Praj Industries Limited reported a sharp decline in its financial performance for the fiscal year ended March 31, 2026 (FY26), with Profit After Tax (PAT) falling to INR 238 Mn. This represents a significant decrease from the INR 2,189 Mn recorded in the previous fiscal year (FY25). The company’s operational income for FY26 stood at INR 31,679 Mn, down from INR 32,280 Mn in FY25, reflecting a contraction in its top-line growth.

Financial Performance

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped to INR 1,518 Mn in FY26 from INR 3,145 Mn in the prior year. Consequently, the EBITDA margin contracted to 4.79% compared to 9.74% in FY25. Profit before exceptional items and tax also decreased to INR 763 Mn from INR 2,704 Mn in FY25. The diluted earnings per share (EPS) for FY26 was reported at INR 1.30, a steep fall from INR 11.91 in the previous year.

Segmental and Operational Metrics

Bio Energy remained a key revenue driver, though the segment faced headwinds with revenues recorded at INR 21,423 Mn for FY26. The company’s order intake for the fourth quarter of FY26 was INR 6,580 Mn. The total order backlog at the end of Q4-FY26 stood at INR 43,050 Mn. Geographically, domestic orders constituted 79% of the Q4-FY26 intake, while exports accounted for 21%. Segmentally, Bioenergy led the order intake at 86%, followed by HiPurity at 12% and Engineering at 2%.

Balance Sheet and Capital Allocation

The total assets of the company as of March 31, 2026, amounted to INR 30,559 Mn. The net debt to equity ratio was reported at 0.16. The Return on Capital Employed (ROCE) for FY26 was 7%, while the Return on Equity (ROE) stood at 2%. The company’s cash and cash equivalents were INR 1,424 Mn, with trade receivables at INR 5,587 Mn.

Historical Financials

The following table summarizes the consolidated financial performance over the past five years:

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.