Ajax Engineering Limited reported strong financial results for FY25, with revenue from operations rising 19% year-on-year to ₹2,074 crore. EBITDA came in at ₹318 crore, reflecting a 15.5% increase, while profit after tax (PAT) stood at ₹260 crore, up 16% from the previous year. During the fourth quarter, the company posted revenue of ₹756 crore, up 15% YoY. EBITDA for the quarter grew marginally by 1.5% to ₹111 crore, and PAT increased 3% to ₹91 crore.
According to Managing Director & CEO Shubhabrata Saha, the company successfully navigated regulatory changes and slower infrastructure execution while maintaining growth. Ajax sustained a 75% market share in the Self-Loading Concrete Mixer (SLCM) category. The non-SLCM and spares segments also continued to expand, aided by a dedicated B2B sales strategy. The company plans to begin operations at its new Adinarayanahosahalli facility in the second half of FY26.
CFO Tuhin Basu highlighted strong, across-the-board growth for Ajax Engineering in FY25, with significant contributions from key business areas. Sales of Self-Loading Concrete Mixers (SLCM) and non-SLCM products grew 18% year-on-year, reflecting solid demand across these segments. Spare parts and service revenues surged 33%, while export revenues saw a robust 29% increase, demonstrating Ajax’s strong market presence both domestically and internationally. Despite these gains, EBITDA margins were somewhat pressured due to investments in capability-building, though the company expects profitability to stabilize as these initiatives mature.
Ajax has made significant strides in its strategic operations, particularly with its transition to CEV-5 compliant models. The company preemptively scaled up production of CEV-4 models ahead of the regulatory deadline and has already launched the CEV-5 models, which made up about one-third of Q4 sales. Product innovation remains a key focus, with Ajax leading the domestic market as the sole manufacturer of in-house Slip-Form Pavers and commercial 3D concrete printers. Additionally, the company has expanded its network to 51 dealers in India and 26 international distributors, reaching a total of 48 countries.
Looking ahead, Ajax continues to scale its operations with a focus on capacity and market expansion. The new Adinarayanahosahalli plant is on schedule for commissioning in Q2 FY26, with commercial production expected to begin in H2 FY26. The company is also rolling out a new B2B sales strategy targeting institutional buyers, which is expected to drive growth in its non-SLCM segment. These initiatives, combined with Ajax’s strong market position and innovative product offerings, set the stage for continued growth in the coming years.
Founded in 1992 and headquartered in Bangalore, Ajax Engineering is a leading manufacturer of concreting equipment, with a strong presence in over 100 global locations. Its portfolio includes Self-Loading Concrete Mixers, Batching Plants, Transit Mixers, Stationary and Boom Pumps, and Slip-Form Pavers. The company operates advanced production facilities in Doddaballapur and Gowribidanur and serves markets across Asia, Africa, and the Middle East.
