Praj Industries has appointed Mr. Sachin Raole as its Joint Managing Director (JMD) and Chief Financial Officer (CFO) for a period of five years, effective from April 30, 2026, to April 29, 2031. This strategic decision aims to leverage his extensive experience in finance and accounts to drive the company's growth. The appointment is not liable to retire by rotation.

Mr. Sachin Raole is a Cost Accountant and Chartered Accountant with 31 years of experience in varied fields of finance and accounts. His expertise spans divestment, mergers & acquisitions, financial restructuring, treasury, accounts, and taxation. He brings a rich spectrum of financial experience across industries, including manufacturing, project, financial services, and pharmaceutical sectors. Additionally, he has experience in heading Human Resources, materials, IT, legal & secretarial functions.

The appointment follows the successful conclusion of a postal ballot process where shareholders approved the proposal with an overwhelming majority. The Board of Directors had sought member consent through a postal ballot under Section 110 of the Companies Act, 2013. The remote e-voting facility was provided by National Securities Depository Ltd. (NSDL).

Voting Results Summary

Mr. Nishad Umranikar, Partner at MSN Associates, served as the Scrutinizer for the process. The report confirms that the resolutions were passed with the requisite majority. The first resolution, regarding the appointment, received 99.89% votes in favour, while the second resolution, concerning the terms of remuneration, secured 98.80% approval. Promoters cast 60,300,000 votes entirely in favour of both resolutions.

Praj Industries has released the transcript of its analysts' call held on May 29, 2026, discussing the audited financial results for the quarter and year ended March 31, 2026. This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Management addressed the sharp decline in profitability for FY26, citing execution challenges and rising expenses, while outlining strategic shifts towards bioenergy expansion and new market segments like data centers.

Financial Performance Context

The company reported a consolidated net profit of ₹238 million for FY26, a decline of 89.1% from ₹2,189 million in the previous year. Operating income decreased by 1.9% to ₹31,679 million. Profit before tax dropped significantly to ₹499 million. The Board of Directors proposed a final dividend of ₹3.60 per equity share, subject to shareholder approval.

Consolidated Performance Overview

Profitability was impacted by rising expenses and execution challenges. For the full year FY26, Praj Industries recorded an operating EBITDA of ₹1,518 million, a 51.7% decrease from ₹3,145 million in FY25. The diluted earnings per share (EPS) stood at ₹1.30, down from ₹11.91 in the previous year.

Quarterly and Segmental Trends

In Q4-FY26, the company reported a consolidated net profit of ₹116.1 million, a 70.9% decline from ₹398.2 million in the same quarter last year. Operating income for the quarter stood at ₹8,445.6 million. Segment-wise, Bioenergy accounted for 67% of total revenue, followed by Engineering at 22% and Hi Purity at 11%.

Strategic Outlook and Order Book

Despite the revenue decline, the company maintained a robust order book. Order intake in Q4-FY26 was ₹6,580 million, with Bioenergy contributing 86% of new orders. The total order backlog at the end of Q4-FY26 was ₹43,050 million. Management highlighted that the domestic market contributed 74% of segmental revenues in Q4-FY26. The company is pursuing opportunities in data center cooling systems and expects the first order for bio-isobutanol technology in the current quarter of FY27. Cash in hand as of March 31, 2026, stood at ₹6.12 billion.