Action Construction Equipment Q2 Review - Strong Performance Led By Cranes Segment: ICICI Direct
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ICICI Direct Report
Action Construction Equipment Ltd.'s revenue for the quarter came in at Rs 360.9 crore, up 35% YoY and 12% QoQ. Segmental performance was as follows-
Crane segment revenue came in at Rs 241.4 crore versus Rs 166.4 crore in Q2 FY21 and Rs 222.1 crore in Q1 FY22. Ebit margins for the quarter were at 11.3%.
Construction equipment segment revenue came in at Rs 39.9 crore versus Rs 30.8 crore in Q2 FY21 and Rs 36.6 crore in Q1 FY22. Ebit margins for the quarter were at 5.2%.
Material handling segment revenue came in at Rs 37.5 crore versus Rs 26.5 crore in Q2 FY21 and Rs 33.1 in Q1 FY22 with Ebit margins of 12%.
Agri segment revenue came in at Rs 42.1 crore versus 44.7 crore in Q2 FY21 and Rs 29.6 crore in Q1 FY22.
Action Construction Equipment's gross margins increased ~10 basis points YoY and ~135 bps QoQ.
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