Praj Industries Limited has informed the Exchange regarding a press release dated May 28, 2026, titled "Presentation on Audited Financial Results for the quarter and year ended 31st March, 2026".
PRAJIND · price
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Praj Industries reported sharply declining FY26 results with consolidated net profit plummeting 89.1% YoY to INR 238 Mn. Standalone EBITDA fell 41.5% to INR 1,746 Mn with margins compressing to 6.75% from 10.87% in FY25. Q4 standalone margins hit a low of 4.97% vs 11.01% a year ago. Revenue declined marginally (standalone -5.8%, consolidated -1.9%) but margins were devastated due to overcapacity in India's 1G ethanol sector impacting project execution. The order book remains healthy at INR 43,050 Mn with Q4 order intake of INR 6,580 Mn. The company remains net debt free (Net Debt/Equity at -0.16x). International markets in Brazil and Central America show policy tailwinds but funding remains a challenge.
Severe margin deterioration signals structural headwinds in core ethanol business. While the order backlog provides revenue visibility, the sharp profit decline and near-zero PAT margins on consolidated basis (0.75%) indicate cost pressures and project execution challenges that could keep the stock under pressure until margins recover.