Bajel Projects

Mumbai, India Founded: 2022 • Age: 4 yrs Listed
Power transmission and distribution solutions are provided internationally.
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About Bajel Projects

Bajel Projects is a publicly listed company based in Mumbai (India) founded in 2022. Power transmission and distribution solutions are provided internationally. The company has 937 employees. Its chief executive, as recorded, is Rajesh Ganesh. Its Indian entity Bajel Projects Limited reported revenue of ₹2,819 Cr. Bajel Projects offers products and services including Power Transmission Services and Power Distribution Services. Its focus areas include Energy.

Company details

Bajel Projects was established in 2022 in Mumbai, India, within the energy sector. Power transmission and distribution solutions are delivered through international engineering, procurement, and construction services. Monopoles for transmission lines are manufactured, along with transmission line towers and various fabricated structures. Operations focus on infrastructure support for power networks, serving global requirements from the Indian base.

  • Headquarters Mumbai, India
  • Employees 937
  • Stage Public
  • Sectors
    Energy & Utilities
  • Email
    ••••••••
  • Website bajelprojects.com
  • Social LinkedIn X Facebook
  • Legal Name Bajel Projects Limited
Operational Areas
Energy & Utilities → Power Transmission & Distribution
Key Metrics
  • Market Cap
    ₹1,829 Cr

    BAJEL · NSE

  • Share Price
    ₹161.00

    +1.86% today

  • Revenue
    ₹2,792 Cr

    FY 2025-26 · +7.4% YoY

  • EBITDA
    ₹93.48 Cr

    Margin 3.4%

  • Net Profit
    ₹28.98 Cr

    FY 2025-26 · +49.1% YoY

  • P/E (TTM)
    63.9x

    P/B 2.7x

  • ROE
    4.1%

    ROCE 10.8%

  • Debt / Equity
    0.53

    Interest cover 99.7x

  • Employee Count
    937

Products & Services of Bajel Projects

Bajel Projects offers a comprehensive portfolio of products and services, including Power Transmission Services and Power Distribution Services.

Power Transmission Services
Engineering Services

Services for transmission lines and substations up to 765 kV are provided by Bajel Projects Limited.

Power Distribution Services
Infrastructure Services

Services for rural electrification and distribution substations up to 33 kV are provided by Bajel Projects Limited.

Board of directors of Bajel Projects Limited (Bajel Projects)

Bajel Projects Limited is the primary company behind Bajel Projects. The board of Bajel Projects Limited currently have 8 directors; the longest-serving is Shekhar Bajaj, appointed in 2022. 3 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Shekhar Bajaj
DIN 00089358
Director19 Jan 20224 yrs 9 moBajel Projects Limited
Rajendra Prasad Singh
DIN 00004812
Director28 Aug 20233 yrs 2 moBajel Projects Limited
Radhika Madhukar Dudhat
DIN 00016712
Director28 Aug 20233 yrs 2 moBajel Projects Limited
Maneck Eruch Davar
DIN 01990326
Director28 Aug 20233 yrs 2 moBajel Projects Limited
Ajay Suresh Nagle
DIN 00773616
Whole-time director01 Sep 20233 yrs 2 moBajel Projects Limited
Rajesh Ganesh
DIN 07008856
Managing Director18 Sep 20233 yrs 1 moBajel Projects Limited
Sudarshan Sampathkumar
DIN 01875316
Director22 May 20251 yr 5 moBajel Projects Limited
Pooja Bajaj
DIN 08254455
Additional Director27 May 20265 moBajel Projects Limited

People of Bajel Projects

31 people are tracked at Bajel Projects (14 in leadership, 17 in team); the tracked headcount is 937.

NameRoleGroup
Rajesh Ganesh
CEO & Managing DirectorLeadership
Kinjal Gandhi
Assistant General ManagerLeadership
Nawin Chandra
CHRO & Head - Ir,csa & CSRLeadership
Aashika Salunkhe
Head - Talent Management, Compensation & BenefitsLeadership
Suchitra Maharana
Head - Legal Risk & ContractsLeadership
Binda Misra
Chief Financial OfficerLeadership
Anupam Srivastav
General ManagerLeadership
Rohin Dhar
BU Head-internationalLeadership
Arpit Srivastava
Assistant General ManagerLeadership
Vikas Gupta
Vice President & Chief Information OfficerLeadership
Prashant Nalawade
Vertical Head -supply Chain ManagementLeadership
Swapnil Kumar
General Manager- Ir, Compliance & AdministrationLeadership
Monal Wagh
Head-bd & Estimations ( Monopoles)Leadership
Yogesh Niljikar
Plant HeadLeadership
Dileep Kumar
Asst. ManagerTeam
Atul Yadav
Senior Manager-project ControlsTeam
Gaurav Kumar Bhaskar
Deputy Project ManagerTeam
Sandip Ghayalkar
AGMTeam
Mansi Ghosh
AGM - Project ControlTeam
Pritesh Dixit
Procurement ManagerTeam

11 more people are available in the full profile.

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Complete people profiles for Bajel Projects

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IPO & Listings of Bajel Projects

Bajel Projects is a publicly listed company on the NSE with ticker symbol BAJEL in India, operating in the Industrial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date22 Dec 2023
  • Listed onBSE: 544042
  • Listed entityBajel Projects Limited
  • Exchange sectorIndustrial services
  • ISININE0KQN01018
  • Share price₹158.41 (+1.29% on the day) · 2026-10-14
  • Market capitalisation₹1,813 Cr
  • Price to earnings83.2
  • EPS (diluted, trailing year)₹1.90
  • Dividend yield0.38%
  • Volume (last session)127,085

Financials of Bajel Projects

Exchange-reported figures of Bajel Projects Limited, the listed company behind Bajel Projects (NSE: BAJEL).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹2,792 Cr
+7.4% YoY
EBITDA
₹93.48 Cr
+42.0% YoY
Profit After Tax
₹28.98 Cr
+49.1% YoY
Net Worth
₹748 Cr
+12.2% YoY
Total Assets
₹1,133 Cr
+7.1% YoY
Total Debt
₹367 Cr
-2.3% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24
Income statement
Revenue2,7922,5981,169
Revenue growth+7.4%+122.2%-
EBITDA93.4865.838.30
EBITDA margin+3.4%+2.5%+0.7%
Profit before tax27.1723.993.68
Net profit28.9819.445.10
Net profit margin+1.0%+0.8%+0.4%
EPS (₹)1.751.340.37
Balance sheet
Total assets1,1331,058598
Net worth748666566
Total debt36737614.91
Cash & bank183268153
Net working capital714540354
Cash flow
Cash from operations21.0969.13195
Cash from investing19.10(128)(135)
Cash from financing(72.14)68.07(14.58)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue5145671,008562614608801622
Revenue growth (YoY)-16.3%-6.7%+25.8%-9.7%-7.3%+18.7%--
Other income6.995.266.764.876.988.386.607.45
EBITDA18.2918.5430.5817.0420.4916.2020.7314.65
EBITDA margin+3.7%+3.3%+3.1%+3.1%+3.4%+2.7%+2.6%+2.4%
Depreciation5.334.956.045.224.814.614.063.21
Interest11.8211.7814.3116.2217.0215.8716.9515.45
Profit before tax8.137.0716.990.475.644.106.323.44
Tax2.002.332.840.892.041.141.511.97
Net profit6.134.7414.15(0.42)3.602.964.811.47
EPS (₹)0.530.411.22(0.04)0.310.250.420.13
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Income statement
Revenue2,7922,5981,169664
Revenue growth+7.4%+122.2%+76.2%-
EBITDA10065.838.30(30.61)
EBITDA margin+3.6%+2.5%+0.7%-4.6%
Profit before tax33.8523.993.68(0.28)
Net profit37.3819.445.10(4.01)
Net profit margin+1.3%+0.8%+0.4%-0.6%
EPS (₹)2.331.340.37(0.14)
Balance sheet
Total assets1,067976598570
Net worth681585566557
Total debt36737614.910.72
Cash & bank1832681530.65
Net working capital714540354425
Cash flow
Cash from operations21.0969.13195(0.10)
Cash from investing19.10(128)(135)0.00
Cash from financing(72.14)68.07(14.58)0.50
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue5145671,008562614608801622
Revenue growth (YoY)-16.3%-6.7%+25.8%-9.7%-7.3%+18.7%--
Other income6.675.076.764.876.988.386.607.45
Total expenses496548977543591591781608
EBITDA18.2918.5431.1519.4522.8316.5620.7314.65
EBITDA margin+3.7%+3.3%+3.1%+3.5%+3.8%+2.8%+2.6%+2.4%
Depreciation5.334.955.045.224.814.614.063.21
Interest11.8211.7814.3116.2217.0215.8716.9515.45
Profit before tax7.816.8818.562.887.984.466.323.44
Tax2.002.332.840.892.041.141.511.97

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 11 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue5145671,008562614608801622
Revenue growth (YoY)-16.3%-6.7%+25.8%-9.7%-7.3%+18.7%--
Other income6.995.266.764.876.988.386.607.45
EBITDA18.2918.5430.5817.0420.4916.2020.7314.65
EBITDA margin+3.7%+3.3%+3.1%+3.1%+3.4%+2.7%+2.6%+2.4%
Depreciation5.334.956.045.224.814.614.063.21
Interest11.8211.7814.3116.2217.0215.8716.9515.45
Profit before tax8.137.0716.990.475.644.106.323.44
Tax2.002.332.840.892.041.141.511.97
Net profit6.134.7414.15(0.42)3.602.964.811.47
EPS (₹)0.530.411.22(0.04)0.310.250.420.13
ParticularsFY 2025-26FY 2024-25FY 2023-24
Revenue2,7922,5981,169
Revenue growth+7.4%+122.2%-
Other income26.9830.9025.30
Total expenses2,6982,5321,161
Employee cost15112079.86
EBITDA93.4865.838.30
EBITDA margin+3.4%+2.5%+0.7%
Depreciation19.6912.685.82
Interest73.6060.0624.10
Profit before tax27.1723.993.68
Tax6.918.51(0.61)
Net profit28.9819.445.10
Net profit margin+1.0%+0.8%+0.4%
EPS (₹)1.751.340.37
ParticularsFY 2025-26FY 2024-25FY 2023-24
Equity & liabilities
Share capital23.1423.1223.06
Reserves & surplus724643543
Shareholders' funds (net worth)748666566
Minority interest0.000.000.00
Secured loans31.001000.00
Unsecured loans33627614.91
Total debt36737614.91
Total liabilities1,1331,058598
Assets
Gross block188167128
Net block10898.4169.44
Capital work in progress6.980.000.00
Investments66.3181.612.72
Inventories139128101
Sundry debtors1,634971607
Cash & bank balances183268153
Loans & advances163191237
Total current assets2,1191,5571,098
Total current liabilities1,4051,017745
Net working capital714540354
Total assets1,1331,058598
ParticularsFY 2025-26FY 2024-25FY 2023-24
Opening cash55.6846.610.65
Net cash from operating activities21.0969.13195
Net cash from investing activities19.10(128)(135)
Net cash from financing activities(72.14)68.07(14.58)
Net change in cash(31.96)9.0745.96
Closing cash183268153
ParticularsFY 2025-26FY 2024-25FY 2023-24
Growth
Sales growth+7.4%+122.2%-
EBITDA growth+42.0%+693.1%-
PBT growth+13.3%+551.9%+9997.0%
Net income growth+49.1%+281.2%-
Profitability & leverage
Net income margin+0.7%+0.6%+0.4%
Return on capital employed+10.8%+11.3%+5.9%
Return on net worth+4.1%+3.2%+0.9%
Debt / equity0.530.320.03
Long-term debt / equity0.020.020.02
Interest cover99.74113.00971.77
Efficiency & per share
Fixed asset turnover15.7017.629.15
Inventory turnover20.9822.7311.57
Debtors turnover2.143.291.93
EPS (₹)1.751.340.37
Dividend per share (₹)0.600.000.00
Book value per share (₹)64.6157.6349.11
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue5145671,008562614608801622
Revenue growth (YoY)-16.3%-6.7%+25.8%-9.7%-7.3%+18.7%--
Other income6.675.076.764.876.988.386.607.45
Total expenses496548977543591591781608
EBITDA18.2918.5431.1519.4522.8316.5620.7314.65
EBITDA margin+3.7%+3.3%+3.1%+3.5%+3.8%+2.8%+2.6%+2.4%
Depreciation5.334.955.045.224.814.614.063.21
Interest11.8211.7814.3116.2217.0215.8716.9515.45
Profit before tax7.816.8818.562.887.984.466.323.44
Tax2.002.332.840.892.041.141.511.97
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Revenue2,7922,5981,169664
Revenue growth+7.4%+122.2%+76.2%-
Other income26.9830.9025.3054.27
Total expenses2,6912,5321,161694
Employee cost15112079.86102
EBITDA10065.838.30(30.61)
EBITDA margin+3.6%+2.5%+0.7%-4.6%
Depreciation19.6912.685.826.28
Interest73.6060.0624.1017.66
Profit before tax33.8523.993.68(0.28)
Tax6.918.51(0.61)1.31
Net profit37.3819.445.10(4.01)
Net profit margin+1.3%+0.8%+0.4%-0.6%
EPS (₹)2.331.340.37(0.14)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Equity & liabilities
Share capital23.1423.1223.0623.02
Reserves & surplus658562543534
Shareholders' funds (net worth)681585566557
Secured loans31.001000.000.00
Unsecured loans33627614.910.72
Total debt36737614.910.72
Total liabilities1,067976598570
Assets
Gross block188167128102
Net block10898.4169.4447.63
Capital work in progress6.980.000.000.81
Investments0.000.002.720.00
Inventories13912810188.47
Sundry debtors1,634971607369
Cash & bank balances1832681530.65
Loans & advances163191237331
Total current assets2,1191,5571,098790
Total current liabilities1,4051,017745365
Net working capital714540354425
Total assets1,067976598570
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Opening cash55.6846.610.650.00
Net cash from operating activities21.0969.13195(0.10)
Net cash from investing activities19.10(128)(135)0.00
Net cash from financing activities(72.14)68.07(14.58)0.50
Net change in cash(31.96)9.0745.960.40
Closing cash1832681530.65
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Growth
Sales growth+7.4%+122.2%+76.2%-
EBITDA growth+52.2%+693.1%+127.1%-
PBT growth+41.1%+551.9%+9998.0%+9997.0%
Net income growth+92.3%+281.2%+227.2%-
Revenue CAGR (3Y)+61.4%---
Profitability & leverage
Net income margin+1.0%+0.6%+0.4%-0.2%
Return on capital employed+12.2%+11.9%+6.0%0.0%
Return on net worth+5.9%+3.4%+0.9%0.0%
Debt / equity0.590.340.010.00
Long-term debt / equity0.020.020.010.00
Interest cover91.46113.00971.77-47.87
Efficiency & per share
Fixed asset turnover15.7017.6210.180.00
Inventory turnover20.9822.7312.340.00
Debtors turnover2.143.292.390.00
EPS (₹)2.331.340.37(0.14)
Dividend per share (₹)0.600.000.000.00
Book value per share (₹)58.8850.5849.1148.42

Web traffic of Bajel Projects

The website of Bajel Projects (bajelprojects.com) receives about 6.6K visits a month.

  • Monthly visits
    6.6K

    ▲ 118.4% vs previous month

Top companies in Power Transmission & Distribution

3 companies that operate in the same segment as Bajel Projects (Power Transmission & Distribution) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
TSSPDCL
Power distribution and secure services in Telangana.
2014Hyderabad, Telangana, IndiaUSD 4.12 B16,102
KRYFS
Single- and three-phase transformers are manufactured in Mumbai.
1993Mumbai, Maharashtra, IndiaUSD 114.37 M618
Sterlite Power
Electricity transmission utility projects are developed in India.
2010Mumbai, Maharashtra, IndiaUSD 167.58 MUSD 603.94 M
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Related news about Bajel Projects

BAJEL: Q2 SL NET PROFIT 58M RUPEES VS 59M (YOY)
Exchange Update • 5 days ago
BAJEL: Q2 EBITDA 183M RUPEES VS 228M (YOY); Q2 EBITDA MARGIN 3.56% VS 3.72% (YOY)
Exchange Update • 5 days ago
Bajel Projects: Secures About ₹200 Crore EPC Contract For 400 KV GIS Substations In Mumbai.
Exchange Update • 16 days ago
Bajel Projects: Gets Major EPC Order For 220 KV GIS Substation From Tata Power; Covers Salsette And Powai Stations; Completion Anticipated In 18 Months.
Exchange Update • 1 month ago
Bajel Projects: Company Secures Significant EPC Contract Exceeding ₹200 Crore For 220kV GIS Substations In Salsette And Powai, Mumbai.
Exchange Update • 1 month ago
Bajaj Group's Bajel Projects skips the elephant dance, opts for a steady walk | Company Business News
mint • 2 months ago
Bajel Projects Says Anantgrid Projects Declared Successful Bidder For Lakadia Part A Inter-State Transmission Project
Reuters • 2 months ago
Bajel Projects Wins Ultra-Mega Order Worth Over 6 Billion Rupees For 765Kv Transmission Line
Reuters • 3 months ago
Bajel Projects wins ₹600 crore+ order for 765kV transmission lines in Chhattisgarh - CNBC TV18
CNBCTV18 • 3 months ago
Bajel Projects gains after securing ultra mega EPC order | Capital Market News - Business Standard
Business Standard • 3 months ago
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Frequently Asked Questions about Bajel Projects

Bajel Projects was founded in 2022.

Bajel Projects is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Rajesh Ganesh is the CEO of Bajel Projects, as recorded in our data.

Bajel Projects has 937 employees.

The primary company behind Bajel Projects, Bajel Projects Limited, reported revenue of ₹2,819 Cr for FY 2026, up 7% year on year.

Bajel Projects was established in 2022 in Mumbai, India, within the energy sector. Power transmission and distribution solutions are delivered through international engineering, procurement, and construction services. Monopoles for transmission lines are manufactured, along with transmission line towers and various fabricated structures. Operations focus on infrastructure support for power networks, serving global requirements from the Indian base.

Bajel Projects offers Power Transmission Services and Power Distribution Services.

Yes, Bajel Projects is publicly traded on NSE under the ticker symbol BAJEL.

Bajel Projects operates through Bajel Projects Limited.

The legal entities of Bajel Projects currently have 10 directors, including Shekhar Bajaj, Ajay Suresh Nagle, Sudarshan Sampathkumar and others.

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