Praj Industries Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,675 Cr
- P/E
- 92.53
- ROE
- 1.48%
- PEG
- -1.64
- Price to sales
- 1.44
- Debt to equity
- 0.13
- 52W high / low
- ₹416 / ₹249
- Sales growth (5Y)
- 19.41%
- EBITDA margin
- 4.64%
- Net profit margin
- 0.63%
- Promoter holding
- 32.81%
- Sales (last year)
- ₹3,244 Cr
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]
Guidance scorecard · Q1 FY27 call
What Praj Industries Ltd's management guided
and where it ranks in Industrial Manufacturing
Industrial Manufacturing
RevenueQ1 FY27 call
10–20%- Domestic greenfield ethanol projects are slow due to policy and funding issues; demand mainly from ethanol-deficit states like Tamil Nadu and Assam.
- Strong demand for brownfield solutions focusing on operational efficiencies and value-added co-products (e.g., Distillers Corn Oil).
- International market growth expected from new greenfield projects, including a marquee corn-to-ethanol plant in Brazil, and potential orders from the USA, Indonesia, Vietnam, Kenya, Panama, Argentina, Guatemala, Costa Rica, and Bolivia.
- CBG business poised for significant growth driven by the INR 23,000 crore GOBARdhan scheme to scale production nearly tenfold by FY 2035-36, aiming to mobilize large-scale private investments.
- Praj GenX is developing opportunities in data center water and modular solutions, expected to contribute meaningfully to revenues in the near term.
2 more points from Praj Industries Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Praj Industries Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Continuous investments are being made in R&D to expand product portfolio and technology basket, especially for Praj GenX and new biofuels like isobutanol and CBG.
- The company anticipates some capital and revenue investments for emerging areas such as Sustainable Aviation Fuel (SAF) and alternative ethanol products.
- The INR 500 crore data center order for Praj GenX involves phased execution over 2.5 years, indicating ongoing capex expenditures.
- Praj GenX's Mangalore facility is expected to break even by the end of the current financial year, reflecting continued capital deployment.
- Investments in modularization solutions and strategic partnerships, particularly for data centers and semiconductor-related ultra-pure water and ZLD solutions, are a focus area.
2 more points from Praj Industries Ltd's call on capex
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FundraisingQ1 FY27 call
See what Praj Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Order backlog as of June 30, 2026, stands at INR 45.9 billion, with 63% domestic orders.
- Order intake during the quarter was INR 10 billion, comprising 57% domestic market.
- Bioenergy contributes 62% to total order intake, engineering 28%, and Praj HiPurity Systems 10%.
- Praj GenX order book is part of the overall engineering book; specific backlog numbers for Praj GenX will be shared at an appropriate time.
- The INR 500 crore data center order linked to Praj GenX is partially booked and will be recorded as firm confirmations for phases and data centers are received over 2.5 years.
2 more points from Praj Industries Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of Praj Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Praj Industries Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% | 32.81% |
| FIIs + | 17.37% | 18.87% | 18.55% | 19.03% | 18.63% | 17.16% | 16.86% | 17.53% | 17.32% | 17.74% | 17.75% | 16.75% |
| DIIs + | 13.09% | 13.69% | 16.65% | 17.34% | 18.19% | 19.51% | 17.43% | 14.83% | 13.64% | 12.68% | 14.09% | 15.68% |
| Public + | 36.74% | 34.64% | 31.99% | 30.82% | 30.38% | 30.52% | 32.89% | 34.82% | 36.23% | 36.77% | 35.34% | 34.77% |
| No. of Shareholders | 3,14,475 | 3,24,849 | 3,27,689 | 3,49,924 | 3,53,099 | 3,51,432 | 3,86,468 | 4,03,110 | 4,06,848 | 4,00,397 | 3,83,086 | 3,72,037 |
Financials of Praj Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 737 | 882 | 829 | 1,019 | 699 | 816 | 853 | 860 | 640 | 842 | 841 | 845 | 716 |
| Expenses + | 661 | 798 | 731 | 888 | 607 | 730 | 780 | 784 | 609 | 786 | 800 | 821 | 686 |
| Operating Profit | 75 | 84 | 98 | 131 | 92 | 86 | 73 | 75 | 31 | 56 | 41 | 23 | 30 |
| OPM % | 10% | 10% | 12% | 13% | 13% | 11% | 9% | 9% | 4.9% | 7% | 4.9% | 2.8% | 4.2% |
| Other Income + | 12 | 11 | 9 | 11 | 40 | 14 | 14 | 10 | 9 | 5 | -23 | 33 | 20 |
| Interest | 1 | 1 | 4 | 4 | 5 | 5 | 4 | 5 | 5 | 5 | 5 | 5 | 4 |
| Depreciation | 9 | 9 | 11 | 15 | 20 | 21 | 23 | 22 | 25 | 27 | 27 | 27 | 25 |
| Profit before tax | 78 | 85 | 92 | 123 | 107 | 74 | 59 | 58 | 10 | 30 | -13 | 24 | 21 |
| Tax % | 24% | 26% | 23% | 25% | 21% | 28% | 30% | 32% | 44% | 35% | -4% | 51% | 45% |
| Net Profit + | 59 | 62 | 70 | 92 | 84 | 54 | 41 | 40 | 5 | 19 | -12 | 12 | 12 |
| EPS in Rs | 3.19 | 3.39 | 3.83 | 5.00 | 4.58 | 2.93 | 2.24 | 2.17 | 0.29 | 1.05 | -0.67 | 0.63 | 0.63 |
Financials of Praj Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,012 | 1,024 | 915 | 917 | 1,141 | 1,102 | 1,305 | 2,343 | 3,528 | 3,466 | 3,228 | 3,168 | 3,244 |
| Expenses + | 919 | 910 | 846 | 865 | 1,062 | 1,024 | 1,192 | 2,149 | 3,220 | 3,094 | 2,914 | 3,013 | 3,093 |
| Operating Profit | 93 | 114 | 69 | 52 | 79 | 78 | 112 | 194 | 308 | 372 | 314 | 155 | 150 |
| OPM % | 9% | 11% | 8% | 6% | 7% | 7% | 9% | 8% | 9% | 11% | 10% | 4.9% | 4.6% |
| Other Income + | 34 | 18 | 22 | 27 | 32 | 30 | 26 | 36 | 45 | 59 | 89 | 21 | 35 |
| Interest | 2 | 2 | 1 | 1 | 1 | 3 | 3 | 3 | 5 | 10 | 18 | 20 | 19 |
| Depreciation | 38 | 25 | 22 | 24 | 23 | 22 | 22 | 23 | 30 | 44 | 86 | 106 | 106 |
| Profit before tax | 86 | 105 | 68 | 53 | 88 | 83 | 113 | 205 | 319 | 377 | 299 | 50 | 61 |
| Tax % | 9% | 22% | 34% | 26% | 22% | 15% | 28% | 27% | 25% | 25% | 27% | 52% | |
| Net Profit + | 78 | 82 | 45 | 39 | 68 | 70 | 81 | 150 | 240 | 283 | 219 | 24 | 30 |
| EPS in Rs | 4.30 | 4.63 | 2.49 | 2.18 | 3.73 | 3.85 | 4.42 | 8.18 | 13.05 | 15.42 | 11.91 | 1.30 | 1.64 |
| Dividend Payout % | 38% | 35% | 65% | 74% | 57% | 70% | 49% | 51% | 34% | 39% | 50% | 278% |
Financials of Praj Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 35 | 36 | 36 | 36 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| Reserves | 587 | 620 | 674 | 690 | 708 | 683 | 765 | 879 | 1,041 | 1,238 | 1,345 | 1,272 |
| Borrowings + | 17 | 16 | 4 | 6 | 0 | 0 | 0 | 21 | 42 | 169 | 195 | 173 |
| Other Liabilities + | 504 | 485 | 473 | 401 | 502 | 442 | 792 | 1,281 | 1,499 | 1,450 | 1,581 | 1,574 |
| Total Liabilities | 1,144 | 1,157 | 1,187 | 1,133 | 1,247 | 1,162 | 1,594 | 2,218 | 2,619 | 2,894 | 3,157 | 3,056 |
| Fixed Assets + | 302 | 272 | 270 | 297 | 290 | 294 | 284 | 286 | 317 | 474 | 567 | 560 |
| CWIP | 1 | 1 | 31 | 4 | 2 | 2 | 1 | 2 | 7 | 43 | 18 | 6 |
| Investments | 158 | 145 | 134 | 201 | 211 | 164 | 335 | 463 | 543 | 497 | 428 | 418 |
| Other Assets + | 682 | 738 | 752 | 631 | 744 | 702 | 975 | 1,467 | 1,752 | 1,880 | 2,144 | 2,072 |
| Total Assets | 1,144 | 1,157 | 1,187 | 1,133 | 1,247 | 1,162 | 1,594 | 2,218 | 2,619 | 2,894 | 3,157 | 3,056 |
Financials of Praj Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 150 | 51 | 20 | 101 | 33 | 15 | 225 | 188 | 162 | 199 | 43 | 200 |
| Cash from Investing Activity + | -77 | 2 | -8 | -69 | -3 | 66 | -164 | -137 | -78 | -6 | 75 | 4 |
| Cash from Financing Activity + | -40 | -68 | -4 | -25 | -43 | -98 | -6 | -44 | -93 | -124 | -161 | -187 |
| Net Cash Flow | 33 | -15 | 9 | 8 | -14 | -18 | 55 | 6 | -9 | 70 | -42 | 16 |
| Free Cash Flow | 154 | 39 | -16 | 85 | 19 | 8 | 217 | 169 | 127 | 111 | -1 | 157 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 151% | 76% | 59% | 221% | 68% | 42% | 213% | 120% | 73% | 82% | 46% | 175% |
Financials of Praj Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 101 | 131 | 118 | 105 | 98 | 109 | 127 | 80 | 82 | 68 | 63 | 64 |
| Inventory Days | 164 | 79 | 82 | 63 | 76 | 73 | 64 | 86 | 55 | 41 | 56 | 60 |
| Days Payable | 128 | 162 | 167 | 137 | 140 | 124 | 169 | 106 | 84 | 92 | 106 | 132 |
| Cash Conversion Cycle | 137 | 48 | 33 | 30 | 33 | 59 | 21 | 60 | 54 | 16 | 12 | -8 |
| Working Capital Days | 26 | 46 | 66 | 51 | 39 | 65 | 12 | 4 | 8 | 16 | 32 | 16 |
| ROCE % | 12% | 16% | 10% | 6% | 11% | 11% | 15% | 23% | 31% | 29% | 18% | 6% |
Guidance history
How Praj Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Flat |
| Q3 FY26 call → | 0–10% | Up 0–2% | None planned | — | Rising |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
9 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −25.4% | 30% |
| Last 6 months | −37.7% | 3% |
| Last 3 months | −17.7% | 22% |
The price is 69.6% below its all-time high of ₹836.35 (3 Jan 2025). Stocks more than 20% below their peak have their score halved, so 17 became 9.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Praj Industries Ltd: 0.4 × 30 + 0.4 × 3 + 0.2 × 22 = 17, halved to 9 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Praj Industries Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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