Announcement under Regulation 30 (LODR) - Change in Management
BAJEL · price
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On the reaction day the stock moved 6.6 pts more than Nifty Microcap 250 and 7.6 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bajel Projects Limited held its Board meeting on May 27, 2026, approving audited financial results for Q4 and FY2026. Standalone profit before tax stood at Rs. 3,385.60 lakhs while consolidated profit before tax was Rs. 2,717.94 lakhs (after share of loss from joint ventures of Rs. 667.66 lakhs). The Board recommended a final dividend of Rs. 0.60 per share (30% of face value) for FY2026, payable after August 11, 2026. Mr. Ajay Nagle relinquished his role as Company Secretary & Chief Compliance Officer from May 27, 2026 (retiring from services 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. The company also proposed increasing its borrowing limits from Rs. 3,500 crore to Rs. 5,000 crore.
The leadership changes signal normal succession planning at the board level. The dividend declaration and strong financial performance are positive signals for shareholders. The arbitration proceedings against three customers for recovering Rs. 8,596 lakhs outstanding remain an outstanding risk factor.