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Ajwa Projects Ltd (545016)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 545016 NSE: Engineering | | Ajwa Projects Share Price

₹174.10 -9.15 (-4.99%)

As on 06-Nov'26 16:59

Ajwa Projects Ltd (545016)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 545016 NSE: Engineering | | Ajwa Projects Share Price

₹174.10 -9.15 (-4.99%)

As on 06-Nov'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹96 Cr.
Current Price
₹174.1
52-Week Low / High
₹174 / 203
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
43
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
31.83%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
%
Pledged shares (%) of Promoter's holding (%)
%
Reserves
-
Equity
₹5.5 Cr.
Face Value
₹10
All Time Low / High
₹183.25 / 203.00

Ajwa Projects stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Ajwa Projects Ltd a good quality company?
Ajwa Projects Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Ajwa Projects Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Ajwa Projects Ltd vs industry peers?
Ajwa Projects Ltd revenue CAGR is 30.12%, compared to the industry median CAGR of %, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Ajwa Projects Ltd?
Promoters hold % of the Ajwa Projects Ltd, with % of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Ajwa Projects Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ajwa Projects Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ13.1%33%32.4%35.9%-

Growth Parameters ⓘ

Sales ⓘ28.834.336.748.448
Sales YoY Gr.-19.2%7.2%31.8%-
Adj EPS ⓘ3.3169.413.69.9
YoY Gr.-382.2%-41.6%45%-
BVPS (₹) ⓘ32.348.430.744.387.6
Adj Net
Profit ⓘ
0.633.75.45
Cash Flow from Ops. ⓘ0.1-1.24.2-2.9-
Debt/CF from Ops. ⓘ100.5-9.31.9-4.4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA19%31.8%
Adj EPS ⓘNANA59.9%45%
BVPSⓘNANA11%44.1%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
10.339.735.336.215
Op. Profit
Mgn % ⓘ
6.816.619.919.2NAN
Net Profit
Mgn % ⓘ
2.18.610.211.211.2
Debt to
Equity ⓘ
1.31.20.70.7-
Working Cap
Days ⓘ
01952142070
Cash Conv.
Cycle ⓘ
0791031350

Valuation of Ajwa Projects - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

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No data found!

Management X-Ray

Shareholding Pattern

No Data To Display

Promoter's Holding & Share Pledging

Financials

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No data found!

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Annual reports

No annual reports available.

Concalls

No concalls available.

Ajwa Projects Ltd FAQs

The current trading price of Ajwa Projects on 06-Nov-2026 16:59 is ₹174.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Nov-2026 the market cap of Ajwa Projects stood at ₹95.77 Cr

The latest P/E ratio of Ajwa Projects as of 05-Nov-2026 is 17.66.

The latest P/B ratio of Ajwa Projects as of 05-Nov-2026 is 1.99.

The 52-week high of Ajwa Projects is ₹203.0 and the 52-week low is ₹174.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ajwa Projects is ₹48.42 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ajwa Projects Ltd is a below average quality company.

No data found

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Ajwa Projects Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Ajwa Projects Ltd

Ajwa Projects was originally incorporated as a Private Limited Company under the name and style of ‘Ajwa Projects Private Limited’ on March 12, 2011. Subsequently, the company was converted into Public Limited Company under the Companies Act, 2013 and the name of the company was changed to ‘Ajwa Projects Limited’ vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated June 27, 2025. The company is engaged in a diversified portfolio of industrial services that span fabrication, piping, erection, pressure equipment, prefabricated structures, maintenance & mechanical services, and civil construction works. Its role begins where it undertakes the core execution and manufacturing activities that convert approved plans into functional industrial assets. Through these activities, the company plays a critical role in creating and sustaining industrial and infrastructure facilities across sectors.

Fabrication forms a central part of its business and constitutes one of the most important areas of its operations. It is engaged in the machining, welding, and assembling of raw materials such as steel and other structural components into finished parts and sections as per client specifications. Its fabrication scope is broad and covers multiple categories of work. In structural fabrication, it manufactures technological frameworks, industrial buildings, girders, heavy modules, platforms, and crane girders that are critical for plant construction and infrastructure projects. In equipment fabrication, its activities include pressure vessels, boilers, heat exchangers, tanks, chimneys, ducts, ladles, and blast furnace components, which are widely used in process industries such as steel, power, oil and gas, and refineries. It also fabricates specialised components such as dish ends, crowns, petals, and customised parts, including diesel engine components for railway applications that require a high degree of precision and strict compliance with industry standards. As fabrication work forms the base for subsequent erection and installation, this area of its operations plays a pivotal role in ensuring the overall readiness, reliability, and quality of the industrial assets delivered by the company. 

It also provides erection services, which constitute an important area of its operations and one of the most critical stages in the industrial project lifecycle. These services cover the on-site installation, alignment, and integration of fabricated structures, equipment, and piping systems, all executed in accordance with client-approved designs and specifications. Erection requires handling and positioning of heavy structures, assembling of large equipment modules, and connecting auxiliary systems, often within complex and high-risk industrial environments. As the final step linking fabrication to operational readiness, this work demands strict adherence to safety norms, precise execution, and careful coordination with other site activities. Through these services, the company enables the transition of fabricated components into stable, functional, and compliant industrial assets, thereby playing a vital role in the completion and commissioning of projects across sectors such as oil & gas, refineries, power plants, steel plants, bridges, and large infrastructure works. Erection is not only about placing components but about ensuring stability, safety, and operational readiness. Any gap at this stage can delay or disrupt an entire project, making it one of the most sensitive and high-responsibility activities in the lifecycle of industrial facilities.

Business area of the company

The company is engaged in the business of Fabrication, Erection and Contract work along with manpower supply services & caters to a wide range of industries such as oil & gas, petrochemicals, refineries, power generation, steel, heavy metals, cement, nuclear power, bridges, metro rail, bullet train infrastructure, and other industrial and infrastructure projects.

Awards and recognitions

  • 2011-12: Certificate of Appreciation for Participating in Safety Skit Competition.
  • 2012: Recognized during the Safety Month Celebration - 2012 for its outstanding performance in maintaining safety standards and promoting a safe work culture at the Elevated Corridor Project, Nashik
  • 2013: Certificate of Merit for Best Quality Conscious Contractor.
  • 2013: Awarded during the Uttarakhand Power Plant Construction - Quality Month Celebration, recognizing meticulous site maintenance and housekeeping standards in mechanical works
  • 2013: ‘Safety Month-2013’ award for the Nashik Elevated Corridor Project, Nashik, in recognition of its consistent commitment to workplace safety standards and implementation of effective safety practices during project execution.
  • 2014: Awarded for outstanding performance and adherence to high safety standards during the execution of the 125 MW CSP Plant project as part of the Safety Month Celebration 2014.
  • 2015-16: Awarded the “Best HSE Conscious Contractor” (Runner up) for the year 2015-16.
  • 2017: Certificate of Appreciation awarded for Safe work Practice at EHES Project.
  • 2017: Certificate of Appreciation for Best Safety Practice/Standards in LCE, GGSR, HMEL Project.
  • 2018: Certificate awarded for Best Safety Conscious Contractor for Solar Power Plant.
  • 2022: Certificate of Appreciation for Thai Oil Clean Fuel Project LTHE (MFF).

History and milestones

  • 2011: Incorporation of the company as a private limited company under the name ‘Ajwa Projects Private Limited’ under the Companies Act, 1956. 
  • 2025: Conversion of the company from Private Limited to Public Limited company.

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