Action Construction Equipment (ACE) Q4 25/26 earnings summary

Executive summary

• Achieved best-ever Q4 revenue performance and stable FY 2026 income despite geopolitical headwinds, supply disruptions, and rupee depreciation, with strong operational flexibility and a diversified product portfolio across multiple sectors.

• World's largest pick & carry crane manufacturer with over 31 years of industry presence, a pan-India and global footprint in 37+ countries, and a wide sales/service network.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, were approved with an unmodified audit opinion.

• Maintained a debt-free status and strong liquidity, with a recommended final dividend of INR 2 per share for FY 2026.

• Focused on accelerated growth, operational flexibility, and quick adaptation to market changes.

Financial highlights

• FY 2026 total income was INR 3,395 crores (INR 33,905 Mn), largely flat year-over-year, with improved EBITDA margin to 18.33% (up 81 bps) and PAT margin to 12.53% (up 73 bps).

• Absolute EBITDA grew 4% to INR 622.36 crores; PAT increased 5.4% to INR 425 crores; diluted EPS for FY26 at INR 34.87, up 1.5% YoY.

• Q4 FY 2026 total income was INR 1,021 crores (INR 10,234 Mn), up 15% sequentially and 5.6% YoY; Q4 PAT at INR 108 crores (INR 1,109 Mn).

• Standalone revenue from operations for FY 2025-26 was Rs. 327,368 lakhs, with profit after tax at Rs. 42,542 lakhs; consolidated revenue at Rs. 328,044 lakhs, PAT at Rs. 41,510 lakhs.

• Other income was subdued due to mark-to-market losses on investments, partially recovered in April.

Outlook and guidance

• Expecting a steady start to FY 2027, with focus on sustaining margins and volume-led growth; price increases of 9%-10% already implemented in 2026, with further hikes planned to offset input cost inflation.

• Guidance for FY 2027 will be provided by mid-Q2; medium- to long-term revenue target of INR 6,000-6,200 crores by FY 2029/30 remains on track.

• Positive long-term industry outlook, with focus on profitable, volume-led growth through operational efficiencies and disciplined margin management.

• Defense and export business expected to contribute 10%-15% of revenue in coming years.

• Strategic 50:50 JV with KATO WORKS CO., LTD. to strengthen presence in the premium heavy crane segment and capitalize on infrastructure growth.