Prakash Industries Q1FY27 Results: Profit ₹71 Crore, Board Approves New Auditors
Prakash Industries reported Q1 FY27 revenue of ₹1,032 crore and PAT of ₹71 crore. EBITDA rose to ₹154 crore with a margin of 14.9%. The company appointed M/s. SGAJ & Associates as new Statutory Auditors effective from the 45th AGM on September 30, 2026. Ten senior management personnel were also appointed.
The appointment of new auditors and senior management personnel are significant corporate actions. The financial results, while showing a PAT decrease, are stable with improved EBITDA margins.
While revenue saw a slight dip, EBITDA improved, and new auditors were appointed. The decrease in PAT is explained by a tax regime change, making the overall impact neutral.
Prakash Industries Limited announced its unaudited financial results for the quarter ended June 30, 2026. The company reported total revenue from operations of ₹1,032 crore, a slight decrease from ₹1,037 crore in the corresponding quarter of the previous year. EBITDA for the quarter increased to ₹154 crore from ₹144 crore, resulting in an improved EBITDA margin of 14.9% compared to 13.9% year-on-year. Profit After Tax (PAT) for the quarter stood at ₹71 crore, down from ₹91 crore in the same period last year. This decrease is attributed to the company opting for the new tax regime effective April 1, 2026, making the tax exemption under section 80-IA of the Income Tax Act unavailable.
During the quarter, the company extracted 3.3 lac MT of coal from its Bhaskarpara Coal Mine and is targeting 1.2 million tonnes of coal extraction in the current financial year, aligning with the environmental clearance granted for increased production capacity.
The Board of Directors also approved the appointment of M/s. SGAJ & Associates as the new Statutory Auditors for a period of five consecutive years, commencing from the conclusion of the 45th Annual General Meeting (AGM) on September 30, 2026, until the conclusion of the 50th AGM in FY 2031-32. This follows the completion of the second term for the current auditors, Chaturvedi and Co. LLP, at the upcoming AGM.
Furthermore, the Board approved the inclusion of ten officials into the category of Senior Management Personnel (SMP) of the company, effective August 11, 2026. These appointments include key roles such as Executive Directors and Presidents across various functions like Corporate Affairs, Plant Head, Commercial, Accounts, Purchase, and Operations at different mines and divisions.
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