Praj Industries Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: March 13, 2026, 8:00 am

Market Cap	5,780 Cr.
Current Price	314
Intrinsic Value	₹515.75
High / Low	592/273
Stock P/E	78.3
Book Value	70.8
Dividend Yield	1.91 %
ROCE	17.9 %
ROE	14.1 %
Face Value	2.00
PEG Ratio	-4.11

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Praj Industries Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Praj Industries Ltd	5,780 Cr.	314	592/273	78.3	70.8	1.91 %	17.9 %	14.1 %	2.00
GMM Pfaudler Ltd	4,005 Cr.	891	1,418/830	35.8	262	0.22 %	13.1 %	6.64 %	2.00
Texmaco Rail & Engineering Ltd	3,897 Cr.	95.8	189/93.8	23.4	69.4	0.78 %	11.2 %	6.39 %	1.00
The Anup Engineering Ltd	3,118 Cr.	1,557	3,633/1,410	26.8	318	1.09 %	%	18.9 %	10.0
Elecon Engineering Company Ltd	8,774 Cr.	391	717/348	21.2	100	0.51 %	28.5 %	23.0 %	1.00
Industry Average	9,114.93 Cr	1,286.74		38.29	295.05	0.38%	15.76%	13.09%	8.88

All Competitor Stocks of Praj Industries Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	911	1,004	737	882	829	1,019	699	816	853	860	640	842	841
Expenses	825	896	661	798	731	888	607	730	780	786	609	786	794
Operating Profit	86	108	75	84	98	131	92	86	73	74	31	56	47
OPM %	9%	11%	10%	10%	12%	13%	13%	11%	9%	9%	5%	7%	6%
Other Income	8	16	12	11	9	11	40	14	14	12	9	5	-29
Interest	1	2	1	1	4	4	5	5	4	5	5	5	5
Depreciation	7	9	9	9	11	15	20	21	23	22	25	27	27
Profit before tax	86	113	78	85	92	123	107	74	59	58	10	30	-13
Tax %	27%	22%	24%	26%	23%	25%	21%	28%	30%	32%	44%	35%	-4%
Net Profit	62	88	59	62	70	92	84	54	41	40	5	19	-12
EPS in Rs	3.39	4.80	3.19	3.39	3.83	5.00	4.58	2.93	2.24	2.17	0.29	1.05	-0.67

Last Updated: March 3, 2026, 3:20 pm

Below is a detailed analysis of the quarterly data for Praj Industries Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

For Sales, as of Dec 2025, the value is 841.00 Cr.. The value appears to be declining and may need further review. It has decreased from 842.00 Cr. (Sep 2025) to 841.00 Cr., marking a decrease of 1.00 Cr..
For Expenses, as of Dec 2025, the value is 794.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 786.00 Cr. (Sep 2025) to 794.00 Cr., marking an increase of 8.00 Cr..
For Operating Profit, as of Dec 2025, the value is 47.00 Cr.. The value appears to be declining and may need further review. It has decreased from 56.00 Cr. (Sep 2025) to 47.00 Cr., marking a decrease of 9.00 Cr..
For OPM %, as of Dec 2025, the value is 6.00%. The value appears to be declining and may need further review. It has decreased from 7.00% (Sep 2025) to 6.00%, marking a decrease of 1.00%.
For Other Income, as of Dec 2025, the value is -29.00 Cr.. The value appears to be declining and may need further review. It has decreased from 5.00 Cr. (Sep 2025) to -29.00 Cr., marking a decrease of 34.00 Cr..
For Interest, as of Dec 2025, the value is 5.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 5.00 Cr..
For Depreciation, as of Dec 2025, the value is 27.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 27.00 Cr..
For Profit before tax, as of Dec 2025, the value is -13.00 Cr.. The value appears to be declining and may need further review. It has decreased from 30.00 Cr. (Sep 2025) to -13.00 Cr., marking a decrease of 43.00 Cr..
For Tax %, as of Dec 2025, the value is -4.00%. The value appears to be improving (decreasing) as expected. It has decreased from 35.00% (Sep 2025) to -4.00%, marking a decrease of 39.00%.
For Net Profit, as of Dec 2025, the value is -12.00 Cr.. The value appears to be declining and may need further review. It has decreased from 19.00 Cr. (Sep 2025) to -12.00 Cr., marking a decrease of 31.00 Cr..
For EPS in Rs, as of Dec 2025, the value is -0.67. The value appears to be declining and may need further review. It has decreased from 1.05 (Sep 2025) to -0.67, marking a decrease of 1.72.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:16 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	986	1,012	1,024	915	917	1,141	1,102	1,305	2,333	3,528	3,466	3,228	3,183
Expenses	907	919	910	846	865	1,062	1,024	1,192	2,140	3,220	3,094	2,913	2,974
Operating Profit	79	93	114	69	52	79	78	112	194	308	372	315	209
OPM %	8%	9%	11%	8%	6%	7%	7%	9%	8%	9%	11%	10%	7%
Other Income	23	34	18	22	27	32	30	26	36	45	59	89	-3
Interest	1	2	2	1	1	1	3	3	3	5	10	19	20
Depreciation	24	38	25	22	24	23	22	22	23	30	44	86	101
Profit before tax	77	86	105	68	53	88	83	113	205	319	377	299	85
Tax %	27%	9%	22%	34%	26%	22%	15%	28%	27%	25%	25%	27%
Net Profit	57	78	82	45	39	68	70	81	150	240	283	219	52
EPS in Rs	3.08	4.30	4.63	2.49	2.18	3.73	3.85	4.42	8.18	13.05	15.42	11.91	2.84
Dividend Payout %	72%	38%	35%	65%	74%	57%	70%	49%	51%	34%	39%	50%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	36.84%	5.13%	-45.12%	-13.33%	74.36%	2.94%	15.71%	85.19%	60.00%	17.92%	-22.61%
Change in YoY Net Profit Growth (%)	0.00%	-31.71%	-50.25%	31.79%	87.69%	-71.42%	12.77%	69.47%	-25.19%	-42.08%	-40.53%

Praj Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	24%
3 Years:	11%
TTM:	-8%

Compounded Profit Growth
10 Years:	11%
5 Years:	23%
3 Years:	9%
TTM:	-51%

Stock Price CAGR
10 Years:	17%
5 Years:	42%
3 Years:	-2%
1 Year:	-47%

Return on Equity
10 Years:	14%
5 Years:	18%
3 Years:	20%
Last Year:	14%

Last Updated: September 5, 2025, 12:35 pm

Balance Sheet

Last Updated: December 4, 2025, 1:49 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	35	35	36	36	36	37	37	37	37	37	37	37	37
Reserves	547	587	620	674	690	708	683	765	879	1,041	1,238	1,345	1,264
Borrowings	21	17	16	4	6	0	0	18	21	42	169	195	210
Other Liabilities	670	504	485	473	401	502	442	774	1,276	1,499	1,450	1,581	1,722
Total Liabilities	1,274	1,144	1,157	1,187	1,133	1,247	1,162	1,594	2,213	2,619	2,894	3,157	3,233
Fixed Assets	323	302	272	270	297	290	294	284	286	317	474	567	585
CWIP	2	1	1	31	4	2	2	1	2	7	43	18	13
Investments	91	158	145	134	201	211	164	335	463	543	497	428	189
Other Assets	859	682	738	752	631	744	702	975	1,461	1,752	1,880	2,144	2,446
Total Assets	1,274	1,144	1,157	1,187	1,133	1,247	1,162	1,594	2,213	2,619	2,894	3,157	3,233

Below is a detailed analysis of the balance sheet data for Praj Industries Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 37.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 37.00 Cr..
For Reserves, as of Sep 2025, the value is 1,264.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,345.00 Cr. (Mar 2025) to 1,264.00 Cr., marking a decrease of 81.00 Cr..
For Borrowings, as of Sep 2025, the value is 210.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 195.00 Cr. (Mar 2025) to 210.00 Cr., marking an increase of 15.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 1,722.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,581.00 Cr. (Mar 2025) to 1,722.00 Cr., marking an increase of 141.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 3,233.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3,157.00 Cr. (Mar 2025) to 3,233.00 Cr., marking an increase of 76.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 585.00 Cr.. The value appears strong and on an upward trend. It has increased from 567.00 Cr. (Mar 2025) to 585.00 Cr., marking an increase of 18.00 Cr..
For CWIP, as of Sep 2025, the value is 13.00 Cr.. The value appears to be declining and may need further review. It has decreased from 18.00 Cr. (Mar 2025) to 13.00 Cr., marking a decrease of 5.00 Cr..
For Investments, as of Sep 2025, the value is 189.00 Cr.. The value appears to be declining and may need further review. It has decreased from 428.00 Cr. (Mar 2025) to 189.00 Cr., marking a decrease of 239.00 Cr..
For Other Assets, as of Sep 2025, the value is 2,446.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,144.00 Cr. (Mar 2025) to 2,446.00 Cr., marking an increase of 302.00 Cr..
For Total Assets, as of Sep 2025, the value is 3,233.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,157.00 Cr. (Mar 2025) to 3,233.00 Cr., marking an increase of 76.00 Cr..

Notably, the Reserves (1,264.00 Cr.) exceed the Borrowings (210.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-3	150	51	20	101	33	15	225	175	162	199	43
Cash from Investing Activity +	19	-77	2	-8	-69	-3	66	-164	-124	-78	-6	75
Cash from Financing Activity +	-40	-40	-68	-4	-25	-43	-98	-6	-44	-93	-124	-161
Net Cash Flow	-24	33	-15	9	8	-14	-18	55	6	-9	70	-42

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	58.00	76.00	98.00	65.00	46.00	79.00	78.00	94.00	173.00	266.00	203.00	120.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	119	101	131	118	105	98	109	127	80	82	68	63
Inventory Days	170	164	79	82	63	76	73	64	86	55	41	56
Days Payable	153	128	162	167	137	140	124	169	106	84	92	106
Cash Conversion Cycle	136	137	48	33	30	33	59	21	60	54	16	12
Working Capital Days	47	26	46	66	51	39	65	12	4	8	16	32
ROCE %	11%	12%	16%	10%	6%	11%	11%	15%	23%	31%	29%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	32.82%	32.82%	32.82%	32.81%	32.81%	32.81%	32.81%	32.81%	32.81%	32.81%	32.81%	32.81%
FIIs	17.83%	18.30%	17.93%	17.37%	18.87%	18.55%	19.03%	18.63%	17.16%	16.86%	17.53%	17.32%
DIIs	7.83%	8.40%	10.20%	13.09%	13.69%	16.65%	17.34%	18.19%	19.51%	17.43%	14.83%	13.64%
Public	41.50%	40.48%	39.04%	36.74%	34.64%	31.99%	30.82%	30.38%	30.52%	32.89%	34.82%	36.23%
No. of Shareholders	2,83,459	2,77,224	2,96,931	3,14,475	3,24,849	3,27,689	3,49,924	3,53,099	3,51,432	3,86,468	4,03,110	4,06,848

Shareholding Pattern Chart

No. of Shareholders

Praj Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Small Cap Fund	5,051,724	0.22	146.58	5,381,627	2025-12-08 07:42:13	-6.13%
HDFC Multi Cap Fund	1,781,159	0.27	51.68	1,601,771	2026-01-25 00:37:41	11.2%
Nippon India Power & Infra Fund	1,500,000	0.64	43.52	1,500,000	2025-04-22 05:23:31	0%
Sundaram Flexicap Fund	397,000	0.56	11.52	N/A	N/A	N/A
Sundaram Value Fund	294,000	0.61	8.53	N/A	N/A	N/A
Sundaram ELSS Tax Saver Fund	261,000	0.56	7.57	N/A	N/A	N/A
Sundaram Infrastructure Advantage Fund	65,000	0.21	1.89	N/A	N/A	N/A
Bandhan Balanced Advantage Fund	39,825	0.05	1.16	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	11.91	15.42	13.05	8.18	4.43
Diluted EPS (Rs.)	11.91	15.42	13.05	8.18	4.43
Cash EPS (Rs.)	16.61	17.81	14.70	9.41	5.63
Book Value[Excl.RevalReserv]/Share (Rs.)	75.17	69.34	58.68	49.89	43.80
Book Value[Incl.RevalReserv]/Share (Rs.)	75.17	69.34	58.68	49.89	43.80
Revenue From Operations / Share (Rs.)	175.61	188.57	192.04	127.04	71.20
PBDIT / Share (Rs.)	20.44	23.46	19.25	12.52	7.54
PBIT / Share (Rs.)	15.73	21.07	17.60	11.29	6.33
PBT / Share (Rs.)	16.24	20.53	17.35	11.15	6.17
Net Profit / Share (Rs.)	11.91	15.42	13.05	8.18	4.42
NP After MI And SOA / Share (Rs.)	11.91	15.42	13.05	8.18	4.42
PBDIT Margin (%)	11.63	12.44	10.02	9.85	10.58
PBIT Margin (%)	8.95	11.17	9.16	8.88	8.88
PBT Margin (%)	9.24	10.88	9.03	8.78	8.66
Net Profit Margin (%)	6.78	8.17	6.79	6.43	6.21
NP After MI And SOA Margin (%)	6.78	8.17	6.79	6.43	6.21
Return on Networth / Equity (%)	15.84	22.23	22.24	16.40	10.10
Return on Capital Employeed (%)	18.59	26.96	28.91	21.87	13.97
Return On Assets (%)	6.92	9.78	9.15	6.78	5.08
Total Debt / Equity (X)	0.00	0.00	0.00	0.00	0.42
Asset Turnover Ratio (%)	1.07	1.26	1.36	1.12	0.82
Current Ratio (X)	1.51	1.52	1.45	1.46	1.62
Quick Ratio (X)	1.36	1.37	1.23	1.18	1.45
Inventory Turnover Ratio (X)	13.62	6.90	6.51	6.26	6.23
Dividend Payout Ratio (NP) (%)	50.38	29.21	32.12	26.39	0.00
Dividend Payout Ratio (CP) (%)	36.11	25.28	28.52	22.94	0.00
Earning Retention Ratio (%)	49.62	70.79	67.88	73.61	0.00
Cash Earning Retention Ratio (%)	63.89	74.72	71.48	77.06	0.00
Interest Coverage Ratio (X)	19.95	44.06	76.39	91.81	48.33
Interest Coverage Ratio (Post Tax) (X)	11.13	29.95	52.81	60.98	29.37
Enterprise Value (Cr.)	10012.41	9579.22	6119.01	7160.46	3776.42
EV / Net Operating Revenue (X)	3.10	2.76	1.73	3.07	2.89
EV / EBITDA (X)	26.65	22.21	17.30	31.14	27.35
MarketCap / Net Operating Revenue (X)	3.16	2.82	1.78	3.13	2.73
Retention Ratios (%)	49.61	70.78	67.87	73.60	0.00
Price / BV (X)	7.38	7.68	5.81	7.99	4.45
Price / Net Operating Revenue (X)	3.16	2.82	1.78	3.13	2.73
EarningsYield	0.02	0.02	0.03	0.02	0.02

After reviewing the key financial ratios for Praj Industries Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 25, the value is 11.91. This value is within the healthy range. It has decreased from 15.42 (Mar 24) to 11.91, marking a decrease of 3.51.
For Diluted EPS (Rs.), as of Mar 25, the value is 11.91. This value is within the healthy range. It has decreased from 15.42 (Mar 24) to 11.91, marking a decrease of 3.51.
For Cash EPS (Rs.), as of Mar 25, the value is 16.61. This value is within the healthy range. It has decreased from 17.81 (Mar 24) to 16.61, marking a decrease of 1.20.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 75.17. It has increased from 69.34 (Mar 24) to 75.17, marking an increase of 5.83.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 75.17. It has increased from 69.34 (Mar 24) to 75.17, marking an increase of 5.83.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 175.61. It has decreased from 188.57 (Mar 24) to 175.61, marking a decrease of 12.96.
For PBDIT / Share (Rs.), as of Mar 25, the value is 20.44. This value is within the healthy range. It has decreased from 23.46 (Mar 24) to 20.44, marking a decrease of 3.02.
For PBIT / Share (Rs.), as of Mar 25, the value is 15.73. This value is within the healthy range. It has decreased from 21.07 (Mar 24) to 15.73, marking a decrease of 5.34.
For PBT / Share (Rs.), as of Mar 25, the value is 16.24. This value is within the healthy range. It has decreased from 20.53 (Mar 24) to 16.24, marking a decrease of 4.29.
For Net Profit / Share (Rs.), as of Mar 25, the value is 11.91. This value is within the healthy range. It has decreased from 15.42 (Mar 24) to 11.91, marking a decrease of 3.51.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 11.91. This value is within the healthy range. It has decreased from 15.42 (Mar 24) to 11.91, marking a decrease of 3.51.
For PBDIT Margin (%), as of Mar 25, the value is 11.63. This value is within the healthy range. It has decreased from 12.44 (Mar 24) to 11.63, marking a decrease of 0.81.
For PBIT Margin (%), as of Mar 25, the value is 8.95. This value is below the healthy minimum of 10. It has decreased from 11.17 (Mar 24) to 8.95, marking a decrease of 2.22.
For PBT Margin (%), as of Mar 25, the value is 9.24. This value is below the healthy minimum of 10. It has decreased from 10.88 (Mar 24) to 9.24, marking a decrease of 1.64.
For Net Profit Margin (%), as of Mar 25, the value is 6.78. This value is within the healthy range. It has decreased from 8.17 (Mar 24) to 6.78, marking a decrease of 1.39.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 6.78. This value is below the healthy minimum of 8. It has decreased from 8.17 (Mar 24) to 6.78, marking a decrease of 1.39.
For Return on Networth / Equity (%), as of Mar 25, the value is 15.84. This value is within the healthy range. It has decreased from 22.23 (Mar 24) to 15.84, marking a decrease of 6.39.
For Return on Capital Employeed (%), as of Mar 25, the value is 18.59. This value is within the healthy range. It has decreased from 26.96 (Mar 24) to 18.59, marking a decrease of 8.37.
For Return On Assets (%), as of Mar 25, the value is 6.92. This value is within the healthy range. It has decreased from 9.78 (Mar 24) to 6.92, marking a decrease of 2.86.
For Total Debt / Equity (X), as of Mar 25, the value is 0.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 0.00.
For Asset Turnover Ratio (%), as of Mar 25, the value is 1.07. It has decreased from 1.26 (Mar 24) to 1.07, marking a decrease of 0.19.
For Current Ratio (X), as of Mar 25, the value is 1.51. This value is within the healthy range. It has decreased from 1.52 (Mar 24) to 1.51, marking a decrease of 0.01.
For Quick Ratio (X), as of Mar 25, the value is 1.36. This value is within the healthy range. It has decreased from 1.37 (Mar 24) to 1.36, marking a decrease of 0.01.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 13.62. This value exceeds the healthy maximum of 8. It has increased from 6.90 (Mar 24) to 13.62, marking an increase of 6.72.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 50.38. This value exceeds the healthy maximum of 50. It has increased from 29.21 (Mar 24) to 50.38, marking an increase of 21.17.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 36.11. This value is within the healthy range. It has increased from 25.28 (Mar 24) to 36.11, marking an increase of 10.83.
For Earning Retention Ratio (%), as of Mar 25, the value is 49.62. This value is within the healthy range. It has decreased from 70.79 (Mar 24) to 49.62, marking a decrease of 21.17.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 63.89. This value is within the healthy range. It has decreased from 74.72 (Mar 24) to 63.89, marking a decrease of 10.83.
For Interest Coverage Ratio (X), as of Mar 25, the value is 19.95. This value is within the healthy range. It has decreased from 44.06 (Mar 24) to 19.95, marking a decrease of 24.11.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 11.13. This value is within the healthy range. It has decreased from 29.95 (Mar 24) to 11.13, marking a decrease of 18.82.
For Enterprise Value (Cr.), as of Mar 25, the value is 10,012.41. It has increased from 9,579.22 (Mar 24) to 10,012.41, marking an increase of 433.19.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 3.10. This value exceeds the healthy maximum of 3. It has increased from 2.76 (Mar 24) to 3.10, marking an increase of 0.34.
For EV / EBITDA (X), as of Mar 25, the value is 26.65. This value exceeds the healthy maximum of 15. It has increased from 22.21 (Mar 24) to 26.65, marking an increase of 4.44.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 3.16. This value exceeds the healthy maximum of 3. It has increased from 2.82 (Mar 24) to 3.16, marking an increase of 0.34.
For Retention Ratios (%), as of Mar 25, the value is 49.61. This value is within the healthy range. It has decreased from 70.78 (Mar 24) to 49.61, marking a decrease of 21.17.
For Price / BV (X), as of Mar 25, the value is 7.38. This value exceeds the healthy maximum of 3. It has decreased from 7.68 (Mar 24) to 7.38, marking a decrease of 0.30.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 3.16. This value exceeds the healthy maximum of 3. It has increased from 2.82 (Mar 24) to 3.16, marking an increase of 0.34.
For EarningsYield, as of Mar 25, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Praj Industries Ltd as of March 14, 2026 is: ₹637.27

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 14, 2026, Praj Industries Ltd is Undervalued by 102.95% compared to the current share price ₹314.00

Intrinsic Value of Praj Industries Ltd as of March 14, 2026 is: ₹515.75

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 14, 2026, Praj Industries Ltd is Undervalued by 64.25% compared to the current share price ₹314.00

Last 5 Year EPS CAGR: -19.07%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 16.08%, which is a positive sign. The company has higher reserves (849.31 cr) compared to borrowings (55.31 cr), indicating strong financial stability. The company has shown consistent growth in sales (218.23 cr) and profit (150.62 cr) over the years.	The stock has a high average Working Capital Days of 34.33, which may not be favorable. The stock has a high average Cash Conversion Cycle of 53.25, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Praj Industries Ltd:
1. Net Profit Margin: 6.78%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 18.59% (Industry Average ROCE: 15.76%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 15.84% (Industry Average ROE: 13.09%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 11.13
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.36
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 78.3 (Industry average Stock P/E: 38.29)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Praj Industries Ltd. is a Public Limited Listed company incorporated on 08/11/1985 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L27101PN1985PLC038031 and registration number is 038031. Currently Company is involved in the business activities of Manufacture of other special-purpose machinery. Company's Total Operating Revenue is Rs. 2744.66 Cr. and Equity Capital is Rs. 36.76 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Engineering - Heavy	Praj Tower, S.No. 274 & 275/2, Pune Maharashtra 411057	Contact not found

Management
Name	Position Held
Dr. Pramod Chaudhari	Chairman
Mr. Shishir Joshipura	Managing Director & CEO
Mr. Ashish Gaikwad	Managing Director
Mr. Sachin Raole	Director & CFO
Ms. Parimal Chaudhari	Non Executive Director
Dr. Shridhar Shukla	Independent Director
Mr. Utkarsh Palnitkar	Independent Director
Mr. Vinayak Deshpande	Independent Director
Mr. Rujuta Jagtap	Independent Director
Mr. Ajay Deshpande	Independent Director

FAQ

What is the intrinsic value of Praj Industries Ltd?

Praj Industries Ltd's intrinsic value (as of 14 March 2026) is ₹515.75 which is 64.25% higher the current market price of ₹314.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹5,780 Cr. market cap, FY2025-2026 high/low of ₹592/273, reserves of ₹1,264 Cr, and liabilities of ₹3,233 Cr.

What is the Market Cap of Praj Industries Ltd?

The Market Cap of Praj Industries Ltd is 5,780 Cr..

What is the current Stock Price of Praj Industries Ltd as on 14 March 2026?

The current stock price of Praj Industries Ltd as on 14 March 2026 is ₹314.

What is the High / Low of Praj Industries Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Praj Industries Ltd stocks is ₹592/273.

What is the Stock P/E of Praj Industries Ltd?

The Stock P/E of Praj Industries Ltd is 78.3.

What is the Book Value of Praj Industries Ltd?

The Book Value of Praj Industries Ltd is 70.8.

What is the Dividend Yield of Praj Industries Ltd?

The Dividend Yield of Praj Industries Ltd is 1.91 %.

What is the ROCE of Praj Industries Ltd?

The ROCE of Praj Industries Ltd is 17.9 %.

What is the ROE of Praj Industries Ltd?

The ROE of Praj Industries Ltd is 14.1 %.

What is the Face Value of Praj Industries Ltd?

The Face Value of Praj Industries Ltd is 2.00.