Ajax Engineering announced its unaudited financial results for the quarter ended June 30, 2026. The company achieved a modest 1.7% revenue growth to ₹4,746 million, driven by increased market share in the SLCM segment to 75.1%. Despite a soft demand environment, Ajax demonstrated operational agility and prudent financial management, maintaining healthy return ratios and a strong cash balance.
Ajax Engineering Reports Q1 FY27 Financials
Ajax Engineering Limited, a leading manufacturer of concrete equipment in India, has released its unaudited financial results for the first quarter of FY27, ending on June 30, 2026. The company reported a total revenue from operations of ₹4,746 million, a 1.7% increase year-over-year compared to ₹4,665 million in Q1 FY26. This performance was achieved amidst a challenging market environment characterized by soft demand.
Key Highlights and Market Performance
The company highlighted several key operational and financial achievements for Q1 FY27. Revenue saw growth across all its business verticals: SLCM, Non-SLCM, and Spares & Services. This growth was bolstered by strategic price adjustments and a favourable product mix. Notably, Ajax Engineering expanded its retail market share in the SLCM segment to 75.1%, up from 69% in Q1 FY26. This gain underscores the strength of the Ajax brand, its extensive distribution network, and customer trust.
Ajax Engineering maintained a strong focus on financial discipline, emphasizing cash flow generation and efficient working capital management. The company reported healthy return ratios and maintained a robust cash balance exceeding ₹11,000 million as of June 2026, providing significant flexibility for future growth initiatives.
Financial Performance Summary (in millions)
| Q1 FY27 | Q1 FY26 | Y-o-Y | |
| SLCM Revenue | 3,877 | 3,848 | 0.8% |
| Non-SLCM Revenue | 477 | 448 | 6.4% |
| Spares & Services Revenue | 392 | 369 | 6.2% |
| Total Revenue from Operations | 4,746 | 4,665 | 1.7% |
| EBITDA | 591 | 614 | -3.7% |
| EBITDA Margin (%) | 12.5% | 13.2% | -70 bps |
| Profit After Tax | 556 | 529 | 5.2% |
| PAT Margin (%) | 11.7% | 11.3% | 40 bps |
Outlook and Management Commentary
Looking ahead, Ajax Engineering anticipates an improvement in customer sentiment and demand momentum in the second half of the fiscal year. The company’s performance is consistently evaluated on an annualized basis. Mr. Shubhabrata Saha, Managing Director & Chief Executive Officer, commented that while India’s infrastructure sector remains structurally attractive, near-term headwinds persisted in Q1 FY27 due to lower-than-expected government capex, slow project execution, and delayed contractor payments.
The ~2% price increase implemented in Q4 FY26 supported growth during the quarter. Ajax maintains its leadership position in the SLCM retail market, now at 75.1%, attributed to its brand strength, product quality, and robust distribution network. The company continues to navigate the current environment with agility and financial prudence.
Source: BSE
