Prakash Industries Limited (PRAKASH)
₹126.91 +8.18% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Prakash Industries' revenue was ₹1,032 Cr (-0.5% year on year, +12.2% on the previous quarter), and net profit ₹71.3 Cr (-21.7% year on year); the operating margin was 14.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,032 | -0.5% | +12.2% |
| Operating profit | ₹147 | +6.8% | +3.0% |
| Net profit | ₹71.3 | -21.7% | -23.4% |
| EPS (₹) | 3.98 | -22.0% | -23.6% |
| Operating margin | 14.3% | — | — |
PRAKASH delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 40.34% of the PRAKASH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.75%. The price rose 8.18% on unusually low delivery, so more of the move than usual was intraday trading. It traded 4.8 times its average daily volume.
Delivery in the last 5 sessions: 44.9% · 45.5% · 57.7% · 55.2% · 40.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Prakash Industries Limited submitted its Scrutinizer's Report for the 45th Annual General Meeting held on September 30, 2026. Shareholders approved all 5 ordinary resolutions with requisite majorities, including the adoption of FY2026 audited financial statements and payment of a ₹1.80 per share dividend (18% on ₹10 face value) with 99.996% votes in favor. Other approvals included the re-appointment of Director Kanha Agarwal and the appointment of M/s. SGAJ & Associates as Statutory Auditors.
- Resolution approving ₹1.80 per equity share dividend (18%) passed with 99.996% votes in favor
- Adoption of FY2026 audited financial statements passed with 92.963% votes in favor and 7.037% against
- Re-appointment of Director Kanha Agarwal passed with 94.038% votes in favor
- Appointment of M/s SGAJ & Associates as Statutory Auditors passed with 99.997% votes in favor
- Total voting participation across resolutions stood at approximately 7.75-7.76 crore shares
Prakash Industries submitted the proceedings of its 45th Annual General Meeting held on September 30, 2026. Key agenda items deliberated included the approval of an 18% dividend (₹1.80 per equity share of ₹10 face value) for FY2025-26 and the adoption of audited financial statements. Operationally, management highlighted reaching extraction of ~1 MTPA of coal from the Bhaskarpara coal mine. The company had 93,256 shareholders as of the record date of September 23, 2026, with consolidated voting results to follow.
- Proposed dividend of ₹1.80 per equity share of ₹10 each (18%) deliberated for FY2025-26
- Company highlighted milestone extraction of ~1 MTPA of coal from the Bhaskarpara coal mine
- Total shareholder count reported at 93,256 as of the record date on September 23, 2026
- 103 members attended the AGM via Video Conferencing (1 promoter group, 102 public)
Prakash Industries has received the Consent to Operate (CTO) from the Chhattisgarh Environment Conservation Board (CECB) on September 10, 2026. The approval enables the company to expand its Bhaskarpara Coal Mine production capacity from 1.0 MTPA to 1.2 MTPA, marking a 20% increase. This CTO follows the Environmental Clearance previously granted by the Ministry of Environment, Forest and Climate Change on June 12, 2026.
- Received Consent to Operate (CTO) from CECB via letter dated September 10, 2026
- Bhaskarpara Coal Mine production capacity expanded from 1.0 MTPA to 1.2 MTPA
- Expansion represents a 20% (0.2 MTPA) increase in annual coal extraction capacity
- Follows Environmental Clearance granted by MoEFCC on June 12, 2026
Prakash Industries Limited has fixed Wednesday, September 16, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹1.80 per equity share (18% of ₹10 face value) for FY2025–26. The dividend was previously recommended by the Board on May 22, 2026, and is subject to shareholder approval at the 45th Annual General Meeting (AGM) scheduled for September 30, 2026. Remote e-voting will run from September 27 to September 29, 2026, with a cut-off date of September 23, 2026.
- Final dividend of ₹1.80 per equity share (18% on ₹10 face value) for FY2025–26
- Record date fixed as September 16, 2026 for dividend entitlement
- 45th Annual General Meeting scheduled for September 30, 2026 via video conferencing
- Remote e-voting window open from September 27 to September 29, 2026 with cut-off on September 23, 2026
Prakash Industries Limited has scheduled its 45th Annual General Meeting (AGM) for September 30, 2026, via video conferencing. The company has fixed September 16, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹1.80 per equity share of face value ₹10 (18%) for FY2025–26. Remote e-voting will be available from September 27 to September 29, 2026, based on the cut-off date of September 23, 2026.
- Final dividend of ₹1.80 per equity share (18% on face value of ₹10) recommended for FY2025–26
- Record date for dividend entitlement established as September 16, 2026
- 45th AGM to be held on September 30, 2026, at 12:30 PM IST via VC/OAVM
- Remote e-voting window runs from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
- Voting eligibility cut-off date fixed for September 23, 2026
Prakash Industries reported a 22% YoY decline in Net Profit to ₹71.27 Cr for Q1 FY2027, down from ₹91.40 Cr in the previous year. This decline is primarily attributed to the company opting for a new tax regime effective April 1, 2026, which resulted in the loss of tax exemptions under Section 80-IA. Revenue remained nearly flat YoY at ₹1,032 Cr, though it showed a healthy sequential recovery of 12.2% from Q4 FY2026. The board also recommended appointing SGAJ & Associates as new statutory auditors for a five-year term.
- Revenue from operations stood at ₹1,032 Cr, a marginal 0.5% decline compared to ₹1,037 Cr in Q1 FY2026.
- Net Profit (PAT) decreased by 22% YoY to ₹71.27 Cr due to the expiration of Section 80-IA tax benefits.
- Sequential revenue growth of 12.2% recorded against ₹919.87 Cr in the preceding quarter (Q4 FY2026).
- SGAJ & Associates proposed as Statutory Auditors for a 5-year term starting from the 45th AGM on September 30, 2026.
- Formalized 10 Senior Management Personnel (SMP) appointments across key divisions including Mining, Steel, and Windmills.
Prakash Industries reported a flat YoY revenue of ₹1,032 Cr for Q1 FY2027, while Profit After Tax (PAT) declined by 22% YoY to ₹71.27 Cr. The profit contraction is primarily due to the company opting for the new tax regime effective April 1, 2026, which resulted in the loss of tax exemptions under Section 80-IA. Operationally, total expenses rose to ₹945.94 Cr, driven by a 40% QoQ increase in 'Other Expenses'. The board also recommended the appointment of SGAJ & Associates as new statutory auditors for a 5-year term starting September 2026.
- Revenue from operations stood at ₹1,03,200 lakhs (₹1,032 Cr) for the quarter ended June 30, 2026.
- Net Profit (PAT) dropped to ₹7,127 lakhs from ₹9,140 lakhs in the corresponding previous year quarter.
- Total expenses increased to ₹94,594 lakhs, with cost of materials consumed accounting for ₹59,904 lakhs.
- Company transitioned to the new tax regime under the Income Tax Act, 2025, effective April 1, 2026.
- Proposed appointment of M/s. SGAJ & Associates as Statutory Auditors for a 5-year term until FY2031-32.
Prakash Industries reported flat YoY revenue of ~₹1032 Cr for Q1 FY2027, while EBITDA grew 6.9% to ~₹154 Cr. Profit After Tax (PAT) declined 22% to ~₹71 Cr, primarily due to the company transitioning to a new tax regime and losing Section 80-IA exemptions. Operationally, the company extracted 3.3 lac MT of coal from its Bhaskarpara mine, tracking toward an upgraded annual target of 1.2 Mn tonnes. The company's backward integration remains its core strength, supported by a low Debt/Equity ratio of 0.14.
- Net Sales remained stable at ~₹1032 Cr compared to ~₹1037 Cr in the corresponding previous year quarter.
- EBITDA margins improved by 100 basis points to 14.9% from 13.9% YoY.
- PAT decreased to ~₹71 Cr from ~₹91 Cr due to the adoption of the new tax regime effective April 1, 2026.
- Coal extraction reached ~3.3 lac MT in Q1, supported by a capacity expansion approval to 1.2 MTPA.
- Environmental Clearance for increasing coal production from 1.0 MTPA to 1.2 MTPA was granted on June 11, 2026.
Prakash Industries reported a flat top-line for Q1 FY2027, with revenue from operations at ₹1,032 cr compared to ₹1,037 cr in the year-ago period. Net profit (PAT) declined by 22% YoY to ₹71.27 cr, primarily due to the company opting for the new tax regime effective April 1, 2026, which resulted in the loss of Section 80-IA tax exemptions. The board also recommended the appointment of SGAJ & Associates as new statutory auditors for a five-year term and formally designated 10 officials as Senior Management Personnel to oversee key mining and plant operations.
- Revenue from operations stood at ₹1,032 cr for Q1 FY2027, a marginal decline from ₹1,037 cr in Q1 FY2026.
- Net Profit (PAT) fell to ₹71.27 cr from ₹91.40 cr in the corresponding quarter of the previous year.
- Earnings Per Share (EPS) decreased to ₹3.98 from ₹5.10 YoY.
- Transitioned to the new tax regime under the Income Tax Act effective April 1, 2026, ending Section 80-IA benefits.
- Recommended SGAJ & Associates as Statutory Auditors for a 5-year term ending in FY2031-32.
Prakash Industries has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended June 30, 2026. The company's Registrar and Transfer Agent, Skyline Financial Services, confirmed that all physical share certificates received for dematerialization were processed and cancelled. The depository's name was substituted in the records as the registered owner within the required 15-day window. This is a routine administrative filing with no impact on the company's financial performance.
- Compliance certificate issued for the quarter ended June 30, 2026
- Dematerialization requests processed and records updated within 15 days
- Registrar Skyline Financial Services confirmed mutilation and cancellation of physical certificates
Prakash Industries has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026, as required by SEBI Insider Trading regulations. The company confirmed that it maintained a non-tamperable internal database with an audit trail for tracking Unpublished Price Sensitive Information (UPSI). During the quarter, 1 specific UPSI event was identified and successfully recorded in the system. No non-compliances were reported for the period, indicating adherence to standard governance protocols.
- 1 UPSI event was required to be captured and was successfully recorded during the quarter ended June 2026
- The Structured Digital Database (SDD) is maintained internally with a non-tamperable audit trail
- The system is capable of maintaining records for a mandatory period of 8 years
- Zero non-compliances were observed or reported for the previous quarter
Prakash Industries Limited has announced the closure of its trading window for all insiders starting July 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, preceding the consideration of financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the Board Meeting where these results are approved. Investors should note this is a procedural filing and does not reflect changes in business fundamentals.
- Trading window closure effective from July 1, 2026
- Closure is for the consideration of financial results for the period ended 31st June, 2026
- Window to remain closed until 48 hours after the Board Meeting
- Filing made in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
Prakash Industries Limited has received Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change to expand its Bhaskarpara Coal Mine. The production capacity will increase from 1.0 MTPA to 1.2 MTPA, marking a 20% increase in output potential. This regulatory approval, granted on June 12, 2026, is a significant step in strengthening the company's backward integration. The expansion is expected to improve raw material security and potentially lower production costs for its steel operations.
- Environmental Clearance received from MoEFCC on June 12, 2026.
- Coal production capacity at Bhaskarpara mine increased from 1.0 MTPA to 1.2 MTPA.
- Represents a 20% capacity expansion for the captive coal source.
- Enhances raw material security and supports vertical integration for the company.
Prakash Industries reported a steady performance for Q4FY2026 with Net Sales growing 9% YoY to ₹920 Crores and EBITDA rising 7% to ₹149 Crores. The company achieved a full-year Profit After Tax (PAT) of ₹333 Crores and has recommended a dividend of ₹1.80 per share. A significant operational milestone was reached with the extraction of 1 million MT of coal from the Bhaskarpara mine in FY2026. Furthermore, the company is moving to expand its mining capacity by 20% to 1.2 million MT per annum, which could further improve margins through backward integration.
- Q4 Net Sales grew 9% YoY to ₹920 Crores; EBITDA increased 7% to ₹149 Crores.
- Full-year FY2026 PAT reached ₹333 Crores on total Net Sales of ₹3,479 Crores.
- Board recommended a dividend of 18% (₹1.80 per equity share of ₹10 face value).
- Achieved annual target of 1 million MT coal extraction from Bhaskarpara Coal Mine.
- Initiated regulatory process to enhance mining capacity from 1 Mn MT to 1.2 Mn MT per annum.
Prakash Industries has recommended a final dividend of ₹1.80 per share for FY2026. The company's annual performance for FY2026 saw a decline, with revenue falling 13.3% to ₹3,47,866 lakhs and PAT decreasing to ₹33,314 lakhs from ₹35,545 lakhs in FY2025. However, the fourth quarter showed signs of recovery, with Q4 revenue growing 8.9% year-on-year to ₹91,987 lakhs. Investors should note a qualified opinion from auditors regarding the accounting treatment of deferred tax liabilities.
- Recommended final dividend of ₹1.80 per equity share (18% of face value).
- Annual Revenue from operations decreased to ₹3,47,866 lakhs in FY26 from ₹4,01,435 lakhs in FY25.
- Full-year Profit After Tax (PAT) stood at ₹33,314 lakhs with an EPS of ₹18.60.
- Q4 FY26 Revenue grew to ₹91,987 lakhs compared to ₹84,464 lakhs in Q4 FY25.
- Auditor qualification: ₹2,872 lakhs in deferred tax was adjusted against Securities Premium instead of P&L, which would have otherwise lowered reported profit.
Financial Performance
Revenue Growth by Segment
Total revenue for Q2 FY2026 was INR 723.16 Cr, representing a 32.8% decline compared to INR 1,076.90 Cr in Q2 FY2025. For H1 FY2026, net sales reached INR 1,760 Cr. The decline is attributed to an extended monsoon season affecting construction activities.
Geographic Revenue Split
Not specifically disclosed in available documents, though the company operates primarily in India with a registered office in Hissar, Haryana and corporate office in New Delhi.
Profitability Margins
Net Profit Margin for Q2 FY2026 stood at 8.57% (INR 62 Cr profit on INR 723 Cr sales). Operating Profit Margin for the same period was 14.9% (INR 108 Cr). H1 FY2026 Profit After Tax was INR 153 Cr.
EBITDA Margin
Operating Profit for Q2 FY2026 was INR 108 Cr, a 29.4% decrease from INR 153 Cr in Q2 FY2025. The margin remained resilient despite a significant revenue drop due to cost management in material consumption.
Capital Expenditure
The company is investing in the development of the Bhaskarpara coal mine, which extracted 1.97 lac MT of coal in Q2 FY2026. Specific planned INR Cr expenditure for future expansion is not detailed in the quarterly results.
Credit Rating & Borrowing
The company holds a 'CARE BB; Stable' rating as of February 2024. Finance costs for Q2 FY2026 were INR 10.34 Cr, representing approximately 1.4% of total revenue, down slightly from INR 11.19 Cr YoY.
Operational Drivers
Raw Materials
Coal is a primary raw material, with 1.97 lac MT extracted from the Bhaskarpara mine this quarter. Cost of materials consumed was INR 415.20 Cr, representing 57.4% of total revenue in Q2 FY2026.
Import Sources
The company focuses on backward integration through domestic captive mines like Bhaskarpara to mitigate import dependencies.
Key Suppliers
Not specifically named in the documents, though the company utilizes its own captive coal mining resources for a portion of its requirements.
Capacity Expansion
The company is sensitive to sales volumes, with positive rating triggers set at 12 lakh tons and negative triggers below 8 lakh tons. Current extraction at Bhaskarpara is 1.97 lac MT per quarter.
Raw Material Costs
Cost of materials consumed decreased by 47.5% YoY to INR 415.20 Cr in Q2 FY2026 from INR 790.53 Cr, reflecting lower production volumes and increased captive coal usage.
Manufacturing Efficiency
The company utilizes an independent professional firm for internal audits to monitor compliance and operational effectiveness, flagging budget variances to senior management.
Logistics & Distribution
Distribution is heavily impacted by infrastructure activity levels; the company expects a boost in the ensuing quarters as construction and infra activities resume post-monsoon.
Strategic Growth
Expected Growth Rate
12%
Growth Strategy
Growth will be driven by the resumption of infrastructure projects following the INR 11.5 lakh Cr capital expenditure allocation in the Union Budget 2025. The company is also leveraging GST reforms and the operationalization of captive coal mines to improve margins and competitive pricing.
Products & Services
Steel products and Coal (extracted from captive mines).
Brand Portfolio
Prakash Industries.
New Products/Services
Not specifically detailed in the current quarterly report, though the focus remains on scaling coal extraction volumes.
Market Expansion
The company is positioning itself to capture demand from the central government's massive infrastructure push (INR 11.5 lakh Cr budget).
Market Share & Ranking
The domestic steel industry reached 152 million tonnes in FY2025; Prakash is a mid-tier integrated player within this landscape.
External Factors
Industry Trends
The domestic steel industry grew 5% in production and 12% in demand during FY2025. The trend is shifting toward integrated players who control their own raw material sources (coal/iron ore) to maintain margins.
Competitive Landscape
Operates in a highly competitive and cyclic industry, competing with both large-scale domestic producers and cheap international imports.
Competitive Moat
Moat is built on backward integration (captive coal mines) and strategic location of manufacturing plants, providing a cost advantage over non-integrated competitors.
Macro Economic Sensitivity
Highly sensitive to government infrastructure spending and capital expenditure cycles. The FY2025 budget allocation of INR 11.5 lakh Cr is a primary macro driver.
Consumer Behavior
Demand is driven by B2B sectors including infrastructure, construction, general engineering, and automotive.
Geopolitical Risks
Susceptibility to global steel price volatility and the inflow of cheap international imports which can disrupt domestic market stability.
Regulatory & Governance
Industry Regulations
Operations are subject to GST reforms and environmental pollution norms. The company notes that no fines or penalties were taken by regulators regarding corruption or conflicts of interest in the previous year.
Environmental Compliance
The company implements training for workers in high-risk areas and enforces a 100% ban on child labor to meet ESG and safety standards.
Taxation Policy Impact
The company adjusted a deferred tax liability of INR 11.70 Cr for H1 FY2026 against the Securities Premium Account following a court order, rather than the P&L.
Legal Contingencies
The company faces ongoing CBI cases and disputes regarding the non-payment of interest and principal to Foreign Currency Convertible Bond (FCCB) holders.
Risk Analysis
Key Uncertainties
Volatility in raw material prices and the 'cyclical nature' of the steel industry are primary risks. The outcome of ongoing CBI cases could also have a material impact.
Geographic Concentration Risk
Manufacturing plants are strategically located, but the registered office is in Hissar, suggesting a concentration in Northern India.
Third Party Dependencies
Dependency on the government's infrastructure spending timeline and the successful continued development of the Bhaskarpara coal mine.
Technology Obsolescence Risk
The company monitors internal processes through an independent audit team to ensure adherence to modern business standards.
Credit & Counterparty Risk
The company has faced audit qualifications in the past; improving the quality of accounts and resolving the FCCB issue are key for credit profile improvement.
