# Praj Industries share price today (Praj Industries Ltd, NSE: PRAJIND)

> Praj Industries share price today: ₹254.63 at the NSE close on 3 November 2026, down 24.6% in a year. Praj Industries (NSE: PRAJIND) is worth ₹4,675 crore, trades at a P/E of 86.0 and has closed between ₹241.70 and ₹408.35 over the past 52 weeks. > Praj Industries Ltd's share price has risen faster than its earnings: −24.6% in a year, against −89.1% for earnings per share. PRAJIND · Capital Goods - Engineering Heavy · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/praj-industries-ltd

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: ₹254.63 (−24.6% in a year)
- P/E: 86.0× (higher than 95% of the last 11 years)
- Revenue (Sep 2026): ₹849 Cr (+0.8% on a year ago)
- Profit (Sep 2026): ₹23.0 Cr (+21.1% on a year ago)
- Operating margin: 6.0% (−1.0 points on a year ago)
- ROCE: 6%, FY26
- ROIC: 2.4%, against a 12.0% cost of capital: −9.6 points

The main question: the share price moved −24.6% in a year while yearly earnings per share moved −89.1%. The difference came from the market paying a higher multiple. ## What is the Praj Industries share price today? Praj Industries Ltd's share price was ₹254.63 at the close on 3 November 2026. It has been falling for 16 weeks. That is 24.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹242 and ₹408, and at that close it sat 8% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 10 weeks running. Over the last 11 years the share price moved +203% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 28 August 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Praj Industries this quarter? ## What are Praj Industries' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Praj Industries reported revenue of ₹849 crore, up 0.8% from ₹842 crore a year earlier, and a profit of ₹23.0 crore, up 21.1% from ₹19.0 crore. ### Praj Industries results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹849 crore | ₹842 crore | +0.8% |
| Profit | ₹23.0 crore | ₹19.0 crore | +21.1% |
| Earnings per share | ₹1.26 | ₹1.05 | +20.0% |
| Operating margin | 6.0% | 7.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Praj Industries' management discussed these results on a call held on 30 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Praj Industries share price history? Praj Industries closed at ₹254.63 on 3 November 2026, down 24.6% from ₹337.60 a year earlier (31 October 2025) and down 28.2% over five years. Its highest weekly close since March 2016 was ₹836.35 on 3 January 2025. ### Praj Industries share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹251.20 | +1.4% |
| 1 month ago · 1 Oct 2026 | ₹303.25 | −16.0% |
| 6 months ago · 30 Apr 2026 | ₹408.35 | −37.6% |
| 1 year ago · 31 Oct 2025 | ₹337.60 | −24.6% |
| 3 years ago · 3 Nov 2023 | ₹547.35 | −53.5% |
| 5 years ago · 4 Nov 2021 | ₹354.45 | −28.2% |
| 10 years ago · 4 Nov 2016 | ₹83.25 | +205.9% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹84.05 | +203.0% |
| Highest weekly close since March 2016 · 3 Jan 2025 | ₹836.35 | −69.6% |
| Lowest weekly close since March 2016 · 20 Mar 2020 | ₹52.50 | +385.0% |
| 52-week high (weekly close) · 30 Apr 2026 | ₹408.35 | −37.6% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹241.70 | +5.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (560 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Praj Industries? 3 Nov 2026: Praj Industries closed at ₹254.63, up 1.4% on the week and down 16.0% on the month. 30 Oct 2026: Praj Industries held its results call for July to September 2026. Management guided: GenX FY27 order intake ₹800-1,000 crore on track including multi-year datacenter framework minimum $52 million over 2.5 years via quarterly tranches. ### Earlier

- Results for July to September 2026: Revenue up 0.8% and profit up 21.1% on a year earlier. - 6 Aug 2026: ex-date for a dividend of ₹3.60 a share. ## What dividend does Praj Industries pay? Praj Industries paid ₹3.60 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.41% at the ₹254.63 close on 3 November 2026. The last was a dividend of ₹3.60 a share, ex-date 6 August 2026. ### Praj Industries dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 6 Aug 2026 | ₹3.60 | Dividend |
| 4 Aug 2025 | ₹6 | Dividend |
| 18 Jul 2024 | ₹6 | Dividend |
| 19 Jul 2023 | ₹4.50 | Dividend |
| 27 Jul 2022 | ₹4.20 | Dividend + Special |
| 3 Aug 2021 | ₹2.16 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Praj Industries Ltd paid out 278% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Praj Industries management say on the latest results call? On the call for July to September 2026, held on 30 October 2026, Praj Industries' management guided: GenX FY27 order intake ₹800-1,000 crore on track including multi-year datacenter framework minimum $52 million over 2.5 years via quarterly tranches. > “First of all, we believe that we can still achieve the vision communicated by our Chairman in November 2024, which you mentioned. What has happened, though, is that some of the inflection points we had assumed in our journey have been delayed. They have not been cancelled, but they have been delayed.”
> Ashish Gaikwad, responding to question on long-term revenue vision, on the call for July to September 2026

### What management guided

- Profit before tax breakeven within next 12 months on ₹500-600 crore turnover covering ₹140-150 crore annual cost with interest and depreciation. - Orders to start trickling from Q3 onward with revenue from Q4 onward after long-cycle engineering to module conversion; H2 bookings seen better. - International bioenergy pipeline approximately ₹1,000 crore over next few quarters plus GenX on top; domestic greenfield clarity by financial year-end. - CBG venture with ₹100 crore each for 8-10 plants needing ₹800-1,000 crore capital spending; set-up in 2-3 months plus 3 months activation with first output after 15 months over 2-3 years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/2332-30-Oct-2026.pdf). (From the call for July to September 2026, 30 October 2026.)

## What to watch in Praj Industries' next results? When Praj Industries reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: GenX orders to start trickling with revenue conversion after cycle lag - check intake pace and sheds ramp against flagged timing. - What to check (from the call)
- GenX orders to start trickling with revenue conversion after cycle lag - check intake pace and sheds ramp against flagged timing. - CBG venture to move from in-principle to incorporated entity with identified projects activating - check definitive terms and activation. - Bio-IBA demo to complete with diesel-blend test readouts while SAF advances toward customer decision - check milestones and conversion. ## Which stock lists is Praj Industries on? Praj Industries is on 2 of our India lists: 52 week high & low and AI & data centre stocks. - [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [AI & data centre stocks Group on the list: Data centre suppliers](https://www.sectoralpha.in/ai-stocks-india)

## Is Praj Industries profitable? Praj Industries Ltd earned ₹23.0 Cr of net profit in the Sep 2026 quarter, +21.1% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹24.0 Cr. Over 10 years profit has grown −11.6% a year on average. That is 2.7% of the quarter's revenue. The same quarter a year earlier earned ₹19.0 Cr. 1 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹24.0 Cr (−89.0% on the year before). Why profit moved: revenue changed +0.8% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed −9.6% and revenue +2.4%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Praj Industries make, and is it growing? Praj Industries Ltd reported ₹849 Cr of revenue in the Sep 2026 quarter, +0.8% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 12.0% a year on average. The last full year, FY26, came in at ₹3,168 Cr. The last four reported quarters add to ₹3,251 Cr. FY26 revenue was ₹3,168 Cr, −1.9% on the year before. Recent pace: the last four quarters grew +2.4% on average, against 12.0% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +1.8%, against −1.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −66.7%, against −65.8% a year (stabilising). ## How much of every ₹100 of sales does Praj Industries keep? Praj Industries Ltd's operating margin was 6.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 4.9% and 11.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −0.5 percentage points on the year while gross margin changed −11.1 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Praj Industries' profit turning into cash? Over the last 3 years, 84% of Praj Industries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹200 Cr of operating cash against ₹24.0 Cr of profit. After ₹87.0 Cr of spending on assets, ₹113 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 84% of profit came in as cash: the cash cycle got 29 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.0× depreciation over three years. The next section checks what that spending is building. ## Where does Praj Industries' cash go? Praj Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −8 days in FY26, down from 21 days in FY21. It spent ₹478 Cr on assets over the last 3 years. Customers take 64 days to pay, and stock sits for 60 days on average. At FY26 sales of ₹3,168 Cr, each day of that cycle ties up about ₹8.7 Cr, so roughly −₹69.0 Cr is tied up in the business at any time. FY26: customers took 64 days to pay and stock sat for 60 days, about 2.0 months of sales sitting as stock, for a full cycle of −8 days, shorter than FY21's 21. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 60 days. Customers pay about 64 days after that. Suppliers are paid at 132 days. Together that makes the −8-day cycle. Spending on assets: ₹478 Cr over the last 3 years, against ₹236 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹6.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Praj Industries' P/E ratio, and how does it compare with its own history? Praj Industries Ltd's P/E is 86.0×, near the high end of its own history: higher than 95% of past readings. Its usual P/E (the middle reading) is 41.0×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹1.85. Why the multiple is where it is: over the past year earnings per share moved −89.1% while the price moved −24.6%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved −6.4% a year; about −16.7% a year came from earnings growth and about +10.3 percentage points from the multiple (the market paying more); over 10 years the price moved +11.8% a year; about −3.6% a year came from earnings growth and about +15.4 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Praj Industries business getting better or worse? Praj Industries Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −66.7% in the latest quarter, against +33.5% at its best in 12 quarters, with ROCE steady at 6.0%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## How much does Praj Industries earn on its capital? Praj Industries Ltd earned a ROCE of 6% in FY26. Its return on capital used (ROIC) is 9.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 0.8% net margin and 1.04× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 0.8% net margin × 1.04× asset turnover × 2.33× leverage (assets divided by equity) ≈ 1.9% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 2.4% − 12.0% = −9.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Praj Industries have too much debt? Praj Industries Ltd has total debt of ₹138 Cr against shareholder equity of ₹1,278 Cr as of Sep 2026, so its debt is 0.11× its equity, which is very little. Year by year, that ratio went from 0.02 in FY22 to 0.13 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Praj Industries shareholding pattern? Foreign institutions cut their stake in Praj Industries Ltd by 2.3 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 16.8% of the company. Domestic institutions moved −1.7 points over the same period, to 15.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −2.3 points over 8 quarters, to 16.8%; Domestic institutions: −1.7 points over 8 quarters, to 15.7%; Promoters: +0.0 points over 8 quarters, to 32.8%. Why the owners changed: foreign institutions drove it (−2.3 points), together with domestic institutions (−1.7 points). They reduced their stake. ## How far is Praj Industries from balance-sheet trouble? For Praj Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Praj Industries rank in its industry? 25.8 out of 100, rank 16 of 16 in Capital Goods - Engineering Heavy, with 85% of the evidence available. Praj Industries Ltd scores 25.8 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 16. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 7.7 + 8.5 + 1.4 + 8.2 = 25.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Praj Industries compared with? Praj Industries ranks 16 of 16 Capital Goods - Engineering Heavy companies on the 4-Factor Sector Score, with 25.8 out of 100. 1. [JNK India Ltd](https://www.sectoralpha.in/stocks/jnk-india-ltd) JNKINDIA · quiet · Most evidence points up · 79% evidence 69.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 84.4% · Profit 100% · Operating margin change 5.5 points · 88% evidence Capital efficiency 14.8/25 · ROCE 17.4% · Operating margin 8.8% · 100% evidence Valuation 10.7/20 · P/E 28× · PEG n/a · 15% evidence Relative strength 13.6/20 · Lead over its industry 14.8% · Lead over NIFTY 500 15.5% · 1 year 28.7% · 100% evidence · 3 of 12 weeks ahead Exact sum: 30.8 + 14.8 + 10.7 + 13.6 = 69.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Bharat Heavy Electricals Ltd](https://www.sectoralpha.in/stocks/bharat-heavy-electricals-ltd) BHEL · losing its lead · Evidence leans up · 75% evidence 62.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 29.1% · Profit 100% · Operating margin change 3 points · 95% evidence Capital efficiency 9.0/25 · ROCE 9.1% · Operating margin 11% · 76% evidence Valuation 9.7/20 · P/E 46.9× · PEG n/a · 15% evidence Relative strength 15.8/20 · Lead over its industry 16.2% · Lead over NIFTY 500 18% · 1 year 46% · 100% evidence · 7 of 12 weeks ahead Exact sum: 27.9 + 9 + 9.7 + 15.8 = 62.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Disa India Ltd](https://www.sectoralpha.in/stocks/disa-india-ltd) DISAQ · quiet · Evidence leans up · 81% evidence 59.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.9/35 · Revenue 3.8% · Profit 6.3% · Operating margin change -1 points · 88% evidence Capital efficiency 21.2/25 · ROCE 26.6% · Operating margin 14% · 100% evidence Valuation 11.6/20 · P/E 30.4× · PEG 1.9 · 100% evidence Relative strength 9.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.5% · 1 year -18.3% · 25% evidence · 1 of 12 weeks ahead Exact sum: 16.9 + 21.2 + 11.6 + 9.6 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Concord Control Systems Ltd turning · Too little evidence to rank firmly · 57% evidence 58.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.6/35 · Revenue 100% · Profit 100% · Operating margin change 10 points · 27% evidence Capital efficiency 17.4/25 · ROCE 31.2% · Operating margin 30% · 71% evidence Valuation 9.0/20 · P/E 58.4× · PEG n/a · 50% evidence Relative strength 12.6/20 · Lead over its industry -1.8% · Lead over NIFTY 500 1.6% · 1 year 22.7% · 100% evidence · 1 of 12 weeks ahead Exact sum: 19.6 + 17.4 + 9 + 12.6 = 58.6 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Eimco Elecon (India) Ltd](https://www.sectoralpha.in/stocks/eimco-elecon-indialtd) EIMCOELECO · leader · Evidence leans up · 85% evidence 57.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 25.3% · Profit 2.9% · Operating margin change 3.2 points · 100% evidence Capital efficiency 11.5/25 · ROCE 10.3% · Operating margin 18.9% · 100% evidence Valuation 11.2/20 · P/E 29.3× · PEG 1.12 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 26.2% · 1 year 14.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 22.9 + 11.5 + 11.2 + 12.3 = 57.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Suzlon Energy Ltd](https://www.sectoralpha.in/stocks/suzlon-energy-ltd) SUZLON · basing · Evidence leans up · 100% evidence 56.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.4/35 · Revenue 33.9% · Profit -28.8% · Operating margin change -4 points · 100% evidence Capital efficiency 20.5/25 · ROCE 34.2% · Operating margin 15% · 100% evidence Valuation 19.0/20 · P/E 20.5× · PEG 0.36 · 100% evidence Relative strength 3.8/20 · Lead over its industry -29.6% · Lead over NIFTY 500 -27% · 1 year -42.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 13.4 + 20.5 + 19 + 3.8 = 56.7 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Hercules Investments Ltd](https://www.sectoralpha.in/stocks/hercules-investments-ltd) HERCULES · Evidence leans up · 65% evidence 51.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.2/43.75 · Revenue -80% · Profit -74.3% · Operating margin change -0.4 points · 56% evidence Capital efficiency 10.9/31.25 · ROCE 5.7% · Operating margin 48.7% · 100% evidence Valuation 22.1/25 · P/E 8.6× · PEG 0.28 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 18.2 + 10.9 + 22.1 = 51.2 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Integra Engineering India Ltd](https://www.sectoralpha.in/stocks/integra-engineering-india-ltd) basing · Evidence leans down · 76% evidence 48.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.4/35 · Revenue 1.7% · Profit -16.6% · Operating margin change -3.5 points · 83% evidence Capital efficiency 18.2/25 · ROCE 18.5% · Operating margin 16.4% · 95% evidence Valuation 9.9/20 · P/E 34.1× · PEG n/a · 15% evidence Relative strength 9.7/20 · Lead over its industry -16.3% · Lead over NIFTY 500 -13.7% · 1 year -38.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.4 + 18.2 + 9.9 + 9.7 = 48.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [John Cockerill India Ltd](https://www.sectoralpha.in/stocks/john-cockerill-india-ltd) COCKERILL · quiet · Evidence leans down · 74% evidence 46.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/35 · Revenue 78.6% · Profit 100% · Operating margin change -4.6 points · 88% evidence Capital efficiency 8.8/25 · ROCE 11.1% · Operating margin -2.3% · 100% evidence Valuation 3.9/20 · P/E 155× · PEG 9.45 · 65% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 7.1% · 1 year 28% · 25% evidence · 3 of 12 weeks ahead Exact sum: 22 + 8.8 + 3.9 + 11.6 = 46.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Walchandnagar Industries Ltd](https://www.sectoralpha.in/stocks/walchandnagar-industries-ltd) WALCHANNAG · quiet · Evidence leans down · 71% evidence 45.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 38% · Profit 96.7% · Operating margin change 12.9 points · 65% evidence Capital efficiency 5.4/25 · ROCE 4.2% · Operating margin 8.1% · 100% evidence Valuation 9.1/20 · P/E 114.5× · PEG n/a · 15% evidence Relative strength 5.3/20 · Lead over its industry -8.4% · Lead over NIFTY 500 -6.5% · 1 year 1.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25.2 + 5.4 + 9.1 + 5.3 = 45 · What this means: Earnings are strong; relative strength in its sector is -8.4% and the one-year return is 1.5%. 11. [Inox Wind Ltd](https://www.sectoralpha.in/stocks/inox-wind-ltd) INOXWIND · quiet · Evidence leans down · 89% evidence 38.7 out of 100 Growth Capital Valuation Relative
12. [The Anup Engineering Ltd](https://www.sectoralpha.in/stocks/the-anup-engineering-ltd) ANUP · quiet · Evidence leans down · 89% evidence 38.7 out of 100 Growth Capital Valuation Relative
13. [Windsor Machines Ltd](https://www.sectoralpha.in/stocks/windsor-machines-ltd) WINDMACHIN · turning · Too little evidence to rank firmly · 56% evidence 37.5 out of 100 Growth Capital Valuation Relative
14. [Kabra Extrusion Technik Ltd](https://www.sectoralpha.in/stocks/kabra-extrusion-technik-ltd) KABRAEXTRU · leader · Evidence leans down · 78% evidence 37.0 out of 100 Growth Capital Valuation Relative
15. [Bajaj Steel Industries Ltd](https://www.sectoralpha.in/stocks/bajaj-steel-industries-ltd) BAJAJST · quiet · Most evidence points down · 81% evidence 29.7 out of 100 Growth Capital Valuation Relative
16. Praj Industries Ltd this page PRAJIND · quiet · Most evidence points down · 85% evidence 25.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.7/35 · Revenue 1.8% · Profit -66.7% · Operating margin change -1 points · 100% evidence Capital efficiency 8.5/25 · ROCE 6.1% · Operating margin 6% · 100% evidence Valuation 1.4/20 · P/E 81.7× · PEG 4.5 · 100% evidence Relative strength 8.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -22.5% · 1 year -28.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 7.7 + 8.5 + 1.4 + 8.2 = 25.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Engineering Heavy](https://www.sectoralpha.in/sectors/capital-goods-engineering-heavy), all 16 compared on one page. ## Which companies are close to Praj Industries in size? Praj Industries is the 4th largest of 16 Capital Goods - Engineering Heavy companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Bharat Heavy Electricals, Suzlon Energy and Inox Wind. Just below it: John Cockerill India, Windsor Machines and The Anup Engineering. ### Capital Goods - Engineering Heavy companies close in size

1. [Bharat Heavy Electricals Ltd](https://www.sectoralpha.in/stocks/bharat-heavy-electricals-ltd) ₹1,34,965 crore
2. [Suzlon Energy Ltd](https://www.sectoralpha.in/stocks/suzlon-energy-ltd) ₹46,227 crore
3. [Inox Wind Ltd](https://www.sectoralpha.in/stocks/inox-wind-ltd) ₹9,540 crore
4. Praj Industries Ltd ₹4,443 crore
5. [John Cockerill India Ltd](https://www.sectoralpha.in/stocks/john-cockerill-india-ltd) ₹3,284 crore
6. [Windsor Machines Ltd](https://www.sectoralpha.in/stocks/windsor-machines-ltd) ₹2,762 crore
7. [The Anup Engineering Ltd](https://www.sectoralpha.in/stocks/the-anup-engineering-ltd) ₹2,630 crore

[All 16 Capital Goods - Engineering Heavy companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-engineering-heavy#all-companies)

### Companies close in size in other industries

1. [Fiem Industries Ltd](https://www.sectoralpha.in/stocks/fiem-industries-ltd) ₹4,454 crore · Auto Ancillaries - 2&3 Wheelers
2. [Savita Oil Technologies Ltd](https://www.sectoralpha.in/stocks/savita-oil-technologies-ltd) ₹4,452 crore · Petrochem - Others
3. Praj Industries Ltd ₹4,443 crore
4. [MAS Financial Services Ltd](https://www.sectoralpha.in/stocks/mas-financial-services-ltd) ₹4,439 crore · Finance & Investments - MSME Lending
5. [Surya Roshni Ltd](https://www.sectoralpha.in/stocks/surya-roshni-ltd) ₹4,436 crore · Steel - Tubes/Pipes

## What else do people ask about Praj Industries? ### What is Praj Industries's share price today? Praj Industries Ltd's share price is ₹254.63, −24.6% over the past year. The whole company is worth ₹4,675 Cr on the market. In the last 52 weeks it traded between ₹242 to ₹408; today it is 8% of the way up from the low, 24.5% below its 200-day average (as of 3 November 2026). ### What were Praj Industries's latest quarterly results? Praj Industries Ltd reported revenue of ₹849 Cr and net profit of ₹23.0 Cr for the Sep 2026 quarter. Revenue rose 0.8% and profit rose 21.1% compared with a year earlier. Earnings per share were ₹1.26. The operating margin was 6.0%, 1.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Praj Industries's market cap? Praj Industries Ltd's market capitalisation is ₹4,675 Cr at a share price of ₹254.63. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Praj Industries performing? Praj Industries Ltd's share price has been falling for 16 weeks. In its latest quarter, revenue rose 0.8% and profit rose 21.1% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 10 weeks running (as of 3 November 2026). ### Will Praj Industries's share price go up? This page does not forecast Praj Industries Ltd's share price. What it shows instead: the share price is ₹254.63, and it has been falling for 16 weeks. Its P/E of 86.0× is higher than 95% of its own last 11 years (as of 3 November 2026). ### Who owns Praj Industries? Promoters own 32.8% of Praj Industries Ltd, foreign institutions 16.8%, domestic institutions 15.7% and the public 34.8% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 2.3 percentage points over 8 quarters (as of 3 November 2026). ### Does Praj Industries have too much debt? No, Praj Industries Ltd has little debt: its debt is 0.13× its equity, and its operating profit is 8 times its interest bill. FY26 borrowings were ₹173 Cr against equity of ₹1,309 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Praj Industries in its business cycle? Praj Industries Ltd's FY26 operating margin was 4.9%, against a 13-year range of 4.9% to 11.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 6.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Praj Industries story? The main question: the share price moved −24.6% in a year while yearly earnings per share moved −89.1%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Praj Industries a stock worth studying right now? What the numbers show: Praj Industries Ltd's share price has risen faster than its earnings: −24.6% in a year, against −89.1% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Praj Industries share price forecast for 2026? What management itself guided: GenX FY27 order intake ₹800-1,000 crore on track including multi-year datacenter framework minimum $52 million over 2.5 years via quarterly tranches. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- AI & data centre stocks: https://www.sectoralpha.in/ai-stocks-india

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