Bajel Projects Ltd

This year marks a significant milestone for Bajel Projects Limited with the completion of the demerger process from Bajaj Electricals Limited, announced last year. Our listing on the stock exchange reflects our resolve to transform the business into a distinct, sector-focused entity.

We are excited to embark on this new journey as a standalone company with a streamlined structure.

We are a leading startup company in the power infrastructure business, combining 20 years of industry experience with a strong focus on maintaining cost control. Bajel Projects Limited (formerly Bajaj Electricals Limited's EPC Division) specializes in the Power Transmission and Distribution sectors, along with a solid track record of project management and operational excellence. We work with governments and private entities, both domestically and internationally.

Despite ongoing global geopolitical tensions, the Indian economy has remained one of the fastest-growing in world. As India's infrastructure needs evolve alongside global trends, we are well-positioned to capitalise on the growing opportunities. Growing power demand, Government's electrification & grid modernization projects, and a global focus on efficient & sustainable solutions align perfectly with our expertise in Power Transmission, Distribution, Monopoles, and International EPC. We are leveraging our experience to play a vital role in building a robust and reliable power infrastructure for India and the world.

At Bajel Projects, we recognise that our people are the true power driving our success. Their dedication and expertise have contributed significantly to our growth trajectory over the years. We are constantly working to create a work environment that is nurturing and allows for the talent to thrive. Mr. Rajesh Ganesh was appointed as the Managing Director of Bajel Projects Limited on 18th September 2023. I'm confident that he, along with the management team, will leverage our strengths and deliver a strong and sustainable performance going forward.

We delivered a noteworthy financial performance this year with our revenue growing to H 1,194.51 Crores as against H 717.95 Crores in the previous year, a a growth of 66.38%. We posted a positive

Profit After Tax for the current year at H 4.29 Crores, as against a loss of H 1.58 Crores in the previous year. We have a strong Order Book of H 3,597.88 Crores as of March 31, 2024, and are poised to deliver even better performance in the coming years.

Our people's safety is paramount to us, and we are relentless in our pursuit of "Zero Harm".

To achieve this, we have implemented a robust safety framework and are continually working to further improve the targeted safety measures. We have always believed that quality is paramount. I am pleased to share that this year, that commitment reached a new level with our achievement of ISO 3834- 1:2021 certification. This rigorous international standard validates the stringent quality assurance policies we have put in place.

As we move ahead, we aim to be a leading global turnkey solutions provider in the energy sector. We continue to expand our operational capabilities and seek growth opportunities to maximise stakeholder value.

With a simplified corporate structure and a clear focus, we are well-positioned to navigate the dynamic landscape of the global power sector.