Ajax Engineering Reports 48% Y-o-Y Revenue Growth in Q2 FY26, driven by strong SLCM performance
Ajax Engineering reported Q2 FY26 standalone revenue growth of 48% to ₹445 crore and PAT up 15% to ₹39 crore, despite margin pressure. Management expects H2 FY26 profitability aid.
The announcement of Q2 and H1 FY26 financial results, showing substantial revenue growth, directly affects the company's valuation and investor sentiment. The positive management outlook for future profitability also plays a crucial role.
The company reported significant year-on-year revenue growth of 48% in Q2 and 18% in H1, along with 15% PAT growth in Q2. The management expressed confidence in future profitability and long-term growth despite margin declines due to temporary factors.
* Ajax Engineering Limited announced its unaudited standalone financial results for the quarter and half year ended September 30, 2025. * Q2 FY26 Financial Highlights (Year-on-Year): * Revenue from Operations: ₹445 crore, up 48%. * Reported EBITDA: ₹45 crore, up 16%. * Profit After Taxes (PAT): ₹39 crore, up 15%. * EBITDA margins declined by 280 bps to 10.2%, impacted by transition costs to new CEV-5 emission norms and product mix changes. * PAT margins declined by 250 bps to 8.8%. * H1 FY26 Financial Highlights (Year-on-Year): * Revenue from Operations: ₹911 crore, up 18%. * Reported EBITDA: ₹107 crore, down 11%. * Profit After Taxes (PAT): ₹92 crore, down 9%. * EBITDA margins declined by 380 bps to 11.7%. * PAT margins declined by 300 bps to 10.1%. * Management Commentary (Shubhabrata Saha, MD & CEO): * Despite unseasonal rains, changes in emission norms, and slower project execution, Ajax delivered strong revenue growth. * Volume growth remains robust across Self-Loading Concrete Mixer (SLCM) and non-SLCM categories. * Operating leverage and efficiency measures are expected to aid profitability in the second half of FY26, despite increased production costs and changes in revenue mix impacting margins. * Management remains confident in the long-term growth trajectory and leadership position in the concrete equipment industry. * Key Business Highlights: * SLCM revenue: up 55% in Q2 and 21% in H1. * Non-SLCM revenue: grew 12% in Q2, stable in H1. * Spares & Services: up 26% in Q2 and 16% in H1. * Exports contributed 6% of total revenues. * Dealer network expanded to 115 customer touchpoints. * Adinarayanahosahalli plant is on track for commissioning in H2 FY26, with ramp-up expected in FY27.
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Ajax Engineering Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Ajax Engineering Limited. Read the original for the full detail.