AJAXENGG
Ajax Engineering Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
AJAXENGG
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹580 today
BEAR
₹505
-13%
5.8% a year · 24.3x exit
BASE
₹589
+2%
10% a year · 27.2x exit
BULL
₹766
+32%
13.6% a year · 34.2x exit
Where the market has priced it
9x30x today51x
- the guided figure reached earnings through a low-confidence bridge
- this company has too little filed history for a multiple band of its own, so the exit multiple is the median of 15 Trucks/Construction/Farm Machinery peers
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹19.68 (screener) |
|---|---|
| Guided growth | 10% a year, said on the call of 27-May-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 24.27x / 27.23x / 34.25x, this company’s own p20 / median / p80 across 15 filed years |
| Filed-industry peers | median 27.23x across 15 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 10%
I would anticipate at this point in time a mid and early double-digit growth would be a good number to look at and as we progress forward, I think we would be in a better position to see how things progress.
Call 27-May-2026 · bridge confidence low · transcript PDF