Bajel Projects Q4 and FY26: Execution-led growth with expanding margins

FY26 standalone revenue from operations was INR 2,792 crore, EBITDA was INR 125 crore (EBITDA margin 4.4%), and net profit was INR 27 crore.

Q4 FY26 standalone revenue from operations was INR 1,008 crore, EBITDA was INR 38 crore (EBITDA margin 3.7%), and net profit was INR 16 crore.

Unexecuted order book was INR 3,442 crore as of March 31, 2026. The presentation showed the mix as 96% Power Transmission, 4% New Energies, and 0.2% International EPC.

Management stated an overall capex outlay of INR 170 crore to expand capacity to about 110 to 120 thousand metric tonnes per annum, funded by INR 120 crore term loan and INR 50 crore internal funds.

Management stated it is targeting revenue growth upwards of 15% in FY27, while emphasizing quality-led growth.

The company recommended a maiden dividend of INR 0.60 per equity share for FY26 (stated as 30% on face value of INR 2 per share), subject to shareholder approval.