Name: Latest research reports of Ajax Engineering Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Ajax Engineering Ltd.
Rating: 5
Author: ICICI Securities Limited

Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
20 Nov 2025	Ajax Engineering	Consensus Share Price Target	659.30	823.20	-	24.86	buy	pdf Detailed Estimates
16 Nov 2025	Ajax Engineering	ICICI Securities Limited	659.30	900.00	626.10 (5.30%)	36.51	Buy	pdf post cache	Broker Report Volumes remain resilient amidst extended monsoon ICICI Securities Limited Ajax reported a surprisingly good volume growth with 1,116 SLCMs (+51% YoY) in Q2FY26. Although the growth is on a low base due to elections impacting the base quarter volumes, we believe it to be healthy given the extended monsoon which tends to have bearing on overall construction activity and consequently impacts construction equipment sales. pdf Copy Link Share on Share on Share on Share on Alert
05 Aug 2025	Ajax Engineering	ICICI Securities Limited	659.30	900.00	643.30 (2.49%)	36.51	Buy	pdf post cache	Broker Report 'A quarter of transition’? ICICI Securities Limited Ajax reported a muted set of numbers in Q1FY26 with revenue and volume flat YoY. Sale of slipform pavers (~5% of revenue) in base quarter aided EBITDA margin of 17.1% in Q1FY26 (vs. 15.6% in FY25). pdf Copy Link Share on Share on Share on Share on Alert
08 Feb 2025	Ajax Engineering	Hem Securities	659.30				IPO Subscribe	pdf post cache	Broker Report AJAX ENGINEERING LIMITED Hem Securities pdf Copy Link Share on Share on Share on Share on Alert
07 Feb 2025	Ajax Engineering	Ashika Research	659.30				IPO Note	pdf post cache	Broker Report Ajax Engineering Ltd. Ashika Research pdf Copy Link Share on Share on Share on Share on Alert
07 Feb 2025	Ajax Engineering	Ventura	659.30				IPO Subscribe	pdf post cache	Broker Report AJAX ENGINEERING LTD. Ventura IPO Note pdf Copy Link Share on Share on Share on Share on Alert
05 Feb 2025	Ajax Engineering	SBI Securities	659.30				IPO Note	pdf post cache	Broker Report Ajax Engineering Ltd IPO Note SBI Securities pdf Copy Link Share on Share on Share on Share on Alert

Ajax Engineering Ltd. share price target

Ajax Engineering Ltd. has an average share price target of 900. The consensus estimate represents an upside of 36.51% from the last price of 659.30. View 6 reports from 5 analysts offering long-term price targets for Ajax Engineering Ltd..

Volumes remain resilient amidst extended monsoon

'A quarter of transition’?

AJAX ENGINEERING LIMITED

Ajax Engineering Ltd.

AJAX ENGINEERING LTD.

Ajax Engineering Ltd IPO Note

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