Want to see IN:PRAJIND full AI Analyst Report?
Top Page
PRAJ Industries Limited
(PRAJIND)
Select Model
Select Model
Rating:56Neutral
Price Target:
₹358.00
▲(10.66% Upside)
Action:Reiterated
Date:08/29/26
The score is mainly constrained by expensive valuation (very high P/E) and weakening recent fundamentals (two years of revenue decline and sharp 2026 margin/earnings compression), partially offset by a conservatively financed balance sheet and moderately positive technical momentum.
Positive Factors
Conservative Balance Sheet
A conservatively financed balance sheet gives Praj financial flexibility to execute projects, absorb industry cycles, and invest in technology without excessive reliance on external capital. Debt has increased since 2023 but remains manageable against its equity and asset base.
Negative Factors
Revenue Contraction
The reversal from multi-year revenue expansion to declines in 2025 and 2026 signals weaker order conversion or customer investment. Sustained contraction could reduce operating leverage, impair project visibility, and make future growth more dependent on a recovery in capex demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
A conservatively financed balance sheet gives Praj financial flexibility to execute projects, absorb industry cycles, and invest in technology without excessive reliance on external capital. Debt has increased since 2023 but remains manageable against its equity and asset base.
Read all positive factors
PRAJ Industries Limited (PRAJIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹59.21B
Dividend Yield1.12%
Average Volume (3M)95.26K
Price to Earnings (P/E)196.4
Beta (1Y)0.92
Revenue Growth2.35%
EPS Growth-78.50%
CountryIN
Employees1,629
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.64
Shares Outstanding183,813,100
10 Day Avg. Volume103,990
30 Day Avg. Volume95,259
Financial Highlights & Ratios
PEG Ratio-2.75
Price to Book (P/B)4.46
Price to Sales (P/S)1.84
P/FCF Ratio34.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹364.00Price Target Upside12.52% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)9.3
Revenue Forecast (FY)₹34.19B
PRAJ Industries Limited Business Overview & Revenue Model
Company Description
Praj Industries Limited, established in 1985 and headquartered in Pune, India, operates globally in the realm of bio-based technologies and engineering. The company delivers extensive solutions for the ethanol sector, encompassing multi-feedstock ...
How the Company Makes Money
Praj Industries makes money primarily by selling technology-led engineering solutions and executing industrial projects for customers, especially in ethanol and bioenergy. Its revenue model is typically a mix of: (1) EPC/turnkey project revenue—in...
PRAJ Industries Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
78
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 32.44B | 31.68B | 32.28B | 34.66B | 35.28B | 23.43B |
| Gross Profit | 11.87B | 10.97B | 6.15B | 14.68B | 13.27B | 3.67B |
| EBITDA | 1.66B | 1.76B | 4.04B | 4.31B | 3.53B | 2.29B |
| Net Income | 301.10M | 238.42M | 2.19B | 2.83B | 2.40B | 1.50B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 30.56B | 31.60B | 28.95B | 26.19B | 22.13B |
| Cash, Cash Equivalents and Short-Term Investments | 6.12B | 6.11B | 5.40B | 6.14B | 6.02B | 5.52B |
| Total Debt | 0.00 | 1.73B | 1.95B | 1.69B | 421.45M | 210.88M |
| Total Liabilities | -13.09B | 17.47B | 17.78B | 16.21B | 15.41B | 12.96B |
| Stockholders Equity | 13.09B | 13.09B | 13.82B | 12.74B | 10.78B | 9.16B |
Cash Flow | ||||||
| Free Cash Flow | -303.00M | 1.71B | -440.75M | 1.10B | 1.27B | 1.56B |
| Operating Cash Flow | -45.43M | 2.16B | 429.64M | 1.99B | 1.62B | 1.75B |
| Investing Cash Flow | 2.23B | -228.01M | 712.40M | -101.18M | -844.42M | -1.27B |
| Financing Cash Flow | -1.47B | -1.87B | -1.61B | -1.24B | -933.98M | -443.52M |
PRAJ Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹151.30B | 19.28 | ― | 1.67% | 16.30% | 41.66% | |
62 Neutral | ₹5.39T | 30.15 | ― | 0.97% | 9.78% | 13.15% | |
61 Neutral | ₹43.87B | 16.15 | ― | 1.07% | 18.73% | ― | |
61 Neutral | ₹76.62B | 19.57 | ― | 0.06% | 15.79% | 22.69% | |
56 Neutral | ₹59.21B | 196.43 | ― | 1.12% | 2.35% | -78.50% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | ₹17.01B | -1.35 | ― | 1.78% | -38.23% | -10.95% |
* General Sector Average
IN:PRAJIND
PRAJ Industries Limited
322.10
-64.92
-16.77%
IN:BGRENERGY
BGR Energy Systems Limited
235.75
-8.75
-3.58%
IN:ENGINERSIN
Engineers India Limited
269.20
61.05
29.33%
IN:GVPIL
GE Power India Ltd.
652.50
280.60
75.45%
IN:LT
Larsen & Toubro Limited
3,915.00
364.33
10.26%
IN:POWERMECH
Power Mech Projects Ltd.
2,423.45
-622.92
-20.45%
PRAJ Industries Limited Corporate Events
Praj Industries Publishes Q1 FY27 Earnings Call Transcript for Investor Review
Aug 18, 2026
Praj Industries Limited has released the transcript of its Q1 FY 2027 earnings conference call, held on August 14, 2026, covering unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The call, hosted with in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.