Announcement under Regulation 30 (LODR) - Appointment of Non-Executive & Non-Independent Director
BAJEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bajel Projects Ltd held its Board meeting on May 27, 2026, approving multiple items. The company reported FY2026 standalone revenue of Rs. 79,572 Lakhs and consolidated revenue of Rs. 79,158 Lakhs. Standalone profit for the year was Rs. 15,464 Lakhs (EPS Rs. 13.38), while consolidated profit was Rs. 2,077 Lakhs (EPS Rs. 17.50). The Board recommended a dividend of Rs. 0.60 per share (30% of face value Rs. 2) for FY2026, payable after August 11, 2026. Mr. Ajay Nagle stepped down as Company Secretary and Chief Compliance Officer effective May 27, 2026 (he retires as Executive Director on August 31, 2026), with Ms. Amee Joshi appointed as his successor. Mrs. Pooja Bajaj was appointed as an Additional Non-Executive Non-Independent Director, subject to shareholder approval at the 4th AGM scheduled for August 7, 2026. The Board also approved increasing borrowing limits from Rs. 3,500 crore to Rs. 5,000 crore. The company has ongoing arbitration proceedings for recovery of Rs. 8,596 Lakhs from three customers.
Positive signals include dividend declaration and appointment of new directors. However, the significant drop in consolidated profit (from standalone profit of Rs. 15,464 Lakhs to consolidated profit of Rs. 2,077 Lakhs) indicates substantial losses from joint ventures that shareholders should monitor closely.