AJAXENGG

- Ajax Engineering Limited has informed the stock exchanges about the audio recording of the conference call held with analysts and investors on November 6, 2026. - The recording has been made available on the company's website under the investor relations section.

- Q2 FY27 revenue rose 9.5% YoY to ₹4,870 Mn; EBITDA grew 13.7% to ₹515 Mn. - PAT surged 30.4% YoY to ₹509 Mn with margin expanding 170 bps to 10.5%. - SLCM retail market share increased to 75.5% in H1 FY27 (+480 bps YoY). - Cash balance stood at ₹11,511 Mn; demand momentum expected to improve in H2.

Current scenario: Near-term challenges include lower state infrastructure spending and delayed contractor payments, impacting project execution and equipment demand. Raw material costs rose by mid-single-digits due to steel and crude-linked commodity price increases. Changes in trends: SLCM retail market share expanded by ~480 bps to 75.5% in H1 FY27. Non-SLCM revenue grew by 31.5% in H1, and export revenue increased by 48% YoY. Management Guidance & Outlook: Customer sentiment and demand momentum are expected to improve in the second half of the year. Company maintains a cash balance of ₹1,151 crores for future growth and strategic inorganic opportunities. Capex: Continued focus on disciplined capital allocation and working capital management. Growth Drivers: Expanding SLCM applications in the private sector, accelerating UDAAN adoption, scaling Non-SLCM businesses like Batching Plants and Pumps, and driving export growth in Africa and Southeast Asia.

Q2 FY27 Standalone Revenue ₹437.44Cr vs ₹431.04Cr (▲1.5% YoY) EBITDA ₹67.82Cr vs ₹61.29Cr (▲10.6% YoY) PAT ₹61.62Cr vs ₹52.70Cr (▲16.9% YoY) EBITDA Margin 15.50% vs 14.22% (▲128bps)

Concall Schedule Concall Date: 17th November 2026 Concall Time: 11:00 AM (IST) Onwards

Concall Schedule Concall Date: 18th November 2026 Concall Time: 10:00 AM (IST) Onwards

Concall Schedule Concall Date: Friday, 06th November 2026 Concall Time: 02:30 PM IST

- Trading window closed from October 01, 2026 for Designated Persons and connected persons. - Closure relates to consideration of unaudited financial results for the quarter ended September 30, 2026. - Window reopens 48 hours after the Board Meeting declaration.

Concall Schedule Concall Date: 29th September 2026 Concall Time: 10:00 AM (IST) Onwards

- Board of Directors of Ajax Engineering Limited appointed Mr. Shishir Joshipura as an Additional Director (Non-executive and Independent Director) on September 17, 2026. - The appointment is subject to the approval of the shareholders. - Mr. Joshipura brings over 42 years of experience in engineering, manufacturing, and capital goods.

- Board of Directors meeting on September 17, 2026, approved the appointment of Mr. Shishir Joshipura (DIN: 00574970) as an Additional Director (Non-executive and Independent Director), subject to shareholder approval. He is a senior business leader with over 42 years of experience.

- Mr. Ketan Pendse has resigned as Chief Financial Officer and Key Managerial Personnel of Ajax Engineering Limited. - The resignation is effective from the close of business hours on September 7, 2026, due to personal reasons.

- Allotment of 4,516 Equity Shares of ₹1/- each to an eligible employee under the Employee Stock Option Plan 2024. The paid-up share capital increased from 11,44,06,800 to 11,44,11,316 Equity Shares.

- Q1 FY27 saw modest total revenue growth of 1.7% YoY to ₹475 Cr, with EBITDA declining by 3.3% YoY to ₹59 Cr, and EBITDA margin contracting by 70 bps to 12.5%.- Management anticipates Q2 FY27 to be seasonally soft, with customer sentiment and demand expected to improve in H2 FY27.- The company projects a 30% CAGR growth over the next three years and targets 13-15% EBITDA margins in the long term, once demand recovers.- Q2 FY27 EBITDA margin is expected to be challenging, with management stating that achieving 12-12.5% will be difficult for the quarter.- SLCM market share expanded to 75.1% in Q1 FY27 (from 69% in Q1 FY26), despite an industry registration decline of 27%.- Key growth drivers include the non-SLCM business (expected 10-15% YoY growth, with new ARGO 4000 launch in Q2 FY27), UDAAN series traction, and exports (contributing 9% to Q1 revenue).

- The company announced the voting results of the postal ballot for the appointment of Mr. Sachin Rajkumar Nandgaonkar (DIN: 03410739) as a Non-Executive Nominee Director. - The Ordinary Resolution was passed with the requisite majority of 99.8496% votes in favour. - The remote e-voting process concluded on August 07, 2026.

- Audio recording of the conference call with Analysts/Investors held on August 6, 2026, at 11:00 A.M. (IST) has been uploaded. - The recording is accessible on the company's investor relations website.

- Consolidated Revenue ₹474.60 Cr vs ₹466.52 Cr (▲1.73% YoY) - EBITDA ₹59.14 Cr vs ₹61.39 Cr (▼3.67% YoY) - PAT ₹55.60 Cr vs ₹52.88 Cr (▲5.14% YoY) - EBITDA Margin 12.46% vs 13.16% (▼70bps) - Mr. A. N. Sriram was appointed as the Cost Auditor for the financial year 2026-27.

- Consolidated Revenue ₹4,745.97 million vs ₹4,665.15 million (▲1.73% YoY) - EBITDA ₹591.41 million vs ₹613.90 million (▼3.66% YoY) - PAT ₹556.02 million vs ₹528.75 million (▲5.16% YoY) - EBITDA Margin 12.46% vs 13.16% (▼70bps) - The Board also appointed Mr. A. N. Sriram as the Cost Auditor for FY 2026-27.