Ajax Engineering share price up nearly 3% as Q3 net profit rises 26% to ₹681 crore

At 10:11 am, the stock was up 0.50% to ₹605.35 per share on the NSE. Its market capitalisation stood at ₹6,925.62 crore.

On the BSE, it gained 0.59% to ₹604.85 per unit.

Ajax Engineering Q3 results

Ajax Engineering posted a 26.3% increase in its net profit to ₹681.26 crore in the latest December quarter, compared to ₹539.38 crore in the corresponding period last fiscal.

Revenue from operations increased 37.26% to 5,481.78 crore in the third quarter of the financial year 2024-25 as against ₹3,993.45 crore in the year-ago quarter.

Its total expenses stood at ₹4,635.07 crore in the quarter under review, up 38.15% from ₹3,355 crore in Q3 FY24.

The company also informed that Parin Nalin Mehta has tendered his resignation as non-executive director with effect from close of business hours of March 9, 2025, due to pre-occupations.

Ajax Engineering shares made their market debut on February 17. The stock listed at ₹576, a discount of 8.4% to issue price of ₹629 on the NSE.

The scrip is presently up 5.22% from the listing price.

The initial share sale got bids for 9,12,11,951 shares compared to 1,41,49,997 shares on offer, leading to a 6.45-times subscription. Qualified institutional buyers (QIBs) subscribed to their portion 14.41 times, while the non-institutional investors (NIIs) portion were booked 6.47 times. Retail investors had subscribed 1.93 times.

Ajax Engineering is engaged in the manufacturing of concrete equipment and provides an array of related equipment, services, and solutions for the concrete application value chain.