NSE: PRAKASH · BSE: 506022
PRAKASH INDUSTRIES LTD
Makes and sells iron and steel products, which generated 99.8% of disclosed segment revenue, with the residual 0.2% coming from power generation. The company also operates the Bhaskarpara Coal Mine, extracting about 1 million MT of coal in FY2026 and working to lift mining capacity from 1 Mn MT to 1.2 Mn MT per annum. In FY26 the business booked revenue of ₹3,478.66 crore and EBITDA of around ₹543 crore, giving an EBITDA margin of 15.6% on total assets of ₹4,752.65 crore. The biggest input cost is raw materials at 60.7% of revenue, followed by other operating expenses at 15.7% and employee costs at 8.7%, while depreciation was 4.8% and capex was 11.1% of revenue, consistent with an asset-heavy, mining-and-steel operation. The Board has recommended a final dividend of ₹1.80 per equity share (18% on face value of ₹10) for FY2025-26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Iron & Steel (100%), Power (0%). Cyclical, asset-heavy iron & steel with captive coal mining
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,929 | 3,444 | 3,678 | 4,014 | 3,479 |
| EBITDA (ex other income) | 391 | 413 | 493 | 520 | 513 |
| margin % | 9.9 | 12.0 | 13.4 | 12.9 | 14.8 |
| Owners' profit | 169 | 190 | 348 | 355 | 333 |
| EPS, as reported (₹) | 9.42 | 10.64 | 19.44 | 19.85 | 18.60 |
| ROE % · ROCE % | 6.0 · 7.4 | 6.4 · 8.1 | 11.5 · 12.3 | 10.7 · 11.3 | 9.3 · 9.2 |
| Debt / equity (x) | 0.19 | 0.20 | 0.12 | 0.13 | 0.14 |
| Cash from operations | 350 | 585 | 601 | 142 | 299 |
| Capex | (140) | (458) | (464) | (175) | (387) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,077 | 926 | 845 | 1,037 | 723 | 799 | 920 | 1,032 |
| Profit before tax | 90 | 84 | 91 | 91 | 62 | 84 | 93 | 93 |
| Net profit | 90 | 84 | 91 | 91 | 62 | 87 | 93 | 71 |
| EPS (₹) | 5.05 | 4.68 | 5.07 | 5.10 | 3.44 | 4.85 | 5.21 | 3.98 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JSW STEEL LIMITED | 3,02,853 | 12.2 | 2.87 | 7.4 | 24.2 | 14.8 | 18.4 | 21.3 |
| TATA STEEL LIMITED | 2,11,351 | 19.1 | 2.04 | 8.5 | 10.5 | 7.6 | 8.2 | 15.1 |
| JINDAL STEEL LIMITED | 1,07,368 | 39.5 | 2.07 | 14.0 | 6.5 | 5.6 | 6.4 | 17.3 |
| STEEL AUTHORITY OF INDIA | 66,915 | 15.7 | 1.11 | 8.1 | 5.6 | 4.4 | 9.9 | 16.1 |
| JINDAL STAINLESS LIMITED | 56,393 | 17.4 | 2.84 | 10.8 | 16.0 | 15.8 | 28.7 | 13.1 |
| SARDA ENERGY & MIN LTD | 16,029 | 14.2 | 2.14 | 9.1 | 14.8 | 14.0 | 20.9 | 47.4 |
| NMDC STEEL LIMITED | 11,444 | 126.0 | 0.87 | — | 0.4 | 0.5 | — | 12.1 |
| SANDUR MANG & IRON ORES L | 8,360 | 11.7 | 2.56 | 7.4 | 20.1 | 20.9 | — | 26.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.4 | 14.2 | 2 of 11 | 90% |
| P/B | 0.6 | 2.0 | 1 of 11 | 90% |
| ROCE | 8.1 | 8.1 | 6 of 11 | 50% |
| ROE | 9.3 | 10.5 | 7 of 11 | 40% |
| Debt / Equity | 0.1 | 0.4 | 1 of 11 | 100% |
| EBITDA margin | 14.9 | 15.1 | 7 of 11 | 40% |
| Revenue growth | (0.5) | 9.8 | 9 of 11 | 20% |
| Profit growth | (22.0) | 18.8 | 9 of 11 | 20% |
| Market cap | 2002 | 16029 | 9 of 11 | 20% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Compliance Certificate for Q2 FY27 under SEBI Reg 74(5) | compliance | minimal | — | — |
| 1 Oct 2026 · All 5 resolutions passed at 45th AGM; Rs 1.80 dividend approved | board shareholder meetings | low | — | — |
| 1 Oct 2026 · All resolutions passed at 45th AGM; dividend of Rs 1.80 per share approved | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Prakash Industries 45th AGM held; Rs 1.80 per share dividend approved | board shareholder meetings | medium | — | — |
| 26 Sept 2026 · Trading Window Closes Oct 1 for Q2 Results | compliance | minimal | — | — |
| 11 Sept 2026 · CTO granted for Bhaskarpara Coal Mine capacity expansion from 1.0 to 1.2 MTPA | capex operations | high | — | — |
| 8 Sept 2026 · 45th AGM notice, record date, e-voting and 18 percent dividend announced | compliance | minimal | — | — |
| 7 Sept 2026 · Prakash Industries fixes 16 Sep 2026 as record date for final dividend | corporate actions | high | — | — |
| 7 Sept 2026 · Prakash Industries sets AGM on Sep 30, 2026; final dividend Rs 1.80/share | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.