New Risk • May 31
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). High level of non-cash earnings (48% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (4.3% net profit margin). Market cap is less than US$100m (₹2.44b market cap, or US$25.7m). Announcement • May 23
Pratham EPC Projects Limited to Report Fiscal Year 2026 Results on May 30, 2026 Pratham EPC Projects Limited announced that they will report fiscal year 2026 results at 9:08 AM, Indian Standard Time on May 30, 2026 Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Garima Dinesh Rajput was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Garima Dinesh Rajput was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Garima Dinesh Rajput was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 14
Pratham EPC Projects Limited to Report First Half, 2026 Results on Nov 14, 2025 Pratham EPC Projects Limited announced that they will report first half, 2026 results on Nov 14, 2025 Announcement • Sep 01
Pratham EPC Projects Limited, Annual General Meeting, Sep 30, 2025 Pratham EPC Projects Limited, Annual General Meeting, Sep 30, 2025, at 15:00 Indian Standard Time. Location: a-1101, sankalp iconic tower, opp. isro colony, iskonambli road - 380058, ahmedabad India New Risk • Jun 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (63% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (₹2.67b market cap, or US$31.2m). New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (63% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (₹2.90b market cap, or US$33.9m). Board Change • May 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Garima Dinesh Rajput was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹211, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 22x in the Energy Services industry in India. Total loss to shareholders of 12% over the past year. Announcement • Mar 14
Subudhi Sagarika Sanjeev kumar agreed to acquire 52% stake in Pipeflow Integrity India Private Limited from Pratham EPC Projects Limited (NSEI:PRATHAM) for INR 0.78 million. Subudhi Sagarika Sanjeev kumar agreed to acquire 52% stake in Pipeflow Integrity India Private Limited from Pratham EPC Projects Limited (NSEI:PRATHAM) for INR 0.78 million on March 12, 2025. A cash consideration of INR 0.78 million will be paid by the buyer. As part of consideration, INR 0.78 million is paid towards common equity of Pipeflow Integrity India Private Limited.
For the period ending March 31, 2024, Pipeflow Integrity India Private Limited reported total revenue of INR 13.56 million. As of March 31, 2024, Pipeflow Integrity India Private Limited reported total common equity of INR 1.16 million. The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board. The expected completion of the transaction is March 13, 2025. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹192, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 21x in the Energy Services industry in India. Board Change • Nov 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Garima Dinesh Rajput was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 02
Pratham EPC Projects Limited, Annual General Meeting, Sep 30, 2024 Pratham EPC Projects Limited, Annual General Meeting, Sep 30, 2024, at 15:00 Indian Standard Time. Location: ahmedabad management association, 1, dr. vikram sarabhai marg, opp. iim, institute, university area, ahmedabad- 380015, ahmedabad India Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹241, the stock trades at a trailing P/E ratio of 42.8x. Average trailing P/E is 38x in the Energy Services industry in India. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹331, the stock trades at a trailing P/E ratio of 58.7x. Average trailing P/E is 43x in the Energy Services industry in India. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹364, the stock trades at a trailing P/E ratio of 64.7x. Average trailing P/E is 41x in the Energy Services industry in India. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₹331, the stock trades at a trailing P/E ratio of 76.7x. Average trailing P/E is 37x in the Energy Services industry in India. New Risk • Apr 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Revenue has declined by 0.5% over the past year. High level of non-cash earnings (124% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (₹3.86b market cap, or US$46.3m). Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 74% After last week's 74% share price gain to ₹198, the stock trades at a trailing P/E ratio of 45.9x. Average trailing P/E is 29x in the Energy Services industry in India. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹114, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 26x in the Energy Services industry in India. Board Change • Mar 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Garima Dinesh Rajput was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.