Bajel Projects stock jumps 7% bagging order from PowerGrid Corp; Check the order value

Synopsis: EPC stock receives an order worth Rs 400 Cr from PowerGrid Corp for a 765 kV transmission line. This boosts the company’s Rs 2,912 Cr order book. Post the announcement the  stock jumped by 7 percent to hit an intraday high of Rs 173.

A small-cap EPC company grabbed market attention after securing a Rs 400 Crore PowerGrid order for a 765 kV transmission line. The announcement boosted investor interest, highlighting the company’s growing presence in the power transmission sector as the unexecuted order book is dominated by 93 percent with power transmission projets. With a market cap of Rs 1,972 Cr, Bajel Projects Ltd saw its stock hit an intraday high of Rs 173 which is 7 percent higher than the previous close of Rs 162. 

What’s the News?

Bajel Projects Limited secured an Ultra Mega EPC order worth over Rs 400 crore from PowerGrid Corporation of India to construct a 765 kV transmission line. The project will strengthen the Northern-Western inter-regional corridor, enhance grid stability, reduce congestion, and contribute to India’s long-term power transmission infrastructure development.

The TL02 contract involves building the 765 kV Vindhyachal Pool- Prayagraj double-circuit line. This high-voltage line will ease pressure on the existing Vindhyachal-Varanasi line, improve power flow, boost grid reliability, and ensure balanced electricity exchange between the Northern and Western regions, supporting a stable and efficient transmission network across the region.

This order was announced right after another order worth Rs 200 Cr for expanding the Mandsaur Pooling Station, highlighting Bajel’s strong order book and reinforcing its leadership in power transmission EPC.

As of Q3FY26, the company order book stands at Rs 2912 Crore. When breaking down this number, power transmission dominated with a 93 percent share, followed by power distribution at 7 percent and international EPC at 0.3 percent, highlighting a strong focus on domestic transmission-led infrastructure projects.

Order updates include securing a 400 kV DC quad transmission line project for Siwani Jind in Q2FY26. The company is holding L1 positions in multiple tenders with orders expected in Q4FY26, while strategically increasing bookings in the high-voltage power transmission segment to drive future growth.

Business & Financial Overview

Incorporated in 2022 and headquartered in Mumbai, IndiaBajel Projects Ltd or BPL is an Engineering, Procurement and Construction (EPC) company, demerged from Bajaj Electricals Ltd. The company operates in the power transmission and distribution segment, offering end-to-end solutions including in-house design, testing, procurement, manufacturing, installation, and commissioning of projects. 

In the latest quarter the company saw a YoY revenue fall by 10 percent, going from Rs 622 Cr in Q3FY25 to Rs 562 Cr in Q3FY26, while the QoQ went down by 8 percent from Rs 614 Cr in Q2FY26. The YoY Net Profits of Rs 1.5 Cr in Q3FY25 also turned to a net loss of Rs 50 L in Q3FY26, while it had made a profit of Rs 3.6 Cr in Q2FY26.

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