Prakash Industries Q2 revenue rises 23.93% to ₹896 crore

Prakash Industries Limited (NSE: PRAKASH) PRAKASH reported Q2 standalone revenue from operations of ₹896 crore, up 23.93% from ₹723 crore a year earlier. Standalone net profit rose 6.17% to ₹65.37 crore from ₹61.57 crore. Why it matters: sales grew by ₹173 crore, but profit grew by only ₹3.80 crore. Net margin works out to about 7.3%, down from about 8.5% a year ago. Most of the extra revenue did not reach the bottom line. My view: the growth is real, but the data does not split it between higher volumes and higher prices, and I cannot see the cost breakdown. For an integrated steel and power producer, iron ore and coal costs are the usual pressure point. Captive coal is the natural offset. In September 2026, the company received Consent to Operate to raise Bhaskarpara coal mine capacity from 1.0 MTPA to 1.2 MTPA, a 20% increase, after earlier environmental clearance. More own coal can lower fuel cost per tonne, if the ramp-up stays on schedule. What I am watching: Next quarter’s net margin against the 7.3% base, and the pace of the Bhaskarpara ramp-up. Risks are swings in global iron ore and coal prices, and compliance delays at the mining units. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.