Praj Industries Limited (PRAJIND) — Financial Results

Praj Industries reported FY26 revenue of ₹31,679 crores and net profit of ₹238 crores, down 17.6% YoY, with Q4 revenue at ₹8,445 crores (-1.8% YoY) and PAT at ₹116 crores (-70.9% YoY). Export revenue contributed 36% of total. The company proposed a dividend of [amount context mismatch] per share (180% payout ratio) and highlighted bioenergy revenue at 67% of total, driven by ethanol, CBG, and engineering segments. Order backlog stood at ₹43,050 crores, with Q4 order intake at ₹6,580 crores. Cash reserves were ₹6.12 crores. Key growth areas include biofuels expansion under new policies, SAF mandates targeting 2027, and flex-fuel vehicle rollouts starting June. The Praj GenX facility is ready for FY27 operations, targeting data centers, LNG, and oil & gas sectors with break-even expected in 2-3 quarters. Fixed overheads remain at ₹10 crores/month, and contract models are shifting to include raw material price flexibility. R&D spend reached ₹45-46 crores in FY26, supporting innovation in co-products and technical upgrades.