| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 757.66 | 74.8% | 0.3% |
| Total Income | 770.89 | 72.5% | 0.4% |
| Expenditure | 644.93 | 64.5% | 0.1% |
| PBT | 125.95 | 143.6% | 3.1% |
| Net Profit | 94.96 | 148.3% | 4.4% |
| OPM | 15.13% | 5.58pp | 0.46pp |
| NPM | 12.32% | 3.76pp | 0.47pp |
| EPS | 8.30 | 148.5% | 4.4% |
Ajax Engineering FY26 Revenue Stable at ₹2,103 Cr; Q4 Margins Improve
18 May 2026 · 18 May, 10:21 pm
Summary
Ajax Engineering Limited announced its Q4 and FY26 financial results, reporting FY26 revenue of ₹2,103 crore amidst a challenging operating environment. Q4 FY26 revenue remained stable at ₹758 crore compared to the prior year, supported by calibrated pricing actions and healthy secondary sales. The company achieved an approximately 4% year-on-year increase in Q4 EBITDA to ₹115 crore, with EBITDA margin improving by 40 basis points to 15.1% due to operational efficiencies and cost optimization. Profit after tax for Q4 FY26 grew to ₹95 crore. Managing Director & CEO, Mr. Shubhabrata Saha, acknowledged the challenging phase but expressed confidence in long-term growth prospects, citing government focus on infrastructure and the transition to mechanised construction.
Key Highlights
- 1
Ajax Engineering Limited reported a stable FY26 revenue of ₹2,103 crore, demonstrating resilience despite a challenging operating environment during the year.
- 2
In Q4 FY26, revenue stood at ₹758 crore, showing stable performance compared to ₹756 crore in Q4 FY25, aided by calibrated pricing actions and healthy secondary sales momentum.
- 3
Profit after tax for Q4 FY26 increased to ₹95 crore, up from ₹91 crore in the corresponding prior-year quarter.
- 4
Q4 EBITDA grew by approximately 4% year-on-year to ₹115 crore, with EBITDA margin improving by 40 basis points to 15.1% due to operational efficiencies, execution discipline, and cost optimisation initiatives.
- 5
The company successfully reclaimed its market share in the SLCM segment to 73.5% by the end of FY26, reflecting continued customer preference for its products.
- 6
During FY26, non-SLCM revenue grew by 7% year-on-year, while Spares and Services revenue increased by 9%, showcasing continued progress in building a more balanced and resilient revenue mix.
Management Comments
Shubhabrata Saha
It has been a challenging and transitionary phase over the last few quarters, with only 55% of the Central capex on infrastructure being utilised till Dec 2025 and the CEV-IV to CEV-V emission norms leading to an increase in the cost of production. Despite an industry slowdown, we were able to effectively navigate these challenges and maintain market share. With the complete phase-out of older emission-standard machines during the year, we steadily regained momentum across markets, and our CEV-V portfolio is seeing strong acceptance from customers. Importantly, this recovery was achieved while maintaining our premium positioning in the market, reflecting the strength of our brand, product quality and customer trust. We remain fully confident in the long-term growth prospects of our business. The government’s continued focus on infrastructure development and the ongoing transition towards mechanised construction and concreting equipment are expected to support steady demand and position Ajax well for sustained growth.
Informational and educational content only. Not investment advice.