Ajax Engineering IPO Details, Financials, Valuation & Peers
Explore Ajax Engineering IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Ajax Engineering Limited is a manufacturer of concrete equipment, offering a comprehensive range of products and services across the concrete application value chain. With over 32 years of experience, the company has developed a diverse portfolio of 141+ concrete equipment variants, including self-loading concrete mixers (SLCMs), batching plants, transit mixers, boom pumps, concrete pumps, slip-form pavers, and 3D concrete printers. As of September 30, 2024, Ajax has sold over 29,800 concrete equipment units in India, making a significant contribution to the country's infrastructure and construction sectors. Ajax is the dominant player in the self-loading concrete mixer (SLCM) segment, holding a market share of approximately 77% in India for the six-month period ending September 30, 2024. The company also maintains a strong presence in the non-SLCM equipment market, with a growing share in batching plants, transit mixers, and boom pumps.
Key Points:
- Market Leadership in SLCMs:
- Leading manufacturer of self-loading concrete mixers in India.
- 77% market share in SLCM sales during the six months ending September 30, 2024.
- 14% of India's concrete production in FY24 was processed through SLCMs.
- Product Portfolio:
- Comprehensive range of concrete production, transportation, and placement equipment.
- Strong growth in non-SLCM equipment, with a 25.90% CAGR between FY22 and September 2024.
- First Indian company to develop an in-house slip-form paver and commercialize a 3D concrete printing machine.
- Manufacturing Strength: Four manufacturing facilities in Karnataka, including one of the largest SLCM facilities globally.
- Innovation and R&D:
- In-house R&D team of 79 employees, the largest among peers in India.
- Developed an SLCM with load cell technology, recognized by the Government of India.
- Introduced a patented self-propelled boom pump designed for urban construction sites.
- Distribution:
- 51 dealerships across 23 states in India, with 114 service touchpoints.
- 25 dealers and distributors in South and Southeast Asia, the Middle East, and Africa.
- Dedicated team of 85 service professionals providing after-sales support.
- Customer Base:
- Over 19,000 customers, including contractors, rental companies, and government agencies.
- Equipment deployed in transportation, irrigation, and large-scale infrastructure projects.
- No single customer contributed more than 5% of revenue in FY22-FY24, ensuring a diversified business model.
Objects of the Issue
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges
- Carry out the Offer for Sale of up to 20,180,446 equity shares of face value of ₹1 each by the Selling Shareholders
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 10 Feb - 12 Feb 2025 |
| IPO Price Band | ₹599 - ₹629 per share |
| Fresh Issue | NIL |
| Offer For Sale | 20,180,446 shares |
| Total IPO Size | ₹1,269.35 crore |
| Face Value | ₹1 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 10 Feb 2025 |
| IPO Closing Date | 12 Feb 2025 |
| Basis Of Allotment | 13 Feb 2025 |
| Refunds | 14 Feb 2025 |
| Demat Transfer | 14 Feb 2025 |
| IPO Listing Date | 17 Feb 2025 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| Total Income | 771.85 | 1,172.57 | 1,780.07 | 794.16 |
| Total Expenses | 681.43 | 989.62 | 1,478.16 | 657.03 |
| Net Profit/Loss | 66.21 | 135.90 | 225.15 | 101.02 |
| NPM (*) | 8.58 | 11.59 | 12.65 | 12.72 |
| Total Assets | 735.31 | 966.73 | 1,236.14 | 1,348.76 |
| Total Liabilities | 157.04 | 252.93 | 318.18 | 352.92 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| EPS | 5.79 | 11.88 | 19.58 | 8.79 |
| ROE (%) | 11.45 | 19.04 | 24.53 | 10.14 |
| ROCE (%) | 15.52 | 25.31 | 32.82 | 13.84 |
| D/E Ratio | 0.01 | 0.02 | 0.01 | 0.002 |
| Current Ratio | 3.68 | 3.10 | 3.16 | 3.21 |
| EBITDA MARGIN (%) | 11.85 | 14.83 | 15.82 | 15.49 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Ajax Engineering Limited | 1,741.40 | 32.12 | 19.58 | 19.39 | 80.24 |
| Action Construction Equipment Limited | 2,913.80 | 46.13 | 27.56 | 26.65 | 103.42 |
| BEML Limited | 4,054.33 | 54.24 | 67.66 | 10.56 | 640.55 |
| Escorts Kubota Limited | 10,754.00 | 35.73 | 96.64 | 11.44 | 780.83 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
IPO Reservation
| Investor Type | Shares Offered |
|---|---|
| Qualified Institutional Buyer (QIB) | Not more than 50% |
| Non-Institutional Investor (NII/HNI) | Not less than 15% |
| Retail Individual Investor (RII) | Not less than 35% |
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 13.04 |
| Non-Institutional Investor (NII/HNI) | 6.46 |
| Retail Individual Investor (RII) | 1.94 |
| Total | 6.06 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Company Promoters
- KRISHNASWAMY VIJAY
- JACOB JITEN JOHN
- KALYANI VIJAY
- MADHURI VIJAY
- PRASHANTH VIJAY
- RACHEL REKHA HANSEN
- SAVITHA CHRISTEENA ALEXANDER
- SEAN ALEXANDER
- GREEN HAVEN TRUST
- OHANA TRUST
- JACOB HANSEN FAMILY TRUST
- THE JOHNS LOAVES TRUST
Lead Managers
- ICICI Securities Limited
- Citigroup Global Markets India Private Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
Company Address
Ajax Engineering Limited
253/1, 11 th Main Road 3 rd Phase, Peenya Industrial Area, Bengaluru 560 058 Karnataka, India
Phone: +91 82 9633 6111
Email: lianceofficer@ajax-engg.com
Website: www.ajax-engg.com
FAQs
- What is the issue size of the Ajax Engineering IPO?The Ajax Engineering IPO has an issue size of ₹1,269.35 crore. This includes a fresh issue of NIL and an offer for sale (OFS) of 20,180,446 shares.
- What is the price band of the Ajax Engineering IPO?The price band for the Ajax Engineering IPO is ₹599 - ₹629 per share.
- What are the bidding dates for the Ajax Engineering IPO?The Ajax Engineering IPO will open for bidding on 10 Feb 2025 and close on 12 Feb 2025.
- What is the allotment date for the Ajax Engineering IPO?The allotment date for the Ajax Engineering IPO is 13 Feb 2025.
- What is the minimum lot size and investment required for the Ajax Engineering IPO?The minimum lot size for the Ajax Engineering IPO is 23 shares and the minimum investment required is ₹14,467.
- What is the listing date for the Ajax Engineering IPO?The listing date for the Ajax Engineering IPO is 17 Feb 2025.
- What is the Ajax Engineering IPO grey market premium?The grey market premium (GMP) for the Ajax Engineering IPO is currently at ₹5, with an expected listing gain of approximately 0.79%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.