Action Construction Equipment - Robust Q4 Performance But Small Bump Ahead: ICICI Direct
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ICICI Direct Report
Action Construction Equipment Ltd. reported robust Q4 FY21 numbers led by strong performance from all segments.
Margins improved on a YoY basis but were down sequentially on account of higher input cost.
Revenue for the quarter came in at Rs 457.4 crore, up 49.7% YoY, 14% QoQ.
Gross margins contracted ~239 basis points YoY, ~156 bps QoQ on account of the recent run up in steel prices.
Employee cost was down 18% YoY while other expenses increased 30% YoY.
Consequently, Ebitda increased 82.4% YoY to Rs 50 crore with an expansion of ~196 bps YoY and contraction of 36 bps QoQ in Ebitda margins which came in at 10.9%.
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