Prakash Industries Q1FY27 Results: Profit Down to ₹71 Cr, Appoints New Auditors
Prakash Industries reported Q1FY27 profit after tax of ₹71 Cr, down from ₹91 Cr YoY, due to new tax regime. Net sales were ₹1032 Cr. EBITDA rose to ₹154 Cr with margin at 14.9%. The company appointed SGAJ & Associates as new Statutory Auditors and inducted ten personnel into Senior Management.
The financial results show a decline in profit, which could impact investor sentiment. The appointment of new auditors and senior management personnel is a significant change but its immediate financial impact is neutral to positive depending on their performance.
The profit after tax for the quarter has decreased compared to the corresponding quarter of the previous year. While EBITDA and margins improved, the overall profit decline is a key negative factor.
Prakash Industries Limited announced the outcome of its Board Meeting held on August 11, 2026. The company approved the unaudited financial results for the quarter ended June 30, 2026, reporting a profit after tax of ₹71 crores. This marks a decrease from ₹91 crores in the corresponding quarter of the previous fiscal year, primarily attributed to the adoption of the new tax regime from April 1, 2026, rendering the Section 80-IA tax exemption unavailable.
During the quarter, net sales stood at ₹1032 crores, a slight decrease from ₹1037 crores in the same period last year. However, EBITDA saw an increase to ₹154 crores from ₹144 crores, resulting in an improved EBITDA margin of 14.9% compared to 13.9% in the prior year's quarter.
A significant decision made by the board was the appointment of M/s. SGAJ & Associates, Chartered Accountants, as the new Statutory Auditors. They will serve 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. The current auditors, Chaturvedi and Co. LLP, will complete their second term at the upcoming 45th AGM.
Furthermore, the company announced the inclusion of ten officials into the category of Senior Management Personnel (SMP), effective August 11, 2026, following the recommendation of the Nomination and Remuneration Committee. These appointments include Executive Directors and Presidents across various key departments such as Corporate Affairs, Plant Operations, Commercial, Accounts & Taxation, Purchase, and heads for specific mines and divisions.
The company also reported extracting approximately 3.3 lac metric tons of coal from its Bhaskarpara Coal Mine during the quarter. Prakash Industries is targeting 1.2 million tonnes of coal extraction in the current financial year, aligning with the Environmental Clearance for increased production capacity.
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