Action Construction Equipment (ACE) Q3 24/25 earnings summary

Executive summary

• Achieved best-ever quarterly and nine-month performance in Q3 FY25, with record revenues, EBITDA, PBT, and PAT, and strong growth across all business segments.

• Maintains leadership in mobile and tower cranes with over 63% and 60% domestic market share, exporting to 37+ countries.

• Diversified product portfolio and sector exposure, with significant presence in manufacturing, infrastructure, agriculture, and real estate.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.

• Limited review reports found no material misstatements in the financial results.

Financial highlights

• Q3 FY25 consolidated total income at INR 9,053 Mn, up 16.6% YoY; PAT at INR 1,117 Mn, up 26.6% YoY; EBITDA at INR 1,651 Mn, up 31.3% YoY.

• 9M FY25 consolidated total income at INR 24,580 Mn, up 15.2% YoY; PAT at INR 2,907 Mn, up 26.5% YoY; EBITDA at INR 4,340 Mn, up 31.6% YoY.

• Q3 EBITDA margin improved to 18.24% (up 204 bps YoY); 9M EBITDA margin at 17.66% (up 221 bps YoY).

• Diluted EPS for Q3 FY25 at INR 9.38 (up 26.6% YoY); for 9M FY25 at INR 24.41 (up 26.5% YoY).

• Subsidiaries contributed Rs. 1,616 lakhs in revenue and Rs. 437 lakhs in net profit in Q3; Rs. 3,749 lakhs in revenue and Rs. 434 lakhs in net profit in 9M FY25 before consolidation adjustments.

Outlook and guidance

• Reiterated FY25 guidance: 16%+ growth in cranes, material handling, and construction equipment; agri segment to remain flattish.

• Overall company growth expected at 15%+ with stable EBITDA margins at current levels.

• Medium-term guidance to double FY23 topline by FY26 remains intact.

• Plans to increase export contribution to 15-20% of revenue in the medium term, leveraging upgraded products and compliance with global emission norms.

• Expects continued growth driven by government focus on infrastructure, manufacturing, logistics, and housing, with capital expenditure rising to 22.1% of the budget in FY26.