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Praxis Home Retail Limited (PRAXIS)

₹3.68 -2.65% last close, 16 Oct

📊 NSE: PRAXIS 🏢 Speciality Retail 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 05 Nov 2026 (board meeting)

Praxis Home Retail Limited's board meets on 5 Nov 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Praxis Home's revenue was ₹26.6 Cr (+10.8% year on year, +6.4% on the previous quarter), and net profit ₹-11.1 Cr (a smaller loss than a year earlier); the operating margin was -7.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹26.6	+10.8%	+6.4%
Operating profit	₹-2.0	loss narrowed	loss narrowed
Net profit	₹-11.1	loss narrowed	loss narrowed
EPS (₹)	-0.60	loss narrowed	loss narrowed
Operating margin	-7.6%	—	—

Full quarterly financials → Results calendar →

PRAXIS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 45.85% of the PRAXIS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 82.6%. That is lower than usual for this stock. Turnover was only ₹8 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 9 sessions in about the last 20.

45.85%Delivery, 16 Oct

82.6%Own 20-session average

1.3×Volume vs its average

₹3.68NSE close · -2.65%

Delivery in the last 5 sessions: 60.2% · 79.6% · 82.2% · 88.9% · 45.9%

Delivery across the market →Circuit stocks →

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

GSTAT Directs Praxis Home Retail to Deposit ₹3.68 Cr Plus 18% Interest in Anti-Profiteering Case

🔴 NEGATIVE ⭐ 7/10

LEGAL 📅 15 Oct 2026, 04:42 PM

The GST Appellate Tribunal (GSTAT), Delhi has ordered Praxis Home Retail to deposit a profiteered amount of ₹3,67,88,027 along with 18% interest. The case relates to allegations of not passing on GST rate reductions (28% to 18%) between November 15, 2017, and September 30, 2019. Out of the total amount, ₹21,200 is payable to an identifiable complainant, while ₹3.68 crore must be deposited into Consumer Welfare Funds. This creates an immediate cash liability for a company already dealing with negative net worth (₹-77 crore) and severe liquidity stress.

Profiteered amount determined at ₹3,67,88,027 with applicable interest of 18%
₹21,200 plus interest to be refunded to the complainant; balance ₹3,67,66,827 plus interest to Consumer Welfare Funds
Pertains to GST rate cuts from 28% to 18% on goods including modular kitchens between Nov 15, 2017, and Sep 30, 2019
No penalty imposed under Section 171(3A) as the period predates the provision; company evaluating legal appeals

💡 Track whether the company files an appeal or obtains a stay against the GSTAT order, and monitor how this cash liability impacts its strained liquidity position.

Praxis Home Retail Submits Reg 74(5) Depository Compliance for Q2 Ended Sep 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 05:35 PM

Praxis Home Retail Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate was issued by Registrar & Share Transfer Agent MUFG Intime India Private Limited (formerly Link Intime India Private Limited). The RTA confirmed that securities received for dematerialisation during the quarter were processed, verified, and cancelled within prescribed regulatory timelines. This filing is entirely procedural and has no impact on business operations or financials.

Compliance certificate filed under Regulation 74(5) of SEBI Regulations, 2018
Covers the quarter ended September 30, 2026
Issued by RTA MUFG Intime India Private Limited on October 07, 2026
Confirms demat requests were verified, cancelled, and updated within prescribed timelines

💡 No action is required as this is a standard quarterly administrative filing; track upcoming Q2 financial results for fundamental business updates.

Praxis Secures ₹2.5 Cr Unsecured Loan at 13% Interest; Cumulative Borrowing Reaches ₹6 Cr

🟡 NEUTRAL ⭐ 5/10

FUNDRAISE 📅 29 Sep 2026, 06:12 PM

Praxis Home Retail Limited has entered into a loan agreement on September 29, 2026, to borrow an unsecured inter-corporate loan of up to ₹2.50 crore from Matrix Park Private Limited. The loan carries an interest rate of 13% per annum for a tenure of 6 months and is meant for working capital and general corporate purposes. This follows a previous ₹3.50 crore borrowing on September 25, 2026, bringing aggregate borrowings from Matrix Park to ₹6.00 crore. The borrowing reflects tight liquidity conditions given Praxis's existing debt of ₹189 crore and negative net worth of ₹-77 crore.

Loan amount of up to ₹2.50 crore to be availed on or before March 31, 2027
Carries an interest rate of 13% per annum for a 6-month tenure
Lender is Matrix Park Private Limited; nature of loan is unsecured and inter-corporate
Total cumulative borrowings from Matrix Park reach ₹6.00 crore following a prior ₹3.50 crore loan on September 25, 2026

💡 Track whether these short-term borrowings provide sufficient liquidity to normalize store inventory procurement and monitor debt service ability in upcoming quarterly filings.

Praxis Home Retail Borrows ₹3.50 Cr Unsecured Loan at 13% p.a. for Working Capital

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 25 Sep 2026, 06:11 PM

Praxis Home Retail Limited has entered into a loan agreement on September 25, 2026, with Matrix Park Private Limited to secure an unsecured inter-corporate loan of up to ₹3.50 crore. The loan carries an interest rate of 13% per annum for an initial tenure of 6 months, aimed at funding working capital and general corporate requirements. The ₹3.50 crore borrowing represents approximately 13.0% of the company's TTM revenue of ₹27 crore. With an existing debt burden of ₹189 crore and a negative net worth of ₹-77 crore, the company continues to rely on high-cost short-term debt to bridge severe operational liquidity constraints.

Entered loan agreement to borrow an unsecured loan of up to ₹3.50 crore from Matrix Park Private Limited
Loan interest rate fixed at 13% per annum for a 6-month tenure (extendable by mutual agreement)
Borrowing can be drawn down in one or more tranches on or before March 31, 2027
Sanctioned, availed, and outstanding amount stated at ₹3.50 crore on date of agreement (September 25, 2026)

💡 Monitor whether this short-term capital helps ease severe inventory shortages and check upcoming quarterly results for working capital improvements versus rising interest expenses.

Praxis Home Retail Shareholders Approve Appointment of Three Independent Directors

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 25 Sep 2026, 05:50 PM

Praxis Home Retail announced that shareholders approved the appointment of three Independent Directors at its Annual General Meeting on September 25, 2026. Mr. Rahul Gambhir and Mr. Chetranda Somanna Muddaiah have been appointed for a 5-year term from June 13, 2026, to June 12, 2031. Mr. Mahesh Meenakshisundaram was appointed for a 5-year term from July 03, 2026, to July 02, 2031. The appointments come amid severe operational stress, with the company reporting a negative net worth of Rs -77 Cr and TTM PAT of Rs -11 Cr.

Shareholders approved the appointment of 3 Independent Directors at the AGM on September 25, 2026
Mr. Rahul Gambhir appointed for a 5-year term from June 13, 2026, to June 12, 2031
Mr. Chetranda Somanna Muddaiah appointed for a 5-year term from June 13, 2026, to June 12, 2031
Mr. Mahesh Meenakshisundaram appointed for a 5-year term from July 03, 2026, to July 02, 2031

💡 Monitor upcoming quarterly financial filings to evaluate whether corporate governance changes accompany operational turnaround and liquidity stabilization efforts.

Praxis Q1 FY27 Presentation: Revenue Rises 13% YoY to ₹26.6 Cr, Net Loss Narrows to ₹11.1 Cr

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 24 Sep 2026, 07:07 PM

Praxis Home Retail released its Q1 FY27 investor presentation showing revenue from operations grew 13% YoY and 8% QoQ to ₹2,660 lakh (₹26.60 cr). The company's EBITDA loss narrowed significantly by 88% YoY to ₹69 lakh (-3% margin vs -24% in Q1 FY26), while net loss after exceptional items narrowed to ₹1,106 lakh (₹11.06 cr) from ₹1,647 lakh a year ago. Operational metrics showed positive momentum with like-for-like (LFL) retail sales up 33.3% YoY and revenue per sq ft per month growing 42.3% YoY across its store network. However, the balance sheet remains heavily leveraged with debt at ₹189 cr against negative net worth of ₹-77 cr.

Revenue from operations reached ₹2,660 lakh, expanding 8% QoQ and 13% YoY
EBITDA losses narrowed by 88% YoY to ₹69 lakh from ₹595 lakh in Q1 FY26
Gross margin contracted 250 bps QoQ to 43.2%, impacted by scrap sales following store closures and warehouse shifts
Retail like-for-like (LFL) sales jumped 33.3% YoY, led by a 59% YoY increase in the Homeware category
Finance costs remained high at ₹562 lakh, outpacing quarterly gross profit improvement

💡 Track whether narrowing EBITDA losses translate into operating cash flows to service ₹189 cr debt and address severe negative net worth.

Praxis Home Retail: Trading Window Closes from October 1, 2026 for Q2 FY27 Results

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 21 Sep 2026, 06:06 PM

Praxis Home Retail has announced the closure of its trading window starting Thursday, October 1, 2026, pursuant to SEBI Insider Trading regulations. The window will remain closed for promoters, directors, key managerial personnel, and designated persons until 48 hours after the declaration of the un-audited financial results for the quarter and half-year ended September 30, 2026. The specific date for the upcoming Board Meeting to consider the results will be announced separately.

Trading window closes effective Thursday, October 1, 2026
Applies to promoters, directors, KMPs, designated persons, and specified connected persons
Reopens 48 hours after announcement of Q2/H1 financial results ended September 30, 2026
Board meeting date for result approval to be announced in due course

💡 Track the upcoming corporate announcement regarding the exact board meeting date and subsequent release of Q2 FY27 financial results.

Praxis Home Retail Clarifies Q1 FY27 Results; Auditor Flags Going Concern and IBC Notice

🔴 NEGATIVE ⭐ 4/10

REGULATORY 📅 21 Sep 2026, 01:37 PM

Praxis Home Retail submitted a clarification to NSE regarding its Q1 FY27 (quarter ended June 30, 2026) financial results, re-uploading machine-readable files and correcting inadvertent '0' entries in XBRL for share capital and EPS. The enclosed results report revenue from operations of ₹26.60 cr (₹2,660.07 lakhs) and a net loss of ₹11.06 cr (₹1,106.49 lakhs) with negative basic EPS of ₹0.60. Importantly, the statutory auditor highlighted material uncertainty regarding going concern, pointing out a quarterly cash loss of ₹8.95 cr (₹894.52 lakhs), negative net worth, current liabilities exceeding current assets by ₹69.11 cr (₹6,910.97 lakhs), and an IBC notice received from an operational creditor.

Clarified filing rectifying XBRL reporting where Equity Share Capital (₹9,290.61 lakhs) and EPS (-₹0.60) were mistakenly entered as '0'
Revenue from operations stood at ₹2,660.07 lakhs (₹26.60 cr) for the quarter ended June 30, 2026, compared to ₹2,350.39 lakhs in the year-ago period
Net loss for the quarter ended June 30, 2026 stood at ₹1,106.49 lakhs (₹11.06 cr)
Auditor emphasized going concern risks: Q1 cash loss of ₹894.52 lakhs and current liabilities exceeding current assets by ₹6,910.97 lakhs
Company acknowledged receipt of a notice under the Insolvency and Bankruptcy Code (IBC), 2016 from an operational creditor

💡 Track proceedings regarding the operational creditor's IBC notice and monitor any management steps to address liquidity constraints and negative net worth.

Praxis Resubmits Legible Q1 FY27 Results; Reports Net Loss of ₹11.06 Cr Amid Going Concern Warning

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Sep 2026, 05:02 PM

Praxis Home Retail submitted a legible and machine-readable copy of its Q1 FY27 (quarter ended June 30, 2026) financial results following a directive from the NSE. For the quarter, revenue from operations stood at ₹26.60 crore compared to ₹23.50 crore in the year-ago period, while net loss was ₹11.06 crore against a loss of ₹16.47 crore in Q1 FY26. Statutory auditors highlighted a material uncertainty regarding going concern, citing a quarterly cash loss of ₹8.95 crore, negative net worth, working capital deficit of ₹69.11 crore, and an ongoing IBC notice from an operational creditor.

Resubmission of Q1 FY27 financial results in machine-readable format pursuant to NSE email dated September 17, 2026
Revenue from operations reported at ₹2,660.07 lakhs (₹26.60 crore) vs ₹2,350.39 lakhs in Q1 FY26
Net loss for the quarter ended June 30, 2026 stood at ₹1,106.49 lakhs (₹11.06 crore)
Auditor noted current liabilities exceeded current assets by ₹6,910.97 lakhs (₹69.11 crore) with negative net worth
Company incurred a cash loss of ₹894.52 lakhs during the quarter and faces ongoing IBC proceedings

💡 Track progress on operational creditor dispute hearings at the NCLT and review whether future quarterly filings show improvements in cash burn or liquidity.

Praxis Home Retail approves ₹55 Cr Rights Issue to raise capital

🔵 WATCH ⭐ 9/10

FUNDRAISE 📅 11 Sep 2026, 01:10 PM

The Board of Directors of Praxis Home Retail Limited has approved raising funds up to ₹55.00 crore (₹5,500.00 lakhs) via a Rights Issue of equity shares of face value ₹5 each. Relative to the company's current market cap of approximately ₹87 crore, the proposed issue size represents around 63% of market cap. The company operates under severe liquidity constraints with negative net worth (-₹77 crore) and debt of ₹189 crore. A dedicated Committee of Directors has been formed to finalize the issue price, rights entitlement ratio, and record date.

Board approved Rights Issue to raise up to ₹5,500.00 lakhs (₹55.00 crore)
Proposed issuance of equity shares having a face value of ₹5 each
Proposed raise represents approximately 63% of current market cap (₹87 crore) and over 2x TTM revenue (₹27 crore)
Detailed terms, issue price, ratio, and record date to be determined by the Committee of Directors

💡 Track subsequent filings for the announcement of the rights issue price, entitlement ratio, promoter participation commitment, and the official record date.

Praxis Revises Loan Interest Rate to 13% on ₹20 Cr Facility with CMS IT Services

🔴 NEGATIVE ⭐ 6/10

OTHER 📅 09 Sep 2026, 05:52 PM

Praxis Home Retail has amended terms for its unsecured inter-corporate loan agreements with CMS IT Services Private Limited, raising the borrowing rate from 11% to 13% per annum retrospectively from May 22, 2026, and June 23, 2026. The total facility sanctioned is ₹20 crore, out of which ₹16.5 crore is currently availed and outstanding. This loan is for working capital and general corporate purposes with a 6-month tenure. The 200 bps increase in interest rate will add to finance costs for a company that is already reporting negative net worth and operating losses.

Interest rate increased by 200 bps from 11% to 13% per annum retrospectively
Total loan facility sanctioned is ₹20 crore, with ₹16.5 crore drawn down and outstanding
Loan tranches include ₹5.5 crore (May 22, 2026) and ₹14.50 crore (June 23, 2026)
Tenure of the unsecured loan is 6 months, subject to mutual extension
Total outstanding loan of ₹16.5 crore represents ~61% of TTM revenue (₹27 crore)

💡 Monitor upcoming quarterly results to track the impact of higher finance costs on net losses and check for liquidity developments or repayment/refinancing terms after the 6-month tenure expires.

Praxis Home Retail Board to Meet on Sep 11, 2026 to Consider Rights Issue

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 07 Sep 2026, 12:14 PM

Praxis Home Retail has scheduled a Board of Directors meeting on September 11, 2026, to consider a proposal for raising funds via a Rights Issue of equity shares. This follows an earlier intimation dated August 07, 2026. In accordance with insider trading regulations, the trading window for designated persons is closed from September 07, 2026, to September 13, 2026. The company carries debt of Rs 189 Cr and a negative net worth of Rs -77 Cr, making equity capital infusion critical to ease liquidity constraints.

Board meeting scheduled on Friday, September 11, 2026, to consider equity fundraising via Rights Issue.
Trading window closed from Monday, September 07, 2026, to Sunday, September 13, 2026.
Filing is in continuation to the previous intimation dated August 07, 2026.

💡 Track the outcome of the September 11, 2026 board meeting for the proposed rights issue size, issue price, entitlement ratio, and timeline.

Praxis Home Retail Convenes 15th AGM on Sept 25, 2026; Dispatches FY26 Annual Report

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Sep 2026, 02:33 PM

Praxis Home Retail Limited has issued the notice convening its 15th Annual General Meeting (AGM) scheduled for September 25, 2026, via video conferencing. Key agenda items include adopting the audited financial statements for FY25-26, where net losses expanded to ₹6,661.50 lakh (₹66.62 cr) from ₹3,497.85 lakh in FY25. Shareholders will also vote on the appointment of three Independent Directors for 5-year terms and approve amendments to the Praxis ESOP 2024 scheme.

15th Annual General Meeting scheduled for September 25, 2026, at 11:30 AM IST via VC/OAVM
Net loss for FY25-26 reported at ₹6,661.50 lakh compared to ₹3,497.85 lakh in FY24-25
Basic and Diluted EPS stood at Rs (4.03) for FY26 versus Rs (2.74) for FY25
Resolutions proposed for the appointment of three Independent Directors for a 5-year term ending in 2031
Proposed special resolution to approve amendments and variations to the Praxis Employee Stock Option Plan – 2024

💡 Track voting outcomes of the AGM on September 25, 2026, and monitor subsequent quarterly operational performance given persistent net losses and negative net worth.

NSE Rejects Praxis Home Retail Promoter Reclassification Application for 14 Entities

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 18 Aug 2026, 06:36 PM

Praxis Home Retail announced that the National Stock Exchange of India (NSE) has closed and rejected its application to reclassify 14 promoter group entities to the 'Public' category under Regulation 31A of SEBI LODR. The rejection occurred because queries and clarifications raised by the Exchange remained unaddressed over a prolonged period. The list of outgoing promoters includes Kishore Biyani, Ashni Biyani, and Future Corporate Resources Pvt Ltd. The NSE noted that the company may file a fresh application along with the requisite documents and fees if it wishes to pursue the matter.

NSE returned/closed reclassification application covering 14 promoter and promoter group entities
Entities seeking public reclassification include Kishore Biyani, Ashni Biyani, and Future Corporate Resources Pvt Ltd
Application closed due to prolonged non-response to Exchange queries despite multiple follow-ups
Initial application submitted between June-July 2025 and resubmitted on August 12, 2026

💡 Track whether management submits a fresh reclassification application with full documentation, alongside monitoring the company's core operational turnaround efforts.

17 Promoter entities seek reclassification to Public category; total 7.23% stake involved

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 12 Aug 2026, 11:03 AM

Praxis Home Retail has provided a detailed list of 17 promoter and promoter group entities seeking reclassification to the 'Public' category, following an initial request in June 2025. The group, which includes Kishore Biyani and family members, holds a combined stake of approximately 7.23%. One entity, Future Corporate Resources Private Limited (0.22% stake), is currently under corporate insolvency resolution process (CIRP). This move comes as the company faces severe financial distress, including a negative net worth of Rs -77 Cr and debt of Rs 189 Cr.

17 entities and individuals from the Promoter Group have requested reclassification to the Public category
Total promoter holding involved in the reclassification is approximately 7.23% of the company
Surplus Finvest Private Limited holds the largest stake among the group at 3.24%
Future Corporate Resources Private Limited (0.22%) is under CIRP as per an NCLT order dated September 24, 2024
Avni Kishore Biyani and Sangita Kishore Biyani hold 2.51% and 1.24% respectively

💡 Investors should monitor the stock exchange approval for this reclassification and observe if it leads to any changes in the board composition or management control, given the company's current negative net worth.

View All PRAXIS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations decreased by 45.82% YoY to INR 118.97 Cr (11,896.96 Lakh) in FY25 from INR 219.58 Cr (21,957.77 Lakh) in FY24. This decline was primarily due to non-availability of sufficient inventory and the closure of several stores.

Profitability Margins

Operating Profit Margin decreased from 48.22% in FY24 to 41.55% in FY25. Net Profit Margin improved from -35.22% in FY24 to -29.4% in FY25, though the company remains in a loss position.

EBITDA Margin

EBITDA loss was INR 62.43 Cr in FY25 compared to an EBITDA loss of INR 49.42 Cr in FY24, representing a widening of core operational losses despite cost-cutting measures.

Capital Expenditure

The company has put on hold its plans to incur any new capex to control costs and conserve financial resources during FY25.

Credit Rating & Borrowing

Interest Coverage Ratio stood at -1.09 times in FY25, an improvement from -2.5 times in FY24, though still negative due to ongoing losses.

⚙️ Operational Drivers

Raw Materials

Stock-in-trade (merchandise) represents the primary cost, with purchases of stock-in-trade totaling INR 49.33 Cr (4,932.85 Lakh) in FY25, accounting for 41.5% of revenue from operations.

Import Sources

The company's procurement strategy is described as 'largely import oriented,' though specific countries of origin are not listed.

Capacity Expansion

The company has put on hold plans to open new stores to conserve cash; current store count is not specified, but revenue was impacted by the closure of 'few stores' during FY25.

Raw Material Costs

Purchase of stock-in-trade decreased by 52.19% YoY to INR 49.33 Cr in FY25 from INR 103.17 Cr in FY24 due to liquidity constraints preventing merchandise procurement.

Manufacturing Efficiency

Not applicable as the company is a retail entity; however, store efficiency was low with most stores running below potential due to poor replenishment of merchandise.

Logistics & Distribution

Supply chain costs were optimized during the year, contributing to a 39.82% reduction in employee benefit expenses and other operational costs.

📈 Strategic Growth

Growth Strategy

Growth will be pursued through cost rationalization, raising funds via rights issues to improve liquidity, and refining store operating systems. Future expansion is currently on hold until the financial position stabilizes.

Products & Services

Home retail merchandise, furniture, and home improvement products sold through retail store formats.

Brand Portfolio

Praxis Home Retail (operates HomeTown format).

Market Expansion

Plans to open new stores are currently on hold to conserve financial resources.

Strategic Alliances

Pledge of equity shares with Catalyst Trusteeship Ltd acting as Security Trustee on behalf of lenders.

🌍 External Factors

Industry Trends

The industry is facing challenges related to supply chain management and inventory replenishment; Praxis is positioning itself by consolidating its supply chain network.

Competitive Moat

Moat is based on strategic store locations and established store operating systems, though sustainability is currently challenged by a weak financial position.

Macro Economic Sensitivity

Business is sensitive to general economic and political conditions in India, as well as Indian monetary and fiscal policies.

Geopolitical Risks

Risks include changes in import-related policies and regulations which could disrupt the procurement of merchandise.

⚖️ Regulatory & Governance

Industry Regulations

The company tracks regulatory changes proactively to ensure compliance; procurement is subject to import policy regulations.

⚠️ Risk Analysis

Key Uncertainties

Liquidity constraints (impacted stock purchase by 52.19%), inventory shortages, and the ability to sustain operations with negative net worth (Return on Net Worth of -22.74%).