Slide 1: Analysts/Investors' Presentation filing 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 – August 2025
Ajax Engineering Limited Investor Presentation – August 2025
Slide 3: Q1 FY26 Financial & Operational Highlights
Q1 FY26 Financial & Operational Highlights
Slide 4: Management Commentary
Management Commentary Reflecting on the performance, Mr. Shubhabrata Saha, Managing Director & CEO of Ajax Engineering, said: “After a strong performance last year, the current quarter has been one period of challenges and transition. Unseasonal rains, change in the emission norms, and a slower pace
Slide 5: Financial Highlights – Q1 FY26
Financial Highlights – Q1 FY26 Revenue from Operations (` Mn) EBITDA (` Mn) PAT (` Mn) -1% -23% -21% 4,690 4,665 802 670 614 529 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Gross Margin (%) EBITDA Margin (%) PAT Margin (%) -450 bps -390 bps -300 bps 30.3% 17.1% 14.3% 25.8% 11.3% 13.2% Q1FY25 Q1FY26 Q1
Slide 6: Segment-wise Revenue
Financial and Operational Highlights – Q1 FY26 Revenue 82.4% 82.5% 10.3% 9.6% 7.3% 7.9% Mix (%) SLCM (` Mn) Non-SLCM (` Mn) Spares & Others (` Mn) -0% +8% -8% Segment-wise Revenue 3,863 3,848 485 369 448 342 (` Mn) Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 +3% Q1FY25 Q1FY26 1,315 1,349 Geographic Re
Slide 7: Profit & Loss Statement – Q1 FY26
Profit & Loss Statement – Q1 FY26 Profit & Loss Statement (` Mn) Q1FY26 Q1FY25 Y-o-Y FY25 FY24 Y-o-Y Revenue from Operations - SLCM 3,848 3,863 -0.4% 17,532 14,825 18.3% - Non-SLCM 448 485 -7.6% 1,813 1,541 17.7% - Spares & Services 369 342 7.9% 1,395 1,048 33.0% Total Revenue from Operations 4,665
Slide 8: Overview of Ajax Engineering
Overview of Ajax Engineering
Slide 9: About Ajax Engineering
About Ajax Engineering 1 2 3 4 5 ~69% 12% 32.9k 164 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 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 114 customer touchpoints ✓ 71 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 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 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 at 23% CAGR (in ‘000s) ✓ No customer concentration risk 21 +23% 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 Tuhin Basu Managing Director & Chief Executive Director Chief Financial Officer Anshul Joshi Mahindra & Mahindra | Mangalore Chemicals & Fertilizers Siemens | BSR & Co.| Reliance Industries | Chief Planning & Strategy Officer Reliance Power Electronics M
Slide 21: 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 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 (` Bn) From
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. 1,083 1,351 1,985 CAGR CAGR 1,07,613 1,4
Slide 25: Historical Financial Highlights
Historical Financial Highlights
Slide 26: 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 27: 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 28: 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 29: 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 30: 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) Working Capital Days (4) 24.5% 93 22.5% 19.0% 49 11.5% 30 24 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Note: (1) Calc
Slide 31: 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 Mr. Tuhin Basu – Chief Financial Officer Email: complianceofficer@ajax-engg.com Mr. Sagar Shroff / Mr. Tanay Shah saga