Shares of Praj Industries, a leading global biotechnology and engineering company, remained higher for the second straight session during Tuesday’s trade on December 16, rallying another 7.2% to reach a two-month high of ₹357.80 apiece. This took the cumulative two-day gain to 18%.
Shareholders appear to be rejoicing at the recovery seen in the stock after a sustained correction since the start of the year, which had eroded billions in investor wealth and sharply reduced the company’s market valuation.
Although the stock has staged a solid rebound recently, helping pare some of its annual losses, its year-to-date decline still stands at 57.21%. This marks its steepest yearly drop since 2008, when the stock ended the year with a loss of 73.40%.
After slipping to below ₹50 in 2020, the stock saw a strong recovery in the following years, closing the next four years in a bull run and delivering a cumulative gain of around 1,900%.
However, the rally fizzled out in early 2025, and the crisis deepened further amid the company’s weak financial performance. Persistent execution challenges and subdued demand for new ethanol plants following the achievement of the EBP 20 target continue to weigh on the domestic BioEnergy segment. Its external business also gets impacted due to external business US tariffs.
Nonetheless, analysts believe that Praj’s diversification into CBG, bio-bitumen, biopolymers, and SAF is gradually gaining traction, offering some visibility for medium-term growth.
Praj Industries Q2 2025 performance
The company reported a 65% YoY drop in its consolidated net profit at ₹19.2 crore in Q2FY26, impacted by GenX-related higher other expenses. It had reported a net profit of ₹53 crore in the same period last year.
Though net profit dropped sharply on a YoY basis, it improved by 284% on a QoQ basis, as the company had posted ₹5 crore in the first quarter of FY26. Its revenue from operations during the reporting quarter stood at ₹842 crore, compared to ₹816 crore in Q2FY25. In Q1FY26, revenue was ₹640 crore.
At the operating level, the company posted an EBITDA of ₹56 crore, down from ₹86 crore in the year-ago quarter. EBITDA margins narrowed by 400 basis points to 7% but improved 300 basis points compared to the previous quarter.
Meanwhile, the₹817 crore”> company’s total operating expenses rose to ₹817 crore, up from ₹730 crore in Q2FY25 and ₹609 crore in Q1FY26.
Praj Industries share price history
Although the Praj Industries share price has fallen sharply, its long-term performance still looks impressive, as the stock is trading 205% higher over the last four years. In early January, the stock even touched a fresh record high of ₹875 apiece.
At current levels, the stock is trading at its lowest level since April 2023. As of the September-ending quarter, retail shareholders own a 34.8% stake in the company, while promoters, FIIs, and DIIs hold 32.8%, 17.5%, and 14.8%, respectively, according to BSE shareholding data.
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