Praj Industries Ltd.
•₹ 344.35-3.93%
2026-08-21
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 208.0 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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BHEL | 418.50 | 59.91 | 145724.35 | 0.33 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| 2. | THERMAX | 4024.55 | 80.82 | 47955.05 | 0.50 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| 3. | INDOMIM | 966.60 | 89.58 | 47796.52 | 0.61 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| 4. | KIRLOSENG | 2081.95 | 55.47 | 30296.51 | 0.34 | 111.06 | -20.05 | 1999.53 | 13.36 | 14.46 | 15.02 |
| 5. | JYOTICNC | 951.90 | 67.29 | 21648.40 | 0.00 | 57.14 | -19.99 | 508.47 | 23.97 | 23.88 | 21.40 |
| 6. | AZAD | 2827.20 | 131.38 | 18258.55 | 0.00 | 35.16 | 19.46 | 172.60 | 25.90 | 12.28 | 37.29 |
| 7. | TRITURBINE | 569.95 | 53.88 | 18118.62 | 0.75 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| 8. | INOXINDIA | 1932.55 | 68.83 | 17540.50 | 0.10 | 580.72 | 850.16 | 3707.90 | 991.77 | 33.54 | 20.46 |
| 9. | LLOYDSENGG | 92.99 | 64.48 | 14423.11 | 0.27 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| 10. | TEGA | 1724.35 | 613.12 | 12954.64 | 0.12 | -108.25 | -406.36 | 1723.44 | 383.99 | 18.56 | 3.27 |
| 11. | KRN | 1502.65 | 101.46 | 9836.12 | 0.00 | 32.90 | 164.84 | 252.32 | 118.87 | 21.21 | 19.44 |
| 12. | PRAJIND | 340.70 | 207.99 | 6262.51 | 1.06 | 11.61 | 117.34 | 715.82 | 11.81 | 5.22 | 4.20 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 737 | 882 | 829 | 1,019 | 699 | 816 | 853 | 860 | 640 | 842 | 841 | 845 | 716 | |
| 665 | 805 | 731 | 892 | 612 | 730 | 780 | 784 | 609 | 786 | 794 | 821 | 715 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 16 | 17 | 9 | 16 | 17 | 14 | 14 | 10 | 9 | 5 | 6 | 24 | 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 |
| 78 | 85 | 92 | 123 | 107 | 74 | 59 | 58 | 10 | 30 | -13 | 24 | 21 | |
| 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 Profit | 0 | 0 | 0 | 0 | 84 | 54 | 41 | 40 | 5 | 19 | -12 | 12 | 12 |
| 3 | 3 | 4 | 5 | 5 | 3 | 2 | 2 | 0 | 1 | -1 | 1 | 0 | |
| Equity Capital | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| 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% |
| Equity Capital | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| 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% |
Jun 2023
- 737
- 665
- Operating Profit
- —
- OPM %
- —
- Other Income
- 16
- Interest
- 1
- Depreciation
- 9
- 78
- Tax %
- 24.49%
- Net Profit
- 0
- 3
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 882
- 805
- Operating Profit
- —
- OPM %
- —
- Other Income
- 17
- Interest
- 1
- Depreciation
- 9
- 85
- Tax %
- 26.46%
- Net Profit
- 0
- 3
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 829
- 731
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 4
- Depreciation
- 11
- 92
- Tax %
- 23.40%
- Net Profit
- 0
- 4
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 1,019
- 892
- Operating Profit
- —
- OPM %
- —
- Other Income
- 16
- Interest
- 4
- Depreciation
- 15
- 123
- Tax %
- 25.27%
- Net Profit
- 0
- 5
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 699
- 612
- Operating Profit
- —
- OPM %
- —
- Other Income
- 17
- Interest
- 5
- Depreciation
- 20
- 107
- Tax %
- 21.36%
- Net Profit
- 84
- 5
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 816
- 730
- Operating Profit
- —
- OPM %
- —
- Other Income
- 14
- Interest
- 5
- Depreciation
- 21
- 74
- Tax %
- 27.69%
- Net Profit
- 54
- 3
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 853
- 780
- Operating Profit
- —
- OPM %
- —
- Other Income
- 14
- Interest
- 4
- Depreciation
- 23
- 59
- Tax %
- 30.13%
- Net Profit
- 41
- 2
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 860
- 784
- Operating Profit
- —
- OPM %
- —
- Other Income
- 10
- Interest
- 5
- Depreciation
- 22
- 58
- Tax %
- 31.66%
- Net Profit
- 40
- 2
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 640
- 609
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 5
- Depreciation
- 25
- 10
- Tax %
- 44.43%
- Net Profit
- 5
- 0
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 842
- 786
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 5
- Depreciation
- 27
- 30
- Tax %
- 34.89%
- Net Profit
- 19
- 1
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 841
- 794
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 5
- Depreciation
- 27
- -13
- Tax %
- 3.50%
- Net Profit
- -12
- -1
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 845
- 821
- Operating Profit
- —
- OPM %
- —
- Other Income
- 24
- Interest
- 5
- Depreciation
- 27
- 24
- Tax %
- 50.64%
- Net Profit
- 12
- 1
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 716
- 715
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 4
- Depreciation
- 25
- 21
- Tax %
- 44.86%
- Net Profit
- 12
- 0
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 37
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 812 | 964 | 1,076 | 1,106 | 1,313 | 2,223 | 3,582 | 3,391 | 3,228 | 3,168 | 3,244 | |
| 743 | 916 | 997 | 1,037 | 1,210 | 2,087 | 3,288 | 3,027 | 2,914 | 3,016 | 3,116 | |
| Operating Profit | 91 | 78 | 112 | 108 | 138 | 230 | 354 | 431 | 375 | 202 | — |
| OPM % | 11 | 8 | 10 | 10 | 11 | 10 | 10 | 13 | 12 | 6 | — |
| Other Income | 22 | 30 | 32 | 39 | 36 | 94 | 60 | 67 | 61 | 50 | 56 |
| Interest | 1 | 1 | 1 | 3 | 3 | 3 | 5 | 10 | 18 | 20 | 19 |
| Depreciation | 22 | 24 | 23 | 22 | 22 | 23 | 30 | 44 | 86 | 106 | 106 |
| 68 | 53 | 88 | 83 | 113 | 205 | 319 | 377 | 299 | 50 | 61 | |
| Tax % | 34 | 26 | 22 | 15 | 28 | 27 | 25 | 25 | 27 | 52 | 51 |
| Net Profit | 45 | 39 | 68 | 70 | 81 | 150 | 240 | 283 | 219 | 24 | 30 |
| EPS | 2 | 2 | 4 | 4 | 4 | 8 | 13 | 15 | 12 | 1 | — |
| Dividend Payout % | 65 | 74 | 57 | 70 | 49 | 51 | 34 | 39 | 50 | 278 | — |
| 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 | 2 | 4 | 4 | 4 | 8 | 13 | 15 | 12 | 1 | — |
| 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 | 2 | 4 | 4 | 4 | 8 | 13 | 15 | 12 | 1 | — |
Mar 2017
- 812
- 743
- Operating Profit
- 91
- OPM %
- 11
- Other Income
- 22
- Interest
- 1
- Depreciation
- 22
- 68
- Tax %
- 34
- Net Profit
- 45
- EPS
- 2
- Dividend Payout %
- 65
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2018
- 964
- 916
- Operating Profit
- 78
- OPM %
- 8
- Other Income
- 30
- Interest
- 1
- Depreciation
- 24
- 53
- Tax %
- 26
- Net Profit
- 39
- EPS
- 2
- Dividend Payout %
- 74
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2019
- 1,076
- 997
- Operating Profit
- 112
- OPM %
- 10
- Other Income
- 32
- Interest
- 1
- Depreciation
- 23
- 88
- Tax %
- 22
- Net Profit
- 68
- EPS
- 4
- Dividend Payout %
- 57
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2020
- 1,106
- 1,037
- Operating Profit
- 108
- OPM %
- 10
- Other Income
- 39
- Interest
- 3
- Depreciation
- 22
- 83
- Tax %
- 15
- Net Profit
- 70
- EPS
- 4
- Dividend Payout %
- 70
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2021
- 1,313
- 1,210
- Operating Profit
- 138
- OPM %
- 11
- Other Income
- 36
- Interest
- 3
- Depreciation
- 22
- 113
- Tax %
- 28
- Net Profit
- 81
- EPS
- 4
- Dividend Payout %
- 49
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2022
- 2,223
- 2,087
- Operating Profit
- 230
- OPM %
- 10
- Other Income
- 94
- Interest
- 3
- Depreciation
- 23
- 205
- Tax %
- 27
- Net Profit
- 150
- EPS
- 8
- Dividend Payout %
- 51
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 8
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 8
Mar 2023
- 3,582
- 3,288
- Operating Profit
- 354
- OPM %
- 10
- Other Income
- 60
- Interest
- 5
- Depreciation
- 30
- 319
- Tax %
- 25
- Net Profit
- 240
- EPS
- 13
- Dividend Payout %
- 34
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2024
- 3,391
- 3,027
- Operating Profit
- 431
- OPM %
- 13
- Other Income
- 67
- Interest
- 10
- Depreciation
- 44
- 377
- Tax %
- 25
- Net Profit
- 283
- EPS
- 15
- Dividend Payout %
- 39
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 15
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 15
Mar 2025
- 3,228
- 2,914
- Operating Profit
- 375
- OPM %
- 12
- Other Income
- 61
- Interest
- 18
- Depreciation
- 86
- 299
- Tax %
- 27
- Net Profit
- 219
- EPS
- 12
- Dividend Payout %
- 50
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 12
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 12
Mar 2026
- 3,168
- 3,016
- Operating Profit
- 202
- OPM %
- 6
- Other Income
- 50
- Interest
- 20
- Depreciation
- 106
- 50
- Tax %
- 52
- Net Profit
- 24
- EPS
- 1
- Dividend Payout %
- 278
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 1
TTM
- 3,244
- 3,116
- Operating Profit
- —
- OPM %
- —
- Other Income
- 56
- Interest
- 19
- Depreciation
- 106
- 61
- Tax %
- 51
- Net Profit
- 30
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
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:
- 15%
- 5 Years:
- 3%
- 3 Years:
- -10%
- 1 Year:
- -13%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 17%
- 3 Years:
- 14%
- Last Year:
- 2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 36 | 36 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| 670 | 686 | 706 | 681 | 763 | 876 | 1,039 | 1,238 | 1,344 | 1,267 | |
| 4 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 213 | 176 | 235 | 187 | 342 | 425 | 505 | 497 | 482 | 586 |
| 261 | 225 | 261 | 239 | 442 | 878 | 1,027 | 1,115 | 1,271 | 1,112 | |
| Total Liabilities | 1,185 | 1,129 | 1,238 | 1,144 | 1,583 | 2,216 | 2,608 | 2,886 | 3,134 | 3,001 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 256 | 283 | 276 | 280 | 270 | 272 | 303 | 474 | 567 | 560 | |
| Capital Work in Progress | 31 | 4 | 2 | 2 | 0 | 1 | 7 | 3 | 17 | 6 |
| 134 | 201 | 211 | 164 | 335 | 463 | 543 | 497 | 428 | 418 | |
| 105 | 81 | 126 | 111 | 129 | 345 | 334 | 221 | 253 | 266 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 643 | 556 | 559 | |
| Cash & Bank | 74 | 80 | 88 | 49 | 132 | 155 | 145 | 213 | 181 | 204 |
| 585 | 480 | 534 | 537 | 717 | 979 | 1,276 | 835 | 1,131 | 989 | |
| Total Assets | 1,185 | 1,129 | 1,238 | 1,144 | 1,583 | 2,216 | 2,608 | 2,886 | 3,134 | 3,001 |
| Total Debt | 4 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 374 | 399 | 375 | 371 | 471 | 576 | 681 | 751 | 825 | 749 |
| Contingent Liabilities | 98 | 119 | 81 | 83 | 79 | 39 | 27 | 6 | 6 | 5 |
| Book Value per Share | 39.33 | 39.91 | 40.65 | 39.16 | 43.66 | 49.70 | 58.53 | 69.33 | 75.13 | 70.90 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 4 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 374 | 399 | 375 | 371 | 471 | 576 | 681 | 751 | 825 | 749 |
| Contingent Liabilities | 98 | 119 | 81 | 83 | 79 | 39 | 27 | 6 | 6 | 5 |
| Book Value per Share | 39.33 | 39.91 | 40.65 | 39.16 | 43.66 | 49.70 | 58.53 | 69.33 | 75.13 | 70.90 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
Mar 2017
- Equity Capital
- 36
- 670
- 4
- Trade Payables
- 213
- 261
- Total Liabilities
- 1,185
- 256
- Capital Work in Progress
- 31
- 134
- 105
- 0
- Cash & Bank
- 74
- 585
- Total Assets
- 1,185
- Total Debt
- 4
- Net Working Capital
- 374
- Contingent Liabilities
- 98
- Book Value per Share
- 39.33
- Face Value
- 2.00
- Total Debt
- 4
- Net Working Capital
- 374
- Contingent Liabilities
- 98
- Book Value per Share
- 39.33
- Face Value
- 2.00
Mar 2018
- Equity Capital
- 36
- 686
- 6
- Trade Payables
- 176
- 225
- Total Liabilities
- 1,129
- 283
- Capital Work in Progress
- 4
- 201
- 81
- 0
- Cash & Bank
- 80
- 480
- Total Assets
- 1,129
- Total Debt
- 6
- Net Working Capital
- 399
- Contingent Liabilities
- 119
- Book Value per Share
- 39.91
- Face Value
- 2.00
- Total Debt
- 6
- Net Working Capital
- 399
- Contingent Liabilities
- 119
- Book Value per Share
- 39.91
- Face Value
- 2.00
Mar 2019
- Equity Capital
- 37
- 706
- 0
- Trade Payables
- 235
- 261
- Total Liabilities
- 1,238
- 276
- Capital Work in Progress
- 2
- 211
- 126
- 0
- Cash & Bank
- 88
- 534
- Total Assets
- 1,238
- Total Debt
- 0
- Net Working Capital
- 375
- Contingent Liabilities
- 81
- Book Value per Share
- 40.65
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 375
- Contingent Liabilities
- 81
- Book Value per Share
- 40.65
- Face Value
- 2.00
Mar 2020
- Equity Capital
- 37
- 681
- 0
- Trade Payables
- 187
- 239
- Total Liabilities
- 1,144
- 280
- Capital Work in Progress
- 2
- 164
- 111
- 0
- Cash & Bank
- 49
- 537
- Total Assets
- 1,144
- Total Debt
- 0
- Net Working Capital
- 371
- Contingent Liabilities
- 83
- Book Value per Share
- 39.16
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 371
- Contingent Liabilities
- 83
- Book Value per Share
- 39.16
- Face Value
- 2.00
Mar 2021
- Equity Capital
- 37
- 763
- 0
- Trade Payables
- 342
- 442
- Total Liabilities
- 1,583
- 270
- Capital Work in Progress
- 0
- 335
- 129
- 0
- Cash & Bank
- 132
- 717
- Total Assets
- 1,583
- Total Debt
- 0
- Net Working Capital
- 471
- Contingent Liabilities
- 79
- Book Value per Share
- 43.66
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 471
- Contingent Liabilities
- 79
- Book Value per Share
- 43.66
- Face Value
- 2.00
Mar 2022
- Equity Capital
- 37
- 876
- 0
- Trade Payables
- 425
- 878
- Total Liabilities
- 2,216
- 272
- Capital Work in Progress
- 1
- 463
- 345
- 0
- Cash & Bank
- 155
- 979
- Total Assets
- 2,216
- Total Debt
- 0
- Net Working Capital
- 576
- Contingent Liabilities
- 39
- Book Value per Share
- 49.70
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 576
- Contingent Liabilities
- 39
- Book Value per Share
- 49.70
- Face Value
- 2.00
Mar 2023
- Equity Capital
- 37
- 1,039
- 0
- Trade Payables
- 505
- 1,027
- Total Liabilities
- 2,608
- 303
- Capital Work in Progress
- 7
- 543
- 334
- 0
- Cash & Bank
- 145
- 1,276
- Total Assets
- 2,608
- Total Debt
- 0
- Net Working Capital
- 681
- Contingent Liabilities
- 27
- Book Value per Share
- 58.53
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 681
- Contingent Liabilities
- 27
- Book Value per Share
- 58.53
- Face Value
- 2.00
Mar 2024
- Equity Capital
- 37
- 1,238
- 0
- Trade Payables
- 497
- 1,115
- Total Liabilities
- 2,886
- 474
- Capital Work in Progress
- 3
- 497
- 221
- 643
- Cash & Bank
- 213
- 835
- Total Assets
- 2,886
- Total Debt
- 0
- Net Working Capital
- 751
- Contingent Liabilities
- 6
- Book Value per Share
- 69.33
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 751
- Contingent Liabilities
- 6
- Book Value per Share
- 69.33
- Face Value
- 2.00
Mar 2025
- Equity Capital
- 37
- 1,344
- 0
- Trade Payables
- 482
- 1,271
- Total Liabilities
- 3,134
- 567
- Capital Work in Progress
- 17
- 428
- 253
- 556
- Cash & Bank
- 181
- 1,131
- Total Assets
- 3,134
- Total Debt
- 0
- Net Working Capital
- 825
- Contingent Liabilities
- 6
- Book Value per Share
- 75.13
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 825
- Contingent Liabilities
- 6
- Book Value per Share
- 75.13
- Face Value
- 2.00
Mar 2026
- Equity Capital
- 37
- 1,267
- 0
- Trade Payables
- 586
- 1,112
- Total Liabilities
- 3,001
- 560
- Capital Work in Progress
- 6
- 418
- 266
- 559
- Cash & Bank
- 204
- 989
- Total Assets
- 3,001
- Total Debt
- 0
- Net Working Capital
- 749
- Contingent Liabilities
- 5
- Book Value per Share
- 70.90
- Face Value
- 2.00
- Total Debt
- 0
- Net Working Capital
- 749
- Contingent Liabilities
- 5
- Book Value per Share
- 70.90
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 20 | 101 | 33 | 15 | 225 | 188 | 162 | 199 | 43 | 200 | |
| Cash from Investing | -8 | -71 | -6 | 62 | -164 | -140 | -84 | -10 | 71 | -6 |
| Cash from Financing | -4 | -25 | -43 | -98 | -6 | -44 | -93 | -124 | -161 | -187 |
| 8 | 6 | -16 | -21 | 54 | 4 | -16 | 65 | -47 | 6 | |
| Free Cash Flow | -16 | 78 | 20 | -24 | 219 | 162 | 99 | -16 | -131 | 179 |
| OCF / Net Profit | 0.45 | 2.57 | 0.48 | 0.21 | 2.78 | 1.25 | 0.68 | 0.70 | 0.20 | 8.39 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 278 | 456 | 476 | 440 | 332 | 292 |
| OCF / Net Profit | 0.45 | 2.57 | 0.48 | 0.21 | 2.78 | 1.25 | 0.68 | 0.70 | 0.20 | 8.39 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 278 | 456 | 476 | 440 | 332 | 292 |
Mar 2017
- 20
- Cash from Investing
- -8
- Cash from Financing
- -4
- 8
- Free Cash Flow
- -16
- OCF / Net Profit
- 0.45
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.45
- Cumulative 5-Year FCF
- 0
Mar 2018
- 101
- Cash from Investing
- -71
- Cash from Financing
- -25
- 6
- Free Cash Flow
- 78
- OCF / Net Profit
- 2.57
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.57
- Cumulative 5-Year FCF
- 0
Mar 2019
- 33
- Cash from Investing
- -6
- Cash from Financing
- -43
- -16
- Free Cash Flow
- 20
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 0
Mar 2020
- 15
- Cash from Investing
- 62
- Cash from Financing
- -98
- -21
- Free Cash Flow
- -24
- OCF / Net Profit
- 0.21
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.21
- Cumulative 5-Year FCF
- 0
Mar 2021
- 225
- Cash from Investing
- -164
- Cash from Financing
- -6
- 54
- Free Cash Flow
- 219
- OCF / Net Profit
- 2.78
- Cumulative 5-Year FCF
- 278
- OCF / Net Profit
- 2.78
- Cumulative 5-Year FCF
- 278
Mar 2022
- 188
- Cash from Investing
- -140
- Cash from Financing
- -44
- 4
- Free Cash Flow
- 162
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 456
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 456
Mar 2023
- 162
- Cash from Investing
- -84
- Cash from Financing
- -93
- -16
- Free Cash Flow
- 99
- OCF / Net Profit
- 0.68
- Cumulative 5-Year FCF
- 476
- OCF / Net Profit
- 0.68
- Cumulative 5-Year FCF
- 476
Mar 2024
- 199
- Cash from Investing
- -10
- Cash from Financing
- -124
- 65
- Free Cash Flow
- -16
- OCF / Net Profit
- 0.70
- Cumulative 5-Year FCF
- 440
- OCF / Net Profit
- 0.70
- Cumulative 5-Year FCF
- 440
Mar 2025
- 43
- Cash from Investing
- 71
- Cash from Financing
- -161
- -47
- Free Cash Flow
- -131
- OCF / Net Profit
- 0.20
- Cumulative 5-Year FCF
- 332
- OCF / Net Profit
- 0.20
- Cumulative 5-Year FCF
- 332
Mar 2026
- 200
- Cash from Investing
- -6
- Cash from Financing
- -187
- 6
- Free Cash Flow
- 179
- OCF / Net Profit
- 8.39
- Cumulative 5-Year FCF
- 292
- OCF / Net Profit
- 8.39
- Cumulative 5-Year FCF
- 292
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 2.49 | 2.18 | 3.73 | 3.85 | 4.42 | 8.18 | 13.05 | 15.42 | 11.91 | 1.30 |
| Book Value (₹) | 39.33 | 39.91 | 40.65 | 39.16 | 43.66 | 49.70 | 58.53 | 69.33 | 75.13 | 70.90 |
| Dividend per Share (₹) | 1.62 | 1.62 | 2.12 | 2.70 | 2.16 | 4.20 | 4.50 | 6.00 | 6.00 | 3.60 |
| Cash EPS (₹) | 3.72 | 3.51 | 4.99 | 5.04 | 5.63 | 9.41 | 14.70 | 17.81 | 16.61 | 7.04 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 10.67% | 8.06% | 10.37% | 9.77% | 10.52% | 10.35% | 9.87% | 10.73% | 9.74% | 4.79% |
| Net Margin % | 5.23% | 4.07% | 6.34% | 6.37% | 6.18% | 6.76% | 6.70% | 8.36% | 6.78% | 0.75% |
| ROE % | 6.58% | 5.53% | 9.31% | 9.65% | 10.68% | 17.54% | 24.13% | 24.12% | 16.49% | 1.78% |
| ROCE % | 9.94% | 7.49% | 12.01% | 11.78% | 15.25% | 24.15% | 32.44% | 32.92% | 23.87% | 5.22% |
| 3.82% | 3.41% | 5.76% | 5.92% | 5.94% | 7.91% | 9.94% | 10.32% | 7.27% | 0.78% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 142 | 105 | 96 | 105 | 109 | 79 | 67 | 77 | 68 | 64 |
| Inventory Days | 44 | 35 | 35 | 39 | 33 | 39 | 35 | 30 | 27 | 30 |
| Payable Days | 211 | 138 | 138 | 138 | 130 | 104 | 75 | 97 | 108 | 120 |
| -25 | 2 | -6 | 6 | 13 | 14 | 26 | 10 | -13 | -26 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.01x | 0.01x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 52.62x | 47.42x | 116.24x | 27.85x | 40.57x | 82.72x | 69.85x | 39.56x | 17.18x | 3.46x |
| 1.81x | 2.02x | 1.77x | 1.91x | 1.62x | 1.45x | 1.45x | 1.51x | 1.51x | 1.46x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -24.73% | 18.66% | 11.68% | 2.79% | 18.66% | 69.35% | 61.14% | -5.32% | -4.82% | -1.86% |
| Operating Profit Growth % | -31.33% | -13.97% | 42.67% | -3.19% | 27.77% | 66.55% | 53.76% | 21.98% | -12.99% | -46.14% |
| Net Profit Growth % | -45.92% | -11.46% | 72.73% | 3.27% | 15.08% | 85.35% | 59.62% | 18.17% | -22.75% | -89.11% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 18.10% | -22.74% | -89.11% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 34.56x | 46.56x | 245.24x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.68x | 7.38x | 4.49x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.13% | 1.08% | 1.13% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 22.21x | 26.68x | 27.92x |
Mar 2017
- EPS (₹)
- 2.49
- Book Value (₹)
- 39.33
- Dividend per Share (₹)
- 1.62
- Cash EPS (₹)
- 3.72
- Operating Margin %
- 10.67%
- Net Margin %
- 5.23%
- ROE %
- 6.58%
- ROCE %
- 9.94%
- 3.82%
- Debtor Days
- 142
- Inventory Days
- 44
- Payable Days
- 211
- -25
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 52.62x
- 1.81x
- Revenue Growth %
- -24.73%
- Operating Profit Growth %
- -31.33%
- Net Profit Growth %
- -45.92%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 2.18
- Book Value (₹)
- 39.91
- Dividend per Share (₹)
- 1.62
- Cash EPS (₹)
- 3.51
- Operating Margin %
- 8.06%
- Net Margin %
- 4.07%
- ROE %
- 5.53%
- ROCE %
- 7.49%
- 3.41%
- Debtor Days
- 105
- Inventory Days
- 35
- Payable Days
- 138
- 2
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 47.42x
- 2.02x
- Revenue Growth %
- 18.66%
- Operating Profit Growth %
- -13.97%
- Net Profit Growth %
- -11.46%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 3.73
- Book Value (₹)
- 40.65
- Dividend per Share (₹)
- 2.12
- Cash EPS (₹)
- 4.99
- Operating Margin %
- 10.37%
- Net Margin %
- 6.34%
- ROE %
- 9.31%
- ROCE %
- 12.01%
- 5.76%
- Debtor Days
- 96
- Inventory Days
- 35
- Payable Days
- 138
- -6
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 116.24x
- 1.77x
- Revenue Growth %
- 11.68%
- Operating Profit Growth %
- 42.67%
- Net Profit Growth %
- 72.73%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 3.85
- Book Value (₹)
- 39.16
- Dividend per Share (₹)
- 2.70
- Cash EPS (₹)
- 5.04
- Operating Margin %
- 9.77%
- Net Margin %
- 6.37%
- ROE %
- 9.65%
- ROCE %
- 11.78%
- 5.92%
- Debtor Days
- 105
- Inventory Days
- 39
- Payable Days
- 138
- 6
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 27.85x
- 1.91x
- Revenue Growth %
- 2.79%
- Operating Profit Growth %
- -3.19%
- Net Profit Growth %
- 3.27%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 4.42
- Book Value (₹)
- 43.66
- Dividend per Share (₹)
- 2.16
- Cash EPS (₹)
- 5.63
- Operating Margin %
- 10.52%
- Net Margin %
- 6.18%
- ROE %
- 10.68%
- ROCE %
- 15.25%
- 5.94%
- Debtor Days
- 109
- Inventory Days
- 33
- Payable Days
- 130
- 13
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 40.57x
- 1.62x
- Revenue Growth %
- 18.66%
- Operating Profit Growth %
- 27.77%
- Net Profit Growth %
- 15.08%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 8.18
- Book Value (₹)
- 49.70
- Dividend per Share (₹)
- 4.20
- Cash EPS (₹)
- 9.41
- Operating Margin %
- 10.35%
- Net Margin %
- 6.76%
- ROE %
- 17.54%
- ROCE %
- 24.15%
- 7.91%
- Debtor Days
- 79
- Inventory Days
- 39
- Payable Days
- 104
- 14
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 82.72x
- 1.45x
- Revenue Growth %
- 69.35%
- Operating Profit Growth %
- 66.55%
- Net Profit Growth %
- 85.35%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 13.05
- Book Value (₹)
- 58.53
- Dividend per Share (₹)
- 4.50
- Cash EPS (₹)
- 14.70
- Operating Margin %
- 9.87%
- Net Margin %
- 6.70%
- ROE %
- 24.13%
- ROCE %
- 32.44%
- 9.94%
- Debtor Days
- 67
- Inventory Days
- 35
- Payable Days
- 75
- 26
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 69.85x
- 1.45x
- Revenue Growth %
- 61.14%
- Operating Profit Growth %
- 53.76%
- Net Profit Growth %
- 59.62%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 15.42
- Book Value (₹)
- 69.33
- Dividend per Share (₹)
- 6.00
- Cash EPS (₹)
- 17.81
- Operating Margin %
- 10.73%
- Net Margin %
- 8.36%
- ROE %
- 24.12%
- ROCE %
- 32.92%
- 10.32%
- Debtor Days
- 77
- Inventory Days
- 30
- Payable Days
- 97
- 10
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 39.56x
- 1.51x
- Revenue Growth %
- -5.32%
- Operating Profit Growth %
- 21.98%
- Net Profit Growth %
- 18.17%
- 18.10%
- P/E (x)
- 34.56x
- P/B (x)
- 7.68x
- Dividend Yield %
- 1.13%
- 22.21x
Mar 2025
- EPS (₹)
- 11.91
- Book Value (₹)
- 75.13
- Dividend per Share (₹)
- 6.00
- Cash EPS (₹)
- 16.61
- Operating Margin %
- 9.74%
- Net Margin %
- 6.78%
- ROE %
- 16.49%
- ROCE %
- 23.87%
- 7.27%
- Debtor Days
- 68
- Inventory Days
- 27
- Payable Days
- 108
- -13
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 17.18x
- 1.51x
- Revenue Growth %
- -4.82%
- Operating Profit Growth %
- -12.99%
- Net Profit Growth %
- -22.75%
- -22.74%
- P/E (x)
- 46.56x
- P/B (x)
- 7.38x
- Dividend Yield %
- 1.08%
- 26.68x
Mar 2026
- EPS (₹)
- 1.30
- Book Value (₹)
- 70.90
- Dividend per Share (₹)
- 3.60
- Cash EPS (₹)
- 7.04
- Operating Margin %
- 4.79%
- Net Margin %
- 0.75%
- ROE %
- 1.78%
- ROCE %
- 5.22%
- 0.78%
- Debtor Days
- 64
- Inventory Days
- 30
- Payable Days
- 120
- -26
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 3.46x
- 1.46x
- Revenue Growth %
- -1.86%
- Operating Profit Growth %
- -46.14%
- Net Profit Growth %
- -89.11%
- -89.11%
- P/E (x)
- 245.24x
- P/B (x)
- 4.49x
- Dividend Yield %
- 1.13%
- 27.92x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-18 - Praj Industries Limited has informed the Exchange about Transcript
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - Praj Industries Limited has informed the Exchange about Link of Recording
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jun 2026
May 2026
Mar 2026