Praj Industries on Monday announced that Shishir Joshipura, the company’s Managing Director and Chief Executive Officer, has resigned, with his departure effective from 30 June 2025.

The development was confirmed via an official announcement by the company. No further details regarding the reason for Joshipura’s resignation or information about his successor have been disclosed at this time.

Praj Industries is a globally recognised biotechnology and engineering company, known for offering sustainable solutions across a range of areas including bioenergy, water purification, process equipment, breweries, and wastewater treatment. The company’s work is anchored in environmental innovation, with a focus on energy, climate solutions, and farm-to-fuel technologies.

The announcement comes shortly after the company reported a significant decline in its Q4 FY25 financial performance. According to the company’s financial results, consolidated net profit dropped 56.7% to Rs 39.80 crore, while operational income fell 15.6% to Rs 859.70 crore, compared to the same quarter last year (Q4 FY24).

Following the announcement of the leadership change and the Q4 earnings, shares of Praj Industries fell 0.39% to Rs 507.10 on the Bombay Stock Exchange (BSE).

Praj Industries has not released any additional statements regarding the leadership transition or the company’s future strategic direction following Joshipura’s exit.