Ajax FY26 Net Profit Rs 225 Cr; Q4 Margins Improve
Ajax Engineering Limited reported a net profit of Rs 225 crore for FY26, a decline from Rs 260 crore in FY25, with revenue rising slightly to Rs 2,103 crore. Q4 net profit was Rs 95 crore, and the company saw improved gross and EBITDA margins. The board approved audited results on May 18, 2026, and noted changes in directorship.
*this image is generated using AI for illustrative purposes only.
Ajax Engineering Limited reported a net profit of Rs 225 crore for the fiscal year ended March 31, 2026, compared to Rs 260 crore in the previous year. Revenue from operations for the year stood at Rs 2,103 crore, a slight increase from Rs 2,074 crore in FY25. For the quarter ended March 31, 2026, the company recorded a net profit of Rs 95 crore on revenue of Rs 758 crore. The board approved the audited financial results during a meeting held on May 18, 2026. The company published the audited financial results in the Financial Express (English) and Vishwavani (Kannada) newspapers on May 20, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Financial Performance
The company's profitability for the full year was impacted by higher production costs linked to the transition to new emission norms and product mix changes. Despite these challenges, the company implemented calibrated pricing actions. Gross margin for Q4 FY26 improved by 170 basis points year-on-year to 25.8%, while EBITDA margin stood at 15.1% compared to 14.7% in the same quarter of the previous year. The following table summarises key financial metrics across the reported periods:
| Particulars (Rs. Cr) | Q4 FY26 | FY26 | Q4 FY25 | FY25 |
|---|---|---|---|---|
| Revenue from Operations | 758 | 2,103 | 756 | 2,074 |
| Reported EBITDA | 115 | 266 | 111 | 318 |
| EBITDA Margin (%) | 15.1% | 12.6% | 14.7% | 15.3% |
| Net Profit | 95 | 225 | 91 | 260 |
Operational Highlights
During FY26, non-SLCM revenue grew by 7% year-on-year, while Spares and Services revenue increased by 9%. The company reclaimed its market share in the SLCM segment to 73.5% by the end of FY26, reflecting continued customer preference for its products. This recovery followed the complete phase-out of older emission-standard machines during the year and gradual improvement in demand momentum during Q4 FY26.
Management Commentary and Outlook
Management noted that while the infrastructure sector faced near-term challenges including lower government capex spending, the company successfully navigated the transitional phase. The focus remains on strengthening leadership in the SLCM portfolio through emission-compliant products and scaling up the non-SLCM business. The medium to long-term growth drivers remain intact, supported by increasing adoption of mechanised concreting and infrastructure-led demand.
Board Decisions
During the meeting held on May 18, 2026, the Board appointed Mr. Sachin Rajkumar Nandgaonkar as an Additional Director (Non-executive and Nominee Director) subject to shareholder approval. Additionally, the Board took note of the resignation of Mr. Jacob Jiten John as Whole-time Director of the Company, effective from the close of business hours on May 18, 2026, due to personal reasons.
Historical Stock Returns for Ajax Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.31% | -8.60% | +5.95% | -8.65% | -9.98% | -7.63% |
How quickly can Ajax Engineering restore its full-year EBITDA margins back to FY25 levels of 15.3% now that the emission norm transition is complete?
What is the potential impact of Mr. Jacob Jiten John's resignation as Whole-time Director on Ajax Engineering's operational leadership and strategic execution going forward?
As government infrastructure capex spending recovers, how much volume growth could Ajax Engineering realistically achieve in its SLCM segment given its reclaimed 73.5% market share?
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