MarketFriction

Praj Industries Ltd

NSE PRAJIND · BSE 522205 · Industrial Products
₹303.25 -0.85%
NSE close2026-10-01
52 week range273.00 - 427.65
Market cap₹5,657 Cr.
P/E112
Microcap 250 Price band 20% Delivery 50.9%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue from operations8828291,019699816853860640842841845716
Operating costs798731888607730780784609786800821686
EBITDA8498131928673753156412330
EBITDA margin %10%12%13%13%11%9%9%4.9%7%4.9%2.8%4.2%
Depreciation & amortisation91115202123222527272725
Finance costs144554555554
Non-operating income119114014141095-233320
Pre-tax profit85921231077459581030-132421
Effective tax rate %26%23%25%21%28%30%32%44%35%-4%51%45%
Profit after tax62709284544140519-121212
Earnings per share (Rs)3.393.835.004.582.932.242.170.291.05-0.670.630.63
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue from operations1,0249159171,1411,1021,3052,3433,5283,4663,2283,1683,244
Operating costs9108468651,0621,0241,1922,1493,2203,0942,9143,0133,093
EBITDA11469527978112194308372314155150
EBITDA margin %11%8%6%7%7%9%8%9%11%10%4.9%4.6%
Depreciation & amortisation25222423222223304486106106
Finance costs2111333510182019
Non-operating income182227323026364559892135
Pre-tax profit105685388831132053193772995061
Effective tax rate %22%34%26%22%15%28%27%25%25%27%52%
Profit after tax8245396870811502402832192430
Earnings per share (Rs)4.632.492.183.733.854.428.1813.0515.4211.911.301.64
Paid out as dividend %35%65%74%57%70%49%51%34%39%50%278%
10 Years5 Years3 YearsTTM1 YearLast Year
Revenue CAGR12%19%-4%2%
Profit CAGR-13%-24%-56%-64%
Share price CAGR14%-3%-19%-10%
Average return on equity12%15%12%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Net block (property, plant)302272270297290294284286317474567560
Capital work in progress113142212743186
Investments158145134201211164335463543497428418
Current & other assets6827387526317447029751,4671,7521,8802,1442,072
Total assets1,1441,1571,1871,1331,2471,1621,5942,2182,6192,8943,1573,056
Share capital353636363737373737373737
Reserves & surplus5876206746907086837658791,0411,2381,3451,272
Total debt1716460002142169195173
Other liabilities & provisions5044854734015024427921,2811,4991,4501,5811,574
Equity + liabilities1,1441,1571,1871,1331,2471,1621,5942,2182,6192,8943,1573,056
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating cash flow1505120101331522518816219943200
Investing cash flow-772-8-69-366-164-137-78-6754
Free cash flow (after capex)15439-1685198217169127111-1157
Financing cash flow-40-68-4-25-43-98-6-44-93-124-161-187
Net change in cash33-1598-14-18556-970-4216
Cash conversion (OCF / EBITDA) %151%76%59%221%68%42%213%120%73%82%46%175%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Return on capital employed %12%16%10%6%11%11%15%23%31%29%18%6%
Receivable days101131118105981091278082686364
Inventory days1647982637673648655415660
Payable days1281621671371401241691068492106132
Cash cycle (days)13748333033592160541612-8
Working capital days2646665139651248163216
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoter group %32.82%32.81%32.81%32.81%32.81%32.81%32.81%32.81%32.81%32.81%32.81%32.81%
Foreign investors %17.93%17.37%18.87%18.55%19.03%18.63%17.16%16.86%17.53%17.32%17.74%17.75%
Domestic institutions %10.20%13.09%13.69%16.65%17.34%18.19%19.51%17.43%14.83%13.64%12.68%14.09%
Retail & others %39.04%36.74%34.64%31.99%30.82%30.38%30.52%32.89%34.82%36.23%36.77%35.34%
Shareholder count2,96,9313,14,4753,24,8493,27,6893,49,9243,53,0993,51,4323,86,4684,03,1104,06,8484,00,3973,83,086

Fundamentals

Market value₹ 5,657 Cr.
Last price₹ 308
P/E (trailing)112
Book value / share₹ 71.2
Return on capital6.12 %
Return on equity1.48 %
Dividend yield1.17 %
Face value₹ 2.00
Revenue CAGR (TTM)2%
Profit CAGR (TTM)-64%
Consolidated figures.
Valuation
Market capRs 5,574 Cr
Enterprise valueRs 5,543 Cr
P/E (TTM)185.13x
Price to book4.26x
Price to sales1.72x
EV / EBITDA29.82x
EV / EBIT69.06x
EV / sales1.71x
Price to cash flow27.86x
Earnings yield0.54%
Dividend yield1.19%
P/E, 3-year average108.80x
P/B, 3-year average6.51x
P/E, 5-year average80.24x
P/B, 5-year average6.67x
Profitability
Operating margin (excl. other income)4.89%
Operating margin (incl. other income)5.55%
EBITDA margin5.73%
Pre-tax margin1.89%
Net profit margin0.93%
Net margin, latest quarter1.62%
ROE1.77%
ROCE4.59%
ROA0.77%
ROE, 3-year average14.12%
ROCE, 3-year average18.60%
ROA, 3-year average6.09%
ROE, 5-year average16.78%
ROCE, 5-year average22.22%
ROA, 5-year average7.22%
ROIC (approx.)3.00%
Tax rate52.22%
Other income / net worth1.59%
Growth
Sales growth (latest year)-1.86%
Profit growth (latest year)-89.11%
Sales CAGR, 3 years-3.53%
Sales CAGR, 5 years19.41%
Profit CAGR, 3 years-53.67%
Profit CAGR, 5 years-21.71%
Sales growth QoQ-15.24%
Profit growth QoQ0.00%
Sales growth YoY (latest quarter)11.81%
Profit growth YoY (latest quarter)117.42%
Per share
EPS (TTM)Rs 1.64
EPS (latest year)Rs 1.30
EPS (latest quarter)Rs 0.63
EPS, 3-year averageRs 9.54
EPS, 5-year averageRs 9.97
Book value per shareRs 71.22
Sales per shareRs 176.46
Cash flow per shareRs 10.89
Dividend per share (latest year)Rs 3.60
Dividend per share, 3-year averageRs 5.20
Dividend per share, 5-year averageRs 4.86
Dividends
Dividend payout277.56%
Dividend payout, 3-year average122.28%
Dividend payout, 5-year average90.53%
Efficiency
Asset turnover1.04x
Fixed asset turnover5.66x
Inventory turnover9.06x
Inventory days40 days
Debtor days64 days
Debtors turnover5.67x
Leverage
Total debtRs 173 Cr
Cash and bankRs 204 Cr
Net debtRs -31 Cr
Debt to equity0.13x
Net debt / EBITDA-0.17x
Interest coverage4.24x
Current ratio (filing 2026-03-31)1.46x
Quick ratio (filing 2026-03-31)1.30x
Trade payables (filing 2026-03-31)Rs 586 Cr
Owners' fund to total sources42.84%
Debt to assets5.66%
Cash flow
Operating cash flow (latest year)Rs 200 Cr
Investing cash flow (latest year)Rs 4 Cr
Financing cash flow (latest year)Rs -187 Cr
Net change in cash (latest year)Rs 16 Cr
Sales to cash flow15.83x
Statement figures
Net sales (TTM)Rs 3,244 Cr
Net sales (latest year)Rs 3,168 Cr
Sales (latest quarter)Rs 716 Cr
Operating profit excl. other income (latest year)Rs 155 Cr
Operating profit (latest quarter)Rs 30 Cr
Other income (TTM)Rs 35 Cr
EBITDA (TTM)Rs 186 Cr
PBDT (TTM)Rs 167 Cr
Profit before tax (TTM)Rs 61 Cr
Tax (latest year)Rs 26 Cr
Net profit (TTM)Rs 30 Cr
Net profit (latest year)Rs 24 Cr
Net profit (latest quarter)Rs 12 Cr
Depreciation (TTM)Rs 106 Cr
Depreciation (latest quarter)Rs 25 Cr
Interest (TTM)Rs 19 Cr
Cost of goods sold (latest year)Rs 2,412 Cr
Total expenditure (latest year)Rs 3,013 Cr
Total income (latest year)Rs 3,189 Cr
Share capitalRs 37 Cr
ReservesRs 1,272 Cr
Shareholders' fundsRs 1,309 Cr
Total assetsRs 3,056 Cr
Net blockRs 560 Cr
Capital work in progressRs 6 Cr
InvestmentsRs 418 Cr
ReceivablesRs 559 Cr
InventoryRs 266 Cr
Other liabilitiesRs 1,574 Cr
Shares outstanding (crore)18.38
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 185.1 is at the 95th percentile of its own 9.4-year range (median 43.6, low 14.8, high 271.6).
P/B 4.26 is at the 43th percentile (median 4.83).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPRAJINDNifty 50Difference
1 week-4.1%-2.8% -1.3 pts
1 month-10.9%-6.8% -4.1 pts
3 months-14.3%-7.6% -6.6 pts
6 months-4.7%+0.4% -5.1 pts
1 year-15.5%-9.9% -5.6 pts
2 years-60.0%-13.6% -46.4 pts
3 years-48.3%+14.2% -62.5 pts
5 years-13.2%+27.9% -41.1 pts
29 mutual fund schemes hold about ₹926 Cr. Over three months 25 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Canara Rob Large and Mid Cap Fund0.97%255 +10%
Nippon India Small Cap Fund0.21%174 +8%
HDFC Multi Cap Fund0.67%138 +45%
UTI Small Cap Fund1.13%60 +13%
UTI Value Fund0.56%53 +191%
UTI Multi Cap Fund1.58%34 +45%
UTI Infrastructure Fund1.62%34 +69%
Aditya Birla SL Value Fund0.46%32 +9%
Canara Rob Multi Cap Fund0.49%28 +6%
HDFC Manufacturing Fund0.26%27 +100%
UTI Innovation Fund2.64%21 +5%
PGIM India Small Cap Fund1.06%19 +5%
Motilal Oswal Nifty Microcap 250 Index Fund0.44%11 +7%
Aditya Birla SL Mfg. Equity Fund0.66%9 +0%
ICICI Pru Manufacturing Fund0.11%8 +100%
Aditya Birla SL Infrastructure Fund0.60%7 +13%
Aditya Birla SL Dividend Yield Fund0.32%5 +100%
Canara Rob Infrastructure Fund0.47%5 +16%
UTI Conservative Hybrid Fund(M0.14%2 +693%
Aditya Birla SL Retirement Fund-300.45%2 +9%
PGIM India Multi Asset Allocation Fund0.37%1 +5%
ICICI Pru Energy Opportunities Fund0.01%1 +100%
Groww Nifty Total Market Index Fund0.02%0 +11%
Aditya Birla SL Retirement Fund-500.17%0 +14%
Angel One Nifty Total Market Index Fund0.02%0 +11%

Red flags

F-score 6 of 8
lookProfit leans on other income Other income was 42% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹716 Cr +11.9% vs Jun 2025. Net profit ₹12 Cr +140.0%.
Against our estimate for Jun 2026: sales +13.7%, profit +73.1% in line. Our estimate for Sep 2026: sales Rs 885 Cr, profit Rs 14 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-06Dividend - Rs 3.60 Per Share
2025-08-04Dividend - Rs 6 Per Share
2024-07-18Annual General Meeting/Dividend - Rs 6 Per Sh
2023-07-19Annual General Meeting/Dividend - Rs 4.50 Per Share
2022-07-27Annual General Meeting/Dividend - Rs 2.70 Per Share/ Special Dividend- Rs 1.50 Per Share
2021-08-03 Dividend - Rs 2.16 Per Share
2020-09-10 Annual General Meeting
2020-03-13 Interim Dividend - Rs 2.70 Per Share
2019-07-15 Annual General Meeting/Dividend - Rs 1.62 Per Share
2019-02-07 Interim Dividend - Re 0.50 Per Share
2018-07-27 Annual General Meeting/Dividend- Rs 1.62 Per Share
2017-08-02 Annual General Meeting/Dividend - Rs 1.62 Per Share
2016-03-17 Interim Dividend - Rs 1.62/- Per Share (Purpose Revised)
2015-07-29Annual General Meeting/Dividend - Rs 1.62/- Per Share
2014-07-22Annual General Meeting / Dividend - Rs 1.62/- Per Share
2014-02-13Interim Dividend Re.0.60/- Per Share (Purpose Revised)
2013-07-16Annual General Meeting/Dividend Rs 1.62 Per Equity Share
2012-07-12Annual General Meeting/Dividend Rs 1.62 Per Share
2011-07-14Annual General Meeting And Dividend Rs.1.26 Per Share
2010-07-15Annual General Meeting
2010-01-28Int Div-Rs.1.44 Per Sharepurpose Revised
2009-07-02Annual General Meeting
2009-02-06Int Div-65%+Spl Div-25% Purpose Revised
2008-06-19Agm
2008-02-07Interim Div-Rs.1.98 Pr Shpurpose Revised
2007-07-18Bonus 1:10.5000
2007-03-20Int Div-Rs.1.80/- Per Sh Purpose Revised
2006-10-19Interim Dividend-45% Purpose Revised
2006-07-12Agm
DateTypeWhat it says
2026-09-16Press ReleaseA press release dated September 16, 2026, titled "Praj and Gevo Enter Development & Commercialization Agreement for Bio-IBA in India".
2026-08-24Concall / analyst meetParticipation in Investor Conference
2026-08-18Concall / analyst meetTranscript
2026-08-14Concall / analyst meetLink of Recording
2026-08-14Director changeChange in Director(s) of the company.
2026-08-14Shareholder meetingVoting results.
2026-08-14Press ReleaseA press release dated August 13, 2026, titled "Presentation on Un-audited Financial Results for the quarter ended 30th June, 2026.".
2026-08-13Shareholder meetingProceedings of Annual General Meeting held on August 13, 2026
2026-08-13Director changeChange in Director(s) of the company.
2026-08-13Press ReleaseA press release dated August 13, 2026, titled "Press Release regarding Financial Results".
2026-08-13Board meeting outcomePraj Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07Concall / analyst meetSchedule of meet
2026-08-03Press ReleaseA press release dated August 03, 2026, titled "Praj GenX, Subsidiary of Praj Industries, Expands with Global Supply Agreement for Hyperscale Data Cent...
2026-07-21Record DateRecord date for the purpose of Dividend is 06-Aug-2026.
2026-07-21Shareholder meetingNotice of Annual General Meeting to be held on August 13, 2026
2026-06-22General UpdatesGeneral Updates
2026-06-18General UpdatesGeneral Updates
2026-06-18Shareholder meetingVoting results.
2026-06-05Disclosure under SEBI TakeovDr. Pramod Chaudhari has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substant...
2026-06-03Disclosure under SEBI TakeovParimal Chaudhari has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-06-03Concall / analyst meetTranscript
2026-05-29Concall / analyst meetLink of Recording
2026-05-28Press ReleaseA press release dated May 28, 2026, titled "Presentation on Audited Financial Results for the quarter and year ended 31st March, 2026".
2026-05-28Press ReleaseA press release dated May 28, 2026, titled "Praj announces Quarter and year end results".
2026-05-28General UpdatesDetails of Key Managerial Personnel (KMPs) for Determining Materiality of Events/Information under Regulation 30(5) of Listing Regulations
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Praj Industries Ltd?

Praj Industries Ltd (PRAJIND) has a market capitalisation of Rs 5,657 Cr. at the 2026-10-01 close.

What is the P/E ratio of Praj Industries Ltd?

Praj Industries Ltd trades at a P/E of 112 on trailing twelve-month profit, at the 2026-10-01 close.

What were Praj Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Praj Industries Ltd sales was Rs 716 Cr (+11.9% vs Jun 2025) and net profit was Rs 12 Cr.

What is the 52-week high and low of Praj Industries Ltd?

The 52-week high is Rs 427.65 and the 52-week low is Rs 273.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03