Action Construction Equipment financials and balance sheet

NSE: ACEBSE: 532762Agricultural, Commercial & Construction VehiclesSmall Cap

₹1,000.10₹53.30 (5.06%)BSE ₹1,000.15

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,053.40.

52-week range of traded prices to 23 Oct 2026

₹745.10Low, 30 Mar 2026₹1,268.00High, 21 Sep 2026

Market cap: ₹11,910 Cr539th largest listed
P/E: 27.3
P/B: 5.9
Dividend yield: 0.20%
ROE: 24.1%
ROCE: 24.5%
Debt to equity: 0.00
Volume, NSE: 4,34,40047.9% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Action Construction Equipment annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹3,327 Cr, year to Mar 2025

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.3% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue3,280
Materials and goods−2,214
Employee costs−160
Other expenses−402
Operating profit504
Depreciation−35
Other income+110
One-off items0.0
Finance costs−22
Profit before tax557
Tax−142
Net profit415

What the company owns

Plant, investments and other assets₹1,725 Cr
Inventory₹605 Cr
Current investments₹560 Cr
Receivables₹284 Cr
Cash and bank₹77 Cr

What pays for it: net worth and liabilities

Net worth₹2,011 Cr
Owed to suppliers₹917 Cr
Other liabilities₹324 Cr
Borrowings₹0 Cr

Action Construction Equipment business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Action Construction Equipment segment results by quarter

Revenue by segment

₹3,292 CrTotal

Cranes, Material Handling and Construction Equipment₹2,953 Cr89.7% of total
Agriculture Equipment₹262 Cr8.0% of total
Others₹77 Cr2.3% of total

Profit by segment

Cranes, Material Handling and Construction Equipment₹550 Cr96.1% of total
Agriculture Equipment₹3 Cr0.4% of total
Others₹20 Cr3.4% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Cranes, Material Handling and Construction Equipment
Revenue, ₹ crore
3,097
2,953
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
566
550
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Agriculture Equipment
Revenue, ₹ crore
204
143
200
198
212
237
247
262
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
7
−4
24
13
5
9
9
3
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
77
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
20
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	1,343	1,156	1,227	1,630	2,160	2,914	3,344	3,292
Company revenue, as in its results	1,343	1,156	1,227	1,630	2,160	2,914	3,327	3,280
Revenue	–	–	–	–	–	–	3,097	2,953
Revenue growth	–	–	–	–	–	–	–	−4.6%
Profit	–	–	–	–	–	–	566	550
Profit growth	–	–	–	–	–	–	–	−2.8%
Margin	–	–	–	–	–	–	18.3%	18.6%
Return on capital	–	–	–	–	–	–	224.6%	159.0%
Assets	–	–	–	–	–	–	1,202	1,356
Liabilities	–	–	–	–	–	–	949	1,009
Capital employed	–	–	–	–	–	–	252	346
Revenue	204	143	200	198	212	237	247	262
Revenue growth	–	−29.6%	39.7%	−1.1%	6.8%	12.1%	4.2%	6.2%
Profit	7	−4	24	13	5	9	9	3
Profit growth	–	–	–	−47.7%	−57.0%	64.9%	−3.8%	−70.5%
Margin	3.3%	−2.9%	12.0%	6.4%	2.6%	3.8%	3.5%	1.0%
Return on capital	–	−41.7%	88.8%	25.9%	14.3%	8.9%	8.8%	53.3%
Assets	–	58	97	127	124	175	189	150
Liabilities	–	48	69	79	86	74	91	146
Capital employed	–	10	27	49	38	101	97	5
Revenue	–	–	–	–	–	–	–	77
Profit	–	–	–	–	–	–	–	20
Margin	–	–	–	–	–	–	–	25.6%
Assets	–	–	–	–	–	–	–	26
Liabilities	–	–	–	–	–	–	–	60
Capital employed	–	–	–	–	–	–	–	−34
Revenue	964	829	790	1,103	1,530	2,107	–	–
Revenue growth	–	−14.1%	−4.6%	39.6%	38.6%	37.7%	–	–
Profit	89	93	87	129	194	343	–	–
Profit growth	–	4.2%	−6.1%	47.5%	50.6%	77.1%	–	–
Margin	9.3%	11.2%	11.0%	11.7%	12.7%	16.3%	–	–
Return on capital	–	24.5%	20.4%	31.7%	69.5%	253.4%	–	–
Assets	–	674	743	752	693	820	–	–
Liabilities	–	294	315	347	414	685	–	–
Capital employed	–	380	428	406	279	135	–	–
Revenue	94	84	103	152	169	184	–	–
Revenue growth	–	−11.4%	23.0%	47.8%	11.2%	8.6%	–	–
Profit	11	8	13	18	21	24	–	–
Profit growth	–	−29.0%	56.0%	42.9%	14.6%	16.3%	–	–
Margin	12.2%	9.8%	12.4%	12.0%	12.3%	13.2%	–	–
Return on capital	–	60.2%	109.3%	101.3%	223.5%	7,822.6%	–	–
Assets	–	29	38	41	44	45	–	–
Liabilities	–	15	27	23	35	44	–	–
Capital employed	–	14	12	18	9	0	–	–
Revenue	80	101	134	176	249	386	–	–
Revenue growth	–	25.5%	32.9%	31.8%	41.5%	54.8%	–	–
Profit	2	0	7	9	24	50	–	–
Profit growth	–	−99.2%	41,021.2%	38.2%	150.7%	110.9%	–	–
Margin	2.5%	0.0%	5.1%	5.3%	9.4%	12.8%	–	–
Return on capital	–	0.0%	13.4%	17.7%	154.8%	59.3%	–	–
Assets	–	102	97	105	129	188	–	–
Liabilities	–	54	46	52	113	104	–	–
Capital employed	–	48	51	53	15	84	–	–
Revenue	0	0	0	0	–	–	–	–
Profit	0	0	0	0	–	–	–	–
Margin	−333.1%	−522.1%	−253.5%	−1,668.3%	–	–	–	–
Assets	–	0	0	0	–	–	–	–
Liabilities	–	0	0	0	–	–	–	–
Capital employed	–	0	0	0	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Action Construction Equipment quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 18 May	Mar 2020Filed 16 Jun	Mar 2021Filed 29 May	Mar 2022Filed 24 May	Mar 2023Filed 31 May	Mar 2024Filed 22 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Revenue from operations	751	1,099	1,343	1,156	1,227	1,630	2,160	2,914	3,327	3,280
	708	1,007	1,245	1,065	1,108	1,478	1,939	2,511	2,821	2,776
Materials and goods bought	589	848	1,085	894	962	1,307	1,536	2,023	2,273	2,214
Employee costs	59	–	75	86	72	85	100	121	138	160
Other expenses	60	–	85	85	74	86	303	367	409	402
Operating profit before depreciation	43	92	98	92	119	151	221	403	506	504
Operating margin	5.8%	8.3%	7.3%	7.9%	9.7%	9.3%	10.2%	13.8%	15.2%	15.4%
Materials, % of revenue	78.4%	–	80.8%	77.3%	78.4%	80.2%	71.1%	69.4%	68.3%	67.5%
Employee costs, % of revenue	7.8%	–	5.6%	7.4%	5.9%	5.2%	4.6%	4.1%	4.2%	4.9%
Other expenses, % of revenue	8.0%	–	6.3%	7.3%	6.0%	5.3%	14.1%	12.6%	12.3%	12.3%
Depreciation and amortisation	13	12	12	13	14	15	18	23	28	35
Operating profit after depreciation	31	80	86	79	105	136	203	380	477	469
Other income	6	8	10	4	15	15	41	77	100	110
Finance costs	13	14	12	15	12	14	10	23	29	22
One-off items	0	0	0	0	0	0	0	0	0	0
Profit before tax	24	74	84	68	108	137	234	434	549	557
	5	22	28	16	28	32	61	106	140	142
Current tax	2	21	26	17	27	35	61	110	142	139
Deferred tax	3	1	2	−1	2	−2	0	−4	−2	3
Share of profit of joint ventures and associates	0	–	–	–	–	–	–	–	–	–
	21	52	56	52	80	105	173	328	409	415
Belonging to the company's shareholders	–	52	56	52	80	105	172	328	409	415
Belonging to outside owners of subsidiaries	–	–	0	0	0	0	1	0	0	0
Other comprehensive income	–	–	0	0	1	0	0	0	0	0
Total comprehensive income	–	–	56	52	81	105	173	328	409	415
Net margin	2.7%	4.7%	4.2%	4.5%	6.5%	6.4%	8.0%	11.3%	12.3%	12.7%
Net margin without joint ventures and associates	2.7%	–	–	–	–	–	–	–	–	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2017: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the company's periods around it state no share for other owners for the gap to belong to.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 18 May	Mar 2020Filed 16 Jun	Mar 2021Filed 29 May	Mar 2022Filed 24 May	Mar 2023Filed 31 May	Mar 2024Filed 22 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
	438	443	524	754	920	1,232	1,616	2,011
	438	443	523	754	919	1,230	1,615	2,011
Share capital	23	23	23	24	24	24	24	24
Reserves	414	420	501	730	895	1,206	1,591	1,987
Belonging to outside owners of subsidiaries	0	0	0	0	2	2	2	0
	44	74	51	8	6	4	15	0
Repayable after a year	37	29	20	0	0	0	0	0
Repayable within a year	7	45	31	8	6	4	15	0
	394	464	494	511	663	925	1,082	1,218
Trade payables	281	320	331	361	501	688	809	917
Other financial liabilities	82	73	91	95	24	42	32	39
Other liabilities	23	23	38	42	130	180	204	258
Provisions	2	1	1	2	3	4	5	4
Tax owed	0	1	2	4	–	7	17	0
	55	47	38	17	17	13	13	23
Other financial liabilities	0	0	0	1	1	0	1	7
Provisions	3	3	2	2	3	3	4	6
Deferred tax	16	14	16	13	13	10	8	10
	887	954	1,055	1,282	1,600	2,169	2,711	3,252
Held for sale or for a demerger	–	–	–	–	–	–	5	–
	440	467	465	568	688	896	1,388	1,627
Plant in use, after depreciation	327	398	416	437	473	560	698	763
Plant being built	8	19	13	24	24	44	28	49
Intangible assets	0	1	1	3	2	3	3	3
Goodwill	1	0	0	0	0	0	0	0
Intangible assets being developed	0	0	0	0	–	–	1	1
Property held to earn rent	13	12	12	12	12	16	15	15
Investments	18	21	6	69	137	225	543	723
Other financial assets	5	1	7	17	35	11	10	3
Deferred tax	0	0	0	0	1	1	1	0
Other assets	69	14	10	7	4	37	91	70
	446	486	591	715	911	1,273	1,318	1,624
Inventories	213	271	266	333	419	553	515	605
Trade receivables	144	147	225	189	169	164	265	284
Cash and cash equivalents	8	3	33	6	21	48	49	64
Other bank balances	3	6	4	9	27	62	7	13
Current investments	27	6	25	110	212	370	376	560
Loans given	0	0	0	0	1	1	1	1
Other financial assets	2	2	2	3	8	9	12	13
Tax paid in advance	2	2	0	0	–	–	0	0
Other assets	47	48	36	64	54	65	94	83
Net debt	6	58	−10	−117	−255	−476	−416	−637

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 29 May	Mar 2022Filed 24 May	Mar 2023Filed 31 May	Mar 2024Filed 22 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
	86	109	274	433	412	417
	110	142	339	536	545	575
	−25	−27	112	119	2	46
Receivables	−83	33	−2	−10	−110	−30
Inventories	5	−67	−89	−150	19	−90
Payables	10	30	91	188	106	96
Other working capital	43	−23	112	91	−13	70
Tax paid	−24	−33	−65	−103	−133	−156
Capital spending	43	38	74	175	221	93
Free cash flow	43	71	200	258	191	324
	−16	−201	−218	−368	−383	−350
Plant and property sold	18	4	37	10	15	7
Interest received	1	1	10	15	47	58
Dividends received	0	0	0	0	1	2
	−40	65	−41	−39	−29	−52
Borrowings raised	−28	−47	508	638	927	692
Borrowings repaid	0	0	−531	−641	−916	−706
Interest paid	−12	−14	−10	−18	−12	−13
Lease payments	0	0	0	0	−1	−1
Dividends paid	0	6	7	12	24	24
Shares bought back	0	0	0	0	4	0
Shares issued	0	132	0	0	0	0
Net change in cash	29	−27	16	27	0	15

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Action Construction Equipment dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 18 May	Mar 2020Filed 16 Jun	Mar 2021Filed 29 May	Mar 2022Filed 24 May	Mar 2023Filed 31 May	Mar 2024Filed 22 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Earnings per share	₹1.50	₹4.55	₹4.78	₹4.57	₹7.03	₹9.02	₹14.41	₹27.56	₹34.39	₹34.88
Diluted earnings per share	₹1.50	₹4.55	₹4.78	₹4.57	₹7.03	₹9.02	₹14.41	₹27.56	₹34.37	₹34.87
Dividend per share	₹0.30	₹0.50	₹0.50	₹0.50	₹0.50	₹0.60	₹1.00	₹2.00	₹2.00	₹2.00
Book value per share	–	–	₹37.29	₹39.00	₹46.11	₹63.33	₹77.13	₹103.26	₹135.58	₹168.85
Dividend payout	–	11.3%	10.5%	10.8%	7.1%	6.8%	6.9%	7.3%	5.8%	5.7%
Shareholder yield	–	–	–	–	0.0%	−4.4%	0.1%	0.1%	0.2%	0.3%
Market cap at the year end (₹ crore)	701	1,967	1,345	389	1,752	2,864	4,845	16,989	14,970	8,919

Ratios

Consolidated, years to March.Action Construction Equipment PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 18 May	Mar 2020Filed 16 Jun	Mar 2021Filed 29 May	Mar 2022Filed 24 May	Mar 2023Filed 31 May	Mar 2024Filed 22 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Revenue growth	17.9%	46.2%	22.2%	−13.9%	6.1%	32.8%	32.5%	34.9%	14.2%	−1.4%
Operating profit growth	41.1%	111.5%	6.8%	−6.4%	30.0%	27.3%	45.9%	82.5%	25.4%	−0.4%
Net profit growth	106.1%	153.7%	7.7%	−6.3%	52.1%	31.6%	64.8%	89.7%	24.7%	1.4%
Earnings per share growth	–	203.3%	5.1%	−4.4%	53.8%	28.3%	59.8%	91.3%	24.8%	1.4%
	–	–	12.8%	11.9%	16.5%	16.4%	20.5%	30.5%	28.8%	22.9%
	–	–	–	−0.9 pts	4.6 pts	−0.1 pts	4.1 pts	10.0 pts	−1.8 pts	−5.9 pts
From the net margin	–	–	–	1.1 pts	5.2 pts	−0.2 pts	3.8 pts	8.6 pts	2.8 pts	0.8 pts
From asset turnover	–	–	–	−2.4 pts	−0.5 pts	2.3 pts	1.5 pts	0.9 pts	−3.9 pts	−5.7 pts
From borrowing	–	–	–	0.4 pts	−0.1 pts	−2.2 pts	−1.3 pts	0.5 pts	−0.6 pts	−1.0 pts
Return on capital employed	–	–	17.9%	15.2%	18.3%	17.9%	21.9%	30.8%	29.3%	23.3%
Cash conversion	–	–	–	–	107.9%	103.8%	158.5%	132.1%	100.7%	100.5%
Interest cover	2.4	5.9	7.5	5.4	8.6	9.9	19.7	16.4	16.7	21.2
Debt to equity	–	–	0.10	0.17	0.10	0.01	0.01	0.00	0.01	0.00
Receivable days	–	–	39	47	67	42	29	21	29	32
Inventory days	–	–	72	110	101	93	99	100	83	100
Payable days	–	–	94	131	125	101	119	124	130	151
Cash conversion cycle, days	–	–	16	26	42	35	9	−4	−18	−20
Working capital days	–	–	6	16	20	19	−1	−16	−20	−26
Asset turnover	–	–	1.51	1.26	1.22	1.39	1.50	1.55	1.36	1.10
Assets per rupee of net worth	–	–	2.03	2.09	2.08	1.83	1.72	1.75	1.72	1.64
Sales per rupee of plant	–	–	4.10	2.90	2.95	3.73	4.56	5.20	4.76	4.30
Capital spending to depreciation	–	–	–	–	3.10	2.45	4.10	7.53	7.81	2.65
Plant being built, % of plant in use	–	–	2.5%	4.9%	3.0%	5.6%	5.2%	7.8%	4.0%	6.4%

No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 13.9%
Cash from operations against operating profit: 82.8%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	17.8%	21.7%	15.0%
Profit growth, yearly rate	45.2%	39.1%	34.2%
Return on equity, average	–	23.8%	27.4%
Return on capital employed, average	–	24.6%	27.8%
Operating margin, average	10.3%	12.8%	14.8%
Net margin, average	7.3%	10.1%	12.1%
Asset turnover, average	–	1.38	1.34
Cash conversion cycle, days, average	–	0	−14
Interest cover, average	11.4	16.8	18.1
Debt to equity, average	–	0.01	0.00

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	1,646	1,263	417
Cash from investing	−1,520	−1,101	−350
Cash from financing	−95	−120	−52
Capital spending	601	489	93
Dividends paid	72	60	24
Shares bought back	5	5	0
Shares issued for cash	132	0	0
Borrowings raised	–	2,257	692
Borrowings repaid	2,793	2,263	706

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	7	7	6	8	5	6
Altman Z-scorePublished threshold 1.81	–	–	4.39	2.60	4.29	5.90	7.10	13.88	11.07	6.92
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.05	−2.32	−3.10	−2.66	−1.94	−2.52
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	0.99	16.90	8.06	13.96	15.57	11.66
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.31	1.35	1.23	1.10
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	16.11	46.37	−48.80	−42.80	−37.89	46.89	8.82
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	44.69	−9.29	−10.61	8.10	0.49	−19.31	20.12
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	0.09	−1.15	1.80	−0.26	0.42	0.95	−0.29
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.23	0.39	0.66	0.45	0.40	0.17	0.48
Effective tax ratePublished threshold 17.16 per cent	20.51	29.70	33.47	22.87	26.19	23.53	25.99	24.37	25.47	25.44
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−0.42	−1.78	0.72	1.17	−2.51

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
15 Jan 2026	ICRA Limited (opens in a new tab)	Commercial Paper	[ICRA]A1+ / -Review, Re-affirm		35
15 Jan 2026	ICRA Limited (opens in a new tab)	Interchangeable limits-Others	[ICRA]AA /[ICRA]A1+Review, Re-affirm	Stable	55
15 Jan 2026	ICRA Limited (opens in a new tab)	Fund-based-Cash credit	[ICRA]AA /[ICRA]A1+Review, Re-affirm	Stable	175
15 Jan 2026	ICRA Limited (opens in a new tab)	Non-fund based-Others	[ICRA]AA /[ICRA]A1+Review, Re-affirm	Stable	591

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.