Praj Industries Limited has informed the Exchange about Investor Presentation
PRAJIND · price
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Awaiting price reaction for this filing.
Praj Industries reported a sharp decline in Q3 FY26 performance, with consolidated net profit turning into a loss of INR 124 Mn versus a profit of INR 411 Mn in Q3 FY25. Consolidated operating income fell 1.3% YoY to INR 8,415 Mn, while EBITDA dropped 34.9% to INR 473 Mn, pushing EBITDA margins down 290 bps to 5.62%. For 9M FY26, consolidated net profit collapsed 93.2% YoY to INR 122 Mn with EBITDA margins contracting to 5.79% from 10.59% a year earlier. Management attributed the margin pressure to a 1% hit from lower export revenue, rationalization of performance incentives, and a one-time INR 344 Mn impact from new Labour Codes on gratuity and leave liabilities. Order intake for the quarter stood at INR 9,140 Mn with a healthy order backlog of INR 44,910 Mn, supported by new wins including a CCUS skids order from a global oil major, India's largest greenfield brewery contract, and a first contract under the National BioE3 policy.
The steep earnings decline and margin contraction, partly driven by one-off Labour Code provisions, signals significant near-term pressure on profitability despite a stable order book. The stock has already corrected roughly 70% from its 52-week high, suggesting much of the negative sentiment may be priced in, but recovery in margins will be key for any further re-rating.