AJAXENGG Ajax Engineering Q4 FY26 results (Jan–Mar 2026) and concall
Ajax Engineering reported a resilient Q4 and FY26, navigating industry headwinds like slower government capex and payment delays. While full-year EBITDA margins compressed to 12.6% from 15.3% due to CEV5 transition costs and lower volumes, Q4 saw margin recovery to 15.1% driven by price hikes and cost optimization. The company demonstrated strong cash flow generation, reducing working capital to a five-year low of 21 days, and recovered market share to 73.5% for FY26.
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What they filed
Q4 FY26: revenue up 0.3%, net profit up 4.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 301 | 548 | 756 | 467 | 445 +48% | 434 −21% | 758 +0% |
| EBITDA | 39 | 88 | 111 | 61 | 45 +15% | 44 −50% | 115 +4% |
| Net profit | 34 | 68 | 91 | 53 | 39 +15% | 38 −44% | 95 +4% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
