Ajax Engineering Ltd.
AJAXENGGNSECapital GoodsEngineering - Industrial EquipmentsSmall Cap
₹549.95
▼ 1.79%
—
Composite
The company is in the business of manufacturing self-loading concrete mixers, concrete batching plants and concrete pumps, being used across various sectors.
Sector: Capital GoodsIndustry: Engineering - Industrial Equipments
Q-DITS fundamental score
—Composite
Growth
2
Profitability
81
Valuation
0
Quality
89
Solvency
100
Earnings
77
Key metrics
MCap
₹6.3K Cr
TTM PE
63x
Industry PE
57.8x
TTM EPS
₹8.73
Book Value
—
Face Value
₹1
Div Yield
0%
PEG
—
PB
0x
ROE
27.4%
ROCE
33.8%
EBITDA mgn
18.7%
D/E
0.04
Int. Cover
209.4x
Curr. Ratio
2.94x
EPS
₹8.73
Growth — CAGR across horizons
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Net Sales | 1.4% | — | — | — |
| EBITDA | -16.4% | — | — | — |
| Net Profit | -12.5% | — | — | — |
Score snapshot
Piotroski
5/9
Altman Z
4.54
Quality
88.5
Growth
1.5
Valuation
—
Earn. Qual
76.5
PEAD
+1
SURGE
+1
Revenue, profitability & returns
Revenue & Net Profit (₹ Cr)
RevenueNet Profit
Margins (%)
EBITDA%PAT%
Return ratios (%)
ROEROCEROA
Annual financials — last 3 years
Tap any row to see its trend
| Metric | 2018 | 2019 | 2020 | Trend |
|---|---|---|---|---|
| ›RevenueCr | 979 | 1,154 | 755 | ↓ |
| ›EBITDACr | 274 | 262 | 141 | ↓ |
| ›EBITDA margin | 28% | 23.9% | 18.7% | ↓ |
| ›Net profitCr | 174 | 156 | 100 | ↓ |
| ›PAT margin | 17.8% | 13.5% | 13.2% | ↓ |
| ›EPS₹ | ₹13.38 | ₹13.63 | ₹8.73 | ↓ |
| ›Revenue growth | 0% | 17.9% | -34.6% | ↓ |
| ›PAT growth | 0% | -10.3% | -36% | ↓ |
| ›ROE | 55% | 49.4% | 27.4% | ↓ |
| ›ROCE | 75.5% | 71.9% | 33.8% | ↓ |
| ›ROA | 34.1% | 30.7% | 18.8% | ↓ |
| ›P/E | 0x | 0x | 0x | — |
| ›P/B | 0x | 0x | 0x | — |
| ›D/E | 0.1 | 0.1 | 0 | ↓ |
| ›Current ratio | 2.5x | 2.1x | 2.9x | ↑ |
| ›Interest cover | 408.5x | 15.3x | 209.4x | ↑ |
Quarterly results
Tap any row to see its trend
| Metric | 2023-12 | 2024-03 | 2024-06 | 2024-09 | 2024-12 | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | Trend |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›RevenueCr | 399 | 657 | 469 | 301 | 548 | 756 | 467 | 445 | 434 | 758 | ↑ |
| ›Rev growth YoY | — | — | — | — | 37.3% | 15% | -0.5% | 47.8% | -20.9% | 0.3% | ↑ |
| ›EBITDACr | 67 | 109 | 80 | 39 | 88 | 111 | 61 | 45 | 45 | 115 | ↑ |
| ›EBITDA margin | 16.7% | 16.6% | 17.1% | 13% | 16.1% | 14.7% | 13.2% | 10.2% | 10.3% | 15.1% | ↑ |
| ›Net profitCr | 54 | 88 | 67 | 34 | 68 | 91 | 53 | 39 | 38 | 95 | ↑ |
| ›PAT growth YoY | — | — | — | — | 26.3% | 3% | -21.1% | 14.8% | -43.9% | 4.4% | ↑ |
| ›EPS₹ | ₹4.71 | ₹7.72 | ₹5.86 | ₹2.97 | ₹5.95 | ₹7.95 | ₹4.62 | ₹3.41 | ₹3.34 | ₹8.3 | ↑ |
Balance sheet — last 3 years (₹ Cr)
Tap any row to see its trend
| Metric | 2018 | 2019 | 2020 | Trend |
|---|---|---|---|---|
| ›Shareholders' equityCr | 316 | 315 | 414 | ↑ |
| ›ReservesCr | 313 | 312 | 412 | ↑ |
| ›Total borrowingsCr | 0 | 0 | 0 | — |
| ›InvestmentsCr | 252 | 123 | 235 | ↑ |
| ›Total assetsCr | 347 | 335 | 415 | ↑ |
| ›Current assetsCr | 410 | 358 | 403 | ↑ |
| ›Current liabilitiesCr | 162 | 172 | 137 | ↓ |
| ›Trade payablesCr | 119 | 109 | 82 | ↓ |
| ›Gross blockCr | 74 | 122 | 130 | ↑ |
Cash flow statement (₹ Cr)
Tap any row to see its trend
| Metric | 2018 | 2019 | 2020 | Trend |
|---|---|---|---|---|
| ›Operating CF (CFO)Cr | 181 | 41 | 131 | ↑ |
| ›Investing CF (CFI)Cr | -195 | 131 | -109 | ↓ |
| ›Financing CF (CFF)Cr | 28 | -172 | -28 | ↑ |
| ›Net cash changeCr | 14 | 1 | -7 | ↓ |
| ›Closing cashCr | 6 | 7 | 0 | ↓ |
Cash flow components
CFO · CFI · CFF (₹ Cr)
CFOCFICFF
Q-DITS scorecard
Composite score
—
Quality (25%)88.5
Growth (25%)1.5
Valuation (20%)—
Piotroski (15%)56
Earnings Quality (10%)76.5
Momentum (5%)—
Weighted blend, rescaled to the components available for this stock.
Piotroski F-Score
5/9
✓ROA positiveROA 18.81%
✓CFO positiveCFO ₹130.9 Cr
✗ROA improving30.66% → 18.81%
✓CFO > PAT (low accruals)CFO 130.9 vs PAT 99.83
✓Leverage decreasedD/E 0.14 → 0.04
✓Liquidity improvedCR 2.08 → 2.94
✗No share dilutionEPS 13.63 → 8.73
✗Margin improvedEBITDA mgn 23.88% → 18.71%
✗Asset turnover upAsset TO 2.27 → 1.42
Altman Z-Scoresafe
4.54
X1
0.642
X2
0.993
X3
0.321
X4
1
X5
1.82
>2.9 safe · 1.23–2.9 grey · <1.23 distress
Quality
88.5/100
ROE
27.4%
ROCE
33.8%
Margin
13.2%
Debt
0
Int. cover
209.4x
Growth
1.5/100
Revenue 3Y
1.4%
Profit 3Y
-12.5%
EPS
-36%
Valuation
N/A
PE
—
PB
—
EV/EBITDA
—
Earnings quality
76.5/100
CFO₹131 Cr
PAT₹100 Cr
Accrual ratio-0.075
CFO/PAT1.31x
PEAD · SURGE
+1 / +1
Revenue SUE-0.62
EPS SUE1.81
Latest quarter2026-03
Rev growth YoY0.3%
Documents & filings
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Peer comparison
| Company | MCap (Cr) | Revenue | PAT | PE | PB | ROE% | ROCE% | D/E |
|---|---|---|---|---|---|---|---|---|
| Bharat Heavy Electricals Ltd. | 1,44,088 | 33,782 | 1,539 | 90x | 5.5x | 2.2 | 4.9 | 0.36 |
| Thermax Ltd. | 56,084 | 10,687 | 721 | 77.8x | 10.1x | 13.4 | 16.2 | 0.34 |
| Kirloskar Oil Engines Ltd. | 28,965 | 7,701 | 558 | 50.4x | 8x | 16.6 | 14.6 | 1.88 |
| Triveni Turbine Ltd. | 21,350 | 2,181 | 351 | 61.1x | 14.8x | 33 | 45.4 | 0 |
| Inox India Ltd. | 17,405 | 1,587 | 258 | 67.5x | 15.7x | 26.1 | 33.5 | 0.06 |
| Jyoti CNC Automation Ltd. | 16,828 | 2,093 | 336 | 50.1x | 8.4x | 20.7 | 23.9 | 0.29 |
| Azad Engineering Ltd. | 13,532 | 603 | 134 | 101.8x | 8.9x | 8.5 | 12.3 | 0.17 |