Action Construction Equipment expects to grow by 15-20% in FY25

The company's annual sales increased by 34.92% YoY, reaching Rs  2913.80 crore in FY24, up from Rs 2159.68 crore in the previous year.

Autocar Pro News Desk By Autocar Pro News Desk calendar 22 May 2024 Views icon1144 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Action Construction Equipment expects to grow by 15-20% in FY25

Haryana-based Action Construction Equipment (ACE) expects its revenue during FY25 to grow by 15-20%, despite the potential short-term impacts of the ongoing general election and the upcoming monsoon season.

The ACE's annual sales increased by 34.92% YoY, reaching Rs  2913.80 crore in FY24, up from Rs 2159.68 crore in the previous year. The company's net profit during the same period jumped a record 91.22% to Rs 328.16 crore in FY24, compared to Rs  171.61 crore in FY23.

On a quarterly basis, ACE's revenues during Q4 FY24 saw a spike of 36.17% to Rs 835.84 crore, up from Rs 613.84 crore in Q4-FY23.

Offering a breakdown of sales of their products, ACE management highlighted that its construction equipment revenues surged by 54.82% YoY. The revenues from cranes grew by 37.75% YoY. The material handling segment likewise increased by 8.6% YoY. Similarly, the agriculture division witnessed a growth of 12.6% YoY. Lastly, exports contributed with 72% YoY growth.

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