AJAX Engineering Ltd — earnings calls
1 quarter summarised from transcripts filed with the exchange, every statement cited. Newest first.
AJAX Engineering reported FY26 total revenue of about INR2,103 crores, a modest increase over INR2,074 crores in FY25, with EBITDA declining to INR266 crores from INR318 crores as margins compressed to 12.6% from 15.3%. Management attributed the margin decline to higher production costs from the CEV4 to CEV5 emission transition and a calibrated pricing approach, while noting SLCM volumes fell about 4% versus an estimated 11% industry decline. Q4 FY26 showed a turnaround with revenue flat at INR758 crores, gross margin up 170 bps to 25.8%, and EBITDA margin improving to 15.1%, supported by a 2% price increase taken in the quarter and cost reduction initiatives.