Bajel Projects Limited , a Bajaj Group power infrastructure EPC company, has scheduled its 4th Annual General Meeting (AGM) for Monday, August 10, 2026, at 3:00 p.m. IST, to be held via Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The company reported a strong financial performance for FY 2025-26, with net profit rising 74.30% to ₹26.95 crore, and recommended a final dividend of ₹0.60 per equity share. The meeting venue is deemed to be the Registered Office of the Company in Mumbai. The company has also informed the exchanges that the Annual Report for FY 2025-26 is available on its website.

AGM Agenda and Key Resolutions

The AGM will transact both ordinary and special business. The ordinary business includes adoption of audited standalone and consolidated financial statements for FY 2025-26, re-appointment of Mr. Rajesh Ganesh (DIN: 07008856) as director retiring by rotation, and declaration of a final dividend. The special business covers four additional resolutions.

The following table summarises the key AGM details:

Final Dividend Declaration

The Board of Directors has recommended a final dividend of ₹0.60 per equity share of face value ₹2 each (30% on face value) for the financial year ended March 31, 2026. Subject to shareholder approval at the AGM, the total dividend outgo will amount to ₹6.94 Crore, payable on or before September 8, 2026. The record date for determining eligible shareholders has been fixed as Friday, July 31, 2026. The dividend will be taxable in the hands of shareholders, subject to Tax Deduction at Source (TDS) at applicable rates.

Special Business Resolutions

The AGM will consider four special business items:

• Borrowing Limit Enhancement: Approval to enhance the Board's borrowing limit under Section 180(1)(c) of the Companies Act, 2013, from ₹3,500 Crores to ₹5,000 Crores.
• Mortgage/Charge on Assets: Corresponding authorisation to create mortgage/charge on assets under Section 180(1)(a) up to an aggregate limit of ₹5,000 Crores.
• Cost Auditor Remuneration: Ratification of remuneration of ₹1.21 Lakhs (Rupees one lakh twenty one thousand only) plus applicable taxes payable to Messrs R. Nanabhoy & Co., Cost Accountants, for FY 2026-27.
• Director Appointment: Appointment of Ms. Pooja Bajaj (DIN: 08254455) as Non-Executive Non-Independent Director, who was appointed as Additional Director with effect from May 27, 2026. Ms. Pooja Bajaj is the daughter-in-law of Mr. Shekhar Bajaj, Non-Executive Chairman of the Company.
• Commission to Non-Executive Directors: Approval for payment of commission to Non-Executive Directors for FY 2025-26 and for a period of three financial years commencing from FY 2026-27.

FY2026 Financial Performance

FY2025-26 marked a significant step-up in Bajel Projects' financial profile. The company reported the following standalone financial results:

FY2026 revenue is 4.2x FY2023 levels, while EBITDA is 9.6x FY2023, with EBITDA margin expanding by 250 bps. Q4 FY2026 was a standout quarter, with revenue crossing ₹1,000 Cr and PBT before exceptional items moving to ₹19 Cr.

On a consolidated basis, the group achieved revenue of ₹2,791.58 crore, with net profit of ₹20.28 crore for FY 2025-26. The paid-up equity share capital as at March 31, 2026 stood at ₹23.14 crore comprising 11,56,96,935 equity shares of ₹2 each.

Key Operational and Strategic Highlights

FY2025-26 was a landmark year for Bajel Projects across operational and strategic dimensions. The company commissioned approximately 10% of India's total transmission network during the year, covering 1,168 ckms. Manufacturing production at Ranjangaon reached 56,514 MT, the highest production to date. The company secured major transmission line orders including a 400/220 kV AIS Substation at Saswad from MSETCL and a 765 kV Vindhyachal Pool-Prayagraj double-circuit line contract.

On the strategic front, the company announced a landmark 50:50 joint venture with Al Sharif in the Kingdom of Saudi Arabia to pursue High Voltage and Extra High Voltage EPC contracts. It also signed a tripartite collaboration agreement with the National Investment and Infrastructure Fund (NIIF) and AnantGrid Private Limited to participate in India's power transmission growth through a developer-EPC model. The galvanisation capacity expansion at Ranjangaon from 40,500 MT per annum to 1,10,000 MT per annum was also progressed during the year.

Key sustainability milestones included achieving Zero Liquid Discharge at the Ranjangaon facility, an 18.00% reduction in third-party freshwater withdrawal, and on-site solar generation that helped avoid approximately 510 MT CO2e emissions while reducing electricity costs by ₹60.12 Lakh. The company's SES ESG Score improved to 62.00 (up from 59.30).

Credit Ratings and Corporate Governance

CRISIL Ratings Limited reaffirmed the company's long-term bank loan facility rating at CRISIL A/Stable and short-term bank loan facility at CRISIL A1 during FY 2025-26. The company's Board comprised seven directors as at March 31, 2026, with Independent Directors constituting half the total Board strength. Seven Board meetings were held during FY 2025-26.

The company's total employee strength as of March 31, 2026 stood at 822 permanent employees. Project NEEV, launched during the year, serves as the enterprise transformation programme integrating digital PMO dashboards, GPS-enabled fleet monitoring, and system-enabled project tracking to strengthen operational scalability and execution discipline.

Bajel Projects announced the demise of its Independent Director, Dr. Rajendra Prasad Singh, on July 16, 2026. The company disclosed this information to the stock exchanges, citing the profound loss to its governance and strategic direction. Dr. Singh served on the Board, contributing his experience and integrity to the company.

The notification was submitted to BSE Limited and the National Stock Exchange of India Limited on July 17, 2026. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2025. The Board of Directors and employees extended their condolences to his family.

Details of the Change

The company provided specific details regarding the cessation of the director's tenure in the filing. The following table outlines the particulars of the change in the Board composition.

The filing referenced SEBI Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, for the disclosure format. The document was signed by Ame Bharatbhai Joshi, Company Secretary and Chief Compliance Officer.