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 ₹ 5,789 Cr.
- Current Price ₹ 315
- High / Low ₹ 875 / 310
- Stock P/E 54.9
- Book Value ₹ 70.8
- Dividend Yield 1.91 %
- ROCE 17.9 %
- ROE 14.1 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 41.3%
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.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE 500 BSE Capital Goods Nifty 500 BSE SmallCap BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 986 | 1,012 | 1,024 | 915 | 917 | 1,141 | 1,102 | 1,305 | 2,333 | 3,528 | 3,466 | 3,228 | 3,195 | |
| 907 | 919 | 910 | 846 | 865 | 1,062 | 1,024 | 1,192 | 2,140 | 3,220 | 3,094 | 2,913 | 2,961 | |
| Operating Profit | 79 | 93 | 114 | 69 | 52 | 79 | 78 | 112 | 194 | 308 | 372 | 315 | 234 |
| OPM % | 8% | 9% | 11% | 8% | 6% | 7% | 7% | 9% | 8% | 9% | 11% | 10% | 7% |
| 23 | 34 | 18 | 22 | 27 | 32 | 30 | 26 | 36 | 45 | 59 | 89 | 39 | |
| Interest | 1 | 2 | 2 | 1 | 1 | 1 | 3 | 3 | 3 | 5 | 10 | 19 | 19 |
| Depreciation | 24 | 38 | 25 | 22 | 24 | 23 | 22 | 22 | 23 | 30 | 44 | 86 | 98 |
| Profit before tax | 77 | 86 | 105 | 68 | 53 | 88 | 83 | 113 | 205 | 319 | 377 | 299 | 156 |
| Tax % | 27% | 9% | 22% | 34% | 26% | 22% | 15% | 28% | 27% | 25% | 25% | 27% | |
| 57 | 78 | 82 | 45 | 39 | 68 | 70 | 81 | 150 | 240 | 283 | 219 | 106 | |
| EPS in Rs | 3.08 | 4.30 | 4.63 | 2.49 | 2.18 | 3.73 | 3.85 | 4.42 | 8.18 | 13.05 | 15.42 | 11.91 | 5.75 |
| Dividend Payout % | 72% | 38% | 35% | 65% | 74% | 57% | 70% | 49% | 51% | 34% | 39% | 50% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 24% |
| 3 Years: | 11% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 23% |
| 3 Years: | 9% |
| TTM: | -62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 26% |
| 3 Years: | -6% |
| 1 Year: | -61% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 18% |
| 3 Years: | 20% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 547 | 587 | 620 | 674 | 690 | 708 | 683 | 765 | 879 | 1,041 | 1,238 | 1,345 | 1,264 |
| 21 | 17 | 16 | 4 | 6 | 0 | 0 | 18 | 21 | 42 | 169 | 195 | 210 | |
| 670 | 504 | 485 | 473 | 401 | 502 | 442 | 774 | 1,276 | 1,499 | 1,450 | 1,581 | 1,722 | |
| Total Liabilities | 1,274 | 1,144 | 1,157 | 1,187 | 1,133 | 1,247 | 1,162 | 1,594 | 2,213 | 2,619 | 2,894 | 3,157 | 3,233 |
| 323 | 302 | 272 | 270 | 297 | 290 | 294 | 284 | 286 | 317 | 474 | 567 | 585 | |
| CWIP | 2 | 1 | 1 | 31 | 4 | 2 | 2 | 1 | 2 | 7 | 43 | 18 | 13 |
| Investments | 91 | 158 | 145 | 134 | 201 | 211 | 164 | 335 | 463 | 543 | 497 | 428 | 189 |
| 859 | 682 | 738 | 752 | 631 | 744 | 702 | 975 | 1,461 | 1,752 | 1,880 | 2,144 | 2,446 | |
| Total Assets | 1,274 | 1,144 | 1,157 | 1,187 | 1,133 | 1,247 | 1,162 | 1,594 | 2,213 | 2,619 | 2,894 | 3,157 | 3,233 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -3 | 150 | 51 | 20 | 101 | 33 | 15 | 225 | 175 | 162 | 199 | 43 | |
| 19 | -77 | 2 | -8 | -69 | -3 | 66 | -164 | -124 | -78 | -6 | 75 | |
| -40 | -40 | -68 | -4 | -25 | -43 | -98 | -6 | -44 | -93 | -124 | -161 | |
| Net Cash Flow | -24 | 33 | -15 | 9 | 8 | -14 | -18 | 55 | 6 | -9 | 70 | -42 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 119 | 101 | 131 | 118 | 105 | 98 | 109 | 127 | 80 | 82 | 68 | 63 |
| Inventory Days | 170 | 164 | 79 | 82 | 63 | 76 | 73 | 64 | 87 | 55 | 41 | 56 |
| Days Payable | 153 | 128 | 162 | 167 | 137 | 140 | 124 | 169 | 107 | 84 | 92 | 106 |
| Cash Conversion Cycle | 136 | 137 | 48 | 33 | 30 | 33 | 59 | 21 | 60 | 54 | 16 | 12 |
| Working Capital Days | 47 | 26 | 46 | 66 | 51 | 39 | 65 | 12 | 4 | 8 | 16 | 32 |
| ROCE % | 11% | 12% | 16% | 10% | 6% | 11% | 11% | 15% | 23% | 31% | 29% | 18% |
Documents
Announcements
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Disclosure Of Inter-Se Transfer Of Shares Between The Promoters/ Promoter Group With Regulation 10(5) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011
2d - Moriyaset Trust to transfer 7,200,000 shares (3.917%) to Dr. Pramod Chaudhari on/after 9–11 Dec 2025.
- Announcement under Regulation 30 (LODR)-Investor Presentation 1 Dec
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10 Nov - Q2/H1 FY'26 results: Q2 revenue Rs8.42bn, PAT Rs192.8m; backlog Rs44.2bn; US low-carbon ethanol project commissioning by fiscal year-end.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
6 Nov - Audio recording of analysts' call on 6 Nov 2025 for Q2/H1 unaudited financial results.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6 Nov - UBS Securities India Pvt. Ltd. has arranged a visit of Delegation of Investors to meet Management of Praj Industries Ltd. at our Registered Office situated …
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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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 REC
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May 2024Transcript PPT
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May 2024TranscriptAI SummaryPPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Nov 2023TranscriptAI SummaryPPT
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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.