Annual Report of Praj Industries Limited for FY 2025-26
PRAJIND · price
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Praj Industries has filed its 40th Annual Report for FY 2025-26 along with the AGM notice. The 40th AGM will be held on August 13, 2026 via video conferencing. A final dividend of 180% has been proposed, with payment by September 11, 2026. Financial performance weakened sharply: consolidated revenue declined to ₹31,679 Mn from ₹32,280 Mn, EBITDA more than halved to ₹1,718 Mn from ₹3,248 Mn, and PAT after minority interest fell to ₹238 Mn from ₹2,189 Mn. EBITDA margin compressed to 5% from 10%, and EPS dropped to ₹1.30 from ₹11.91. Management cited longer-than-expected order conversion cycles, cost escalations, and project mix changes as reasons. The Board appointed Sachin Raole as Joint Managing Director & CFO effective April 30, 2026.
Despite the revenue decline being modest, the steep drop in EBITDA and PAT signals significant margin pressure that may weigh on near-term sentiment, even as the company highlights a strong balance sheet and early signs of order pipeline recovery. Shareholders should note the reduced dividend (180% vs 300% prior year), reflecting the weaker earnings.