Ajax Engineering CEO, MD, chairman, board of directors and AGM
NSE: AJAXENGGBSE: 544356Agricultural, Commercial & Construction VehiclesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹562.15.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹6,303 Cr727th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 5 Aug 2026
- 27.7
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 18 May 2026
- 4.5
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 5 Aug 2026
- 17.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 5 Aug 2026
- 18.2%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 18 May 2026
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 54,98755.6% delivered
Ajax Engineering board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.
- ChairpersonKrishnaswamy Vijay
- Managing director and CEOShubhabrata Saha
- Company Secretary and Compliance OfficerShruti Vishwanath Shetty
5 directors2 independent2 executive1 non-executive
- Krishnaswamy Vijay · ChairpersonExecutive · joined Jul 1992 · 1 listed board · 1 committee seat
- Shubhabrata Saha · Managing director and CEOExecutive · joined Jan 2023 · 1 listed board · 1 committee seat
- Doddaballapur Prasanna AchutaraoIndependent · joined Jul 2023 · 35 months as independent · 1 listed board · 1 as independent · 3 committee seats
- Jayashree SatagopanIndependent · joined Aug 2024 · 22 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
- Sachin Rajkumar NandgoankarNominee, non-executive · joined May 2026 · 2 listed boards · 1 as independent · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
4 directors who left
- Rajan Wadhera, left 18 Jun 2026: Others
- Jacob Jiten John, left 18 May 2026: Others
- Raghavan Sadagopan, left 31 Mar 2026: Others
- Parin Mehta, left 9 Mar 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 2 Jun 20263 of 6 present1 independent · 14 days in between
- 18 May 20264 of 7 present2 independent · 37 days in between
- 10 Apr 20266 of 6 present3 independent · 17 days in between
- 23 Mar 20267 of 7 present4 independent · 38 days in between
1 earlier meeting
- 12 Feb 20267 of 7 present4 independent
Audit Committee
Chair Jayashree Satagopan
Doddaballapur Prasanna Achutarao
- 2 Jun 20262 of 3 present2 independent · 14 days in between
- 18 May 20262 of 3 present2 independent · 55 days in between
- 23 Mar 20263 of 3 present3 independent · 38 days in between
- 12 Feb 20263 of 3 present3 independent
Nomination and remuneration committee
Chair Doddaballapur Prasanna Achutarao
Krishnaswamy Vijay, Jayashree Satagopan
- 2 Jun 20262 of 4 present2 independent · 52 days in between
- 10 Apr 20263 of 3 present2 independent · 17 days in between
- 23 Mar 20264 of 4 present3 independent
Stakeholders Relationship Committee
Shubhabrata Saha, Krishnaswamy Vijay
No meeting listed in the filing.
Risk Management Committee
Chair Shubhabrata Saha
Krishnaswamy Vijay, Jayashree Satagopan
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Doddaballapur Prasanna Achutarao
Krishnaswamy Vijay, Sachin Rajkumar Nandgoankar, Shubhabrata Saha
No meeting listed in the filing.
Independent Director Committee
Chair Doddaballapur Prasanna Achutarao
Jayashree Satagopan, Rajan Wadhera
No meeting listed in the filing.
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Jun 2026.
- S.R. BATLIBOI & ASSOCIATES LLPPeer-review certificate valid to Jul 2027
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Ajax Engineering AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Ajax Engineering share news and announcements
Annual general meeting, 28 Sep 2026
68,645 shareholders on the register on 21 Sep 2026; present: 2 promoters and 77 others; votes counted by Pramod S M / BMP & Co. LLP.The company's voting result (opens in a new tab)
- To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 7.21%
Turnout: all 91.29% · promoters 100.00% · institutions 73.70% · other public 0.09%
To appoint a director in place of Mr. Krishnaswamy Vijay (DIN: 00642715), Whole Time Director and Executive Chairman who retires by rotation, and being eligible, has offered himself for re-appointment.MoreLess
Ordinary99.47% for0.53% againstAgainst: promoters 0.00% · institutions 4.28% · other public 8.66%
Turnout: all 91.29% · promoters 100.00% · institutions 73.70% · other public 0.09%
- Ratification of Cost Auditor’s RemunerationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 4.98%
Turnout: all 91.29% · promoters 100.00% · institutions 73.70% · other public 0.09%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 7 Aug 2026, 1 resolution
69,896 shareholders on the register on 3 Jul 2026; votes counted by Pramod S M / BMP & Co. LLP.The company's voting result (opens in a new tab)
- To approve the appointment of Mr. Sachin Rajkumar Nandgaonkar (DIN: 03410739) as a Non-Executive Nominee Director of the Company.OrdinaryPromoters have an interest in it99.85% for0.15% against
Against: promoters 0.00% · institutions 0.73% · other public 6.35%
Turnout: all 57.18% · promoters 56.83% · institutions 73.93% · other public 0.37%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 5 Sep 2025, 4 resolutions
78,994 shareholders on the register on 29 Aug 2025; present: 4 promoters and 68 others; votes counted by Pramod S M / BMP & CO LLP.The company's voting result (opens in a new tab)
- To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.96%
Turnout: all 92.31% · promoters 100.00% · institutions 77.18% · other public 0.13%
- To appoint a Director in place of Mr. Jacob Jiten John (DIN: 03636873), Whole Time Director who retires by rotation, and being eligible, has offered himself for re-appointmentOrdinary99.67% for0.33% against
Against: promoters 0.00% · institutions 2.47% · other public 4.85%
Turnout: all 92.31% · promoters 100.00% · institutions 77.18% · other public 0.13%
- Ratification of Cost Auditor’s RemunerationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 5.04%
Turnout: all 92.31% · promoters 100.00% · institutions 77.18% · other public 0.13%
- Appointment of M/s. BMP & Co., Practicing Company Secretaries as Secretarial Auditors and to fix their remunerationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 4.90%
Turnout: all 92.31% · promoters 100.00% · institutions 77.18% · other public 0.13%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 11 Jul 2025, 1 resolution
95,812 shareholders on the register on 6 Jun 2025; votes counted by Pramod S M / BMP & CO LLP.The company's voting result (opens in a new tab)
Ratification of Ajax Engineering Limited (Formerly known as Ajax Engineering Private Limited) Employee Stock Option Plan 2024 including Ajax Employee Stock Option Scheme 2024 – Scheme - I and Ajax Employee Stock Option Scheme 2024 – Scheme – IIMoreLess
Special96.80% for3.20% againstAgainst: promoters 0.00% · institutions 24.77% · other public 45.39%
Turnout: all 91.86% · promoters 100.00% · institutions 75.75% · other public 0.49%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 28 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)
- To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon.1 for0 against
To appoint a director in place of Mr. Krishnaswamy Vijay (DIN: 00642715), Whole Time Director and Executive Chairman who retires by rotation, and being eligible, has offered himself for re-appointment.MoreLess
1 for0 against- Ratification of Cost Auditor’s Remuneration1 for0 against
Mutual fund votes, meeting of 7 Aug 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)
- To approve the appointment of Mr. Sachin Rajkumar Nandgaonkar (DIN: 03410739) as a Non-Executive Nominee Director of the Company.2 for0 against
2 earlier meetings
Mutual fund votes, meeting of 5 Sep 2025, 6 fund houses
- To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.6 for0 against
- To appoint a Director in place of Mr. Jacob Jiten John (DIN: 03636873), Whole Time Director who retires by rotation, and being eligible, has offered himself for re-appointment6 for0 against
- Ratification of Cost Auditor’s Remuneration6 for0 against
- Appointment of M/s. BMP & Co., Practicing Company Secretaries as Secretarial Auditors and to fix their remuneration6 for0 against
Mutual fund votes, meeting of 11 Jul 2025, 6 fund houses
Ratification of Ajax Engineering Limited (Formerly known as Ajax Engineering Private Limited) Employee Stock Option Plan 2024 including Ajax Employee Stock Option Scheme 2024 – Scheme - I and Ajax Employee Stock Option Scheme 2024 – Scheme – IIMoreLess
Against Axis Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund
- Axis Mutual FundUnder ESOP 2024, the company can grant upto 5,720,340 options- comprising 4,347,458 options under Scheme I and 1,372,882 options under Scheme II. The dilution under the plan will be ~4.8% on the expanded capital base as on 31 March 2025. Prior to listing, 205,077 options under Scheme I and 1,162,132 options under Scheme II were granted but remain unvested. Under Scheme I, all eligible employees are entitled to participate, whereas Scheme II is limited to the CEO and other management personnel. The exercise price under Scheme I will be the face value of the equity share (Rs. 1.0 each) and under Scheme II will be Rs. 262.0 per option. Given the price difference between CMP and the exercise prices, we do not support the resolution.
- Edelweiss Mutual FundNon-Compliant under SEBI SBEB Regulations: NRC Discretion to decide Exercise Price. Governance Concern: Excessive potential benefit to a single employee. Transparency Concern: Vesting period as disclosed by the company is not specific.
- HSBC Mutual FundThe stock options may be issued with an exercise price at a discount to the prevailing market price, on grant date.
3 for3 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.