AJAX Engineering Crosses ₹2,000 Cr Revenue in FY25 with 16 Percent PAT Growth and New Capacity Pipeline

Self-Loading Concrete Mixer leader accelerates B2B strategy, expands dealer footprint, and prepares for launch of Adinarayanahosahalli plant in FY26

AJAX Engineering Ltd., India’s premier concreting equipment manufacturer, has announced a robust financial performance for FY25. The company posted a 19 percent increase in revenue from operations, reaching ₹2,074 crore, and a 15.5 percent year-on-year rise in profit after tax, which stood at ₹260 crore.
This marks the first time AJAX has crossed the ₹2,000 crore revenue threshold, solidifying its leadership in the self-loading concrete mixer segment, where it holds a 75 percent domestic market share. Its earnings before interest, taxes, depreciation, and amortization for the year came in at ₹318 crore, up from ₹276 crore last year.
Managing Director and CEO Shubhabrata Saha credited the company’s growth to strategic resilience amid industry-wide regulatory shifts. He highlighted AJAX’s early compliance with the new CEV-5 emission norms and the successful introduction of compliant models ahead of schedule.

Quarter Four Performance and Margin Trends
For Q4 FY25, AJAX reported ₹756 crore in revenue, a 15 percent year-on-year increase. Quarterly EBITDA rose slightly to ₹111 crore from ₹109 crore in Q4 FY24. Net profit for the quarter reached ₹91 crore, reflecting a 3 percent increase. Despite strong revenue growth, EBITDA and PAT margins saw minor declines due to transitional investments in capability building and regulatory compliance.
Chief Financial Officer Tuhin Basu noted that both the SLCM and non-SLCM businesses grew 18 percent year-on-year. Spares and services revenue increased by 33 percent, while exports surged by 29 percent. He added that margin recovery is expected in FY26 as ongoing investments begin to yield operational leverage.
Strengthening the Core: Product Innovation and Network Expansion
AJAX continued to enhance its product portfolio during FY25. It remains the only Indian company with indigenous development of a commercial-grade 3D concrete printer and an in-house slip-form paver. These additions strengthen its leadership beyond the SLCM category, enabling it to address advanced paving and construction needs in emerging infrastructure segments.
The company expanded its dealer network to 51 domestic dealers and 26 international distributors, serving customers in over 48 countries. Its international presence includes operations across South Asia, Southeast Asia, Africa, and the Middle East.

Adinarayanahosahalli Plant and Capacity Expansion Roadmap
AJAX is on track to commission its new plant at Adinarayanahosahalli in the second quarter of FY26, with commercial production scheduled for the latter half of the year. This facility will significantly enhance production capacity and enable greater manufacturing flexibility.
Saha confirmed that this expansion will support the company’s B2B-focused strategy, which includes a dedicated go-to-market approach for institutional buyers outside of the SLCM segment. AJAX expects to scale up its non-SLCM revenue contribution substantially over the next two years.
Emission Norms and Regulatory Compliance
One of the defining challenges of FY25 was the industry-wide shift from CEV-4 to CEV-5 emission standards. AJAX took a proactive approach by ramping up its CEV-4 inventory ahead of the regulatory deadline and launching CEV-5 models early. These newer models accounted for nearly one-third of total unit sales in Q4.
This regulatory preparedness not only minimized disruption but also positioned AJAX as a compliance leader in the Indian construction equipment market.

Strategic Outlook
With a robust cash position and a lean working capital model, AJAX is well positioned to invest in innovation and expansion. The management team confirmed that growth initiatives will continue to be balanced by financial prudence, ensuring long-term value creation.
Looking ahead, AJAX is focused on leveraging its R&D capabilities to expand into new product categories, enhance service revenue, and deepen its global market footprint. Leadership expects to maintain double-digit growth across revenue and earnings metrics in FY26.
About AJAX Engineering Ltd.
Founded in 1992 and headquartered in Bengaluru, AJAX Engineering Ltd. is a leading manufacturer of self-loading concrete mixers and a wide range of construction equipment. The company operates world-class manufacturing plants at Doddaballapur and Gowribidanur in Karnataka and is known for its end-to-end solutions in concrete production, transport, and pavement.
Its product suite includes self-loading mixers, batching plants, transit mixers, boom pumps, slip-form pavers, and stationary pumps. The company maintains a customer support network across more than 100 service points and exports to over 20 countries.

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