507944

Bajaj Steel Inds financials

Market cap
₹758 Cr
Sector
Capital Goods

What Bajaj Steel Inds does

Bajaj Steel Industries designs, manufactures and exports cotton ginning and pressing machinery (Double Roller, Saw Gin, Roto-Bar and Single Roller ginning technologies, plus delinting/decorticating equipment and bale presses) from its Nagpur manufacturing base, serving cotton processors in 60+ countries. It has diversified into four further engineering verticals: Pre-Engineered Buildings and turnkey infrastructure/EPC projects, electrical panels made as a channel partner for ABB, Schneider Electric and Mitsubishi, heavy-engineering fabrication including airport aerobridges and biomass-plant structures, and other industrial products such as fire-fighting systems, steel doors, conveyors and HVAC equipment. It earns revenue by selling this machinery/equipment and executing fabrication and EPC projects for industrial, agricultural and infrastructure clients in India and abroad.

Segments

  • Cotton Processing Machinery
  • Infrastructure (Pre-Engineered Buildings)
  • Electrical Panels
  • Heavy Engineering
  • Other Products
Manufacturing facilities
14 (all in Nagpur), ~1 lakh sq. mtrs. (1M+ sq. ft.) built-up area
Country presence
60+ countries
Workforce
2,000+ employees, incl. 200+ design & detailing engineers
Cotton ginning plants supplied
3,000+
Wholly owned overseas subsidiaries
4 (USA, Uganda, Brazil x2)
Infrastructure (PEB) manufacturing capacity
35,000 MTPA
Founded 1961Headquarters Nagpur, Maharashtra, IndiaEmployees 2,000 (FY25) Company website

Quarterly results

Q1 FY27: revenue up 11.9%, net profit down 103.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue152 138 154 108 175 +15%125 −9%117 −24%120 +12%
EBITDA25 21 24 14 32 +26%9 −55%6 −77%6 −57%
Net profit17 14 18 7 21 +22%6 −57%2 −87%-0 −104%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −29.6% 1Y

₹300₹400₹500₹600Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹525.2 on 10 Sept 2025 → ₹369.7. High ₹602.6 (23 Sept 2025), low ₹307.2 (30 Mar 2026).

Financials, as filed

Revenue fell 0.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 11.5%.

Year endingFY23FY24FY25FY26
Revenue₹534 Cr₹551 Cr₹585 Cr₹524 Cr
Operating profit₹92 Cr₹82 Cr₹92 Cr₹60 Cr
Operating margin17.2%14.9%15.8%11.5%
Interest₹7 Cr₹5 Cr₹4 Cr₹5 Cr
Depreciation₹10 Cr₹13 Cr₹15 Cr₹18 Cr
Net profit₹68 Cr₹59 Cr₹84 Cr₹37 Cr
Net margin12.6%10.7%14.4%7.0%
Cash from operations₹27 Cr₹55 Cr₹52 Cr₹78 Cr
Free cash flow₹-12 Cr₹-17 Cr₹-4 Cr₹16 Cr
ROCE31.0%24.0%21.0%12.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹10 Cr₹10 Cr
Reserves₹169 Cr₹204 Cr₹271 Cr₹330 Cr₹404 Cr₹414 Cr
Borrowings₹51 Cr₹64 Cr₹43 Cr₹64 Cr₹50 Cr₹63 Cr
Other liabilities₹147 Cr₹124 Cr₹129 Cr₹168 Cr₹166 Cr₹213 Cr
Total liabilities₹369 Cr₹395 Cr₹446 Cr₹564 Cr₹629 Cr₹699 Cr
Fixed assets₹80 Cr₹86 Cr₹111 Cr₹185 Cr₹168 Cr₹255 Cr
Capital work in progress₹4 Cr₹14 Cr₹24 Cr₹10 Cr₹41 Cr₹27 Cr
Investments₹4 Cr₹4 Cr₹22 Cr₹22 Cr₹10 Cr₹12 Cr
Other assets₹281 Cr₹291 Cr₹289 Cr₹347 Cr₹411 Cr₹405 Cr
Total assets₹369 Cr₹395 Cr₹446 Cr₹564 Cr₹629 Cr₹699 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters added +8.35 pp while the public trimmed −8.24 pp. The shareholder count shrank 2% to 23,071.

Promoters
56.6%
FIIs
0.0%
DIIs
0.0%
Public
43.4%

Since Jun 2025

  • Promoters +8.35 pp
  • Public −8.24 pp
  • FIIs −0.11 pp

How it drifted, 12 quarters

Over this window promoters went from 47.7% to 56.6% — +8.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 47.7%, FIIs 0.1%, Public 52.3%.Dec '23: Promoters 47.8%, FIIs 0.1%, Public 52.2%.Mar '24: Promoters 48.4%, FIIs 0.1%, Public 51.5%.Jun '24: Promoters 48.3%, FIIs 0.1%, Public 51.7%.Sep '24: Promoters 48.3%, FIIs 0.2%, Public 51.6%.Dec '24: Promoters 48.3%, FIIs 0.1%, Public 51.6%.Mar '25: Promoters 48.3%, FIIs 0.1%, DIIs 0.1%, Public 51.6%.Jun '25: Promoters 48.3%, FIIs 0.1%, DIIs 0.0%, Public 51.6%.Sep '25: Promoters 48.3%, FIIs 0.1%, DIIs 0.0%, Public 51.7%.Dec '25: Promoters 56.6%, FIIs 0.0%, DIIs 0.0%, Public 43.3%.Mar '26: Promoters 56.6%, FIIs 0.0%, DIIs 0.0%, Public 43.3%.Jun '26: Promoters 56.6%, FIIs 0.0%, DIIs 0.0%, Public 43.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Bajaj Steel Inds above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Vidarbha Tradelinks Private Limited 16.39%unchanged
Sidhi Vinimay Private Limited Corporate15.19%unchanged
Rohit Bajaj 14.76%unchanged
Investor Education And Protection Fund A 3.62%−0.07 pp
Sunil Bajaj 3.33%unchanged
Bajaj Global Limited 1.88%unchanged
Bina Bajaj 1.81%unchanged
Kumkum Bajaj 1.72%unchanged
Manish Goel 1.21%−0.37 pp
Lav Bajaj 1.13%unchanged
Kush Bajaj 1.13%unchanged
Varun Bajaj 0.96%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth trap

To justify its price of ₹370, this stock must grow earnings at 23% every year for 7 years. Our analysis caps realistic growth at ~-15%. At that growth it is worth ₹47 — downside of 87%.

Growth the price implies
22.8% a year
for 7 years, fading to 4%
It has actually compounded at
-15.3% a year
net profit, FY23–FY26 · EPS -15.3%
The gap
0.4 pp
-87% downside if it only repeats history
Price today ₹369.7 Value at the reference growth ₹47.46

Change the assumptions yourself →

Learn to analyse Bajaj Steel Inds

Guides on how to read this kind of business and the numbers that matter.