EPC Company Bags Order Worth Rs 586 crore from PowerGrid Corporation of India; Stock Rallied Over 5 Per cent Today!
The company’s shares have delivered an impressive return of around 55 per cent in the past 1 year.
Incorporated in 2022, Bajel Projects Ltd is engaged in the business of Engineering, Procurement, and Construction (EPC). Bajel Projects Limited (BPL) was carved out as a separate legal entity from Bajaj Electricals Ltd. Its EPC segment encompasses power transmission and power distribution. BPL offers comprehensive solutions, including in-house design, testing, procurement, manufacturing, installation, and commissioning of projects.
The company has secured an order from PowerGrid Corporation of India Limited on behalf of their project-specific SPV, Beawar-Mandsaur Transmission Limited. The order is for Transmission Line Package TL01, which involves the 765 kV D/c Beawar–Mandsaur PS Transmission Line – Part I. This project is associated with the "Transmission System for Evacuation of Power from Rajasthan REZ Ph-IV (Part-2: 5.5 GW) (Jaisalmer/Barmer Complex) Part-D" and was awarded through the Tariff-Based Competitive Bidding (TBCB) route. The project has a value of Rs 586.28 crore (excluding taxes) and is to be completed within 23 months from the date of issuance of the notification of award.
Bajel Projects Ltd shares are trading at around Rs 286.50 per share. The company’s current market capitalization stands at Rs 3304.49 crore. The stock has delivered a return of over 55 per cent in the past 6 months.
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As per the Quarterly Results, in the fourth quarter of FY24, Bajel Projects Ltd recorded a revenue of Rs 489.16 crore. The operating profit for Q4 FY24 stood at Rs 7.85 crore. The net profit for Q4 FY24 was Rs 7.07 crore. Looking at the annual performance, the company generated a revenue of Rs 1169 crore in FY24. The operating profit for FY24 was Rs 10 crore with a net profit of Rs 4 crore.
According to the shareholding pattern, promoters own 62.72 per cent, and public investors own 29.17 per cent. FIIs and DIIs own a 0.29 per cent and 7.83 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.