News ArticleBajel Projects Achieves Record Rs. 5000 Crore Orderbook with Stable Q2 FY27 EBITDA Margins of 4.8%
Company secures major transmission orders exceeding Rs. 2,300 crore; reports Rs. 514 crore revenue and Rs. 6 crore PAT in Q2 FY27 amid operational challenges
Bajel Projects Limited announced its highest-ever unexecuted order book of approximately Rs. 5000 crore for Q2 FY27, marking a 48% year-over-year increase, alongside steady Q2 EBITDA margins of 4.8%. The company reported revenue of Rs. 514 crore for Q2 and Rs. 1,081 crore for H1 FY27, with profit after tax at Rs. 6 crore and Rs. 10 crore respectively amid project delays and cost pressures.
Bajel Projects Limited
General / Other
Bajel Projects Limited reported its highest ever unexecuted order book of approximately Rs. 5000 crore at the end of Q2 FY27, a 48% increase compared to the previous year, while maintaining steady EBITDA margins of 4.8%. Revenue for the quarter was Rs. 514 crore with a profit after tax of Rs. 6 crore despite certain project delays and cost pressures.
The company’s half-year revenue stood at Rs. 1,081 crore, with EBITDA margins of 4.4% and profit after tax reaching Rs. 10 crore.
Bajel’s unexecuted order book expanded further to Rs. 6,500 crore as of the latest date, driven by landmark agreements including a Rs. 400 crore transmission line project with Egypt’s EETC and Rs. 1,600 crore orders under a regional network expansion scheme in India.
Additional major wins include two substation projects from Tata Power in Mumbai totaling over Rs. 400 crore, and a Rs. 1,500 crore order for 765 kV transmission lines and substations in Gujarat, representing the company’s largest power transmission segment order.
The company maintained an EBITDA margin of 4.8% in Q2 FY27 despite elevated commodity prices and cost challenges, demonstrating margin discipline.
Profit before tax for Q2 was Rs. 8 crore, with a 31% reduction in interest costs compared to the prior year period.
Highlights
- Unexecuted order book at ~Rs. 5000 crore in Q2 FY27, up 48% year-over-year
- Q2 FY27 revenue at ~Rs. 514 crore; H1 FY27 revenue at ~Rs. 1,081 crore
- EBITDA margin steady at 4.8% in Q2 FY27 despite cost pressures
- Profit after tax of Rs. 6 crore in Q2 FY27 and Rs. 10 crore in H1 FY27
- Major orders secured: Rs. 400 crore with Egyptian Electricity Transmission Company, Rs. 1,600 crore in WR-ER Inter-Regional Network scheme, Rs. 200+ crore each for Tata Power substation projects, Rs. 1,500 crore transmission and substation-
Key Data Snapshot
What happened
- Bajel Projects Limited reported its highest ever unexecuted order book of approximately Rs. 5000 crore at the end of Q2 FY27, a 48% increase from Q2 FY26.
- The company maintained steady EBITDA margin of 4.8% in Q2 FY27 despite high commodity prices and operational challenges.
- Revenue for Q2 FY27 was Rs. 514 crore and profit after tax was Rs. 6 crore.
- Major new orders include a Rs. 400 crore transmission line contract with Egyptian Electricity Transmission Company and Rs. 1,600 crore orders under the WR-ER Inter-Regional Network Expansion Scheme.
Key details
- Half-year revenue stood at Rs. 1,081 crore with EBITDA margin of 4.4% and PAT of Rs. 10 crore.
- New transmission and substation orders worth approximately Rs. 1,900 crore were also secured including projects from Tata Power and Gujarat transmission lines.
- Interest expenses fell by 31% compared to the same period last year, contributing to improved profit before tax.
- Order book expanded further to about Rs. 6,500 crore after quarter end, reflecting strong revenue visibility.
Financial performance
- Q2 FY27 EBITDA was Rs. 25 crore with a margin of 4.8%, same as Q2 FY26.
- Profit before tax was Rs. 8 crore for Q2 FY27, slightly down 2% from Q2 FY26.
- H1 FY27 PAT increased by 16% to Rs. 10 crore compared to H1 FY26.
- Revenue declined 16% in Q2 FY27 compared to Q2 FY26, mainly due to project delays linked to geopolitical issues.
Strategic context
- Bajel Projects operates as an EPC and manufacturing solutions company focused on power transmission and new energies.
- The company is part of the Bajaj Group and serves both domestic and international clients.
- Its current growth is supported by large infrastructure projects contributing to its largest order book to date.
- The company aims to strengthen execution and efficiency to support sustainable and profitable growth amid India's expanding power transmission sector.
Highlights
- Unexecuted order book at ~Rs. 5000 crore in Q2 FY27, up 48% year-over-year
- Q2 FY27 revenue at ~Rs. 514 crore; H1 FY27 revenue at ~Rs. 1,081 crore
- EBITDA margin steady at 4.8% in Q2 FY27 despite cost pressures
- Profit after tax of Rs. 6 crore in Q2 FY27 and Rs. 10 crore in H1 FY27
- Major orders secured: Rs. 400 crore with Egyptian Electricity Transmission Company, Rs. 1,600 crore in WR-ER Inter-Regional Network scheme, Rs. 200+ crore each for Tata Power substation projects, Rs. 1,500 crore transmission and substation-
Disclosures
- SEBI Listing Regulations
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