Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 29 Sep - Allotment of 22,050 equity shares of Rs. 2 each on exercise of options of eligible employees
Source: Bse
Bajel Projects Limited (BAJEL)
Small CapAuto stocks · Small cap · NSE
Bajel Projects Limited operates in Power Transmission, within the Auto sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:47 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens
Trend score and candlestick chart
44NeutralSMA20 -10.3% / mo · MACD +
Stock trend: 42
Sector RS: 49
Sector 3M: -6.3% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
BAJELD candles · FIT view-7.5%Latest close ₹167.90 on 2026-10-19
Bar
-0.4%
RSI
50
MACD hist
1.05
52W pos
41%
2026-10-19O ₹168.50H ₹171.79L ₹164.72C ₹167.90Vol 2.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BAJELNifty AutoNifty 500
- BAJEL
- -6.4%
- Nifty 500
- -5.6%
- Nifty Auto
- -5.4%
- Vs Nifty 500
- -0.8 pp
Chart stats
19 Oct 2026- From 52W high
- -22.1%
- 52W range position
- 41%
- ATR (14)
- 3.8%
- Volume vs 20D
- 1.55x
- Avg traded value
- ₹3.1 Cr
- 20D price channel
- ₹153 - ₹175
₹215.5
₹135.1 - ₹215.5
₹6.4
Latest completed session
20-session average
32.1% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED31
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average40
Revenue -6.7% · PAT +59.8% YoY
Technical
Neutral44
Price trend and sector-relative-strength timing.
Valuation
Legacy model-129.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence62
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 40/100Rev -7% YoY · PAT +60% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹566.9 Cr | -6.7% | -43.8% |
| EBITDA | ₹18.5 Cr | +14.5% | -39.4% |
| Operating margin | 3.3% | +61 bps | +24 bps |
| PAT | ₹4.7 Cr | +59.8% | -66.5% |
| PAT margin | 0.8% | +34 bps | -57 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 70.40
- P/B
- 2.54
- EV/EBITDA
- 19.70
- Market Cap
- 1898.00Cr
Profitability
- ROE
- 4.10%
- ROCE
- 11.00%
- ROA
- 0.87%
- Dividend Y
- 0.37%
Growth (CAGR)
- Revenue 5Y
- 33.01%
- EPS 5Y
- 76.52%
- Revenue 3Y
- 3.00%
- EPS 3Y
- 3.00%
Balance Sheet
- Debt/Equity
- 0.49
- Interest Coverage
- 1.59×
- Altman Z
- 2.35
- Book Value
- 64.60
Cash Flow
- FCF Yield
- 2.11%
- FCF Positive Y
- 2/5
- OCF
- 21.00 Cr
- EPS TTM
- 1.90
Shareholding
- Promoter Hold
- 62.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 36%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 2,792+7.5% vs prev
Net Profit
₹ CrLatest: 20.0+33.3% vs prev
Return on Equity
%Latest: 2.7+19.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 50. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~11.5% over last month) — short-term momentum negative.
- RSI(14) at 50 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 22% off 52W high · 24% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
48
RS percentile
Stage 1 Base / Transition
1M return
-2.3%
3M return
-6.4%
6M return
-7.1%
1Y return
-12.3%
RS 1D
+2
RS 20D
+8
Sector rank
#3
Industry rank
-
Stage evidence
- Price is within 6.5% of the 30-week proxy.
- The 30-week proxy changed +0.7% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 85.42+1.12%
RS vs Nifty 50085
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation2/30
Growth16/25
Quality0/20
Balance Sheet6/15
Cash Flow4/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
31
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
31/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 16/25 to the score.
- Balance sheet contributes 6/15 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Fair-value margin of safety is negative at -129.2%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 2/30; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
70.4
PB
2.5
EV/EBITDA
19.7
ROE
4.1%
ROCE
11.0%
FCF Yield
2.1%
Debt/Equity
0.5
MoS
-129.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
31
Previous: 30 (+1)
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-129.2%
Previous: -129.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
30
30
30
30
30
30
30
30
30
30
30
30
Factor attribution
Valuation
2+1
was 1
Modelled fair value
Graham Number
₹52.55
-219.5% MoS
Growth-justified P/E
38.5
Growth-justified Value
₹73.24
-129.2% MoS
PEG
1.49
Comparable companies
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
JYOTISTRUC
Small
Jyoti Structures Limited
Construction & Engineering
match 135
37
16.1
10.8%
+58%
WATCHLIST
LANDMARK
Small
Landmark Cars Limited
Auto Components
match 98
32
41.5
6.9%
-13%
WATCHLIST
RICOAUTO
Small
Rico Auto Industries Limited
Auto Components
match 97
31
45.5
7.7%
-33%
OVERVALUED
GOODYEAR
Small
Goodyear India Limited
Auto Components
match 96
34
26.1
12.6%
-712%
WATCHLIST
KROSS
Small
Kross Limited
Auto Components
match 96
48
25.3
12.0%
+28%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Bajel Projects Limited operates in Power Transmission, within the Auto sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
62Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 35th percentile of the scored universe and 21st percentile within Auto. Main check: results consistency is weak at 44/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
29 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
35th percentile
overall median 67 · Auto: 21st pctile, median 74 · Small: 40th pctile, median 66
Evidence depth
Financial-only
29 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
65
acceptable · profit to cash conversion
Balance sheet
59
watch · leverage and solvency
Discipline
52
watch · capital discipline
Results
44
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 62.5%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.9%.
- ▸OPM spread across recent quarters is 2.1%.
Trust risks
- ▸Interest coverage is 1.6x.
- ▸ROE is low at 4.1%.
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Bajel Projects Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Sep - Announcement under Regulation 30 (LODR) - Postal ballot Notice - Newspaper Publication
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 12 Aug - Bajel Projects won a 765kV transmission line order worth INR 600+ crore under WR-ER scheme.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 12 Aug - Bajel Projects bagged ultra-mega EPC transmission line order from PGCIL; execution over 33 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Jun - Intimation of Schedule of Analyst / Institutional Investors' Meet - Dolat Capital.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Jun - Bajel Projects scheduled investor meetings with Nippon India Mutual Fund and Dolat Capital on June 25-26, 2026.
Source: Bse
Concall transcript
Announcement under Regulation 30 (LODR)-Earnings Call Transcript 3 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 3 Jun - Bajel Projects won a Mega EPC order for a 400/220/33 KV GIS substation for a Mumbai data center, to execute in 24 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 13 May - Bajel Projects bags major 400kV transmission line order from PGCIL; 21-month execution.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.