PRAJIND NSE

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods
Market Cap
₹6,267 Cr
Volatility
Moderate
P/E Ratio
205.18
EBITDA
₹202 Cr
Return on Equity
1.82%
Debt to Equity
0.13
Book Value
₹71.22
EPS
₹15.6
52W High
₹433
52W Low
₹273

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Praj Industries Ltd insights

41 extracted metrics + investor summaries across FY15–FY26.

Log in — free

Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company has been maintaining a healthy dividend payout of 122%
  • Company's working capital requirements have reduced from 21.3 days to 15.9 days

Weaknesses

2
  • Promoter holding is low: 32.8%
  • Company has a low return on equity of 11.7% over last 3 years.

Growth Rate

Revenue Growth
-2.15% ↗
Net Income Growth
-89.13% ↘
Cash Flow Change
365.76% ↗
ROE
-88.51% ↘
ROCE
-76.05% ↘
EBITDA Margin (Avg.)
-44.96% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 42d ago
AI opinion · based on fundamentals
Risk high

Praj Industries trades at a market cap of ₹6,556 Cr with a PE of 272x, reflecting a sharp earnings decline (TTM profit down ~90%) despite a historically strong 5-year sales CAGR of 19%. The company maintains a generous dividend payout of 122% but faces deteriorating profitability and rising working capital requirements.

Bull Case 7
  • Strong long-term revenue track record with 5-year compounded sales CAGR of 19% and 10-year CAGR of 12%, demonstrating sustained business growth capability
  • Healthy dividend payout ratio of 122%, indicating management's commitment to returning capital to shareholders even during earnings downturns
  • Dividend yield of 1.7% provides income support in an industrials stock, above average for the sector
  • 10-year stock CAGR of 14% shows the company has created long-term shareholder value through business cycles
  • 5-year average ROE of 15% suggests the business has historically generated respectable returns on equity capital deployed
  • Price-to-book ratio of 4.97x is moderate for an industrials company with established bioethanol and engineering capabilities, suggesting the market still values the franchise
  • Company operates in the bioenergy and sustainability space which has structural tailwinds from India's ethanol blending programme targeting 20% blending by 2025-26
Bear Case 8
  • TTM profit has declined approximately 90%, signalling a severe earnings collapse that has pushed PE to 272x — an extreme valuation multiple
  • 3-year compounded profit CAGR of -57% shows the earnings decline is not a one-quarter blip but a sustained multi-year deterioration
  • Last year ROE collapsed to just 1%, down from a 3-year average of 12% and 5-year average of 15%, indicating very poor capital efficiency currently
  • Working capital days have increased from 37 days to 62.8 days, a 70% deterioration suggesting slower collections or project execution challenges
  • Promoter holding at 32.8% is relatively low, which may limit alignment between promoter interests and minority shareholders
  • Stock has declined 29% over the past 1 year and delivered negative 4% CAGR over 3 years, underperforming broader indices significantly
  • TTM sales growth is -2% and 3-year sales CAGR is -4%, indicating the topline momentum from the 5-year growth phase has reversed
  • 5-year compounded profit CAGR of -25% and 10-year profit CAGR of -13% show chronic inability to translate revenue growth into sustained earnings growth

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Headwinds 1
  • FY26 PAT plunges 89% Jun 22

    Praj Industries reported FY26 profit after tax of INR 238 Mn, down 89% from INR 2,189 Mn in FY25. Operational income stood at INR 31,679 Mn for the year ended March 31, 2026.

Positives 1
  • New JMD & CFO appointed Jun 18

    Sachin Raole appointed as Joint Managing Director & CFO for a five-year term, with shareholder resolutions receiving over 98% approval in postal ballot.

TL;DR: Praj Industries faces a severe earnings headwind with FY26 PAT collapsing 89% year-on-year despite operational income of INR 31.7 Bn, signaling major margin compression. On the positive side, leadership continuity is reinforced with a new JMD & CFO appointment backed by near-unanimous shareholder support. The trend is clearly deteriorating on profitability, and investors will need clarity on whether margin pressures are transient or structural before confidence can recover.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
737
882
829
1,019
699
816
853
860
640
842
841
845
716
Expenses
661
798
731
888
607
730
780
784
609
786
800
821
686
Operating Profit
75
84
98
131
92
86
73
75
31
56
41
23
30
OPM %
10%
10%
12%
13%
13%
11%
9%
9%
4.9%
7%
4.9%
2.8%
4.2%
Other Income
12
11
9
11
40
14
14
10
9
5
-23
33
20
Interest
1
1
4
4
5
5
4
5
5
5
5
5
4
Depreciation
9
9
11
15
20
21
23
22
25
27
27
27
25
PBT
78
85
92
123
107
74
59
58
10
30
-13
24
21
Tax %
24%
26%
23%
25%
21%
28%
30%
32%
44%
35%
-4%
51%
45%
Net Profit
59
62
70
92
84
54
41
40
5
19
-12
12
12
EPS in Rs
3.19
3.39
3.83
5
4.58
2.93
2.24
2.17
0.29
1.05
-0.67
0.63
0.63
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,012
1,024
915
917
1,141
1,102
1,305
2,343
3,528
3,466
3,228
3,168
3,244
Expenses
919
910
846
865
1,062
1,024
1,192
2,149
3,220
3,094
2,914
3,013
3,093
Operating Profit
93
114
69
52
79
78
112
194
308
372
314
155
150
OPM %
9%
11%
8%
6%
7%
7%
9%
8%
9%
11%
10%
4.9%
4.6%
Other Income
34
18
22
27
32
30
26
36
45
59
89
21
35
Interest
2
2
1
1
1
3
3
3
5
10
18
20
19
Depreciation
38
25
22
24
23
22
22
23
30
44
86
106
106
PBT
86
105
68
53
88
83
113
205
319
377
299
50
61
Tax %
9%
22%
34%
26%
22%
15%
28%
27%
25%
25%
27%
52%
—
Net Profit
78
82
45
39
68
70
81
150
240
283
219
24
30
EPS in Rs
4.3
4.63
2.49
2.18
3.73
3.85
4.42
8.18
13.05
15.42
11.91
1.3
1.64
Div. Payout %
38%
35%
65%
74%
57%
70%
49%
51%
34%
39%
50%
278%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
35
36
36
36
37
37
37
37
37
37
37
37
Reserves
587
620
674
690
708
683
765
879
1,041
1,238
1,345
1,272
Borrowings
17
16
4
6
0
0
0
21
42
169
195
173
Other Liabilities
504
485
473
401
502
442
792
1,281
1,499
1,450
1,581
1,574
Total Liabilities
1,144
1,157
1,187
1,133
1,247
1,162
1,594
2,218
2,619
2,894
3,157
3,056
Fixed Assets
302
272
270
297
290
294
284
286
317
474
567
560
CWIP
1
1
31
4
2
2
1
2
7
43
18
6
Investments
158
145
134
201
211
164
335
463
543
497
428
418
Other Assets
682
738
752
631
744
702
975
1,467
1,752
1,880
2,144
2,072
Total Assets
1,144
1,157
1,187
1,133
1,247
1,162
1,594
2,218
2,619
2,894
3,157
3,056
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
150
51
20
101
33
15
225
188
162
199
43
200
Investing
-77
2
-8
-69
-3
66
-164
-137
-78
-6
75
4
Financing
-40
-68
-4
-25
-43
-98
-6
-44
-93
-124
-161
-187
Net Cash Flow
33
-15
9
8
-14
-18
55
6
-9
70
-42
16
Free Cash Flow
154
39
-16
85
19
8
217
169
127
111
-1
157
CFO/OP
151
76
59
221
68
42
213
120
73
82
46
175
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
101
131
118
105
98
109
127
80
82
68
63
64
Inventory Days
164
79
82
63
76
73
64
86
55
41
56
60
Days Payable
128
162
167
137
140
124
169
106
84
92
106
132
Cash Conversion Cycle
137
48
33
30
33
59
21
60
54
16
12
-8
Working Capital Days
26
46
66
51
39
65
12
4
8
16
32
16
ROCE %
12%
16%
10%
6%
11%
11%
15%
23%
31%
29%
18%
6%

Shareholding Pattern

As of Jun 2026
Promoters 32.81%
Public 31.04%
FIIs 17.75%
DIIs 14.10%
Others 4.31%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
32.91%
32.85%
32.83%
32.83%
32.83%
32.83%
32.82%
32.87%
32.82%
32.82%
32.82%
32.81%
32.81%
32.81%
32.81%
32.81%
32.81%
32.81%
32.81%
32.81%
32.81%
32.81%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
18.87%
18.55%
19.03%
18.63%
17.16%
16.86%
17.52%
17.32%
17.74%
17.75%
DIIs
14.75%
6.86%
6.70%
8.27%
8.78%
9.92%
10.22%
7.69%
7.84%
7.62%
9.23%
12.13%
13.69%
16.66%
17.34%
18.20%
19.51%
17.44%
14.84%
13.64%
12.69%
14.10%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
27.51%
34.56%
33.50%
32.44%
34.73%
33.01%
31.80%
33.73%
33.38%
32.51%
32.16%
30.37%
28.71%
26.43%
25.79%
25.52%
25.78%
28.20%
30.21%
31.95%
32.23%
31.04%
Others
24.83%
25.73%
26.97%
26.46%
23.66%
24.23%
25.16%
25.71%
25.95%
27.05%
25.78%
24.69%
5.93%
5.55%
5.04%
4.85%
4.75%
4.70%
4.62%
4.28%
4.54%
4.31%
No. of Shareholders
99,690
2,00,612
2,03,249
2,07,586
2,79,057
2,76,096
2,61,294
2,79,331
2,83,459
2,77,224
2,96,931
3,14,475
3,24,849
3,27,689
3,49,924
3,53,099
3,51,432
3,86,468
4,03,110
4,06,848
4,00,397
3,78,834

Documents

Frequently Asked Questions about Praj Industries Ltd

What does Praj Industries Ltd do?
Praj Industries Ltd., founded in 1983 is a leading biotechnology and engineering company globally. It offers sustainable solutions in bioenergy, water purification, process equipment, breweries, and wastewater treatment. Company is focused on the environment , energy and farm-to-fuel technology ...
Where is Praj Industries Ltd (PRAJIND) listed?
Praj Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: PRAJIND and BSE: 522205. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Praj Industries Ltd belong to?
Praj Industries Ltd operates in the Capital Goods sector within the Industrial Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Praj Industries Ltd?
Praj Industries Ltd has a market capitalisation of approximately ₹6267.11 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Praj Industries Ltd?
The Price-to-Earnings (PE) ratio of Praj Industries Ltd is 205.18. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Praj Industries Ltd?
Over the past 52 weeks, Praj Industries Ltd has traded between a low of ₹273 and a high of ₹433. This range helps investors understand the stock's price volatility and recent trading levels.
Does Praj Industries Ltd pay dividends?
Yes, Praj Industries Ltd has a dividend yield of 1.08%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Praj Industries Ltd?
Praj Industries Ltd has a Return on Equity (ROE) of 1.82%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Praj Industries Ltd on Tapetide?
On Tapetide, you can view Praj Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Praj Industries Ltd., founded in 1983 is a leading biotechnology and engineering company globally. It offers sustainable solutions in bioenergy, water purification, process equipment, breweries, and wastewater treatment. Company is focused on the environment , energy and farm-to-fuel technology solution. Company has global offices in Thailand, Philippines, and the USA.[1]

Website praj.net
CEO Mr. Ashish Madhukar Gaikwad
Employees 1,844
Listed 1995-10-11
Face Value ₹ 2
Issued Size 18,38,13,088

Explore More

More in Capital Goods → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List