Skip to content
Bajel Projects logo

Bajel Projects

BAJEL NSE
₹165.41 No trade today
P/E
87.06
View as Markdown
MCP
Close 4 Nov 2026 ₹165.41 −22.49 −12.0% 1Y
Start ₹187.90

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
11.00%
Debt to Equity
0.49
EPS (TTM)
₹1.90
Book Value
₹64.60
Market Cap
—
P/E (TTM)
87.06
P/B
2.56
ROE
4.10%
Dividend Yield
0.38%
EBITDA
₹125 Cr
52W High
₹215.50
52W Low
₹135.10
Volume
0

Peer Comparison

Industrials › Power › Integrated Power Utilities › Heavy Electrical Equipment

Bajel Projects peer comparison
Bharat Heavy Electricals
₹423.8551.25₹1,46,351 Cr5.520.35%6.23%9.14%₹37,782 Cr₹2,878 Cr
ABB
₹6,750.0047.87₹1,40,908 Cr15.321.36%22.40%29.90%₹13,477 Cr₹2,988 Cr
CG Power & Industrial Solutions
₹841.4596.28₹1,27,312 Cr15.170.16%20.50%26.70%₹13,699 Cr₹1,364 Cr
Hitachi Energy
₹29,100.00112.75₹1,24,045 Cr25.060.03%21.90%29.40%₹9,162 Cr₹1,149 Cr
Siemens
₹3,509.00—₹1,22,035 Cr9.030.53%19.20%21.40%₹18,062 Cr₹3,276 Cr
GE Vernova T&D
₹4,265.0083.66₹1,04,523 Cr33.150.25%57.40%77.40%₹6,712 Cr₹1,305 Cr
Siemens Energy
₹2,963.0070.90₹1,01,562 Cr21.930.14%50.50%67.80%₹9,436 Cr₹1,489 Cr
Bajel Projects (this company)
₹165.4187.06₹1,874 Cr2.560.38%4.10%11.00%₹2,751 Cr₹22 Cr
Median 8 companies₹3,236.0083.66₹1,23,040 Cr15.250.30%21.20%28.05%₹11,457 Cr₹1,427 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

36 Poor

Data confidence 98/100

Category scores

Quality
51
Average
Returns, margins, earnings quality 22% weight
Valuation
35
Poor
Cheap vs sector & own history 24% weight
Growth
25
Poor
Sales & profit trajectory 9% weight
Financial Health
24
Poor
Solvency, leverage, coverage 9% weight
Momentum
31
Poor
Trend strength, vol-adjusted 12% weight
Ownership
31
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

5
  • Stock is trading at 2.54 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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
52.02
Neutral
MACD (12,26,9)
−2.08
Bullish
SMA (50)
170.95
Bearish
SMA (200)
174.01
Bearish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
1Y+7.47%
TTM+2.11%

Net profit

Net profit growth by window
1Y+33.33%
TTM+70.93%

Operating cash flow

Operating cash flow growth by window
1Y−69.57%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
1Y+1.09 pp
TTM+0.89 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2024₹1,169 Cr
Mar 2025₹2,598 Cr
Mar 2026₹2,792 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2024₹4.00 Cr
Mar 2025₹15.00 Cr
Mar 2026₹20.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹180 Cr +44.6% vs FY26
Reported High Mean Low

Quarterly Results

₹ Cr
BAJEL quarterly results, ₹ crore
Particulars Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
5.07
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
6.88
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 (₹)
0.61
0.48
0.32
0.13
0.42
0.26
0.31
−0.04
1.22
0.41

Profit & Loss

₹ Cr
BAJEL profit and loss, annual, ₹ crore
Particulars Mar 2024Mar 2025Mar 2026TTM
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 (₹)
0.37
1.34
1.75
1.9
Div. Payout %
0%
0%
34%
—

Balance Sheet

₹ Cr
BAJEL balance sheet, annual, ₹ crore
Particulars Mar 2024Mar 2025Mar 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

₹ Cr
BAJEL cash flow, annual, ₹ crore
Particulars Mar 2024Mar 2025Mar 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

BAJEL financial ratios, annual
Particulars Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bajel Projects insights

60 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 62.52%
  • Public 20.43%
  • DIIs 9.14%
  • Others 7.59%
  • FIIs 0.32%

2.55% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Documents

  • Q1 FY27 concall · Aug 2026
    PPT
  • Q4 FY26 concall · Jun 2026
    Transcript PPT
  • Q4 FY26 concall · May 2026
    PPT
  • Q3 FY26 concall · Feb 2026
    PPT
  • Q2 FY26 concall · Nov 2025
    PPT

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 Bajel Projects Limited (BPL) is a carved out legal entity from Bajaj Electricals Ltd. It's EPC segment comprises of Power Transmission & Power Distribution.
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 PE ratio of Bajel Projects Ltd?
Bajel Projects Ltd trades at a PE ratio of 87.06 as of 4 Nov 2026, on earnings per share of ₹1.9, against a book value of ₹64.6 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 ₹215.5 as of 4 Nov 2026.
Does Bajel Projects Ltd pay dividends?
Bajel Projects Ltd has a dividend yield of 0.38%.
What is the Return on Equity (ROE) of Bajel Projects Ltd?
Bajel Projects Ltd reported a return on equity of 4.10%. 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 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 19 Dec 2023
Face Value ₹2

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/BAJEL.md for Bajel Projects Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Electrical Equipment stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month