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Praj Industries (PRAJIND) investor relations material
Praj Industries Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 and H1 FY26 results reflect strong execution despite headwinds in domestic ethanol and international markets due to U.S. tariffs, with Board and auditor review confirming no material misstatements.
Domestic ethanol market faces slowdown in greenfield projects; focus shifts to lifecycle services and brownfield enhancements.
International bioenergy pipeline remains healthy, with the first U.S. low-carbon ethanol project set for commissioning by fiscal year-end.
Positive policy developments in Latin America and Asia for blending mandates; CBG and SAF segments show early traction.
Strategic pivot in GenX engineering business towards conventional industries due to delays in energy transition projects.
Financial highlights
Q2 FY26 consolidated income from operations: INR 8,416.34 million, up from INR 8,161.92 million in Q2 FY25; standalone revenue: INR 6,858.60 million.
Q2 FY26 consolidated net profit: INR 192.83 million (vs. INR 538.31 million in Q2 FY25); standalone net profit: INR 416.63 million.
H1 FY26 consolidated income from operations: INR 14,818 million (down 2.2% YoY); net profit: INR 246 million (down 82.2% YoY).
Q2 FY26 consolidated EBITDA margin dropped 392 bps YoY to 6.64%; PAT margin fell 430 bps to 2.29%.
Order backlog as of September 30, 2025: INR 44,190 million; cash in hand: INR 4,370 million.
Outlook and guidance
Recovery expected to be slow; strategic diversification across industrial effluent, pharma, ultra-pure water, and brewery segments to support growth.
No formal revenue or EBITDA margin guidance provided as per company policy.
Full capacity utilization at GenX facility now expected by FY28, delayed by a year.
Industry awaits further policy directives after India achieves EBP 20; funding and site delays continue to impact project execution.
Positive policy developments expected in international markets, with new opportunities in SAF, CBG, and bioplastics.
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