Praj Industries Q1 FY27 Revenue Up 12% YoY

Income from operations: ₹716 crore (₹7.16 billion) compared to ₹640 crore (₹6.4 billion) in Q1 FY26, representing 12% year-over-year growth
PBT before exceptional items: ₹21.05 crore (₹210.5 million) compared to ₹9.609 crore (₹96.09 million) in Q1 FY26
Profit after tax: ₹11.61 crore (₹116.1 million) compared to ₹5.34 crore (₹53.4 million) in Q1 FY26

Order intake during the quarter: ₹1,000 crore (₹10 billion)
Domestic market contribution to order intake: 57%
Order intake by segment: Bioenergy (62%), Engineering (28%), Praj HiPurity Systems (10%)
Order backlog as of June 30, 2026: ₹4,590 crore (₹45.9 billion)
Domestic orders comprise 63% of total backlog

Shareholders approved payment of final dividend of 180% per share at yesterday's AGM

Domestic first-generation ethanol business experiencing slowdown in greenfield projects, with inquiries limited to ethanol deficit areas like Tamil Nadu and Assam
Strong demand for Brownfield solutions focusing on operational efficiency improvements and value-added co-products like Distillers Corn Oil (DCO)
Significant demand for greenfield ENA plants where Praj has technology edge
Extended project execution cycles due to funding-related issues and supply-demand imbalance in ethanol market

Received order for greenfield grain-to-ethanol plant in Brazil (corn-to-ethanol, 800 KLPD capacity)
Monitoring US market developments following E15 (15% blending) announcement
Engaging with potential customers in Indonesia, Vietnam, Kenya, Panama, Argentina, Guatemala, Costa Rica, and Bolivia where governments are increasing biofuels share

Received order to set up India's first commercial-scale demo plant for Bio-Isobutanol alcohol (Bio-IBA)
Bio-IBA blending in diesel anticipated to be significant step in nation's biofuels journey
2% blending mandate for Bio-IBA in diesel has potential to create over ₹3,000 crore project opportunity
Plant construction to be completed by December 2026

Union cabinet approved GOBARdhan, the National Circular Bioenergy Scheme, with total outlay of over ₹23,000 crores
Scheme implementation period: FY 2026-2027 to FY 2035-2036
Aims to scale domestic CBG production nearly tenfold and build vibrant circular bioeconomy
State governments including Maharashtra, Odisha, Chhattisgarh, Assam have announced supporting policies
Praj has proven technology performance on multiple feedstocks including press mud, rice straw, and Napier grass
Municipal solid waste segment still facing technical challenges related to feedstock segregation
Continuing discussions on CBG joint ventures, including with BPCL

Received order to deliver detailed engineering for ethanol-to-SAF plant from international customer
Completed basic engineering order for same customer in previous quarter
International Civil Aviation Organization (ICAO) officially approved sugarcane and sugarcane derivatives for SAF production
Certification helps alcohol-to-jet technology as accepted pathway for SAF

Growing steadily quarter-over-quarter
Providing physical and digital services for optimal plant performance and efficiency
Offering performance enhancer solutions and biogenic CO2 capture solutions
Conducted several trials for performance enhancers in Latin American region

Secured significant global supply agreement as engineering and manufacturing partner for critical modular infrastructure for hyperscale data centers
Strategic framework guarantees minimum business volume of approximately USD 50 million over next 2.5 years
Agreement marks strategic diversification into high-growth global engineering market outside core bioenergy business
Leverages established mega manufacturing capacity at Mangaluru
First project delivery expected in Q2-Q4 FY27
Focus on creating infrastructure for server halls and cooling systems
Endeavoring to achieve EBITDA breakeven by end of current financial year

Batteries, semiconductors, and solar panel (BSS) segment opening new opportunities in India
Received first combined contract for supply of ultrapure water and ZLD solutions for semiconductor company in India
Expanding solutions offerings to emerging industry segments

For 100 KLPD ethanol plant: Typical Capex between ₹100-120 crores, depending on feedstock and final product
Praj scope typically 50%-60% of project value, including process technology and critical equipment

Q1 margins subdued due to volumes and business mix
Expecting margin improvement through international mix enhancement and Praj GenX order execution
Material cost increased by 3% in current quarter while other expenses increased by 4%
Year-over-year material cost up approximately 10% due to higher export sales component in previous year
Engineering services component in Praj GenX affecting consolidated vs standalone margin comparison
Services margins better than project margins; focus on increasing services share through installed base leverage

Balanced growth across all business portfolios
Leveraging government policies on emissions control for ZLD solutions growth
Expanding into new segments including batteries, solar panels, and semiconductors requiring high purity water
Internationalization efforts showing results
Multiple new avenues opening up including Sustainable Aviation Fuel

Funding-related issues persisting, resulting in extended project execution cycles
Supply-demand imbalance impacting project backlog conversions to revenues
Geopolitical scenario creating upward pressure on material costs, particularly steel
Working on improving collections affected by slow backlog conversion

Dr. Pramod Chaudhari Centre of Excellence for Advanced Bioeconomy inaugurated at Savitribai Phule Pune University on August 10, 2026 (World Biofuel Day)
Pioneering initiative serving as hub for interdisciplinary research, innovation, education, and industry collaboration
Will create solutions for tomorrow's challenges while nurturing talent needed to drive bioeconomy