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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
AJAX Engineering Ltd

AJAX Engineering Q2 FY27 Earnings Call Transcript Released

RESULTS ▲ Positive Development MEDIUM RISK
📅 Filed on BSE: 14 Nov 2026, 11:43 AM IST  ·  BSE ID: d6d99678-c86a-4d3f-983b-8e64c509420e
View Original BSE Filing (PDF)
💡
In Simple Terms
The company released its detailed discussion with analysts about its recent financial performance, showing higher revenue and profit.
🤖 AI Summary
  • AJAX Engineering released the transcript of its Q2 and H1 FY27 earnings conference call from November 6, 2026.
  • Q2 FY27 total revenue was INR 487 crores, reflecting a 9.5% growth over Q2 FY26.
  • Profit After Tax (PAT) for Q2 FY27 increased 30.4% year-on-year to INR 50.9 crores.
  • H1 FY27 total revenue reached INR 961.5 crores, registering a 5.5% growth over H1 FY26.
  • Cash and cash equivalents stood at INR 1,151 crores as of September 2026, with a working capital cycle of 22 days.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Total Revenue Q2 FY27
INR 487 crores
9.5%
PAT Q2 FY27
INR 50.9 crores
30.4%
SLCM Revenue Q2 FY27
INR 395.8 crores
5.9%
Non-SLCM Revenue Q2 FY27
INR 55.8 crores
64.7%
Spares & Services Revenue Q2 FY27
INR 35.4 crores
-4.7%
EBITDA Q2 FY27
INR 51.5 crores
13.7%
Total Revenue H1 FY27
INR 961.5 crores
5.5%
PAT H1 FY27
INR 106.5 crores
16%
SLCM Market Share H1 FY27
75.5%
Cash & Cash Equivalents (Sep 2026)
INR 1,151 crores
🏢 How This Affects the Company
📈
Business Impact
The company gained 480 basis points in SLCM retail market share, reaching 75.5% in H1 FY27, despite commanding a price premium, reflecting strengthening market position. Exports grew by 47% YoY in H1 FY27, signaling international expansion.
💰
Financial Impact
Gross margins marginally improved in Q2 FY27 due to price hikes, offsetting increased raw material costs. The company maintains a strong cash position of INR 1,151 crores, providing financial flexibility.
⚙️
Operational Impact
The company streamlined its organizational structure and implemented measures to optimize cost structure, including diversifying supplier base and engaging alternate vendors. Price increases of 2% in Q4 FY26 and 1% in September FY27 were taken to address rising costs.
⚠️
Risk Impact
Management noted near-term headwinds in certain infrastructure segments, including delays in government payments and moderation in investment pace, leading to temporary project delays and strained contractor cash flows in some states.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this earnings call transcript.
👤
Who Is Affected
Shareholders are provided with detailed insights into the company's financial performance and strategic initiatives for Q2 and H1 FY27. This information helps in understanding the operational and financial health of the company.
🔍
Management Signal
Management is focused on driving market share expansion, diversifying product portfolio (non-SLCM), optimizing operational efficiencies, and maintaining strong financial liquidity with a cash balance of INR 1,151 crores.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Q3 FY27 financial results — assess impact of September price hike and H2 demand improvement.
Updates on government infrastructure spending — monitor for signs of increased project execution.
Progress on UDAAN series and ARGO 4000 market penetration — evaluate contribution to non-SLCM growth.
MEDIUM RISK Near-term headwinds from delayed government payments and moderating state investments could impact project execution and demand.
💡 Investor Takeaway
AJAX Engineering's Q2 FY27 total revenue grew 9.5% to INR 487 crores, with PAT up 30.4% to INR 50.9 crores. H1 FY27 revenue reached INR 961.5 crores, a 5.5% increase. SLCM market share expanded to 75.5% in H1 FY27.
⚖️ Strengths & Concerns

✅ Positives

  • Q2 FY27 PAT grew by 30.4% year-on-year to INR 50.9 crores, indicating improved profitability for the quarter.
  • SLCM retail market share increased to 75.5% in H1 FY27, an expansion of 480 basis points over H1 FY26 (70.7%).

⚠️ Concerns

  • Spares and services revenue for Q2 FY27 declined by 4.7% year-on-year to INR 35.4 crores.
  • EBITDA margin for H1 FY27 marginally decreased to 11.5% from 11.7% in H1 FY26 despite price hikes.
📅 Company Track Record
AJAX Engineering previously reported Q2 FY27 Net Profit up 30.4% to INR 509 million (INR 50.9 crores) and revenue up 9.5% in filings dated November 6, 2026. H1 FY27 Net Profit was INR 106.5 crores, up 16%. The company has consistently highlighted its SLCM market share, which reached 75.5% in H1 FY27 from 70.7% in H1 FY26.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was AJAX Engineering's total revenue for Q2 FY27?
AJAX Engineering's total revenue for Q2 FY27 was INR 487 crores, representing a 9.5% growth over Q2 FY26.
What was AJAX Engineering's Profit After Tax (PAT) in Q2 FY27?
The Profit After Tax (PAT) for AJAX Engineering in Q2 FY27 was INR 50.9 crores, which is a 30.4% increase year-on-year.
What was AJAX Engineering's H1 FY27 total revenue and PAT?
AJAX Engineering's total revenue for H1 FY27 stood at INR 961.5 crores, growing by 5.5% over H1 FY26. PAT for H1 FY27 was INR 106.5 crores, growing by 16% year-on-year.
What is AJAX Engineering's SLCM retail market share for H1 FY27?
AJAX Engineering's SLCM retail market share increased to 75.5% in H1 FY27, an expansion of approximately 480 basis points over the 70.7% in H1 FY26.
What was AJAX Engineering's cash and cash equivalents balance as of September 2026?
As of September 2026, AJAX Engineering maintained a strong cash and cash equivalents position of nearly INR 1,151 crores.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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