Audited Financial Results for quarter & year ended 31st March, 2026.
PRAJIND · price
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Praj Industries reported standalone PAT of Rs 2,644.3 million for FY26, up 120% from Rs 1,204.9 million in FY25, driven by strong revenue growth and improved margins. Standalone revenue from operations grew 6.1% to Rs 27,446.6 million. However, consolidated results tell a different story: consolidated PAT collapsed 89% to Rs 238.5 million from Rs 2,189.3 million, while consolidated revenue declined 1.9% to Rs 31,678.8 million. The stark divergence between standalone and consolidated results indicates significant losses or cost pressures from subsidiary operations. Exceptional items of Rs 80.6 million (consolidated) relate to labour code adjustments. Operating cash flows remained healthy at Rs 2,465 million (standalone) and Rs 2,001 million (consolidated). The Board proposed a final dividend of Rs 3.60 per share. MSKA & Associates LLP issued unmodified audit opinions.
The massive gap between standalone and consolidated profitability is a red flag — subsidiary operations severely underperformed. Shareholders should monitor subsidiary performance closely. The standalone business shows strong fundamentals with 120% PAT growth, but the stock may face pressure due to weak consolidated results.