Prakash Industries Ltd

Financial highlights

• Net sales ₹1,032 crore in Q1 FY2026-27, vs ₹1,037 crore prior year.
• EBITDA ₹154 crore; margin 14.9%, vs ₹144 crore and 13.9% last year.
• PAT ₹71 crore, down from ₹91 crore due to tax regime change and loss of 80-IA exemption.

Operational and production

• Coal mined from Bhaskarpara: ~3.3 lakh MT in the quarter.
• Target coal extraction 1.2 Mn tonnes in current year per EC dated 1 June 2026.

Financial results

• Unaudited Q1 FY2026-27 results approved; quarter ended 30 June 2026.
• Limited Review Report on results approved.
• Press release on quarterly results approved.
• Single Iron & Steel segment disclosed.

Auditor appointment

• Appoints SGAJ & Associates as statutory auditors for 5 years from AGM conclusion (Sept 30, 2026).
• Appointment subject to shareholders' approval.
• Chaturvedi & Co. LLP to complete current term at 45th AGM (Sept 30, 2026).
• Term ends at the 50th AGM FY2031-32.

Senior Management appointments

• Ashok Kumar Chaturvedi: Executive Director (Corporate Affairs), SMP, effective 11 Aug 2026.
• Mahindra Kumar Pareek: Executive Director (Plant Head), SMP, effective 11 Aug 2026.
• Sanjay Joshi: Executive Director (Commercial), SMP, effective 11 Aug 2026.
• Deepak Mishra: Executive Director (Accounts & Taxation), SMP, effective 11 Aug 2026.
• Sudhakar Saraswat: President (Purchase), SMP, effective 11 Aug 2026.
• Ashok Kumar Sharma: President (Accounts), SMP, effective 11 Aug 2026.
• Deepak Dash: Senior Vice President (Sirkaguttu Iron ore Mine), SMP, effective 11 Aug 2026.
• Arun Kumar Singh: Vice President (Bhaskarpara Coal Mine), SMP, effective 11 Aug 2026.
• Udai Singh: Assistant Vice President (HR & Admin), SMP, effective 11 Aug 2026.
• Rajendran Rathinam: General Manager (Windmill Division), SMP, effective 11 Aug 2026.

Regulatory and tax matters

• Deferred tax liability of ₹165 lakhs adjusted against Securities Premium per court order.
• Tax regime changed to new regime; 80-IA exemption not available.

Certificate processing status

• Securities in the physical certificates have been listed on the stock exchange where existing securities are listed.
• The certificates were mutilated and cancelled, and the depository's name substituted as registered owner within 15 days.

Event overview

• Release of encumbrance on promoter shares (pledge) by promoter group of Prakash Industries.

Key Details

• Company: Prakash Industries Ltd.
• Encumbrance type: Pledge.
• Pre-event encumbered shares: 1,153,801 (0.64%).
• Post-event encumbered shares: 382,270 (0.21%).
• Promoter group: Shree Lakshmi Capital Services Pvt Ltd.
• Encumbrance in favour of: Virtue Financial Services Pvt Ltd.
• Reason: release of pledged shares.
• Date of event: 04 July 2026.

Environmental clearance

• Bhaskarpara Coal Mine received environmental clearance to raise capacity from 1.0 MTPA to 1.2 MTPA.

Headline: Credit Rating Upgrade

• Long-term facilities upgraded from CARE BB (Stable) to CARE BB+ (Stable).
• Rating agency: CARE Ratings Limited.
• Outlook remains Stable.
• Upgrade reflects improvement in the company’s credit profile.