Prakash Industries Ltd.

•

prakash.comBSE: 506022NSE: PRAKASH

Market Cap₹ 2,230 Cr.

Current Price

High / Low₹ 177 / 110

Stock P/E7.1

Book Value₹ 204

Price to Book0.86

Dividend Yield1.45 %

ROCE11.6 %

ROE11.2 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2020 • Steel: 99.9% • Power: 0.1%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has delivered good profit growth of 24.6% CAGR over last 5 years
Company is almost debt free
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.49x)
Company generates healthy free cash flow
Company comfortably covers its interest (8.7x coverage)
Attractively priced for its growth - PEG of 0.3

CONS

Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 12.4% versus prior year
Company has a low return on capital employed of 10.5%
Company has a low return on equity of 9.8% over last 3 years
Effective tax rate is unusually low at 0.1% - earnings may be flattered
Company has delivered a poor sales growth of 6.2% over past five years

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

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JSWSTEEL	1306.00	12.89	319376.29	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.60	20.77	229196.25	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.35	18.98	81102.86	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2522.00	28.81	66528.00	0.20	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	APLAPOLLO	2217.80	50.10	61579.08	0.38	263.11	10.94	5606.71	12.07	31.83	7.34
6.	JSL	733.55	18.62	60475.30	0.55	768.66	7.56	11278.54	10.50	19.19	12.09
7.	SHYAMMETL	1072.40	26.65	29934.10	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	309.55	30.29	19795.98	0.65	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2629.05	42.57	18427.54	0.38	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	490.90	15.31	17298.40	0.41	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	239.75	20.01	16140.90	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	PRAKASH	124.50	5.77	2229.57	1.45	71.27	-22.02	1032.00	-0.49	11.60	14.28

Detailed Comparison with:

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
	1,013	889	885	890	1,167	1,077	926	845	1,037	723	799	920	1,032
	895	761	762	767	1,035	946	801	713	899	615	674	777	946
Operating Profit	118	128	123	123	132	131	125	132	138	108	124	143	147
OPM %	11.64%	14.43%	13.95%	13.81%	11.30%	12.20%	13.47%	15.58%	13.30%	14.96%	15.59%	15.51%	14.28%
Other Income	30	16	7	11	6	6	7	7	6	6	12	6	7
Interest	19	17	12	10	12	11	12	11	11	10	9	14	18
Depreciation	39	38	38	37	35	36	36	36	42	42	42	42	43
	89	89	81	87	90	90	84	91	91	62	84	93	93
Tax %	0.00%	0.00%	0.00%	-2.30%	0.00%	0.00%	0.05%	0.50%	0.00%	0.00%	-2.84%	0.00%	23.15%
Net Profit	89	89	81	89	90	90	84	91	91	62	87	93	71
	5	5	4	5	5	5	5	5	5	3	5	5	0
Equity Capital	179	179	179	179	179	179	179	179	179	179	179	179	179
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	2,053	2,174	2,935	3,588	2,974	3,216	3,929	3,444	3,678	4,014	3,474
	1,862	1,910	2,351	2,800	2,625	2,901	3,538	3,031	3,185	3,495	3,012
Operating Profit	196	266	598	795	356	323	399	425	556	545	—
OPM %	10	12	20	22	12	10	10	12	15	14	—
Other Income	5	3	15	8	7	8	8	11	64	25	30
Interest	71	75	89	102	93	74	73	82	57	46	52
Depreciation	102	103	121	134	145	154	158	152	153	143	169
	23	88	388	553	118	95	169	190	346	356	332
Tax %	0	8	1	2	0	0	0	0	-1	0	6
Net Profit	23	81	386	539	118	95	169	190	348	355	313
EPS	2	5	23	29	6	5	9	11	19	20	—
Dividend Payout %	0	0	0	4	0	0	0	0	6	8	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	6	25	33	7	5	9	11	19	20	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 6%
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: 44%
5 Years:: 25%
3 Years:: 28%

STOCK PRICE CAGR

10 Years:: 9%
5 Years:: 12%
3 Years:: -2%
1 Year:: -25%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 8%
3 Years:: 10%
Last Year:: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	134	139	157	163	171	179	179	179	179	179
	2,003	2,082	2,504	2,605	2,733	2,720	2,633	2,775	2,845	3,140
	625	143	115	151	134	137	98	198	105	201
Trade Payables	89	97	140	148	144	157	151	203	188	112
	511	800	816	748	683	691	851	896	742	853
Total Liabilities	3,362	3,262	3,732	3,816	3,866	3,884	3,912	4,251	4,059	4,485
ASSETS	-	-	-	-	-	-	-	-	-	-
	1,635	1,578	2,377	2,357	3,013	2,976	2,939	3,118	2,720	3,274
Capital Work in Progress	955	1,141	690	710	171	122	46	172	495	0
	2	0	0	0	0	0	0	0	0	0
	183	188	251	233	137	294	348	312	301	484
	0	0	0	0	0	0	0	0	83	174
Cash & Bank	20	28	47	44	59	45	211	298	276	271
	567	326	367	471	486	447	368	351	183	283
Total Assets	3,362	3,262	3,732	3,816	3,866	3,884	3,912	4,251	4,059	4,485
Total Debt	821	866	818	661	572	553	481	506	268	328
Net Working Capital	-156	-174	7	-2	7	162	220	-15	5	237
Contingent Liabilities	78	110	143	145	147	82	199	275	230	210
Book Value per Share	158.93	159.72	169.59	169.49	169.58	161.90	157.04	164.94	168.85	185.32
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	242	269	476	696	388	159	350	585	601	142
Cash from Investing	-149	-248	-480	-535	-248	-129	-299	-545	-320	-126
Cash from Financing	-103	-14	10	-169	-126	-43	-59	-38	-288	2
	-10	7	7	-8	14	-13	-8	2	-6	18
Free Cash Flow	242	40	20	696	128	91	305	133	264	-47
OCF / Net Profit	10.36	3.32	1.23	1.29	3.28	1.67	2.07	3.07	1.73	0.40
Cumulative 5-Year FCF	0	0	0	0	1,126	974	1,239	1,353	921	746

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	1.74	5.83	24.62	33.01	6.90	5.32	9.42	10.64	19.44	19.85
Book Value (₹)	158.93	159.72	169.59	169.49	169.58	161.90	157.04	164.94	168.85	185.32
Dividend per Share (₹)	0.00	0.00	0.00	1.20	0.00	0.00	0.00	0.00	1.20	1.50
Cash EPS (₹)	9.31	13.23	32.33	41.21	15.36	13.91	18.24	19.11	27.97	27.82
PROFITABILITY
Operating Margin %	8.60%	11.03%	19.90%	22.17%	11.97%	10.03%	10.16%	12.33%	13.40%	12.94%
Net Margin %	1.02%	3.35%	12.85%	15.03%	3.97%	2.96%	4.29%	5.53%	9.47%	8.85%
ROE %	1.10%	3.72%	15.83%	19.86%	4.17%	3.29%	5.91%	6.61%	11.65%	11.21%
ROCE %	3.16%	5.41%	14.38%	18.53%	6.03%	4.87%	7.16%	8.08%	11.96%	11.60%
	0.69%	2.45%	11.05%	14.29%	3.08%	2.46%	4.33%	4.67%	8.38%	8.32%
EFFICIENCY
Debtor Days	14	12	11	13	21	19	10	9	9	12
Inventory Days	30	28	27	25	23	24	30	35	30	36
Payable Days	21	23	23	25	27	24	19	26	28	19
	24	17	14	13	17	20	20	18	12	28
FINANCIAL HEALTH
Debt to Equity (x)	0.38x	0.39x	0.31x	0.24x	0.20x	0.19x	0.17x	0.17x	0.09x	0.10x
Interest Coverage (x)	1.33x	2.18x	5.36x	6.41x	2.27x	2.30x	3.32x	3.31x	7.02x	8.68x
	0.72x	0.70x	1.01x	1.00x	1.01x	1.30x	1.35x	0.98x	1.01x	1.26x
GROWTH
Revenue Growth %	-27.61%	5.85%	35.03%	22.24%	-17.11%	8.15%	22.17%	-12.34%	6.80%	9.15%
Operating Profit Growth %	-53.01%	35.77%	124.61%	32.89%	-55.26%	-9.33%	23.78%	6.32%	31.06%	-2.06%
Net Profit Growth %	150.32%	246.45%	376.85%	39.60%	-78.08%	-19.34%	76.99%	12.90%	82.79%	2.09%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	82.78%	2.09%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.54x	8.03x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.98x	0.86x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.72%	0.94%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.33x	5.34x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.27	44.27	44.27	44.38	44.38	44.38	44.38	44.38
	3.95	3.69	3.82	4.28	4.36	4.03	3.89	3.71
	0.01	0.01	0.01	0.13	0.01	0.01	0.01	0.03
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	51.76	52.03	51.89	51.21	51.25	51.58	51.71	51.88

Documents

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

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Prakash Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-11

Outcome of Board Meeting

2026-08-11 - Prakash Industries Limited has informed the Exchange regarding the appointment of Senior Management Personnel of the Company

2026-08-11

Outcome of Board Meeting

2026-08-11 - Prakash Industries Limited has informed the Exchange regarding the appointment of Statutory Auditor

2026-08-11

Press Release

2026-08-11 - Prakash Industries Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "Press Release".

2026-08-11

Outcome of Board Meeting

2026-08-11 - Prakash Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-04

Copy of Newspaper Publication

2026-08-04 - Prakash Industries Limited has informed the Exchange about Copy of Newspaper Publication on transfer of unclaimed dividend and equity shares to Investor Education and Protection fund

2026-07-15

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-15 - Prakash Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-15

Structural Digital Database

2026-07-15 - Structural Digital Database

2026-06-27

Trading Window

2026-06-27 - Prakash Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

News

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