BAJAJ STEEL INDS. LTD.

Manufactures industrial steel and engineering products, with Cotton Ginning Machinery contributing approximately 60% of total revenue. Other businesses include Infrastructure (Pre-Engineered Buildings) and Electrical Panels (Main LT Panels), both of which grew sharply in Q3 FY26 (Infrastructure up 73% year-on-year, Electrical Panels up 25%). A minor Plastic & Related Products segment has been wound down, contributing negligible revenue. The company holds an order book of Rs 587 Cr across all segments, with 38% of orders from non-cotton businesses, and recently secured a Rs 35 Cr order for design, engineering, manufacturing and supply of Main LT Panels. FY26 standalone revenue stood at Rs 524.2 Cr, down 10.4% year-on-year, primarily due to lower export revenues in Cotton Ginning Machinery. The biggest cost is raw materials at 53.7% of revenue, followed by other operating expenses at 23.1% and employee costs at 16.2%. The company has a US subsidiary (Bajaj Coneagle LLC) and has begun winding up its loss-making Uganda subsidiary.