Annual Report of Praj Industries Limited for FY 2025-26

Date: 21st July, 2026 Ref.: PIL/ANB/L-028/2026-27 Company Code: PRAJIND Security Code No.: 522205 National Stock Exchange of India Ltd. BSE Ltd. Exchange Plaza, 5th Floor, Plot No. C/1, Phiroze Jeejeebhoy Towers, 25th Floor, G Block, Bandra-Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Sub.: Annual Report for the financial year 2025-26 along with Notice of Annual General Meeting Dear Sir/Madam, Pursuant to the provisions of Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are submitting herewith the Annual Report of the Company for the financial year 2025-26 including Notice of 40th Annual General Meeting (AGM) of the Company which is being sent to the Members through electronic means as per the circulars from Ministry of Corporate Affairs and the Securities and Exchange Board of India. Important details with regard to AGM are as under: Sr. Particulars Details 1. AGM details Thursday, the 13th August, 2026 at 10:00 a.m. through Video Conferencing/Other Audio Video Visual Means 2. Cut-off date to determine list of members Friday, 10th July, 2026 entitled to receive Notice of AGM and Annual Report 3. Cut-off date (Record date) to determine Thursday, 6th August, 2026 list of members entitled to receive final dividend 4. Dividend Payment Date By 11th September, 2026 5. Cut-off date to determine list of members Thursday, 6th August, 2026 entitled for e-voting 6. Remote e-voting start time, day and date 9:00 a.m. (IST), Monday, the 10th August, 2026 7. Remote e-voting end time, day and date 5:00 p.m. (IST), Wednesday, the 12th August, 2026 Praj Industries Limited Regd. Office: ‘Praj Tower’, 274 & 275/2, Bhumkar Chowk, Hinjewadi Road, Hinjewadi, Pune 411057. Ph.: +91-20-71802000 / 22941000 f: +91-20-22941299 e: info@praj.net w: www.praj.net CIN: L27101PN1985PLC038031 The link to view the Notice of AGM and Annual Report is as under: https://www.praj.net/wp-content/uploads/2026/07/Praj-Industries-Ltd-Annual-Report-2025-26.pdf Thanking you. Yours faithfully, FOR PRAJ INDUSTRIES LIMITED ANANT BAVARE COMPANY SECRETARY & COMPLIANCE OFFICER (M. NO. 21405) Encl.: as above Praj Industries Limited Regd. Office: ‘Praj Tower’, 274 & 275/2, Bhumkar Chowk, Hinjewadi Road, Hinjewadi, Pune 411057. Ph.: +91-20-71802000 / 22941000 f: +91-20-22941299 e: info@praj.net w: www.praj.net CIN: L27101PN1985PLC038031 40th Annual Report 2025-2026 At Praj, our journey has always been rooted in building indigenous, scalable technologies that translate vision into impact. From first-of-its-kind ethanol complexes to advanced biofuels, from bioplastics to next-generation energy platforms, our focus remains steadfast: disciplined execution, engineering excellence and long-term value creation. Dr. Pramod Chaudhari Founder Chairman IAnwnoarvdaste &. IRnetecgorganteit.i oDneliver. During the year, Praj Industries and its subsidiaries received several prestigious recognitions, reflecting excellence across sustainability, innovation, engineering, and business performance. Recognized among the Top 50 Innovative Companies of 2025 CII Global Summit on Technology, R&D and by the Confederation of Indian Industry (CII), Intellectual Property. highlighting a strong innovation culture and R&D capabilities Winner of the Deloitte Enterprise Growth Awards 2025, recognizing exceptional growth, innovation, and leadership Praj GenX received the Silver Award at the National Awards for Manufacturing Competitiveness (NAMC) 2024-25, hosted by the International Research Institute for Manufacturing (IRIM), recognizing manufacturing excellence and operational efficiency Ranked #5 on Fortune India’s 100 Emerging Stars list, acknowledging leadership in sustainable energy and the circular bioeconomy Award of Recognition at the 5th Global Road Construction Conference 2025 for contribution to the bitumen industry Praj Foundation was honoured with the Rotary Green CSR Award 2026 Champions of Change - CSR Award 2025 conferred by the Rotary Club for commitment to in the Health & Sanitation category by the Pune sustainability and environmental conservation Zilla Parishad, recognizing its impactful community development and healthcare initiatives aligned with the UN Sustainable Development Goals (SDGs) 2030 The Rani Chennamma batch at Praj GenX was recognized at the Weldfab Tech Awards 2026, where a team member Soumya, received the Best Woman Welder of the Year honor, highlighting excellence in high-precision fabrication and inclusive manufacturing Energy Independence at the Centre of the Talk 08 Board of Directors 09 Corporate Information 10 Message from the Founder Chairman 12 Message from the MD 13 Message from the Joint MD & CFO 17 Praj at a Glance 18 Management Discussion & Analysis Report Board's Report 54 CSR Report 57 Report on Corporate Governance 80 Business Responsibility & Sustainability Report 122 Standalone Financial Statements 199 Consolidated Financial Statements 275 Notice of AGM stnetnoC BUILDING FOR FUTURE Board of Directors Dr. Pramod Chaudhari Founder Chairman Berjis Utkarsh Vinayak Desai Palnitkar Deshpande Non-Executive Independent Independent Non-Independent Director Director Director Dr. Shridhar Rujuta Ajay Shukla Jagtap Deshpande Independent Independent Independent Director Director Director Ashish Sachin Parth Gaikwad Raole Chaudhari Managing Joint Managing Non-Executive Director Director & CFO Non-Independent Director 8 Praj Industries Corporate Information Board of Directors Mr. Parth Chaudhari, Non-Executive Director Dr. Pramod Chaudhari, Founder Chairman (w.e.f. 11th August, 2025) Mr. Shishir Joshipura, CEO & Managing Director Mr. Utkarsh Palnitkar, Independent Director (up to 30th June, 2025) Mr. Vinayak Deshpande, Independent Director Mr. Ashish Gaikwad, Managing Director Dr. Shridhar Shukla, Independent Director Mr. Sachin Raole, Joint Managing Director & CFO Mr. Berjis Desai, Non-Executive Director (w.e.f. 1st July, 2025) Ms. Rujuta Jagtap, Independent Director Ms. Parimal Chaudhari (up to 11th August, 2025) Mr. Ajay Narayan Deshpande, Independent Director Company Secretary & Compliance Officer Mr. Anant Bavare Auditors Bankers Statutory Auditors: M S K A & Associates LLP Bank of Maharashtra Cost Auditors: Dhananjay V. Joshi & Associates The Hong Kong and Shanghai Banking Corporation Limited ICICI Bank Limited Internal Auditors: Khare Deshmukh & Co. Citibank N.A. Secretarial Auditors: MSN Associates Standard Chartered Bank Registered Office Registrar & Share Transfer Agent “Praj Tower”, S. No. 274 & 275/2, Bhumkar MUFG Intime India Pvt. Ltd. (formerly known as Link Intime Chowk- Hinjewadi Road, Hinjewadi, India Pvt. Ltd.) Block No 202, 2nd Floor, Akshay Complex, Pune 411 057, Maharashtra, India Off Dhole Patil Road, Pune 411 001, Maharashtra, India R & D Unit I R & D Unit II Praj Matrix – The Innovation Center, Shreenathnagar, Patethan, P.O. Rahu, Tal. Daund, Gat No. 402, 403, 1098, Village Urawade, Dist. Pune 412 207, Maharashtra, India Tal. Mulshi, Pune 412 115, Maharashtra, India R & D Unit III Plot No. E-20 & E-21, additional MIDC Area, Jejuri, Tal. Purandar, Pune 412 303, Maharashtra, India Manufacturing Facilities • Unit I Gat No.748 and Unit II Gat No. 745, 746, • Praj HiPurity Systems Ltd. Sanaswadi, Tal. Shirur, Dist. Pune 412 208, Gut No. 437, 438, 456, 467, 204 & 205, Near Gokul Hotel, Kondle Maharashtra, India Road, Village Usar, Taluka - Wada, District - Thane 421 303, Maharashtra, India • Kandla SEZ Unit I, Plot No. 307 to 314, Gandhidham, Kutch 370 230, Gujarat, India • Praj GenX Ltd. Plot No. 3 & 7, Padubidri Karkala Road, ASPEN SEZ, Nandicoor, • Kandla SEZ Unit II, Plot No. 282 to 286 and 294 to Udupi, Karnataka 574 111, India 298, Gandhidham, Kutch 370 230, Gujarat, India Presence in India, Thailand, the USA, the Philippines and Tanzania Scan this QR code using your smartphone or tablet to learn more about us. Annual Report 2025-26 9 BUILDING FOR FUTURE Message from the Founder [Showing first 8,000 characters — download PDF for full document]