Ajax Engineering Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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Ajax Engineering's board approved Q3 FY26 results on February 12, 2026, with the auditors (S.R. Batliboi & Associates LLP) giving an unmodified limited review opinion. Revenue from operations for Q3 FY26 stood at Rs. 4,448.1 million, up about 2.4% from Rs. 4,344.9 million in Q3 FY25. However, for the nine months ended December 31, 2025, revenue declined roughly 4.5% year-on-year to Rs. 13,181.6 million from Rs. 13,808.3 million. Profit after tax for 9M FY26 fell sharply to Rs. 1,301.9 million, down about 23% from Rs. 1,691.5 million in 9M FY25, with Q3 PAT at Rs. 342.4 million vs Rs. 401.3 million last year. The company booked an exceptional item of Rs. 31.04 million related to the impact of India's new Labour Codes on gratuity liability. EBITDA margins appear to have compressed meaningfully over the nine-month period compared to the prior year. The company recently completed its IPO in February 2025 and operates as a single segment (concrete equipment manufacturer).
Mixed picture for shareholders: Q3 revenue grew modestly year-on-year, but the nine-month view shows revenue and profit declines plus margin compression, partly explained by a one-time Labour Codes charge. The clean auditor opinion is positive, but the year-to-date profit erosion is a concern that may weigh on near-term sentiment.