Bajel Projects
BAJEL NSE
Bajel Projects
PowerNSE: BAJEL BSE: 544042 Integrated Power Utilities
Key Fundamentals
MicrocapIntegrated Power UtilitiesPowerMarket Cap
₹2,040 Cr
Volatility
Moderate
P/E Ratio
94.68
EBITDA
₹125 Cr
Return on Equity
2.71%
Debt to Equity
0.49
Book Value
₹64.61
52W High
₹226.69
52W Low
₹135.1
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
5- Stock is trading at 2.78 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 2.83% over last 3 years.
- Company has high debtors of 214 days.
- Company's cost of borrowing seems high
Growth Rate
Revenue Growth
7.21% lower than
3Y
Net Income Growth
30.97% lower than
3Y
Cash Flow Change
-69.49% higher than
3Y
ROE
16.81% higher than
3Y
ROCE
4.76% lower than
3Y
EBITDA Margin (Avg.)
28.86% lower than
3Y
Quarterly Results
| Particulars | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 489 | 512 | 662 | 622 | 801 | 608 | 614 | 562 | 1,008 | 567 |
| Expenses | 481 | 505 | 646 | 608 | 781 | 591 | 593 | 538 | 977 | 548 |
| Operating Profit | 7.85 | 7.1 | 16.8 | 14.64 | 20.74 | 16.19 | 20.49 | 24.77 | 30.57 | 18.54 |
| OPM % | 1.6% | 1.39% | 2.54% | 2.35% | 2.59% | 2.66% | 3.34% | 4.4% | 3.03% | 3.27% |
| Other Income | 10.39 | 11.7 | 5.15 | 7.45 | 6.6 | 8.38 | 6.98 | -2.85 | 6.76 | 5.26 |
| Interest | 10.07 | 9.19 | 11.93 | 15.45 | 16.95 | 15.87 | 17.02 | 16.22 | 14.31 | 11.78 |
| Depreciation | 1.75 | 2.16 | 3.26 | 3.21 | 4.06 | 4.61 | 4.81 | 5.22 | 6.04 | 4.95 |
| PBT | 6.42 | 7.45 | 6.76 | 3.43 | 6.33 | 4.09 | 5.64 | 0.48 | 16.98 | 7.07 |
| Tax % | -10.28% | 25.91% | 45.86% | 57.43% | 23.85% | 27.87% | 36.17% | 185.42% | 16.73% | 32.96% |
| Net Profit | 7.07 | 5.52 | 3.66 | 1.46 | 4.82 | 2.96 | 3.6 | -0.42 | 14.14 | 4.73 |
| EPS in Rs | 0.61 | 0.48 | 0.32 | 0.13 | 0.42 | 0.26 | 0.31 | -0.04 | 1.22 | 0.41 |
Profit & Loss
| Particulars | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|
| Sales | 1,169 | 2,598 | 2,792 | 2,751 |
| Expenses | 1,153 | 2,523 | 2,681 | 2,656 |
| Operating Profit | 16 | 75 | 111 | 94 |
| OPM % | 1.4% | 2.9% | 4% | 3.4% |
| Other Income | 18 | 21 | 10 | 16 |
| Interest | 24 | 60 | 74 | 59 |
| Depreciation | 6 | 13 | 20 | 21 |
| PBT | 4 | 24 | 27 | 30 |
| Tax % | -17% | 35% | 25% | — |
| Net Profit | 4 | 15 | 20 | 22 |
| EPS in Rs | 0.37 | 1.34 | 1.75 | 1.9 |
| Div. Payout % | 0% | 0% | 34% | — |
Balance Sheet
| Particulars | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Equity Capital | 23 | 23 | 23 |
| Reserves | 543 | 643 | 724 |
| Borrowings | 15 | 376 | 367 |
| Other Liabilities | 762 | 1,033 | 1,424 |
| Total Liabilities | 1,343 | 2,075 | 2,538 |
| Fixed Assets | 69 | 98 | 108 |
| CWIP | 0 | 0 | 7 |
| Investments | 3 | 82 | 66 |
| Other Assets | 1,271 | 1,895 | 2,357 |
| Total Assets | 1,343 | 2,075 | 2,538 |
Cash Flow
| Particulars | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Operating | 195 | 69 | 21 |
| Investing | -135 | -128 | 19 |
| Financing | -15 | 68 | -72 |
| Net Cash Flow | 46 | 9 | -32 |
| Free Cash Flow | 168 | 35 | -13 |
| CFO/OP | 1,233 | 91 | 24 |
Ratios
| Particulars | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Debtor Days | 190 | 136 | 214 |
| Inventory Days | 42 | 24 | 26 |
| Days Payable | 201 | 103 | 166 |
| Cash Conversion Cycle | 31 | 57 | 74 |
| Working Capital Days | 62 | -13 | 23 |
| ROCE % | — | 12% | 11% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Bajel Projects insights
60 extracted metrics + investor summaries across FY23–FY26.
Documents
1
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
29 Apr - Bajel wins two ultra-mega MENA EPC orders for 500 kV overhead transmission lines, valued ₹400 Cr+. 29 Apr - Bajel wins two ultra-mega MENA EPC orders for 500 kV overhead transmission lines, valued ₹400 Cr+.
2
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
29 Apr - Bajel wins two ultra-mega MENA EPC orders for 500 kV overhead transmission lines, valued ₹400 Cr+. 29 Apr - Bajel wins two ultra-mega MENA EPC orders for 500 kV overhead transmission lines, valued ₹400 Cr+.
3
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
23 Apr - Annual disclosure for FY 2025-26 states Bajel Projects is not a Large Corporate. 23 Apr - Annual disclosure for FY 2025-26 states Bajel Projects is not a Large Corporate.
4
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
12h - Annual disclosure for FY 2025-26 states Bajel Projects is not a Large Corporate. 12h - Annual disclosure for FY 2025-26 states Bajel Projects is not a Large Corporate.
Frequently Asked Questions about Bajel Projects
What does Bajel Projects Ltd do?
Incorporated in 2022, Bajel Projects Ltd is in the business of Engineering, Procurement and Construction[1]Bajel Projects Limited (BPL) is a carved out legal entity from Bajaj Electricals Ltd. It's EPC segment comprises of Power Transmission & Power Distribution. BPL provides end to end solutions...
Where is Bajel Projects Ltd (BAJEL) listed?
Bajel Projects Ltd trades as BAJEL on the NSE and under code 544042 on the BSE.
Which sector does Bajel Projects Ltd belong to?
Bajel Projects Ltd is classified under the Power sector, in the Integrated Power Utilities industry.
What is the market capitalisation of Bajel Projects Ltd?
Bajel Projects Ltd has a market capitalisation of ₹2,040 Cr, which places it in the Small Cap band.
What is the PE ratio of Bajel Projects Ltd?
Bajel Projects Ltd trades at a PE ratio of 94.68, against a book value of ₹64.61 per share.
What is the 52-week high and low of Bajel Projects Ltd?
Over the last 52 weeks Bajel Projects Ltd has traded between ₹135.1 and ₹226.69.
Does Bajel Projects Ltd pay dividends?
Bajel Projects Ltd has a dividend yield of 0.34%.
What is the Return on Equity (ROE) of Bajel Projects Ltd?
Bajel Projects Ltd reported a return on equity of 2.71%. Its debt-to-equity ratio is 0.49.
Company Information
Incorporated in 2022, Bajel Projects Ltd is in the business of Engineering, Procurement and Construction[1]Bajel Projects Limited (BPL) is a carved out legal entity from Bajaj Electricals Ltd. It's EPC segment comprises of Power Transmission & Power Distribution. BPL provides end to end solutions ranging from inhouse design, testing, procurement, manufacturing, installation & commissioning of the projects.
Website bajelprojects.com
CEO Mr. Rajesh Ganesh
Employees 755
Listed 2023-12-19
Face Value ₹ 2
Issued Size 11,56,86,310
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