Q2 2026 Praj Industries Ltd Earnings Call Transcript
Key Points
- Praj Industries Ltd (BOM:522205) reported a consolidated income from operations of INR8.42 billion for Q2 FY26, showing an increase from INR8.16 billion in the same quarter last year.
- The company is executing its first low carbon ethanol project in the USA, expected to be commissioned by the end of the fiscal year.
- Praj Industries Ltd (BOM:522205) has a strong order backlog of INR44.2 billion as of September 30, 2025, with 65% of orders from the domestic market.
- The company has successfully produced Sustainable Aviation Fuel (SAF) from ethanol at its demo plant, marking a significant milestone in its bioenergy segment.
- There is a healthy pipeline of inquiries for compressed biogas projects, particularly those based on Napier grass, indicating potential future growth.
- The company faced challenges in the domestic ethanol segment due to headwinds and a slowdown in greenfield projects.
- Execution cycles for existing projects are being extended due to funding challenges, impacting project timelines.
- Praj Industries Ltd (BOM:522205) reported a decrease in profit before tax, from INR744.4 million in Q2 FY25 to INR296.1 million in Q2 FY26.
- The effective tax rate for the consolidated financials is high, at 35% for Q2 FY26 and 37% for H1 FY26, impacting net profitability.
- There are delays in achieving full capacity utilization at the GenX facility, pushing expected timelines by a year to FY28.
Ladies and gentlemen, good day and welcome to the Praj Industries Limited's Q2 and H1FI26 earnings conference call.
As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded.
I now hand the contents over to Ms. Poorwangi Jan from Valoram Advisors.
Thank you and over to you, ma'am.
Good afternoon everyone and a warm welcome to you all. My name is Parvani Jan from Valaram Advisors. We represent the investor relations of Praj Industries Limited.
On behalf of the company, I would like to thank you all for participating in the company's earnings conference call, for the second quarter and half year ended 2026. Before we begin, let me mention a short cautionary statement.
Some of the statements made in today's earnings call may be
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