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Bajel Projects

BAJEL NSE
₹161.20 7.14 (4.24%)
Market Cap
₹1,865 Cr
P/E
84.84

Bajel Projects (BAJEL) share price was ₹161.20 at the 28 Oct 2026 close; market capitalisation ₹1,865 Cr; P/E (TTM) 84.84; sector Power. The share price fell 15.8% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 6.7% year on year to ₹566.88 Cr and net profit rose 59.8% year on year to ₹4.73 Cr (compared with Jun 2025). Promoters held 62.52% of Bajel Projects in Sep 2026, down 0.01 percentage points from Jun 2026. Its Tapetide Score is 36/100 (Poor) as of 28 Oct 2026.

Close 28 Oct 2026 ₹161.20 −30.30 −15.82% 1Y

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods
Market Cap
₹1,865 Cr
P/E (TTM)
84.84
EBITDA
₹125 Cr
Return on Equity
2.71%
Debt to Equity
0.49
Book Value
₹64.60
EPS (TTM)
₹1.90
52W High
₹215.50
52W Low
₹135.10

Price-based figures as of 28 Oct 2026, 15:59 IST · EPS basis: Consolidated · TTM

Peer Comparison

Industrials › Power › Integrated Power Utilities › Heavy Electrical Equipment

Bharat Heavy Electricals
₹405.3049.011,41,128 Cr5.280.35%6.12%6.60%38,773 Cr2,878 Cr
ABB
₹6,490.0046.031,37,529 Cr14.731.37%21.30%28.46%15,138 Cr2,988 Cr
CG Power & Industrial Solutions
₹832.3095.231,31,125 Cr15.000.16%14.60%19.34%14,020 Cr1,364 Cr
Hitachi Energy
₹28,435.00110.171,26,742 Cr24.490.03%19.09%24.92%9,446 Cr1,149 Cr
Siemens
₹3,373.0036.671,20,119 Cr8.680.54%16.48%20.33%20,020 Cr3,276 Cr
GE Vernova T&D
₹4,060.0079.641,03,955 Cr38.640.25%45.84%58.45%6,835 Cr1,305 Cr
Siemens Energy
₹2,840.0067.961,01,138 Cr21.020.14%25.11%29.23%9,626 Cr1,489 Cr
Bajel Projects (this company)
₹161.2084.841,865 Cr2.500.36%2.71%11.66%2,740 Cr22 Cr
Median 8 companies₹3,106.5073.801,23,430 Cr14.870.30%17.79%22.63%11,823 Cr1,427 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live 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. How it works →

As of 2026-10-28
v2.0.0
36 Poor
Overall score
Data confidence 98/100

Category scores

Quality Average 51
Returns, margins, earnings quality 22%
Valuation Poor 35
Cheap vs sector & own history 24%
Growth Poor 25
Sales & profit trajectory 9%
Financial Health Poor 24
Solvency, leverage, coverage 9%
Momentum Poor 27
Trend strength, vol-adjusted 12%
Ownership Poor 31
FII/DII/promoter flows 24%

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

Key Insights

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

Oscillators

BearishNeutralBullish

Bullish

Bearish
0
Neutral
7
Bullish
2

Overall

BearishNeutralBullish

Bearish

Bearish
7
Neutral
7
Bullish
5

Moving Averages

BearishNeutralBullish

Bearish

Bearish
7
Neutral
0
Bullish
3
Analyst Rating
Based on 1 analysts
BUY SHARE100%

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

Updated 28 Oct 2026

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

Growth Rate

Revenue Growth
7.21% lower than 3Y

change over 1 year

Net Income Growth
30.97% lower than 3Y

change over 1 year

Cash Flow Change
-69.49%

change over 1 year

EBITDA Margin Change
28.86%

change over 1 year Operating margin 3.27% · Jun 2026

Analyst Forecasts

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

Quarterly Results

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
5.26
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 (₹)
0.61
0.48
0.32
0.13
0.42
0.26
0.31
-0.04
1.22
0.41
Figures in ₹ Crores

Profit & Loss

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%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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
Figures in ₹ Crores

Ratios

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 + investor summaries across FY23–FY27.

Shareholding Pattern

FIIs0.32%Promot.62.52%Others7.59%DIIs9.14%Public20.43%As ofSep 2026
2.55% of promoter holding pledged as of Sep 2026

Documents

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 ₹1,865 Cr as of 28 Oct 2026, 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 84.84 as of 28 Oct 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 28 Oct 2026.
Does Bajel Projects Ltd pay dividends?
Bajel Projects Ltd has a dividend yield of 0.36%.
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
Shares Outstanding 11,56,96,935

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