Q3 2026 AJAX Engineering Ltd Earnings Call Transcript
Key Points
- Ajax Engineering Ltd (NSE:AJAXENGG) reported a modest revenue growth of 2% year-over-year for the 9 months of FY '26, indicating resilience amidst challenging conditions.
- The company successfully launched its new CV5 machines ahead of the curve, showcasing its operational preparedness and innovation.
- Non-SLCM revenue grew by 4.5%, and spares and services revenue increased by 14% year-over-year, reflecting a diversified revenue stream.
- Ajax Engineering Ltd (NSE:AJAXENGG) maintains strong financial discipline with healthy cash balances and efficient capital allocation.
- The company is expanding its dealer network to deepen market penetration and ensure long-term sustainability.
- Prolonged monsoon conditions and changes in emission norms have created headwinds, impacting operational momentum.
- Cash flow constraints faced by customers have influenced purchasing decisions, affecting demand and overall business performance.
- EBITDA for 9 months FY '26 declined to INR154 crores from INR207 crores in the previous year, with margins impacted by increased production costs.
- Revenue for Q3 FY '26 decreased to INR434 crores from INR548 crores in Q3 FY '25, indicating a decline in SLCM volume and revenue.
- The company faces short-term headwinds due to cyclical industry challenges and a high base effect from the previous fiscal year.
Ladies and gentlemen, good day and welcome to the AJAX Engineering Limited Q3 9 months '26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
Before we begin, I would like to point out that this conference call may contain forward-looking statements about the companies which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and in world risks and uncertainties that are difficult to predict.
I would now like to hand the conference over to Mr. Shubhabrata Saha, Managing Director and CEO of AJAX Engineering Limited.
Thank you and over to you, sir.
Thank you. Good morning, everybody, and apologies. We've been also on the call for the last 19 minutes, but for some glitches, purely out of technical reasons, we are joining in late. Apologies again.
Thank you so much for joining us on
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