BAJEL / Q4-FY26 / claim-ledger

Audit the questions that mattered.

Bajel Projects · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY26 · 2026-04-??Back to quarter ↗

Questions audited

Answered directly

64%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Rahul Kumar Mishra · Antic

partial

Asked about margin trajectory and whether legacy orders are impacting margins.

last six months uh the the commodities have been on a bit of a run... we are in conversation with our customers to see given the extraordinary circumstances if if some sort of leeway can be provided.

Nishita Sanisha · Sapphire Capital

direct

Asked about capex, timeline for capacity expansion, revenue guidance, and order book.

the overall capex outlay in Nishita is 170 crores... we're trying to do that in three phases... we targeting anywhere upwards of 15%... the current order book as you know stands slightly south of 3,500 crores... we've already received orders worth,000 crores and we are L1 in orders worth another 2,000 crores.

Nishita Sanisha · Sapphire Capital

evasive

Follow-up: asked about revenue potential from expanded facility and ramp-up plan.

The endeavor here is really to try to insource as much as possible the raw material that we need... to ensure that we protect our margins... the big objective is to ensure that we have sufficiently in-houseed our captive demand.

Yeshaic (likely Yesha Securities) · Yeshaic stock broking

partial

Asked about industry dynamics and HVDC project plans.

India is uh one of those markets uh is is an exciting market for power transmission and distribution... we do not have HBDC in our portfolio yet but uh but we are keen... we are waiting for the right opportunity when it comes to HBDC really.

Ashok Jen · Aush Capital

direct

Asked about impact of SPV equity stake on financials and dual role as EPC contractor.

we have no interest in in asset ownership... the financing of it is largely going to be done by NIF... we'd be taking a small equity and in return what we're getting is uh is uh the EPC agreement backto-back EPC agreement... we would be exited out uh as soon as the the you know the project is is commissioned.

Ashok Jen · Aush Capital

partial

Asked about losses from employee welfare trusts and whether more losses are expected.

these are five employed trusts and the impact is primarily because of the mark to market that we have done... as they improve as the share prices come back we should be able to uh bring back those numbers back on track the the real impact of the share of profit and loss is uh is 6.68 and 1.57 for the quarter ended 31st March 2026.

Vidang (likely from Choice AMC) · Choice AMC

direct

Asked about working capital increase, receivables, and normalization timeline.

The datas have increased by around 590 crores from 1258 crores to 1849 crores... one marquee customer held back payments in the last fortnight of March of around 225 crores... both of these have been collected by us... till date we have collected most part of it.