MarketFriction

Bajel Projects Ltd

NSE BAJEL · BSE 544042 · Heavy Electrical Equipment
₹163.63 -0.77%
NSE close2026-10-01
52 week range135.10 - 219.64
Market cap₹1,965 Cr.
P/E72.8
Price band 20% Delivery 54.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales489.16512.01662.41622.39801.42607.64613.83562.341,007.77566.88
Expenses481.31504.91645.61607.75780.68591.45593.34537.57977.20548.34
Operating Profit7.857.1016.8014.6420.7416.1920.4924.7730.5718.54
OPM %1.60%1.39%2.54%2.35%2.59%2.66%3.34%4.40%3.03%3.27%
Other Income10.3911.705.157.456.608.386.98-2.856.765.26
Interest10.079.1911.9315.4516.9515.8717.0216.2214.3111.78
Depreciation1.752.163.263.214.064.614.815.226.044.95
Profit before tax6.427.456.763.436.334.095.640.4816.987.07
Tax %-10.28%25.91%45.86%57.43%23.85%27.87%36.17%185.42%16.73%32.96%
Net Profit7.075.523.661.464.822.963.60-0.4214.144.73
EPS in Rs0.610.480.320.130.420.260.31-0.041.220.41
Mar 2024Mar 2025Mar 2026TTM
Sales1,1692,5982,7922,751
Expenses1,1532,5232,6812,656
Operating Profit167511194
OPM %1.4%2.9%4.0%3.4%
Other Income18211016
Interest24607459
Depreciation6132021
Profit before tax4242730
Tax %-17%35%25%
Net Profit4152022
EPS in Rs0.371.341.751.90
Dividend Payout %-0%-0%34%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%%%2%
Compounded Profit Growth%%%109%
Stock Price CAGR%%%-17%
Return on Equity%%3%4%
Mar 2024Mar 2025Mar 2026
Equity Capital232323
Reserves543643724
Borrowings15376367
Other Liabilities7621,0331,424
Total Liabilities1,3432,0752,538
Fixed Assets6998108
CWIP-0-07
Investments38266
Other Assets1,2711,8952,357
Total Assets1,3432,0752,538
Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1956921
Cash from Investing Activity-135-12819
Cash from Financing Activity-1568-72
Net Cash Flow469-32
Free Cash Flow16835-13
CFO/OP1,233%91%24%
Mar 2024Mar 2025Mar 2026
Debtor Days190136214
Inventory Days422426
Days Payable201103166
Cash Conversion Cycle315774
Working Capital Days62-1323
ROCE %12%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters62.85%62.85%62.75%62.72%62.61%62.59%62.57%62.57%62.55%62.53%62.53%62.53%
FIIs10.51%10.46%0.51%0.29%0.50%0.28%0.31%0.32%0.67%0.40%0.50%0.53%
DIIs11.98%12.03%8.07%7.83%8.29%9.54%9.60%10.30%8.66%9.06%9.58%9.20%
Public14.66%14.66%28.67%29.17%28.59%27.59%27.51%26.81%28.11%28.01%27.39%27.72%
No. of Shareholders63,36362,79683,26890,10690,72589,92988,56185,93985,01383,99183,53383,063

Fundamentals

Market Cap₹ 1,965 Cr.
Current Price₹ 170
Stock P/E72.8
Book Value₹ 64.6
ROCE11.0 %
ROE4.10 %
Dividend Yield0.35 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)109%
Consolidated figures.
Ownership
Promoter holding62.53% (-0.04 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodBAJELNifty 50Difference
1 week-4.9%-2.8% -2.1 pts
1 month-12.1%-6.8% -5.3 pts
3 months-14.3%-7.6% -6.6 pts
6 months+19.2%+0.4% +18.8 pts
1 year-23.3%-9.9% -13.3 pts
2 years-31.7%-13.6% -18.2 pts
5 mutual fund schemes hold about ₹205 Cr. Over three months 3 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Small Cap Fund0.14%119 +11%
Nippon India Power & Infra Fund0.85%68 +16%
Nippon India Retirement Fund-Wealth Creation0.44%14 +16%
Bandhan Small Cap Fund0.01%3 -5%
Motilal Oswal BSE 1000 Index Fund0.00%0

Red flags

No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹567 Cr -6.7% vs Jun 2025. Net profit ₹5 Cr +59.8%.
Against our estimate for Jun 2026: sales -13.7%, profit +34.2% in line. Our estimate for Sep 2026: sales Rs 672 Cr, profit Rs 5 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Re 0.60 Per Share
DateTypeWhat it says
2026-09-29AllotmentAllotment of 22050 securities pursuant to ESOP/ESPS at its meeting held on September 29, 2026
2026-09-29General UpdatesAllotment of 22,050 equity shares of Rs.2 each on exercise of options by eligible employees
2026-09-10Concall / analyst meetSchedule of meet
2026-09-07UpdatesOutcome of the Board Meeting held on 7th August 2026 for FY 26-27 June Quarter .
2026-09-04Shareholder meetingNotice of Postal Ballot
2026-09-01General UpdatesGrant of 2,84,000 (Two Lakh Eighty Four Thousand Only) Stock Options under the Bajel Projects Limited, Employee Stock Option Plan 2024 ( ESOP 2024 /...
2026-08-31RetirementRetirement of Executive Director
2026-08-31RetirementRetirement of Executive Director
2026-08-21Press ReleaseA press release dated August 21, 2026, titled "AnantGrid Projects One Private Limited, an associate of Bajel Projects, declared Successful Bidder for ...
2026-08-12Press ReleaseA press release dated August 12, 2026.
2026-08-12Order winBagging/Receiving of orders/contracts.
2026-08-10Shareholder meetingVoting results.
2026-08-10Shareholder meetingProceedings of Annual General Meeting held on August 10, 2026
2026-08-10Press ReleaseA press release dated August 10, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-08-08Order winBagging of order for Transmission Line.
2026-08-08Order winBagging of order for Transmission Line.
2026-08-07General UpdatesInvestor Presentation
2026-08-07General UpdatesInvestor Presentation
2026-08-07Press ReleaseA press release dated August 07, 2026, titled "Press Release on the Financial Results of Bajel Projects Limited ( the Company ) for the First quarter ...
2026-08-07Board meeting outcomeBajel Projects Limited has submitted to the Exchange, the financial results for the period ended June 30, 2026.
2026-08-06Credit Rating- RevisionCredit Rating- Revision
2026-07-22Press ReleaseA press release dated July 22, 2026, titled "Press Release - Bajel Projects Limited Formalises Landmark 500 kV Transmission Line Agreement with EETC i...
2026-07-19General UpdatesIncorporation of a Wholly-Owned Subsidiary Company.
2026-07-18General UpdatesThe Newspaper publication under Regulation 30 of the SEBI Listing Regulations
2026-07-17General UpdatesIntimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Bajel Projects Ltd?

Bajel Projects Ltd (BAJEL) has a market capitalisation of Rs 1,965 Cr. at the 2026-10-01 close.

What is the P/E ratio of Bajel Projects Ltd?

Bajel Projects Ltd trades at a P/E of 72.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Bajel Projects Ltd's latest quarterly results?

In the Jun 2026 quarter, Bajel Projects Ltd sales was Rs 567 Cr (-6.7% vs Jun 2025) and net profit was Rs 5 Cr.

What is the 52-week high and low of Bajel Projects Ltd?

The 52-week high is Rs 219.64 and the 52-week low is Rs 135.10.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03