Capital Goods-Non Electrical Equipment
Capital Goods - Engineering Heavy
from 335 today
Praj Industries reported a mixed Q1FY27 performance with revenue increasing ~11.8% YoY and EBITDA margin contracting 137bps YoY on lower volumes and an unfavourable mix. We upgrade our rating from 'Accumulate' to 'Buy' given the recent correction in the stock price and beginning of Genx orders, arriving at a TP of Rs390.
We maintain our HOLD rating on Praj Industries Ltd with a revised target price of Rs 350/share, reflecting lower FY27E/FY28E earnings estimates, while new growth engines such as data centre orders and advanced biofuels offer structural upside.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
