Bajaj Group-Backed EPC Company Bags Order from MPPTCL for the Construction of 132KV Transmission Lines in Bhopal
With a PE ratio of 88.3x, the company trades at a premium compared to the industry PE of 32.1. The company has a ROCE of 6.19 per cent and an ROE of 0.91 per cent.
Shares of Bajel Projects Limited saw high demand in the early trading session as the company has secured a significant Engineering, Procurement, and Construction (EPC) order from Madhya Pradesh Power Transmission Corporation Limited (MPPTCL) for the construction of 132KV transmission lines in Bhopal. The order involves the installation of monopoles, lattice structures, extra high voltage (EHV) underground cables, and substation feeder bays.
The project, classified as a large order under the company's categorisation, falls within the Rs 100 crore to Rs 200 crore range, inclusive of GST. It includes the construction of 132kV double-circuit, double-system (DCDS) overhead and underground transmission lines from 220 kV substations at Bairagarh to RSS Karond and Adampur to RSS Ratnagiri Tiraha. Additionally, it covers the installation of 220kV, 160 MVA power transformers to facilitate power supply for the Bhopal Metro Rail Project (TR-39/2024).
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The contract is expected to be completed within 24 months from the issuance of the Notification of Award. This latest contract win strengthens Bajel Projects Limited's position in the power transmission sector, contributing to infrastructure development for the metro rail network in Bhopal.
Incorporated in 2022, Bajel Projects Ltd is in the business of Engineering, Procurement and Construction. Bajel Projects Limited (BPL) is a legal entity carved out from Bajaj Electricals Ltd. Its EPC segment comprises Power Transmission & Power Distribution. BPL provides end-to-end solutions ranging from in-house design, testing, procurement, manufacturing, installation & commissioning of the projects.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 622.39 crore, reflecting a YoY growth of 126.26 per cent compared to Rs 275.08 crore in December 2023. The operating profit stood at Rs 14.64 crore, marking a 60.53 per cent increase from Rs 9.12 crore in the same quarter last year. However, the profit after tax (PAT) declined by 56.55 per cent to Rs 1.46 crore from Rs 3.36 crore in December 2023.
In FY24, the company posted a revenue of Rs 1,169.19 crore, registering a 76.19 per cent growth compared to Rs 663.61 crore in FY23. The net profit for the year stood at Rs 4.29 crore, compared to a net loss of Rs 1.58 crore in the previous financial year.
With a PE ratio of 88.3x, the company trades at a premium compared to the industry PE of 32.1. The company has a ROCE of 6.19 per cent and an ROE of 0.91 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.