Bajel Projects reports 74% PAT growth to Rs 27 crore in FY26; announces maiden dividend

Yash Agarwal — Wed, 27 May 2026 15:11:27 +0000

Bajel Projects Limited, a Bajaj Group company, announced its audited financial results for the quarter and financial year ended 31 March 2026, delivering its strongest annual performance since listing.

The company reported standalone revenue from operations of Rs 2,792 crores for FY26, representing healthy growth over the previous year. Profit After Tax for FY26 stood at Rs 27 crores against Rs 15 crores in the previous year, reflecting a 74% year-on-year increase. Profit Before Tax and Exceptional Items for FY26 grew 73% to Rs 42 crores from Rs 24 crores, demonstrating the company’s deliberate pivot toward quality of earnings and selective high-value project execution.

For the fourth quarter of FY26, the company achieved standalone revenue from operations of Rs 1,008 crores as against Rs 801 crores in Q4 FY25, marking a 26% growth. Profit Before Tax and Exceptional Items for the quarter stood at Rs 19 crores versus Rs 6 crores in the corresponding quarter of the previous year, whilst Profit After Tax rose to Rs 16 crores from Rs 5 crores, representing a 226% increase.

Full-year EBITDA grew 38% year-on-year to Rs 125 crores versus Rs 90 crores in the previous year, with EBITDA margin expanding to 4.4% from 3.4% in FY25, highlighting increased operational efficiency. The company reaffirmed its CRISIL A/Stable and CRISIL A1 ratings in December 2025, reflecting its strong business and financial risk profiles.

In recognition of the strong performance, the Board of Directors recommended a dividend of Rs 0.60 per equity share, representing a 30% dividend payout on the face value of Rs 2.0 per share for the financial year ended 31 March 2026, subject to shareholder approval at the Annual General Meeting.

The fourth quarter witnessed significant order wins. Bajel secured an ultra-mega order valued at Rs 400 crores-plus from Maharashtra State Electricity Transmission Company Limited (MSETCL), strengthening its leadership position in domestic high-voltage transmission engineering, procurement and construction (EPC). The company also won the Mandsaur transmission project valued between Rs 100 crores and Rs 200 crores, and secured the Vindhyachal Pool order, an ultra-mega assignment valued at Rs 400 crores-plus.

Beyond domestic markets, Bajel expanded its geographic footprint through strategic partnerships. The company signed a tripartite arrangement with the National Investment and Infrastructure Fund (NIIF) and AnantGrid for developing power transmission assets alongside its core EPC business. Additionally, Bajel entered a 50:50 joint venture with Al Sharif Group to pursue power transmission and distribution opportunities in Saudi Arabia, one of the fastest-growing electricity infrastructure markets globally.

Rajesh Ganesh, Managing Director and Chief Executive Officer, Bajel Projects Limited, stated: “FY26 has been a defining year for Bajel, made even more special as we mark 100 years of the Bajaj Group. Our standalone revenue from operations grew to Rs 2,792 crores, whilst Profit After Tax grew 74% to Rs 27 crores. EBITDA expanded 38% year-on-year to Rs 125 crores, with margins moving from 3.4% to 4.4%. Coupled with landmark domestic wins and our entry into Saudi Arabia through the Al Sharif joint venture, the year sets a strong foundation for sustainable, profitable growth.”

Bajel Projects Limited operates as a leading company in power infrastructure with strong presence in the Power Transmission and Power Distribution sectors. The company was formerly part of Bajaj Electricals Limited and carries forward the beliefs and values that have guided its growth over two decades.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

National Investment and Infrastructure Fund | Business Upturn

Bajel Projects reports 74% PAT growth to Rs 27 crore in FY26; announces maiden dividend