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Ajax Engineering Q2 FY27 results are out (Jul–Sep 2026) →Revenue ₹487 CrSee revenue, profit and what management said. You are viewing Q2 FY26.
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Ajax Engineering

Q2 FY26Agricultural, Commercial & Construction Vehicles

Ajax Engineering Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Revenue
₹445Cr
+47.8% YoY
Net profit
₹39Cr
+14.7% YoY
Margin
10%
−3 pp YoY
Price₹566
Market cap₹6.7K Cr
P/E28.9

The short version

Expect early double-digit growth in top line (sales/revenue) for FY '26 compared to historical averages. FY '26 margins expected to dip by 150-200 basis points compared to FY '25 due to increased production costs and product mix changes.

From Ajax Engineering's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Expect early double-digit growth in top line (sales/revenue) for FY '26 compared to historical averages.
  • Volume CAGR for FY '25 to FY '26 expected to be early double-digits, lower than long-term historical CAGR of 18%.
  • Market share in SLCM segment is strong, inching closer to 80% in recent months, supporting volume growth.
  • Growth driven by the established and well-accepted CEV5 product portfolio contributing significantly to volumes.

2 more points from Ajax Engineering's call on revenue

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Profitability & Margins

See what Ajax Engineering said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Current capex includes ongoing investment in the fourth plant at Hosahalli.
  • CWIP (Capital Work in Progress) stands at about INR 35 crores.
  • Additional capex of INR 10 to 15 crores anticipated for the full year for the Hosahalli plant.

2 more points from Ajax Engineering's call on capex

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Top-ranked in Agricultural, Commercial & Construction Vehicles

Ranked on what management guided this quarter

Guidance-ranked
1BEML Ltd
Rev 2Mar 3
2Indo Farm Equipment
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 3Mar 3
5
Rev 3Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Ajax Engineering said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • The large contract order for SLCMs, comprising 110+ machines, was fully executed in Q2 with no expected spillover into H2.
  • This order was part of a quasi-government authority tender and involved aggressive pricing.
  • The company's focus remains on maintaining strong product performance and market share in SLCMs and non-SLCMs, with expected growth in H2.
  • They are closely monitoring market demand and government project execution, which influences future order prospects.

Ajax Engineering — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Ajax Engineering Q2 FY26 results — key figures

Ajax Engineering Q2 FY26 reported results vs Q2 FY25, ₹ crore
₹ CrQ2 FY26Q2 FY25YoYQ1 FY26QoQ
Revenue445301+47.8%467-4.7%
Operating profit (EBITDA)4539+15.4%61-26.2%
Operating margin10%13%-3 pp13%-3 pp
Profit before tax5347+12.8%71-25.4%
Net profit (PAT)3934+14.7%53-26.4%
EPS (₹)3.422.97+15.2%4.62-26%

Source: reported quarterly figures (Screener), ₹ crore.

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹487 Cr, net profit ₹51 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What Ajax Engineering's management said in earlier quarters

Earlier calls (1)

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Frequently Asked Questions

What were Ajax Engineering Q2 FY26 results?

Expect early double-digit growth in top line (sales/revenue) for FY '26 compared to historical averages. FY '26 margins expected to dip by 150-200 basis points compared to FY '25 due to increased production costs and product mix changes.

What is Ajax Engineering share price analysis?

Ajax Engineering currently shows a neutral. The stock trades at a P/E of 28.9 with a market cap of ₹6,661 Cr. Investors should review the full earnings analysis for detailed insights.

Is Ajax Engineering planning capital expenditure?

Current capex includes ongoing investment in the fourth plant at Hosahalli.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.