BAJEL PROJECTS LIMITED

Builds power transmission infrastructure on an EPC basis for utilities in India and, increasingly, the Middle East. The core business is Power Transmission, which contributed 83.58% of FY26 turnover and covers overhead transmission lines and EHV substations; the remaining share covers allied distribution, substation and related infrastructure work. In FY26, the company commissioned 1,168 ckm of transmission lines — roughly 10% of India's total additions — and held an order book of Rs 3,442 crore. Overseas, it has signed a Rs 400 crore-plus agreement with Egypt's EETC for two sections of a 500 kV line, incorporated a new Abu Dhabi subsidiary for EPC work in the UAE, and operates a Saudi JV with Al Sharif Group. Manufacturing and assembly is centred at the Ranjangaon facility, which holds ISO 9001, 14001, 45001 and 3834-2 certifications, backed by 1,580 employees and 5,198 workers. Materials are the dominant cost at 69.3% of revenue, followed by other operating expenses at 21.7% and employee costs at 5.4%, with FY26 depreciation at 0.7% of revenue and capex at 1.2%.