Praj Industries (PRAJIND) Q4 24/25 earnings summary

Executive summary

• India achieved 20% ethanol blending ahead of schedule, with significant contributions from CBG, services, and international business segments.

• Strategic partnerships formed for end-to-end PLA (bioplastic) production solutions, including with UIF (ThyssenKrupp subsidiary) and Thyssenkrupp Uhde.

• Praj Genex Mangalore facility commenced operations in March 2024, with long-term agreements signed and scale-up costs impacting FY25 results; expected to contribute from FY26.

• Board appointed Dr. Pramod Chaudhari as Executive Chairman and Mr. Praj Chaudhary as Non-Executive Director.

• Audited standalone and consolidated FY25 results approved with an unmodified audit opinion.

Financial highlights

• FY25 consolidated revenue: INR 32,280.42 million (down from INR 34,662.78 million YoY); PAT: INR 2,189.33 million (vs. INR 2,833.91 million YoY); EBITDA: INR 3,248 million (margin 10.06%).

• Q4 FY25 consolidated revenue: INR 8,597 million (down 15.6% YoY); PAT: INR 398.17 million (down 56.7% YoY).

• Standalone FY25 revenue: INR 27,446.64 million; net profit: INR 2,644.28 million.

• Order intake for Q4: INR 10,320 million; order backlog as of March 2025: INR 42,930 million.

• Proposed final dividend of INR 6 per share (300% of face value) for FY25.

Outlook and guidance

• Anticipates strong international order pipeline, especially in Americas and South America for bioenergy and corn ethanol projects.

• CBG segment expected to grow, with large projects and JV developments underway.

• Genex facility operational, expected to contribute to revenue and profit from FY26.

• Services and internationalization expected to drive future order bookings.

• Margin improvement expected as higher-margin services and international business grow.