Bajel Projects Limited · NSE:BAJEL
Bajel Projects — Q4 FY2026 Earnings Presentation
37 slides from Bajel Projects's earnings presentation, May 27, 2026
Slide 1: Cover letter to stock exchanges on results presentation
May 27, 2026 To, BSE Limited : Code No. 544042 Department of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 National Stock Exchange of India Limited : BAJEL – Series: EQ Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Dear Sir/Mada
Slide 2: Q4 & FY'26 Performance Investor Presentation
(A Bajaj Group Company) Q4 & FY'26 PERFORMANCE Investor presentation 1
Slide 3: Disclaimer
Disclaimer The material that follows is a Presentation of general background information about the activities of BAJEL Projects Limited (“Company”) or its subsidiary or joint venture or associate (together with the Company, the “Group”) as at the date of the Presentation or as otherwise indicated. I
Slide 4: Index
Index Bajaj Group overview 4 Bajel Projects Limited at a glance 5 Key Projects & Capabilities 9 Financial performance snapshot 20 Our Strategy- RAASTA 2030 28 Investor Presentation || Q4 FY’26 3
Slide 5: Bajaj Group: A Multinational Conglomerate
Bajaj Group: A Multinational Conglomerate Bajaj Group, India’s 3rd largest group by market capitalization, maintains a significant footprint across multiple industries $167+ Bn 100 40+ 100,000+ 70+ Group Market Years in Group Happy Countries Cap Business Companies Employees Founded in 1926 by Shri J
Slide 6: Bajel Projects Limited at a Glance
BAJEL PROJECTS LIMITED AT A GLANCE Investor Presentation | Q4 FY’26 5
Slide 7: A Legacy of Excellence
A Legacy of Excellence Secured the first-ever distribution project Successfully demerged from under the RGGVY scheme for NHPC Won the 1st EPC contract for Bajaj Electricals Limited leading Ltd. Introduced India to its first 400 a 132 kV GIS substation by to formation of Bajel Projects kV transmissio
Slide 8: 25+ years of impact in Power Infrastructure
25+ years of impact in Power Infrastructure Power Power Monopole International Manufacturing Transmission Distribution Business Unit 9,823+ ckm 90,554+ 1,128+ Product 56,514 MT Transmission Monopoles supplies in of production in Transformers Lines installed supplied 8+ Countries FY’26 49+ AIS/GIS 1,
Slide 9: Bajel Projects Limited: Powering the Future
Bajel Projects Limited: Powering the Future India Presence* 25+ 8+ Pulwama 2023 2024 2025 Years Countries Jind EPC + Manufacturing Experience Global EPC + Product Presence Siwani Delhi Maharanibagh Gurugram Gr.Noida Sikar Jalpura Noida Rangpo ₹ 2,819 56,514 Beawar Mohanlalganj Bhadla Chandausi Praya
Slide 10: Key Projects & Capabilities
KEY PROJECTS & CAPABILITIES Investor Presentation | Q4 FY’26 9
Slide 11: Key Projects: Power Transmission
Key Projects: Power Transmission 765 kV D/C new Navsari (South Gujarat) to Phadge 400 kV D/C Navsari -Magarwada Line 400/220 kV 500 MVA GIS Substation at Jalpura (Maharashtra) transmission line Transmission Line (Greater Noida) Location: Navsari - Phadge Location: Navsari – Magarwada Location: Great
Slide 12: Commissioned ~10% of India's total transmission lines in FY26
Commissioned ~10% of India’s total transmission lines in FY26 Bajel Projects commissioned 1,168 ckm (~10%) out of 12,139 ckm* commissioned in the country during the year ✓ 110/11kV Substation at Jawahar Nagar, Raichur ✓ 400kV D/C quad Jeypore - Jagdalpur Transmission Line ✓ 220 & 66 kV Composite Tra
Slide 13: Key Projects: New Energies (formerly Power Distribution)
Key Projects: New Energies (formerly Power Distribution) Loss Reduction project from PGCIL in Pulwama District, 33/11kV Substation featuring 2x8 MVA transformers with Data Center substation & line - construction of 220/33 KV Jammu & Kashmir TPCODL in Odisha GIS Substation and associated Transmission
Slide 14: Key Projects: International Business
Key Projects: International Business Construction of 132kV Single Circuit Transmission Executed a JV agreement with Al-Sharif Contracting & Medium and Low Voltage Networks for Rural Line fron Coventry – Waterworks, Coventry – Commercial Development Co. Ltd in the Kingdom of Electrification of 46 Vil
Slide 15: FY'26 Highlights: Manufacturing Facility in Ranjangaon
Manufacturing Facility in Ranjangaon A state-of-the-art manufacturing facility situated in Ranjangaon, Product Portfolio 55km from Pune, India. The plant specializes in Transmission Line Towers, Monopoles, High Masts, Lighting Poles, and other structures, supported by a fully enclosed galvanizing un
Slide 16: Core Strengths in Power T&D
Core Strengths in Power T&D Power Transmission Substation Voltage Level AIS GIS Extensive experience in the design, Bay Bay New Extension New Extension engineering, procurement, construction, and commissioning of 132 kV, 220 kV, 400 kV, and <=132 KV 765 kV transmission lines in S/C, D/C and <=220 KV
Slide 17: Trusted by Industry Leaders
Trusted by Industry Leaders AND MANY MORE... Investor Presentation | Q4 FY’26 16
Slide 18: Building Infrastructure with Safety, Sustaining Growth with Responsibility
Building Infrastructure with Safety, Sustaining Growth with Responsibility Engage Educate Empower Best CSR Project ESG award for Manufacturing Investor Presentation | Q4 FY’26 17
Slide 19: Guided by experienced Board of Directors
Guided by experienced Board of Directors Rajendra Singh Radhika M Dudhat Maneck Davar Sudarshan Non-Executive Sampathkumar Non-Executive Non-Executive Independent Independent Director Independent Director Director Additional Non-Executive Independent Director Shekhar Bajaj Chairman Non-Executive Dir
Slide 20: Strong Leadership Team in place
Strong Leadership Team in place Rajesh Ganesh Ajay Nagle Nitesh Bhandari Piyush Bansal Shyam Mittal Rohin Dhar Managing Director & Executive Director, CS & Chief Financial Officer Head Head Head Chief Executive Officer Chief Compliance Officer Power Transmission Power Distribution International Akas
Slide 21: Financial Performance Snapshot
FINANCIAL PERFORMANCE SNAPSHOT Investor Presentation || Q3 Q4 FY’26 20
Slide 22: FY26 – Year under Review
FY26 – Year under Review Reported highest-ever EBITDA Execution-Led Growth with 17 Projects Commissioned during Manufacturing Capacity & PAT with continued margin Expansion at Ranjangaon Plant expansion the year 1,168 ckm commissioned (~10% of ₹170 crore capex to expand FY26 Standalone EBITDA grew b
Slide 23: From the Management's Desk
From the Management’s Desk “FY26 has been a defining year for Bajel, made even more special as we mark 100 years of the Bajaj Group — a century of trust, enterprise, and nation-building that we are proud to carry forward. Our standalone revenue from operations grew to Rs. 2,792 crores, while Profit
Slide 24: Year on year financial performance
Year on year financial performance Standalone figures ₹ in crores Revenue from Operations EBITDA & EBITDA Margin (%) 2,792 125 2,598 90 4.4% 3.4% 3.0% 1,169 1.9% 36 664 13 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Profit Before Tax & EPS (₹) Return on Average Capital Employed (%) 34 15.8% 12.8% 24 2.3
Slide 25: Unexecuted Order Book
Unexecuted Order Book (₹ in crores) Unexecuted Order Book Unexecuted Order Book Order Updates As on 31st March 2026 post 31st March’26 • Bagged Major ₹300+ crs 0.2% construction of 400kV transmission 4%^ line under Bellary–Davanagere RE evacuation scheme 3,598 3,442 • Secured first ₹400+ crs Ultra-M
Slide 26: Q4 & FY'26 Standalone Financial Performance
Q4 & FY’26 Standalone Financial Performance Quarterly Performance Standalone figures ₹ in crores Revenue from Operations EBITDA & EBITDA Margin Profit Before Tax & Exceptional Items Margin 3.4% 3.7% Margin 0.8% 1.8% 1,008 801 19 38 27 6 Q4 FY'25 Q4 FY'26 Q4 FY'25 Q4 FY'26 Q4 FY'25 Q4 FY'26 Annual Pe
Slide 27: Standalone Income Statement
Standalone Income Statement Particulars (Rs in Cr) Q4 FY'26 Q4 FY'25 YoY% FY'26 FY'25 YoY% FY'26 Financial Highlights Revenue from Operations 1,008 801 26% 2,792 2,598 7% Financial Discipline Other Income 7 7 2% 27 31 -13% • Achieved revenue from operations of Total Income 1,015 808 26% 2,819 2,629
Slide 28: Standalone Balance Sheet
Standalone Balance Sheet Particulars ( in ₹ Cr) 31-Mar-26 31-Mar-25 Particulars ( in ₹ Cr) 31-Mar-26 31-Mar-25 ASSETS EQUITY & LIABILITIES Non-Current Assets Equity Property, plant and equipment 90 78 Equity share capital 23 23 Capital work in progress 7 0 Other Equity 658 562 Intangible & Right-of-
Slide 29: Our Strategy: RAASTA 2030
OUR STRATEGY: RAASTA 2030 RAASTA 2030 Investor Presentation || Q4 Q4 FY’26 FY’26 28
Slide 30: India's Power Supply growth to be driven by renewables
India’s Power Supply growth to be driven by renewables Installed Capacity and Electricity Demand Forecast All Nos. are in GW Capacity Peak Demand CAGR *includes PSP & BESS 8% of 98 GW and 80 GW 1299* respectively 6% 520 6% 382 5% 459 190 245 FY’20-21 FY 25-26 As on Jan 26 FY’35-36 12% 10% 7% 2% 3% C
Slide 31: Robust Growth in Transmission Lines & Substations
Robust Growth in Transmission Lines & Substations Transmission Line Capacity (ckm) Capacity Addition Capex Planned Time Period Capacity Addition • The Government has 700000 648,190 (ckm) 600000 571,403 FY 22 – 27E 1,14,687 estimated a substantial 456,716 500000 FY 27E – 36E 1,47,824 investment of Rs
Slide 32: Significant Capacity Addition expected in Asia, Middle East, ANZ & Africa
Significant Capacity Addition expected in Asia, Middle East, ANZ & Africa Middle Central East Asia 29k ckm/ 29k ckm $3bn Rest of Asia 179k ckm/ $16bn SAARC 106k ckm/ $10bn SEA 81k ckm/ $9bn West South East ANZ USA LatAm Africa Africa Africa 30k ckm/ 25k ckm/ 5k ckm 12k ckm/ 3k ckm/ 10k ckm/ $3bn $4b
Slide 33: Power Surge: Rising demand meets growing supply
Power Surge: Rising demand meets growing supply Electricity demand in the India, the World’s 4th largest Thus, laying and upgrading country has increased at economy by GDP ranks at transmission & distribution a CAGR of about 5 % per number 23 by per capita systems is essential for: annum during the
Slide 34: RAASTA 2030: 6-Year Strategic Roadmap to FY'30
RAASTA 2030 : 6-Year Strategic Roadmap to FY'30 GEAR FOR GROWTH YEAR ACCELERATE Organization Building 2-4 • Revenue Target: Double digit • Efficiency Improvement revenue growth • Digitization: PMO, IT, IoT • High single digit EBITDA margins International Business • >15% Return on Capital Employed •
Slide 35: RAASTA 2030: Work started on Key Focus Areas
RAASTA 2030 : Work started on Key Focus Areas PLAY IN NICHE SEGMENTS SELECTIVE PLAY IN RISKY AREAS Ex. High Voltage segments with limited Ex. Play in Power distribution projects where competition and qualification advantage. funding is available or barriers to entry are high. GROW INTERNATIONALLY DI
Slide 36: Bajel Projects Limited: Delivering Seamless Execution
Bajel Projects Limited: Delivering Seamless Execution Huge opportunities in Long term Strategy Creating stakeholder Power Infrastructure - (RAASTA-2030) in place value through India & globally with immediate action plans sustainable growth Investor Presentation | Q4 FY’26 35
Slide 37: Investor Relations Contact
Investor Relations Contact: Tanya Verma Investor Relations Manager Investor.relations@bajelprojects.com Investor Presentation || Q4 FY’26 36 27