Praj Industries Ltd (PRAJIND) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 522205 | NSE: PRAJIND | Engineering - Industrial Equipments | Small Cap

Praj Industries Share Price

311.70 -2.95 -0.94%
as on 05-Dec'25 15:39

Praj Industries Ltd (PRAJIND) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 522205 | NSE: PRAJIND | Engineering - Industrial Equipments | Small Cap

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Praj Industries stock performance -

Key Ratios
mw4me loader
P/E Ratio (CD):
54.80
Market Cap:
5,783.7 Cr.
52-wk low:
310.5
52-wk high:
874.3

Is Praj Industries Ltd an attractive stock to invest in?


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10 Year X-Ray of Praj Industries: Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Praj Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 16.4%9.9%7.5%12%11.8%15.3%24.2%32.4%32.9%23.9%-
Value Creation
Index
0.2-0.3-0.5-0.1-0.20.10.81.41.40.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,0798129641,0761,1061,3132,2233,5823,3912,8643,195
Sales YoY Gr.--24.7%18.7%11.7%2.8%18.7%69.4%61.1%-5.3%-15.6%-
Adj EPS 4.62.323.13.54.27.512.514.49.85.7
YoY Gr.--49.6%-15.6%59.5%13.5%17.6%80.7%66.3%15.2%-32.1%-
BVPS (₹) 36.539.339.940.739.243.749.758.569.375.170.8
Adj Net
Profit
81.541.435.356.864.776.1138229264179106
Cash Flow from Ops. 51.120.21013314.722518816219943-
Debt/CF from Ops. 0.30.20.10000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.5%21%8.8%-15.6%
Adj EPS 8.8%22.5%9.1%-32.1%
BVPS8.4%13.9%14.8%8.4%
Share Price 13.8% 25.8% -6.3% -60.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
12.86.14.97.78.810162322.413.57.9
Op. Profit
Mgn %
10.68.55.47.76.27.86.18.210.710.97.1
Net Profit
Mgn %
7.65.13.75.35.95.86.26.47.86.33.3
Debt to
Equity
00000000000
Working Cap
Days
201284230202211204176148174228130
Cash Conv.
Cycle
7972554963584647433241

Recent Performance Summary

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Latest Financials - Praj Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 9.6 5.7
TTM Sales (₹ Cr.) 2,637 3,195
BVPS (₹.) 74.5 70.8
Reserves (₹ Cr.) 1,333 1,264
P/BV 4.22 4.44
PE 32.80 54.80
From the Market
52 Week Low / High (₹) 310.50 / 874.30
All Time Low / High (₹) 0.20 / 874.30
Market Cap (₹ Cr.) 5,784
Equity (₹ Cr.) 36.8
Face Value (₹) 2
Industry PE 50.6

Management X-Ray of Praj Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Praj Industries - Consolidated Basis

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Event Update

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Analyst's Notes

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No data found!

Key Ratios of Praj Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,0798129641,0761,1061,3132,2233,5823,3912,864
Operating Expenses 9657439169971,0371,2102,0873,2883,0272,551
Manufacturing Costs149127139167187200332564553614
Material Costs5223645165455567441,3432,2551,8871,291
Employee Cost 154148149161164172218258319349
Other Costs 13910411112413094194212269297
Operating Profit 11469487969103136293364313
Operating Profit Margin (%) 10.6%8.5%5.0%7.4%6.2%7.8%6.1%8.2%10.7%10.9%
Other Income 18223032393694606762
Interest 211133351019
Depreciation 25222423222223304486
Exceptional Items 00000000028
Profit Before Tax 10568538883113205319377299
Tax 23231420133255799480
Profit After Tax 824539687081150240283219
PAT Margin (%) 7.6%5.5%4.1%6.3%6.4%6.2%6.8%6.7%8.4%7.6%
Adjusted EPS (₹)4.62.52.23.73.94.48.213.115.411.9
Dividend Payout Ratio (%)35%65%74%57%70%49%51%34%39%50%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 6497067227427178009131,0751,2741,381
Share Capital 36363637373737373737
Reserves 6146706867066817638761,0391,2381,344
Minority Interest0011110000
Debt16460000000
Long Term Debt0000000000
Short Term Debt16460000000
Trade Payables207213176235187342425505497482
Others Liabilities 2762612242602384418781,0271,1151,271
Total Liabilities 1,1491,1851,1291,2381,1441,5832,2162,6082,8863,134

Fixed Assets

Gross Block4434495005145535605856438621,022
Accumulated Depreciation171193216238273290313340388455
Net Fixed Assets 272256283276280270272303474567
CWIP 1314221274318
Investments 132134201211164335463543497428
Inventories10110581126111129345334221253
Trade Receivables367295263305330453512795643556
Cash Equivalents 8274808849132155145213181
Others Assets 1952902172292072634664817951,131
Total Assets 1,1491,1851,1291,2381,1441,5832,2162,6082,8863,134

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 5120101331522518816219943
PBT 10568538883113205319377299
Adjustment 2918282126116282347
Changes in Working Capital -47-4533-55-7611622-122-97-200
Tax Paid -36-21-13-21-18-15-45-63-104-103
Cash Flow From Investing Activity -1-8-71-662-164-140-84-1071
Capex -12-37-16-14-7-9-18-35-88-43
Net Investments 3721-61358-163-130-5762110
Others -2686511798165
Cash Flow From Financing Activity -68-4-25-43-98-6-44-93-124-161
Net Proceeds from Shares 4999003010
Net Proceeds from Borrowing -0-0-0-0-000000
Interest Paid -1-1-0-0-2-2-2-4-9-18
Dividend Paid -69-1-35-46-95-0-40-77-83-110
Others -1-122-6-1-4-5-12-33-32
Net Cash Flow -1886-16-21544-1665-47

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)12.976.585.539.319.6510.6817.5424.1224.1216.49
ROCE (%)16.399.947.4912.0111.7815.2524.1532.4432.9223.9
Asset Turnover Ratio0.980.730.840.910.930.961.171.491.230.95
PAT to CFO Conversion(x)0.620.442.590.490.212.781.250.680.70.2
Working Capital Days
Receivable Days1061421059610510979677776
Inventory Days53443535393339353030
Payable Days1342111381381381301047597138

Praj Industries Ltd Stock News

Praj Industries Ltd FAQs

The current trading price of Praj Industries on 05-Dec-2025 15:39 is ₹311.7.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2025 the market cap of Praj Industries stood at ₹5,783.7.
The latest P/E ratio of Praj Industries as of 04-Dec-2025 is 32.80.
The latest P/B ratio of Praj Industries as of 04-Dec-2025 is 4.22.
The 52-week high of Praj Industries is ₹874.3 and the 52-week low is ₹310.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Praj Industries is ₹2,637 ( Cr.) .

About Praj Industries Ltd

Praj Industries was set up in 1984 with a vision to deliver cutting edge technologies to distillery industries. It is leading biofuel Technology Company providing number of processes and systems for ethanol and biodiesel productions. It is a globally leading Company with over 600 references in more than 60 countries across 5 continents, Praj has acquired an international reputefor responsible and reliable solutions.

Business

Alcohol Plants- For alcohol productions its has developed HIFERM fermentation systems that is developed to handle variety of raw materials. It also develops a plant that handles raw materials to developing wastewater treatment systems.

Fuel Ethanol Plants- It develops Ecomol Molecular Sieve Plants that provide consistent quality products, minimum consumption of energy, maximum alcohol recovery and automation and control system.

Water & Wastewater Treatment Plants - Praj offers integrated water & wastewater treatment systems and has already made a beginning in the industrial sector with a wide range of solutions. This vertical addresses industrial applications for high quality water, complex effluent treatment including recycle and reuse and zero liquid discharge plants.

Bio Diesel plants- It develops complexes that can produce biodiesel and bioethanol.

Brewery Plants- It does plant engineering for brewery industries.

Recognition

2013

  • Mr. Pramod Chaudhari received the prestigious BioSpectrum Leadership Award 2013 for his contribution to the biofuels industry through technological innovations.
  • Pramod Chaudhari honored with the Lifetime Achievement Award 2013 by the Sugar Technologists Association of India
  • In March 2013, Praj received the ABLE (Association of Biotechnology Led Enterprises) Tenth Anniversary Award under the ‘BioIndustrial’ category for its efforts and contribution towards Industrial Biotechnology
  • Pramod Chaudhari receives Maxell Lifetime Achievement Award 2013

2012

  • In Decebmer 2012, Praj Matrix bagged the 'Green Innovation Award' for Outstanding Research in the field of Green Chemistry & Engineering
  • In October 2012, Praj receives the MCCIA- B. G. Deshmukh 'Innovation in Corporate Social Responsibility Award 2012'
  • In May 2012,  Praj received the EPCES Export Award  or outstanding export performance during the year 2009-10 from the Category-II Product Specific SEZ - MSME.
  • Praj/DBS Team wins the Safety Performance Award for the Month of April 2012 at Illovo project site.
  • In March 2012,  Kandla SEZ Unit receives Highest Export award  for the year 2012-2011 under the category of Engineering and Metallurgical Products.
  • Praj was conferred with Bio-Excellence Award 2012 for the 2nd time in February 2012 for outstanding contribution to BioIndustrial Sector.

2011

  • In March 2011, Pramod Chaudhari bestowed with Pune's Pride award for his excellence in corporate world

2010

  • In September 2010, Praj was honored with EEPC 'Gold Trophy' Third time is a row for exceptional performance in exports for the year 2008-2009

Praj Industries is among 14 Indian Companies which are members of 125 GGC forum.

It has been acknowledged by  Business Standard and by Business World – Boston Consulting Group as best value creator.

Milestones

2013

  • Mr. Pramod Chaudhari received the prestigious BioSpectrum Leadership Award 2013 for his contribution to the biofuels industry through technological innovations.
  • Pramod Chaudhari honored with the Lifetime Achievement Award 2013 by the Sugar Technologists Association of India
  • In March 2013, Praj received the ABLE (Association of Biotechnology Led Enterprises) Tenth Anniversary Award under the ‘BioIndustrial’ category for its efforts and contribution towards Industrial Biotechnology
  • Pramod Chaudhari receives Maxell Lifetime Achievement Award 2013


2012

  • In Decebmer 2012, Praj Matrix bagged the 'Green Innovation Award' for Outstanding Research in the field of Green Chemistry & Engineering
  • In October 2012, Praj receives the MCCIA- B. G. Deshmukh 'Innovation in Corporate Social Responsibility Award 2012'
  • In May 2012,  Praj received the EPCES Export Award  or outstanding
  • export performance during the year 2009-10 from the Category-II Product Specific SEZ - MSME.
  • Praj/DBS Team wins the Safety Performance Award for the Month of April 2012 at Illovo project site.
  • In March 2012,  Kandla SEZ Unit receives Highest Export award  for the year 2012-2011 under the category of Engineering and Metallurgical Products.
  • Praj was conferred with Bio-Excellence Award 2012 for the 2nd time in February 2012 for outstanding contribution to BioIndustrial Sector.

2011 

  • Praj manufacturing gets ISO 14001 certification 
  • Praj gets OHSAS 18001 certification 

2010 

  • Praj ventures into Water & Water Treatment Solutions 
  • Commissioned bio-ethanol plant for Biowanze, Belgium 
  • Praj installs ‘Grain to Ethanol’ Pilot Plant at Praj Matrix-The R&D Center 

2009 

  • Praj inaugurated the Cellulosic Ethanol Pilot Plant at Praj Matrix at Urawade. The pilot plant is capable of producing ethanol from corn cob and sugarcane baggase under varying operating conditions. It is a break-through in cellulosic biomass to ethanol technology at pilot scale 
  • Praj entered into Customized Engineering & Manufacturing Sector 
  • Praj receives ISO 9001-2008 status 
  • Praj entered into Energy Crop Agri-Solution Business 

2008 

  • Praj sets up JV in Brazil with Jaragua Equipamentos called Praj Jaragua Bioenergia SA. 
  • Praj technology selected for the largest European Plant for Vivergo Biofuels 
  • Praj inaugurated the state-of-the-art R&D facility, Praj Matrix the innovation center focusing on second/third generation biofuels. 

2007 

  • Praj and Aker Solutions JV company established (BioCnergy Europa B.B.) in The Netherlands. 
  • Praj received orders to install Cassava based plants in Thailand. 
  • Aker Solutions and Praj win contract for world-scale bioethanol project in the UK. 
  • 5th Manufacturing facility in Kandla (SEZ), India commissioned for bioethanol and biodiesel manufacturing units. 
  • Praj received orders to install Cassava based plants in Thailand. 
  • UKs first plant based on Praj process plant inaugurated. 

2006 

  • All five large sized ethanol plants in Colombia on stream for commercial production from March 2006 onwards. 
  • Breakthrough in European Market - received contract from British Sugars. 
  • Breakthrough in US market. Receives two major contracts to install large size ethanol plants. 
  • Praj was Platinum Sponsor at FO Licht World Ethanol Event, Amsterdam. 
  • Praj expands R&D Center. 
  • Venture Capitalist Vinod Khosla and Marubeni Corporation invests in Praj. 
  • Praj inks alliance with Meura for High Performance Brewery Mash Filters Praj expands Brewery Business. 
  • Praj Bio-ethanol Technology for Belgium. 
  • Skid Mounted Ethanol Plant designed, manufactured and shipped to CSR Australia. 
  • Breakthrough in the USA market. 
  • Praj Industries and Aker Solutions forge a bio-ethanol alliance in Europe. 

2005 

  • Praj commissioned two large size ethanol plants in Colombia. 
  • DSIR honors Praj for exports in in-house R&D based technology. 
  • Exclusive Export Oriented Unit (EOU) established. 
  • Brewery Manufacturing facility near Pune (Sanaswadi, Unit-2) acquired. 
  • Praj acquires worldwide rights for Molecular Sieve based dehydration technology from Delta-T. 
  • ICRA certified Praj as A1+ category company for short term finance. 
  • ESOP (Employees Stock Option Plan) declared. 
  • Praj was the prime (Platinum) sponsor for World Ethanol Event (2005). 
  • Praj sponsors major ethanol events worldwide. 

2002/04 

  • Praj Enters in to Australian Market with First technology and engineering order for green-field Fuel ethanol production plant. 
  • Launch of PRAJ-Matrix - The Innovation Center for advanced applied research in the field of ethanol and brewing process. 
  • Praj opens three new offices overseas - Johannesburg, Bangkok and Sharjah. 
  • Praj commissions South East Asia's first Secondary Juice to Ethanol Plant at Vaidyanath SSK, Pangri, Maharashtra. 
  • Praj is Gold Sponsor to World Ethanol Conference an Annual worldwide yearly conference in London.(2003). 
  • Praj participates in the National Planning Commissions Policy on Biofuels. 
  • Praj develops Sweet Sorghum to Ethanol process. 
  • Praj helps with 1200-1400 acres of pilot cultivation of Sweet Sorghum in India. Trials completed in Australia also. 
  • Praj attains leadership in fuel ethanol plants in India with over 70% market share. 
  • Praj crosses the 1 billion turnover mark. 
  • Received 6 major orders for fuel ethanol in South/Central America. Establishes lead over Brazilian & European Technology Companies in South America. 
  • Praj received ICORE award for the leadership in Biofuels. 
  • Praj's Chairman received Distinguished Alumnus Award from IIT, Mumbai. 
  • Praj commissions a unique wastewater treatment plant in Colombia. This technology was developed in-house. 
  • Praj announces 2004-05 as The Year of Innovation. 
  • Praj is Prime (Platinum) Sponsor to World Ethanol Conference an Annual worldwide yearly conference in London.(2004) 

2000/02 

  • Praj ties up with Delta T Corp, USA for Vapor Phase Molecular Sieve Dehydration plants, for production of Fuel grade ethanol. 
  • The first MSDH plant in India went on stream in May 02. 
  • Praj enters into East European Market with engineering order for a grain-based plant. 
  • Praj launches Multi-feed & Multi-product Ethanol technology for round the year distillery operation. Application engineering completed for Cane juice and Sugar Beet to ethanol process technology. 
  • Praj bags an order for Multi-feed & multi-product plant in Maharashtra, for Vaidyanath SSK. 

1999/00 

  • Praj ventured into South America in 2000. An office was set up in Bogota, Colombia to reach out to South, Central America and Caribbean and partner customers in the region. 
  • In the Year 2000, Praj manufacturing facility was awarded the ISO 9000:2008 and the prestigious ASME U & H stamps for pressure vessels and heating boilers. 
  • Fuel Ethanol, the new driving force in the ethanol industry, has been gaining in its share of motor fuel not only in the Americas where over 60% of fuel ethanol is produced, but also in Australia, Thailand and in India. 
  • Energy saving multi-pressure distillation systems, introduced by Praj, become an Industry Standard. 
  • Praj bags technology & engineering orders in South America and the Caribbeans. 

1996/99 

  • Praj restructures with an aim to streamline the Company's operations and achieve greater focus in its strong technologies. 
  • Praj increased its focus on its primary lines like ethanol technology and equipment, brewery engineering, fruit processing industry. 
  • Praj commissions several grain based ethanol plants in India. 

1993/95 

  • Going Public and Listing on the Stock Exchanges in India, which was oversubscribed 7 times.
  • Praj also decided to spread its presence in the international market. 
  • The first international order from Indonesia for multi-pressure distillation was contracted. It also incorporated the patented self-cleaning Flubex evaporator for concentration of distillery spent-wash. 
  • Order from the Philippines amidst global competition was contracted for multi route plants. Praj continues to score in the South East Asian Markets. 

1991/93 

  • On the technical front, Praj undertook in-house development of Non-molasses (Starch based) technology and engineering for grains and tubers in 1993. Whilst in India most alcohol is produced from cane molasses route, Praj realized the importance of grains and tubers in the production of alcohol, a prevalent practice in the west. 
  • Molasses was decontrolled and the entire industry went through a change phase. Grain based distilleries were being looked upon favorably. A dual route system was developed for cane molasses and grains. 
  • At the same time, Praj also drew up a plan to diversify into synergistic fields like Brewery Engineering and plate heat exchangers which would make Praj a full Service Company for technology, process equipment and systems for industries it directly served. 

1989/91 

  • To further its commitment to the Ethanol industry Praj set up an R & D Center dedicated to ethanol production. Recognized by Govt. of India, DSIR, this center is equipped with analytical and instrumental laboratory and fermentation, distillation and effluent treatment pilot plants. 

1987/88 

  • Praj, one of the first Companies to receive Venture Capital from ICICI (now ICICI Ventures).1986 
  • Praj collaborates with Vogelbusch, Austria for Continuous Fermentation Process in India. 
  • Praj develops SPRANNIHILATOR, a zero-pollution system for treatment of distillery effluents. 
  • The system was subsequently given an award for innovative concept. 

1984/85 

  • Inception of PRAJ. Beginning of PRAJ's journey into Agro-based process industry. 
  • Ist Opportunity comes from Siddheswar Sahakari Sakhar Karkhana Ltd. (Solapur).  
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