Action Construction Equipment’s Q2 PAT Hits Rs. 95 Crore with 28% Growth

New Delhi – Action Construction Equipment Ltd (ACE) is one of India’s top manufacturers of construction and material handling equipment. The company ACE recently released its financial results for the September 2023 quarter. The company reported a 28% rise in consolidated profit after tax (PAT) compared to the same quarter last year. 

The company’s profit after tax (PAT) increased to Rs. 94.82 crore for the September 2023 quarter. This marks a rise from Rs. 73.94 crore in the same period last year, supported by higher income. This growth was disclosed in the company’s recent exchange filing on Friday.

Income Growth Drives Q2 Performance

ACE reported a total income of Rs. 790.90 crore for the September 2023 quarter. This represents a substantial increase from Rs. 690.21 crore in the same quarter last year.

The company attributed this income growth to stronger sales across its core business segments. These segments include cranes, material handling, construction equipment, and agri equipment.

For the first half of FY24 (April to September), ACE reported a consolidated profit after tax (PAT) of Rs. 179 crore. This represents an increase from Rs. 141.51 crore in the same period last year.

Here's a table summarizing Action Construction Equipment Ltd's Q2 performance:

Segment-Wise Revenue Highlights

Revenue from the cranes, material handling, and construction equipment segments accounted for Rs. 693.07 crore of ACE's total income in the September quarter. This contribution significantly boosted the company’s overall revenue.

Revenue from the agri equipment division reached Rs. 61.27 crore. This highlights the company’s diverse portfolio and its strong presence in this segment.

ACE also recorded a 9% year-on-year increase in total sales volume, with 2,863 units sold in Q2.

Strong Financial Position and Future Outlook

In a statement, Sorab Agarwal, Executive Director of ACE, highlighted the company’s improved financial position. He noted that "In the quarter gone by, we have reinforced our liquidity position, improved working capital efficiency and further fortified our balance sheet which gives us the flexibility to seize growth opportunities in the future,".

Action Construction Equipment Ltd is one of India’s top manufacturers in the construction and material handling equipment industry. The company serves various sectors with a diverse range of products.

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