This stock surged 6 percent after it received two big orders from notable players in the industry. In this article, we will try to understand the details of these orders.
Price Movement
With a market capitalization of Rs 1,861 crore, the shares of Bajel Projects Ltd made a 52-week high of Rs 330 per share, down by 51 percent from its current market price of Rs 163.51 per share. The stock has given a negative return of 40 percent over the last one year.
About the announcement
Bajel Projects Limited has secured new orders worth over Rs 400 crore. The contracts were awarded by Power Grid Corporation of India Limited (PGCIL) and Inergy Infra Private Limited, reinforcing Bajel’s strong presence in the infrastructure space.
One major order, placed by PGCIL through its special purpose vehicle Kurnool-IV Power Transmission Limited that involves building a 765kV double circuit transmission line in Andhra Pradesh. This project supports the integration of 4.5GW renewable energy under the Kurnool-IV zone and is set to be completed in 23 months.
Additionally, Bajel bagged two important orders from Inergy Infra constructing a 400kV transmission line and a new 400kV AIS substation, for its 550MW solar-wind hybrid project in Beed, Maharashtra, with a 12-month deadline.
Rajesh Ganesh, MD and CEO of Bajel Projects, said, “These wins, marking a strong start to the financial year, reinforce our commitment to executing impactful solutions for India’s power sector. Both orders demonstrate Bajel Projects’ expertise in executing complex power transmission projects, including the construction of high-voltage transmission lines and substations. The company’s commitment to timely execution, quality, and safety is emphasized by these significant wins.”
Financial Highlights
The company reported a revenue of Rs 622.39 crore in Q3 FY25, up by 126 percent, from its Q3 FY24 revenue of Rs 275.08 crore. It posted a net profit of Rs 1.46 crore in Q3 FY25, down by 56 percent, from its Q3 FY24 net profit of Rs 3.36 crores and down by 60 percent from its Q2 FY25 net profit of Rs 3.66 crores. As of 31 March 2024, it has an unexecuted order book of Rs 3,598 crore.
About the Company
Bajel Projects Limited focuses on power transmission and distribution in India and abroad. The company provides complete solutions—from design and testing to manufacturing, installation, and project commissioning. Bajel also makes lattice structures, steel poles, lighting poles, and masts, and offers galvanizing services. It has experience delivering over 7,000 circuit kilometers of high-voltage transmission lines and around 40 advanced substations, including both air-insulated and gas-insulated types.
Written by Satyajeet Mukherjee
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