Construction & Engineering firm Action Construction Equipment announced Q1FY23 Result : Highest ever Q1 revenues achieved with robust topline growth. Strong Revenue growth registered across all segments on YoY basis: Cranes grew by 58% Construction Equipment Segment grew by 42% Material Handling Equipment grew by 14% Agri Equipment grew by 98% The foreign subsidiary Company SC Forma SA, Romania has sold land and building situated in Romania for a consideration of Rs. 19.8 Cr. Awarded with a contract to set up a state-of-the-art assembly plant for the manufacturing of Tractors, Backhoe Loaders and Fabrication of Agricultural implements for the Government of The Republic of Ghana against a consideration of USD 24.98 Mn. Breakthrough order awarded for supply of 40 Backhoe Loaders from Border Road Organisation, Ministry of Defence. Going forward, strong focus of the government on infrastructure development and strengthening of the manufacturing sector holds ACE in good stead and the recent softening of commodities, due to policy decisions, augurs well for the company which will positively impact sequential margins in coming quarters. Result PDF
Action Construction Equipment declares Q4FY22 result: The company achieved its highest ever quarterly revenues and the second best quarterly financial performance in its history. ACE continued to post a robust topline growth with operational revenue growing by 33% on an annual basis and 17% in Q4-FY22 on a QoQ basis Margins in Q4 were impacted on a YoY basis due to adverse commodity prices. Strong Revenue growth registered across all segments during the year: Cranes grew by 40% Construction Equipment Segment grew by 32% Material Handling Equipment grew by 48% Agri Equipment was marginally down by 1% ACE expanded its Global footprint and increased its export sales by 18.5% Going forward, strong focus of the government on infrastructure development and strengthening of the manufacturing sector augurs well for the company. However, continued and uncertain inflationary environment may put demand and margins under pressure in the near future. Result PDF