Slide 1: Exchange filing cover letter
REGISTERED OFFICE: AJAX ENGINEERING LIMITED (formerly known as Ajax Engineering Private Limited) CIN: L28245KA1992PLC013306 #253/1, 11 Main, Phase III, Peenya Industrial Area, Bengaluru – 560 058, Karnataka, India. T: +91 80 67200082/83 Toll Free No.: 1-800-419-0628 E: customercare@ajax-engg.com www
Slide 2: Ajax Engineering Limited Investor Presentation – February 2026
Ajax Engineering Limited Investor Presentation – February 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ajax Engineering Limited (the “Company” / “Ajax”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe fo
Slide 4: Financial & Operational Highlights Q3 and 9M FY26
Financial & Operational Highlights Q3 and 9M FY26
Slide 5: Performance Summary and Outlook
Performance Summary and Outlook Reflecting on the Q3 and 9M FY26 performance, Mr. Shubhabrata Saha, Managing Director & Chief Executive Officer of Ajax Engineering, said: “After a steady performance last year, the last few quarters have been a period of challenges and transition. Extended monsoon, c
Slide 6: Financial Highlights – Q3 & 9M FY26
Financial Highlights – Q3 & 9M FY26 Revenue (₹ Mn) Adjusted EBITDA (₹ Mn) 1 PAT (₹ Mn) • Profitability impacted by increased cost of production of new CEV-5 machines, product mix change, and +2% -26% -23% one-time marketing & promotion 13,182 13,449 2,073 1,691 expenses in Q3 and 9M FY26. 1,544 1,30
Slide 7: Segmental and Operational Highlights – Q3 & 9M FY26
Segmental and Operational Highlights – Q3 & 9M FY26 Revenue 83% 82% 86% 80% 9% 10% 8% 11% 7% 8% 6% 9% Mix (%) SLCM (₹ Mn) Non-SLCM (₹ Mn) Spares & Services (₹ Mn) +1% +4% +14% Segment-wise Revenue 10,979 11,051 1,225 1,280 1,118 978 (₹ Mn) -26% +13% +11% 4,705 493 3,465 436 341 378 9M FY25 9M FY26 Q
Slide 8: Profit & Loss Statement – Q3 & 9M FY26
Profit & Loss Statement – Q3 & 9M FY26 Profit & Loss Statement (₹ Mn) 9M FY26 9M FY25 Y-o-Y Q3 FY26 Q3 FY25 Y-o-Y - SLCM 11,051 10,979 0.6% 3,465 4,705 -26.4% - Non-SLCM 1,280 1,225 4.5% 493 436 13.0% - Spares & Services 1,118 978 14.4% 378 341 11.0% Total Revenue from Operations 13,449 13,182 2.0%
Slide 9: Strong Return Ratios Track Record
Strong Return Ratios Track Record Return on Assets (1) Return on Capital Employed (2) 18.2% 17.5% 32.8% 30.2% 14.1% 25.3% 16.6% 29.4% FY23 FY24 FY25 FY23 FY24 FY25 Return on Equity (3) Return on Invested Capital 24.5% 97.9% 22.5% 19.0% 61.5% 60.3% 22.0% 73.2% FY23 FY24 FY25 FY23 FY24 FY25 3-year Ave
Slide 10: Overview of Ajax Engineering
Overview of Ajax Engineering
Slide 11: About Ajax Engineering
About Ajax Engineering 1 2 3 4 5 ~73% 12% 32.9k 200+ 20% Market Share in Concrete Production in India Concrete Equipment Concrete Equipment Share in concrete equipment Indian SLCM Market (1) through Ajax SLCMs (2) Sold in Last 10 Years (3) Variants (4) market vs. 14% in FY22 (2) Lean Assembly Market
Slide 12: Comprehensive Product Portfolio with wide range of applications
Comprehensive Product Portfolio with wide range of applications Production Transportation Placement Paving Printing SLCM | Batching Plant Transit Mixer Self-Propelled Boom Pump Concrete Slip-Form Paver 3D Concrete Printer Application across Infrastructure & Real Estate Projects Roadways Waterways Ir
Slide 13: Integrated Platform across the Value Chain
Integrated Platform across the Value Chain Core Ethos Design, Develop and Engineer Innovative and High-quality Concrete Equipment Distribution and After-Sales Support Design and Engineering ✓ Large dealer network with 130 customer touchpoints ✓ 68 employees in Designing, Engineering and Development
Slide 14: Market Leadership in SLCM segment
Market Leadership in SLCM segment Market Leader in SLCM Increasing Share in Mechanised in India (by volume in FY25) Concrete Equipment Market Leadership Highlights 25.0% 86% 80% ✓ Pioneer of SLCMs in India in 1992 | Leader in Indian SLCM market (1) Market Share Highest SLCM resale value (2) driven b
Slide 15: Long Standing Diverse Customer Base
Long Standing Diverse Customer Base Serving Diverse Range of End Customers Individual Small and Mid-sized Rental Large Construction Govt. Construction Contractors Contracting Firms Companies Companies Agencies Customer Base grew at 23% CAGR (in ‘000s) ✓ No customer concentration risk 21 +23% 16 ✓ Lo
Slide 16: Tech-led Assembly and Manufacturing Facilities
Tech-led Assembly and Manufacturing Facilities Existing Upcoming Location Bashettihalli Gowribidanur Obadenahalli Adinarayanahosahalli Among the largest SLCM Facilities Globally Year Established 1992 2014 2018 SLCM | Concrete Pump | Batching Plants | Fungible capabilities to Products Manufactured SL
Slide 17: R&D-driven Products Address Diverse Customer Requirements
R&D-driven Products Address Diverse Customer Requirements Key Features Across Select Product Categories SLCMs Batching Plants Boom Pumps Slip Form Pavers SCADA-based Load Cell Weighing System Hoppers and S-valves Oscillation Correction Beams Control Panel Planetary Reversible Pre-Programmed Steering
Slide 18: Our Innovations Track Record
Our Innovations Track Record Recent innovations Only Indian company to have developed a Slip-Form Paver entirely in house in 2019. Self-Loading Concrete Machine with Load Cell ✓ Ensures quality assurance in concrete production. ✓ Recognized by Legal Metrology Department of the Government of India. ✓
Slide 19: Strong Market Reach with a Large Dealer Network
Strong Market Reach with a Large Dealer Network Pan-India Dealer Network… ✓ All dealers are exclusive to Ajax in the concrete equipment market Headquarters Srinagar Jammu Headquarters & Mandi Branches with Service Center ✓ Dealer Support | Training, financing assistance, sales incentives Dehradun Br
Slide 20: Driving Growth through Strategies
Driving Growth through Strategies Maintain leadership position and grow market Improving operational Explore opportunities for share of SLCM portfolio efficiencies inorganic growth Strengthen capabilities and Increase presence in increase market share of overseas markets through non-SLCM portfolio e
Slide 21: Experienced Board of Directors
Experienced Board of Directors Krishnaswamy Vijay Jacob Jiten John Executive Chairman & Whole Time Director Whole Time Director University of Rhode Island | University of Tractors Engineer | Larsen & Toubro Houston | Oracle | OxyLink D. P. Achutarao Independent Director Jayashree Satagopan Raghavan
Slide 22: Professional Management Team
Professional Management Team Ganesh B. J. Shubhabrata Saha Interim Chief Financial Officer Managing Director & Chief Executive Officer Ernst & Young | Coffee Day Global | Medlife | Unacademy | Mahindra & Mahindra | Mangalore Chemicals & Fertilizers Phone Pe Anshul Joshi Joseph Peeris Shruti Vishwana
Slide 23: Ajax in a nutshell…
Ajax in a nutshell… ✓ Market leadership in a large and fast-growing SLCM market Market ✓ Concrete equipment, services and solutions across concrete application value chain Leadership 01 02 ✓ Large dealer network with widespread distribution model ✓ Diversified customer base with longstanding relatio
Slide 24: Industry Overview
Industry Overview
Slide 25: Cement and Concrete critical to India's development
Cement and Concrete critical to India’s development Cement Consumption in India (mn tons p.a.) Per Capita Cement Consumption in CY23 (kg) +8% 595 470-520 405 325 260 India’s Mechanised Concrete Equipment Industry expected to grow at 24% over FY24-29E FY19 FY24 FY29E India Global Average (` Bn) From
Slide 26: Mechanized Concrete Equipment expected to outperform Manual Mixers
Mechanized Concrete Equipment expected to outperform Manual Mixers Mechanized Concrete Equipment is projected to outperform Manual Mixers with penetration increasing to ~41% of domestic concrete consumption and ~28% of concrete equipment sales volume by FY29. 1,083 1,351 1,985 CAGR CAGR 1,07,613 1,4
Slide 27: Historical Financial Highlights
Historical Financial Highlights
Slide 28: Historical Financial Highlights
Historical Financial Highlights Revenue from Operations (₹ Mn) EBITDA (₹ Mn) PAT (₹ Mn) +40% +52% +58% 20,739 3,181 2,601 17,414 2,755 2,251 11,511 1,707 1,359 7,633 905 662 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gross Margin (%) EBITDA Margin (%) PAT Margin (%) 28.2% 28.1% 26.7
Slide 29: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (₹ Mn) FY25 FY24 FY23 FY22 CAGR (FY 22-25) Revenue from Operations - SLCM 17,532 14,825 9,562 5,911 44% - Non-SLCM 1,813 1,541 1,079 995 22% - Spares & Services 1,395 1,048 871 727 24% Total Revenue from Operations 20,739 17,414 11,511 7,633
Slide 30: Historical Balance Sheet
Historical Balance Sheet ASSETS (₹ Mn) Mar-25 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES (₹ Mn) Mar-25 Mar-24 Mar-23 Mar-22 Non-Current Assets Equity - Property, Plant and Equipment 1,258 1,157 1,142 1,050 - Equity Share Capital 114 114 114 29 - Capital Work-in-Progress 206 173 56 73 - Other Equity
Slide 31: Historical Abridged Cash Flow Statement
Historical Abridged Cash Flow Statement Cash Flow Statement (₹ Mn) FY25 FY24 FY23 FY22 Profit/(Loss) Before Tax 3,509 3,019 1,829 904 Adjustments for Non-Cash and Non-Operational Expenses / (Incomes) (68) (85) 30 96 Operating Profit / (Loss) Before Working Capital Changes 3,441 2,935 1,859 1,000 Cha
Slide 32: Historical Return Ratios
Historical Return Ratios Return on Assets (1) Return on Capital Employed (2) 18.2% 17.5% 32.8% 30.2% 14.1% 25.3% 9.0% 15.5% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Return on Equity (3) Return on Invested Capital (4) 24.5% 97.9% 22.5% 19.0% 61.5% 60.3% 11.5% 24.7% FY22 FY23 FY24 FY25 FY22 FY23 FY24 F
Slide 33: Thank You
Thank You Company: Ajax Engineering Limited Investor Relations: Strategic Growth Advisors Pvt. Ltd. www.sgapl.net CIN: L28245KA1992PLC013306 www.sgapl.net CIN: U74140MH2010PTC204285 Ms. Shruti Shetty – Company Secretary & Compliance Officer Email: complianceofficer@ajax-engg.com Mr. Sagar Shroff / M