Ajax Engg FY26 Revenue at ₹2,103 Cr, Q4 Margins Improve to 15.1%
Ajax Engineering reported FY26 revenue of ₹2,103 crore and Q4 FY26 revenue of ₹758 crore. Q4 FY26 EBITDA increased 4% YoY to ₹115 crore with margins at 15.1%. FY26 EBITDA was ₹266 crore. Profit after tax for Q4 FY26 was ₹95 crore, while FY26 PAT was ₹225 crore.
The results show stable revenue and improved quarterly margins, which is positive. However, the year-on-year decline in full-year profit after tax and EBITDA suggests some ongoing pressures, leading to a medium impact rather than high.
The company reported stable revenue growth for FY26 and improved EBITDA margins in Q4 FY26, indicating operational efficiencies and effective pricing strategies despite a challenging environment. The management's commentary reflects confidence in future growth.
Ajax Engineering Limited announced its audited financial results for the quarter and year ended March 31, 2026. For the full fiscal year 2026, the company reported revenue of ₹2,103 crore, a slight increase from ₹2,074 crore in FY25, despite a challenging operating environment and the transition to new emission norms.
In the fourth quarter of FY26, revenue stood at ₹758 crore, a marginal increase from ₹756 crore in Q4 FY25. This was supported by calibrated pricing actions and healthy secondary sales momentum. Gross margin for Q4 FY26 improved by 170 basis points year-on-year to 25.8%, driven by a favorable product mix and operational efficiencies. EBITDA for Q4 FY26 rose by approximately 4% year-on-year to ₹115 crore, with the EBITDA margin improving by 40 basis points to 15.1% due to execution discipline, operating leverage, and cost optimization.
Profit after tax for Q4 FY26 was ₹95 crore, up from ₹91 crore in the prior year's quarter. For the full FY26, EBITDA stood at ₹266 crore with an EBITDA margin of 12.6%, impacted by higher production costs and product mix changes. Profit after tax for FY26 was ₹225 crore, a decrease from ₹260 crore in FY25.
Mr. Shubhabrata Saha, Managing Director & Chief Executive Officer, commented that the company effectively navigated industry slowdowns and challenges related to emission norms. He expressed confidence in long-term growth prospects, driven by infrastructure development and the increasing adoption of mechanized construction equipment. The company also noted a market share recovery in the SLCM segment to 73.5% by the end of FY26.
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