AJAX Engineering Ltd

NSE: AJAXENGG · Construction Vehicles

52W Range₹395 ₹730

Snapshot

Unlock AJAX Engineering Ltd's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

AJAX Engineering Limited is a manufacturer of construction equipment, specialising in self-loading concrete mixers, batching plants, and concrete pumps. The company serves diverse sectors including irrigation, railways, power, and urban infrastructure.

Business Model

The company generates revenue through the design, manufacture, and sale of a comprehensive range of concrete equipment and machinery. It operates as an original equipment manufacturer, catering to both domestic and international infrastructure markets.

  • Incorporation Year:1992

Growth Outlook

Growth is driven by sustained demand for infrastructure development in India, particularly in the railway, irrigation, and urban construction sectors. The company's expansion into international markets provides further potential for scaling operations.

Key Risks

  • Cyclicality of Infrastructure Sector. The company's performance is highly sensitive to the cyclical nature of infrastructure spending and government capital expenditure.
  • Raw Material Price Volatility. Fluctuations in the prices of steel and other essential raw materials can significantly impact manufacturing margins.
  • Competitive Intensity. The construction equipment market is highly competitive, requiring continuous innovation and efficient pricing to maintain market share.
  • Economic Sensitivity. Macroeconomic downturns can lead to project delays or cancellations, directly affecting the demand for concrete machinery.

Price

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Key Metrics

P/E

31.1x

Q4 FY26 · standalone

31.1 vs 30.2x5Y avg

EV/EBITDA

21.7x

Q4 FY26 · standalone

21.7 vs 21.2x5Y avg

NET PROFIT MARGIN

12.5%

Q4 FY26 · standalone

+0.5 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · standalone

+0.00xYoY

Peers · Construction Vehicles

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
AJAX Engineering LtdAJAXENGG
5,28731.0721.6715.0%18.5%24.5%-13.2%
BEML Ltd.BEML
12,081121.1324.018.2%7.5%4.9%6.1%-60.6%
Action Construction Equipment Ltd.ACE
9,56128.7819.35-1.4%18.7%24.2%33.4%-13.2%
TILTIL
1,398-47.32101.682.5%5.7%-34.4%2.2%-44.8%

As of Q4 FY26

Financials