Bajel Projects Limited (IN:BAJEL)
:BAJEL
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Bajel Projects Limited
(BAJEL)
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Rating:54Neutral
Price Target:
₹165.00
▼(-5.77% Downside)
Action:ReiteratedDate:10/25/25
The overall stock score is primarily influenced by strong financial performance, despite challenges in operational efficiency and cash flow declines. Technical analysis indicates bearish momentum, and the high P/E ratio suggests overvaluation. These factors contribute to a cautious outlook for Bajel Projects Limited.
Positive Factors
Strong Revenue Growth
A 122.3% year-over-year revenue jump signals meaningful contract wins and execution scale in the core EPC power-transmission business. Sustained top-line growth supports deeper project pipelines, better supplier leverage, and increased capacity to fund backlog and reinvest in operations over months.
Negative Factors
Sharp Free Cash Flow Decline
A near 80% drop in FCF growth materially weakens internal funding for capex and bond-like project security. Persistently declining free cash flow can constrain bidding capacity, force tighter working-capital management or external financing, and raise execution risk on multi-month turnkey projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
A 122.3% year-over-year revenue jump signals meaningful contract wins and execution scale in the core EPC power-transmission business. Sustained top-line growth supports deeper project pipelines, better supplier leverage, and increased capacity to fund backlog and reinvest in operations over months.
Read all positive factors
Bajel Projects Limited (BAJEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹18.70B
Dividend YieldN/A
Average Volume (3M)141.18K
Price to Earnings (P/E)―
Beta (1Y)1.73
Revenue Growth36.45%
EPS Growth-34.85%
CountryIN
Employees666
SectorServices
Sector StrengthN/A
IndustryRegulated Electric
Share Statistics
EPS (TTM)0.60
Shares Outstanding115,696,940
10 Day Avg. Volume18,530
30 Day Avg. Volume141,177
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)2.96
Price to Sales (P/S)0.76
P/FCF Ratio56.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)₹38.53B
Bajel Projects Limited Business Overview & Revenue Model
Company Description
Bajel Projects Limited engages in the engineering, procurement, and construction business in the power transmission and distribution sectors. The company offers end to end solutions, including inhouse design, testing, procurement, manufacturing, a...
How the Company Makes Money
BAJEL primarily makes money by executing EPC and turnkey contracts for power transmission and distribution projects. Revenue is recognized from customer contracts based on the scope delivered—typically including engineering and design services, pr...
Bajel Projects Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 26.32B | 25.98B | 11.69B | 5.69B |
| Gross Profit | 3.66B | 3.80B | 2.20B | 522.87M |
| EBITDA | 963.19M | 592.70M | 280.35M | 122.53M |
| Net Income | 128.39M | 154.63M | 42.87M | -15.81M |
Balance Sheet | ||||
| Total Assets | 19.94B | 20.75B | 13.43B | 9.35B |
| Cash, Cash Equivalents and Short-Term Investments | 2.04B | 1.03B | 593.47M | 6.53M |
| Total Debt | 1.13B | 1.40B | 149.10M | 7.21M |
| Total Liabilities | 12.88B | 14.09B | 7.77B | 3.78B |
| Stockholders Equity | 7.06B | 6.66B | 5.66B | 5.57B |
Cash Flow | ||||
| Free Cash Flow | -88.37M | 346.48M | 1.68B | 78.02M |
| Operating Cash Flow | 69.09M | 691.33M | 1.95B | 105.58M |
| Investing Cash Flow | 238.16M | -1.28B | -1.35B | -27.18M |
| Financing Cash Flow | -614.67M | 680.69M | -145.79M | -6.56M |
Bajel Projects Limited Technical Analysis
Positive
175.10
Price Trends
156.98
Negative
165.51
Negative
190.87
Negative
Market Momentum
-1.81
Positive
49.41
Neutral
55.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAJEL, the sentiment is Positive. The current price of 175.1 is above the 20-day moving average (MA) of 153.43, above the 50-day MA of 156.98, and below the 200-day MA of 190.87, indicating a neutral trend. The MACD of -1.81 indicates Positive momentum. The RSI at 49.41 is Neutral, neither overbought nor oversold. The STOCH value of 55.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BAJEL.
Bajel Projects Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹28.67B | 11.78 | ― | 4.74% | 4.77% | -0.62% | |
62 Neutral | ₹51.72B | 30.38 | ― | 0.06% | 5.56% | -22.59% | |
57 Neutral | ₹12.52B | ― | ― | 19.52% | -15.70% | -343.97% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
54 Neutral | ₹18.70B | -1,188.84 | ― | ― | 36.45% | -34.85% | |
47 Neutral | ₹1.72B | 2.58 | ― | ― | -57.13% | ― | |
46 Neutral | ₹1.25B | -678.38 | ― | ― | -75.03% | -17499.32% |
* Services Sector Average
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Bajel Projects Limited Corporate Events
Bajel Projects Allots 10,625 ESOP Shares, Marginally Expands Equity Capital
Mar 17, 2026
Bajel Projects Limited has approved the allotment of 10,625 fully paid equity shares of Rs. 2 each to six eligible employees upon exercise of options granted under its Special Purpose ESOP Scheme 2023. Following this issuance, the company’s ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.