PRAJIND
Praj Industries Limited
Bio-energy and process-engineering company with ethanol and brewery plants
Industrials›Capital Goods›Industrial Manufacturing›Industrial Products
praj.net(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹287.15
Market cap
5,290 Cr
Stock P/E
175.7
P/B
4.04
Dividend yield
2.1%
ROE (FY26)
1.8%
ROCE (FY26)
5.4%
Operating margin (FY26)
1.5%
OCF / EBITDA (FY26)
131.8%
OCF / EBITDA (3Y)
51.2%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Praj (Praj Industries) designs and builds plants and equipment for farm-to-fuel and environment projects, such as ethanol and compressed biogas (CBG) plants, process equipment and skids, breweries, water treatment and high-purity water systems, for customers in India and abroad.
Company snapshot
20thBy market cap
Ranked among 69 companies in Industrial Products.
What we see
Positives
- ✓Dividend payout of 463% — the company returns a meaningful share of profits to shareholders.
Concerns
- ✗Net margin is very thin at 0.8% — little room for error if costs rise.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 882 Cr | 829 Cr | 1,019 Cr | 699 Cr | 816 Cr | 853 Cr | 860 Cr | 640 Cr | 842 Cr | 841 Cr | 845 Cr | 716 Cr |
| Operating expenses (approx.) | 798 Cr | 731 Cr | 888 Cr | 607 Cr | 730 Cr | 780 Cr | 786 Cr | 609 Cr | 786 Cr | 794 Cr | 821 Cr | 686 Cr |
| EBITDA | 84 Cr | 98 Cr | 131 Cr | 92 Cr | 86 Cr | 73 Cr | 74 Cr | 31 Cr | 56 Cr | 47 Cr | 23 Cr | 30 Cr |
| OPM % | 9.5% | 11.8% | 12.8% | 13.2% | 10.6% | 8.5% | 8.6% | 4.9% | 6.6% | 5.6% | 2.8% | 4.2% |
| Other income | 11 Cr | 9 Cr | 11 Cr | 12 Cr | 14 Cr | 14 Cr | 12 Cr | 9 Cr | 5 Cr | 6 Cr | 24 Cr | 20 Cr |
| Interest | 1 Cr | 4 Cr | 4 Cr | 5 Cr | 5 Cr | 4 Cr | 5 Cr | 5 Cr | 5 Cr | 5 Cr | 5 Cr | 4 Cr |
| Depreciation | 9 Cr | 11 Cr | 15 Cr | 20 Cr | 21 Cr | 23 Cr | 22 Cr | 25 Cr | 27 Cr | 27 Cr | 27 Cr | 25 Cr |
| Profit before tax | 85 Cr | 92 Cr | 123 Cr | 107 Cr | 74 Cr | 59 Cr | 58 Cr | 10 Cr | 30 Cr | -13 Cr | 24 Cr | 21 Cr |
| Tax % | 26.5% | 23.4% | 25.3% | 21.4% | 27.7% | 30.1% | 31.6% | 44.4% | 34.9% | 3.5% | 50.7% | 44.9% |
| Net profit | 62 Cr | 70 Cr | 92 Cr | 84 Cr | 54 Cr | 41 Cr | 40 Cr | 5 Cr | 19 Cr | -12 Cr | 12 Cr | 12 Cr |
| EPS (₹) | ₹3.40 | ₹3.83 | ₹5.00 | ₹4.58 | ₹2.93 | ₹2.23 | ₹2.17 | ₹0.29 | ₹1.05 | ₹-0.67 | ₹0.63 | ₹0.63 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 955 Cr | 923 Cr | 1,141 Cr | 1,102 Cr | 1,305 Cr | 2,333 Cr | 3,528 Cr | 3,466 Cr | 3,228 Cr | 3,168 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 886 Cr | 862 Cr | 1,053 Cr | 1,020 Cr | 1,186 Cr | 2,127 Cr | 3,210 Cr | 3,078 Cr | 2,903 Cr | 3,016 Cr | Sign in free for the trailing twelve months |
| EBITDA | 69 Cr | 61 Cr | 88 Cr | 82 Cr | 119 Cr | 206 Cr | 318 Cr | 388 Cr | 325 Cr | 152 Cr | Sign in free for the trailing twelve months |
| OPM % | 7.2% | 6.6% | 7.7% | 7.4% | 9.1% | 8.8% | 9.0% | 11.2% | 10.1% | 4.8% | Sign in free for the trailing twelve months |
| Other income | 22 Cr | 17 Cr | 23 Cr | 26 Cr | 19 Cr | 24 Cr | 36 Cr | 43 Cr | 51 Cr | 50 Cr | Sign in free for the trailing twelve months |
| Interest | 1 Cr | 1 Cr | 0.76 Cr | 3 Cr | 3 Cr | 3 Cr | 5 Cr | 10 Cr | 19 Cr | 20 Cr | Sign in free for the trailing twelve months |
| Depreciation | 22 Cr | 24 Cr | 23 Cr | 22 Cr | 22 Cr | 23 Cr | 30 Cr | 44 Cr | 86 Cr | 106 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 68 Cr | 53 Cr | 88 Cr | 83 Cr | 113 Cr | 205 Cr | 319 Cr | 377 Cr | 299 Cr | 50 Cr | Sign in free for the trailing twelve months |
| Tax % | 34.0% | 25.5% | 22.4% | 15.3% | 28.3% | 26.7% | 24.8% | 24.9% | 26.7% | 52.2% | Sign in free for the trailing twelve months |
| Net profit | 45 Cr | 39 Cr | 68 Cr | 70 Cr | 81 Cr | 150 Cr | 240 Cr | 283 Cr | 219 Cr | 24 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹2.50 | ₹2.19 | ₹3.43 | ₹3.85 | ₹4.43 | ₹8.18 | ₹13.05 | ₹15.42 | ₹11.91 | ₹1.30 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.5% | 26.4% | 32.2% | 29.2% | 50.3% | 463.2% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 36 Cr | 36 Cr | 37 Cr | 37 Cr | 37 Cr | 37 Cr | 37 Cr | 37 Cr | 37 Cr | 37 Cr |
| Reserves | 674 Cr | 690 Cr | 708 Cr | 683 Cr | 765 Cr | 879 Cr | 1,041 Cr | 1,238 Cr | 1,345 Cr | 1,272 Cr |
| Borrowings | 4 Cr | 6 Cr | — | — | — | — | — | — | — | — |
| Other liabilities | 473 Cr | 400 Cr | 501 Cr | 442 Cr | 791 Cr | 1,296 Cr | 1,541 Cr | 1,621 Cr | 1,778 Cr | 1,747 Cr |
| Total liabilities | 1,187 Cr | 1,133 Cr | 1,247 Cr | 1,162 Cr | 1,594 Cr | 2,213 Cr | 2,619 Cr | 2,895 Cr | 3,160 Cr | 3,056 Cr |
| Fixed assets (net) | 192 Cr | 220 Cr | 213 Cr | 217 Cr | 206 Cr | 209 Cr | 237 Cr | 407 Cr | 446 Cr | 448 Cr |
| CWIP | 31 Cr | 4 Cr | 2 Cr | 2 Cr | 0.61 Cr | 2 Cr | 7 Cr | 3 Cr | 17 Cr | 6 Cr |
| Investments | 134 Cr | 201 Cr | 224 Cr | 177 Cr | 349 Cr | 477 Cr | 557 Cr | 497 Cr | 428 Cr | 418 Cr |
| Loans & advances | — | — | 0.16 Cr | 0.01 Cr | 0 Cr | 0 Cr | 19 Cr | 0 Cr | 0 Cr | 0 Cr |
| Inventories | 105 Cr | 81 Cr | 126 Cr | 111 Cr | 129 Cr | 345 Cr | 334 Cr | 221 Cr | 253 Cr | 266 Cr |
| Trade receivables | 295 Cr | 263 Cr | 305 Cr | 330 Cr | 453 Cr | 512 Cr | 795 Cr | 836 Cr | 556 Cr | 559 Cr |
| Cash & bank | 69 Cr | 77 Cr | 64 Cr | 46 Cr | 101 Cr | 107 Cr | 99 Cr | 168 Cr | 126 Cr | 142 Cr |
| Other assets | 361 Cr | 288 Cr | 312 Cr | 279 Cr | 355 Cr | 561 Cr | 573 Cr | 763 Cr | 1,333 Cr | 1,217 Cr |
| Total assets | 1,187 Cr | 1,133 Cr | 1,247 Cr | 1,162 Cr | 1,594 Cr | 2,213 Cr | 2,619 Cr | 2,895 Cr | 3,160 Cr | 3,056 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 20 Cr | 101 Cr | 33 Cr | 15 Cr | 225 Cr | 175 Cr | 162 Cr | 199 Cr | 43 Cr | 200 Cr |
| Cash from investing | -8 Cr | -71 Cr | -6 Cr | 62 Cr | -164 Cr | -127 Cr | -84 Cr | -10 Cr | 71 Cr | -6 Cr |
| Cash from financing | -4 Cr | -25 Cr | -43 Cr | -98 Cr | -6 Cr | -44 Cr | -93 Cr | -124 Cr | -161 Cr | -187 Cr |
| Net cash flow | 8 Cr | 6 Cr | -16 Cr | -21 Cr | 55 Cr | 6 Cr | -9 Cr | 70 Cr | 122 Cr | 16 Cr |
| Free cash flow (OCF − Capex) | -17 Cr | 85 Cr | 19 Cr | 8 Cr | 216 Cr | 156 Cr | 127 Cr | 110 Cr | -44 Cr | 156 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 9.6% | 7.4% | 11.9% | 12.0% | 14.5% | 22.6% | 30.0% | 30.4% | 23.0% | 5.4% |
| ROE % | 6.3% | 5.4% | 9.1% | 9.8% | 10.1% | 16.4% | 22.2% | 22.2% | 15.7% | 1.8% |
| Debtor days | 112 | 103 | 97 | 109 | 127 | 80 | 82 | 88 | 63 | 64 |
| Inventory days | 80 | 62 | 77 | 72 | 64 | 85 | 54 | 42 | 56 | 66 |
| Days payable | 163 | 136 | 142 | 121 | 170 | 104 | 82 | 95 | 107 | 145 |
| Cash conversion cycle | 29 | 30 | 32 | 60 | 21 | 60 | 54 | 35 | 12 | -15 |
| OCF / EBITDA % | 29.4% | 166.2% | 37.3% | 17.9% | 189.0% | 84.9% | 51.0% | 51.4% | 13.2% | 131.8% |
| OCF / EBITDA % (3 years) | — | — | 70.9% | 64.4% | 94.2% | 101.9% | 87.4% | 58.8% | 39.2% | 51.2% |
| Debt / equity | 0.0061 | 0.0082 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | — |
| Current ratio | 1.81 | 2.03 | 1.77 | 1.91 | 1.62 | 1.46 | 1.45 | 1.51 | 1.51 | 1.46 |
| Net debt / EBITDA | -0.94 | — | -0.72 | -0.56 | -0.85 | -0.52 | -0.31 | -0.43 | -0.39 | -0.94 |