Ajax Engineering has scheduled its 34th Annual General Meeting for Monday, September 28, 2026. The meeting will be conducted through Video Conferencing or Other Audio Visual Means.

Shareholders can participate in remote e-voting starting Friday, September 25, 2026, at 9:00 am. The voting window closes on Sunday, September 27, 2026, at 5:00 pm.

Meeting Details

The company issued the notice pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The AGM will commence at 9:30 am IST. Members holding shares as of the cut-off date will be eligible to vote electronically.

Shruti Vishwanath Shetty, Company Secretary and Compliance Officer, signed the disclosure dated September 3, 2026. The notice was published in Financial Express and Vishwavani newspapers.

Ajax Engineering has made the full transcript of its first-quarter fiscal 2027 (Q1FY27) earnings conference call publicly available. The call, which took place on Thursday, August 6, 2026, at 11:00 am IST, featured discussions with senior management regarding the company’s operational and financial performance for the quarter ended June 30, 2026. This disclosure fulfills the company’s regulatory obligation under Regulation 30 and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The filing was submitted to the Bombay Stock Exchange and the National Stock Exchange of India Limited on August 13, 2026. Shruti Vishwanath Shetty, Company Secretary and Compliance Officer, signed the intimation. The recording and transcript can be accessed via the corporate announcement section of the company’s official website.

Conference Call Details

The session was organized by Strategic Growth Advisors Private Limited and led by key executives who addressed investor queries related to the quarter’s results:

• Shubhabrata Saha: Managing Director & Chief Executive Officer
• Ketan Pendse: Chief Financial Officer

Investors who participated in the live event used the following access numbers:

Financial Performance Highlights

According to the transcript, total revenue for Q1FY27 stood at ₹475 crore, registering a growth of 1.7% over Q1FY26. Slip-form concrete machine (SLCM) revenue reached ₹388 crore, supported by a favorable product mix and price increases implemented in Q4FY26. Non-SLCM revenue grew by 6.4% year-on-year to approximately ₹48 crore, driven by healthy growth in the pumps segment.

Spares and services revenue increased by 6.2% year-on-year to ₹39 crore. However, lower volumes during the quarter compared to the same period last year led to adverse operating leverage. Consequently, EBITDA for Q1FY27 stood at ₹59 crore, down from ₹61 crore in Q1FY26. The EBITDA margin contracted by 70 basis points to 12.5%. Profit after tax for the quarter was ₹55.6 crore, representing a 5% year-on-year increase.

Market Share and Operational Updates

Despite a 27% decline in industry registrations, Ajax Engineering reported a decline of only 21%, resulting in an expanded SLCM and retail market share of 75.1% in Q1FY27, up from about 69% in Q1FY26 and 73.5% in FY26. Management attributed this gain to better lead management, stability of CEV 5 models, and strong service factors.

State-wise performance showed significant divergence. While volumes declined in Maharashtra and Madhya Pradesh, market share improved in both states. Gujarat saw a 40% increase in volumes, with market share rising from 71% to 82%. Rajasthan’s market share improved from 66% to 86% despite a 21% volume drop. Odisha saw market share rise from 61% to 88% alongside 13% volume growth.

Management noted that urban infrastructure and building-related work, currently constituting 35-40% of applications, is offsetting muted demand in traditional government-led sectors like roads, which account for 40-43% of applications. Exports contributed 9% of revenue in Q1FY27, with the company exporting its first slip-form paver during the quarter.

Strategic Outlook and Cost Management

The company highlighted rising input costs due to increases in fuel and steel prices. In response, Ajax Engineering initiated internal cost optimization measures originally planned for later in the year. Following a 2% price increase in Q4FY26, the company is evaluating another calibrated price hike, with timing and quantum dependent on the prevailing market environment.

New product launches include the ARGO 4000, scheduled for Q2FY27, which aims to fill a gap in the portfolio. The UDAAN series saw reasonable traction, with 121 units sold in Q1FY27. Management expects non-SLCM business to grow by 10-15% over the previous year, benefiting from B2B channel initiatives and dealer participation.

With a cash balance exceeding ₹1,100 crore as of June 2026, Ajax Engineering remains focused on disciplined working capital management and potential inorganic opportunities. The company anticipates a seasonally soft Q2 but expects improved sentiment and demand momentum in the second half of the fiscal year, when nearly 60% of revenue is typically generated.