Bajel Projects Ltd
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.
- Market Cap ₹ 2,546 Cr.
- Current Price ₹ 220
- High / Low ₹ 330 / 145
- Stock P/E 165
- Book Value ₹ 57.6
- Dividend Yield 0.00 %
- ROCE 11.2 %
- ROE 2.51 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 3.82 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Earnings include an other income of Rs.30.9 Cr.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 1,169 | 2,598 | |
| 1,159 | 2,539 | |
| Operating Profit | 10 | 59 |
| OPM % | 1% | 2% |
| 18 | 31 | |
| Interest | 19 | 54 |
| Depreciation | 6 | 13 |
| Profit before tax | 4 | 24 |
| Tax % | -17% | 35% |
| 4 | 15 | |
| EPS in Rs | 0.37 | 1.34 |
| Dividend Payout % | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
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| 3 Years: | % |
| TTM: | 122% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 54% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -29% |
| Return on Equity | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Equity Capital | 23 | 23 |
| Reserves | 543 | 643 |
| 15 | 140 | |
| 762 | 1,269 | |
| Total Liabilities | 1,343 | 2,075 |
| 69 | 98 | |
| CWIP | 0 | 0 |
| Investments | 3 | 82 |
| 1,271 | 1,895 | |
| Total Assets | 1,343 | 2,075 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 195 | 69 | |
| -135 | -128 | |
| -15 | 68 | |
| Net Cash Flow | 46 | 9 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Debtor Days | 190 | 136 |
| Inventory Days | 42 | 24 |
| Days Payable | 201 | 145 |
| Cash Conversion Cycle | 31 | 15 |
| Working Capital Days | 63 | 6 |
| ROCE % | 11% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - Bajel Projects wins Rs.400 Cr+ ultra-mega EPC order for 138 km 400kV transmission line, 29-month project.
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Presentation On The Financial Results Of Bajel Projects Limited For The Fourth Quarter And Financial Year Ended March 31, 2025
6 Jun - Bajel Projects FY25 financial results presentation with company overview and key projects.
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ESOP Grant
3 Jun - Grant of 240,000 stock options under Bajel Projects ESOP 2024 at ₹133.71 exercise price.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 27 May
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Compliances-Reg.24(A)-Annual Secretarial Compliance
26 May - Annual Secretarial Compliance Report for FY ended March 31, 2025 confirming regulatory adherence.
Promoter Group
The company is a part of the Bajaj Group, India's third-largest group by market capitalization, operating in industries like Financial Services, Automobiles, Consumer Appliances, EPC, Steel, Insurance, Material Handling, Tours & Travels, etc, with a $167+ Bn market cap. It has 40+ group companies, 100,000+ employees, and a presence in 70+ countries. [1]