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 76.8
- Book Value ₹ 70.8
- Dividend Yield 1.95 %
- 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.
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 | 3,183 | |
| 907 | 919 | 910 | 846 | 865 | 1,062 | 1,024 | 1,192 | 2,140 | 3,220 | 3,094 | 2,913 | 2,974 | |
| Operating Profit | 79 | 93 | 114 | 69 | 52 | 79 | 78 | 112 | 194 | 308 | 372 | 315 | 209 |
| 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 | -3 | |
| Interest | 1 | 2 | 2 | 1 | 1 | 1 | 3 | 3 | 3 | 5 | 10 | 19 | 20 |
| Depreciation | 24 | 38 | 25 | 22 | 24 | 23 | 22 | 22 | 23 | 30 | 44 | 86 | 101 |
| Profit before tax | 77 | 86 | 105 | 68 | 53 | 88 | 83 | 113 | 205 | 319 | 377 | 299 | 85 |
| 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 | 52 | |
| 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 | 2.84 |
| 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: | -6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 23% |
| 3 Years: | 9% |
| TTM: | -70% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 19% |
| 3 Years: | -5% |
| 1 Year: | -42% |
| 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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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
2d - 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.