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Action Construction Equipment

ACE NSE
₹1,104.75 +54.20 (+5.16%)
P/E
30.12
View as Markdown
MCP
Close 4 Nov 2026 ₹1,104.75 +32.75 +3.06% 1Y
Start ₹1,072.00

Key Fundamentals

MicrocapAgricultural Commercial & Construction VehiclesCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
31.60%
Debt to Equity
0.00
EPS (TTM)
₹36.68
Book Value
₹169.45
Market Cap
—
P/E (TTM)
30.12
P/B
6.52
ROE
22.80%
Dividend Yield
0.19%
EBITDA
₹614 Cr
52W High
₹1,268.00
52W Low
₹745.10
Day Range
₹1,035.00 – ₹1,121.85
Volume
3,71,992

Peer Comparison

Industrials › Automobiles › Commercial Vehicles › Construction Vehicles

Action Construction Equipment peer comparison
BEML
₹2,123.0099.07₹17,249 Cr6.030.83%4.78%7.66%₹4,536 Cr₹179 Cr
Action Construction Equipment (this company)
₹1,104.7530.12₹12,990 Cr6.520.19%22.80%31.60%₹3,414 Cr₹436 Cr
Ajax Engineering
₹559.9528.11₹6,350 Cr4.600.00%17.80%23.90%₹2,111 Cr₹228 Cr
TIL
₹208.21—₹1,687 Cr13.950.00%−26.00%2.90%₹377 Cr−₹29 Cr
Indo Farm Equipment
₹123.2623.75₹577 Cr1.060.00%4.82%7.70%₹454 Cr₹25 Cr
Brady & Morris Engineering Company
₹548.7525.68₹123 Cr2.330.00%10.70%14.10%₹71 Cr₹5 Cr
Median 6 companies₹554.3528.11₹4,018 Cr5.320.00%7.76%10.90%₹1,283 Cr₹102 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

60 Good

Data confidence 100/100

Category scores

Quality
73
Strong
Returns, margins, earnings quality 22% weight
Valuation
56
Good
Cheap vs sector & own history 24% weight
Growth
27
Poor
Sales & profit trajectory 9% weight
Financial Health
74
Strong
Solvency, leverage, coverage 9% weight
Momentum
54
Average
Trend strength, vol-adjusted 12% weight
Ownership
69
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

5
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 40.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.6%
  • Company has been maintaining a healthy dividend payout of 94.2%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish559
OscillatorsBearish351
Moving AveragesStrong Bullish208

Key readings

RSI (14)
50.69
Neutral
MACD (12,26,9)
−35.96
Bearish
SMA (50)
1,143.67
Bearish
SMA (200)
980.83
Bullish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+17.81%
5Y+21.73%
3Y+14.94%
1Y−1.41%
TTM+5.21%

Net profit

Net profit growth by window
10Y+46.68%
5Y+38.99%
3Y+33.87%
1Y+1.47%
TTM+2.83%

Operating cash flow

Operating cash flow growth by window
10Y+22.02%
5Y+37.13%
3Y+15.03%
1Y+1.21%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+10.50 pp
5Y+5.67 pp
3Y+5.14 pp
1Y+0.16 pp
TTM+0.06 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹751 Cr
Mar 2018₹1,087 Cr
Mar 2019₹1,343 Cr
Mar 2020₹1,156 Cr
Mar 2021₹1,227 Cr
Mar 2022₹1,630 Cr
Mar 2023₹2,160 Cr
Mar 2024₹2,914 Cr
Mar 2025₹3,327 Cr
Mar 2026₹3,280 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹14.00 Cr
Mar 2018₹52.00 Cr
Mar 2019₹56.00 Cr
Mar 2020₹52.00 Cr
Mar 2021₹80.00 Cr
Mar 2022₹105 Cr
Mar 2023₹173 Cr
Mar 2024₹328 Cr
Mar 2025₹409 Cr
Mar 2026₹415 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹580 Cr −5.6% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 15 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of the 2026-10-15 close, Action Construction Equipment Ltd trades at ₹1,155.7, giving it a market cap of ₹13,762.44 Cr, a TTM P/E of 31.51 and a P/B of 6.82. The company has no debt and returns on capital are strong, with ROCE at 28.46% and ROE at 20.64%. Its 5-year sales and profit CAGRs are 22% and 40%. However, growth has slowed sharply on a TTM basis, to 5% for sales and 3% for profit, and ROE has fallen from its 3-year average of 27%.

Bull Case 7
  • The balance sheet has no leverage. Debt-to-equity is 0 and the company has reduced its debt, so it carries little financial risk in a cyclical capital-equipment business.
  • Profits have grown fast over long periods: 40% CAGR over 5 years, 48% over 10 years and 38% over 3 years. This points to sustained margin expansion and operating leverage.
  • Capital efficiency is high. ROCE is 28.46% and ROE is 20.64%, with ROE averaging 24% over 5 years and 21% over 10 years.
  • Revenue growth has been strong over multiple years: 22% CAGR over 5 years, 18% over 10 years and 15% over 3 years. This suggests the company has gained scale and market share across cycles.
  • The stock has a long record of shareholder returns, with price CAGR of 39% over 10 years, 36% over 5 years and 20% over 3 years.
  • The stock has rallied about 55% from its 52-week low of ₹745.1 to ₹1,155.7, which shows market interest has recovered.
  • A P/E of 31.51 sits well below the 3-year profit CAGR of 38%. If growth goes back to its historical trend, the earnings multiple could look less stretched.
Bear Case 8
  • Growth has slowed sharply. TTM sales growth is 5% against a 3-year CAGR of 15%, and TTM profit growth is 3% against a 3-year CAGR of 38%.
  • The valuation is high compared with current growth. A TTM P/E of 31.51 on 3% TTM profit growth means an earnings yield of only about 3.2% (EPS ₹36.68 / price ₹1,155.7).
  • The P/B of 6.82 means the stock trades at a large premium to book value, about ₹169 per share implied. That leaves little valuation cushion if returns weaken further.
  • ROE is falling. The current 20.64% compares with 23% last year and a 3-year average of 27%, which may indicate margins or asset turns are normalising.
  • The dividend yield is only 0.17%. At a P/E of 31.51, that implies a payout of roughly 5% of EPS, so shareholders rely almost entirely on price appreciation. The listed 94.2% payout figure is inconsistent with these numbers and should be verified.
  • Recent stock returns have lagged. The 1-year return of 12% is well below the 36% 5-year CAGR, consistent with slower earnings momentum.
  • The business is cyclical. Demand for cranes and construction and agricultural equipment depends on infrastructure spending and capex cycles, and 5% TTM sales growth suggests the cycle may already be cooling.
  • The stock is about 8.9% below its 52-week high of ₹1,268 and well above the low of ₹745.1. The wide 52-week range of about 41% of the low points to meaningful price volatility.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

17d ago

TL;DR: ACE is coming off a flat FY26 (revenue -1.4% to ₹3,280 crore, PAT +1.4% to ₹415 crore). Momentum is building: exports have risen to 7-8% of revenue, a defence order for 74 backhoe loaders is in hand, and FY27 domestic volume growth is guided at 10-12%. The main risks are West Asia shipping disruptions holding back Middle East exports, inflation and commodity pressure on demand, and heavy reliance on infrastructure and manufacturing (80-85% of revenue). The trend looks to be improving, and the key things to watch are delivery on the 15% export target, execution of value-accretive acquisitions, and a sustained domestic recovery in H2 FY27.

Headwinds 4
  • West Asia conflict delays exports Sep 20

    Shipping disruptions tied to the West Asian conflict have held up Saudi distributor stock orders that have been ready since March. Management estimates this cost 2-3 percentage points of export share, which could otherwise have reached 8-10% of revenue this year instead of 7-8%.

  • FY26 revenue dipped 1.4% Sep 20

    Consolidated FY26 revenue fell 1.4% YoY to ₹3,280 crore, while PAT grew only 1.4% to ₹415 crore, which points to a flat year.

  • Inflation, commodity uncertainty weigh demand Sep 20

    Management said inflation and uncertain commodity prices are keeping the market below its full potential, after a subdued Q1 FY27.

Positives 5
  • Export share to double to 15% Sep 20

    ACE aims to lift exports from about 7-8% of revenue (H1 FY27) to 15% within 2-3 years, up from 5% in FY26. It is expanding into Mexico, North America, Australia and Europe beyond its usual Africa, LatAm and SAARC markets.

  • Defence order: 74 backhoe loaders Sep 30

    ACE won an order from the Defence Ministry for 74 backhoe loaders. This strengthens its position in defence procurement, which it has named a strategic growth area.

  • FY27 domestic volumes guided 10-12% Sep 20

    Management expects domestic volumes to grow 10-12% in FY27, possibly more. Revenue should also benefit from a richer mix of larger machines and price hikes taken during the year.

Neutral 1
  • Analyst meet with Vallum Capital Sep 26

    ACE held a one-on-one meeting with Vallum Capital on Sep 30, 2026 at 11:00 am in Faridabad. This is routine investor engagement and does not move fundamentals.

Quarterly Results

₹ Cr
ACE quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
652
673
753
836
734
757
875
961
652
744
855
1,029
786
Expenses
570
584
650
706
636
648
740
797
559
635
725
857
668
Operating Profit
82
89
103
130
99
109
135
164
93
109
130
172
118
OPM %
13%
13%
14%
16%
13%
14%
15%
17%
14%
15%
15%
17%
15%
Other Income
16
17
23
21
28
34
30
8
51
29
36
−6
55
Interest
3
4
6
11
7
9
8
4
8
6
5
3
5
Depreciation
5
5
6
7
7
7
7
7
8
9
9
10
9
PBT
90
97
114
133
112
127
149
161
128
124
152
153
158
Tax %
25%
24%
23%
26%
25%
25%
25%
26%
23%
27%
23%
28%
25%
Net Profit
68
74
88
98
84
95
112
119
98
90
116
111
119
EPS (₹)
5.67
6.21
7.41
8.27
7.07
7.96
9.38
9.96
8.21
7.56
9.78
9.31
10.03

Profit & Loss

₹ Cr
ACE profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
599
637
751
1,087
1,343
1,156
1,227
1,630
2,160
2,914
3,327
3,280
3,414
Expenses
580
607
712
995
1,245
1,065
1,108
1,478
1,939
2,510
2,821
2,776
2,885
Operating Profit
19
31
39
92
98
92
119
151
221
404
506
504
529
OPM %
3.1%
4.8%
5%
8%
7%
8%
10%
9%
10%
14%
15%
15%
16%
Other Income
12
10
8
8
10
4
15
11
41
77
100
110
114
Interest
13
14
16
14
12
15
12
10
10
23
29
22
19
Depreciation
10
11
12
12
12
13
14
15
18
23
28
35
36
PBT
8
15
19
74
84
68
108
137
234
434
549
557
587
Tax %
35%
42%
27%
30%
33%
23%
26%
24%
26%
24%
25%
25%
—
Net Profit
5
9
14
52
56
52
80
105
173
328
409
415
437
EPS (₹)
0.67
0.85
1.31
4.44
4.78
4.63
7.03
8.82
14.41
27.56
34.36
34.86
36.68
Div. Payout %
30%
24%
23%
11%
10%
11%
7%
7%
7%
7%
139%
137%
—

Balance Sheet

₹ Cr
ACE balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
23
23
23
23
23
23
24
24
24
24
24
Reserves
272
259
311
359
414
420
501
730
895
1,206
1,591
1,987
Borrowings
138
154
114
78
53
82
55
31
7
4
16
8
Other Liabilities
180
183
229
356
396
429
477
497
674
934
1,079
1,232
Total Liabilities
609
620
677
817
887
954
1,055
1,282
1,600
2,169
2,710
3,251
Fixed Assets
283
315
346
337
341
412
429
452
487
580
716
781
CWIP
7
2
7
5
8
19
13
24
24
44
29
49
Investments
14
17
18
35
45
28
31
179
349
594
918
1,283
Other Assets
305
286
305
439
493
494
582
627
739
951
1,048
1,138
Total Assets
609
620
677
817
887
954
1,055
1,282
1,600
2,169
2,710
3,251

Cash Flow

₹ Cr
ACE cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
40
57
76
89
72
48
86
104
274
433
412
417
Investing
−14
−25
−17
−35
−27
−20
−16
−201
−218
−368
−382
−350
Financing
−26
−33
−57
−53
−44
−33
−40
71
−41
−39
−29
−52
Net Cash Flow
−1
0
2
1
2
−5
30
−27
16
27
1
15
Free Cash Flow
26
32
61
59
49
10
70
59
238
268
206
330
CFO/EBITDA
226
186
204
114
96
70
93
90
154
133
108
114

Ratios

ACE financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
49
47
51
57
39
47
67
42
29
21
29
32
Inventory Days
119
102
78
69
79
124
113
104
99
100
83
100
Days Payable
98
93
102
112
105
147
141
129
119
124
130
151
Cash Conversion Cycle
70
56
27
14
14
24
39
18
9
−4
−18
−20
Working Capital Days
−17
−19
−10
1
4
2
11
18
−2
−17
−21
−26
ROCE %
3%
6%
8%
19%
20%
16%
21%
21%
26%
42%
40%
32%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Action Construction Equipment insights

63 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 65.42%
  • Public 18.96%
  • FIIs 8.46%
  • Others 4.11%
  • DIIs 3.05%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Action Construction Equipment

What does Action Construction Equipment Ltd do?
Action Construction Equipment Ltd is engaged in the business of manufacturing and marketing of hydraulic mobile cranes, mobile tower cranes, material handling equipment like forklifts, road construction equipment like backhoe loaders, compactors, motor graders and agriculture equipment like…
Where is Action Construction Equipment Ltd (ACE) listed?
Action Construction Equipment Ltd trades as ACE on the NSE and under code 532762 on the BSE.
Which sector does Action Construction Equipment Ltd belong to?
Action Construction Equipment Ltd is classified under the Automobiles sector, in the Commercial Vehicles industry.
What is the PE ratio of Action Construction Equipment Ltd?
Action Construction Equipment Ltd trades at a PE ratio of 30.12 as of 4 Nov 2026, on earnings per share of ₹36.68, against a book value of ₹169.45 per share.
What is the 52-week high and low of Action Construction Equipment Ltd?
Over the last 52 weeks Action Construction Equipment Ltd has traded between ₹745.1 and ₹1,268 as of 4 Nov 2026.
Does Action Construction Equipment Ltd pay dividends?
Action Construction Equipment Ltd has a dividend yield of 0.19%.
What is the Return on Equity (ROE) of Action Construction Equipment Ltd?
Action Construction Equipment Ltd reported a return on equity of 22.80%. Its debt-to-equity ratio is 0.00.

Company Information

Action Construction Equipment Ltd is engaged in the business of manufacturing and marketing of hydraulic mobile cranes, mobile tower cranes, material handling equipment like forklifts, road construction equipment like backhoe loaders, compactors, motor graders and agriculture equipment like tractors, harvesters, rotavators, etc. It was incorporated in 1995 and concluded its IPO in 2006.

Website ace-cranes.com
CEO Mr. Vijay Agarwal MBA
Employees 1,492
Listed 26 Sep 2006
Face Value ₹2

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