Ajax Engineering Limited — PPTs, 13-11-2025: Investor Presentation

Ajax Engineering saw robust Q2FY26 revenue growth of 48% YoY to ₹444.8 Cr, with H1FY26 revenue up 18% YoY to ₹911.3 Cr. This was primarily driven by a strong 55% surge in the Self-Loading Concrete Machine (SLCM) segment in Q2. However, profitability was impacted; gross margins and EBITDA margins contracted due to increased production costs from new emission norms and changes in product mix.

The company aims to maintain its leadership in SLCMs, expand capabilities in non-SLCM products, boost international exports, and enhance operational efficiencies, with an eye on potential inorganic growth.

Ajax recently commercialized India’s first in-house 3D Concrete Printing Machine and introduced advanced Self-Loading Concrete Machines with Load Cell technology for quality assurance, alongside Self-Propelled Boom Pumps for improved mobility. A new manufacturing facility at Adinarayanahosahalli is set to become operational in H2FY26.

Q2FY26 Profit After Tax (PAT) rose 15% YoY to ₹39.1 Cr. However, H1FY26 PAT declined 9% YoY to ₹91.9 Cr, reflecting margin pressures. Q2FY26 EBITDA margin was 10.2% and H1FY26 EBITDA margin was 11.7%.

Management acknowledged challenges from extended monsoon, new emission norms, and customer cash flow issues. They expect margins to improve in H2FY26 due to seasonal volume pickup, cost optimization, and price adjustments, though a full-year FY26 margin decline of 150-200 bps compared to FY25 is anticipated. They remain confident in the long-term growth trajectory.