Ajax Engineering Ltd. IPO

Since our inception 32 years ago, we have developed a product portfolio that includes equipment such as self-loading concrete mixers and batching plants for the production of concrete, transit mixers for the transportation of concrete, boom pumps, concrete pumps and self-propelled boom pumps for ... the placement of concrete, slip-form pavers for the paving of concrete and 3D concrete printers for depositing concrete. We also continue to assist customers throughout the life of the equipment, and with that aim, we provide spare parts of the equipment sold by us and facilitate the provision of after-sales service by our dealers. Our equipment is sold through our dealers in and outside India to a diverse range of customers, including individual contractors, small and mid-sized contracting companies, rental companies, large construction companies and government construction agencies. As of September 30, 2024, our dealer network comprised of 51 dealerships across 23 states in India, and we are accessible to our customers through 114 touchpoints, which comprise 51 dealer headquarters and 63 branches (of which, 34 also act as service centers) managed and operated by our dealers. Our revenue from operations for the six months period ended September 30, 2024 and September 30, 2023 and the Financial Years 2024, 2023 and 2022 was ?7,699.85 million, ?6,848.59 million, ?17,414.03 million, ?11,511.28 million and ?7,632.89 million, respectively. Of this, 81.48%, 81.71%, 85.13%, 83.06%, and 77.44% for the respective periods/years were generated from the sale of SLCMs. Read more

In India, concrete equipment, particularly self-loading concrete mixers (“SLCMs”), plays an essential role in supporting the growing demand for infrastructure and construction projects. Other concrete equipment manufacturers include local companies such as Aquarius Engineers Private ... Limited and subsidiaries of international companies such as Fiori Concrete Machines India Private Limited, KYB-Conmat Private Limited, Putzmeister India Private Limited, Schwing Stetter (India) Private Limited, among others (Source: Redseer Report). Infrastructure development is projected to propel the demand for mechanized concrete equipment in India and grow the industry from ?61 billion (US$731 million) for Financial Year 2024 to ?178 billion (US$2,148 million) for Financial Year 2029 (Source: Redseer Report). The concrete equipment market in India, and in particular, the market for SLCMs, is experiencing significant growth on account of several factors, including an increase in cement consumption and an increase in public and private capital expenditure towards infrastructure, irrigation, housing and renewable power projects, leading to increased demand for construction materials and equipment (Source: Redseer Report). Read more