Prakash Industries Limited
1. Financial Results for Quarter Ended 30th June, 2026
The Board approved the unaudited financial results for Q1 FY27:
Financial Performance (₹ in lakhs):
- Revenue from operations: ₹1,03,200 (vs. ₹1,03,708 in Q1 FY26)
- Total Income: ₹1,03,868 (vs. ₹1,04,290 in Q1 FY26)
- EBITDA: ₹15,400 (calculated from press release: ₹154 crores)
- Profit before tax: ₹9,274 (vs. ₹9,140 in Q1 FY26)
- Profit after tax: ₹7,127 (vs. ₹9,140 in Q1 FY26)
- Total Comprehensive Income: ₹6,912
Earnings Per Share (Face value ₹10):
- Basic EPS: ₹3.98 (vs. ₹5.10 in Q1 FY26)
- Diluted EPS: ₹3.98 (vs. ₹5.10 in Q1 FY26)
Key Notes on Financials:
- The decrease in PAT by 22% YoY is primarily due to the company opting for the new tax regime under the Income Tax Act, 2025 effective 1st April, 2026, making tax exemption under section 80-IA unavailable.
- Deferred tax liability of ₹165 lakhs for the quarter has been adjusted against Securities Premium Account pursuant to a court order.
- The company operates in a single reportable segment: "Iron & Steel".
2. Statutory Auditor Appointment
The Board recommended the appointment of M/s. SGAJ & Associates, Chartered Accountants (FRN: 323891 E) as statutory auditors for a 5-year term, subject to shareholder approval at the 45th AGM on 30th September, 2026. They would replace the current auditors, Chaturvedi and Co. LLP, who are completing their second term.
Profile of New Auditors:
- SGAJ & Associates has over 27 years of multi-industry experience
- Serves as statutory auditors for numerous listed companies
- Maintains branch offices in Kolkata, Jaipur, and Delhi with PAN India reach
- Specializes in statutory audits, management audits, risk assurance, taxation, and corporate restructuring
3. Senior Management Personnel Appointments
The Board designated 10 officials as Senior Management Personnel effective 11th August, 2026:
1. Shri Ashok Kumar Chaturvedi - Executive Director (Corporate Affairs), B.sc, B.Ed., Diploma in Material Management, 40+ years experience
2. Shri Mahindra Kumar Pareek - Executive Director (Plant Head), B.Sc., LL.B., MBA in HR & Marketing, 48+ years experience
3. Shri Sanjay Joshi - Executive Director (Commercial), M.Com., 39+ years experience
4. Shri Deepak Mishra - Executive Director (Accounts & Taxation), Chartered Accountant, 20+ years experience
5. Shri Sudhakar Saraswat - President (Purchase)
6. Shri Ashok Kumar Sharma - President (Accounts), M.Com., 40+ years experience
7. Shri Deepak Dash - Sr. Vice President (Sirkaguttu Iron ore Mine), MBA in HR & Marketing, LLB, 23+ years experience
8. Shri Arun Kumar Singh - Vice President (Bhaskarpara Coal Mine), Diploma in Mining and Mine Surveying, 23+ years experience
9. Shri Udai Singh - Assistant Vice President (HR & Admin), M.A., 40+ years experience
10. Shri Rajendran Rathinam - General Manager (Windmill Division), B.Sc., 38+ years experience in windmill operations
4. Operational Highlights
- Coal extraction from Bhaskarpara Coal Mine: ~3.3 lakh MT during the quarter
- FY27 coal extraction target: 1.2 million tonnes, following Environmental Clearance from Ministry of Environment, Forest and Climate Change (letter dated 1st June 2026) for capacity increase from 1.0 MTPA to 1.2 MTPA
5. Regulatory Compliance
- The financial results were reviewed by the Audit Committee and approved by the Board
- Statutory auditors have reviewed the financial results pursuant to Regulation 33 of SEBI LODR
- The statement prepared in accordance with Indian Accounting Standards (Ind AS)
Meeting Details
- Board meeting commenced at 12:30 PM and concluded at 2:40 PM on 11th August, 2026