Announcement under Regulation 30 (LODR) - Investor Presentation
BAJEL · price
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Bajel Projects, a Bajaj Group company listed in December 2023, reported its highest-ever EBITDA of ₹125 crore (up 38% YoY) and PAT of ₹27 crore (up 74% YoY) for FY26. Revenue from operations grew 7% to ₹2,792 crore. EBITDA margins expanded from 3.4% to 4.4%, reflecting a deliberate shift toward quality earnings and selective execution of high-value projects. Q4 alone saw PBT surge 193% year-on-year to ₹19 crore. The company commissioned ~1,168 ckm of transmission lines, representing approximately 10% of India's total new transmission lines in FY26. The unexecuted order book stands at ₹3,442 crore as of March 31, 2026. Post year-end, Bajel bagged a ₹300+ crore Bellary-Davanagere transmission line, a ₹300+ crore 765kV AIS substation in Pune, and a first ₹400+ crore ultra-mega order from a MENA region client. A 50:50 JV was signed with Saudi Arabia's Al-Sharif Group for GCC market expansion, alongside a collaboration with NIIF and AnantGrid for domestic transmission project development. A ₹170 crore capex will expand galvanization capacity to 110,000 MTPA.
Strong operational execution with margin expansion signals improving profitability. The ₹3,442 crore order book and recent ₹1,000+ crore in new orders post-March provide multi-year revenue visibility, while the Saudi JV and international wins expand the geographic footprint beyond India.