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Praj Industries reported Q1 FY26 consolidated revenue of Rs. 640.2 Cr and PAT of Rs. 5.34 Cr. Order intake for the quarter was Rs. 795.0 Cr. Management noted domestic ethanol market caution due to the 20% EBP target achievement and pending mandates, plus global uncertainties delaying capex decisions. Key developments include IRA 45Z/45Q approval offering low-carbon ethanol opportunities, an order for a 30 MGPA SAF plant's detailed engineering, and new partnerships for SAF carbon assessment in India. The company emphasizes strong fundamentals and long-term growth commitment.