2/5/2025, 11:08:03 am

Buy Praj Industries; target of Rs 545: Prabhudas Lilladher

Praj Industries reported a 15.6% YoY revenue decline and 362bps margin contraction to 8.8% EBITDA, driven by execution delays. FY26/27E EPS estimates were cut by 27.3%/39.0% due to delayed GenX order booking. Despite near-term challenges, growth prospects remain strong in BioEnergy. The stock trades at 36.1x/27.1x FY26/27E EPS, with a revised target price of Rs 545 and a 'Buy' rating maintained.