Skip to content
thestock.space

As of 6 Nov 2026, Ajax Engineering trades at 28.1× trailing earnings, above the industry P/E of 20.4×, and the shares are 18% below their 52-week high. Sales and net profit grew 22% and 18% a year over 3 years, with ROCE of 21% and ROE of 18%. It carries very little debt. It is a small-cap company with a market cap of ₹6,369 Cr, ranked 5th of 24 Farm & Heavy Construction Machinery companies by market cap; the shares fell 5.8% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹563.75
Day high
₹580.00
Day low
₹550.00
Prev. close
₹563.65
Volume
55.4K

Health check

3 good · 2 fair · 1 to check
  • ReturnsIn line

    −5.8% over a year, better than 4 of 7 peers.

  • Price tagPricier

    P/E 28.1 vs industry 20.4.

  • GrowthSteady

    Sales +22.2%, profit +18.3% a year over 3 years.

  • ProfitabilityStrong

    ROCE 21.4% vs peer median 19.4%.

  • Balance sheetSolid

    Practically debt-free, Piotroski 6 of 9.

  • Red flagsNone found

    No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Farm & Heavy Construction Machinery

23 listed peers. Screen the industry

Small cap

₹6,369 Cr, #5 of 24 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹2,111 Cr · profit ₹228 Cr
Market cap
₹6,369 Cr
Small cap
P/E
28.1
Industry 20.4
Price to book
4.57
Peers 6.87
Dividend yield
0.00%
ROE
17.7%
Peers 18.0%
ROCE
21.4%
Peers 19.4%
Debt to equity
0.00
Debt ₹1.83 Cr
EPS (TTM)
₹19.79
Face value ₹1
OPM (TTM)
12.5%
Net margin 10.8%
Sales growth
+1.7%
Latest quarter vs a year ago
Profit growth
+5.2%
Latest quarter vs a year ago
Price to sales
3.02
EV/EBITDA 20.2

Strengths and risks

Strengths

  • Return on capital employed of 21.4%.
  • Practically debt-free.
  • Positive operating cash flow in each of the last 4 years.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Ajax Engineering

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 concrete slip-form pavers, as well as dumpers, planetary mixers, and twin shaft mixers. It serves roadways, waterways, irrigation, renewable energy, railways,…

Headquarters
Bengaluru
Employees
458
Sector
Industrials
ISIN
INE274Y01021
Website
ajax-engg.com

Price range

52 weeks

₹394.80₹678.00

Today

₹550.00₹580.00
Avg volume (3M)
92.2K
1-year return
minus 5.8%
From 52-week high
minus 17.9%

Peers · Farm & Heavy Construction Machinery

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ASHOKLEYAshok Leyland172.09plus 1.10%1,01,08329.112.214.5%21.5%3.4510.6%plus 21.2%
ESCORTSEscorts Kubota2,443.40minus 0.67%26,88820.413.514.4%11.5%0.0111.3%minus 35.6%
ACEAction Construction Equipment1,167.70plus 3.55%13,90031.825.528.5%15.6%0.0015.0%plus 2.8%
OLECTRAOlectra Greentech1,026.35minus 2.21%8,42447.526.619.4%13.8%0.3128.4%minus 30.9%
AJAXENGGAjax Engineering556.65minus 1.24%6,36928.120.021.4%12.5%0.0022.2%minus 5.8%
SWARAJENGSwaraj Engines3,495.30minus 1.97%4,24720.015.252.8%12.6%0.0112.2%minus 9.6%
VSTTILLERSV.S.T Tillers Tractors3,941.70minus 2.48%3,41131.416.512.4%13.3%0.007.2%minus 33.8%
UNIPARTSUniparts India704.60minus 1.75%3,17917.712.522.0%22.3%0.18−4.8%plus 41.4%
Median of 7 peers–−1.75%8,42429.115.219.4%13.8%0.0111.3%−9.6%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
467445434758475
405400389643415
61.445.344.511559.1
13.2%10.2%10.3%15.1%12.5%
12.610.113.313.218.2
0.10.10.1–0.2
32.72.91.92.8
––−3.1––
70.952.651.712674.3
25.5%25.8%26.0%24.6%25.2%
52.939.138.29555.6
4.593.393.328.254.83

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+22.2%
Profit CAGR 3Y
+18.3%
EPS CAGR 3Y
+18.1%
ROE
17.7%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,1501,7402,0722,100
–+51.3%+19.1%+1.4%
9791,4631,7541,834
171276318266
14.9%15.9%15.4%12.7%
6.2810.610.1
0.720.40.3
8.610.310.910.4
15.129.933.435.5
183302351301
25.7%25.4%25.9%25.3%
136225260225
–+65.7%+15.5%minus 13.4%
11.8819.5822.6119.55

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
11.411.411.411.4
7029071,1461,381
11.68.21.81.8
241310324358
9671,2361,4821,752
172186197218
7.720.622.537.4
23.663.729.469.7
4816336951,051
283333539375
9671,2361,4821,752

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
18520742.7377
−193−116−34.7−257
−0.3−25.5−25.5−0.4
−8.866.4−17.4120
−17.2−23.3−23.5−27.7
16818419.3350
–−24.8−24.8–

Shareholding pattern

Source: NSE filings
80.0%
promoters
  • Promoters80.00%
  • Public20.00%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202680.00%20.00%0.00
30 Jun 202680.00%20.00%0.00
31 Mar 202680.00%20.00%0.00
31 Dec 202580.00%20.00%0.00
30 Sep 202580.00%20.00%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you