Action Construction Equipment Limited (ACE)

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Action Construction Equipment Limited (ACE) · mywealthgrid

About

Action Construction Equipment Limited manufactures agricultural, commercial, and construction vehicles in India's industrials sector. With ₹12,929.5 Cr market cap and quarterly revenues of ₹750–1,050 Cr, the company maintains high profitability (15.36% OPM, 22.9% ROE) with zero debt. Operations are embedded in cyclical segments linked to infrastructure capex and farm-equipment demand.

Founded: 2009
Face value: ₹2

Market cap

₹14,438 Cr

P/E

33.1×

P/B

7.2×

Dividend yield

0.2%

ROE

22.9%

ROCE

31.6%

Debt / equity

OPM

15.4%

EPS (TTM)

₹36.7

Book value

₹168.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Seasonal revenue swings are material: June 2026 at ₹785.68 Cr represents 24% decline from March 2026 at ₹1,029.49 Cr, creating working-capital lumps and production-planning complexity
Construction and agricultural capex cycles depend on monsoons, commodity prices, and policy spending — verify near-term customer investment visibility
Operating margin of 15.36% could face compression if input costs rise — verify whether pricing power or product mix can sustain margins
High valuation (PE 29.6) with 1-year underperformance (–1.75%) signals market skepticism; verify whether growth trajectory justifies current multiples

Generated analysis · source review pending

Growth drivers

Debt-free capital structure (D/E 0) combined with 22.9% ROE has generated annual dividends since 2021 — verify if management deploys retained earnings into capacity expansion or new products
Operating margins stable at 15.36% mean over eight quarters (range 14.64–16.75%) provide cushion against cost pressures — verify if resilience reflects process improvements or favorable input cycles
Net profitability remains consistent even across seasonal swings (June 2026: ₹119.49 Cr, September 2025: ₹90.06 Cr) — verify what fraction of quarter-to-quarter variation comes from volume versus price
Quarterly revenue base of ₹750–1,050 Cr; verify market share position and whether equipment-replacement cycles are accelerating

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,212.3+0.5%1Y

Quick read

rule-based

Pros

+Strong return on equity of 27.4% (3-yr avg)
+High return on capital employed of 37.9%
+Profit CAGR of 39.1% over the last 5 years
+Revenue CAGR of 21.7% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 26.2×
+High promoter holding of 65.4% with no pledge

Cons

−Low dividend payout of 5.5% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

65/100

Business quality: 79
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Beml LimitedBEMLBEML	₹16,346 Cr	₹16,653 Cr	₹4,536 Cr	₹350 Cr	6.9%	₹82 Cr	3.3%	6%	4.9%	401
Action Construction Equipment LimitedACEACE	₹14,438 Cr	₹14,439 Cr	₹3,414 Cr	₹529 Cr	15.4%	₹437 Cr	12.7%	31.6%	22.9%	-20
Ajax Engineering LimitedAJAXENGGAJAXENGG	₹6,708 Cr	₹6,708 Cr	₹2,111 Cr	₹264 Cr	12.6%	₹228 Cr	10.7%	23.6%	17.7%	12
Til LimitedTILTIL	₹2,060 Cr	₹2,427 Cr	₹377 Cr	₹18 Cr	1.4%	₹-30 Cr	-9.5%	4.4%	-31.8%	372
Indo Farm Equipment LimitedINDOFARMINDOFARM	₹634 Cr	₹782 Cr	₹454 Cr	₹59 Cr	13.2%	₹25 Cr	5.6%	8.6%	4.5%	307
Brady & Morris Engineering Company LtdBRADYMBRADYM	₹148 Cr	₹153 Cr	₹38 Cr	₹3 Cr	9%	₹3 Cr	7.6%	15.8%	11.1%	192

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	797	1,099	1,343	1,156	1,227	1,630	2,160	2,914	3,327	3,280
COGS	529	768	980	894	962	1,307	1,536	2,023	2,273	2,214
Gross profit	268	331	363	262	265	322	624	891	1,054	1,066
	229	239	265	170	146	171	403	488	548	562
	39	92	98	92	119	151	221	403	506	504
OPM %	5%	8.3%	7.3%	7.9%	9.7%	9.3%	10.2%	13.8%	15.2%	15.4%
Depreciation	12	12	12	13	14	15	18	23	28	35
Interest	16	14	12	15	12	14	10	23	29	22
	8	8	10	4	15	15	41	77	100	110
Profit before tax	19	74	84	68	108	137	234	434	549	557
Tax	5	22	28	16	28	32	61	106	140	142
Tax %	27.1%	29.7%	33.5%	22.9%	26.2%	23.5%	26%	24.4%	25.5%	25.4%
	14	52	56	52	80	105	173	328	409	415
PAT margin %	1.8%	4.7%	4.2%	4.5%	6.5%	6.4%	8%	11.3%	12.3%	12.7%
EPS (₹)	—	—	—	4.6	7	9	14.4	27.6	34.4	34.9
EPS adjusted (₹)	1.3	4.4	4.8	4.6	7	8.8	14.4	27.6	34.4	34.9
	—	—	—	10.9%	7.1%	6.7%	6.9%	7.3%	5.8%	5.7%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	23	23	23	23	23	24	24	24	24	24
Reserves	296	311	414	—	501	730	895	1,206	1,591	1,987
Minority interest	—	—	0	—	0	0	2	2	2	0
	137	93	44	—	54	29	6	4	15	0
	193	250	405	—	478	499	673	934	1,080	1,241
Total equity & liabilities	648	677	887	—	1,055	1,282	1,600	2,169	2,711	3,252
	341	335	328	400	417	438	476	563	701	766
CWIP	2	7	8	—	13	24	24	44	28	49
Investments	17	18	45	—	43	191	360	610	933	1,298
	289	316	505	—	582	629	739	952	1,049	1,139
Total assets	648	677	887	—	1,055	1,282	1,600	2,169	2,711	3,252

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Cranes, Material Handling and Construction Equipment	2,953.16	550.38	1,355.55	1,009.31	346.24	158.96
Agriculture Equipment	262.24	2.53

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	27%	22.7%	21.6%	19.8%	28.9%	30.6%	31.7%	32.5%
EBITDA margin %	7.3%	7.9%	9.7%	9.3%	10.2%	13.8%	15.2%	15.4%
EBIT margin %	6.4%	6.8%	8.6%	8.3%	9.4%	13%	14.4%	14.3%
PAT margin %	4.2%	4.5%	6.5%	6.4%	8%	11.3%	12.3%	12.7%
Working capital
Receivable days	39	—	67	42	29	21	29	32
Inventory days	79	—	101	93	99	100	83	100
Payable days	105	—	125	115	119	124	130	151
NWC days	14	—	42	20	9	-4	-18	-20
Leverage
Current ratio	1.13	—	1.2	1.38	1.38	1.38	1.22	1.33
Debt to EBITDA	0.45	—	0.46	0.19	0.03	0.01	0.03	0
Debt to equity	0.1	—	0.1	0.04	0.01	0	0.01	0
Interest coverage	8.3	5.6	9.8	11	23.7	19.7	20.2	26.2
Asset turnover	1.51	—	1.16	1.27	1.35	1.34	1.23	1.01
Return ratios
Return on assets %	6.3%	—	7.6%	8.2%	10.8%	15.1%	15.1%	12.8%
Return on capital employed %	21.1%	—	21.4%	22.7%	28.6%	41.9%	40.2%	31.6%
Return on equity %	12.8%	—	15.2%	13.9%	18.8%	26.7%	25.3%	20.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.76%	66.76%	66.76%	65.41%	65.41%	65.41%	65.41%	65.41%	65.42%	65.42%	65.42%	65.42%
	8.95%	8.81%	9.35%	10.13%	10.48%	11.9%	11.58%	11.44%	10.37%	10.41%	9.58%	7.82%
	2.79%	2.62%	2.21%	1.8%	1.62%	1.75%	1.97%	2.05%	1.82%	1.76%	1.84%	2.59%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	21.47%	21.75%	21.62%	22.6%	22.42%	20.87%	20.97%	21.03%	22.33%	22.35%	23.1%	24.12%
No. of shareholders	—	—	—	—	—	—	—	—	1,81,766	1,81,846	1,81,542	1,83,575

Promoter holding down 1.34 percentage points since Sep 2023.

5 disclosures

Person	Deal	Shares	Value	Holding	Filed
Mr. Vijay AgarwalPromoters	BuyMarket Purchase	2,200	₹22.11 L	28.76% → 28.76%	20 Aug 20257(2)
Mr. Vijay AgarwalPromoters	BuyMarket Purchase	2,300	₹21.74 L

5 deals · 13 Sept 2021 – 25 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Aug 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	6,67,598	₹1,073.56	₹71.67 Cr
25 Aug 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	6,67,598	₹1,072.75	₹71.62 Cr
11 Jun 2024	MONA AGARWAL	Bulk	BSE	Sell	13,00,000	₹1,420.44	₹184.66 Cr
13 Sept 2021	XTX MARKETS LLP	Bulk	NSE	Buy	6,63,267	₹264.59	₹17.55 Cr
13 Sept 2021	XTX MARKETS LLP	Bulk	NSE	Sell	6,53,249	₹264.97	₹17.31 Cr

1–5 of 5

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Vijay AgarwalExecutive Director-Chairperson-MD
Mrs. Mona AgarwalExecutive Director
Rajan LuthraChief Financial Officer
Mr. Sorab AgarwalExecutive Director
Mrs. Surbhi GargExecutive Director
Mr. Avinash Parkash GandhiNon-Executive - Independent Director
Mrs. Divya SinghalNon-Executive - Independent Director
Mr. Shriniwas VashishtNon-Executive - Independent Director
Mr. Jagan Nath ChamberNon-Executive - Independent Director
Anil KumarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 10 fund houses

Held by these funds

1.15%

of the company's equity

All mutual funds

1.31%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

32 schemes · 10 fund houses

		Shares
Focused Fund	Old Bridge Mutual Fund	8.51 L	94.46	2.17%	0.714%	-0
Small Cap FundNEW	Helios Mutual Fund	1.39 L	15.41	0.89%	0.117%	—
Flexi Cap Fund	Old Bridge Mutual Fund	74,000	8.22	2.07%	0.062%	+13,000
IB60-Groww Small Cap Fund	Groww Mutual Fund	67,226	7.47	0.98%	0.056%	+64,940
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	65,605	7.29	0.21%	0.055%	+802
Nifty Smallcap250 Quality 50 Index Fund	DSP Mutual Fund	51,306	5.7	1.8%	0.043%	-47
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	33,342	3.7	0.21%	0.028%	+374
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	24,169	2.68	0.21%	0.02%	+219

1–8 of 32

1 / 4

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

45 announcementsExport CSV

30 Sept 2026, 1:58 pmCompany Update

ACE Backhoe Loaders For Ministry Of Defence

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	27%	22.7%	21.6%	19.8%	28.9%	30.6%	31.7%	32.5%
EBITDA margin %	7.3%	7.9%	9.7%	9.3%	10.2%	13.8%	15.2%	15.4%
EBIT margin %	6.4%	6.8%	8.6%	8.3%	9.4%	13%	14.4%	14.3%
PAT margin %	4.2%	4.5%	6.5%	6.4%	8%	11.3%	12.3%	12.7%
Working capital
Receivable days	39	—	67	42	29	21	29	32
Inventory days	79	—	101	93	99	100	83	100
Payable days	105	—	125	115	119	124	130	151
NWC days	14	—	42	20	9	-4	-18	-20
Leverage
Current ratio	1.13	—	1.2	1.38	1.38	1.38	1.22	1.33
Debt to EBITDA	0.45	—	0.46	0.19	0.03	0.01	0.03	0
Debt to equity	0.1	—	0.1	0.04	0.01	0	0.01	0
Interest coverage	8.3	5.6	9.8	11	23.7	19.7	20.2	26.2
Asset turnover	1.51	—	1.16	1.27	1.35	1.34	1.23	1.01
Return ratios
Return on assets %	6.3%	—	7.6%	8.2%	10.8%	15.1%	15.1%	12.8%
Return on capital employed %	21.1%	—	21.4%	22.7%	28.6%	41.9%	40.2%	31.6%
Return on equity %	12.8%	—	15.2%	13.9%	18.8%	26.7%	25.3%	20.6%

Date	Category	Subject	Filing
30 Sept 2026, 1:58 pm	Company Update General	ACE Backhoe Loaders For Ministry Of Defence	PDF
30 Sept 2026, 1:54 pm	Company Update General	Further Intimation - SEBI Circular Dated January 30, 2026 On Ease Of Doing Investment - Special Window For Transfer And Dematerialisation Of Physical Securities	PDF
19 Sept 2026, 4:02 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
18 Sept 2026, 5:26 pm	Company Update General	Chairman''s Speech At The 32Nd Annual General Meeting	PDF
18 Sept 2026, 5:17 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
15 Sept 2026, 4:45 pm	Company Update General	Dispatch Of Letter To Shareholders Whose E-Mail Addresses Are Not Registered With Company/Registrar & Transfer Agent/Depositories.	PDF
9 Sept 2026, 5:17 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
5 Sept 2026, 4:19 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	89	72	48	86	109	274	433	412	417
	-35	-27	-20	-16	-201	-218	-368	-383	-350
	-53	-44	-33	-40	65	-41	-39	-29	-52
Net cash flow	1	2	-5	29	-27	16	27	0	15
Free cash flow	70	48	-39	43	71	200	258	191	324
CFO / Operating profit %	97.7%	73.7%	52.4%	72.4%	71.9%	124.2%	107.5%	81.5%	82.8%

Action Construction Equipment Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

22

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Agri Equipment · revenue

Action Construction Equipment Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends22

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Agri Equipment · revenue

22

1