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  7. Bajel Projects Ltd
Financial RatiosPE RatioShareholdingDividendQuarterly ResultsBalance SheetProfit & LossCash Flow

Bajel Projects Ltd Stock Price Today (NSE: BAJEL)

Bajel Projects Ltd

BAJELHeavy Electrical Equipment
₹152.31₹1.82 (1.18%)↓
As on 21 Apr 2026, 11:00 am ISTMarket Closed

Fundamental Score

...

Bajel Projects Ltd Share Price — Live NSE/BSE Price, Fundamentals & Analysis

Bajel Projects Ltd share price today is ₹152.31, down 1.18% on NSE/BSE as of 21 April 2026. Bajel Projects Ltd (BAJEL) is a Small-cap company in the Heavy Electrical Equipment sector with a market capitalisation of ₹2.07K (Cr). The 52-week high for BAJEL share price is ₹263.90 and the 52-week low is ₹135.10. At a P/E ratio of 161.23x, BAJEL is currently trading above its industry average P/E of 47.05x. The company has a Return on Equity (ROE) of 2.50% and a debt-to-equity ratio of 0.16.

Bajel Projects Ltd Share Price Chart — NSE/BSE Historical Performance

No data
High
₹0.00
Low
₹0.00
Volume
0
Change
-1.18%

Institutional Deep-Dive

Bull Run Research Hub

Live Price:₹152.31— Analysis below may reference an earlier price snapshot.

Bajel Projects Share Price: A Financial Stability Analysis

In the heavy electrical equipment sector, a critical driver of growth is the ability to efficiently manage large-scale project execution and maintain healthy working capital cycles. This is especially true given the capital-intensive nature of infrastructure projects. This analysis explores the financial stability of Bajel Projects Ltd, focusing on key indicators impacting investor perception. Currently, the Bajel Projects share price stands at ₹162.470001. A crucial metric in assessing Bajel's valuation is its Price-to-Earnings (PE) ratio.

Bajel Projects' PE ratio of 161.23 suggests a high valuation relative to its earnings. This could indicate investor optimism about future growth prospects, but it also implies a higher risk if earnings don't materialize as expected. In contrast, assessing peers is vital. Aartech Solonics Ltd may exhibit different management styles influencing their project execution, and that can be reflected in their performance metrics. For instance, the industry perception of management quality at Aartech Solonics Ltd could be stronger if they’ve demonstrated more consistent project delivery and a higher return on equity. Comparing those factors helps assess Bajel's positioning within the sector.

Return on Capital Employed (ROCE) provides insights into how effectively Bajel Projects utilizes its capital to generate profits. The reported ROCE of 12.11% indicates the company's profitability relative to the capital invested. While this shows the company is generally doing a good job managing invested capital, the figure is not dramatically high. A higher ROCE would widen the economic moat protecting the company from competitors. A relatively smaller moat means competitors can more easily take market share.

Other sector peers like Atlanta Electric and Jyoti Structures Ltd provide benchmarks for evaluating Bajel's financial performance. Comparing debt levels, order book size, and revenue growth can further contextualize the company’s financial stability. It is important to analyze these elements relative to overall market conditions and infrastructure investment trends in India. This analysis is part of a broader 80-parameter fundamental audit, verified by Sweta Mishra, offering a comprehensive overview of Bajel Projects' financial health based on publicly available data.

SM
Analysis by Sweta Mishra
SEBI Registered Research Analyst

Bajel Projects Ltd — Last 10 Trading Days

DateOpenHighLowCloseVolume
2 Apr 26₹147.30₹153.29₹147.30₹152.315.03L (Cr)
1 Apr 26₹141.92₹158.50₹141.92₹154.139.33L (Cr)
30 Mar 26₹144.10₹147.61₹135.10₹137.275.67L (Cr)
27 Mar 26₹152.00₹152.47₹143.00₹144.427.81L (Cr)
25 Mar 26₹156.75₹160.50₹151.80₹152.596.69L (Cr)
24 Mar 26₹160.00₹162.00₹154.10₹156.093.76L (Cr)
23 Mar 26₹158.54₹159.61₹150.77₹156.108.07L (Cr)
20 Mar 26₹161.00₹164.95₹159.52₹163.007.49L (Cr)
19 Mar 26₹161.55₹166.20₹158.00₹160.8710.32L (Cr)
18 Mar 26₹172.10₹175.17₹163.66₹168.0357.00L (Cr)

Bajel Projects Ltd — Last 12 Months Price History

MonthOpenHighLowCloseChange
Apr 2026₹141.92₹158.50₹141.92₹152.31+7.32%
Mar 2026₹155.00₹182.39₹135.10₹137.27-11.44%
Feb 2026₹157.00₹175.00₹150.00₹161.53+2.89%
Jan 2026₹173.20₹185.20₹142.34₹154.71-10.68%
Dec 2025₹177.80₹194.00₹163.11₹173.26-2.55%
Nov 2025₹192.88₹197.00₹173.21₹177.76-7.84%
Oct 2025₹206.00₹219.64₹184.92₹191.39-7.09%
Sept 2025₹198.05₹226.69₹185.55₹202.93+2.46%
Aug 2025₹238.00₹255.90₹192.50₹201.65-15.27%
Jul 2025₹242.00₹263.90₹222.00₹236.82-2.14%
Jun 2025₹212.03₹244.00₹200.00₹238.37+12.42%
May 2025₹170.01₹225.80₹159.48₹211.88+24.63%

AI Research Briefing

Powered by Gemini · 2026-04-09

Small-cap EPC player, expensive, needs perfect execution; liquidity a risk.

Research Confidence
6.0/10Moderate
GOVT CAPEX DARK HORSE1M: -6.48%, 3M: -11.57%, 6M: -16.75%.Expensive (P/E 161.23x vs Industry P/E 47.05x).

⚡WHAT'S HAPPENING NOW (last 2-4 weeks):

Bajel Projects secured a ₹700 crore order from MSETCL for a 400/220 kV AIS Sub-Station in Pune, to be completed in 23 months. They also received an EPC contract from Tata Power for a 220 kV transmission line project in Mumbai, expected to be completed in 10 months.

�� CORE STORY (THE REAL GAME):

Bajel Projects is an EPC player riding India's power infrastructure buildout. The story is about order book growth and execution, not just a heavy electrical equipment supplier.

�� WHAT IS DRIVING THE STOCK:

Order inflows: ₹700 crore MSETCL order and Tata Power EPC contract signal strong order book growth.

Positive Weekly Gain: The stock delivered a notable weekly gain of 5.47%, closing at ₹152.30 on April 2, 2026, outperforming the Sensex.

⚖️ BULL vs BEAR:

Bull:Order book expansion fuels revenue growth and improved profitability. Government infrastructure spending provides tailwinds.

Bear:High P/E of 161.23x vs. industry P/E of 47.05x signals valuation risk. Q3 FY26 saw a 9.9% YoY decline in consolidated revenues and a 128.8% YoY decrease in net profit. Small-cap exposes to liquidity risk.

�� WHAT MARKET IS PRICING:

The market is pricing in continued order wins and a turnaround in profitability. If order execution falters or competition intensifies, the stock will correct sharply.

�� BOTTOM LINE:

Bajel Projects is a small-cap EPC player with high valuation, dependent on continued order wins and flawless execution. Liquidity a risk.

Why Now
  • ₹700 crore MSETCL order win
  • Tata Power EPC contract
  • Positive weekly gain
Potential Catalysts
  • Further order wins
  • Improved quarterly results
  • Infrastructure spending boost
Key Risks
  • High valuation (P/E 161.23x)
  • Small-cap liquidity risk
  • Q3 FY26 revenue and profit decline
Institutional Activity

FII increased holdings slightly (Δ 0.35%), DII decreased (Δ -1.64%).

Macro Context

Heavy Electrical Equipment industry linked to power capacity addition program.

Order Book / Expansion

₹700 crore order from MSETCL for 400/220 kV AIS Sub-Station in Pune. EPC contract from Tata Power for 220 kV transmission line in Mumbai.

Cash Flow Quality

Free Cash Flow 5Y: ₹None Cr.

3–6 Month Outlook

3-6 month thesis hinges on order execution and improved financials. Watch for quarterly results and new order announcements.

Primary Thesis Risk

Inability to execute orders will lead to sharp correction.

For educational purposes only. Not investment advice. Consult a SEBI-registered advisor before investing.

Returns & Performance

Poor

ROE

2.50%
Poor

ROCE

12.11%

OPM (5Y)

N/A

Div Yield

0.00%

Bajel Projects Ltd Valuation Check

Poor

P/E Ratio

161.23x
Poor

Industry P/E

47.05x
Market-cap Classification
Small-cap
Higher growth potential with higher volatility.

Market Cap

2.07K (Cr)

Shareholding Pattern

Excellent

Promoter

62.54%
Poor

FII

0.67%
Average

DII

8.66%
Poor

Pledged

2.55%

Growth Engine

Poor

Profit Growth (Q)

-1.64%
Poor

Sales Growth (Q)

-7.33%

Sales Growth (5Y)

N/A

EPS Growth (5Y)

N/A

Profit Growth (5Y)

N/A

Balance Sheet Health

Excellent

Debt to Equity

0.16x
Poor

Int. Coverage

1.30x

Free Cash Flow (5Y)

N/A

Labels (e.g., "Excellent", "Good") are peer-based vs industry/sector averages — data-only, not advice

Bajel Projects Ltd Fundamental Analysis & Valuation Benchmarking

Educational evaluation of BAJEL across key market metrics for learning purposes.

Positive Indicators

2 factors identified

Conservative Debt Levels (D/E: 0.16)

Observation: Low leverage provides financial flexibility and reduced risk.

Analysis: Conservative debt structure offers resilience during economic downturns.

Balanced Promoter Holding (62.54%)

Observation: Optimal balance between promoter control and public float.

Analysis: Promoter holding in 50-75% range provides management alignment.

Risk Factors

6 factors identified

Below-Average Return on Equity (2.50%)

Observation: Returns on equity are below industry benchmarks.

Analysis: ROE <10% may indicate inefficient capital utilization. Consider monitoring for operational improvements and management effectiveness.

Premium Valuation Risk (P/E: 161.23x)

Observation: High valuation multiples may limit upside potential.

Analysis: Elevated P/E ratios require strong growth execution to justify current valuations.

Revenue Contraction (-7.33%)

Observation: Sales decline may indicate market challenges or competitive pressures.

Analysis: Negative revenue growth requires analysis of market conditions.

Weak Interest Coverage (1.30x)

Observation: Limited ability to service debt obligations from earnings.

Analysis: Low interest coverage raises concerns about financial stability.

Limited Institutional Interest (FII+DII: 9.33%)

Observation: Low institutional participation may affect liquidity.

Analysis: Limited institutional interest may indicate size constraints or visibility issues.

No Dividend Distribution

Observation: Company does not currently pay dividends to shareholders.

Analysis: Zero dividend yield may indicate growth reinvestment focus or cash flow constraints.

Peer Comparison - Heavy Electrical Equipment

Compare Bajel Projects Ltd with 10 other companies in the same sector

11 companies
Company Info
Fundamental
Overall score
Valuation
Price metrics
Profitability
Return metrics
Financial Health
Debt management
Growth
5Y performance
Dividend
Yield %
Company
Company name
Score
Bull Run comprehensive fundamental score based on 20+ metrics
Price
Current trading price of the stock
Market Cap
Total value of all shares in the market
P/E
Price per share divided by earnings per share
ROE
Net income divided by shareholder equity
ROCE
Earnings before interest and tax divided by capital employed
Debt/Eq
Total debt divided by total equity
Profit 5Y
Average annual profit growth over 5 years
Sales 5Y
Average annual sales growth over 5 years
Dividend
Annual dividend per share divided by price per share
Bajel Projects LtdBajel Projects ...Selected✓
BAJEL • 544042
13.8/100
₹152.31₹152
₹2070.18₹2070.18
161.23Average
161.2
Average
2.50%Poor
2.50%
Poor
12.11%Average
12.11%
Average
0.16Excellent
0.2
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Siemens LtdSiemens Ltd...
SIEMENS • 500550
58.1/100
₹3709.00₹3709
₹117781.20₹117781.20
69.80Average
69.8
Average
11.81%Average
11.81%
Average
0.00%Poor
0.00%
Poor
0.01Excellent
0.0
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Siemens Energy India LtdSiemens Energy ...
ENRIN • 544390
31.7/100
₹3138.40₹3138
₹111859.20₹111859.20
101.68Average
101.7
Average
28.96%Excellent
28.96%
Excellent
0.00%Poor
0.00%
Poor
0.03Excellent
0.0
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
ABB India LtdABB India Ltd...
ABB • 500002
66.1/100
₹7132.50₹7133
₹110020.87₹110020.87
62.26Average
62.3
Average
28.82%Excellent
28.82%
Excellent
0.00%Poor
0.00%
Poor
0.01Excellent
0.0
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
CG Power and Industrial Solutions LimitedCG Power and In...
CGPOWER • 500093
67.9/100
₹795.70₹796
₹105260.55₹105260.55
98.52Average
98.5
Average
27.66%Excellent
27.66%
Excellent
0.00%Poor
0.00%
Poor
0.02Excellent
0.0
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Bharat Heavy Electricals LtdBharat Heavy El...
BHEL • 500103
44.8/100
₹329.60₹330
₹101397.77₹101397.77
181.54Average
181.5
Average
2.12%Poor
2.12%
Poor
0.00%Poor
0.00%
Poor
0.45Excellent
0.5
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Hitachi Energy India LtdHitachi Energy ...
POWERINDIA • 543187
63.2/100
₹29645.00₹29645
₹98828.01₹98828.01
137.79Average
137.8
Average
13.79%Average
13.79%
Average
0.00%Poor
0.00%
Poor
0.02Excellent
0.0
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Suzlon Energy LtdSuzlon Energy L...
SUZLON • 532667
63.7/100
₹52.50₹53
₹73094.27₹73094.27
23.04Average
23.0
Average
41.44%Excellent
41.44%
Excellent
0.00%Poor
0.00%
Poor
0.05Excellent
0.1
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
GE Vernova T&D India LtdGE Vernova T&D ...
GVT&D • 522275
65.2/100
₹4232.30₹4232
₹71752.19₹71752.19
78.00Average
78.0
Average
40.35%Excellent
40.35%
Excellent
0.00%Poor
0.00%
Poor
0.01Excellent
0.0
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Thermax LtdThermax Ltd...
THERMAX • 500411
49.9/100
₹4260.70₹4261
₹34742.42₹34742.42
58.52Average
58.5
Average
13.57%Average
13.57%
Average
0.00%Poor
0.00%
Poor
0.36Excellent
0.4
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%
Inox Wind LtdInox Wind Ltd...
INOXWIND • 539083
68.3/100
₹97.35₹97
₹22999.39₹22999.39
45.14Average
45.1
Average
11.69%Average
11.69%
Average
0.00%Poor
0.00%
Poor
0.17Excellent
0.2
Excellent
0.00%Average
0.00%
Average
0.00%Average
0.00%
Average
0.00%

Bajel Projects Ltd Financial Statements

Comprehensive financial data for Bajel Projects Ltd including income statement, balance sheet and cash flow

About BAJEL (Bajel Projects Ltd)

Bajel Projects Ltd is a dynamic force in the heavy electrical equipment sector, specializing in the intricate realm of power transmission and distribution. With a strong focus on e...ngineering, procurement, and construction (EPC), Bajel takes on comprehensive projects that span across India and international markets. Their expertise lies in providing end-to-end turnkey solutions, encompassing every facet of a project's lifecycle. From the initial stages of engineering and meticulous design to rigorous testing, precision manufacturing, flawless execution, and seamless commissioning, Bajel manages it all. They are architects of robust power networks, building the very infrastructure that electrifies communities and industries. The company's proficiency extends to the construction of cutting-edge infrastructure for power distribution. They undertake both greenfield ventures, crafting entirely new systems, and brownfield projects, skillfully augmenting existing networks for diverse power distribution companies and agencies. Bajel Projects plays a pivotal role in enhancing the capacity and reliability of power grids, ensuring a stable and efficient electricity supply. Their commitment to quality and innovation drives them to implement advanced technologies and practices, optimizing performance and minimizing environmental impact. Moreover, Bajel's dedication extends to bridging the energy divide through rural and urban electrification initiatives. They understand the transformative power of electricity in empowering communities and driving economic growth. By extending power access to underserved areas, Bajel Projects contributes to improving lives and fostering sustainable development. Their commitment to excellence, coupled with a customer-centric approach, positions Bajel Projects as a trusted partner in shaping the future of power transmission and distribution, building a brighter, more electrified world.

Company Details

Symbol:BAJEL
Industry:Heavy Electrical Equipment
Sector:Heavy Electrical Equipment
Website:https://www.bajelprojects.com

Key Leadership

Mr. Rajesh Ganesh
CEO, Managing Director & Director
Mr. Ajay Suresh Nagle
Company Secretary, Chief Compliance Officer & Executive Director
Mr. Piyush Bansal
Joint President & Business Head of Power Transmission

BAJEL Share Price: Frequently Asked Questions

What is the current share price of Bajel Projects Ltd?

As of 21 Apr 2026, 11:00 am IST, Bajel Projects Ltd share price is ₹152.31. The Bajel Projects Ltd stock has a market capitalisation of ₹2.07K (Cr) on NSE/BSE.

Is Bajel Projects Ltd share price Overvalued or Undervalued?

Bajel Projects Ltd share price is currently trading at a P/E ratio of 161.23x, compared to the industry average of 47.05x. Based on this relative valuation, the Bajel Projects Ltd stock appears to be Overvalued against its sector peers.

What is the 52-week high and low of Bajel Projects Ltd share price?

The 52-week high of Bajel Projects Ltd share price is ₹263.90 and the 52-week low is ₹135.10. These values are updated daily from NSE/BSE price data.

What factors affect the Bajel Projects Ltd share price?

Key factors influencing Bajel Projects Ltd share price include quarterly earnings growth (Sales Growth: -7.33%), raw material costs, government spending, and institutional flows (FII/DII holding).

Is Bajel Projects Ltd a good stock for long-term investment?

Bajel Projects Ltd shows a 5-year Profit Growth of N/A% and an ROE of 2.50%. Long-term investors should consider these fundamentals alongside the debt-to-equity ratio of 0.16 before investing in Bajel Projects Ltd shares.

How does Bajel Projects Ltd compare with its industry peers?

Bajel Projects Ltd competes with major peers in the Heavy Electrical Equipment. Investors should compare Bajel Projects Ltd share price P/E of 161.23x and ROE of 2.50% against the industry averages to determine competitive standing.

What is the P/E ratio of Bajel Projects Ltd and what does it mean?

Bajel Projects Ltd share price has a P/E ratio of 161.23x compared to the industry average of 47.05x. Investors pay ₹161 for every ₹1 of annual earnings.

How is Bajel Projects Ltd performing according to Bull Run's analysis?

Bajel Projects Ltd has a Bull Run fundamental score of 13.8/100, indicating concerns requiring careful analysis. This comprehensive rating is based on 15+ financial parameters.

What sector and industry does Bajel Projects Ltd belong to?

Bajel Projects Ltd operates in the Heavy Electrical Equipment industry. This classification helps understand the competitive landscape and sector-specific trends affecting Bajel Projects Ltd share price.

What is Return on Equity (ROE) and why is it important for BAJEL?

BAJEL has an ROE of 2.50%, which suggests challenges in generating returns from shareholders equity. ROE measures how efficiently Bajel Projects Ltd generates profits from shareholders capital.

How is BAJEL debt-to-equity ratio and what does it indicate?

BAJEL has a debt-to-equity ratio of 0.16, which indicates conservative financing with low financial risk.

What is BAJEL dividend yield and is it a good dividend stock?

BAJEL offers a dividend yield of 0.00%, meaning you receive ₹0.00 annual dividend for every ₹100 invested in Bajel Projects Ltd shares.

How has BAJEL share price grown over the past 5 years?

BAJEL has achieved 5-year growth rates of: Sales Growth N/A%, Profit Growth N/A%, and EPS Growth N/A%.

What is the promoter holding in BAJEL and why does it matter?

Promoters hold 62.54% of BAJEL shares, with 2.55% pledged. High promoter holding often indicates strong management confidence in Bajel Projects Ltd.

What is BAJEL market capitalisation category?

BAJEL has a market capitalisation of ₹2070 crores, placing it in the Small-cap category.

How volatile is BAJEL stock?

BAJEL has a beta of N/A. A beta > 1 suggests the Bajel Projects Ltd stock is more volatile than the market, while a beta < 1 suggests it is less volatile.

What is BAJEL operating profit margin trend?

BAJEL has a 5-year average Operating Profit Margin (OPM) of N/A%, indicating the company's operational efficiency.

How is BAJEL quarterly performance?

Recent quarterly performance shows Bajel Projects Ltd YoY Sales Growth of -7.33% and YoY Profit Growth of -1.64%.

What is the institutional holding pattern in BAJEL?

BAJEL has FII holding of 0.67% and DII holding of 8.66%. Significant institutional holding often suggests professional confidence in the Bajel Projects Ltd stock.

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