Praj Industries Ltd.Q2 PAT +20% YoY, up to ₹100 Cr CBG JV with BPCL

Praj Industries' Q2 FY27 call, held on 30 October 2026, reported consolidated income from operations of ₹849 crore, almost level with ₹842 crore a year earlier, while profit before tax rose to ₹36.1 crore from ₹29.6 crore and profit after tax to ₹23.1 crore from ₹19.2 crore.

Order intake was ₹715 crore, which an analyst called weak, and the backlog stands at ₹4,460 crore, 63% domestic. Domestic greenfield ethanol projects are slowed by customer funding, an ethanol supply-demand imbalance and oil marketing company tenders that exclude sugarcane juice, syrup and B-Heavy molasses, while an international pipeline of about ₹1,000 crore is building. The board gave in-principle approval to invest up to ₹100 crore in a proposed compressed biogas joint venture with BPCL, which could support 8 to 10 plants.

The GenX engineering business expects profit-before-tax breakeven within 12 months, and has a data-centre fabrication tie-up worth about $52 million over two and a half years. The Joint Managing Director agreed that an EBITDA margin of about 6.2% has bottomed out. Management expects better order bookings in the second half.