Ajax Engineering Reports Q4 and FY26 Financial Results: Revenue Reaches ₹ 2,103 crore
Ajax Engineering Limited, India's leading concreting equipment manufacturer, announced its audited financial results for the quarter and full year ended March 31, 2026. The company reported that its FY26 revenue grew to ₹ 2,103 crore, demonstrating stability despite a challenging operating environment throughout the year.During Q4 FY26, revenue stood at ₹ 758 crore, compared to ₹ 756 crore in Q4 FY25. This performance was attributed to calibrated pricing actions undertaken during the quarter and healthy secondary sales momentum. The quarter saw strong demand for the company's CEV-V product portfolio.
The operational metrics for the quarter reflected improvements, with the gross margin increasing by 170 basis points year-on-year to 25.8%, supported by a favourable product mix and operational efficiencies. EBITDA for Q4 FY26 reached ₹ 115 crore, marking a growth of approximately 4% year-on-year. Furthermore, the EBITDA margin improved by 40 basis points, settling at 15.1%. Profit after tax for Q4 FY26 was reported at ₹ 95 crore, up from ₹ 91 crore in Q4 FY25.
For the full fiscal year, non-SLCM revenue grew by 7% year-on-year, while Spares and Services revenue increased by 9%, indicating a balanced and resilient revenue mix. The company reclaimed its market share in the SLCM segment, reaching 73.5% by the end of FY26. This recovery followed the complete phase-out of older emission-standard machines during the year and gradual demand improvement in Q4 FY26. For FY26, EBITDA stood at ₹ 266 crore (with an EBITDA margin of 12.6%), while profit after tax was ₹ 225 crore, compared to ₹ 260 crore in the previous year.
The financial performance across both periods is detailed below:
| Particulars | FY26 | FY25 | YoY Change (%) | Q4 FY26 | Q4 FY25 | YoY Change (%) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 2,103 | 2,074 | 1% | 758 | 756 | 0% |
| Reported EBITDA | 266 | 318 | -16% | 115 | 111 | 4% |
| EBITDA Margin (%) | 12.6% | 15.3% | -270 bps | 15.1% | 14.7% | +40 bps |
Mr. Shubhabrata Saha, Managing Director & Chief Executive Officer of Ajax Engineering, commented on the performance, noting that the past few quarters presented a challenging and transitionary phase. He mentioned that the shift to CEV-IV to CEV-V emission norms led to an increase in the cost of production, despite the industry slowdown.
However, he highlighted that the company managed to maintain market share. He added that the recovery was achieved while upholding its premium market position, reflecting the brand's strength and customer trust. Saha expressed full confidence in the long-term growth prospects, citing the government's continued focus on infrastructure development and the ongoing transition toward mechanised construction and concreting equipment as key support factors for sustained demand.
Looking ahead, the company plans to focus on strengthening its leadership in the SLCM portfolio through emission compliant products, scaling up the non-SLCM business through enhanced product capabilities, and maintaining operational discipline and calibrated pricing to support profitability improvement.
About Ajax Engineering Limited:
AJAX is a renowned concreting equipment player, excelling in engineering expertise and exceptional after-sales support. Established in 1992, it has become a global leader in SelfLoading Concrete Mixers. Headquartered in Bangalore, AJAX operates state-of-the-art manufacturing facilities in Doddaballapur and Gowribidanur. With a widespread presence across over 100 touch points worldwide, AJAX ensures comprehensive sales and after-sales support. Its distribution network spans Bangladesh, Nepal, Bhutan, Sri Lanka, Maldives, Myanmar, Mozambique, Philippines, Kenya, Tunisia, UAE, Vietnam, Cambodia, Oman, Uganda, Russia, and Egypt. AJAX's product range includes Self-loading concrete mixers, Concrete batching plants, Transit mixers, Stationary pumps, Boom pumps, Self-propelled boom pumps, and Slip-form pavers.
AJAXENGG Stock Price Movement
On Monday, Ajax Engineering Limited shares slipped by 0.37% to settle at ₹524.75. Trading saw the stock find support within a range of ₹520.1 to ₹540, moving on a volume of 52,007 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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