Prism Johnson Limited (PRSMJOHNSN)
₹101.54 +2.31% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Prism Johnson's revenue was ₹2,110 Cr (+0.4% year on year, +14.4% on the previous quarter), and net profit ₹-15.9 Cr (against a profit a year earlier); the operating margin was 8.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹2,110 | +0.4% | +14.4% |
| Operating profit | ₹175 | -6.8% | +25.1% |
| Net profit | ₹-15.9 | to loss | to loss |
| EPS (₹) | 0.13 | -94.9% | -89.3% |
| Operating margin | 8.3% | — | — |
PRSMJOHNSN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 36.9% of the PRSMJOHNSN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 47.23%. The price rose 2.31% on unusually low delivery, so more of the move than usual was intraday trading.
Delivery in the last 5 sessions: 41.1% · 36.3% · 45.0% · 58.5% · 36.9%
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
Prism Johnson's Board has approved an investment of up to ₹40 crore to acquire at least a 26.5% equity stake (plus redeemable preference shares) in KUS Renewable Private Limited. KUS, an SPV set up by CESC subsidiary Purvah Green Power, will develop a 49.5 MW captive wind power plant in Ratlam, Madhya Pradesh. The project is designed to supply cheaper renewable power to Prism Johnson's cement plant in Satna, helping lower manufacturing costs. The completion of the acquisition and project implementation is targeted by October 31, 2027.
- Investment amount capped at not exceeding ₹40 Crores
- Acquiring at least 26.5% equity share capital with voting rights alongside preference shares
- Captive wind power plant capacity of 49.5 MW located at Tehsil Alot, District Ratlam, MP
- Indicative completion timeline is latest by October 31, 2027
Prism Johnson Limited has scheduled an analyst and institutional investor conference on Thursday, September 17, 2026. The conference is organised by Axis Capital Limited and will feature both one-on-one and group meetings held physically in Mumbai. Discussions will strictly cover historical data and publicly available information, with no unpublished price sensitive information (UPSI) shared. For FY26, the company posted a revenue of Rs 7,731.2 Cr with a net profit of Rs 30.01 Cr.
- Conference scheduled for Thursday, September 17, 2026 in Mumbai
- Meeting format includes both One-on-One and Group physical interactions
- Event organised by Axis Capital Limited
- Management confirms discussions will focus strictly on historical and publicly available data with no UPSI
Prism Johnson Limited has received a favorable appellate order setting aside an entire Goods and Service Tax demand of ₹22.70 Crores (which included a penalty of ₹11.35 Crores). The original demand was raised by the Additional Commissioner CGST & Central Excise, Jabalpur, against the company and its employees. The Commissioner (Appeals), Bhopal, set aside the demand in full via an order dated September 3, 2026, received on September 7, 2026. This eliminates a potential liability equal to approximately 75.6% of the company's FY26 net profit of ₹30.01 Crores.
- Commissioner (Appeals) CGST, Bhopal set aside total GST demand of ₹22.70 Crores
- Demand included a penalty component of ₹11.35 Crores imposed on the company and employees
- Favorable order received via email on September 7, 2026, dated September 3, 2026
- Net financial exposure drops to Nil with zero adverse financial or operational impact
Prism Johnson Limited announced that the Commissioner (Appeals) CGST, Excise & Service Tax, Bhopal, has completely set aside a Goods and Service Tax demand of Rs 22.70 crore. The demand, which included a penalty of Rs 11.35 crore originally raised by the Addl. Commissioner CGST & Central Excise, Jabalpur, had been contested since August 2023. The relief equals approximately 75.6% of the company's TTM net profit of Rs 30.01 crore, removing a material contingent liability with zero financial penalty.
- Full relief received on a GST demand totaling Rs 22.70 crore, which included a penalty of Rs 11.35 crore
- Appellate authority Commissioner (Appeals) CGST, Excise & Service Tax, Bhopal, set aside the demand via order dated September 3, 2026
- Total disputed demand represented ~75.6% of TTM PAT (Rs 30.01 crore)
- Filing confirms nil adverse financial or operational impact on the company or its employees
Prism Johnson Limited has scheduled participation in an investor conference organized by Elara Capital on Thursday, September 3, 2026. The interactions will include one-on-one and group meetings held physically at the Grand Hyatt, Santacruz, Mumbai. The company clarified that no Unpublished Price Sensitive Information (UPSI) will be shared during these interactions.
- Conference scheduled for Thursday, September 3, 2026
- Organized by Elara Capital in Mumbai (Grand Hyatt, Santacruz)
- Meeting format includes both one-on-one and group sessions
- Company confirmed no Unpublished Price Sensitive Information (UPSI) will be shared
CRISIL Ratings has reaffirmed its highest short-term credit rating of 'CRISIL A1+' on Prism Johnson Limited's Rs 200 crore Commercial Paper programme. The rationale highlighted significant balance sheet deleveraging, with consolidated net debt to EBITDA improving to 1.2x in FY26 from 2.4x in FY25, aided by Rs 492 crore proceeds from selling Mumbai office premises (Rs 165.9 crore) and Raheja QBE stake (Rs 325.8 crore). Consolidated EBITDA margins recovered to 9.5% in FY26 (up from 6.8% in FY25), supported by cement realization recovery and efficiency improvements post-modernization in the tiles business. CRISIL expects net debt to EBITDA to drop below 0.5x in FY27 supported by moderate annual capex of Rs 300-350 crore and strong liquidity of Rs 548 crore.
- Reaffirmed short-term credit rating at 'CRISIL A1+' on Rs 200 crore Commercial Paper programme.
- Net debt to EBITDA ratio reduced to 1.2x in FY26 from 2.4x in FY25, projected to fall below 0.5x in FY27.
- Non-core asset sales generated ~Rs 492 crore (Rs 165.9 crore office sale + Rs 325.8 crore RQBE stake sale), deployed towards long-term debt prepayment.
- Consolidated FY26 EBITDA margin improved to 9.5% (vs 6.8% in FY25) with Rs 548 crore cash & equivalents as of March 31, 2026.
Prism Johnson Limited has scheduled an analyst and institutional investor conference on Tuesday, August 25, 2026. The physical conference is organized by HDFC Securities Limited and will feature one-on-one and group meetings at the company's office premises in Mumbai. The company confirmed that no unpublished price sensitive information (UPSI) will be discussed during the interaction.
- Analyst/investor conference scheduled for Tuesday, August 25, 2026
- Conference organized by HDFC Securities Limited
- Format includes both One-on-One and Group meetings in physical mode in Mumbai
- Company confirmed that no Unpublished Price Sensitive Information (UPSI) will be shared
Prism Johnson has been declared the successful bidder for 1,28,000 metric tonnes per annum (TPA) of coal linkages from Coal India subsidiaries (24,000 TPA from ECL and 1,04,000 TPA from SECL). The 10-year fuel supply agreements carry an estimated annual procurement value of approx. ₹70.49 crore. With this win, the company's total coal linkage increases to 2,79,400 TPA, securing approximately half of its Cement Division's annual fuel requirement. This long-term domestic fuel security replaces existing linkages of 1,11,400 TPA that are set to expire in February 2027.
- Won 1,28,000 TPA coal linkage (24,000 TPA via ECL and 1,04,000 TPA via SECL) in MSTC auction
- Estimated annual contract value is approximately ₹70.49 crore under 10-year supply agreements
- Total coal linkage expanded to 2,79,400 TPA, covering ~50% of Cement Division annual fuel needs
- Supplements existing 1,51,400 TPA linkage, of which 1,11,400 TPA expires in February 2027
- Fuel Supply Agreements (FSAs) to be formally executed within 90 days of August 17, 2026
Shareholders of Prism Johnson approved all resolutions at the 34th AGM held on August 7, 2026, including a significant enabling resolution to raise up to Rs 500 crore through equity or convertible securities. This potential fundraise represents approximately 21.6% of the company's current market capitalization of Rs 2,309 crore. Additionally, a special resolution for the private placement of Non-Convertible Debentures (NCDs) was passed with 99.85% majority. These approvals provide the company with financial flexibility to support its ongoing modernization of tile units and manage its debt of Rs 1,263 crore.
- Shareholders approved an enabling resolution to raise up to Rs 500 crore via equity or convertible securities in one or more tranches.
- Special resolution for private placement of Non-Convertible Debentures (NCDs) passed with 99.85% of votes in favor.
- Total votes polled reached 42.91 crore, representing 85.25% of the total outstanding shares.
- Re-appointment of directors Mr. Vijay Aggarwal and Mr. Raakesh Jain approved with over 99.99% majority.
- The meeting was attended by 54 shareholders via video conferencing as of the July 31, 2026 cut-off date.
Prism Johnson Limited held its 34th Annual General Meeting on August 7, 2026, where shareholders approved a significant enabling resolution to raise up to ₹500 Crores through equity or convertible securities. This potential fundraise represents approximately 21.6% of the company's current market capitalization of ₹2309 Crores. Shareholders also approved the private placement of Non-convertible Debentures (NCDs) and the adoption of FY26 financial statements. The meeting also confirmed the appointment of Mr. Vijay Aggarwal and Mr. Raakesh Jain as directors.
- Shareholders approved an enabling resolution to raise up to ₹500 Crores via equity or convertible securities.
- The ₹500 Cr fundraise limit is equivalent to ~21.6% of the current market capitalization of ₹2309 Cr.
- Approval granted for the private placement of Non-convertible Debentures (NCDs) and other debt securities.
- Adoption of Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026.
- Appointment of Mr. Vijay Aggarwal and Mr. Raakesh Jain as Directors liable to retire by rotation.
Prism Johnson delivered a strong Q1 FY27 with consolidated EBITDA rising 26.6% YoY to ₹221 crore, despite revenue growing only 2.7% to ₹1,844 crore. The H&R Johnson (HRJ) segment was a standout, with EBITDA margins expanding to 9.0% from 3.3% YoY, driven by a 17% increase in realizations. A major strategic milestone was the completion of the 51% stake sale in Raheja QBE for ₹325.87 crore, which will be reflected in Q2 FY27. Furthermore, the company reported a significant reduction in standalone gross debt to ₹493 crore by August 6, 2026, down from ₹1,048 crore in June 2026.
- Consolidated EBITDA increased 26.6% YoY to ₹221 crore with margins expanding 226 bps to 12.0%
- Divestment of 51% stake in Raheja QBE completed for ₹325.87 crore, representing ~14% of current market cap
- Standalone gross debt reduced to ₹493 crore as of August 6, 2026, from ₹1,048 crore on June 30, 2026
- Cement premium product mix improved significantly to 67% of total sales volume from 46% YoY
- H&R Johnson segment EBITDA more than doubled to ₹47.2 crore despite an 18% decline in tile volumes
Prism Johnson's Board has approved the unaudited financial results for the quarter ended June 30, 2026. The company enters this period following a fiscal year (FY26) where it generated 7,731 Cr in revenue but a thin PAT of 30 Cr. Investors should benchmark these results against the June 2025 quarter, which saw a net loss of 5.56 Cr on revenue of 1,921.75 Cr. The company continues to manage a significant debt load of 1,263 Cr (D/E of 0.82).
- Board approved unaudited standalone and consolidated results for the quarter ended June 30, 2026
- The company reported a TTM revenue of 7,731.2 Cr leading into this announcement
- Previous year's corresponding quarter (Jun 2025) recorded a net loss of 5.56 Cr
- Total debt stands at 1,263 Cr against a net worth of 1,544 Cr
- Board meeting was conducted over 90 minutes, concluding at 12:00 PM on August 7, 2026
India Ratings & Research has upgraded Prism Johnson's long-term rating for its bank loan facilities and Non-convertible Debentures (NCDs) to 'IND AA-' from 'IND A+', while maintaining a 'Positive' outlook. The upgrade covers bank facilities totaling 2,258.34 crore and NCDs of 100 crore. Short-term ratings for commercial paper and non-fund-based limits were affirmed at the highest level of 'IND A1+'. This upgrade is significant for a company with 1,263 crore in debt and a relatively high P/E of 78.2, as it signals improved creditworthiness.
- Long-term credit rating upgraded to 'IND AA-' from 'IND A+' with a 'Positive' outlook.
- Total bank loan facilities rated at 2,258.34 crore, reduced from 2,377.6 crore.
- NCD rating upgraded for an issue size of 100 crore, reduced from 200 crore.
- Short-term rating for Commercial Paper affirmed at 'IND A1+'.
- Fixed Deposit rating withdrawn as the company has no outstanding unsecured term deposits.
Prism Johnson has increased its stake in its subsidiary, Samini Ceramics Limited, from 90% to 98.5% for a cash consideration of ₹15.31 Cr. The company purchased 52,78,500 equity shares from Sentini Buildtech LLP on July 31, 2026. Samini Ceramics, a tile manufacturer based in Andhra Pradesh, reported a turnover of ₹61.18 Cr for FY26, which represents a decline from ₹78.40 Cr in FY24. This transaction consolidates ownership in the tile segment but is small relative to Prism Johnson's overall operations.
- Acquisition of 52,78,500 equity shares for a total consideration of ₹15.31 Cr
- Shareholding in Samini Ceramics increased from 90% to 98.5% on a fully diluted basis
- Target entity turnover has declined for two consecutive years, from ₹78.40 Cr in FY24 to ₹61.18 Cr in FY26
- The transaction was completed on July 31, 2026, via cash consideration through normal banking channels
Prism Johnson Limited has been notified by Kotak Mahindra Bank that the Maharashtra State Pollution Control Board (MPCB) has forfeited a bank guarantee of ₹10 Lakhs. The action is based on alleged non-compliance with consent conditions at the company's Runwal Thane captive Ready-Mixed Concrete (RMC) plant. The company states it has not received direct communication from the MPCB regarding the specific violations. The financial impact is negligible, representing approximately 0.0013% of the company's TTM revenue of ₹7,731 Cr.
- Bank guarantee of ₹10 Lakhs forfeited by the Maharashtra State Pollution Control Board (MPCB).
- The forfeiture relates to alleged non-compliance at the Runwal Thane captive RMC Plant.
- Notification of the action was received from Kotak Mahindra Bank on July 17, 2026.
- The financial impact is immaterial compared to the TTM revenue of ₹7,731 Cr.
- Company claims no direct communication from MPCB regarding the specific nature of the non-compliance.
Financial Performance
Revenue Growth by Segment
Consolidated net sales for H1 FY26 reached INR 3,722.12 Cr, growing 11.2% YoY from INR 3,345.89 Cr. Segment-wise, Prism RMC EBITDA margins improved from 2.7% to 5.8% in FY25, while HRJ margins remained flattish at 5.8%. Cement EBITDA per tonne declined 26.9% to INR 351 in FY25 due to lower realizations.
Profitability Margins
Net Profit Margin decreased from 2.2% in FY24 to 0.6% in FY25. Operating Profit Margin was 5.8% in FY25, down from 6.7% in FY24. H1 FY26 Net Profit was INR 102 Cr, a 46.3% decline from INR 190 Cr in H1 FY25, primarily due to the absence of high exceptional gains seen in the previous year.
EBITDA Margin
Consolidated EBITDA margin contracted by 90 basis points to 5.7% in FY25 from 6.6% in FY24. The company expects EBITDA margins to improve to 7-8% in FY26 driven by cost reductions in the cement division and modernization in the tiles division.
Capital Expenditure
The company plans to incur a large annual capital expenditure of approximately INR 500 Cr over the medium term towards cost rationalization and modernization activities.
Credit Rating & Borrowing
CRISIL Ratings maintained a healthy financial risk profile with net debt to EBITDA improving to 2.4 times in FY25 from 2.9 times in FY24. Finance costs for Q2 FY26 were INR 44.22 Cr, representing 2.4% of total income.
Operational Drivers
Raw Materials
Limestone, clay, feldspar, gypsum, and aggregates. Cost of materials consumed in Q2 FY26 was INR 473.21 Cr, representing 25.4% of total income.
Capacity Expansion
Modernization of kiln activities at HRJ units was largely completed in H1 FY25. The company is also scaling up an asset-light franchise model for the RMC segment to increase market reach without heavy capital investment.
Raw Material Costs
Raw material costs increased slightly by 0.8% YoY to INR 473.21 Cr in Q2 FY26. Procurement strategies focus on long-term supply stability for limestone and clay.
Manufacturing Efficiency
Modernization of kilns is expected to improve operational efficiencies and margins from FY27 onwards as utilization levels increase post-capex completion.
Logistics & Distribution
Freight outward costs in Q2 FY26 were INR 199.55 Cr, accounting for 10.7% of total income, a 17.4% decrease from INR 241.53 Cr in Q2 FY25.
Strategic Growth
Expected Growth Rate
11.20%
Growth Strategy
Growth will be achieved through the completion of modernization at HRJ tile units to improve efficiency, expanding the RMC segment via an asset-light franchise model, and reducing costs in the cement division through green energy investments and waste heat recovery systems.
Products & Services
Cement bags, ceramic and vitrified tiles, ready-mixed concrete (RMC), and general insurance policies through the Raheja QBE JV.
Brand Portfolio
Prism Cement, H & R Johnson (HRJ), Prism RMC.
Market Expansion
Targeting increased domestic market share in tiles to offset moderated export demand.
Strategic Alliances
Raheja QBE General Insurance Company Ltd (Joint Venture).
External Factors
Industry Trends
The industry is shifting toward green energy and cost-efficient manufacturing. Prism Johnson is positioning itself by investing in green power and modernizing aging plants to lower fixed costs.
Competitive Landscape
Faces intense competition in the cement and tiles sectors from both large organized players and regional unorganized manufacturers.
Competitive Moat
The H & R Johnson brand provides a strong competitive advantage in the tiles segment. Cost leadership is being pursued through the modernization of kilns and the use of alternative fuels in cement production.
Macro Economic Sensitivity
Highly sensitive to fuel price inflation (coal and gas) and infrastructure spending cycles in India.
Consumer Behavior
Increasing preference for branded tiles and ready-to-use concrete solutions in urban construction.
Geopolitical Risks
Moderation in export demand has led to increased competition in the domestic tile market, impacting HRJ's pricing strategy.
Regulatory & Governance
Industry Regulations
Operations are subject to mining lease regulations for limestone and environmental pollution norms for cement and tile manufacturing.
Environmental Compliance
Ongoing investments in green energy and waste heat recovery to comply with tightening emission norms and reduce carbon footprint.
Taxation Policy Impact
The company received a favorable order from the ITAT resulting in additional interest income of INR 82 Cr in FY25.
Legal Contingencies
Pending Service Tax demand of INR 22.57 Cr including penalties. The company has filed a Rectification of Mistake Application regarding this demand.
Risk Analysis
Key Uncertainties
Volatility in fuel prices (gas/coal) and fluctuations in cement demand and realizations pose significant risks to margin stability.
Third Party Dependencies
Dependency on gas suppliers for tile manufacturing and coal/power utilities for cement production.
Technology Obsolescence Risk
Aging plants in the cement division lead to higher fixed costs; modernization is critical to maintaining competitiveness.
Credit & Counterparty Risk
Receivables quality is monitored as debtors increased to INR 840 Cr in FY25, with debtor days rising to 41.9.
