Interim report
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Praj Industries Limited Regd. Office: ‘Praj Tower’, 274 & 275/2, Bhumkar Chowk, Hinjewadi Road, Hinjewadi, Pune 411057. Ph.: +91-20-71802000 / 22941000 f: +91-20-22941299 e: info@praj.net w: www.praj.net CIN: L27101PN1985PLC038031 Date: 29th October, 2026 Ref.: PIL/ANB/L-064/2026-27 Sub.: Submission of Un-audited Financial Results (Standalone and Consolidated) of the Company for the second quarter and half year ended 30th September, 2026. Dear Sir / Madam, The Board of Directors (“the Board”) at its meeting held on 29th October, 2026, which commenced at 11:00 a.m. and concluded at 3:45 p.m. has approved the Un-audited Financial Results (Standalone and Consolidated) of the Company for the second quarter and half year ended 30th September, 2026, as reviewed and recommended by the Audit Committee. The Un-audited Financial Results (Standalone and Consolidated) of the Company for the second quarter and half year ended 30th September, 2026, prepared in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, together with the Limited Review Report issued by M S K A & Associates LLP, Statutory Auditors of the Company are enclosed herewith. These Results are also being uploaded on the Company’s website at https://www.praj.net/investors-type/quarterly-results/. You are requested to kindly take the above information on your record. Thanking you, Yours faithfully, FOR PRAJ INDUSTRIES LIMITED ANANT BAVARE COMPANY SECRETARY & COMPLIANCE OFFICER (M. NO. 21405) Encl.: As above Company Code: PRAJIND National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Security Code No.: 522205 BSE Ltd. Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai - 400 001
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MSKA & Associates LLP (Formerl y known as M S K A & Associat es) Chartered Account ants Floor 6, Building No. 1 Cerebrum IT Park, Kalyani Nagar Pune 411014, INDIA Independent Auditor's Review Report on Standalone unaudited financial results of Praj Industries Limfted for the quarter and year to date September 30, 2026 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Praj Industries Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results of Praj Industries Limited (hereinafter referred to as 'the Company' ), for the quarter ended September 30, 2026 and the year to-date results for the period from April 1, 2026 to September 30, 2026 ('the Statement ' ) attached herewith , being submitted by the Company pursuant to the requirements of Regulation 33 of the Securitie s and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement , which is the responsibility of the Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder ('Ind AS 34' ) and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit . Accordingly, we do not express an audit opinion . (This space is intentionally left blank) Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai www.mska.in
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MSKA Et Associates LLP (Formerly known as M S K A &. Associates) Chartered Accountants 4. Based on our review conducted as stated In paragraph 3 above, nothing has come to our attention that causC?s us to believe that the accompanying Statement prepared In accordance with the recognition and measurement principles laid down In Ind AS 34 and other recognised accounting principles generally accepted In India has not disclosed the Information required to be disclosed In terms of the Regulations, Including the manner In which It Is to be disclosed, or that ft contains any material misstatement . For MS KA a Assoctates LLP (Formerly known as MS KA a Associates) Chartered _A~tants ICAI Finn ~/Cration No. 105047W /W101187 ~~ ~ . c-;<i ~oc1.4}; Shraddha D Khfvasara lJ ~tt- (('O' Partner "' ~ ~~· Membership No.: 134285 ~\~ ~ UDIN: l~13L\1~S"TFFORN1~0I ~* -kl Place: Pune Date: October 29, 2026 Reil stered Office: 602, Raheja Titanium, Western Express Hlihway, Goregaon (East) , Mumbal-400061, Mahar4'htra, India Tel: •91 22 697"4 0200 I UPIN; ACT-3789 Ahmedab.ld I ~galuru I Chandigarh I Chennal I Coimbatore I Goa I Gu~ram I Hyderabad I Kocttt I l<olkata I Mumbai I Pune www,mska.ln
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PRAJ INDUSTRIES LIMITED CIN • L27101PN198SPLC038031 Regd. Off. "PRAJ TOWER", S.NO. 274 & 27S/ 2, BHUMKAR CHOWK • HINJEWADI ROAD, HINJEWADI, PUNE • 411 OS7 ~ pra1 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 (Rupees in million except per share data} Sr. No. Particulars Quarter ended Half Year ended Year ended 30 September 30 June 30 September 30 September 30 September 31 March 2026 2026 202S 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudit ed ) (Audit ed ) 1 INCOME Revenue from operations 6, 518.694 S,392.480 6,858.601 11,9 11.174 11,961.772 2S,859.347 Other income (Note 3) 222.826 292 .153 107.500 514.980 239.366 719.898 Total Income 6,74 1.520 5,684.6 33 6,966.101 12,426 .1S4 12,201 .138 26,579.245 2 EXPENSES Cost of materials consumed 3,589.877 2,809.939 2,778.797 6,399.816 4,915.417 12,316.68 8 Purchases of stock- in-trade 436 .098 372.394 327.062 808.493 616.174 l, 392.647 Changes in inventories of finlshed goods and work- Jn-progress (3.820) (66 .104) (17.77 1) (69.924) lS.71 8 20.9Sl Employee bene fits expense 687.969 640.808 676 .757 1,328.776 l ,31S.70 2 2,689.233 Finance costs 7. 189 7.938 14.839 lS.127 28.958 61.759 Deprecia t ion and amort isat ion expense 114.444 121.035 136.661 235 .479 267 .867 544.465 Other exoenses 1,282 .860 1,431.717 2.490.749 2,714 .S77 4,21S.97S 7,693.355 Total e1<penses 6 ,114.617 S,317 .727 6,40 7.094 11,432.344 ll,37S .811 24,719.098 3 Profit before exceptional items and tax {l-2) 626.903 366.906 SS9.007 993 .810 82S.327 1,860 .147 4 Exce ptiona l items (Note 4) (238.308) s Profit befor e tax (3•4) 626.903 366.906 SS9.007 993 .810 82S.327 1,621.839 6 Tax expense Current tax 118.107 120.81S 150. 129 238.922 218.5 47 481.046 Deferr ed tax 54.457 (27.311) (7.7S2) 27.146 (9.4S6 ) (64.0S7) Adjustmen ts of tax relating to earlier periods 18.958 18.958 Total tax expen se 172.56 4 112.462 142.3 77 285.026 209.091 416.989 7 Prof it for the period (S·6) 4 S4.339 2S4.444 416 .63 0 708.78 4 616.236 1, 204.850 8 Other comprehens ive Income Items that will not be reclassified to profit and loss: Re-meas u rement of define d benefit plans (24.60S ) (3.326 ) 11.834 (27.931) 20.714 48.920 Income tax effect 6 .193 0.837 (2.97 8) 7.030 (S.213) (12.31 2) Items that will be reclassified to profit or loss Debt instr uments recogn ised through other comprehensiv e income (0.002) 1.446 0.262 Incom e tax effect (0.364) (0.066) Other comprehensive income (18.412 ) (2.489) 8.8S4 (20. 901) 16.S83 36.804 9 Total compr ehensive income for the period (7+8) 43S.927 2Sl.955 42S .484 687 .883 632 .819 l ,241.6S4 Earnings per equity sha re (Nominal value per share Rs. 2 each) Basic 2.47 1.38 2.27 3.86 3.36 6.S5 Diluted 2.47 1.38 2.27 3.86 3.36 6.55 Notes to the standalone financial results: 1 The unaudited sta ndalone fina ncial results have been prepared in accordan ce with Indian Account ing Standards (Ind AS) no tified under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accoun ting Standard Rules), 2015 (as amended) a nd in terms of Regulat ion 33 of SEBI (listing Obligations and Disclosure Requ irements) Regulation s 2015. The above financial results for the quarter and half year ended 30 September 2026 have been subjected to limited review by the stat utory aud itors of the Compa ny and reviewed by the Audit Committee held on 28 October 2026 and approved by the Board of Directo rs of the Company at the meet ing held on 29 Octobe r 2026 . 2 The Company opera tes on ly in one segment, i.e . "Proce ss and Projec t Enginee ring". Hence, ther e are no separate reportable segments as de fined by Ind AS 108 'Oper ating Segments '. 3 Other Income for the quarter ended 30 June 2026 includes Rs 88.9 74 Million representing an insu rance claim in respect of losses arising from a fire incide nt at the Company's Urwade premises in March 2025. Since th e related losses had already been recognized and expensed in the previous year , the cla im has been recognized as income during the quar ter ended 30 Ju ne 2026 upon receipt o f final approval fro m the insurance company. Out of the total claim amount, Rs 65 .000 Million had been received as an advanc e in earl ier years and the balance amount of Rs 23.97 4 Million has been received during quarter e nded 30 September 2026. 4 Effective 21 November 2025, the Government of India consolidated 29 exist ing labou r regu lations lnto four Labour codes, namely, The Code on Wages, 2019, The Industria l Relations Code, 2020, The Code o n Social Security, 2020 and the Occupation a l Safety, Hea lth and Working· Condit ions Code, 20 20, collectively referred to as the 'New Labour Codes' . The New Labour Codes have resulted in a one time materi a l incre ase in provis ion for emp loyee benefits on acco unt of recognition of past service cos ts. Based on the requirements of New Labour Codes and the ICAI clarification, the Company had assessed and accoun ted the estimated incre ,;,ent a l impact of Rs 238.308 Million as Exceptio nal Items in the Stand alone Results for the year ended 31 March 2026. The Compa ny cont inues to monito r the finalisat ion of Central /State Rules and cla rifications from the Government on other aspects o f the Labour Code and would provide appropriate accou ntin g effect as and when such clarifications are issued/rules are not ified. Place : Pune Date : 29 October 2026 ~ MANAGING DIRECTOR DIN: 07585079 ' - SACHIN RADLE JOINT Manag ing Director AND CFO DIN: 00431438
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STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2021 STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILTIES AS AT 30 SEPTEM BER 2026 (Rupees in million) As at As at Particulars 30 September 31 March 2026 2026 (Unaud ited) (Audited) ASSETS Non-curren t assets Property, plant and equ ipment 1,950.490 2,117.140 Capital work-in-progress 9.116 13.588 Right-of-use assets 273.400 424.989 Intangible assets 446.080 485.358 Intan gib le assets under development 1.515 6.304 Financial assets Investments 1,569.894 1,599.875 Loans 3,522.700 2,910.700 Others 450.375 384.431 Deferr ed tax assets (net) 1.460 21.577 Other assets 129.170 94.121 Tota l Non-c urrent assets 8,354.200 8,058.083 Current assets Inventories 2,447.090 2,261.347 Financial assets Investments 3,141.366 4,069.499 Trade receivables 5,008.356 4,363.163 Cash and cash equivale nts 1,076.899 886.386 Other bank balances 343.318 342.723 Others 142.532 121.959 Current tax asset (net) 2.421 Other assets 6,403.961 7,818.745 Asset classifi ed as held for sale 30.164 Tota l Current assets 18,56 5.943 19,893.986 TOTAL ASSETS 26,9 20.143 27,952.069 EQUITY AND LIABILITIES EQUITY Equity share capital 367.626 367.626 Other equity 14,000.120 13,960.154 TOTAL EQUITY 14,367.746 14,3 27.780 LIABILITIES Non-current liabiliti es Financial liabilities Lease Liability 159.339 278 .519 Other fin ancial liabiliti es 4.401 8.111 Provisions 30.000 89.498 Deferred tax liabiliti es (net ) - - Tota l non -curr ent liabilities 193.740 376.128 Curren t liabilit ies Financial liabilities Trade payabl es (i) Total outstanding dues of micro enterprises and small enterpri ses 1,214.141 993.413 (ii) Total outstanding dues of creditors other than micro enterprises 3,028.357 3,933.607 and small enterprises Lease Liability 126.883 155.440 Other financi al liabi lities 349.469 322.828 Other current liabilities 7,333.570 7,563.629 Provisions 306.237 257.618 Current ta x liabil iti es (ne t) I; \. ~ - 21.626 Tota l curren t liabili ties :1 - I \ 12,358.657 13,248.161 ll<ll'" TOTAL LIABILITIES \\ l'.:'. \. , ' 12,552 .397 13,624.289 ,,-_._ --- f TOTAL EQUITY AND LIABILITIES 26,920 .143 27,952 .069
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STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2021 STANDALONE CASH FLOW STATEMENT FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 (Rupees in million) 30 September 30 September Particulars 2026 2025 (Unaudited) (Unaudited) A. Cash flow from operating activities Profit before tax 993.810 825.327 Adjustmen ts for: Loss I (profit) on sale of property, plant and equipment (20.659) 26.386 Gain on redempt ion of investments (net) (FVTPL) (53.657 ) (52.899) Gain on redempt ion of bonds - (0.799) Bad debts I provision for doubtful debts and advances 132.279 113.152 Excess provision/ credito rs written back (including advances) 0.049 0.086 Unrealised foreign exchange (gain) I loss (net) (37.774) (32.575) Depreciation and amortisat ion 235.479 267.867 Interest earned (197.053) (161.554) Unrealised gain on mutu al fund investments (69.971) (4.965) Inte rest on lease Liability 15.127 28.958 Gain on preclosure of lease (6.324) - Provision for anticipa ted losses on revenue contrac ts (43.050) - Provision for slow and non-moving inventory 11.779 8.634 Income on Financial Guarantee (21.254) (15.975) Equity-settled share-based payment transactions 13.812 24.979 Operating profit before working capital changes 952.593 1026.622 Changes in worki ng capita l Decrease/ (Increase) in trade receivables (830 .664) 497.064 Decrease/ (Increase) in invento ries (197 .522) (2336.585) Decrease/ (Increase) in contracts in progress 1022.846 - Decrease/ (Increase) in othe r non-current fina ncial assets (37.718) 8.071 Decrease/ (Increase) in othe r non-curre nt assets 5.033 5.124 Decrease/ (Increase) in curre nt financia l assets 27.796 (53.320) Decrease/ (Increase) in othe r current assets 417.258 (19.037) Increase/ (Decrease) in trade payable s (671.000) 328.8 19 Increase/ (Decrease) in other non-current financia l liabilities (3.710) 0.000 Increase/ (Decrease) in other curren t financial liabilities 26.049 224.863 Increase/ (Decrease) in other curre nt liabilities (230.059) 838.702 Increase/ (Decrease) in long term provi sions (87.428) (18.248) Increase/ (Decrease) in short term provisions 91.668 (54.647) Cash genera ted from operation s 485.142 447.428 Direct taxes paid (including taxes deducted at source), net of refunds (322.009) (347.480) NET CASH FROM OPERATING ACTIVITIES 163.133 99.948 B. Cash flow from investing activitie s Purchase of property , plant and equipment and intangible assets (93 .406) (155.173) Investments: - in mutu al funds (669.966) (1049.952) Sale of investments - in mutua l fund s 1521.727 2870.518 - in debentures and bonds 229.981 266.570 Proceeds from sale of prope rt y, plant and equipment (Net) 169.958 0.955 Int erest received on investments 7.929 87.73 1 Loans Given to Subsidiary (including Interest accrued) (954.471) (579.284) Loans repaid by Subsidiary 485.000 70.000 Investment in fixed deposits (0.595) 399.9 97 Corporate guarantee income 16.092 NET CASH FROM/ (USED) IN INVESTING ACTIVITIES 696.157 1927.454 c. Cash flow from financing activities Dividend paid (661.136) (1104.343) Interest on lease Liability (15.127) (28.958) Income on Financial Guarantee 21.254 Principal payment on Leases (65.854) (121.614) NET CASH FROM/ (USED) IN FINANCING ACTIVITIES (720.863) (1254.915) Net increase/(decrease) in cash and cash equivalents (A+B+C) J . 138.427 772.487 Cash and cash equivalents at the beginning of the year ( --....., 886.386 650.972 Add: effect of exchange rate changes on cash and cash equivalents ' \ - 52.086 34.321 Cash and cash equivalent s at the end of the year , ,, 1076.899 1457.780 \ _./. \ o-· ~. --
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MSKA & Associates LLP (Formerly known as M S K A & Associates) Chartered Accountants Floor 6, Building No. 1 Cereb rum IT Park, Kalyani Nagar Pune 411014, INDIA Independent Auditor's Review Report on consolidated unaudited financial results of Praj Industries Limited for the quarter and year to date September 30, 2026 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Praj Industries Limited 1. We have reviewed the accompanying Statement of consolidated unaudited financial results of Praj Industries Limited (hereinafter refe rred to as 'the Holding Company') which includes its subsidiaries, (the Holding Company and its subsidiaries together referred to as the 'Group') for the quarter ended September 30, 2026 and the year to-date results for the period from April 01, 2026 to September 30, 2026 ('the Statement') attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepare d in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting ' prescribed under Section 133 of the Companies Act, 2013 ('the Act ' ) read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulations . Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India . A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters , and applying analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit . Accordingly, we do not express an audit opinion . We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicable . Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East). Mumbai-40 0063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedaba d I Bengalu ru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai www.mska.in
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MS KA & Associates LLP (Formerly known as M S K A & Associates) Chartered Accountants 4. This Statemen t includes the results of the Holding Company and the following entities: Sr. No Name of the Entity Relationship with the Holding Company 1 Praj Engineering & Infra Limited Subsidiary 2 Praj Hi Purity Systems Limited Subsidiary 3 Praj Far East Co. Limited Subsidiary 4 Praj Americas Inc. Subsidiary 5 Praj Far East Philippine s Limited Subsidiary 6 Praj GenX Limited Subsidiary 7 Praj Projects (Tanzania) Limited Subsidiary 8 Praj Foundation (Section 8 Company, w.e.f. April 30, Entity Controlled by the Holding 2026) company 9 Praj Foundation Trust" Entity Controlled by the Holding company *In the process of closure as per application dated May 18, 2026. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations , including the manner in which it is to be disclosed, or that it contains any material misstatement. (This space is intentionally left blank) Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai·400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune www.mska.in
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MSKA & Associates LLP (Formerly known as M 5 K A & Associates) Chartered Accountants 6. The Statement includes the interim financial information of six subsidiaries/ entities controlled by the holding company which have not been reviewed by their auditors, whose interim finan cial information reflect s total assets of Rs. 319. 924 million as at September 30, 2026 and total revenue of Rs. 348. 547 million and Rs. 636.968 million, total net profit after tax of Rs. 18.907 million and Rs. 18.260 million and total comprehensive income of Rs. 19. 110 million and Rs. 17. 944 million for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026, respectively, and cash flows of Rs. 15.446 for the period from April 01, 2026 to September 30, 2026, as considered in the Statement. This interim financial information have been furnished to us by the Management and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries/entities controlled by the holding company is based solely on such management prepared unaudited interim financial information. According to the information and explanations given to us by the Management, this interim financial information are not material to the Group. Our conclusion is not modified in respect of the above matter with respect to our reliance on the financial information certified by the management. For MS KA & Associates LLP (Formerly known as MS KA & Associates) Chartered A ountants ~ws· tration No. 105047W /W101187 o~ it ' £ f addha D. Khivasara Partner Place: Pune Date: October 29, 2026 Registered Office: 602, Raheja Titanium , Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LlPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Koc hi I Kolkata I Mumbai I Pune www.mska.in
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PRAJ INDUSTRIES LI MITED ~ CIN - L27101PN198SPLC038031 pr~ Regd. Off. "PRAJ TOWER", S.NO. 274 & 27S/ 2, BHUMKAR CHOWK - HINJEWADI ROAD, HINJEWADI, PUNE - 411 OS7 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 (Rupees in million except per shore doto) Sr. Particulars Quar ter ended Half year ended Year end e d No. 30 Septemb er 2026 30June 2026 30 Septemb er 202S 30 September 2026 30 September 202S 31 March 2026 (Unaudi ted ) (Unaudi ted ) (Unaudit ed) (Unaud ited ) (Unaudited) (Audited) 1 INCOME Revenue from oper ations 8.489 .929 7,1S8.211 8.416.336 15,648 .140 14,818.355 31,678.828 Other income (Note 3) 121. 745 199.825 54.112 321.570 139.987 503.549 Total Income 8,611.674 7,3S8.036 8,470.448 15,969.710 14,958.342 32,182.377 2 EXPENSES Cost of materials consumed 4,388.631 3,608.222 3,518.658 7,996.853 6,194.965 14,761.768 Purchases of stock-in-trade 436.096 372.394 327.062 808.490 616.174 1,392 .647 Changes in inventories of finished goods ~nd work-in-pro gress (8.826) (70 417) (7 685) (79.243) I0.230 45.967 Employee benefits expense 891.723 824.406 866.124 1,716.130 1,686.30 4 3,457 .596 Finance costs 34.003 37.307 49.6 12 71.310 100.493 202.652 Depreciation and amortisation expense 250.273 252.527 267.070 502.800 519.186 1,055.645 Other Expenses 2,258.528 2,123 .114 3,153.516 4,381.642 5,438.809 10,503.115 Total exoenses 8,2S0.428 7,147.S53 8,174.357 15,397.982 14,S66.161 31.419 .390 3 Profit before exceptional Items and tax (1-2) 361 .246 210.483 296.091 S71.728 392.181 762.987 4 Exceptional Items- (Note 5) (263.821 ) 5 Profit before tax (3+4) 361.246 210.483 296.091 S71.728 392.181 499.166 6 Tax expense Current tax 124.672 133.670 177.592 258.342 263.155 583.580 Deferred tax 4.900 (58.200) (74.335) (53.300) (117.204) (322.881) Adjustments of tax relating to earlier periods 18.958 18.958 Total tax expense 129.572 94.428 103.257 224.000 145.951 260.699 7 Profit for the peri od (S-6) 231.674 116.0 55 192.834 347.728 246.230 238.467 8 Attributable to : No n-controlling interest 0.092 (0.011) (0.006) 0.081 0.002 0.051 Owners of the Company 231.582 116.066 192.840 347,647 246.228 238.416 9 Other comp reh ensive Income Item s that wlll not be reclassified to profit and loss: Re-measurement of defined benefit plans (25.290) (2.970) 14.501 (28.260) 23.977 56.408 Equity Instruments recognised through other compr ehensive Income 2.807 10. 743 13.550 (18.299) Income tax effect 5.840 (0.510) (2.631) 5.330 (5.000) (11.747) Items that wlll be reclassified to profit or loss: Debt instruments recognised through other comprehensive 1.016 2.464 0.262 Income tax effect (0.256) (0.620 ) (0.066 ) ExchanR.e differences on translation of forei'm operations 0.205 (0.520) 2.623 (0.315) 5.011 6.610 Other comprehen sive Income (16.438) 6.743 15.253 (9.695 ) 25.832 33.168 10 Total compre hen sive Income for the period (7+9) 215.236 122.798 208.087 338.033 272.062 271.635 11 Attributable to : Non-controlling interest 0.092 (0.011) (0.006) 0.081 0.002 0.051 Owners of the Company 215.144 122.809 208.093 337.952 272.060 271.584 Earnings per equity share (Nominal value per share Rs. 2 each) Basic 1.26 0.63 1.05 1.89 1.34 1.30 Diluted 1.26 0.63 1.05 1.89 1.34 1.30
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Notes to the Consolidated fin ancial results: I The Unaudited Consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standard Rules), 201S (as amended ) and in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The above financial results for the quarter and half year ended 30 September 2026 have been subjected to L1m1ted review by the statutory auditors of the Company and reviewed by the Audit Committee held on 28 October 2026 and approved by the Board of Directors of the Company at the meeting held on 29 October 2026. 2 As at 30 September 2026, the Holding Company has following Subsidiaries: a) Praj Engineering and Infra Limited b) Praj Hipu rity systems Limited c) Praj GenX Limited d) Praj Far East Philippines Limited Inc e) Praj Americas Inc. f) Praj Far East Co. Limited, Thailand g) Praj Projects (Tanzania) Limited 3 Other Income includes Rs. 88.974 Million representing an insurance claim in respect of losses arising from a fire incid ent at the Hold ing Company's Urwade premises in March 2025. Since the rel ated losses had already been recognized and expensed in the previous year, the claim has been recognized as income during the quarter ended 30 June 2026 upon receipt of final approval from the insurance company. Out of the total claim amount, Rs. 65.000 Million had been received as an advance in earlier years and the balance amou nt of Rs. 23.97 4 Million has been received during quarter ended 30 September 2026 . 4 The Group operates only in one segment, 1.e. ..Process and Project Engineering ". Hence ther e ar e no separate reportab le segments are denn ed by Ind AS 108" Operat ing Segmenb" Th~ ddditiona l entity wide disclosures to be furnished in accordance with the requirement of Ind AS 108, Operating Segment are as follows: Revenue by geographical market :- Part iculars Quarte r Ended Half year ended Year Ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Within India 5,252.056 5,386.090 4,457.842 10,638.047 8 276.935 19,977. 190 Outside Indi a 3,237.873 1,772. 121 3,958.494 5,010.093 6,541.420 11,701.638 Total revenue from contracts with customers 8,489.929 7,158.2 11 8,416.336 15,648.140 14,818.355 31,678.828 Non-current - non financ ial asset other than deferred tax :- Particulars 30 September 2026 31 M arch 2026 Wi thin India 5,295.823 5,773.245 Outside India 28.941 30.260 5 Effective 21 November 2025, th e Government of India consolidated 29 existing labour regulations into four Labour codes, name ly, The Code on Wages. 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and t he Occupational Safety, Health and Working Conditi ons Code, 2020, collectively referred to as the 'New Labour Codes'. The New Labour Codes have resulted in a one-time material increase in provision for employee benefits on account of recognition of past service costs. Based on the requirements of New Labour Codes and the ICAI clarification, the Group had assessed and accounted the estimated increment al impact of Rs 263.821 Million as Exceptional Items in the Consolidated Results for the year ended 31 March 2026 . The Group continues to monitor the finalisation of Central/State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effec t as and when such clarifications are issued/rules are notified. ~:J? ~ Place : Pune Ashlsh Galkwad Sachln Raole Date : 29 October 2026 Managing Director Joi nt MD and CFO IDIN: 07565079) IDIN: 00431438)
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STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026. STATEMENT OF ASSETS AND LIABILITIES Particulars ASSETS Non-current assets Property, plant and equipment Capital work-in-prog ress Right-of-use assets Goodwill Intangible assets Int angible assets und er development Financial assets Investments Others Deferred tax assets (net) Other non current asset Tota l Non-current assets Current assets Inventories Financial assets Investments Trade receivables Cash and cash equivalen ts Other bank balances Others Curren t tax asset (net) Other current asset Asset classified as held for sale Total Curr ent assets TOTAL ASSETS EQUITY AND LIABILITIES EQUITY Equity share capita l Other equity Sub-total - Total equity attributab le to parent Non-controlling interests TOTAL EQUITY LIABILITIES Non-current liabilit ies Financial liabilities Lease Liability Other financial liabilities Provisions Total non -current liabili ties Current liabilitie s Financial liabilities Trade payables (i) Total outstanding dues of micro enterprises and small enterprises {ii) Total outstanding dues of creditors othe r than micro enterpri ses and sm~ll enterprise s Lease Liability Other financial liabi lit ies Other current liabilities Provisions Current tax liabilities {net) Tota l current liabilit ies TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES 30 September 2026 (Unaudited) 2,825.712 62.415 1,200.180 626.150 449.810 1.515 95.250 460.695 603.850 158.971 6,484 .548 2,880.450 3,141.360 5,894.851 1,525.230 618.340 201.021 59.971 8,928.240 23,249.463 29,734 .011 367.626 12,413.662 12,781.288 1.287 12,782.575 817.115 8.136 47.598 872.849 1,447.484 3,833.806 562.365 588.837 9,220.610 422.135 3.350 16,078.587 16,951.436 29,734.011 (Rupees in million) 31 March 2026 I Audited) 2,943.134 55.606 1,540.266 626.150 489.959 6.304 111.680 422.287 545.211 142.085 6,882.682 2,661.103 4,069.498 5,586.773 1,423.696 613.724 149.513 . 9,171.954 23,676.261 30,558.943 367.626 12,723.629 13,091.255 1.282 13,092.537 1,160.682 7.293 108.645 1,276.620 1,257.359 4,603.785 569.767 403.471 8,988.087 336.358 30.959 16,189.786 17,466.406 30,558.943 ~~ ~~ ~ "'l !:; /I 'Q; f7
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STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026. CONSOLIDATED CASH FLOW STATEMENT FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 (Rupees in million) Particulars 30 September 2026 30 Seotember 2025 (Unaudited) (Unaudited) A Cash flow from operating activities Profi t before tax 571.728 392.181 Adjustments for : Gain on redemption of invest ments (net) (FVTPL) (53.660 ) (52.899) Gain on redemption of bonds - (0.799) Bad Debts I Provision for doubtfu l debt s and advances 221.060 168.729 Excess provision I creditors writ ten back (including advances) 0.050 0.086 Unrealised foreign exchange (gain) I loss (net ) (38.785) {28.763) Provision for slow and non -moving inventory 12.220 7.560 Sundry Balances Written Off 2.710 1.540 Depreciation and amortisat ion 502.800 519.186 Loss/ {profit) on s~l c of property , plant and equipment {20.660) 26.386 Interest earned {41.780) (66.517) Unreali sed gain on mutual fund investments (69.970) (4.965) Intere st on Lease Liability 71.210 101.599 Gain on preclosure of Lease (6.324) - Provision for anticipated losses on revenue contracts 56.080 - Unwinding of security deposit {12.720) {13.510) Inte rest charged 0.100 0.024 Equity-settled share-based payment tran sactions 13.811 24.979 Operating profit before work ing capital changes 1,207.870 1,074.817 Changes in working capita l Decrease/ {Increase) in tra de receivables (587.605) 522.022 Decrease/ {Increase) in inventories (231.S67) {2,576.622) Decrease/ {Increase) in contracts in progre ss (243.833 ) - Decrease/ {Increase) in other non-current financial assets {38.408 ) 15.469 Decrease/ {Increase) in other non-current assets 5.604 5.758 Decrease/ (Increase) in current financial assets-others 10.876 {55.159} Decrease/ {Increase} in other current assets 510.146 (136.005} lncrease/{decrease) in trade payables {567.114) 217.048 lncrease/(decrease} in other current financi al liabi lities 73.742 272.426 lncrease/(decrease} in other current liabilities 232.523 1,119.146 lncrease/{de crease) in long term provisions {89.307) (17.201) lncrease/(decrease) in short term pro visions 29.697 (55.735) Cash generated from operations 312.624 385.964 Direct taxes paid (including taxes deducted at source}, net of refunds (395.369) (431.390) NET CASH FROM OPERATING ACTIVITIES (82.745} (45.426) B Cash flow from inve st ing activities Purchase of property , plant and equipment and intangibl e assets {146.380) {257.570} Investment s: - in mutual funds {669.966 ) (1,049.948) Sale of investme nts - in mutual fund s 1,521.734 2,870.518 - in debenture s & bonds and corporate FDs 229.981 266.567 Proceeds from sale of property , plant and equipment {Net) 169.960 0.955 Interest received on investm ents 22.116 64.600 {Investment ) / redemptio n in fixed deposits (4.026) 331.662 NET CASH FROM/ (USED) IN INVESTING ACTIVITIES 1,123.419 2,226 .784 c Cash flo w from financing activities Dividend paid (661.730} {1,104.344} Interest on Lease Liability (71.210) (101.599) Principal payment on leases (263.584) (260.645) Interest paid (0.100) (0.024) NET CASH FROM / (USED} IN FINANCING ACTIVITIES (996.624) (1,466 .612) Net incre ase/ (decrea se} in cash and cash equivalents (A+B+C) 44.050 714.746 Cash and cash equiva lents at the beginning of the year 1,424.910 1,259.191 Add : effect of exchange rate changes on cash and cash equiva lents 56.270 34.32 1 Cash and cash equivalents at the end of the year 1,525 .230 2,008.258