General Updates

July 17, 2026 BSE Limited : Code No. 544042 Department of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 National Stock Exchange of India Limited : BAJEL – Series: EQ Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Dear Sir/Madam, Sub.: Notice of the 4th Annual General Meeting (“4th AGM”) of Bajel Projects Limited (“Company”) and the Annual Report for Financial Year 2025-26. Pursuant to the provisions of Regulations 34 and 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations"), we hereby submit the Annual Report of the Company for the financial year ended March 31, 2026, containing, inter-alia, the Notice convening the 4th AGM of the Company to be held on Monday, August 10, 2026, at 03:00 P.M. (IST) via Video Conferencing (VC)/Other Audio- Visual Means (OAVM), to transact the following businesses: Ordinary Businesses: - 1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements including Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss for the year ended on that date together with Directors’ and Auditors’ Report thereon. (Ordinary Resolution). 2. To appoint a director in place of Mr. Rajesh Ganesh (DIN: 07008856), who retires by rotation and being eligible, offers himself for re-appointment. (Ordinary Resolution) 3. Declaration of final dividend on the equity shares of the Company for the financial year ended March 31, 2026. Special Businesses: - 4. To consider and approve for giving authorization to the Board of Directors for borrowing under Section 180(1)(c) of the Companies Act, 2013 upto an aggregate limit of ₹ 5,000 crores. (Special Resolution) 5. To consider and approve the proposal of giving authorization to the Board of Directors, for creation of mortgage/charge on assets of the Company, under Section 180(1)(a) of the Companies Act, 2013 up-to an aggregate limit of ₹ 5,000 Crores. (Special Resolution) 6. To ratify the remuneration of Cost Auditors of the Company for the financial year ending March 31, 2027. (Ordinary Resolution) 7. To appoint Ms. Pooja Bajaj (DIN: 08254455) as a Non-Executive and Non-Independent Director of the Company. (Ordinary Resolution) 8. Approval for Payment of Commission to Non-Executive Directors. (Special resolution) The Notice of the ensuing 4th AGM of the Company and the Annual Report for the financial year ended March 31, 2026, are being dispatched to the Members, whose email IDs are registered with the Company or MUFG Intime India Private Limited (“RTA”) or their Depositories, through electronic mode today i.e., July 17, 2026. Brief details of the 4th AGM of the Company are as under: Date and time of AGM Monday, August 10, 2026 at 3:00 p.m. Mode Video conference and other audio-visual means Web-link for participation through VC https://instameet.in.mpms.mufg.com Record date for Final Dividend Friday, July 31, 2026 Dividend payment date On or before September 8, 2026 Cut-off date for e-Voting Monday, August 3, 2026 E-Voting start time and date Wednesday, August 5, 2026, at 09:00 a.m. (IST) E-Voting end time and date Sunday, August 9, 2026, at 05:00 p.m. (IST) The Business Responsibility and Sustainability Report (BRSR) for the Financial Year 2025-26 which is a part of the Annual Report is also uploaded on the website of the Company at https://www.bajelprojects.com/investor-relations.html We request you to take the above on record and that the same be treated as compliance under the applicable provisions of the SEBI Listing Regulations and other applicable laws, if any Thanking you, Yours faithfully, For Bajel Projects Limited Amee Bharatbhai Joshi Company Secretary & Chief Compliance Officer Membership No: - A22502 Encl.: As above SEAMLESS EXECUTION DRIVING SUSTAINABLE GROWTH EXECUTION THAT Sustainable growth begins when execution BUILDS QUALITY- discipline becomes repeatable. LED GROWTH FY2026 marks Bajel’s transition to EPC Order Book (As at 31 March 2026) FY2026 Performance for Revenue from Operations building a more selective, scalable, ₹3,442 Cr ₹2,792 Cr and sustainable growth platform while proving its execution capabilities. Standalone EBITDA Growth PAT Growth India’s power infrastructure landscape is entering a decisive phase. Transmission expansion, renewable evacuation, grid 38% YoY 74% YoY modernisation and energy-security priorities are creating long-cycle opportunities for companies that can deliver complex projects with reliability and discipline. For Bajel Projects Limited, FY2026 was not about pursuing growth for its own sake. It was about converting opportunity through better selectivity, stronger execution systems, manufacturing readiness, supply-chain discipline, project controls and a sharper focus on business quality. This is the progression behind the theme: Seamless Execution Driving Sustainable Growth. Execution remains Bajel’s heartbeat. It connects engineering, procurement, manufacturing, safety, digital monitoring and on-ground delivery into one operating rhythm. That rhythm is enabling the Company to participate in more demanding opportunities, strengthen customer confidence and build the foundation for the next phase of RAASTA 2030. The year reflects a clear shift from execution as a capability to execution as a growth multiplier. With a stronger order book, improved profitability and continued progress in technically complex segments, Bajel is preparing for scale with discipline rather than chasing scale without quality. Sustainable growth, for Bajel, means growth built on the right projects, stronger margins, repeatable delivery and institutional execution depth. FY2026 shows that this platform is taking shape. 2 Bajel Projects Limited – Annual Report 2026 www.bajelprojects.com 3 WHAT’S INSIDE Reports Board of Directors 74 Corporate Information 75 Notice of the Annual General Meeting 76 6 64 Directors’ Report 102 Report on Corporate Governance 140 page page Management Discussion and Analysis 168 Financial Highlights Sustainability and BRSR Highlights Business Responsibility and Sustainability 190 OUR FINANCIAL PROGRESS: SUSTAINABILITY: RESPONSIBLE Report (BRSR) FY2026 Scale-Up with a Standout Q4 EXECUTION FOR SUSTAINABLE GROWTH Big Picture Financials (Standalone and Consolidated) Financial Highlights 6 Independent Auditor’s Report (Standalone) 246 At a Glance 8 Standalone Balance Sheet 256 Chairman’s Message 14 Standalone Statement of Profit and Loss 257 16 26 70 Standalone Statement of Cash Flow 258 Managing Director & CEO’s Message 18 Standalone Statement of Changes in Equity 259 page page Notes to Standalone Financial Statements 260 Actions How We Create Value Governance and Risk Oversight Independent Auditor’s Report (Consolidated) 328 GOVERNANCE AND RISK OVERSIGHT: The Year In Review: Performance Scorecard 22 BUILT TO CONVERT OPPORTUNITY GROWTH SUPERVISED WITH DISCIPLINE Consolidated Balance Sheet 336 INTO EXECUTION-LED VALUE How We Create Value 26 Consolidated Statement of Profit and Loss 337 Strategy: RAASTA 2030 in motion 30 Consolidated Statement of Cash Flow 338 Consolidated Statement of Changes in Equity 339 Verticals Notes to Consolidated Financial Statements 340 Our Business Verticals 34 Power Transmission 36 56 102 New Energies 40 page page International Business 44 Monopoles and Product Business 48 PEOPLE, CULTURE, DIRECTORS’ Manufacturing and Products 52 AND SAFETY REPORT Capabilities People, Culture, and Safety 56 Environment, Health & Safety 60 ESG 60 168 Scan the QR code or Sustainability and BRSR Highlights 64 visit www.bajelprojects.com Governance and Risk Oversight 70 page page to download Annual Report 2026 ENVIRONMENT, HEALTH MANAGEMENT DISCUSSION & SAFETY & ANALYSIS 4 Bajel Projects Limited – Annual Report 2026 www.bajelprojects.com 5 Big Picture Actions Verticals Capabilities ESG Reports Financials Big Picture Financial Hi [Showing first 8,000 characters — download PDF for full document]