Bajaj Steel Industries share price & results
- Jun 2026
- Sept 2026
Nagpur-based multi-product engineering company and world leader in cotton ginning machinery, diversified into pre-engineered buildings, electrical panels and heavy engineering fabrication.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 120 | +11.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 4.9 | −7.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -0.27 | −103.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 7.21 | −5.0 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 2.86 | +3.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -2.59 | −16.6 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −44.5% 1Y
1Y: ₹545.9 on 24 Oct 2025 → ₹302.75. High ₹578.75 (11 Nov 2025), low ₹298.2 (26 Oct 2026).
- Previous close
- ₹298.2
- Market cap
- ₹624 Cr
- 52-week range
- ₹298.2 – ₹578.75
- One year
- −46.19%
- Price to earnings (TTM to Jun 2026)
- 21.34×
- Return on equity (TTM to Jun 2026)
- 7.21%
Overview
- Symbol
- NSE:BAJAJST
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Bajaj Steel Industries Limited does
Based on the company's own presentations, annual report and earnings calls.
Bajaj Steel Industries manufactures cotton ginning machinery (roller, saw and roto-bar ginning technologies, delinting equipment and bale presses) sold domestically and exported to 60+ countries. It has diversified into an Infrastructure division that designs, fabricates and erects pre-engineered buildings, industrial sheds, warehouses and solar mounting structures on EPC/turnkey basis; an Electrical Panels division making power/motor control centres, APFC, LT/HT and PLC-SCADA panels as a channel partner of Schneider Electric, ABB and Mitsubishi; and a Heavy Engineering division producing custom steel fabrications, aerobridges/passenger boarding systems and biomass pellet plant equipment. It also makes fire-fighting systems, steel doors, ducts, conveyors and other industrial products.
Segments
- Cotton Ginning Machinery
- Infrastructure (PEBs)
- Electrical Panels
- Heavy Engineering
- Other Products
- Manufacturing facilities
- 14 facilities, ~100,000 sq. mtrs (10 lakh+ sq. ft.) built-up area across 5 divisions, Nagpur
- Countries with presence
- 60+
- Cotton ginning plants supplied
- 3,000+
- Workforce
- 2,000+ (incl. 200+ design & detailing engineers)
- Wholly-owned subsidiaries
- 4 (USA, Uganda, Brazil x2)
- Global market share — cotton ginning machinery
- ~35-40% global, 50% domestic
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −104% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 152 | 138 | 154 | 108 | 175 | 125 | 117 | 120 |
| Expenses | 127 | 117 | 129 | 94 | 143 | 116 | 111 | 114 |
| Operating profit | 25 | 21 | 24 | 14 | 32 | 9 | 6 | 6 |
| Operating margin | 16.6% | 15.1% | 15.8% | 12.6% | 18.2% | 7.4% | 4.8% | 4.9% |
| Other income | 2 | 2 | 6 | 1 | 2 | 4 | 6 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 6 | 4 | 4 | 4 | 6 | 5 |
| Profit before tax | 23 | 18 | 23 | 10 | 28 | 8 | 4 | 1 |
| Tax rate | 25.0% | 25.8% | 22.4% | 25.5% | 24.8% | 26.0% | 39.1% | 131.0% |
| Net profit | 17 | 14 | 18 | 7 | 21 | 6 | 2 | -0 |
| EPS (₹ per share) | 8.38 | 6.59 | 8.68 | 3.56 | 10.23 | 2.84 | 1.12 | -0.13 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 521 | 551 | 585 | 524 |
| Expenses | 431 | 469 | 493 | 464 |
| Operating profit | 90 | 82 | 92 | 60 |
| Other income | 20 | 16 | 39 | 12 |
| Interest | 7 | 5 | 4 | 5 |
| Depreciation | 10 | 13 | 15 | 18 |
| Profit before tax | 92 | 80 | 112 | 50 |
| Net profit | 66 | 59 | 84 | 37 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 10 | 10 | 10 |
| Reserves | 204 | 271 | 330 | 377 | 404 | 414 |
| Borrowings | 64 | 43 | 64 | 65 | 50 | 63 |
| Other liabilities | 124 | 129 | 168 | 151 | 166 | 213 |
| Total liabilities | 395 | 446 | 564 | 604 | 629 | 699 |
| Fixed assets | 86 | 111 | 185 | 218 | 168 | 255 |
| Capital work in progress | 14 | 24 | 10 | 19 | 41 | 27 |
| Investments | 4 | 22 | 22 | 9 | 10 | 12 |
| Other assets | 291 | 289 | 347 | 358 | 411 | 405 |
| Total assets | 395 | 446 | 564 | 604 | 629 | 699 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 89 | 55 | 27 | 55 | 52 | 78 |
| Cash from investing | -12 | -20 | -52 | -66 | -38 | -58 |
| Cash from financing | -19 | 4 | -22 | 19 | -26 | -5 |
| Net cash flow | 59 | 39 | -47 | 8 | -12 | 15 |
| Free cash flow | 73 | 30 | -12 | -17 | -4 | 16 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 49 | 20 | 25 | 33 | 30 | 40 |
| Inventory days | 117 | 144 | 150 | 184 | 197 | 251 |
| Days payable | 110 | 87 | 107 | 109 | 92 | 134 |
| Cash conversion cycle | 56 | 77 | 68 | 108 | 135 | 156 |
| Working capital days | 18 | 1 | 28 | 29 | 54 | 40 |
| Return on capital employed | 48.0% | 23.0% | 31.0% | 24.0% | 21.0% | 12.0% |
| Dividend payout | 2.0% | 3.0% | 2.0% | 3.0% | 2.0% | 6.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Steel and Related Products contributes 100.0% of reported segment revenue.
Year ended 31 Mar 2024 · Consolidated
- Steel and Related Products 100.0%
₹550.96 crore
- Others 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Steel and Related Products | 550.96 | 100.0% |
| Others | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹550.96 crore
- Intersegment adjustment
- ₹0.00 crore
- Net segment revenue
- ₹550.96 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Sep 2023 | Dec 2023 | Mar 2024 | YoY growth latest quarter |
|---|---|---|---|---|
| Steel and Related Products | — | 100% | 100% | — |
| Others | 0% | 0% | 0% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
Growth trapTo justify its price of ₹303, this stock must grow earnings at 19% every year for 7 years. Our analysis caps realistic growth at ~-15%. At that growth it is worth ₹49 — downside of 84%.
- Growth the price implies
- 18.9% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -14.7% a year
- net profit, FY23–FY26 · EPS -14.7%
- The gap
- 0.3 pp
- -84% downside if it only repeats history
Ownership
Who owns it
Promoters hold 56.62% as of Sept 2026; institutions cut 0.01 pts since Jun 2026.
- Promoters 56.62%
- Foreign institutions 0.03%
- Domestic institutions 0.01%
- Public 43.34%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 15.19% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Bajaj Steel Industries Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 16.39% | unchanged | |
| 15.19% | newly disclosed | |
| 14.76% | unchanged | |
| 3.54% | −0.08 pp | |
| 3.33% | unchanged | |
| 1.88% | unchanged | |
| 1.81% | unchanged | |
| 1.72% | unchanged | |
| 1.20% | unchanged | |
| 1.13% | unchanged | |
| 1.13% | unchanged | |
| 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.
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