Ajax Engineering Limited has informed the Exchange about Investor Presentation
AJAXENGG · price
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Ajax Engineering reported FY26 revenue of ₹ 21,025 million, marking its 4th consecutive year of growth despite a challenging operating environment. The company outperformed the industry, with construction equipment volumes dropping 11% industry-wide versus only 4% for Ajax. Ajax regained market leadership with 73.5% market share in the Indian SLCM market. The CEV-IV to CEV-V emission norm transition increased production costs, compressing EBITDA margin by 270 bps to 12.6% and PAT margin by 180 bps to 10.7%. However, Q4 FY26 showed a strong rebound with EBITDA margin improving 40 bps to 15.1% sequentially, driven by ~2% price hike and cost optimization. The company maintains a strong balance sheet with ₹ 11,208 million cash and zero debt.
The near-term margin pressure from emission norm transition is a concern, but Q4 recovery and the company's market leadership position (73.5% share) provide confidence. The strong cash position and working capital efficiency (21 days) support resilience against industry headwinds from lower government capex spending.