Ajax Engineering Limited has informed the Exchange regarding Appointment of Mr Sachin Rajkumar Nandgaonkar as Non- Executive Director of the company w.e.f. May 18, 2026.
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Ajax Engineering Limited held its Board meeting on May 18, 2026, approving audited financial results for Q4 and FY2026 (year ended March 31, 2026). The company reported revenue from operations of Rs 21,025.37 million (up 2.1% YoY) and profit after tax of Rs 2,251.45 million (down 13.4% YoY). Statutory auditors S.R. Batliboi & Associates LLP issued an unmodified opinion. The Board also appointed Mr. Sachin Rajkumar Nandgaonkar as an Additional Non-executive Nominee Director (representing The Johns Loaves Trust and Jacob Hansen Family Trust), subject to shareholder approval. Simultaneously, Mr. Jacob Jiten John resigned as Whole-time Director effective May 18, 2026, citing personal reasons with no other material reasons disclosed.
The appointment of a nominee director from promoter trusts and resignation of a whole-time director indicates potential board composition changes. The YoY decline in profitability despite marginal revenue growth may concern investors, though strong cash generation (Rs 3,772.87 million from operations) provides some comfort.