Action Construction Equipment (ACE) Q4 24/25 earnings summary

Executive summary

• Achieved record annual and quarterly sales and profits in FY2025, with consolidated income of INR 3,420 crore, up 14.47% year-over-year, and a recommended final dividend of INR 2 per share, subject to shareholder approval.

• World's largest Pick & Carry crane manufacturer with over 63% market share in India and 60% in domestic tower cranes.

• Diversified operations across construction, infrastructure, manufacturing, logistics, and agriculture sectors.

• Secured the largest-ever order from the Ministry of Defence for 1,121 rough terrain forklifts/telehandlers valued at INR 420 crore.

• Audit reports for both standalone and consolidated results carry unmodified opinions from statutory auditors.

Financial highlights

• FY2025 consolidated revenue from operations was INR 3,420 crore, up 14.47% year-over-year; Q4 income rose 12.98% year-over-year to INR 967 crore.

• FY2025 EBITDA grew 26.2% to INR 606.1 crore; EBITDA margin improved to 17.68%; PAT grew 24.7% to INR 409.2 crore.

• Diluted EPS for FY2025 at INR 34.37, up 24.7% year-over-year.

• Cranes, Material Handling & Construction Equipment volumes grew 14.75% year-over-year; revenue up 15.7% year-over-year.

• Q4 EBITDA at INR 171.26 crore, PBT at INR 160 crore, and PAT at INR 118 crore; Q4 EBITDA margin at 17.7%.

Outlook and guidance

• Targeting 14%-15% top-line growth for FY2026 with stable margins; guidance to be revisited after Q2.

• Cautiously optimistic due to global uncertainties, emission norm transitions, and price increases.

• Expects defense and exports to contribute 9%-10% of revenue in FY2026, aiming for 10%-15% medium-term.

• Guidance for doubling FY2023 revenue by FY2026 revised; now expected by FY2027.