Ajax Engineering Ltd. · NSE:AJAXENGG
Ajax Engineering — Investor Presentation (May 2025)
33 slides from Ajax Engineering's investor presentation, May 27, 2025
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 – May 2025
Ajax Engineering Limited Investor Presentation – May 2025
Slide 3: Q4 & FY25 Operational & Financials Highlights
Q4 & FY25 Operational & Financials Highlights
Slide 4: Management Commentary
Management Commentary Reflecting on the performance, Mr. Shubhabrata Saha, Managing Director & CEO of Ajax Engineering, said: “Having been in the Concrete Equipment industry for over three decades, Ajax has ridden over multiple cycles and challenges in the past with great resilience and has delivere
Slide 5: Financial Highlights – Q4 & FY25
Financial Highlights – Q4 & FY25 Revenue from Operations (INR Mn) EBITDA (INR Mn) PAT (INR Mn) +19% +15% +16% 20,739 3,181 2,601 17,414 2,755 2,251 +15% +1% +3% 6,572 7,558 1,092 1,108 883 909 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 Gross Margin (%) EBITDA Margin (%)
Slide 6: Operational Highlights – Q4 & FY25
Operational Highlights – Q4 & FY25 85.1% 84.5% 88.1% 86.7% 8.8% 8.7% 8.0% 7.8% 6.0% 6.7% 3.9% 5.5% Revenue Mix (%) SLCM (INR Mn) Non-SLCM (INR Mn) Spares & Others (INR Mn) +18% +18% +33% 17,532 1,813 1,395 14,825 1,541 Revenue Split 1,048 (INR Mn) +13% +12% +62% 5,790 6,552 588 525 417 257 FY24 FY25
Slide 7: Profit & Loss Statement – Q4 & FY25
Profit & Loss Statement – Q4 & FY25 Profit & Loss Statement (INR Mn) Q4FY25 Q4FY24 Y-o-Y FY25 FY24 Y-o-Y Revenue from Operations - SLCM 6,552 5,790 13.2% 17,532 14,825 18.3% - Non-SLCM 588 525 12.1% 1,813 1,541 17.7% - Spares & Services 417 257 62.1% 1,395 1,048 33.0% Total Revenue from Operations 7
Slide 8: Balance Sheet
Balance Sheet ASSETS (INR Mn) Mar-25 Mar-24 EQUITY AND LIABILITIES (INR Mn) Mar-25 Mar-24 Non-Current Assets Equity - Property, Plant and Equipment 1,258 1,157 - Equity Share Capital 114 114 - Capital Work-in-Progress 206 173 - Other Equity 11,457 9,065 - Intangible Assets 12 19 Total Equity 11,571
Slide 9: Abridged Cash Flow Statement
Abridged Cash Flow Statement Cash Flow Statement (INR Mn) FY25 FY24 Profit/(Loss) Before Tax 3,509 3,019 Adjustments for Non-Cash and Non-Operational Expenses / (Incomes) (68) (85) Operating Profit / (Loss) Before Working Capital Changes 3,441 2,935 Changes in Working Capital (2,133) (115) Cash gene
Slide 10: Overview of Ajax Engineering
Overview of Ajax Engineering
Slide 11: About Ajax Engineering
About Ajax Engineering 1 2 3 4 5 ~75% 12% 32.9k 141+ 20% Market Share in Concrete Production in Concrete Equipment Concrete Equipment Share in concrete equipment Indian SLCM Market (1) India through Ajax SLCMs Sold in Last 10 Years Variants (3) market vs. 14% in FY22 (2) Lean Assembly Market & Manuf
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 111 customer touchpoints ✓ 70 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 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 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 (INR Bn) Fro
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. CAGR CAGR 59% 75% 72% 84% 83% 89% 24% 14
Slide 27: Annexures
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Slide 28: Historical Financial Highlights
Historical Financial Highlights Revenue from Operations (INR Mn) EBITDA (INR Mn) PAT (INR 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
Slide 29: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (INR Mn) FY25 FY24 FY23 FY22 CAGR (FY 22-25) Revenue from Operations - SLCM 17,532 14,825 9,562 5,911 - Non-SLCM 1,813 1,541 1,079 995 - Spares & Services 1,395 1,048 871 727 Total Revenue from Operations 20,739 17,414 11,511 7,633 40% Raw M
Slide 30: Historical Balance Sheet
Historical Balance Sheet ASSETS (INR Mn) Mar-25 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES (INR 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 Eq
Slide 31: Historical Abridged Cash Flow Statement
Historical Abridged Cash Flow Statement Cash Flow Statement (INR 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 C
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) 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 33: 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