BAJEL PROJECTS LTD (BAJEL) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of BAJEL PROJECTS LTD ₹56.12, price ₹173, upside -67.6%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch BAJEL PROJECTS LTD for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
33‑month range ₹109.03 – ₹319.86 · fair‑value band ₹52.47 – ₹58.98 · the ₹173.14 price screens above the ₹56.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
Follow BAJEL PROJECTS in your weekly email
Every Wednesday you see whether BAJEL PROJECTS is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Bajel Projects Limited engages in the engineering, procurement, and construction (EPC) for power transmission and distribution projects in India and internationally.
Show more
Bajel Projects Limited engages in the engineering, procurement, and construction (EPC) for power transmission and distribution projects in India and internationally. The company offers turnkey solutions, including engineering, designing, testing, manufacturing, executing, and commissioning of EHV transmission lines; and constructs new infrastructure, as well as the augmentation of existing infrastructure for various power distribution companies and agencies. It also engages in rural/urban electrification; primary distribution substation; and underground cabling activities. In addition, the company designs, manufactures, supplies, and installs monopoles; designs and manufactures a range of transmission, distribution poles, including single poles, twin poles, and special structures, such as cable termination poles, three poles, or quad structures; and tubular substation structures. Further, it provides lattice structure, steel tubular poles, lighting poles and masts; and galvanizing services. Bajel Projects Limited was incorporated in 2022 and is based in Mumbai, India.
Stock analysis
BAJEL PROJECTS LTD (BAJEL) currently trades at ₹173.14, while our model-based Fair Value estimate is ₹56.12, implying the stock looks roughly 208.5% overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ₹135.36 per share, and 0 of the 15 models we run sit above the ₹173.14 price.
Bear case: the Multiples group reads lowest at ₹36.80, and 15 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹52.47 (bear) to ₹58.98 (bull), the price of ₹173.14 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 38/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
BAJEL PROJECTS LTD reported revenue of ₹27.9B in FY2026 versus ₹5.7B in FY2023, a compound +69.9%/yr. Reported net income was ₹203M in FY2026.
Key figures
Market cap ₹22.7B (≈ $237M) · P/E ratio 99.5 · P/S ratio 0.72 · EPS (TTM) ₹1.74 · Net margin 0.7% · Return on equity 2.9% · Return on assets (EBIT) 8.9% · Operating margin 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 27% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at −68%, BAJEL screens richer than that median.
Fair Value models
Bear ₹52.47Fair Value ₹56.12Bull ₹58.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.8581 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+69.9%
’23
’24
’25
’26
What shareholders gained per year (last 3 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +67.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+67.3%
Dividend (yield on the price)0.0%
⚠ Approximate: the rate leans on 2026, which sits 105% above its own trend.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 152 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside−67.6% · Bottom 25%
Profitability
Return on equity (TTM)2.9% · Bottom 25%
Return on assets2.1% · Bottom 25%
Net margin (TTM)0.7% · Bottom 25%
Operating margin (TTM)2.6% · Bottom 25%
Growth and dividend
Revenue growth25.7% · Top 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
P/E (TTM)99.5× · Priciest 25%
P/B3.03× · Priciest 25%
P/S (TTM)0.81× · Cheaper than median
EV/EBITDA21.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)100· sector 31
PAST (return on equity)11· sector 39
HEALTH (low debt)0· sector 52
DIVIDEND (yield)0· sector 70
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is BAJEL PROJECTS LTD (BAJEL) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹56.12 versus a price of ₹173.14, about −68% upside (overvalued).
What is the fair value of BAJEL?
Our model-based fair value for BAJEL PROJECTS LTD is ₹56.12 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹173.14.
What is the quality score of BAJEL?
BAJEL PROJECTS LTD has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for BAJEL PROJECTS LTD (BAJEL)?
Our model-based price target is the fair value of ₹56.12 (as of Sep 27, 2026) from 15 valuation models. Cautious scenario ₹52.47, optimistic scenario ₹58.98. It is a calculation from audited fundamentals, not an analyst target.
What is the BAJEL PROJECTS LTD stock forecast for 2026?
Our models put fair value at ₹56.12, about −68% upside versus a price of ₹173.14 (overvalued). Cautious scenario ₹52.47, optimistic scenario ₹58.98. The calculation is refreshed regularly with new filings.
What is the revenue of BAJEL PROJECTS LTD (BAJEL)?
BAJEL PROJECTS LTD reported trailing-twelve-month revenue of about ₹27.9B (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of BAJEL PROJECTS LTD (BAJEL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BAJEL PROJECTS LTD it is ₹56.12 per share (as of Sep 27, 2026), against a price of ₹173.14. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is BAJEL PROJECTS LTD stock overvalued or undervalued in 2026?
As of Sep 27, 2026, BAJEL trades above its calculated fair value: price ₹173.14, fair value ₹56.12, a gap of about −68% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BAJEL?
No. The price is what the market pays today (₹173.14); the fair value is what the company's own numbers justify (₹56.12). For BAJEL PROJECTS LTD the two are ₹117.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is BAJEL PROJECTS LTD worth?
The market values BAJEL PROJECTS LTD at about ₹22.7B (market capitalisation, as of Sep 27, 2026). Per share that is ₹173.14; our models calculate a fair value of ₹56.12 per share.
What do the bullish and bearish scenarios say about BAJEL?
Our models span a range for BAJEL PROJECTS LTD: cautious scenario ₹52.47, base ₹56.12, optimistic ₹58.98 per share (as of Sep 27, 2026, price ₹173.14). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BAJEL?
BAJEL PROJECTS LTD trades at a price-to-earnings ratio of 99.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹56.12 is built from several models across several years. Other multiples: P/B 3.0, P/S 0.8, EV/EBITDA 21.3.
How solid is the balance sheet of BAJEL PROJECTS LTD (BAJEL)?
Balance-sheet figures for BAJEL PROJECTS LTD (as of Sep 27, 2026): return on equity 2.9%. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is BAJEL from its 52-week high?
BAJEL PROJECTS LTD trades at ₹173.14, about 19% below its 52-week high of ₹212.47 and 27% above the low of ₹136.80 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹56.12 is for.
Which stocks are comparable to BAJEL PROJECTS LTD?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is BAJEL PROJECTS LTD stock attractive at the current price?
The data as of Sep 27, 2026: price ₹173.14, calculated fair value ₹56.12 (−68%), Quality Score 38/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BAJEL calculated?
We run BAJEL PROJECTS LTD through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹56.12, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. BAJEL PROJECTS LTD itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of BAJEL PROJECTS LTD (BAJEL)?
The closing price on Sep 25, 2026 was ₹173.14. Our model-based fair value is ₹56.12, about −68% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BAJEL PROJECTS LTD right now?
The price sits above even our optimistic bull case (₹58.98). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The models converge in a tight band (₹52.47 to ₹58.98), unusually little disagreement for a valuation.
Key figures of BAJEL PROJECTS LTD
How large is the market capitalisation of BAJEL PROJECTS LTD (BAJEL)?
The market capitalisation of BAJEL PROJECTS LTD is ₹22.7B (≈ $237M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of BAJEL PROJECTS LTD (BAJEL)?
The price-to-sales ratio of BAJEL PROJECTS LTD is 0.72 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BAJEL PROJECTS LTD (BAJEL)?
Earnings per share at BAJEL PROJECTS LTD are ₹1.74 (price ÷ EPS = P/E 99.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of BAJEL PROJECTS LTD (BAJEL)?
The net margin of BAJEL PROJECTS LTD is 0.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BAJEL PROJECTS LTD (BAJEL)?
The return on equity (ROE) of BAJEL PROJECTS LTD is 2.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of BAJEL PROJECTS LTD (BAJEL)?
On an EBIT basis the return on assets of BAJEL PROJECTS LTD is 8.9% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of BAJEL PROJECTS LTD (BAJEL)?
The operating margin of BAJEL PROJECTS LTD is 2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BAJEL PROJECTS LTD (BAJEL)?
Revenue at BAJEL PROJECTS LTD is growing +25.7% versus a year earlier (3y avg +69.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at BAJEL PROJECTS LTD (BAJEL)?
Earnings per share at BAJEL PROJECTS LTD are growing +191% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does BAJEL PROJECTS LTD (BAJEL) generate?
The free cash flow of BAJEL PROJECTS LTD is −₹576M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BAJEL PROJECTS LTD (BAJEL) carry?
The net debt of BAJEL PROJECTS LTD is ₹1.8B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch BAJEL PROJECTS LTD in the live analysis
One click puts BAJEL PROJECTS LTD on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
