Ajax Engineering IPO

Market Leader: Company is a leading manufacturer of SCLMs in India with approx 75% market share. Its SLCMs have a diverse range of applications and end-uses and are used pan-India under 'Argo' brand. During the last 10 years, company has sold over 25,000 SLCMs in India, which is the largest among leading concrete equipment companies in India during this period.

Diverse Range: As of September 30, 2024, company has over 141 concrete equipment variants catering to the concrete application value chain. These find application in large scale infrastructure projects (such as dams, highways and bridge construction) and are being deployed in upcoming infrastructure projects including the construction of prefabricated structures for metro projects and bridges, ports and airports.

Engineering-focused business: Company's core ethos has been to design, develop and engineer innovative and high-quality concrete equipments. Their in-house design, engineering, and development team includes 79 full-time employees, approximately 16% of our total permanent workforce.

Large dealer network: Company's dealer network comprised of 51 dealerships across 23 states in India, and products are accessible to customers through 114 touchpoints, which comprise 51 dealer headquarters and 63 branches.

Raw material price: Fluctuations in prices of materials (domestic & imported) and disruptions in the timely availability of materials could have an adverse effect on company's business.

Product concentration: Company derives 85% of revenue from the sale of self-loading concrete mixers. Any decrease in sale of SLCMs or demand for concrete equipment in India could adversely affect the business.

Cyclical Business: The concrete equipment industry in India is cyclical in nature and is influenced by government spending on public infrastructure and overall economic conditions affecting private infrastructure.