Praj Industries Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
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.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 23.3%
- Company has delivered good sales growth of 18.8% CAGR over last 5 years
- Latest quarter profit grew 27.5% YoY, showing strong momentum
- Company has been maintaining a healthy dividend payout of 54.9%
CONS
- A large part of profit comes from other income (44.4% of PBT)
- Recurring exceptional / one-off items are inflating headline profit
- Operating margins have contracted to 6.8% from 10.7%
- Growth is decelerating - 3Y profit CAGR (-20.3%) trails the 5Y trend (11.1%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHEL | 433.30 | 62.03 | 150877.81 | 0.32 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| INDOMIM | 988.35 | 91.60 | 48872.02 | 0.60 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| THERMAX | 3635.85 | 73.01 | 43323.44 | 0.55 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| HONAUT | 34159.35 | 54.80 | 30202.07 | 0.32 | 150.70 | 20.95 | 1204.40 | 1.80 | 17.04 | 14.32 |
| JYOTICNC | 1008.70 | 71.30 | 22940.17 | 0.00 | 57.14 | -19.99 | 508.47 | 23.97 | 21.34 | 21.40 |
| INOXINDIA | 2184.80 | 77.95 | 19864.74 | 0.09 | 580.72 | 850.16 | 3707.90 | 991.77 | 33.54 | 20.46 |
| AZAD | 2804.70 | 130.33 | 18113.24 | 0.00 | 35.16 | 19.46 | 172.60 | 25.90 | 12.04 | 37.29 |
| TRITURBINE | 564.90 | 53.40 | 17958.08 | 0.75 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| TEGA | 1680.15 | 597.41 | 12622.58 | 0.12 | -108.25 | -406.36 | 1723.44 | 383.99 | 8.37 | 3.27 |
| LLOYDSENGG | 81.23 | 56.33 | 12599.09 | 0.31 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| KRN | 1600.40 | 108.06 | 10475.98 | 0.00 | 32.90 | 164.84 | 252.32 | 118.87 | 16.06 | 19.44 |
| PRAJIND | 327.30 | 199.81 | 6016.20 | 1.10 | 11.61 | 117.34 | 715.82 | 11.81 | 5.22 | 4.20 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 650 | 783 | 717 | 839 | 601 | 704 | 739 | 701 | 510 | 686 | 697 | 693 | 539 | |
| 591 | 710 | 623 | 743 | 520 | 630 | 668 | 624 | 482 | 626 | 642 | 658 | 532 | |
| Operating Profit | 59 | 73 | 94 | 96 | 81 | 74 | 72 | 77 | 28 | 60 | 55 | 34 | 7 |
| OPM % | 9.05% | 9.34% | 13.14% | 11.43% | 13.49% | 10.49% | 9.67% | 11.01% | 5.49% | 8.77% | 7.89% | 4.96% | 1.39% |
| 15 | 41 | 10 | 17 | 47 | 16 | 16 | 17 | 13 | 11 | -17 | 39 | 29 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Depreciation | 8 | 8 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 14 | 14 | 14 | 12 |
| Profit before Tax | 65 | 105 | 93 | 102 | 116 | 78 | 75 | 81 | 27 | 56 | 23 | 57 | 37 |
| Tax % | 24.44% | 20.11% | 22.76% | 25.73% | 20.72% | 25.69% | 25.87% | 26.97% | 25.05% | 25.47% | 26.51% | 25.93% | 30.65% |
| Net Profit | 49 | 84 | 72 | 76 | 92 | 58 | 56 | 59 | 20 | 42 | 17 | 42 | 25 |
| 2.68 | 4.58 | 3.90 | 4.11 | 5.00 | 3.15 | 3.03 | 3.21 | 1.09 | 2.27 | 0.90 | 2.30 | 1.38 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 622 | 745 | 863 | 949 | 1,092 | 1,933 | 3,189 | 2,913 | 2,745 | 2,586 | 2,615 | |
| 554 | 713 | 789 | 879 | 1,004 | 1,817 | 2,921 | 2,595 | 2,446 | 2,411 | 2,458 | |
| Operating Profit | 68 | 32 | 73 | 70 | 88 | 116 | 268 | 318 | 298 | 175 | 157 |
| OPM % | 10.91% | 4.32% | 8.48% | 7.42% | 8.04% | 5.98% | 8.41% | 10.93% | 10.87% | 6.75% | 6.00% |
| 19 | 30 | 28 | 28 | 30 | 120 | 72 | 87 | 100 | 48 | 61 | |
| Interest | 1 | 1 | 1 | 2 | 2 | 2 | 4 | 4 | 4 | 6 | 5 |
| Depreciation | 19 | 21 | 20 | 19 | 19 | 20 | 27 | 36 | 45 | 54 | 53 |
| Profit before Tax | 67 | 40 | 81 | 78 | 97 | 214 | 309 | 365 | 350 | 162 | 172 |
| Tax % | 30.50% | 21.00% | 22.88% | 16.55% | 26.31% | 23.14% | 23.15% | 23.12% | 24.38% | 25.71% | 26.87% |
| Net Profit | 47 | 31 | 62 | 65 | 71 | 164 | 238 | 280 | 264 | 120 | 126 |
| EPS | 2.62 | 1.74 | 3.42 | 3.53 | 3.89 | 8.95 | 12.93 | 15.26 | 14.39 | 6.55 | — |
| Dividend Payout % | 62.03% | 93.11% | 62.05% | 76.42% | 55.55% | 46.93% | 34.79% | 39.33% | 41.71% | 54.92% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 19%
- 3 Years:
- -7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 6%
- 5 Years:
- 11%
- 3 Years:
- -20%
STOCK PRICE CAGR
- 10 Years:
- 14%
- 5 Years:
- -2%
- 3 Years:
- -18%
- 1 Year:
- -17%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 19%
- 3 Years:
- 17%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 36 | 36 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| 675 | 683 | 697 | 666 | 738 | 867 | 1,027 | 1,224 | 1,376 | 1,390 | |
| 0 | 0 | 0 | 14 | 11 | 13 | 24 | 21 | 31 | 29 | |
| Trade Payables | 160 | 134 | 189 | 149 | 291 | 369 | 445 | 390 | 374 | 493 |
| 224 | 197 | 239 | 185 | 383 | 789 | 901 | 864 | 967 | 845 | |
| Total Liabilities | 1,095 | 1,050 | 1,161 | 1,050 | 1,461 | 2,075 | 2,433 | 2,537 | 2,784 | 2,793 |
| 174 | 202 | 196 | 197 | 187 | 189 | 221 | 240 | 293 | 303 | |
| Capital Work in Progress | 31 | 4 | 2 | 2 | 0 | 1 | 7 | 2 | 13 | 1 |
| 301 | 366 | 375 | 312 | 475 | 613 | 690 | 637 | 563 | 567 | |
| 64 | 47 | 104 | 73 | 89 | 305 | 298 | 170 | 221 | 226 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 495 | 430 | 436 | |
| Cash & Bank | 61 | 69 | 55 | 23 | 97 | 106 | 88 | 137 | 112 | 123 |
| 463 | 362 | 430 | 443 | 611 | 861 | 1,130 | 855 | 1,151 | 1,137 | |
| Total Assets | 1,095 | 1,050 | 1,161 | 1,050 | 1,461 | 2,075 | 2,433 | 2,537 | 2,784 | 2,793 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 108 | 22 | 30 | 224 | 193 | 188 | 178 | 73 | 247 | |
| Cash from Investing | -13 | -67 | -4 | 67 | -155 | -106 | -66 | -30 | 15 | -96 |
| Cash from Financing | 8 | -27 | -37 | -96 | -5 | -43 | -91 | -104 | -134 | -137 |
| 13 | 9 | -37 | -16 | 50 | 3 | -26 | 44 | -46 | 13 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-24 - Praj Industries Limited has informed the Exchange about Participation in Investor Conference
2026-08-18 - Praj Industries Limited has informed the Exchange about Transcript
2026-08-14 - Praj Industries Limited has informed the Exchange about Link of Recording
2026-08-14 - Praj Industries Limited has informed the Exchange regarding Change in Director(s) of the company.
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 - 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 - Praj Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 13, 2026
2026-08-13 - Praj Industries Limited has informed the Exchange regarding Change in Director(s) of the company.
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
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Praj Industries Ltd.
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