Bajel Projects Q4 & FY26 Results: Standalone Revenue at ₹2,792 Cr, PAT Up 74%
Bajel Projects reported FY26 standalone revenue of ₹2,792 crore, up 7% YoY. PAT surged 74% to ₹27 crore. Q4 FY26 revenue was ₹1,008 crore, up 26% YoY, with PBT up 193%. EBITDA grew 38% to ₹125 crore in FY26, with margins expanding to 4.4%. The company declared its first dividend of ₹0.6/share.
The strong financial performance, significant PAT growth, margin improvement, strategic international ventures, and dividend announcement are material positive developments for the company and its shareholders.
The company reported significant year-on-year growth in revenue, PAT, and EBITDA, alongside margin expansion. Strategic international expansion and collaborations, along with the first-ever dividend declaration, contribute to a positive outlook.
Bajel Projects Limited announced its financial results for the fourth quarter and full financial year ended March 31, 2026. The company reported a standalone revenue from operations of ₹2,792 crore for FY26, marking a 7% increase from ₹2,598 crore in FY25. The company's Profit After Tax (PAT) saw a significant jump of 74% year-on-year, reaching ₹27 crore in FY26, compared to ₹15 crore in FY25. This growth reflects a deliberate pivot towards 'Quality of Earnings' and selective execution of high-value projects.
For the fourth quarter of FY26, revenue from operations stood at ₹1,008 crore, a 26% increase from ₹801 crore in Q4 FY25. Profit Before Tax (PBT) for the quarter surged by 193% to ₹19 crore, up from ₹6 crore in the prior year period. EBITDA for FY26 grew by 38% to ₹125 crore, with the EBITDA margin expanding to 4.4% from 3.4% in FY25, indicating improved operational efficiency.
Key strategic initiatives for the year included the commissioning of 17 projects, with 1,168 ckm of transmission lines completed, representing approximately 10% of India's total transmission lines commissioned in FY26. The company also undertook a capacity expansion at its Ranjangaon manufacturing plant with a ₹170 crore capex to increase galvanization capacity to 110,000 MTPA. For the first time, the company declared a dividend of ₹0.6 per share, subject to shareholder approval.
Internationally, Bajel Projects established a 50:50 joint venture with Al-Sharif Group in Saudi Arabia to support growth in GCC markets. The company also signed a collaboration agreement with the National Investment and Infrastructure Fund (NIIF) and its subsidiary Anantgrid for jointly bidding and developing power transmission projects in India. The company's unexecuted order book stood at ₹3,442 crore as of March 31, 2026. Bajel Projects also holds a 'CRISIL A/Stable & CRISIL A1' credit rating.
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See the model portfoliosA plain-language summary of a public exchange filing by Bajel Projects Limited. Read the original for the full detail.