Ajax Engineering
Ajax Engineering Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹434Cr
- −20.8% YoY
- Net profit
- ₹38Cr
- −44.1% YoY
- Margin
- 10%
- −6 pp YoY
Guidance rank: #10 of 10 in Agricultural, Commercial & Construction Vehicles
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The short version
AJAX Engineering expects steady volume growth driven by ongoing infrastructure development and government capital expenditure push (INR 12.2 lakh crores for FY ‘27). AJAX Engineering expects steady volume growth supported by increased government infrastructure spending and mechanized construction transition.
From Ajax Engineering's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- AJAX Engineering expects steady volume growth driven by ongoing infrastructure development and government capital expenditure push (INR 12.2 lakh crores for FY ‘27).
- Positive demand momentum is seen in specific states like Gujarat, Rajasthan, Odisha, UP, supported by sectors such as solar, irrigation, roads, and PWD projects.
- Anticipates improvement in the fourth quarter (Jan-Mar FY '26) with sustained retail and wholesale demand, which should continue into FY ‘27.
- Non-SLCM portfolio growth expected to pick up after temporary flattening; boom pumps and batching plants show positive trends.
- Pricing adjustments planned for FY ‘27 to partly offset cost inflation, aiming to restore margins while maintaining market share.
2 more points from Ajax Engineering's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- AJAX Engineering Limited plans to commission its fifth manufacturing facility in Q1 of FY 2027.
- The completion of the new facility, originally targeted for H2 FY 2026, has been tactically delayed to Q1 FY 2027.
- This strategic investment aims to support growth ambitions and operational excellence.
- The company continues to maintain a robust cash position, ensuring financial strength for pursuing growth initiatives.
Top-ranked in Agricultural, Commercial & Construction Vehicles
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Ajax Engineering — Quarterly revenue & net profit
Ajax Engineering Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 434 | 548 | -20.8% | 445 | -2.5% |
| Operating profit (EBITDA) | 44 | 88 | -50% | 45 | -2.2% |
| Operating margin | 10% | 16% | -6 pp | 10% | 0 pp |
| Profit before tax | 52 | 92 | -43.5% | 53 | -1.9% |
| Net profit (PAT) | 38 | 68 | -44.1% | 39 | -2.6% |
| EPS (₹) | 3.34 | 5.96 | -44% | 3.42 | -2.3% |
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 →Continue your research
What Ajax Engineering's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
Earlier calls (1)
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Ajax Engineering Q3 FY26 results?
AJAX Engineering expects steady volume growth driven by ongoing infrastructure development and government capital expenditure push (INR 12.2 lakh crores for FY ‘27). AJAX Engineering expects steady volume growth supported by increased government infrastructure spending and mechanized construction transition.
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?
AJAX Engineering Limited plans to commission its fifth manufacturing facility in Q1 of FY 2027.
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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.