Ajax Engineering Reports Stable FY26 Revenue at ₹2,103 Crore as Q4 Margins Rise on Cost Efficiencies
New Delhi, May 20, 2026: Concreting equipment manufacturer Ajax Engineering Limited announced its Q4 and FY26 financial results, posting full-year revenue growth to ₹2,103 crore despite navigating a challenging macroeconomic and transitionary operating environment. While total FY26 revenue rose 1% from ₹2,074 crore in FY25, full-year profit after tax closed at ₹225 crore against ₹260 crore in the prior fiscal. This annualized bottom-line performance was impacted by transition costs linked to new emission norms, leaving full-year EBITDA at ₹266 crore with a 12.6% margin, Ajax Engineering said in a press release.
The company’s fourth-quarter metrics, however, demonstrated a sharp recovery driven by operational efficiencies, process discipline, and calibrated pricing actions. In Q4 FY26, revenue from operations held steady at ₹758 crore compared to ₹756 crore in Q4 FY25. Backed by a favorable product mix, Q4 gross margins expanded by 170 basis points year-on-year to 25.8%. Quarterly EBITDA grew 4% year-on-year to ₹115 crore, pushing the EBITDA margin up by 40 basis points to 15.1%, while quarterly net profit climbed to ₹95 crore from ₹91 crore in the prior year’s corresponding period.
Operationally, the manufacturer made significant progress in diversifying its financial base as full-year non-SLCM segment revenue grew by 7% year-on-year, and spares and services revenues increased by 9%. Following the complete phase-out of older emission-standard machinery, Ajax successfully reclaimed its dominant market share in the Self-Loading Concrete Mixer (SLCM) segment to 73.5% by the close of FY26. Moving forward, the company’s strategic outlook remains focused on scaling non-SLCM business, sustaining pricing discipline, and capitalizing on infrastructure-led equipment demand.\
Reflecting on the Q4 and FY26 performance, Shubhabrata Saha, Managing Director & Chief Executive Officer of Ajax Engineering, said: “It has been a challenging and transitionary phase over the last few quarters, with only 55% of the Central capex on infrastructure being utilised till Dec 2025 and the CEV-IV to CEV-V emission norms leading to an increase in the cost of production. Despite an industry slowdown, we were able to effectively navigate these challenges and maintain market share. With the complete phase-out of older emission-standard machines during the year, we steadily regained momentum across markets, and our CEV-V portfolio is seeing strong acceptance from customers. Importantly, this recovery was achieved while maintaining our premium positioning in the market, reflecting the strength of our brand, product quality and customer trust. We remain fully confident in the long-term growth prospects of our business. The government’s continued focus on infrastructure development and the ongoing transition towards mechanised construction and concreting equipment are expected to support steady demand and position Ajax well for sustained growth.”
