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ICICI Direct Report
Action Construction Equipment Ltd. reported good Q1 FY23 results. Revenue for the quarter came in at Rs 497.7 crore, up 55% YoY and down 3% QoQ. Segmental performance was as follows.
Crane segment revenue was at Rs 349.2 crore versus Rs 370.9 crore in Q4 FY22 and Rs 222.1 crore in Q1 FY22. Ebit margins for the quarter were at 10.9%.
Construction equipment segment revenue came in at Rs 52 crore versus Rs 52.2 crore in Q4 FY22 and Rs 36.6 crore in Q1 FY22. Ebit margins for the quarter were at 4.3%.
Material handling segment revenue came in at Rs 37.9 crore versus Rs 38.4 crore in Q4 FY22 and Rs 33.1 in Q1 FY22 with Ebit margins of 11.1%.
Agri segment revenue came in at Rs 58.6 crore versus 49 crore in Q4 FY22 and Rs 29.6 crore in Q1 FY22.
ACE's gross margins increased ~ 40 bps QoQ and declined ~ 204 bps QoQ.
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