AJAX Engineering Reports 48% YoY Revenue Growth in Q2 FY26, Driven by Strong SLCM Demand & Large Contract Deliveries

Ajax Engineering Limited reported robust financial performance for Q2 and H1 FY26, with revenue rising 48% year-on-year to Rs 445 crore in Q2 and 18% to Rs 911 crore in H1. The growth was driven by strong deliveries under large contracts and continued leadership in the Self-Loading Concrete Mixer (SLCM) segment.

EBITDA for Q2 FY26 stood at Rs 45 crore, marking a 16% YoY increase, while Profit After Tax (PAT) rose 15% YoY to Rs 39 crore. However, EBITDA margins declined by 280 basis points due to transition costs associated with new CEV-V emission norms and changes in the product mix.

The company’s continued focus on innovation, sustainability, and customer-centric product development has reinforced its position as a leading player in India’s concrete equipment industry.

Shubhabrata Saha, Managing Director & CEO, Ajax Engineering Limited, said, “After a steady performance last year, the last couple of quarters have been a period of transition. Unseasonal rains, change in emission norms, and slower project execution affected demand temporarily. However, Ajax delivered 48% year-on-year revenue growth in Q2 and 18% in H1 and volume growth remains robust across both SLCM and non-SLCM categories. While increased cost of production and changes in revenue mix impacted margins, operating leverage and efficiency measures are expected to aid profitability in the second half of FY26. We remain confident in the long-term growth trajectory and our leadership position in the concrete equipment industry.”

Key Business Highlights

SLCM revenue: up 55% in Q2 and 21% in H1
Non-SLCM revenue: grew 12% in Q2, stable in H1.
Spares & Services: up 26% in Q2 and 16% in H1 YoY.
Exports: 6% of total revenues.
Dealer network: expanded to 115 customer touchpoints.
Adinarayanahosahalli plant on track for commissioning in H2 FY26 with ramp-up expected in FY27.