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Action Construction Equipment Q1 Review - Sturdy Performance: ICICI Direct

Action Construction Equipment Q1 Review - Sturdy Performance: ICICI Direct

<div class="paragraphs"><p>Mobile cranes manufactured by Action Construction Equipment Ltd. (Source: Company website).</p></div>
Mobile cranes manufactured by Action Construction Equipment Ltd. (Source: Company website).

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Direct Action Construction Q1FY22 Result Update.pdf

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