Ajax Engineering Ltd. · NSE:AJAXENGG
Ajax Engineering — Q3 FY2025 Earnings Presentation
31 slides from Ajax Engineering's earnings presentation, Mar 10, 2025
Slide 1: Analysts/Investors' Presentation filing cover letter
REGISTERED OFFICE: AJAX ENGINEERING LIMITED (formerly known as Ajax Engineering Private Limited) CIN: U28245KA1992PLC013306 #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 – March 2025
Ajax Engineering Limited Investor Presentation – March 2025
Slide 3: Q3 & 9MFY25 Operational & Financials Highlights
Q3 & 9MFY25 Operational & Financials Highlights
Slide 4: Management Commentary
Management Commentary Commenting on the performance, Mr. Shubhabrata Saha, Managing Director & CEO of Ajax Engineering, said: “We have delivered a healthy performance in Q3FY25, with strong growth across our SLCM and Non-SLCM verticals. Our YTD FY25 EBIDTA and Gross Margin % are in line with our exp
Slide 5: Financial Highlights – Q3 & 9MFY25
Financial Highlights – Q3 & 9MFY25 Revenue (INR Mn) EBITDA (INR Mn) PAT (INR Mn) +22% +25% +24% 13,182 2,073 1,691 10,842 1,663 1,369 +37% +32% +26% 5,482 881 681 3,993 668 539 9MFY24 9MFY25 Q3FY24 Q3FY25 9MFY24 9MFY25 Q3FY24 Q3FY25 9MFY24 9MFY25 Q3FY24 Q3FY25 Gross Margin (%) EBITDA Margin (%) PAT
Slide 6: Operational Highlights – Q3 & 9MFY25
Operational Highlights – Q3 & 9MFY25 83.3% 83.3% 86.1% 85.8% 9.4% 9.3% 6.4% 8.0% 7.3% 7.4% 7.5% 6.2% Revenue Mix (%) SLCM (INR Mn) Non-SLCM (INR Mn) Spares & Others (INR Mn) +22% +21% +24% 10,979 1,225 978 9,035 1,016 Revenue Split 791 (INR Mn) +37% +71% +14% 4,705 3,440 436 300 341 254 9MFY24 9MFY2
Slide 7: Profit & Loss Statement - Q3 & 9MFY25
Profit & Loss Statement - Q3 & 9MFY25 Profit & Loss Statement (INR Mn) Q3FY25 Q3FY24 Y-o-Y 9MFY25 9MFY24 Y-o-Y Revenue from Operations - SLCM 4,705 3,440 36.8% 10,979 9,035 21.5% - Non-SLCM 436 254 71.5% 1,225 1,016 20.6% - Spares & Services 341 300 13.6% 978 791 23.5% Total Revenue from Operations
Slide 8: Overview of Ajax Engineering
Overview of Ajax Engineering
Slide 9: About Ajax Engineering
About Ajax Engineering 1 2 3 4 5 ~75% 12% 29.8k+ 141+ 20% Market Share in Concrete Production in Concrete Equipment Concrete Equipment FY24 increased share in Indian SLCM Market (1) India through Ajax SLCMs Sold in Last 10 Years Variants concrete equipment market from 14% in FY22 Lean Assembly Marke
Slide 10: 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 11: 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 110+ customer touchpoints ✓ 79 employees in Designing, Engineering and Development
Slide 12: Market Leadership in SLCM segment
Market Leadership in SLCM segment Market Leader in SLCM Increasing Share in Mechanised in India (by volume in FY24) 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 13: 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 by 19% CAGR (in ‘000s) ✓ No customer concentration risk 19 +19% 16 ✓ Lo
Slide 14: 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 15: 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 16: 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 17: 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 18: 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 19: 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 20: Professional Management Team
Professional Management Team Shubhabrata Saha Gautam Eunny Joseph Peeris Managing Director and Chief Executive Officer Chief Marketing Officer Chief People Officer Mahindra & Mahindra | Mangalore Chemicals & Fertilisers Lafarge | Pidilite Industries Sterlite Industries | ELGI | Talwandi Sabo | Hindu
Slide 21: Key Takeaway's
Key Takeaway’s ✓ 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 relationship
Slide 22: Industry Overview
Industry Overview
Slide 23: 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 (INR Bn) Fro
Slide 24: 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. CAGR CAGR 59% 75% 72% 84% 83% 89% 24% 14
Slide 25: Historical Financials Highlights
Historical Financials Highlights
Slide 26: Historical Financial Highlights
Historical Financial Highlights Revenue (INR Mn) EBITDA (INR Mn) PAT (INR Mn) 17,414 2,755 2,251 +51% +75% +84% 11,511 1,707 1,359 7,633 905 662 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Gross Margin (%) EBITDA Margin (%) PAT Margin (%) * -150 bps +390 bps +420 bps 28.2% 28.1% 26.7% 15.8% 12.6% 1
Slide 27: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (INR Mn) 9MFY25 FY24 FY23 FY22 CAGR (FY22-24) Revenue from Operations - SLCM 10,979 14,825 9,562 5,911 58% - Non-SLCM 1,225 1,541 1,079 995 24% - Spares & Services 978 1,048 871 727 20% Total Revenue from Operations 13,182 17,414 11,511 7,63
Slide 28: Historical Balance Sheet
Historical Balance Sheet ASSETS Sep-24 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES Sep-24 Mar-24 Mar-23 Mar-22 Non-Current Assets Equity - Property, Plant and Equipment 1,150 1,157 1,142 1,050 - Equity Share Capital 114 114 114 29 - Capital Work-in-Progress 299 173 56 73 - Other Equity 9,844 9,065 7
Slide 29: Historical Abridged Cash Flow Statement
Historical Abridged Cash Flow Statement Cash Flow Statement (INR Mn) H1FY25 FY24 FY23 FY22 Profit/(Loss) Before Tax 1,371 3,019 1,829 904 Adjustments for Non-Cash and Non-Operational Expenses / (Incomes) -78 -85 30 96 Operating Profit / (Loss) Before Working Capital Changes 1,293 2,935 1,859 1,000 C
Slide 30: Healthy Return Ratios
Healthy Return Ratios Return on Assets (1) Return on Capital Employed (2) 18.2% 32.8% 14.1% 25.3% 9.0% 15.5% FY22 FY23 FY24 FY22 FY23 FY24 Return on Equity (3) Working Capital Days (4) 24.5% 93 19.0% 49 11.5% 24 FY22 FY23 FY24 FY22 FY23 FY24 Note: (1) Return on Assets is calculated as profit after t
Slide 31: Thank You
Thank You Company: Ajax Engineering Limited Investor Relations: Strategic Growth Advisors Pvt. Ltd. www.sgapl.net CIN: U28245KA1992PLC013306 www.sgapl.net CIN: U74140MH2010PTC204285 Mr. Tuhin Basu – Chief Financial Officer Email: complianceofficer@ajax-engg.com Mr. Sagar Shroff / Mr. Tanay Shah saga