Bajel Projects Limited

BSE: BAJEL544042ISIN INE0KQN01018

Industrials
Heavy Electrical Equipment
BSE 1000

Share price

₹165.55+6.25 (+3.92%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹215.95
52W low: ₹135.80
Off 52W high: -23.34%
1M return: +1.25%
3M return: -9.95%
6M return: -8.91%
1Y return: -10.87%
20D avg volume: 21,754
50 DMA: ₹170.96
200 DMA: ₹174.06

Key ratios Consolidated

Market cap: ₹1,916 Cr
Current price: ₹165.55
52W high / low: ₹215.95 / ₹135.80
Face value: ₹2.00
P/E: 86.87
P/B: 2.56
EPS (TTM): ₹1.91
Book value / share: ₹64.61
ROE: —
ROCE: 12.50%
Operating margin: —
Net margin: —
Debt / equity: 0.47
Net debt: ₹326.24 Cr
Interest cover: 1.53
Dividend yield: 0.36%
Dividend / share (TTM): ₹0.60
Payout: 31.41%
Cash conversion cycle: 116.4 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q4 FY24
Income statement
	566.88	1,008	562.35	613.83	607.63	801.43	—
	5.07	6.76	4.87	6.98	8.38	6.60	—
	571.95	1,015	567.21	620.81	616.01	808.03	—
	565.07	995.97	556.62	612.83	611.56	801.70	—
	402.29	696.13	378.84	435.69	452.65	570.08	—
	0.00	0.00	0.00	0.00	0.00	0.00	—
	40.77	39.94	35.56	39.37	36.25	30.84	—
	11.78	14.31	16.22	17.02	15.87	16.95	—
	4.95	5.04	5.22	4.82	4.61	4.06	—
	130.09	207.84	133.54	130.55	104.65	175.40	—
	6.88	18.56	10.60	7.98	4.45	6.33	—
	0.00	0.00	-7.72	0.00	0.00	0.00	—
	6.88	18.56	2.88	7.98	4.45	6.33	—
	2.33	2.84	0.89	2.03	1.13	1.51	—
	4.73	14.14	-0.42	3.60	2.96	4.82	—
	0.41	1.22	-0.04	0.31	0.26	0.42	—
Key metrics
	23.61	37.91	24.32	29.82	24.93	27.34	—
	4.20%	3.80%	4.30%	4.90%	4.10%	3.40%	—
	0.80%	1.40%	-0.10%	0.60%	0.50%	0.60%	—
	—	4.20%	—	3.40%	—	3.30%	—
	-6.70%	25.70%	—	—	—	—	—
	59.80%	193.40%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	2,751	2,792	2,598	—
	23.68	26.98	30.90	—
	2,774	2,819	2,629	—
	2,730	2,777	2,605	—
	1,913	1,934	1,981	—
	0.00	0.00	0.00	—
	155.64	151.11	120.40	—
	59.33	63.42	53.51	—
	20.03	19.69	12.68	—
	602.02	606.27	450.94	—
	44.02	41.58	23.97	—
	-7.72	-7.72	0.00	—
	36.30	33.86	23.97	—
	8.09	6.90	8.51	—
	22.05	20.28	15.46	—
	1.90	1.75	1.34	—
Key metrics
	115.66	116.97	90.16	—
	4.20%	4.20%	3.50%	—
	0.80%	0.70%	0.60%	—
	—	12.50%	11.10%	—
	—	7.40%	—	—
	—	31.20%	—	—
	—	-12.68	34.65	—
	—	1.04	4.47	—
	—	0.47	0.18	—
	—	326.24	65.32	—
	—	116.4	91.8	—
Balance sheet
	—	2,538	2,075	—
	—	2,119	1,557	—
	—	23.72	55.68	—
	—	1,634	970.66	—
	—	138.51	127.61	—
	—	89.74	180.89	—
	—	90.39	77.53	—
	—	881.56	444.58	—
	—	1,761	1,374	—
	—	349.96	121.00	—
	—	349.96	121.00	—
	—	0.00	0.00	—
	—	747.57	666.27	—
Cash flow
	—	21.09	69.13	—
	—	19.10	-128.13	—
	—	-72.14	68.07	—
	—	33.77	34.48	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	566.88	1,008	562.35	613.83	607.63	801.43	622.38	662.41	512.02	489.16	275.08	199.96
	5.07	6.76	4.87	6.98	8.38	6.60	7.45	5.15	11.70	18.07	0.97	2.15
	571.95	1,015	567.21	620.81	616.01	808.03	629.83	667.56	523.72	507.23	276.05	202.10
	565.07	995.97	556.62	612.83	611.56	801.70	626.40	660.80	516.26	493.13	271.36	207.52
	402.29	696.13	378.84	435.69	452.65	570.08	76.20	64.74	49.62	46.44	55.03	35.50
	0.00	0.00	0.00	0.00	0.00	0.00	394.13	479.67	346.58	321.98	133.44	106.68
	40.77	39.94	35.56	39.37	36.25	30.84	32.34	31.69	25.53	23.83	21.67	15.65
	11.78	14.31	16.22	17.02	15.87	16.95	15.45	11.93	9.19	10.07	3.97	2.16
	4.95	5.04	5.22	4.81	4.61	4.06	3.21	3.26	2.16	1.75	1.43	1.40
	130.09	207.84	133.54	130.55	104.65	175.40	49.23	47.34	52.11	49.36	33.35	24.52
	6.88	18.56	10.60	7.98	4.45	6.33	3.43	6.76	7.46	14.09	4.69	-5.42
	0.00	0.00	-7.72	0.00	0.00	0.00	—	—	—	-7.68	—	—
	6.88	18.56	2.88	7.98	4.45	6.33	3.43	6.76	7.46	6.41	4.69	-5.42
	2.33	2.84	0.89	2.03	1.13	1.51	1.97	3.10	1.93	0.66	1.33	0.98
	4.55	15.71	1.98	5.94	3.32	4.82	1.46	3.66	5.52	7.07	3.36	-4.44
	0.39	1.36	0.17	0.51	0.29	0.42	0.13	0.32	0.48	0.61	0.29	-0.39
Key metrics
	23.61	37.91	24.32	29.81	24.93	27.34	22.09	21.95	18.81	18.23	10.09	-1.86
	4.20%	3.80%	4.30%	4.90%	4.10%	3.40%	3.50%	3.30%	3.70%	3.70%	3.70%	-0.90%
	0.80%	1.60%	0.40%	1.00%	0.50%	0.60%	0.20%	0.60%	1.10%	1.40%	1.20%	-2.20%
	—	4.60%	—	3.80%	—	3.80%	—	—	—	—	—	—
	-6.70%	25.70%	-9.60%	-7.30%	18.70%	63.80%	126.30%	231.30%	—	—	—	—
	37.00%	225.90%	35.60%	62.30%	-39.90%	-31.80%	-56.50%	182.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	2,751	2,792	2,598	1,169
	23.68	26.98	30.90	25.30
	2,774	2,819	2,629	1,195
	2,730	2,777	2,605	1,183
	1,913	1,934	1,981	161.91
	0.00	0.00	0.00	687.88
	155.64	151.11	120.40	79.86
	59.33	63.42	53.51	18.53
	20.02	19.69	12.68	5.82
	602.02	606.27	450.94	132.79
	44.02	41.58	23.97	11.36
	-7.72	-7.72	0.00	-7.68
	36.30	33.86	23.97	3.68
	8.09	6.90	8.51	0.61
	28.18	26.95	15.46	4.29
	2.43	2.33	1.34	0.37
Key metrics
	115.65	116.97	90.16	28.03
	4.20%	4.20%	3.50%	2.40%
	1.02%	1.00%	0.60%	0.40%
	—	13.70%	12.50%	—
	2.12%	7.40%	122.20%	—
	112.52%	74.30%	260.40%	—
	—	-12.68	34.65	—
	—	0.78	4.47	—
	—	0.51	0.21	—
	—	326.24	65.32	—
	—	116.4	91.8	—
Balance sheet
	—	2,472	1,993	—
	—	2,119	1,557	—
	—	23.72	55.68	—
	—	1,634	970.66	—
	—	138.51	127.61	—
	—	89.74	180.89	—
	—	90.39	77.53	—
	—	881.56	444.58	—
	—	1,761	1,374	—
	—	349.96	121.00	—
	—	349.96	121.00	—
	—	0.00	0.00	—
	—	681.26	584.66	—
Cash flow
	—	21.09	69.13	—
	—	19.10	-128.13	—
	—	-72.14	68.07	—
	—	33.77	34.48	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +2.12%
Profit YoY (TTM): +112.52%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): —
Profit YoY (TTM): —

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 62.51%

Quarter	September 2026	June 2026
Promoter %	62.51%	62.51%

Holder	Type	Holding	Previous	Change
Jamnalal Sons Private Limited	Promoter Group	19.49%	19.49%	0.00%
Bajaj Holdings And Investment Ltd	Promoter Group	16.54%	16.54%	0.00%
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund	Public	9.00%	9.01%	-0.01%
Kiran Bajaj	Promoter Group	6.52%	6.52%	0.00%
Geetika Bajaj	Promoter Group	1.87%	1.87%	0.00%
Vanraj Bajaj	Promoter Group	1.59%	1.59%	0.00%
Shekhar Bajaj	Promoter	1.57%	1.57%	0.00%
Office Bearers	Public	1.38%	0.00%	+1.38%
Pooja Bajaj	Promoter Group	1.33%	1.33%	0.00%
Baroda Industries Private Limited	Promoter Group	1.22%	1.22%	0.00%
Hind Musafir Agency Limited	Promoter Group	1.11%	1.11%	0.00%
Manish Santoshkumar Kejriwal	Promoter Group	1.07%	1.07%	0.00%
Niraj Bajaj	Promoter	0.98%	0.98%	0.00%
Vanraj Bajaj Trust (Kiran Bajaj as a Trustee)	Promoter Group	0.86%	0.86%	0.00%
Bajaj International Pvt Ltd	Promoter Group	0.79%	0.79%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Bharat Heavy Electricals Ltd.	1,47,639	424.00	51.29	6.50%	+29.08% TTM	+415.37% TTM	+58.68%
ABB India Limited S	1,43,123	6,754.00	46.67	—	+7.92% TTM	+66.43% TTM	+28.89%
CG Power and Industrial Solutions Limited	1,32,631	841.85	97.18	19.30%	+23.76% TTM	+28.33% TTM	+12.62%
HITACHI ENERGY INDIA LIMITED S	1,29,262	29,000.40	112.37	24.90%	+40.17% TTM	+127.73% TTM	+41.26%
Siemens Ltd.	1,25,176	3,515.00	42.11	20.80%	—	—	+12.74%
GE Vernova T&D India Limited S	1,09,206	4,265.10	76.00	58.50%	+41.34% TTM	+56.22% TTM	+35.57%
Siemens Energy India Limited S	1,05,412	2,960.00	70.85	26.10%	—	—	-8.69%
SUZLON ENERGY LTD.	51,481	37.45	22.79	27.00%	+33.90% TTM	-28.79% TTM	-37.58%
Thermax Ltd.	39,095	3,280.95	66.19	15.40%	+4.68% TTM	-11.68% TTM	+0.66%
SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED S	27,448	1,147.95	149.28	24.90%	+9.56% TTM	-29.50% TTM	+28.95%
TD Power Systems Ltd	23,403	728.05	85.10	30.30%	+54.29% TTM	+45.27% TTM	+77.57%
Azad Engineering Limited	16,664	2,580.35	119.64	11.50%	+28.72% TTM	+40.92% TTM	+55.76%
Triveni Turbine Limited	15,868	499.15	47.21	32.00%	+17.70% TTM	-1.90% TTM	-6.73%
KARAMTARA ENGINEERING LIMITED	12,315	382.65	—	—	+36.52% FY26	+64.18% FY26	—
Atlanta Electricals Limited	11,643	1,514.10	51.86	34.60%	—	—	+50.82%
QUALITY POWER ELECTRICAL EQUIPMENTS LIMITED	11,249	1,452.55	50.36	27.30%	+89.92% TTM	+82.64% TTM	+50.72%
Inox Wind Limited	10,986	63.57	26.34	10.40%	+17.10% TTM	-14.81% TTM	-58.92%
VOLTAMP TRANSFORMERS LIMITED S	10,133	10,015.35	31.34	22.30%	+22.89% TTM	-1.63% TTM	+35.97%
Elecon Engineering Co.Ltd.	9,841	438.55	40.22	18.60%	+2.58% TTM	-52.69% TTM	-22.35%
Transformers and Rectifiers (India) Limited	9,527	317.40	30.44	25.40%	+27.23% TTM	+23.01% TTM	-24.26%
Kanohar Electricals Limited S	8,509	941.15	—	—	—	—	—
Skipper Limited	6,581	538.95	26.79	22.20%	+16.04% TTM	+47.75% TTM	+4.65%
Powerica Ltd.	6,316	499.05	—	11.20%	—	—	—
Transrail Lighting Limited	6,115	454.60	14.60	31.90%	+14.51% TTM	+0.35% TTM	-35.99%
GE Power India Limited	4,196	624.10	15.45	47.60%	+18.73% TTM	+9.86% TTM	+106.66%
Bajel Projects Limited S	1,916	165.55	67.85	13.70%	+2.12% TTM	+112.52% TTM	-10.87%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Bajel Projects Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/11/2026 ,inter alia, to consider and approve the Unaudited Standalone And ....29 Oct 2026 · Company Update / Board Meeting Rescheduled
Bajel Projects Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/11/2026 ,inter alia, to consider and approve the Unaudited Standalone and ....28 Oct 2026 · Board Meeting / Board Meeting
Announcement under Regulation 30 (LODR) - Press Release26 Oct 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 (LODR) - Press Release26 Oct 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 (LODR) - Bagging of Award26 Oct 2026 · Company Update / Award of Order / Receipt of Order
Announcement under Regulation 30 (LODR) - Bagging of Award26 Oct 2026 · Company Update / Award of Order / Receipt of Order
Announcement under Regulation 30 (LODR) - Press Release9 Oct 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 SEBI (LODR) - Bagging of Award9 Oct 2026 · Company Update / Award of Order / Receipt of Order
Compliances-Certificate under Reg. 74 (5) of SEBI (Depository Participants) Regulation, 20189 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Scrutinizer Report of Postal Ballot through remote e-voting.5 Oct 2026 · AGM/EGM / Postal Ballot
Voting Results of Postal ballot through remote e-voting.5 Oct 2026 · AGM/EGM / Postal Ballot
Allotment of 22,050 equity shares of Rs. 2 each on exercise of options of eligible employees29 Sep 2026 · Company Update / Allotment of ESOP / ESPS
Closure of Trading Window24 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Announcement under Regulation 30 (LODR) - Intimation of Schedule of Analyst/Institutional Investor Meet10 Sep 2026 · Company Update / Analyst / Investor Meet
Announcement under Regulation 30 (LODR) - Postal ballot Notice - Newspaper Publication5 Sep 2026 · Company Update / Newspaper Publication
Postal Ballot - Notice of Postal Ballot4 Sep 2026 · AGM/EGM / Postal Ballot
Disclosure under Regulation 30 of SEBI LODR Regulation 2015 - Grant of 2,84,000 (Two Lakh Eighty Four Thousand Only) Stock Option Scheme under ESOP 2024.1 Sep 2026 · Company Update / General
Revised - Announcement under Regulation 30 (LODR)-Retirement31 Aug 2026 · Company Update / Retirement
Announcement under Regulation 30 (LODR) - Change in Management31 Aug 2026 · Company Update / Retirement
Announcement under Regulation 30 (LODR) - Press Release21 Aug 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 (LODR)- Press Release.12 Aug 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 (LODR)- Bagging of Award12 Aug 2026 · Company Update / Award of Order / Receipt of Order
Disclosure of Voting Results of the 4th Annual General Meeting ("AGM") of Bajel Projects Limited.10 Aug 2026 · AGM/EGM / AGM
Summary of proceeding of the 4th Annual General Meeting ("AGM") of the Members of Bajel Projects Limited ("Company") held on August 10, 2026.10 Aug 2026 · AGM/EGM / AGM
Announcement under Regulation 30 (LODR)- Press Release10 Aug 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 (LODR)- Bagging of order for Transmission Line.8 Aug 2026 · Company Update / Award of Order / Receipt of Order
Disclosure under Regulation 30 of SEBI Regulation 2015- Bagging of award for Transmission Line8 Aug 2026 · Company Update / Award of Order / Receipt of Order
Announcement under Regulation 30 (LODR)-Investor Presentation7 Aug 2026 · Company Update / Investor Presentation
Announcement under Regulation 30(LODR) - Press Release7 Aug 2026 · Company Update / Press Release / Media Release
Results- Financial Unaudited Results Q-1 FY 26-277 Aug 2026 · Result / Financial Results
Approval of the Unaudited Standalone & Consolidated Financial Results of the Company for the first quarter ended June 30, 20267 Aug 2026 · Board Meeting / Outcome of Board Meeting
Announcement under Regulation 30 (LODR) - Credit Rating6 Aug 2026 · Company Update / Credit Rating
Bajel Projects Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/08/2026 ,inter alia, to consider and approve the unaudited standalone and ....31 Jul 2026 · Board Meeting / Board Meeting
Announcement under Regulation 30 (LODR)-Press Release22 Jul 2026 · Company Update / Press Release / Media Release
Announcement under Regulation 30 (LODR) - Incorporation of a Wholly Owned Subsidiary Company19 Jul 2026 · Company Update / General
Announcement under Regulation 30 (LODR) - Newspaper Publication18 Jul 2026 · Company Update / Newspaper Publication
Announcement under Regulation 30 - Annual Report17 Jul 2026 · Company Update / General
Intimation under Regulation 30 of the SEBI (LODR) Regulations, 201517 Jul 2026 · Company Update / General
Business Responsibility and Sustainability Reporting (BRSR)17 Jul 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Notice of the 4th Annual General Meeting of Bajel Projects Limited.17 Jul 2026 · AGM/EGM / AGM

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 0.6000	31 Jul 2026	31 Jul 2026	—

Board meetings

6 Nov 2026 Board Meeting - Financial Results
4 Nov 2026 Board Meeting - Financial Results
7 Aug 2026 Board Meeting - Financial Results