Bajel Projects Ltd (BAJEL) — shareholding pattern, promoter holding, financials and share price
About Bajel Projects Ltd (BAJEL)
Bajel Projects Ltd operates in the Heavy Electrical Equipment industry, within the Capital Goods sector. It trades on the NSE as BAJEL and on the BSE under scrip code 544042. Its ISIN is INE0KQN01018.
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.
Bajel Projects Limited is an engineering, procurement and construction (EPC) company focused on power transmission and distribution, providing turnkey solutions across EHV/extra-high-voltage transmission lines, AIS/GIS substations, monopoles, lattice towers, UG cabling and distribution projects, backed by an integrated manufacturing facility at Ranjangaon and a heritage originating from Bajaj Electricals post-demerger.
The company is executing a deliberate strategic pivot to 'quality of earnings' with margin-accretive project selection; EBITDA rose 38% for 9M FY’26 and Q3 FY’26 EBITDA improved to ₹32 crore (5.6% margin) despite a modest revenue contraction, highlighting improved execution efficiency and focus on profitability over volume.
Listed peers in Heavy Electrical Equipment: Exicom Tele-Systems Ltd, KP Green Engineering Ltd, Danish Power Ltd, Indosolar Ltd, Jyoti Structures Ltd, Vivid Electromech Ltd.
Valuation & Returns
10 Jul 2026At ₹189.55 a share on 10 Jul 2026, Bajel Projects Ltd (BAJEL) was valued at a price-to-earnings ratio of 108.14x against an industry P/E of 52.37x and a price-to-book of 3.29x on a book value of ₹57.59 per share as of Mar 2025. Solomo computes return on equity of 3.04% and return on capital employed of 11.24% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 108.14x
- Industry P/E
- 52.37x
- P/B
- 3.29x
- EPS (TTM)
- ₹1.75
- Book value / share
- ₹57.59
- ROE
- 3.04%
- ROCE
- 11.24%
- ROA
- 0.98%
- Debt / equity
- 0.21x
- Dividend yield
- 0.32%
- EBITDA margin
- 4.03%
- 52-week range
- ₹135.8 – ₹262
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Bajel Projects Ltd (BAJEL) reported revenue of ₹2,792 crore, net profit of ₹20 crore and earnings per share of ₹1.75. That compares with revenue of ₹2,598 crore and net profit of ₹15 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹1,008 crore and net profit ₹14 crore (consolidated).
| Metric | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue (₹ cr) | 1,169 | 2,598 | 2,792 |
| Net profit (₹ cr) | 4 | 15 | 20 |
| EPS (₹) | 0.37 | 1.34 | 1.75 |
| Measure | 1Y |
|---|---|
| Sales growth | 122.22% |
| Profit growth | 260.37% |
| Stock price CAGR | -28% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 62.53% of Bajel Projects Ltd (BAJEL) (unchanged from the previous quarter), foreign institutional investors (FII) hold 0.53% and domestic institutional investors (DII) hold 9.2%. Promoters have pledged 2.5% of their holding. Market capitalisation was ₹2,193 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Dec 2023.
Largest disclosed public shareholders in Jun 2026: Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund 9.01%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 62.53% | 2.5% | 0.53% | 9.2% | 37.47% |
| Mar 2026 | 62.53% | 2.5% | 0.51% | 9.57% | 37.47% |
| Dec 2025 | 62.53% | 2.5% | 0.4% | 9.06% | 37.47% |
| Sep 2025 | 62.55% | 2.5% | 0.67% | 8.66% | 37.45% |
| Jun 2025 | 62.57% | 2.5% | 0.32% | 10.3% | 37.43% |
| Mar 2025 | 62.58% | 2.5% | 0.31% | 9.6% | 37.42% |
| Dec 2024 | 62.59% | 2.5% | 0.29% | 9.54% | 37.41% |
| Sep 2024 | 62.61% | 2.5% | 0.49% | 8.3% | 37.39% |