Action Construction Equipment (ACE) Q2 24/25 earnings summary

Executive summary

• Achieved record Q2 FY25 revenue and margins, with operational revenue up 12.2% YoY and EBITDA margin at 18.04%.

• Maintained leadership in mobile and tower cranes with over 63% and 60% domestic market share, respectively.

• Diversified product portfolio and strong export focus, with presence in 37 countries.

• Unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2024 were approved by the Board on 8 November 2024.

• Statutory auditors issued an unmodified limited review report for both standalone and consolidated results.

Financial highlights

• Q2 FY25 operational revenue grew 12.2% YoY to INR 754.34 crores; EBITDA margin at 18.04%.

• Q2 FY25 total income: INR 7,909 Mn (up 14.6% YoY), EBITDA: INR 1,427 Mn (up 34.5% YoY), PAT: INR 948 Mn (up 28.3% YoY).

• Consolidated revenue from operations for Q2 FY25 was ₹75,669 lakhs, up from ₹67,324 lakhs in Q2 FY24.

• H1 FY25 total income: INR 15,527 Mn (up 14.3% YoY), EBITDA: INR 2,689 Mn (up 31.7% YoY), PAT: INR 1,790 Mn (up 26.5% YoY).

• Basic EPS for Q2 FY25 stood at ₹7.97, up from ₹6.21 in Q2 FY24.

Outlook and guidance

• Reiterated guidance of 15%+ growth in cranes, material handling, and construction equipment for FY25; agri segment expected to grow 10-15%.

• Growth momentum expected to continue, supported by government focus on infrastructure, manufacturing, and capital expenditure.

• FY26 revenue target of INR 4,400 crores, aiming to triple revenue from FY23 to FY26.

• Export contribution targeted to increase significantly over the next 2-3 years.

• New product launches and compliance with global emission norms to drive international sales.