Praj Industries Limited

rs,

No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai - 400 001 Sub.: Investor Presentation Dear Sir / Madam, Plea

40%

0+ countries 1800+ employees 90+ research scientists 5 manufacturing facilities 400+ patents 40%+ business from repeat customers ~10% Global ethanol production market share* 1000++ References

10%

arch scientists 5 manufacturing facilities 400+ patents 40%+ business from repeat customers ~10% Global ethanol production market share* 1000++ References/plants worldwide 400 + overseas re

11%

references Net Debt Free company Praj Industries Limited * Excluding China 3-Year Revenue CAGR 11% 3-Year EBITDA CAGR 16% 3-Year PAT CAGR 13% FY25 ROCE 23% 2 t h g i L l a r t u e N

16%

e company Praj Industries Limited * Excluding China 3-Year Revenue CAGR 11% 3-Year EBITDA CAGR 16% 3-Year PAT CAGR 13% FY25 ROCE 23% 2 t h g i L l a r t u e N k r a D Company Ove

13%

tries Limited * Excluding China 3-Year Revenue CAGR 11% 3-Year EBITDA CAGR 16% 3-Year PAT CAGR 13% FY25 ROCE 23% 2 t h g i L l a r t u e N k r a D Company Overview • Incorporated

23%

* Excluding China 3-Year Revenue CAGR 11% 3-Year EBITDA CAGR 16% 3-Year PAT CAGR 13% FY25 ROCE 23% 2 t h g i L l a r t u e N k r a D Company Overview • Incorporated in 1983 under

8.79%

ix continents and still counting. 40,000 35,000 30,000 25,000 20,000 15,000 23,433 10,000 8.79% 9.01% 5,000 0 11.19% 10.06% 6,402 4.90% FY22 FY23 FY24 FY25 Q1-FY26 Revenue EBITDA •

9.01%

inents and still counting. 40,000 35,000 30,000 25,000 20,000 15,000 23,433 10,000 8.79% 9.01% 5,000 0 11.19% 10.06% 6,402 4.90% FY22 FY23 FY24 FY25 Q1-FY26 Revenue EBITDA • Team o

11.19%

counting. 40,000 35,000 30,000 25,000 20,000 15,000 23,433 10,000 8.79% 9.01% 5,000 0 11.19% 10.06% 6,402 4.90% FY22 FY23 FY24 FY25 Q1-FY26 Revenue EBITDA • Team of 90+ technologist

10.06%

. 40,000 35,000 30,000 25,000 20,000 15,000 23,433 10,000 8.79% 9.01% 5,000 0 11.19% 10.06% 6,402 4.90% FY22 FY23 FY24 FY25 Q1-FY26 Revenue EBITDA • Team of 90+ technologists, 400+

4.90%

000 30,000 25,000 20,000 15,000 23,433 10,000 8.79% 9.01% 5,000 0 11.19% 10.06% 6,402 4.90% FY22 FY23 FY24 FY25 Q1-FY26 Revenue EBITDA • Team of 90+ technologists, 400+ patents filing

“Mn) Q1-FY26 Segmental Order Intake – INR 7,950 Mn Q1-FY26 Geographical Order Intake 8,880 9,210 10,530 10,320 7,950 Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Q1-FY26 Order backlog (At the end of each quarter, Values in INR.”

“Mn) 43,490 42,930 44,480 41,490 40,440 Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Q1-FY26 1.2 1 0.8 0.6 0.4 0.2 0 1.2 1 0.8 0.6 0.4 0.2 0 Engineering, 12% HiPurity, 8% Bioenergy, 80% Export, 45% Domestic, 55% Q1-FY26 Segmental Order backlog – INR 44,480 Mn Q1-FY26 Geographical Order backlog HiPurity, 4% Engineering, 15% Bioenergy, 81% Export, 38% Domestic, 62% Praj Industries Limited 10 Q1 FY26 Operational and Industry Highlights (1/2)”

“market − Global Biofuel Alliance- formal adoption of governance framework by member countries expected to result in new demand Praj Industries Limited 11 Q1 FY26 Operational and Industry Highlights (2/2) 1G Services: − Continues its growth journey with healthy performance − Healthy enquiry pipeline for biogenic CO2 Capture solutions”

“− Traction for Napier Grass based projects; Healthy Enquiry basket for Press mud-based plants; orders delayed due to funding finalization − BPCL JV for developing 10 CBG project: Agreement draft under discussion Energy Transition & Climate Action (ETCA): - Tariff uncertainty, lower priority for Energy transition resulting in projects either getting delayed or under hold - Exploring non-US markets to pivot”

Note

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Financial Performance

1

CBG

1

SAF

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Valorem Advisors Disclaimer

1

Note

• Engineering businesses include critical process equipment & skids, brewery and ZLD segments. Praj Industries Limited 9 Order Intake & Order Backlog t h g i L l a r t u e N k r a D 12000 10000 8000 6000 4000 2000 0 45000 43000 41000 39000 37000 35000 Order Intake (At the end of each quarter, Values in INR. Mn) Q1-FY26 Segmental Order Intake – INR 7,950 Mn Q1-FY26 Geographical Order Intake 8,880 9,210 10,530 10,320 7,950 Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Q1-FY26 Order backlog (At the end of each quarter, Values in INR. Mn) 43,490 42,930 44,480 41,490 40,440 Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Q1-FY26 1.2 1 0.8 0.6 0.4 0.2 0 1.2 1 0.8 0.6 0.4 0.2 0 Engineering, 12% HiPurity, 8% Bioenergy, 80% Export, 45% Domestic, 55% Q1-FY26 Segmental Order backlog – INR 44,480 Mn Q1-FY26 Geographical Order backlog HiPurity, 4% Engineering, 15% Bioenergy, 81% Export, 38% Domestic, 62% Praj Industries Limited 10 Q1 FY26 Operational and Industry Highlights (1/2)

Financial Performance

− Drop in volume in domestic ethanol business on account of delayed execution cycles and liquidity crunch at the customers end − Additionally, GenX business expenses with no corresponding revenues − Mark to Market of forex forward contracts on account of forex fluctuation − Delayed execution of couple of high value engineering orders at Kandla led to higher labour and infrastructure expenses − ETR: Effective Tax Rate for Q1FY 26 in consolidated financials is 44% because the deferred tax asset on the losses of Praj GenX is at lower rate; International order book at 45% of Q1 FY26 order book 1G Domestic: − EBP20 target achieved; Installed capacity exceeds EBP20 requirement, leading to slowdown in enquiries for greenfield ethanol plants − Impetus to ethanol demand due to expected increase in blending mandates − Funding challenges for customers- Ask for higher equity contribution and increased credit scrutiny by bankers 1G International: − Despite good enquiry basket from Americas region,

CBG

− Traction for Napier Grass based projects; Healthy Enquiry basket for Press mud-based plants; orders delayed due to funding finalization − BPCL JV for developing 10 CBG project: Agreement draft under discussion Energy Transition & Climate Action (ETCA): - Tariff uncertainty, lower priority for Energy transition resulting in projects either getting delayed or under hold - Exploring non-US markets to pivot

SAF

- - - Received order for detailed engineering of commercial size SAF plant in the USA Partnership with IATA, and ISMA to advance SAF Carbon Assessment and Certification in India Various states promoting SAF investments; policy announcements expected soon Praj Industries Limited 12 Quarterly Financial Performance - Standalone Q1-FY26 Q1-FY25 Y-o-Y Q4-FY25 Q-o-Q t h g i L l a r t u e N k r a D Particulars (INR Mn) Operational Income Expenses EBITDA EBITDA Margins (%) Other Income Depreciation Interest Profit Before Exceptional Items and Tax Exceptional Items PBT Tax Profit After tax PAT Margins (%) Other Comprehensive Income Total Comprehensive Income Diluted EPS (INR) Praj Industries Limited 6,007 5,147 860 (15.0)% (6.3)% (67.4)% 7,011 6,227 784 14.32% (883) Bps 11.18% 5,103 4,823 280 5.49% 132 131 15 266 - 266 66 200 134 106 11 877 281 1,158 240 918 3.92% 15.28% 7 207 1.09 (3) 915 5.00 (1.5)% 23.6% 36.4% (69.7)% NA (77.0)% (72.5)% (78.2)% NA NA (77.4)% (78.2)% (27.2)% (22.5)% (64.3)% (

Valorem Advisors Disclaimer

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details please contact our Investor Relations Representatives: VALOREM ADVISORS Mr. Anuj Sonpal Tel: +91-22-49039500 Email:praj@valoremadvis