Ajax Engineering Limited has informed the Exchange regarding a press release dated February 12, 2026, titled "Please find attached press release on the unaudited financial results for the quarter and nine months ended December 31, 2025.".
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Ajax Engineering reported a weak Q3 FY26 with revenue falling 20.9% year-on-year to ₹434 crore, down from ₹548 crore a year ago, hit by extended monsoon, transition to new emission norms, and slower project execution. Adjusted EBITDA for the quarter nearly halved to ₹48 crore, with margins shrinking 510 basis points to 11.0%. Profit after tax dropped to ₹38 crore from ₹68 crore in Q3 FY25. For the nine-month period, revenue grew a modest 2% to ₹1,345 crore, supported by 4.5% growth in non-SLCM and 14% growth in Spares and Services, while overall adjusted EBITDA fell 25.5% to ₹154 crore. Management said margin pressure is temporary and expects operating leverage and calibrated pricing to support profitability recovery in FY27.
The sharp Q3 earnings decline and margin compression are negative for the stock in the near term, though the company's continued diversification into non-SLCM and services provides some cushion. Investors should watch for margin recovery in FY27 as guided and traction of new CEV-5 emission-compliant products.