Action Construction Equipment jumps 5 per cent on robust Q1FY19 numbers

Action Construction Equipment (ACE), India’s leading Material Handling and Construction Equipment manufacturing company with a majority market share in Mobile Cranes and Tower Cranes segment announced its first quarter (Q1FY19) results for the period ended June 30, 2018.

The company’s standalone revenue for the quarter came in at Rs. 336.23 crore, registering 67.2 per cent yoy increase. This was majorly driven by a jump in revenue from Cranes, Construction equipment, Material handling and Agri equipment by 79 per cent, 68 per cent, 41 per cent and 103 per cent yoy, respectively.

EBITDA for the quarter rose by 185.3 per cent yoy to Rs. 26.82 crore with a corresponding margin expansion of 330 bps. EBITDA margin for the quarter stood at 8 per cent.

The PAT for the quarter jumped to Rs. 16.65 crore as against net profit of just Rs. 3.77 crore in the corresponding quarter last year.

In Monday morning trade, the stock opened at Rs. 156.90 per share, up by almost 3 per cent and made an intraday high and low of Rs. 159.75 and Rs. 153, respectively on the BSE.