AJAXENGG
Ajax Engineering Limited
Concrete construction equipment manufacturer of truck-mounted boom placers and Udaan range
Industrials›Capital Goods›Agricultural, Commercial & Construction Vehicles›Construction Vehicles
ajax-engg.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
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What you need to know
Ajax Engineering (Ajax) makes concrete equipment, mainly SLCM, plus concrete pumps, batching plants, transit mixers and pavers.
Company snapshot
3rdBy market cap
Ranked among 5 companies in Construction Vehicles.
What we see
- ✓Interest coverage of 925.5x — earnings comfortably cover interest obligations.
Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 548 Cr | 756 Cr | 467 Cr | 445 Cr | 434 Cr | 758 Cr | 475 Cr |
| Operating expenses (approx.) | 460 Cr | 645 Cr | 405 Cr | 400 Cr | 389 Cr | 643 Cr | 415 Cr |
| EBITDA | 88 Cr | 111 Cr | 61 Cr | 45 Cr | 45 Cr | 115 Cr | 59 Cr |
| OPM % | 16.1% | 14.7% | 13.2% | 10.2% | 10.3% | 15.1% | 12.5% |
| Other income | 7 Cr | 12 Cr | 13 Cr | 10 Cr | 13 Cr | 13 Cr | 18 Cr |
| Interest | 0.56 Cr | -2 Cr | 0.07 Cr | 0.07 Cr | 0.09 Cr | 0.05 Cr | 0.20 Cr |
| Depreciation | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 2 Cr | 3 Cr |
| Profit before tax | 92 Cr | 122 Cr | 71 Cr | 53 Cr | 52 Cr | 126 Cr | 74 Cr |
| Tax % | 25.6% | 25.6% | 25.5% | 25.8% | 26.0% | 24.6% | 25.2% |
| Net profit | 68 Cr | 91 Cr | 53 Cr | 39 Cr | 38 Cr | 95 Cr | 56 Cr |
| EPS (₹) | ₹5.95 | ₹7.95 | ₹4.62 | ₹3.41 | ₹3.34 | ₹8.30 | ₹4.86 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|
| Sales | 763 Cr | 1,151 Cr | 1,741 Cr | 2,074 Cr | 2,103 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 673 Cr | 980 Cr | 1,466 Cr | 1,756 Cr | 1,837 Cr | Sign in free for the trailing twelve months |
| EBITDA | 90 Cr | 171 Cr | 276 Cr | 318 Cr | 266 Cr | Sign in free for the trailing twelve months |
| OPM % | 11.9% | 14.8% | 15.8% | 15.3% | 12.6% | Sign in free for the trailing twelve months |
| Other income | 9 Cr | 21 Cr | 39 Cr | 43 Cr | 49 Cr | Sign in free for the trailing twelve months |
| Interest | 0.42 Cr | 0.68 Cr | 2 Cr | -0.87 Cr | 0.28 Cr | Sign in free for the trailing twelve months |
| Depreciation | 8 Cr | 9 Cr | 10 Cr | 11 Cr | 10 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 90 Cr | 183 Cr | 302 Cr | 351 Cr | 301 Cr | Sign in free for the trailing twelve months |
| Tax % | 26.8% | 25.7% | 25.4% | 25.9% | 25.3% | Sign in free for the trailing twelve months |
| Net profit | 66 Cr | 136 Cr | 225 Cr | 260 Cr | 225 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹5.79 | ₹11.88 | ₹19.68 | ₹22.73 | ₹19.68 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 9.6% | 0.0% | Sign in free for the trailing twelve months |
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity capital | 3 Cr | 11 Cr | 11 Cr | 11 Cr | 11 Cr |
| Reserves | 575 Cr | 702 Cr | 907 Cr | 1,146 Cr | 1,381 Cr |
| Borrowings | 7 Cr | 10 Cr | 6 Cr | — | — |
| Other liabilities | 150 Cr | 243 Cr | 312 Cr | 325 Cr | 359 Cr |
| Total liabilities | 735 Cr | 967 Cr | 1,236 Cr | 1,482 Cr | 1,752 Cr |
| Fixed assets (net) | 105 Cr | 114 Cr | 116 Cr | 126 Cr | 132 Cr |
| CWIP | 7 Cr | 6 Cr | 17 Cr | 21 Cr | 35 Cr |
| Investments | 296 Cr | 495 Cr | 625 Cr | 656 Cr | 952 Cr |
| Loans & advances | — | — | — | 0 Cr | 1 Cr |
| Inventories | 172 Cr | 173 Cr | 227 Cr | 258 Cr | 165 Cr |
| Trade receivables | 55 Cr | 75 Cr | 88 Cr | 165 Cr | 179 Cr |
| Cash & bank | 13 Cr | 7 Cr | 70 Cr | 46 Cr | 166 Cr |
| Other assets | 87 Cr | 97 Cr | 93 Cr | 211 Cr | 122 Cr |
| Total assets | 735 Cr | 967 Cr | 1,236 Cr | 1,482 Cr | 1,752 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operating activity | 85 Cr | 185 Cr | 207 Cr | 43 Cr | 377 Cr |
| Cash from investing | -129 Cr | -193 Cr | -116 Cr | -35 Cr | -257 Cr |
| Cash from financing | -0.40 Cr | -0.34 Cr | -25 Cr | -26 Cr | -0.36 Cr |
| Net cash flow | -44 Cr | -9 Cr | 66 Cr | -17 Cr | 120 Cr |
| Free cash flow (OCF − Capex) | 70 Cr | 168 Cr | 184 Cr | 19 Cr | 350 Cr |
Ratios
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROCE % | 15.5% | 25.4% | 32.9% | 30.2% | 21.7% |
| ROE % | 11.4% | 19.0% | 24.5% | 22.5% | 16.2% |
| Debtor days | 26 | 24 | 18 | 29 | 31 |
| Inventory days | 153 | 82 | 68 | 62 | 41 |
| Days payable | 52 | 75 | 62 | 54 | 61 |
| Cash conversion cycle | 127 | 30 | 24 | 37 | 11 |
| OCF / EBITDA % | 93.6% | 108.2% | 75.3% | 13.4% | 141.9% |
| OCF / EBITDA % (3 years) | — | — | 88.8% | 56.9% | 73.0% |
| Debt / equity | 0.01 | 0.01 | 0.0068 | — | — |
| Current ratio | 3.68 | 3.10 | 3.16 | 3.94 | 4.19 |
| Net debt / EBITDA | -0.06 | 0.02 | -0.23 | -0.14 | -0.62 |