Prakash Industries Limited filed its annual report for the financial year ended March 31, 2026, disclosing a profit after tax of ₹333.14 crore. The company reported net sales of ₹3,478.66 crore, a decline from the previous year’s ₹4,014.35 crore, while EBITDA remained stable at ₹542.75 crore.

The Board of Directors recommended a final dividend of ₹1.80 per equity share of face value ₹10 each, subject to shareholder approval at the 45th Annual General Meeting (AGM) scheduled for September 30, 2026. This payout represents an 18% return on the face value.

Financial Performance

Despite a moderation in top-line revenue, the company maintained strong operational efficiency. The EBITDA margin expanded to 15.6% from 13.6% in the previous year. Depreciation increased to ₹167.93 crore from ₹142.70 crore, and financial expenses decreased slightly to ₹44.08 crore from ₹46.34 crore.

Operational Highlights

The company achieved its targeted extraction of approximately 1 million tonnes of coal from its Bhaskarpara Coal Mine during the year. Management plans to enhance the mining plan from 1 million tonnes per annum to 1.2 million tonnes per annum for FY27.

What the Numbers Show

The divergence between declining revenue and stable EBITDA highlights improved cost management. While sales fell by over ₹535 crore, EBITDA contracted by less than ₹2.25 crore, resulting in a significant margin expansion. This suggests that input cost savings or mix shifts offset the volume or price pressure on top-line growth.

Corporate Governance and Dividend

The AGM will be conducted via Video Conferencing or Other Audio Visual Means. Remote e-voting will be open from September 27 to September 29, 2026. Shareholders on record as of September 16, 2026, are eligible for the dividend. The proposed dividend will result in a cash outflow of approximately ₹32.23 crore.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE603A01013/ae2b5a0b-8a05-4409-a065-2ca2d5d694a7.pdf

Prakash Industries reported a net profit of ₹71 crore for the quarter ended June 30, 2026, marking a 22% decline from ₹91 crore in the corresponding period of the previous fiscal year. The bottom-line contraction was driven by the company’s transition to the new tax regime under the Income Tax Act, 2025, effective April 1, 2026, which eliminated previously available tax exemptions under Section 80-IA. Despite the profit drop, operational resilience was evident as EBITDA rose to ₹154 crore from ₹144 crore year-on-year, expanding the EBITDA margin to 14.9% from 13.9%. Net sales remained stable at ₹1,032 crore, compared to ₹1,037 crore in Q1FY25.

The Board of Directors approved the unaudited financial results on August 11, 2026, alongside the appointment of M/s. SGAJ & Associates, Chartered Accountants (FRN: 323891E), as the new statutory auditors. This appointment follows the completion of the second term of Chaturvedi & Co. LLP, which will conclude after the 45th Annual General Meeting scheduled for September 30, 2026. The new firm is appointed for five consecutive years, subject to shareholder approval, extending until the 50th AGM in FY32. Additionally, the Board designated ten officials as Senior Management Personnel (SMP) pursuant to Regulation 16(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

Revenue from operations stood at ₹1,03,200 lakhs, slightly lower than the ₹1,03,708 lakhs recorded in Q1FY25. Total expenses decreased to ₹94,594 lakhs from ₹95,150 lakhs in the prior year quarter, primarily aided by a reduction in cost of materials consumed to ₹59,904 lakhs from ₹67,249 lakhs. However, finance costs increased to ₹1,843 lakhs from ₹1,067 lakhs, and other expenses rose significantly to ₹21,224 lakhs from ₹15,413 lakhs. Profit before tax edged up 1.5% to ₹9,274 lakhs from ₹9,140 lakhs.

EBITDA figures derived from press release data provided by management.

Operational Updates

In its mining operations, Prakash Industries extracted approximately 3.3 lakh metric tonnes of coal from its Bhaskarpara Coal Mine during the quarter. The company targets an annual coal extraction of 1.2 million tonnes for the current financial year, aligning with environmental clearance granted by the Ministry of Environment, Forest and Climate Change on June 12, 2026. This clearance raised the production capacity from 1.0 MTPA to 1.2 MTPA.

Governance and Appointments

The Board appointed the following ten officials as Senior Management Personnel effective August 11, 2026:

• Ashok Kumar Chaturvedi – Executive Director (Corporate Affairs)
• Mahindra Kumar Pareek – Executive Director (Plant Head)
• Sanjay Joshi – Executive Director (Commercial)
• Deepak Mishra – Executive Director (Accounts & Taxation)
• Sudhakar Saraswat – President (Purchase)
• Ashok Kumar Sharma – President (Accounts)
• Deepak Dash – Sr. Vice President (Sirkaguttu Iron ore Mine)
• Arun Kumar Singh – Vice President (Bhaskarpara Coal Mine)
• Udai Singh – Assistant Vice President (HR & Admin)
• Rajendran Rathinam – General Manager (Windmill Division)

What the Numbers Show

The divergence between operating profitability and net profit highlights the significant impact of regulatory tax changes on the company’s bottom line. While EBITDA expanded by nearly 7% due to better cost management in material consumption, the net profit fell sharply because the company no longer benefits from Section 80-IA exemptions. This structural change in tax liability suggests that future earnings comparisons will need to account for the higher effective tax rate under the new regime, making EBITDA and operating margins more critical indicators of operational health than net profit alone.