Bajaj Steel Industries Limited · NSE:BAJAJST
Bajaj Steel Industries — Q3 FY26 Earnings Presentation
38 slides from Bajaj Steel Industries's earnings presentation, February 2026
Slide 1: Bajaj Steel Industries Limited Q3 & 9MFY26 Investor Presentation
BAJAJ STEEL INDUSTRIES LIMITED A Multi-Product Engineering Company Q3 & 9MFY26 INVESTOR PRESENTATION
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), has been prepared by Bajaj Steel Industries Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not
Slide 3: Table Of Content
Table Of Content 02 04 01 03 Company Annexure Overview Q3 & 9MFY26 Annual Highlights Financials www.bajajngp.com 3
Slide 4: Q3 & 9MFY26 Highlights
4 Q3 & 9MFY26 Highlights www.bajajngp.com 4
Slide 5: Healthy Growth in Other Business Segments, Led by Strategic Diversification
Healthy Growth in Other Business Segments, Led by Strategic Diversification Net Revenue (Rs Cr) • Order book at Rs 561 Cr as on 11 February 2026, with 38% from Other Business segments. Cotton Ginning Machinery Segment (Rs Cr) Other Business Segment (Rs Cr) • Revenue growth in Other Business segments
Slide 6: Segment-wise Revenue
Segment-wise Revenue Net Revenue (Rs Cr) Cotton Ginning M/c Infrastructure (PEBs) Electric Panels Heavy Engineering Other Product 26% 25% 73% 97 72 33% 26 15 15 12 8 8 6 4 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 • Other Business segments grew 29% YoY, driven by
Slide 7: Profit & Loss Highlights
Profit & Loss Highlights Consolidated (Rs Cr) Q3FY26 Q3FY25 YoY (%) Q2FY26 QoQ (%) 9MFY26 9MFY25 YoY (%) Revenue From Operations 125.3 138.0 -9.3% 174.6 -28.3% 407.4 431.3 -5.5% Cost of Goods Sold 61.9 68.1 82.9 195.7 214.8 Employee Benefits Expense 21.6 19.5 22.5 64.5 58.6 Other Expenses 32.5 29.6
Slide 8: Healthy Balance Sheet and Strong Cash Flow
Healthy Balance Sheet and Strong Cash Flow.. Net Worth (Rs Cr) & TOL/TNW* (x) Net Debt to Equity (x) 1.64 1.15 0.91 0.3 0.63 0.70 0.56 0.52 -0.1 -0.1 -0.1 -0.2 414 -0.3 332 387 -0.4 274 171 207 102 FY20 FY21 FY22 FY23 FY24 FY25 H1FY26 FY20 FY21 FY22 FY23 FY24 FY25 H1FY26 Net Worth TOL/TNW Cash Flow
Slide 9: Company Overview
9 Company Overview www.bajajngp.com 9
Slide 10: Bajaj Steel Industries – Key Strengths
Bajaj Steel Industries – Key Strengths Incorporated in 1961 under the visionary leadership of Late Shri Hargovind Bajaj, BSIL has evolved from a Cotton Ginning Machinery Company → Multiproduct Engineering Company 64 Years Manufacturing Presence Across Strong Technology-Led & Financial Prowess of Leg
Slide 11: Our Journey To Becoming A Multiproduct Engineering Company
Our Journey To Becoming A Multiproduct Engineering Company 01Cotton 01 01 Continental 01 01 Electrical Heavy Processing Infrastructure Eagle Panels Engineering Machinery Corporation ince ince ince ince ince S S S S S 196 201 201 201 202 1 0 2 8 3 • Started with manufacturing • Forayed into the Infra
Slide 12: Manufacturing Prowess: State-of-the-Art facilities
Manufacturing Prowess: State-of-the-Art facilities Manufacturing Facilities Across 100,000 Sq.Mtrs ISO Certifications: ISO 9001:2015 | ISO 14001:2015 | ISO 45001:2018 Research and Development: Collaboration Central Institute For Research On Cotton Technology, Central Building Research Institute, Roo
Slide 13: Extensive, High-quality Machines Catering To Varied Sectors
Extensive, High-quality Machines Catering To Varied Sectors Cutting & Bending Machining Material Handling • 7 Laser Cutting Machines (up to 100 mm SS) • 56 CNC Machines • EOT Cranes (up to 25 MT) • CNC Sheet Benders • 91 Conventional Machines • 11 Hydra Cranes • CNC Press Brakes (16 mm × 6500 mm) •
Slide 14: Global Presence Across 60+ Countries enabling Wide Reach
Global Presence Across 60+ Countries enabling Wide Reach Head-Office: C-108, MIDC Industrial Area, Hingna, Nagpur. USA CIS Countries GCC Countries Nagpur, India Manufacturing Units: 13 units in Nagpur, India. West Africa East Africa Brazil Uganda Subsidiaries: Peru Paraguay Bajaj Coneagle LLC, USA B
Slide 15: Long Standing Relationships with Marquee Clients Across the Globe
Long Standing Relationships with Marquee Clients Across the Globe www.bajajngp.com 15
Slide 16: Highly Experienced Management Team
Highly Experienced Management Team… Shri Rohit Bajaj Shri Sunil Bajaj Dr. M.K. Sharma Chairman & MD Executive Director Whole Time Director & CEO Qualification: Bachelor's Degree in Arts Qualification: Bachelor's Degree in Engineering from Manipal Qualification: PhD from Nagpur University (2014) on I
Slide 17: Guided by a Strong Board of Directors
…Guided by a Strong Board of Directors Shri Deepak Batra Dr. Pankaj Agrawal Mayank Bhandari Non - Executive Director Independent Director Independent Director Qualification: Chartered Accountant with extensive Qualification: Chartered Accountant with decades of Qualification: M.Sc. in Engineering Bu
Slide 18: Global Recognition & Industry Leadership
Global Recognition & Industry Leadership Collaboration Central Building Artu K Central Institute For Research Institute, System Integrator Research On Cotton Roorkee Certificate Technology Certificate Of Central Power Underwriters Compliance Research Institute Laboratories ISO 9001:2015 Collaboratio
Slide 19: Business Divisions
19 Business Divisions www.bajajngp.com 19
Slide 20: Cotton Processing Machinery Division
Cotton Processing Machinery Division Global Leader: Revenue (Rs Cr) • ~35–40% Global Market Share, 50% Domestic Share, 50%+ Revenue from Exports, Presence in 60+ Countries • Awarded India’s Largest & Most Modern Cotton Ginning Machinery Maker – Ministry of Textiles 424 393 385 Complete Portfolio: •
Slide 21: Infrastructure Division
Infrastructure Division Core Business: Revenue (Rs Cr) Specializes in design, fabrication, and erection of Pre-Engineered Buildings, Industrial Sheds, Warehouses, K-Houses, and Solar Mounting Structures. 89 86 82 7 EPC Projects: 10 Executing turnkey projects for major clients like Indian Oil Corpora
Slide 22: Electrical Panel Division
Electrical Panel Division Product Range: Revenue (Rs Cr) Manufactures and sells a wide range of Electrical Panels (Power & Motor Control Centers, APFC Panels, LT & HT Panels, IMCC Panels, Drive Panels, PLC & SCADA Panels, AMF Panels, Synchronization Panels, Control Panels, Lighting Panels, Power 54
Slide 23: Heavy Engineering Division
Heavy Engineering Division Custom Fabrication: Revenue (Rs Cr) Specializes in tailored fabrication/structural solutions for OEMs in Steel, Cement, Mineral, and Power sectors. The division also produces products like aerobridges & passenger boarding systems, Biomass Pellets, etc. 42 10 New Segment En
Slide 24: Other Products
Other Products Fire Fighting Systems Steel Doors (Fire, Hospital, Commercial & Dom. Application) Duct Systems & Cyclone Revenue (Rs Cr) Duct Solutions 19 16 13 4 16 15 13 Fire Alarm and Fire Fire Hydrant Single Leaf Two Leaf Fire Door Detection Systems Extinguishers Pumps Door Models Door Models Mod
Slide 25: Annual Financials
25 Annual Financials www.bajajngp.com 25
Slide 26: Profit & Loss Highlights
Profit & Loss Highlights Consolidated (Rs Cr) FY22 FY23 FY24 FY25 9MFY26 Revenue From Operations 439 533 551 585 407 Cost of Goods Sold 235 259 282 283 196 Employee Benefits Expense 51 63 72 80 64 Other Expenses 99 120 117 129 93 EBITDA 54 91 79 92 55 EBITDA Margin 12.3% 17.1% 14.4% 15.8% 13.4% Depr
Slide 27: Balance Sheet Highlights
Balance Sheet Highlights Liabilities (Rs Cr) Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Assets (Rs Cr) Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Share Capital 2.6 2.6 2.6 10.4 10.4 PPE & Intangible Assets 76.4 93.8 148.0 175.2 167.8 Reserves & Surplus 204.2 271.0 329.5 377.0 403.6 Capital WIP 13.8 23.9 9.8 19.2 41
Slide 28: Cashflow Highlights
Cashflow Highlights Particulars (Rs Cr) FY22 FY23 FY24 FY25 H1FY26 (A) Net Cash Flow from Operating Activities 55.1 26.5 55.3 52.4 51.9 (B) Net Cash Flow from Investing Activities -20.2 -52.1 -66.4 -38.1 -19.6 (C) Net Cash Flow from Financing Activities 4.1 -21.9 19.0 -26.2 -16.5 Net (Decrease)/ Inc
Slide 29: Annexure
29 Annexure www.bajajngp.com 29
Slide 30: Manufacturing Facilities Across 100,000 Sq.Mtrs
Manufacturing Facilities Across 100,000 Sq.Mtrs C-108, MIDC, Hingna, Nagpur C-20-10, MIDC, Hingna, Nagpur G6-G7, MIDC, Hingna, Nagpur Area: 26,830 Sq. Mtrs. Area: 3,868 Sq. Mtrs. Area: 24,000 Sq. Mtrs. Divisions: Cotton Processing M/c Divisions: Cotton Processing M/c Divisions: Cotton Processing M/c
Slide 31: Executed Projects (Cotton Processing Machinery Division)
Executed Projects (Cotton Processing Machinery Division) Domestic Ginning Plants Exported Ginning Plants www.bajajngp.com 31
Slide 32: Executed Projects (Infrastructure Division)
Executed Projects (Infrastructure Division) PROJECT YEAR OF COMPLETION LOCATION PROJECT YEAR OF COMPLETION LOCATION Industrial Shed 2024 CH.SAMBHAJINAGAR Warehouse 2025 KOLHAPUR SPECIAL FEATURE - Multi Span Industrial Shed Of 80, 000 Sq.Ft at Ch.Sambhajinagar SPECIAL FEATURE - Construction Of 3000 M
Slide 33: Executed Projects (Electrical Panels)
Executed Projects (Electrical Panels) Electrical panel supplied to one of our Foreign Client Electrification work of Spinning Mills www.bajajngp.com 33
Slide 34: Executed Projects (Heavy Engineering Division 1)
Executed Projects (Heavy Engineering Division 1) Torres Actor drum assembly for Molten Steel transfer Car for steel plants, Primetals Torrefaction plant, TSI USA www.bajajngp.com 34
Slide 35: Executed Projects (Heavy Engineering Division 2)
Executed Projects (Heavy Engineering Division 2) Passenger Boarding Bridge 6-Meter Stacker Wheel for Limestone Mines www.bajajngp.com 35
Slide 36: Executed Projects (Others)
Executed Projects (Others) Telescopic Conveyor for Godrej Consumer Metro Station, Nagpur – Fire Fighting System Products Limited, Sikkim www.bajajngp.com 36
Slide 37: Stock Information
Stock Information Shareholding Pattern (as on 31st Dec-25) Script Related Information (as on 11th-Feb-2026) BSE/NSE Code 507944 | BAJAJST Public CMP (Rs) 440 43.39% Promoters 56.62% Market Cap (Rs Cr) 915 Shares O/s (Cr) 2.08 Face Value (Rs) 5 Promoters Public Average Trading Volume (‘000) 21.8 www.
Slide 38: Contact Us
CONTACT US Bajaj Steel Industries Limited Manish Sharma | sharma.manish@bajajngp.com Rachit Jain| rachit.jain@bajajngp.com Phone: 07104238101 Stellar IR Advisors Pvt. Ltd. Akhilesh Gandhi, CFA | akhilesh@stellar-ir.com Regd. Office: Plot No. C-108, MIDC Industrial Area, Hingna Nagpur - 440016 Omkar
Bajaj Steel Industries — Q3 FY26 Earnings Presentation on 6ix