Action Construction Equipment revenue jumps 37 per cent
Action Construction Equipment reported its results for the quarter ended September 30, 2018 on Monday.
The company's standalone revenue for the quarter came in at Rs. 343.96 crore as against Rs. 250.99 crore in the corresponding quarter last year, registering 37 per cent yoy increase.
The company’s highest contributing segment, Cranes has registered 51 per cent growth in the revenue. Other segments like Construction equipment and Agri equipment also increased in terms of revenue by 15 per cent and 18 per cent, respectively. Whereas, its material handling segment registered marginal decline in its revenue by 4.5 per cent.
The EBITDA for the quarter rose by 22.6 per cent yoy to Rs. 21.26 crore as against Rs. 17.34 crore in the corresponding quarter last year, with a corresponding margin contraction of 73 bps. EBITDA margin for the quarter stood at 6.2 per cent.
The PAT for the quarter came in at Rs. 12.41 crore as against Rs. 11 crore in the corresponding quarter last year, yoy increase of 13 per cent.
Action Construction Equipment is a leading material handling and construction equipment manufacturer. The company’s 60 per cent business comes from infrastructures and 40 per cent from manufacturing & others.
On Monday, the stock was locked in its upper circuit limit at Rs. 99.25 before the announcement of its quarterly numbers.