Bajel Projects share price today

Bajel Projects Ltd's share price was ₹165.41 at the close on 4 November 2026. It has been falling for 5 weeks. That is 7.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹140 and ₹205, and at that close it sat 39% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Bajel Projects Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 17 weeks running.

Over the last 2.9 years the share price moved +2% while the NIFTY 500 moved +13%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 10 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

One change stood out: profit up on a year earlier for 4 quarters in a row.

1. Profit up on a year earlier for 4 quarters in a row

   In the June 2026 quarter profit was ₹5 crore, +37% on a year earlier.

For April to June 2026 (the quarter ended 30 June 2026), Bajel Projects reported revenue of ₹567 crore, down 6.7% from ₹608 crore a year earlier, and a profit of ₹4.55 crore, up 37.0% from ₹3.32 crore.

Bajel Projects results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 29 May 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Bajel Projects closed at ₹165.41 on 4 November 2026, down 11.8% from ₹187.54 a year earlier (7 November 2025) and up 1.5% over three years. Its highest weekly close since December 2023 was ₹320.95 on 5 July 2024.

Bajel Projects share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

154 weekly closes from 22 December 2023 to 4 November 2026.

4 Nov 2026: Bajel Projects closed at ₹165.41, up 2.8% on the week and up 1.1% on the month. 31 Jul 2026: ex-date for a dividend of ₹0.60 a share.

Earlier

• Results for April to June 2026: Revenue down 6.7% and profit up 37.0% on a year earlier.
• 29 May 2026: Bajel Projects held its results call for January to March 2026. Management guided: FY27 revenue growth goal 15% upwards; CFO noted growth secondary to margin expansion focus and fixed-cost absorption requirements.

Bajel Projects paid ₹0.60 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.36% at the ₹165.41 close on 4 November 2026. The last was a dividend of ₹0.60 a share, ex-date 31 July 2026.

Bajel Projects dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Bajel Projects Ltd paid out 103% of its profit as dividends in FY26, and it paid a dividend in 1 of its last 4 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for January to March 2026, held on 29 May 2026, Bajel Projects' management guided: FY27 revenue growth goal 15% upwards; CFO noted growth secondary to margin expansion focus and fixed-cost absorption requirements.

“Underpinning this is a deliberate shift in our orientation from scale-led growth to quality-led growth. This means better project selection, disciplined bidding, execution excellence and a sharper focus on operating margins”Rajesh Ganesh, MD, on the call for January to March 2026

What management guided

• Year-end FY27 unexecuted order book expected ₹4,000-5,000 crore.
• Manufacturing capital spending ₹170 crore over FY27-FY28; Phase 1&2 (estimated 60-70% spend) operational by end FY27; Phase 3 through end FY28; capacity expansion 45,000 to 110-120,000 metric tons goal.
• MENA orders: ₹400 crore first award post-listing plus ₹2,000+ crore in L1 and advanced stages; ₹22,000 crore of active pursuit opportunities.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 29 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When Bajel Projects reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: FY27 order book progression toward ₹4,000-5,000 crore goal: Current ₹3,442 crore plus ₹1,000+ crore post-March intake requires ₹1,558-2,558 crore net new order conversions minus execution run-rate; testable against April to June 2026 results and full FY27 reset.

Bajel Projects is not on any of our India lists this week.

Bajel Projects Ltd earned ₹4.5 Cr of net profit in the Jun 2026 quarter, +37.0% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹27.0 Cr. That is 0.8% of the quarter's revenue. The same quarter a year earlier earned ₹3.3 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹27.0 Cr (+80.0% on the year before).

Why profit moved: revenue changed −6.7% on a year earlier and the margin moved +0.5 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +90.2% and revenue +0.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Bajel Projects Ltd reported ₹567 Cr of revenue in the Jun 2026 quarter, −6.7% on the same quarter a year earlier. Over 3 years it has grown 61.4% a year on average. The last full year, FY26, came in at ₹2,792 Cr. The last four reported quarters add to ₹2,751 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹2,792 Cr, +7.5% on the year before.

Recent pace: the last four quarters grew +0.5% on average, against 61.4% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +2.1%, against +36.5% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +112.5%, against +56.5% a year (accelerating).

Bajel Projects Ltd's operating margin was 3.3% in the Jun 2026 quarter, 0.5 percentage points higher than the same quarter a year ago. Across 4 years it has been between −4.6% and 4.2%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.5 percentage points on the year while gross margin changed +6.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 620% of Bajel Projects Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹21.0 Cr of operating cash against ₹27.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹37.0 Cr of spending on assets, free cash was −₹16.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 620% of profit came in as cash: the cash cycle stayed about the same between FY23 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 2.7× depreciation over three years. The next section checks what that spending is building.

Bajel Projects Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 74 days in FY26, down from 81 days in FY23. It spent ₹105 Cr on assets over the last 3 years. Customers take 214 days to pay, and stock sits for 26 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,792 Cr, each day of that cycle ties up about ₹7.6 Cr, so roughly ₹566 Cr is tied up in the business at any time.

FY26: customers took 214 days to pay and stock sat for 26 days, about 0.9 months of sales sitting as stock, for a full cycle of 74 days, shorter than FY23's 81.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 26 days. Customers pay about 214 days after that. Suppliers are paid at 166 days. Together that makes the 74-day cycle.

Spending on assets: ₹105 Cr over the last 3 years, against ₹39.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹7.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Bajel Projects Ltd's P/E is 57.7×, near the low end of its own history: it has been lower only 5% of the time. Its usual P/E (the middle reading) is 109.1×, over 2.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹2.43.

Why the multiple is where it is: over the past year earnings per share moved +73.9% while the price moved −11.8%. Earnings did better than the price, which pulled the multiple down within its own range.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Bajel Projects Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE steady at 13.0%; each line tells part of the story. This is based on 12 quarters of 3 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Bajel Projects Ltd earned a ROCE of 12% in FY26. That is up from a low of 6% in FY24. Its return on capital used (ROIC) is 6.3 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 1.0% net margin and 1.13× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 1.0% net margin × 1.13× asset turnover × 3.63× leverage (assets divided by equity) ≈ 4.1% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 5.7% − 12.0% = −6.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Bajel Projects Ltd has total debt of ₹367 Cr against shareholder equity of ₹748 Cr as of Jun 2026, so its debt is 0.49× its equity. Year by year, that ratio went from 0.00 in FY23 to 0.49 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

No group of Bajel Projects Ltd's owners changed its stake by a full percentage point over the last two years. Foreign institutions moved −0.2 points over the same period, to 0.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +0.9 points over 8 quarters, to 9.1%; Foreign institutions: −0.2 points over 8 quarters, to 0.3%; Promoters: −0.1 points over 8 quarters, to 62.5%.

For Bajel Projects Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

47.0 out of 100, rank 5 of 10 in Engineering - Turnkey Services, with 64% of the evidence available.

Bajel Projects Ltd scores 47.0 out of 100 against the 10 companies it is compared with in Engineering - Turnkey Services, ranking 5. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 21.3 + 7.5 + 8.5 + 9.7 = 47. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Bajel Projects ranks 5 of 10 Engineering - Turnkey Services companies on the 4-Factor Sector Score, with 47.0 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Engineering - Turnkey Services, all 10 compared on one page.

Bajel Projects is the 3rd largest of 10 Engineering - Turnkey Services companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Pace Digitek and Enviro Infra Engineers. Just below it: McNally Bharat Engineering Company, K.P. Energy, Goel Construction Company and Sugs Lloyd.

Engineering - Turnkey Services companies close in size

1. Pace Digitek Ltd ₹3,014 crore
2. Enviro Infra Engineers Ltd ₹2,824 crore
3. Bajel Projects Ltd ₹1,861 crore
4. McNally Bharat Engineering Company Ltd ₹1,168 crore
5. K.P. Energy Ltd ₹1,104 crore
6. Goel Construction Company Ltd ₹764 crore
7. Sugs Lloyd Ltd ₹606 crore

All 10 Engineering - Turnkey Services companies, largest first

Companies close in size in other industries

1275. K C P Ltd ₹1,865 crore · Cement
1276. Glass Wall Systems (India) Ltd ₹1,863 crore
1277. Bajel Projects Ltd ₹1,861 crore
1278. Anondita Medicare Ltd ₹1,857 crore · Contraceptives/Protectives
1279. Shree Pushkar Chemicals & Fertilizers Ltd ₹1,855 crore · Chemicals - Others

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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