Action Construction Equipment Q1 Review - Sturdy Performance: ICICI Direct
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ICICI Direct Report
Action Construction Equipment Ltd. reported a decent set of numbers amid a disrupted quarter.
Revenue for the quarter came in at Rs 321.5 crore, up 218% YoY and down 29.7% QoQ.
Gross margins contracted ~ 220 basis points YoY and ~ 55 bps QoQ.
Ebitda margins came in at 9.4% versus 10.9% QoQ.
Absolute Ebitda came in at Rs 30.2 crore, down 39.5% QoQ versus a loss in Q1 FY21.
Ensuing profit after tax came in at Rs 19.3 crore versus 38.8 crore in Q4 FY21 and a loss in Q1 FY21.
The board has considered and approved raising of funds via private placement or qualified institutional placements for an aggregate amount of Rs 175 crore.
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