Price
Financials
Standalone, Rs crore| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 399 | 657 | 469 | 301 | 548 | 756 | 467 | 445 | 434 | 758 | 475 |
| Expenses | 333 | 548 | 389 | 262 | 460 | 645 | 405 | 400 | 389 | 643 | 415 |
| Operating Profit | 67 | 109 | 80 | 39 | 88 | 111 | 61 | 45 | 44 | 115 | 59 |
| OPM % | 17% | 17% | 17% | 13% | 16% | 15% | 13% | 10% | 10% | 15% | 12% |
| Other Income | 9 | 13 | 13 | 11 | 7 | 12 | 13 | 10 | 10 | 13 | 18 |
| Interest | 0 | 1 | 0 | 1 | 1 | -2 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 3 |
| Profit before tax | 72 | 119 | 90 | 47 | 92 | 122 | 71 | 53 | 52 | 126 | 74 |
| Tax % | 26% | 26% | 25% | 28% | 26% | 26% | 25% | 26% | 26% | 25% | 25% |
| Net Profit | 54 | 88 | 67 | 34 | 68 | 91 | 53 | 39 | 38 | 95 | 56 |
| EPS in Rs | 4.71 | 7.72 | 5.86 | 2.97 | 5.96 | 7.95 | 4.62 | 3.42 | 3.34 | 8.30 | 4.86 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 736 | 742 | 763 | 1,151 | 1,741 | 2,074 | 2,103 | 2,111 |
| Expenses | 603 | 613 | 673 | 980 | 1,465 | 1,756 | 1,837 | 1,847 |
| Operating Profit | 133 | 129 | 91 | 171 | 276 | 318 | 266 | 264 |
| OPM % | 18% | 17% | 12% | 15% | 16% | 15% | 13% | 12% |
| Other Income | 7 | 9 | 8 | 21 | 38 | 43 | 46 | 52 |
| Interest | 1 | 1 | 0 | 1 | 2 | -1 | 0 | 0 |
| Depreciation | 8 | 8 | 8 | 9 | 10 | 11 | 10 | 10 |
| Profit before tax | 131 | 129 | 90 | 183 | 302 | 351 | 301 | 305 |
| Tax % | 24% | 25% | 27% | 26% | 25% | 26% | 25% | |
| Net Profit | 100 | 97 | 66 | 136 | 225 | 260 | 225 | 228 |
| EPS in Rs | 19.68 | 22.73 | 19.68 | 19.92 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 11% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 23% | 22% | 2% | ||
| Compounded Profit Growth | % | 19% | 19% | -6% | ||
| Stock Price CAGR | % | % | % | -9% | ||
| Return on Equity | % | 21% | 23% | 18% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 11 | 11 | 11 | 11 |
| Reserves | 412 | 509 | 575 | 702 | 907 | 1,146 | 1,381 |
| Borrowings | 15 | 1 | 7 | 12 | 8 | 2 | 2 |
| Other Liabilities | 130 | 218 | 150 | 241 | 310 | 324 | 358 |
| Total Liabilities | 560 | 731 | 735 | 967 | 1,236 | 1,482 | 1,752 |
| Fixed Assets | 0 | 112 | 157 | 167 | 167 | 176 | 182 |
| CWIP | 1 | 1 | 7 | 6 | 17 | 21 | 35 |
| Investments | 201 | 81 | 296 | 495 | 625 | 656 | 952 |
| Other Assets | 358 | 537 | 274 | 299 | 426 | 630 | 583 |
| Total Assets | 560 | 731 | 735 | 967 | 1,236 | 1,482 | 1,752 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 131 | 72 | 85 | 185 | 207 | 43 | 377 |
| Cash from Investing Activity | -109 | -7 | -129 | -193 | -116 | -35 | -257 |
| Cash from Financing Activity | -14 | 0 | -0 | -0 | -25 | -26 | -0 |
| Net Cash Flow | 8 | 65 | -44 | -9 | 66 | -17 | 120 |
| Free Cash Flow | 117 | 36 | 71 | 168 | 185 | 20 | 350 |
| CFO/OP | 120% | 73% | 121% | 136% | 102% | 41% | 171% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 28 | 29 | 26 | 24 | 18 | 29 | 31 |
| Inventory Days | 108 | 186 | 115 | 76 | 65 | 62 | 38 |
| Days Payable | 62 | 101 | 39 | 71 | 60 | 54 | 57 |
| Cash Conversion Cycle | 74 | 115 | 102 | 29 | 24 | 37 | 12 |
| Working Capital Days | 38 | 56 | 44 | 10 | 6 | 40 | 8 |
| ROCE % | 27% | 17% | 28% | 37% | 34% | 24% |
| Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 80.00% | 80.00% | 80.00% | 80.00% | 80.00% | 80.00% |
| FIIs | 5.95% | 6.47% | 6.51% | 6.15% | 5.65% | 4.67% |
| DIIs | 7.92% | 8.94% | 9.42% | 9.71% | 10.15% | 11.17% |
| Public | 6.14% | 4.58% | 4.08% | 4.14% | 4.20% | 4.17% |
| No. of Shareholders | 1,52,056 | 94,515 | 77,176 | 72,724 | 72,001 | 69,540 |
Fundamentals
Market Cap₹ 6,769 Cr.
Current Price₹ 592
Stock P/E29.4
Book Value₹ 122
ROCE23.9 %
ROE17.8 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)-6%
Standalone figures.
Valuation
Market capRs 6,709 Cr
Enterprise valueRs 6,712 Cr
P/E (TTM)29.44x
Price to book9.40x
Price to sales3.18x
EV / EBITDA21.29x
EV / EBIT22.01x
EV / sales3.18x
Price to cash flow36.32x
Earnings yield3.40%
Profitability
Operating margin (excl. other income)14.84%
Operating margin (incl. other income)16.70%
EBITDA margin14.93%
Pre-tax margin14.43%
Net profit margin10.80%
Net margin, latest quarter11.72%
ROE21.04%
ROCE28.02%
ROA15.97%
ROE, 3-year average18.07%
ROCE, 3-year average24.07%
ROA, 3-year average13.36%
ROIC (approx.)31.63%
Tax rate25.72%
Other income / net worth2.99%
Growth
Sales growth (latest year)50.81%
Profit growth (latest year)105.26%
Sales CAGR, 3 years16.08%
Profit CAGR, 3 years10.83%
Sales growth QoQ-37.36%
Profit growth QoQ-41.45%
Sales growth YoY (latest quarter)1.73%
Profit growth YoY (latest quarter)5.14%
Per share
EPS (TTM)Rs 19.92
EPS (latest year)Rs 1,187.87
EPS (latest quarter)Rs 4.86
EPS, 3-year averageRs 2,302.60
Book value per shareRs 62.39
Sales per shareRs 184.48
Cash flow per shareRs 16.14
Free cash flow per shareRs 30.59
Efficiency
Asset turnover1.19x
Fixed asset turnover6.91x
Inventory turnover4.88x
Inventory days75 days
Debtor days24 days
Debtors turnover15.34x
Creditor days57 days
Cash conversion cycle12 days
Working capital days8 days
Leverage
Total debtRs 12 Cr
Cash and bankRs 9 Cr
Net debtRs 3 Cr
Debt to equity0.02x
Net debt / EBITDA0.01x
Interest coverage743.88x
Current ratio (filing 2026-03-31)4.19x
Quick ratio (filing 2026-03-31)3.71x
Trade payables (filing 2026-03-31)Rs 245 Cr
Owners' fund to total sources73.84%
Debt to assets1.20%
Cash flow
Cash from Operating Activity (latest year)Rs 185 Cr
Cash from Investing Activity (latest year)Rs -193 Cr
Cash from Financing Activity (latest year)Rs -0 Cr
Net Cash Flow (latest year)Rs -9 Cr
Free cash flow (latest year)Rs 350 Cr
FCFE (approx.: FCF + change in debt)Rs 354 Cr
Cash from ops / profit, 5 years0.98x
Sales to cash flow6.23x
Statement figures
Net sales (TTM)Rs 2,111 Cr
Net sales (latest year)Rs 1,151 Cr
Sales (latest quarter)Rs 475 Cr
Operating profit excl. other income (latest year)Rs 171 Cr
Operating profit (latest quarter)Rs 59 Cr
Other income (TTM)Rs 52 Cr
EBITDA (TTM)Rs 315 Cr
PBDT (TTM)Rs 315 Cr
Profit before tax (TTM)Rs 305 Cr
Tax (latest year)Rs 47 Cr
Net profit (TTM)Rs 228 Cr
Net profit (latest year)Rs 136 Cr
Net profit (latest quarter)Rs 56 Cr
Depreciation (TTM)Rs 10 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 845 Cr
Total expenditure (latest year)Rs 980 Cr
Total income (latest year)Rs 1,172 Cr
Share capitalRs 11 Cr
ReservesRs 702 Cr
Shareholders' fundsRs 714 Cr
Total assetsRs 967 Cr
Net blockRs 167 Cr
Capital work in progressRs 6 Cr
InvestmentsRs 495 Cr
ReceivablesRs 75 Cr
InventoryRs 173 Cr
Other liabilitiesRs 241 Cr
Shares outstanding (crore)11.44
Ownership
Promoter holding80.00% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | AJAXENGG | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +1.9% | -2.8% | +4.7 pts |
| 1 month | +2.2% | -6.8% | +9.0 pts |
| 3 months | +8.4% | -7.6% | +16.0 pts |
| 6 months | +45.1% | +0.4% | +44.7 pts |
| 1 year | -9.5% | -9.9% | +0.4 pts |
17 mutual fund schemes hold about ₹472 Cr.
Over three months 1 bought more and 14 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| SBI Children's Fund-Investment Plan | 1.65% | 128 | -13% |
| Franklin India Small Cap Fund | 0.55% | 81 | +15% |
| SBI Small Cap Fund | 0.16% | 69 | -8% |
| SBI Infrastructure Fund | 1.22% | 59 | -22% |
| WOC Flexi Cap Fund | 0.46% | 42 | -13% |
| WOC Mid Cap Fund | 0.37% | 28 | -19% |
| WOC Multi Cap Fund | 0.53% | 22 | -14% |
| SBI Quality Fund | 0.67% | 18 | -41% |
| WOC Multi Asset Allocation Fund | 0.10% | 9 | -14% |
| WOC Quality Equity Fund | 1.02% | 6 | -2% |
| WOC Balanced Advantage Fund | 0.25% | 6 | -7% |
| WOC ELSS Tax Saver Fund | 0.59% | 3 | -9% |
| WOC Aggressive Hybrid Fund | 0.22% | 1 | -44% |
| WOC Balanced Hybrid Fund | 0.24% | 1 | -5% |
| WOC Equity Savings Fund | 0.09% | 0 | -2% |
| HSBC Infrastructure Fund | 0.00% | 0 | -100% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | -8% |
Red flags
F-score 6 of 7| look | Auditor change Auditor change 2026-08-05: Ajax Engineering Limited has informed the Exchange regarding Change in Auditors of the company. |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹475 Cr +1.7% vs Jun 2025.
Net profit ₹56 Cr +5.7%.
Against our estimate for Jun 2026: sales +13.4%, profit +32.9% beat. Our estimate for Sep 2026: sales Rs 449 Cr, profit Rs 46 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| BEML Ltd | 16,380 | 91.8 | 7.66 % |
| Action Construction Equipment Ltd | 14,359 | 32.9 | 31.6 % |
| TIL Ltd | 2,037 | 2.90 % | |
| Indo Farm Equipment Ltd | 638 | 25.6 | 7.70 % |
| Brady & Morris Engineering Company Ltd | 144 | 29.9 | 14.1 % |
No bulk or block deals on record.
No corporate actions on record.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Ajax Engineering Ltd?
Ajax Engineering Ltd (AJAXENGG) has a market capitalisation of Rs 6,769 Cr. at the 2026-10-01 close.
What is the P/E ratio of Ajax Engineering Ltd?
Ajax Engineering Ltd trades at a P/E of 29.4 on trailing twelve-month profit, at the 2026-10-01 close.
What were Ajax Engineering Ltd's latest quarterly results?
In the Jun 2026 quarter, Ajax Engineering Ltd sales was Rs 475 Cr (+1.7% vs Jun 2025) and net profit was Rs 56 Cr.
What is the 52-week high and low of Ajax Engineering Ltd?
The 52-week high is Rs 678.00 and the 52-week low is Rs 394.80.