Ajax Engineering reported Q1 FY26 financial results, with revenue at ₹466 Cr and PAT at ₹53 Cr.

Margins were impacted by the full transition to CEV-5 compliant products and muted industry demand.

Despite this, non-SLCM volumes grew 25% YoY, and SLCM revenue was stable at ₹385 Cr.

The company remains debt-free with healthy cash.

Future momentum is expected from H2 FY26, driven by the new Adinarayanahosahalli plant commissioning and expanded B2B presence in top metros.