| Annual Financials | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
Revenue  | 743 | 751 | 772 | 1,173 | 1,780 | 2,117 | 2,114 |
| Expenses | 602 | 613 | 673 | 980 | 1,466 | 1,756 | 1,772 |
| EBITDA | 141 | 138 | 99 | 192 | 314 | 361 | 342 |
| Operating Profit % | 18 % | 17 % | 12 % | 15 % | 16 % | 15 % | 14 % |
| Depreciation | 8 | 8 | 8 | 9 | 10 | 11 | 11 |
| Interest | 1 | 1 | 0 | 1 | 2 | -1 | -1 |
| Profit Before Tax | 133 | 129 | 90 | 183 | 302 | 351 | 332 |
| Tax | 33 | 32 | 24 | 47 | 77 | 91 | 85 |
| Net Profit | 100 | 97 | 66 | 136 | 225 | 260 | 246 |
| EPS in ₹ | 3,490.21 | 3,405.08 | 5.79 | 11.88 | 19.68 | 22.73 | 21.50 |
Ajax Engineering
Ajax Engineering
594.20
+13.10
(2.25%)
Key Fundamentals
Market Cap
6,648.20 Cr
EPS
22.73
PE Ratio
27.03
Dividend Yield
0.00 %
Industry
-52 Week High
756.20
52 Week Low
549.10
PB Ratio
5.75
Debt to Equity
0.00
Sector
-Analyst Rating and Forecast
- By Refinitiv from5 analysts
Actual
Company News
View All News
Tuhin Basu has resigned from his position as Chief Financial Officer of Ajax Engineering Limited, effective September 30, 2025. Basu cited his decision to embark on an entrepreneurship journey as the reason for his resignation and confirmed there are no other material reasons for his departure. He will continue working with the company in an advisory role starting October 1, 2025. Ajax Engineering has notified stock exchanges BSE and NSE of this change in key managerial personnel.
Ajax Engineering Limited reported flat revenue of Rs. 467 crores for Q1 FY26, while EBITDA declined 23% to Rs. 61 crores with margins compressing to 13.2% from 17.1% in the previous year. PAT fell to Rs. 53 crores from Rs. 67 crores. The company successfully transitioned to CEV-5 emission-compliant machines, which comprised 90% of SLCM sales, though this increased material costs by 400 basis points. Market share recovery was evident in July, reaching above 75%. The company faces headwinds from infrastructure project execution slowdown, with PMGSY road construction declining 37% and highway construction pace reducing 9%. Management expects early double-digit volume growth for FY26 and plans to increase pricing towards the end of Q2 FY26. Ajax maintains Rs. 680 crores in cash and investments while expanding its dealer network and developing new facilities.
Ajax Engineering Q1FY26 Results: Revenue Flat at ₹4,665 Mn, Profit Falls 21% Amid Operational Challenges
Aug 02, 2025
Aug 02, 2025Ajax Engineering reported mixed quarterly results with revenue from operations remaining flat at ₹4,665 million compared to ₹4,690 million in Q1FY25. Profit after tax declined 21% to ₹529 million from ₹670 million, while EBITDA dropped 23% to ₹614 million. The company faced challenges from unseasonal rains, emission norm changes, and slower project execution. EBITDA margin compressed 390 basis points to 13.2%, and PAT margin fell 290 basis points to 11.3%. However, non-SLCM volumes grew 25% year-on-year, while SLCM business remained stable. The company maintains market leadership with approximately 69% share in India's SLCM market and operates through 114 customer touchpoints with 52 dealers across 22 states. Ajax Engineering expects margin pressure in the near term but anticipates recovery through operational efficiencies and pricing adjustments.
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Growth Rate
Revenue Growth
18.91 %
Net Income Growth
15.55 %
Cash Flow Change
-79.41 %
ROE
-8.36 %
ROCE
-8.41 %
EBITDA Margin (Avg.)
-3.40 %
Yearly Financial Results
Balance Sheet
| Balance Sheet | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 554 | 731 | 735 | 967 | 1,236 | 1,482 |
| Fixed Assets | 113 | 112 | 157 | 167 | 167 | 176 |
| Current Assets | 403 | 564 | 556 | 755 | 969 | 1,237 |
| Capital Work in Progress | 3 | 1 | 7 | 6 | 17 | 21 |
| Investments | 201 | 81 | 296 | 495 | 625 | 657 |
| Other Assets | 237 | 537 | 275 | 299 | 427 | 630 |
| Total Liabilities | 554 | 731 | 735 | 967 | 1,236 | 1,482 |
| Current Liabilities | 137 | 215 | 151 | 244 | 307 | 314 |
| Non Current Liabilities | 2 | 4 | 6 | 9 | 11 | 12 |
| Total Equity | 414 | 512 | 578 | 714 | 918 | 1,157 |
| Reserve & Surplus | 412 | 509 | 575 | 702 | 907 | 1,146 |
| Share Capital | 3 | 3 | 3 | 11 | 11 | 11 |
Cash Flow
| Cash Flow | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 8 | 65 | -44 | -9 | 66 | -18 |
| Investing Activities | -109 | -7 | -129 | -193 | -116 | -35 |
| Operating Activities | 131 | 72 | 85 | 185 | 208 | 43 |
| Financing Activities | -14 | 0 | -0 | -0 | -26 | -26 |
Share Holding
| % Holding | Sept 2024 | Dec 2024 | Feb 2025 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 93.50 % | 80.00 % | 80.00 % | 80.00 % | 80.00 % | 80.00 % |
| FIIs | 0.00 % | 5.02 % | 0.00 % | 5.95 % | 6.46 % | 6.51 % |
| DIIs | 0.00 % | 6.13 % | 5.48 % | 7.92 % | 8.95 % | 9.42 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 0.00 % | 8.81 % | 8.81 % | 4.90 % | 4.10 % | 3.50 % |
| Others | 6.50 % | 0.04 % | 5.72 % | 1.24 % | 0.49 % | 0.57 % |
| No of Share Holders | 9 | 2,72,678 | 9 | 1,52,056 | 94,515 | 77,176 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.17 | 0.00 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.37 | 0.00 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 09 Mar 2025 |  Quarterly Result Announcement | NA | 09 Mar 2025 | 604.00 | 602.35 |
| 27 May 2025 | Quarterly Result Announcement | NA | 27 May 2025 | 667.60 | 680.75 |
| 02 Aug 2025 | Quarterly Result Announcement | NA | 02 Aug 2025 | 673.05 | 667.50 |
| 05 Sept 2025 |  Annual General Meeting | NA | 05 Sept 2025 | 667.50 | 686.55 |
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 07, 2025
Oct 07, 2025Closure of Trading WindowSep 26, 2025
Sep 26, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 24, 2025
Sep 24, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 08, 2025
Sep 08, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 05, 2025
Sep 05, 2025Newspaper Clippings - Thirty-Third Annual General Meeting And Information On E-Voting" And Other Related InformationAug 13, 2025
Aug 13, 2025Letter To Shareholders Containing Weblink Of 33Rd Annual General Meeting And Annual Report For The Financial Year 2024-25Aug 12, 2025
Aug 12, 2025Reg. 34 (1) Annual Report.Aug 12, 2025
Aug 12, 2025Notice Of The Thirty-Third Annual General Meeting For The Financial Year 2024-25Aug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 12, 2025
Aug 12, 2025Newspaper Clippings - "Annual General Meeting" Of The Members Of The Company And Other Related InformationAug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 02, 2025
Aug 02, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 02, 2025
Aug 02, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 02, 2025
Aug 02, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 02, 2025
Aug 02, 2025Financial Results For June 30 2025Aug 02, 2025
Aug 02, 2025Board Meeting Outcome for Outcome Of The Board Meeting Of Ajax Engineering Limited Held On 2Nd August 2025Aug 02, 2025
Aug 02, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 30, 2025
Jul 30, 2025Board Meeting Intimation for Board Meeting Intimation For Considering And Approving The Standalone Unaudited Financial Results Of The Company For The Quarter Ended June 30 2025.Jul 30, 2025
Jul 30, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 17, 2025
Jul 17, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportJul 11, 2025
Jul 11, 2025Shareholder Meeting / Postal Ballot-Outcome of Postal_BallotJul 11, 2025
Jul 11, 2025Closure of Trading WindowJun 26, 2025
Jun 26, 2025Announcement under Regulation 30 (LODR)-CessationJun 18, 2025
Jun 18, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 17, 2025
Jun 17, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 17, 2025
Jun 17, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 17, 2025
Jun 17, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJun 11, 2025
Jun 11, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotJun 10, 2025
Jun 10, 2025Announcement Under Regulation 30 Of The SEBI (LODR) Regulations 2015Jun 05, 2025
Jun 05, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptJun 03, 2025
Jun 03, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMay 29, 2025
May 29, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeMay 28, 2025
May 28, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 27, 2025
May 27, 2025Announcement under Regulation 30 (LODR)-Change in ManagementMay 27, 2025
May 27, 2025Appointment Of Secretarial AuditorMay 27, 2025
May 27, 2025Announcement under Regulation 30 (LODR)-Investor PresentationMay 27, 2025
May 27, 2025Audited Financial Results Of The Company For The Quarter And
Period Ended 31St March 2025May 27, 2025
May 27, 2025Integrated Filing (Financial)May 27, 2025
May 27, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseMay 27, 2025
May 27, 2025Board Meeting Outcome for Outcome Of The Board MeetingMay 27, 2025
May 27, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 22, 2025
May 22, 2025Board Meeting Intimation for Approving And Taking On Record The Standalone Audited Financial Results Of The Company As Per INDAS For The Quarter And Financial Year Ended March 31 2025.May 22, 2025
May 22, 2025RTA - Change In E-Mail IDApr 29, 2025
Apr 29, 2025Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure AApr 29, 2025
Apr 29, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Apr 15, 2025
Apr 15, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationApr 07, 2025
Apr 07, 2025Mutual Fund Holdings
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RSI(14)
Neutral 28.05
ATR(14)
Volatile 16.86
STOCH(9,6)
Oversold 14.83
STOCH RSI(14)
Neutral 31.33
MACD(12,26)
Bearish -1.29
ADX(14)
Weak Trend 12.12
UO(9)
Bearish 33.56
ROC(12)
Downtrend And Accelerating -6.15
WillR(14)
Oversold -98.53
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