ACE - Strong Long‐Term Outlook, Revenue Growth In The Upcoming Years: HDFC Securities Initiates Coverage

HDFC Securities Retail Research

Action Construction Equipment Ltd. is one of the experienced players, engaged in manufacturing and marketing of cranes, construction equipment, material handling and agricultural equipment. The company  is a major player of mobile and tower cranes and has more than  65%  market share in India. Company is also largest manufacturer of pick and  carry cranes. 

ACE is also one of the few players in manufacturing of forklifts. The  revenue of the company is well diversified in various segments, the  company has secured orders recently from defense sectors for manufacturing and supply of specialized equipments. 

The company has also received an order from Government of Ghana and  is expected to generate Rs150 to 200 crore of business from FY25. The FY22 revenue comprised of 68% from crane segment, 11% from construction equipment, 9% from material handling and 12% from agri equipment respectively. 

ACE has reiterated its target of revenue growth by 20‐25% YoY for FY23 and improvement in its current margin level. It aims to improve in bottom line by way of backward integration. 

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