AJAX Engineering Limited
₹535.45-₹15.85 (-2.9%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹6,581 Cr
- P/E
- 26.2x
- EV / EBITDA
- 20.7x
- Revenue
- ₹2,074 Cr
- Net margin
- 12.9%
- ROCE
- 29.8%
Price chart
Technical chartScreen technicals →-13.2% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -8.8%
- 3M
- -7.8%
- 6M
- +2.6%
- 1Y
- -13.2%
- 5Y
- -11.4%
52-week range
Day change -₹15.85 (-2.9%) from ₹551 to ₹535 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in AJAXENGG, bought on each weekday since 2025.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 18.8%
Concerns0
Rule-based from financial data. Not advice.
About the company
Ajax Engineering Limited manufactures and sells self-loading concrete mixers, concrete batching plants, and concrete pumps in India and internationally. The company also offers transit mixers, stationary concrete pumps, boom pumps, self-propelled boom pumps, 3D concrete printers, and slip-form pavers, as well as dumpers, planetary mixers, and twin shaft mixers. It serves roadways, waterways, irrigation, renewable energy, railways, residential/commercial, airports, and urban infrastructure sectors. Ajax Engineering Limited was incorporated in 1992 and is headquartered in Bengaluru, India.
- Sector
- Industrials
- Shares outstanding
- 11.4 Cr shares
- ISIN
- INE274Y01021
- BSE code
- 544356
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹6,581 Cr
- P/E
- 26.2x
- P/B
- 5.3x
- EV / EBITDA
- 20.7x
- EV / Sales
- 3.7x
- P/S
- 3.8x
- Earnings yield
- 3.8%
- 52-week high
- ₹671.25
- 52-week low
- ₹402.40
Profitability
- Operating margin
- 15.9%
- Net margin
- 12.9%
- EBITDA margin
- 18.0%
- ROE
- 24.5%
- ROCE
- 29.8%
- ROA
- 18.2%
- Dividend payout
- 11.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 12.6%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,074 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.1%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 18.8%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹314 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 63.5%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 15.6%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 17.6%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹207 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.9%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹17.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 27.8%
Solvency and efficiency
- Current ratio
- 3.39
- Debt / Equity
- 0.01
- Debt / Assets
- 0.01
- Debt / EBITDA
- 0.03
- Interest coverage
- 138.00
- Financial leverage
- 1.35
- CFO / Net profit
- 0.92
- Cash / Market cap
- 6.5%
- Cash per share
- ₹37.22
- Asset turnover
- 1.41
- Fixed asset turnover
- 10.43
- Capital intensity
- 0.10
- Debtor days
- 18 days
- Inventory turnover
- 5.62
- Cash conversion cycle
- 24 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹13 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,756 Cr |
| Sales | Operating profit | ₹318 Cr |
| Operating profit | Depreciation | ₹11 Cr |
| Operating profit | Profit before tax | ₹307 Cr |
| Other income | Profit before tax | ₹43 Cr |
| Profit before tax | Tax and other | ₹91 Cr |
| Profit before tax | Net profit | ₹260 Cr |
Revenue and net profit
Revenue grew 19.1% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹742 Cr | ₹97 Cr |
| FY2022 | ₹763 Cr | ₹66 Cr |
| FY2023 | ₹1,151 Cr | ₹136 Cr |
| FY2024 | ₹1,741 Cr | ₹225 Cr |
| FY2025 | ₹2,074 Cr | ₹260 Cr |
Cash flows
FY2025: ₹43.0 Cr from operations, ₹8.00 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹72 Cr | ₹65 Cr |
| FY2022 | ₹85 Cr | -₹44 Cr |
| FY2023 | ₹185 Cr | -₹8 Cr |
| FY2024 | ₹207 Cr | ₹91 Cr |
| FY2025 | ₹43 Cr | ₹8 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹2,074 Cr+19.1%1Y
- Net profit
- ₹260 Cr+15.6%1Y
- Cash from operations
- ₹43 Cr
- Free cash flow
- ₹8 Cr-91.2%1Y
- Revenue CAGR, 5Y
- 18.8%
- EBITDA CAGR, 5Y
- 17.5%
- Net profit CAGR, 5Y
- 17.6%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹2,074 Cr | ₹318 Cr | — | ₹260 Cr | ₹43 Cr | ₹8 Cr | 22.5% | +19.1% | +15.6% |
Monthly returns
Month-by-month returns of AJAXENGG across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,482 Cr |
| Equity capital | ₹11 Cr |
| Reserves | ₹1,146 Cr |
| Borrowings | ₹2 Cr |
| Other liabilities | ₹324 Cr |
| Assets | ₹1,482 Cr |
| Fixed assets | ₹176 Cr |
| Capital work in progress | ₹21 Cr |
| Investments | ₹656 Cr |
| Other assets | ₹630 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
AJAXENGG trades at 26.2x earnings against a peer median of 38.3x (a 32% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| AJAX Engineering LimitedAJAXENGGthis companyP/E ↓ discount | ₹6,581 Cr | 26.2x | 5.3x | 24.5% | 20.7x |
| Diamond Power Infrastructure LimitedDIACABS | ₹6,926 Cr | 118.0x | -9.7x | -1.7% | 170.5x |
| Kirloskar Pneumatic Co.Ltd.KIRLPNU | ₹6,830 Cr | 35.8x | 6.0x | 14.4% | 30.9x |
| Fujiyama Power Systems LimitedUTLSOLAR | ₹6,662 Cr | 35.6x | — | 18.8% | 66.7x |
| EPL LIMITEDEPL | ₹6,577 Cr | 28.2x | 6.1x | 18.6% | 20.5x |
| Mishra Dhatu Nigam LimitedMIDHANI | ₹6,393 Cr | 59.8x | 4.4x | 6.9% | 28.8x |
| Suprajit Engineering Ltd.SUPRAJIT | ₹6,296 Cr | 24.9x | 4.5x | 18.1% | 18.5x |
| Atlanta Electricals LimitedATLANTAELE | ₹6,283 Cr | 51.5x | 8.0x | 27.3% | 50.7x |
| Welspun Enterprises LimitedWELCORP | ₹6,264 Cr | 20.0x | 2.2x | 11.8% | 13.7x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
AJAXENGG since 1 January, against earlier years.
Historical volatility
AJAXENGG's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 17.0% |
| FY2022 | 12.0% |
| FY2023 | 15.0% |
| FY2024 | 16.0% |
| FY2025 | 15.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹2,074 Cr |
| Costs | |
| Interest | -₹1 Cr |
| Expenses | ₹1,756 Cr |
| Operating profitOperating Profit | ₹318 Cr |
| Other income and charges | |
| Profit before tax | ₹351 Cr |
| Tax | |
| Net profitNet Profit | ₹260 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,482 Cr |
| Equity capitalEquity Capital | ₹11 Cr |
| Reserves | ₹1,146 Cr |
| Borrowings | ₹2 Cr |
| Other liabilitiesOther Liabilities | ₹324 Cr |
| AssetsTotal Assets | ₹1,482 Cr |
| Fixed assetsFixed Assets | ₹176 Cr |
| Capital work in progressCWIP | ₹21 Cr |
| Investments | ₹656 Cr |
| Other assetsOther Assets | ₹630 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹43 Cr |
| Investing cash flowCash from Investing Activity | -₹35 Cr |
| Financing cash flowCash from Financing Activity | -₹26 Cr |
| Change in cashNet Cash Flow | -₹17 Cr |
Learn while you research
Academy chapters picked for AJAX Engineering Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 04 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read