Presentation on Audited Financial Results for the quarter and year ended 31st March, 2026 (Standalone and consolidated).
PRAJIND · price
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Praj Industries reported a sharp deterioration in FY26 consolidated performance with revenue of INR 31,679 Mn (down 1.9% YoY) and EBITDA plummeting to INR 1,518 Mn (down 51.7%), with margins compressing to 4.79% from 9.74% a year ago. Net profit collapsed 89.1% to just INR 238 Mn, and diluted EPS fell from INR 11.91 to INR 1.30. Q4 FY26 was particularly weak with consolidated EBITDA margin at only 2.76% (down 600 bps). The company remains net debt free with a net debt/equity ratio of (0.16)x. Order intake in Q4 FY26 was INR 6,580 Mn and the order backlog stands at a healthy INR 43,050 Mn. The Bioenergy segment (74% of Q4 revenues) faced headwinds from domestic ethanol overcapacity, though international markets and new opportunities like SAF (Sustainable Aviation Fuel) are developing. The stock underperformed the Sensex over the past year.
The stock has significantly underperformed the market over the past year, and the collapse in profitability — with net profit down 89% — is a major concern for shareholders. The steep margin compression and weak earnings may continue to weigh on the stock price in the near term, despite the healthy order backlog providing some medium-term revenue visibility.