ALFA Finder| Revenue growth | Q2 revenue +9.5% YoY, H1 +5.5%; price and volume driven. |
|---|---|
| Margins | Q2 gross margin +20bps YoY; H1 EBITDA margin 11.5% vs 11.7%. |
| Demand visibility | H2 recovery expected but unquantified; Maharashtra, MP weak on contractor payments. |
| Management confidence | Balanced to hedged; repeated 'hope' language, no firm H2 numbers. |
Growth
Q2 EBITDA +13.7% beat revenue +9.5%; non-SLCM +64.7% offset spares -4.7%. H1 volume only +2.5% in SLCM.
Outlook
No quantified revenue/profit guidance; H2 demand improvement hoped for, unquantified; year-end double-digit margin ambiguous.
Risks
Steel rose from ~58 to ~70/kg, seen going to 75-76; contractor payment delays hit Maharashtra and MP.
Last quarter's promises, checked
Delivered
- Guided non-SLCM 10-15% FY growth → Q2 non-SLCM +64.7% (= BEAT)
- Guided ARGO 4000 launch in Q2 FY27 → launched (= BEAT)
- Guided calibrated price hike within Q2 → ~1% Sep, ~1% Nov (= BEAT)
Partly delivered
- Guided FY margin ~12% 'challenging' → H1 11.5%, EBITDA +3.7% vs revenue +5.5% (= PARTIAL)
Missed
- Guided 12.5% EBITDA margin corridor → H1 EBITDA margin 11.5% vs 11.7% LY (= MISS)
Earnings Call Transcript filed with NSE, NSE: AJAXENGG. Summary written with AI assistance from the document.
Ajax Engineering Ltd: key numbers
- Share price
- ₹556.65
- Market cap
- ₹6,369 Cr
- Revenue (annual)
- ₹2,103 Cr
- Net profit (annual)
- ₹225.1 Cr
- P/E (TTM)
- 26.6×Sector 32.4×
- Promoter holding
- 80.00%+0.00% QoQ
- FII holding
- 4.07%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Ajax Engineering Ltd
All →Ajax Engineering Q2 FY27 Results: Net Profit ₹50.9 Cr, Up 30.2% YoY
Ajax Engineering Ltd reported revenue from operations of ₹487 Cr (+9.5% YoY) and net profit of ₹50.9 Cr (+30.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹50.9 Cr · +30.2% YoY
Ajax Engineering Board Meeting Date
Ajax Engineering schedules a 6 November 2026 board meeting for unaudited quarterly and half-year statements. The trading window stays closed until results are announced.
Ajax Engineering Other Announcement
Ajax Engineering filed its quarterly shareholding pattern as of 30 September 2026 under Regulation 31(1)(b). It is a periodic compliance statement with no transaction, money or corporate event.
Ajax Engineering Other Announcement
AJAX Engineering Ltd submitted its quarterly shareholding pattern as per SEBI Regulation 31(1)(b) for the quarter ended September 30, 2026.
Ajax Engineering Annual General Meeting
Ajax Engineering Limited successfully conducted its 34th Annual General Meeting on September 28, 2026, transacting ordinary and special business items, including adopting audited financial statements.
Ajax Engineering Management Change
Ajax Engineering appointed Shishir Joshipura as Non-Executive Independent Director for a 60-month term. The board approved this change on September 17, 2026.