Prabhudas Lilladher Downgrades Praj Industries to Hold with Target of ₹393

Status: Pending

Age: New (2025-08-13)

TRACK

Brokerage

Prabhudas Lilladher

Analyst

Brokerage Team

Position

Bearish

Start Date

2025-08-13

Horizon

Mid Term

Target Price and Expected Returns

Start Price

₹409.10

Target Price

₹393

Expected Returns

-3.9%

Summary

Prabhudas Lilladher downgraded Praj Industries from 'Buy' to 'Hold' with a reduced target price of ₹393 due to delayed order booking, tariff uncertainties, and liquidity challenges.

Prabhudas Lilladher's justification for Praj Industries target price prediction

Revenue declined 8.4% YoY.
EBITDA margin contracted 685bps YoY.
Tariff-related uncertainties affecting order finalization.
Funding constraints halting dispatches in the domestic market.
P/E ratio reduced to 29x Mar'27E.

We value the stock at a PE of 29x Mar’27E (32x Mar’27E earlier) with a revised TP of Rs393 (Rs545 earlier).

Sources:

https://www.moneycontrol.com/channel/0029Va2JvT3LtOj3x6oZcO1D

Tags:

Bearish, Brokerage Team, Prabhudas Lilladher, Praj Industries, stock_prediction

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