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Bajel Projects Limited reported a remarkable performance for the third quarter and nine months ended December 31, 2024. Total revenue from operations surged by 126% to ₹622.38 Cr compared to ₹275.08 Cr in Q3 FY’24. For the nine-month period, total revenue reached ₹1,796.81 Cr, an impressive growth of 164% from ₹680.05 Cr last year.
The profit before tax for the nine months was ₹17.65 Cr, a significant turnaround from a loss of ₹2.73 Cr in the corresponding period last year, driven by strong project execution and operational efficiencies. In contrast, Q3 FY’25 saw a slight decline in profit before tax to ₹3.43 Cr, down 27% from ₹4.69 Cr in Q3 FY’24. Net profit after tax stood at ₹1.46 Cr, reflecting a 57% drop year-over-year.
EBITDA for the third quarter increased by 119% to ₹22.09 Cr, while the nine-month figure rose dramatically to ₹62.83 Cr, up 541% from ₹9.80 Cr in the prior year. The EBITDA margin for Q3 FY’25 was stable at 3.55%, indicating consistent operational efficiency despite fluctuations in revenue growth.
The balance sheet appears healthy with a robust order book bolstered by securing three major orders in January, adding approximately ₹940 Cr. This expansion reinforces the company’s strategic focus on maintaining operational excellence and growing its market share in the power infrastructure sector.
Investor sentiment is positive, suggesting a "buy" strategy driven by strong growth, improved profitability, and a solid order pipeline, though Q3’s profit decrease warrants continued monitoring of operational costs and execution efficiency.