Ajax Engineering FY26 PAT Falls 13%; Revenue Rises 1%

Ajax Engineering reported a 13% year-on-year decline in profit after tax (PAT) to Rs 225 crore for FY26, while revenue from operations rose marginally by 1% to Rs 2,103 crore, as higher production costs linked to the transition to new emission norms weighed on profitability.

The concreting equipment manufacturer posted EBITDA of Rs 266 crore for FY26, down 16% from the previous year, with EBITDA margin contracting 270 basis points to 12.6%.

For the fourth quarter ended March 2026, the company reported PAT of Rs 95 crore, up from Rs 91 crore in the year-ago period. Revenue for Q4FY26 stood at Rs 758 crore, compared to Rs 756 crore in Q4FY25.

Quarterly EBITDA rose around 4% year-on-year to Rs 115 crore, while EBITDA margin improved 40 basis points to 15.1%, supported by operational efficiencies, execution discipline, operating leverage and calibrated pricing actions.

The company said demand for its CEV-V compliant product portfolio remained strong during the quarter, aided by healthy secondary sales momentum.

Ajax Engineering said its non-self-loading concrete mixer (non-SLCM) business recorded 7% year-on-year growth during FY26, while spares and services revenue increased 9%, helping diversify its revenue mix.

The company added that it regained market share in the self-loading concrete mixer (SLCM) segment to 73.5% by the end of FY26 following the complete phase-out of older emission-standard machines and gradual improvement in demand momentum during the fourth quarter.

Managing Director & Chief Executive Officer Shubhabrata Saha said the company navigated a challenging operating environment marked by slower infrastructure capex utilisation and higher costs arising from the shift from CEV-IV to CEV-V emission norms.

He added that the company remained confident about long-term growth prospects, supported by continued infrastructure development and increasing adoption of mechanised concreting equipment in India.

Ajax Engineering said it will continue focusing on strengthening its leadership in the SLCM portfolio, expanding the non-SLCM business, and improving profitability through operational discipline and pricing measures.