LiveNSE delayed · 128/128 · 19 Aug 2026, 03:15 pm
Scores stay the 15 Aug 2026 desk snapshot. Not advice.
PRAJIND · Capital Goods · Small Cap · Live 19 Aug 2026, 03:29 pm · Discovery

Praj Industries Ltd

Ethanol and bioenergy engineering. Policy-backed, lumpy, already well-owned. Future large-cap only if adjacencies (SAF, CBG, international) work.

10X Low
Moderate Risk
Wait for Confirmation
Deep Value Growth
Turnaround
Multibagger score
52.9/100
Market cap
₹6,232 Cr
Last price · live
₹340.50
+4.00 (+1.19%)
52W
₹273–₹433

Implied P/E 22x · PRAJIND.NS · delayed NSE

10X potential (scenario)
LOW
Base multiple
1.5x
Bull multiple
4.2x
Classification
Low Probability

Starting size, cyclicality or valuation leave little room for a dramatic re-rating on conservative maths.

Final investment scorecard

Multibagger52.9 / 100
10X potentiallow
Business quality4.2 / 10
Growth runway5.7 / 10
Competitive advantage6.4 / 10
Management5.7 / 10
Balance sheet8.3 / 10
Valuation7.9 / 10
Technical setup5.4 / 10
Riskmoderate

Why it could become a multibagger

  • If SAF/CBG become real order books, Praj is the listed engineering proxy.
  • Balance sheet can survive a quiet period.

What needs to go right

  • CBG/SAF orders
  • International book
  • Margin hold

What could destroy the thesis

  • Ethanol policy fade with no adjacency
  • A price war in EPC

What would make me sell

  • Order book < 1 year of sales
  • ROCE < 12%

Key metrics to monitor

Order inflow
CBG/SAF mix
ROCE
FCF
Policy news

Illustrative FY25 / TTM desk snapshot compiled for this terminal. Not a live NSE/BSE feed. Cross-check annual reports, exchange filings and investor presentations before use.