Praj Industries recently reported a significant inter-se share transfer within its promoter group. The transaction involved the transfer of shares from Moriyaset Trust to Dr. Pramod Chaudhari, a key member of the promoter group.

Details of the Share Transfer

The inter-se transfer was executed as part of the dissolution of Moriyaset Trust, which was previously part of the promoter group. Here are the key details of the transaction:

Impact on Shareholding

The share transfer has resulted in a redistribution of ownership within the promoter group:

It's important to note that despite this internal transfer, the aggregate holding of the Promoter and Promoter group remains unchanged.

Regulatory Compliance

The company has affirmed that this inter-se transfer falls within the exemption under Regulation 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Praj Industries has submitted the necessary disclosures to the stock exchanges as required under various SEBI regulations, including:

• Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Regulation 3 of SEBI (Prohibition of Insider Trading) Regulations, 2015
• Regulation 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

The company has emphasized that all required disclosures have been made within the specified timelines, demonstrating its commitment to regulatory compliance and transparency.

This inter-se transfer within the promoter group is a significant corporate action that investors and market participants should be aware of, as it reflects changes in the internal ownership structure of Praj Industries. However, it's crucial to understand that this transaction does not affect the overall promoter group holding or have any immediate impact on the company's operations or public shareholding.

Praj Industries , a leading bioenergy solutions provider, reported mixed financial results for the second quarter of fiscal year 2026, reflecting both growth and challenges in its various business segments.

Financial Performance

Praj Industries reported consolidated revenue of Rs. 8.42 billion in Q2 FY26, a slight increase from Rs. 8.16 billion in Q2 FY25. However, the company faced significant pressure on its profitability:

The substantial decline in profitability can be attributed to challenges in the domestic ethanol segment and international business headwinds.

Operational Highlights

• Order intake for Q2 FY26 stood at Rs. 8.1 billion, with 73% coming from the domestic market.
• The order backlog as of September 30, 2025, was Rs. 44.2 billion.
• Segment-wise order intake breakdown:
  • Bioenergy: 71%
  • Engineering: 16%
  • PHS (Praj HiPurity Systems): 13%

Domestic Ethanol Segment Challenges

Praj Industries faces challenges in the domestic ethanol segment due to India achieving its EBP20 (Ethanol Blending Program 20%) target. The current production capacity in the country now meets the EBP20 requirements, necessitating new avenues for further growth.

International Business Impact

The company's international business is impacted by U.S. tariff scenarios, which may affect future order inflows and project executions.

Strategic Initiatives

1. Pivoting GenX facility strategy towards oil and gas markets due to stalled energy transition projects.
2. Successfully commissioned the first alcohol-to-jet Sustainable Aviation Fuel (SAF) demo plant.
3. Executing the first low carbon ethanol project in the USA.

Liquidity Position

Praj Industries maintains a strong liquidity position with cash in hand of Rs. 4.37 billion as of September 30, 2025.

Future Outlook

Despite the current challenges, Praj Industries remains committed to its long-term growth vision. The company is focusing on:

1. Brownfield opportunities for installed base, including plant enhancements and efficiency improvements.
2. Expanding its presence in the Compressed Biogas (CBG) segment.
3. Developing new technologies such as bioplastics and sustainable aviation fuel.
4. Exploring opportunities in the U.S. market for low carbon ethanol projects.

As Praj Industries navigates through the evolving market dynamics, its diversified portfolio and focus on innovation are expected to play crucial roles in maintaining its market position and driving future growth.