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

Executive summary

• Achieved best-ever Q4 revenue performance and margin expansion despite geopolitical headwinds, supply disruptions, and rising input costs, with stable demand except for March due to the West Asia crisis.

• World's largest pick & carry crane manufacturer with over 31 years of industry presence, diversified across construction, infrastructure, logistics, manufacturing, defence, and agriculture.

• Strong pan-India and global presence in over 37 countries, supported by a wide sales and service network across 125+ locations.

• Strategic 50:50 JV with Kato Works (Japan) finalized to strengthen heavy crane segment, expand export opportunities, and capitalize on infrastructure growth.

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

Financial highlights

• FY26 standalone total income: INR 3,395 crore (flat YoY); Q4 income: INR 1,021 crore (up 15% QoQ, 5.6% YoY); FY26 consolidated revenue: Rs. 328,044 lakhs; Q4 consolidated revenue: Rs. 102,949 lakhs.

• FY26 EBITDA: INR 622.36 crore (up 4% YoY); EBITDA margin: 18.33% (up 81 bps YoY); FY26 PAT: INR 425 crore (up 5.4% YoY); Q4 PAT: INR 108 crore.

• Q4 FY26 PAT at INR 1,109 Mn, down 6.5% YoY; FY26 PAT at INR 4,151 Mn, up 1.4% YoY.

• Board recommended 100% final dividend (INR 2/share) for FY26, subject to shareholder approval.

• Remains debt-free with ample liquidity and non-current investments at ~INR 700 crore.

Outlook and guidance

• Expects steady start to FY27, focusing on sustaining EBITDA margins (15-16%) and driving volume-led growth.

• Price increases of 9-10% implemented in 2026 to offset 11-14% input cost inflation, mainly from steel.

• Guidance for FY27 and beyond to be provided by mid-Q2, with medium-term revenue target of INR 6,000-6,200 crore by FY29/30.

• Defense and export business expected to contribute 11-13% of revenue in FY27.

• Positive long-term industry outlook, with focus on operational efficiencies and disciplined margin management.