Praj Industries Ltd
Praj Industries Ltd., founded in 1983 is a leading biotechnology and engineering company globally. It offers sustainable solutions in bioenergy, water purification, process equipment, breweries, and wastewater treatment. Company is focused on the environment , energy and farm-to-fuel technology solution. Company has global offices in Thailand, Philippines, and the USA.[1]
- Market Cap ₹ 5,670 Cr.
- Current Price ₹ 308
- High / Low ₹ 592 / 273
- Stock P/E 36.0
- Book Value ₹ 74.5
- Dividend Yield 1.95 %
- ROCE 23.6 %
- ROE 18.2 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 28.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 38.6%
Cons
- Promoter holding is low: 32.8%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 783 | 801 | 824 | 729 | 697 | 923 | 942 | 1,089 | 2,053 | 3,153 | 2,990 | 2,745 | 2,594 | |
| 712 | 739 | 741 | 662 | 661 | 850 | 867 | 994 | 1,880 | 2,874 | 2,669 | 2,446 | 2,373 | |
| Operating Profit | 70 | 63 | 83 | 68 | 36 | 73 | 75 | 95 | 173 | 279 | 321 | 298 | 222 |
| OPM % | 9% | 8% | 10% | 9% | 5% | 8% | 8% | 9% | 8% | 9% | 11% | 11% | 9% |
| 22 | 32 | 17 | 19 | 26 | 28 | 24 | 23 | 62 | 61 | 84 | 100 | 22 | |
| Interest | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 4 | 4 | 4 | 5 |
| Depreciation | 14 | 26 | 22 | 19 | 21 | 20 | 19 | 19 | 20 | 27 | 36 | 45 | 52 |
| Profit before tax | 78 | 68 | 77 | 67 | 40 | 81 | 78 | 97 | 214 | 309 | 365 | 350 | 186 |
| Tax % | 20% | -1% | 16% | 31% | 21% | 23% | 17% | 26% | 23% | 23% | 23% | 24% | |
| 62 | 69 | 65 | 47 | 31 | 62 | 65 | 71 | 164 | 238 | 280 | 264 | 137 | |
| EPS in Rs | 3.52 | 3.86 | 3.68 | 2.61 | 1.74 | 3.42 | 3.53 | 3.89 | 8.95 | 12.93 | 15.26 | 14.39 | 7.47 |
| Dividend Payout % | 63% | 42% | 44% | 62% | 93% | 62% | 76% | 56% | 47% | 35% | 39% | 42% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 24% |
| 3 Years: | 10% |
| TTM: | -10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 29% |
| 3 Years: | 21% |
| TTM: | -39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 19% |
| 3 Years: | -5% |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 19% |
| 3 Years: | 22% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 35 | 35 | 36 | 36 | 36 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| Reserves | 549 | 580 | 622 | 679 | 687 | 700 | 668 | 740 | 870 | 1,029 | 1,224 | 1,377 | 1,333 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17 | 39 | 40 | 43 | 65 | |
| 558 | 416 | 411 | 380 | 327 | 430 | 358 | 691 | 1,147 | 1,332 | 1,235 | 1,327 | 1,447 | |
| Total Liabilities | 1,143 | 1,031 | 1,069 | 1,095 | 1,050 | 1,167 | 1,063 | 1,468 | 2,071 | 2,437 | 2,537 | 2,784 | 2,881 |
| 239 | 215 | 188 | 188 | 216 | 209 | 211 | 201 | 202 | 235 | 240 | 293 | 318 | |
| CWIP | 2 | 1 | 1 | 31 | 4 | 2 | 2 | 1 | 2 | 7 | 42 | 14 | 8 |
| Investments | 205 | 289 | 312 | 301 | 366 | 375 | 312 | 475 | 613 | 690 | 637 | 563 | 335 |
| 697 | 526 | 567 | 575 | 464 | 580 | 538 | 792 | 1,254 | 1,506 | 1,618 | 1,913 | 2,220 | |
| Total Assets | 1,143 | 1,031 | 1,069 | 1,095 | 1,050 | 1,167 | 1,063 | 1,468 | 2,071 | 2,437 | 2,537 | 2,784 | 2,881 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 27 | 141 | 54 | 18 | 102 | 4 | 14 | 210 | 153 | 131 | 178 | 75 | |
| 17 | -70 | -7 | -13 | -64 | -1 | 71 | -155 | -104 | -59 | -26 | 19 | |
| -46 | -34 | -65 | 8 | -27 | -37 | -96 | -5 | -43 | -91 | -104 | -135 | |
| Net Cash Flow | -2 | 38 | -18 | 13 | 11 | -34 | -12 | 51 | 6 | -19 | 48 | -42 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 117 | 92 | 129 | 109 | 97 | 90 | 103 | 125 | 74 | 79 | 60 | 57 |
| Inventory Days | 162 | 171 | 67 | 60 | 47 | 76 | 55 | 52 | 84 | 53 | 35 | 55 |
| Days Payable | 143 | 126 | 155 | 152 | 134 | 137 | 113 | 169 | 101 | 79 | 80 | 94 |
| Cash Conversion Cycle | 136 | 137 | 40 | 18 | 10 | 29 | 45 | 8 | 56 | 53 | 16 | 19 |
| Working Capital Days | 50 | 17 | 40 | 63 | 39 | 30 | 62 | 4 | 1 | 8 | 27 | 39 |
| ROCE % | 12% | 9% | 12% | 10% | 5% | 10% | 12% | 13% | 21% | 30% | 31% | 24% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Posted audio of analysts' call on 13 Feb 2026 for Q3 and nine-month unaudited results to Dec 31, 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
12 Feb - Investor Presentation on Unaudited Financial Results for the quarter and nine months ended 31st December 2025
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
12 Feb - Q3 revenue Rs8,414.8m; PBT Rs216.1m; PAT Rs-123.9m; order intake Rs9,140m; backlog Rs44.9bn
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Board Meeting Outcome for Un-Audited Financial Results (Standalone & Consolidated) For Quarter Ended 31St December, 2025
12 Feb - Unaudited Q3 and nine-month results to 31 Dec 2025; exceptional Rs309.09m (standalone), Rs344.445m (consolidated).
- Un-Audited Financial Results (Standalone & Conso) For Quarter Ended 31St December, 2025. 12 Feb
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Feb 2026TranscriptAI SummaryPPT
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Dec 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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Sep 2025Transcript PPT REC
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025TranscriptAI SummaryPPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Jan 2025TranscriptAI SummaryPPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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Jul 2024TranscriptAI SummaryPPT
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Jun 2024Transcript PPT
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May 2024Transcript PPT REC
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May 2024TranscriptAI SummaryPPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT
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Nov 2023TranscriptAI SummaryPPT REC
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Aug 2023Transcript PPT
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Jul 2023Transcript PPT REC
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Jul 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023Transcript PPT
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Oct 2022TranscriptPPT
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Aug 2022TranscriptAI SummaryPPT REC
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Jun 2022TranscriptAI SummaryPPT
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Mar 2022TranscriptAI SummaryPPT
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Jan 2022TranscriptAI SummaryPPT
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Mar 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Aug 2020TranscriptPPT
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May 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Jul 2019TranscriptPPT
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May 2019TranscriptPPT
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Jan 2019Transcript PPT
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Dec 2018TranscriptPPT
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Oct 2018TranscriptPPT
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May 2018TranscriptPPT
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Feb 2018TranscriptPPT
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Nov 2017Transcript PPT
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Aug 2017TranscriptAI SummaryPPT
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May 2017TranscriptAI SummaryPPT
Products portfolio[1]
Its product portfolio is diversified into BioEnergy, Praj HiPurity Systems, Critical Process Equipment & Skids, Wastewater Treatment, and Brewery & Beverages.