Action Construction Equipment (ACE) is hopeful of over 15-20% revenue growth in FY25. This growth is expected despite the potential short-term impacts of the ongoing general election and the upcoming monsoon season.
Sorab Agarwal, Executive Director at ACE, stated, “Operating leverage coupled with cost efficiencies, a better product mix, and most importantly commodity price, which has been stable or rather on a slight decline in the last quarter, aided us.”
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.
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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