AI Summary
✦ ClarthaAjax Engineering is an industrial equipment manufacturer serving construction and infrastructure markets in India and overseas. Self-loading concrete mixers drive its core business, supported by batching plants, concrete pumps, transit mixers, and specialized equipment. Its portfolio also includes boom pumps, slip-form pavers, 3D concrete printers, dumpers, and industrial mixers. Q1 FY27 commentary indicates profit increased despite lower revenue, suggesting near-term cost control partly offset weak demand. Revenue grew only 1.4% year-on-year, while profit declined 13.4%, and declining margins indicate earnings pressure. ROE is unavailable, limiting returns analysis; however, debt/equity of 0.13 makes Ajax deleveraged and reduces balance-sheet risk. At 28.9x earnings, valuation appears fair rather than discounted, but it does not offer a clear premium-growth profile. The key open question is whether infrastructure equipment demand can improve without further margin compression.
Price Forecast
Probabilistic Range
Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.
Revenue Forecast
₹ CrEPS Forecast
₹ / shareMulti-factor synthesis of 5 key dimensions
From 4 analysts
Fundamentals
Fundamentals institutional score is 56 using growth durability 56.3.
Valuation
Valuation institutional score is 87 using relative multiple z-scores where peer dispersion is available.
Analyst Consensus
Analyst View institutional score is 90 using mean target upside 26.1%; dispersion penalty 6.2; recommendation breadth from available consensus.
Technical Structure
Technicals institutional score is 74 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.
Market Sentiment
Recent news flow is balanced or not decisive enough to tilt the tape. Based on 1 recent ticker-linked news items.
Signal Summary
Market intelligence remains Neutral. valuation and analyst consensus provide support, while market sentiment remain considerations.
Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.
Key Data Points
Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.
Valuation Metrics
Trading 6.0% below historical median. Valuation is declining — currently in the strongly undervalued zone (z-score: -0.4). Confidence: 88%.
Live forward EPS implies next-12-month EPS of ₹29.35. Applying the stock's normalized valuation corridor produces a fair range of ₹822.68 to ₹976.77, with base value near ₹902.81 (+59.5% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹29.35
Forward P/E
19.3x
Base Fair Value
₹902.81
Fair Range
₹822.68 - ₹976.77
Upside To Base
+59.5%
Estimate Source
Live forward EPS
Growth Estimate
+5.2%
5Y Average
30.18
Current
28.91
Overvalued
33.28
Undervalued
28.03
5Y Average
21.41
Current
20.53
Overvalued
23.16
Undervalued
19.87
5Y Average
5.42
Current
4.65
Overvalued
6.23
Undervalued
4.60
Peers & Comparison
Sector: Industrials · Theme: Construction & Engineering
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
NCC LIMITED NCCConstruction & Engineering | +1.7% | 3.2% | 13.6x Undervalued | -56% vs avg | -34.9% |
AFCONS INFRASTRUCTURE LTD AFCONSConstruction & Engineering | -19.1% | 1.3% | 38.5x Premium | +24% vs avg | -35.5% |
AHLUWALIA CONT IND LTD AHLUCONTConstruction & Engineering | +8.8% | 5.8% | 20.9x Undervalued | -33% vs avg | -13.8% |
BALU FORGE INDUSTRIES LTD BALUFORGEConstruction & Engineering | -2.3% | 23.4% | 19.3x Undervalued | -38% vs avg | -20.5% |
CEMINDIA PROJECTS LIMITED CEMPROConstruction & Engineering | +7.0% | 5.9% | 36.2x Premium | +16% vs avg | +57.3% |
CEIGALL INDIA LIMITED CEIGALLConstruction & Engineering | +37.1% | 7.8% | 18.0x Undervalued | -42% vs avg | +35.9% |
G R INFRAPROJECTS LIMITED GRINFRAConstruction & Engineering | +40.1% | 11.0% | 9.5x Undervalued | -69% vs avg | -30.1% |
AXISCADES TECH LTD AXISCADESConstruction & Engineering | +1.5% | 6.2% | 92.7x Premium | +198% vs avg | +29.1% |
AJAX ENGINEERING LIMITED trades in line with peers (28.9x vs avg 31.1x), reflecting a fair valuation within the Construction & Engineering cohort. Peers include NCC LIMITED, AFCONS INFRASTRUCTURE LTD, AHLUWALIA CONT IND LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹475 CrJun 2026Latest net profit
₹56 CrJun 2026Latest EPS
₹4.86Jun 2026Net margin
12.0%Jun 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Jun 2026
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 399 | 657 | 469 | 301 | 548 | 756 | 467 | 445 | 434 | 758 | 475 |
| Expenses + | 333 | 548 | 389 | 262 | 460 | 645 | 405 | 400 | 389 | 643 | 415 |
| Operating Profit | 67 | 109 | 80 | 39 | 88 | 111 | 61 | 45 | 44 | 115 | 59 |
| OPM % | 17% | 17% | 17% | 13% | 16% | 15% | 13% | 10% | 10% | 15% | 12% |
| Other Income + | 9 | 13 | 13 | 11 | 7 | 12 | 13 | 10 | 10 | 13 | 18 |
| Interest | 0 | 1 | 0 | 1 | 1 | -2 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 3 |
| Profit before tax | 72 | 119 | 90 | 47 | 92 | 122 | 71 | 53 | 52 | 126 | 74 |
| Tax % | 26% | 26% | 25% | 28% | 26% | 26% | 25% | 26% | 26% | 25% | 25% |
| Net Profit + | 54 | 88 | 67 | 34 | 68 | 91 | 53 | 39 | 38 | 95 | 56 |
| EPS in Rs | 4.71 | 7.72 | 5.86 | 2.97 | 5.96 | 7.95 | 4.62 | 3.42 | 3.34 | 8.30 | 4.86 |
| Raw PDF |
All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).
Events Timeline
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Announcement under Regulation 30 (LODR)-Press Release / Media Release