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

Executive summary

• Achieved highest-ever quarterly revenue, EBITDA, PBT, and PAT in Q3 FY25, with strong growth across all segments and robust domestic demand.

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

• Diversified product portfolio 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 issued for both standalone and consolidated results, with no material misstatements identified.

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.

• Q3 FY25 operational revenue grew 15.93% YoY to INR 873.1 crores.

• EBITDA margin improved to 18.24% in Q3 FY25 (up 204 bps YoY); PAT margin at 12.34% (up 98 bps 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.

• Sequentially, Q3 operational revenue grew 15.74%, EBITDA 12.79%, and PAT 13.54%.

Outlook and guidance

• Guidance reiterated for 16%+ growth in cranes, material handling, and construction equipment for FY25; agri segment to remain flattish.

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

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

• Plans to increase export contribution to total revenues over the next 2-3 years, leveraging upgraded products and compliance with global emission norms.

• Exports and defense expected to contribute 15-20% of revenue in the medium term.