Praj Industries Limited — PPTs, 12-02-2026: Investor Presentation

Praj Industries faced a challenging Q3 & 9M FY26.

**Business Performance:** Consolidated Q3 revenue saw a slight dip to ₹841.5 Cr (-1.3% YoY). Profitability was significantly impacted, with operating EBITDA down 34.9% to ₹47.3 Cr, resulting in a net loss of ₹12.4 Cr (-130.2% YoY). This was due to reduced export revenue impacting overall margins and an exceptional ₹34.4 Cr charge for higher employee liabilities. The Bioenergy segment (71% of revenue) saw slowing greenfield ethanol project enquiries, offset by increasing brownfield demand and strong services growth.

**Growth Drivers/Strategy:** The company is focusing on brownfield expansions and international markets for bioenergy. New growth avenues are emerging in GenX for Carbon Capture, Utilization, and Storage (CCUS) skids and data centers, along with ZLD solutions for battery, solar panel, and semiconductor industries.

**Recent Developments:** Praj secured a breakthrough order for CCUS skids from a global oil major, a significant integrated ZLD plant order from a leading metal company, and a contract for India's largest greenfield brewery. The company also won its first precision fermentation contract under the National BioE3 policy.

**Key Financial Metrics:** Q3 order intake remained robust at ₹914 Cr, bringing the total order book to ₹4,491 Cr.

**Management Commentary:** Management noted that EBP20 capacity requirements have largely been met, shifting focus to brownfield projects, services, and new opportunities in other business segments, including international expansion.