Ajax Engineering share price today

Ajax Engineering Ltd's share price was ₹559.95 at the close on 4 November 2026. It has been rising for 14 weeks. That is 1.0% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹426 and ₹671, and at that close it sat 55% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ajax Engineering Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 12 weeks in a row.

Over the last 1 year the share price moved −7% while the NIFTY 500 moved +7%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: indian funds and insurers (DIIs) raised their stake for 6 quarters in a row and foreign funds (FIIs) cut their stake for 4 quarters in a row.

1. Indian funds and insurers (DIIs) raised their stake for 6 quarters in a row

   From 7.9% to 11.2% of the company by the September 2026 quarter.

2. Foreign funds (FIIs) cut their stake for 4 quarters in a row

   From 6.5% to 4.1% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Ajax Engineering reported revenue of ₹475 crore, up 1.7% from ₹467 crore a year earlier, and a profit of ₹56.0 crore, up 5.7% from ₹53.0 crore.

Ajax Engineering results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Ajax Engineering's management discussed these results on a call held on 6 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Ajax Engineering closed at ₹559.95 on 4 November 2026, down 5.8% from ₹594.20 a year earlier (7 November 2025). Its highest weekly close since February 2025 was ₹719.30 on 29 August 2025.

Ajax Engineering share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

96 weekly closes from 21 February 2025 to 4 November 2026.

4 Nov 2026: Ajax Engineering closed at ₹559.95, up 4.6% on the week and down 4.5% on the month. 6 Aug 2026: Ajax Engineering held its results call for April to June 2026. Management guided: Nearly 60% of revenue typically falls in H2; Q2 seasonally soft and H2 customer sentiment and demand expected to improve.

Earlier

• Results for April to June 2026: Revenue up 1.7% and profit up 5.7% on a year earlier.

Ajax Engineering has paid no dividend on the NSE since its first NSE close in our records (21 February 2025), the start of the period we checked.

Not in its latest year. Ajax Engineering Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 7 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 6 August 2026, Ajax Engineering's management guided: Nearly 60% of revenue typically falls in H2; Q2 seasonally soft and H2 customer sentiment and demand expected to improve.

“A 12.5% margin looks challenging at this point in time from a second-quarter perspective. As we move into the third quarter, and hopefully as volumes improve, some of that will start playing out, and we will return to the corridor of about 12-12.5%.”Shubhabrata Saha, on the call for April to June 2026

What management guided

• Operating margin: Q2 at 12-12.5% described as challenging; Q3 return to 12-12.5% as volumes improve; longer-term 12-15% corridor.
• Non-SLCM growth planned at 10-15% on a year earlier from the low base, with H2 better than H1 and B2B efforts contributing over the next 2 or 3 quarters.
• Export business expected to grow at a 30% yearly growth or more over the next 3 years through distribution, product availability and additional variants.
• Another calibrated price increase to be initiated within the current quarter; timing and quantum depend on the market environment.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 6 August 2026.

When Ajax Engineering reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Q2 operating margin to test management's challenged corridor; check whether fuel and steel pressure, pricing and operating leverage move margins as indicated.

Ajax Engineering is not on any of our India lists this week.

Ajax Engineering Ltd earned ₹56.0 Cr of net profit in the Jun 2026 quarter, +5.7% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹225 Cr. Over 6 years profit has grown 14.5% a year on average. That is 11.8% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹53.0 Cr.

For the full year, FY26 profit was ₹225 Cr (−13.5% on the year before).

Why profit moved: revenue changed +1.7% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −4.8% and revenue +7.2%. Profit is growing slower than sales: rising costs are taking part of the growth.

Ajax Engineering Ltd reported ₹475 Cr of revenue in the Jun 2026 quarter, +1.7% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 6 years it has grown 19.1% a year on average. The last full year, FY26, came in at ₹2,103 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹2,112 Cr.

FY26 revenue was ₹2,103 Cr, +1.4% on the year before.

Recent pace: the last four quarters grew +7.2% on average, against 19.1% a year over the longer run, so this year is growing slower than its own long-run rate.

Ajax Engineering Ltd's operating margin was 12.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 7 years it has been between 12.0% and 18.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −0.7 percentage points on the year while gross margin changed +0.4 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 88% of Ajax Engineering Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹377 Cr of operating cash against ₹225 Cr of profit. After ₹30.0 Cr of spending on assets, ₹347 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 88% of profit came in as cash: the cash cycle got 103 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.4× depreciation over three years. The next section checks what that spending is building.

Ajax Engineering Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 12 days in FY26, down from 115 days in FY21. It spent ₹75.0 Cr on assets over the last 3 years. Customers take 31 days to pay, and stock sits for 38 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,103 Cr, each day of that cycle ties up about ₹5.8 Cr, so roughly ₹69.0 Cr is tied up in the business at any time.

FY26: customers took 31 days to pay and stock sat for 38 days, about 1.3 months of sales sitting as stock, for a full cycle of 12 days, shorter than FY21's 115.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 38 days. Customers pay about 31 days after that. Suppliers are paid at 57 days. Together that makes the 12-day cycle.

Spending on assets: ₹75.0 Cr over the last 3 years, against ₹31.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹35.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Ajax Engineering Ltd's P/E is 27.8×, in the middle of its own history: higher than 36% of past readings. Its usual P/E (the middle reading) is 28.8×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹19.92.

Why the multiple is where it is: over the past year earnings per share moved −13.4% while the price moved −5.8%. The price did better than earnings, which pushed the multiple up within its own range.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

Ajax Engineering Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 8 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Ajax Engineering Ltd earned a ROCE of 24% in FY26. That is up from a low of 17% in FY22. Its return on capital used (ROIC) is 43.2 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 10.7% net margin and 1.20× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 10.7% net margin × 1.20× asset turnover × 1.26× leverage (assets divided by equity) ≈ 16.2% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 55.2% − 12.0% = +43.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value.

The 55.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 47.3%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Ajax Engineering Ltd has total debt of ₹2.0 Cr against shareholder equity of ₹1,392 Cr as of Jun 2026, so its debt is 0.00× its equity, which is very little. Year by year, that ratio went from 0.01 in FY24 to 0.00 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions raised their stake in Ajax Engineering Ltd by 3.3 percentage points over 6 quarters, the biggest change among its owners. Domestic institutions now own 11.2% of the company. Foreign institutions moved −1.9 points over the same period, to 4.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +3.3 points over 6 quarters, to 11.2%; Foreign institutions: −1.9 points over 6 quarters, to 4.1%; Promoters: +0.0 points over 6 quarters, to 80.0%.

Why the owners changed: foreign institutions moved −1.9 points and domestic institutions +3.3 points over 6 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company.

For Ajax Engineering Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

47.7 out of 100, rank 3 of 4 in Capital Goods - EPC/Cranes, with 75% of the evidence available.

Ajax Engineering Ltd scores 47.7 out of 100 against the 4 companies it is compared with in Capital Goods - EPC/Cranes, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 5.1 + 19.9 + 11.7 + 11 = 47.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Ajax Engineering ranks 3 of 4 Capital Goods - EPC/Cranes companies on the 4-Factor Sector Score, with 47.7 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Capital Goods - EPC/Cranes, all 4 compared on one page.

Ajax Engineering is the 2nd largest of 4 Capital Goods - EPC/Cranes companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Action Construction Equipment. Just below it: Sanghvi Movers and TIL.

Capital Goods - EPC/Cranes companies close in size

1. Action Construction Equipment Ltd ₹11,845 crore
2. Ajax Engineering Ltd ₹6,127 crore
3. Sanghvi Movers Ltd ₹3,171 crore
4. TIL Ltd ₹1,667 crore

All 4 Capital Goods - EPC/Cranes companies, largest first

Companies close in size in other industries

763. Le Travenues Technology Ltd ₹6,138 crore · E-Commerce - Platform - Travel
764. Equitas Small Finance Bank Ltd ₹6,131 crore · Banks - Small Finance
765. Ajax Engineering Ltd ₹6,127 crore
766. Dilip Buildcon Ltd ₹6,105 crore · EPC
767. Borosil Renewables Ltd ₹6,087 crore · Glass & Glass Products

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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