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Praj Industries Ltd.

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praj.netBSE: 522205NSE: PRAJIND
Market Cap₹ 5,921 Cr.
Current Price
High / Low₹ 428 / 273
Stock P/E196.6
Book Value₹ 72
Price to Book4.49
Dividend Yield1.12 %
ROCE5.2 %
ROE1.8 %
Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence
72%
View full sector analysis →

PROS

  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 20.7%
  • Company has consistently been profitable over the last 5 years
  • Latest quarter profit grew 117.3% YoY, showing strong momentum
  • Company has delivered good sales growth of 19.3% CAGR over last 5 years

CONS

  • A large part of profit comes from other income (100.9% of PBT)
  • Recent results are weak - TTM profit is down 66.7% versus prior year
  • Valuation is stretched - P/E of 196.6 is well above its own 5-year median (46.6)
  • Company has delivered a poor profit growth of -21.7% over past five years
  • Operating margins have contracted to 4.8% from 9.9%
  • Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments
Part ofNIFTY MICROCAP250NIFTY TOTAL MKT
S.No.Name
1.BHEL430.6061.64149937.650.33376.71182.707697.7240.299.246.69
2.INDOMIM1018.9094.4350382.660.582401.22—12187.42—24.4833.36
3.THERMAX3680.2573.9143852.500.5421.79-85.612302.737.0915.852.98
4.HONAUT34514.0555.3730515.680.32150.7020.951204.401.8017.0414.32
5.JYOTICNC987.9569.8422468.260.0057.14-19.99508.4723.9721.3421.40
6.INOXINDIA2245.7580.1220418.910.09580.72850.163707.90991.7733.5420.46
7.AZAD2846.00132.2518379.960.0035.1619.46172.6025.9012.0437.29
8.TRITURBINE569.1053.8018091.600.7551.10-20.65442.7019.2335.9511.59
9.TEGA1731.10615.5213005.360.12-108.25-406.361723.44383.998.373.27
10.LLOYDSENGG82.7257.3612830.190.3068.23-77.28527.15142.9217.9915.04
11.KRN1595.75107.7510445.540.0032.90164.84252.32118.8716.0619.44
12.PRAJIND322.10196.635920.621.1211.61117.34715.8211.815.224.20
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
7378828291,019699816853860640842841845716
665805731892612730780784609786794821715
Operating Profit71789812687867375315647231
OPM %9.68%8.82%11.77%12.39%12.41%10.56%8.52%8.76%4.91%6.63%5.62%2.76%0.15%
16179164514141095-293320
Interest1144554555554
Depreciation991115202123222527272725
Profit before Tax7885921231077459581030-132421
Tax %24.49%26.46%23.40%25.27%21.36%27.69%30.13%31.66%44.43%34.89%3.50%50.64%44.86%
Net Profit000084544140519-121212
3.193.403.835.004.582.932.232.170.291.05-0.670.630.63

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
8129641,0761,1061,3132,2233,5823,3913,2283,1683,244
7439169971,0371,2102,0873,2883,0272,9143,0163,116
Operating Profit69487969103136293364315152127
OPM %8.46%4.98%7.37%6.23%7.81%6.10%8.19%10.73%9.74%4.79%3.93%
2230323936946067892429
Interest111333510182019
Depreciation222423222223304486106106
Profit before Tax685388831132053193772995061
Tax %33.95%25.51%22.43%15.28%28.33%26.67%24.76%24.92%26.67%52.23%50.92%
Net Profit45396870811502402832192430
EPS2.492.183.743.854.428.1813.0515.4211.911.30—
Dividend Payout %65.18%74.22%56.77%70.22%48.83%51.35%34.48%38.92%50.38%277.54%—

COMPOUNDED SALES GROWTH

10 Years:
11%
5 Years:
19%
3 Years:
-4%

COMPOUNDED PROFIT GROWTH

10 Years:
-12%
5 Years:
-22%
3 Years:
-54%

STOCK PRICE CAGR

10 Years:
14%
5 Years:
-2%
3 Years:
-17%
1 Year:
-17%

RETURN ON EQUITY

10 Years:
13%
5 Years:
17%
3 Years:
14%
Last Year:
2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 6

₹ 1.80

Rs.3.6000 per share(180%)Final Dividend

2025

Aug 4

₹ 3

Rs.6.0000 per share(300%)Final Dividend

2024

Jul 18

₹ 3

Rs.6.0000 per share(300%)Final Dividend

2023

Jul 19

₹ 2.25

Rs.4.5000 per share(225%)Dividend

2022

Jul 27

₹ 1.35

Rs.1.5000 per share(75%)Special Dividend

2022

Jul 27

₹ 0.75

03/09/2022 Equity Rs.1.5000 per share(75%)Special Dividend & Rs.2.7000 per share(135%)Final Dividend

2021

Aug 3

₹ 1.08

Rs.2.1600 per share(108%)Dividend

2018

Jul 27

₹ 0.81

Rs.1.6200 per share(81%)Dividend

2017

Aug 2

₹ 0.81

Rs.1.6200 per share(81%)Dividend

2016

Mar 17

₹ 0.81

Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital36363737373737373737
Minority Interest0111100000
6706867066817638761,0391,2381,3441,267
46015111527142151117
Trade Payables213176235187342425505497482586
2612242602234308631,0009731,120995
Total Liabilities1,1851,1291,2381,1441,5832,2162,6082,8863,1343,001
256283276280270272303474567560
Capital Work in Progress314220173176
134201211164335463543497428418
10581126111129345334221253266
0000000643556559
Cash & Bank74808849132155145213181204
5854805345377179791,2768351,131989
Total Assets1,1851,1291,2381,1441,5832,2162,6082,8863,1343,001

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
41114543224023322519943200
Cash from Investing-8-71-662-164-140-84-1071-6
Cash from Financing-4-25-43-98-6-44-93-124-161-187
86-16-21544-1665-476

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
32.8132.8132.8132.8132.8132.8132.8132.8132.81
18.5519.0318.6317.1616.8617.5317.3217.7417.75
16.6517.3418.1919.5117.4314.8313.6412.6814.09
Government0.000.000.000.000.000.000.000.000.00
31.9930.8330.3730.5232.9034.8336.2336.7735.34

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-24
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Praj Industries Limited has informed the Exchange about Participation in Investor Conference

2026-08-18
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Praj Industries Limited has informed the Exchange about Transcript

2026-08-14
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Praj Industries Limited has informed the Exchange about Link of Recording

2026-08-14
Change in Director(s)

2026-08-14 - Praj Industries Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-14
Shareholders meeting

2026-08-14 - Praj Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-14
Press Release

2026-08-14 - Praj Industries Limited has informed the Exchange regarding a press release dated August 13, 2026, titled "Presentation on Un-audited Financial Results for the quarter ended 30th June, 2026.".

2026-08-13
Shareholders meeting

2026-08-13 - Praj Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 13, 2026

2026-08-13
Change in Director(s)

2026-08-13 - Praj Industries Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-13
Press Release

2026-08-13 - Praj Industries Limited has informed the Exchange regarding a press release dated August 13, 2026, titled "Press Release regarding Financial Results".

News

Recent coverage and analyst commentary for PRAJIND

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