Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Sep - Schedule of Analyst/Investor meet is attached herewith
Source: Bse
Action Construction Equipment Limited (ACE)
Large CapIndustrials stocks · Large cap · NSE
Action Construction Equipment (ACE) is India's diversified CE manufacturer, a global leader in Pick & Carry cranes (63% market share) and domestic leader in Tower Cranes (60%). It serves infra, construction, logistics, manufacturing, defense, and agri sectors, with a wide product portfolio and presence in over 37 countries.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result20 Jul, 10:28 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
56NeutralSMA20 +5.7% / mo · MACD −
Stock trend: 59
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ACED candles · FIT view+22.1%Latest close ₹1108.10 on 2026-10-19
Bar
-2.7%
RSI
36
MACD hist
-15.28
52W pos
69%
2026-10-19O ₹1139.00H ₹1140.40L ₹1100.10C ₹1108.10Vol 3.1L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ACENifty India ManufacturingNifty 500
- ACE
- +11.7%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +17.3 pp
Chart stats
19 Oct 2026- From 52W high
- -12.6%
- 52W range position
- 69%
- ATR (14)
- 3.9%
- Volume vs 20D
- 0.99x
- Avg traded value
- ₹34.6 Cr
- 20D price channel
- ₹1,100.1 - ₹1,268
₹1,268
₹745.1 - ₹1,268
₹42.8
Latest completed session
20-session average
31.1% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED60
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent75
Revenue +20.6% · PAT +21.4% YoY
Technical
Neutral56
Price trend and sector-relative-strength timing.
Valuation
Legacy model+23.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence81
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 75/100Rev +21% YoY · PAT +21% YoY · margin expansion
Filed 20 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹786 Cr | +20.6% | -23.6% |
| EBITDA | ₹118 Cr | +26.9% | -31.4% |
| Operating margin | 15.0% | +100 bps | -200 bps |
| PAT | ₹119 Cr | +21.4% | +7.2% |
| PAT margin | 15.1% | +11 bps | +435 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 32.70
- P/B
- 7.09
- EV/EBITDA
- 25.30
- Market Cap
- 14288.00Cr
Profitability
- ROE
- 22.80%
- ROCE
- 31.60%
- ROA
- 13.44%
- Dividend Y
- 0.17%
Growth (CAGR)
- Revenue 5Y
- 22.00%
- EPS 5Y
- 40.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 38.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 27.84×
- Altman Z
- 7.69
- Book Value
- 169.00
Cash Flow
- FCF Yield
- 0.47%
- FCF Positive Y
- 11/5
- OCF
- 417.00 Cr
- EPS TTM
- 36.68
Shareholding
- Promoter Hold
- 65.42%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 87%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 3,280-1.4% vs prev
Net Profit
₹ CrLatest: 415+1.5% vs prev
Return on Equity
%Latest: 1,729+6726.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 36. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~5.4% over last month) — short-term momentum positive.
- RSI(14) at 36 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 13% off 52W high · 49% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
77
RS percentile
Stage 2 UptrendEstablished S2
1M return
-9.9%
3M return
+11.7%
6M return
+18.6%
1Y return
+2.3%
RS 1D
-1
RS 20D
-3
Sector rank
#5
Industry rank
-
Stage evidence
- Price is 10.0% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.8%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
17 Jul 2026
S2 age
65 trading sessions
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 105.72-1.47%
RS vs Nifty 500106
Valuation & peers
U-Score 60 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 60 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · UNDERVALUEDValuation4/30
Growth21/25
Quality14/20
Balance Sheet11/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
-1
Raw sum
60
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
60/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 23.1%.
- Growth contributes 21/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Valuation is weaker at 4/30; verify the latest quarterly trend.
- Cash flow is weaker at 6/10; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
32.7
PB
7.1
EV/EBITDA
25.3
ROE
22.8%
ROCE
31.6%
FCF Yield
0.5%
Debt/Equity
0.0
MoS
+23.1%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
60
Previous: 60
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+23.1%
Previous: +23.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
60
60
60
60
60
60
60
60
60
60
60
60
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹373.46
-196.7% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹1,441.52
+23.1% MoS
PEG
0.83
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GUJAPOLLO
Small
Gujarat Apollo Industries Limited
Construction Machinery
match 56
12
78.7
1.0%
-1098%
OVERVALUED
READYMIX
SME
Readymix Construction Machinery Ltd.
Construction Machinery
match 46
60
8.0
11.5%
+78%
UNDERVALUED
AJAXENGG
Small
Ajax Engineering Limited
Construction & Engineering
match 30
45
29.5
17.8%
-16%
WATCHLIST
TEGA
Large
Tega Industries Limited
Retail
match 21
29
—
5.9%
-7317%
OVERVALUED
SCHNEIDER
Large
Schneider Electric Infrastructure Limited
Capital Goods
match 17
44
148.0
38.2%
-274%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-21T00:41:39.672Z
Management commentary snapshot
ACE reported strong Q1-FY27 results with Total Income up 19.5% YoY to INR 8,403 Mn, EBITDA up 19.9% YoY to INR 1,725 Mn, and PAT up 22.3% YoY to INR 1,195 Mn. Margins expanded significantly QoQ, with EBITDA margin at 20.53% and PAT margin at 14.22%.
ACE delivered robust Q1-FY27 performance, achieving best-ever Q1 revenues and margins, driven by strong CE segment growth and cost management. While macroeconomic tailwinds are cited, geopolitical tensions and commodity price inflation pose potential risks to sustained margin expansion. The KATO JV is a key development to watch.
Current business mix
Revenue by End-user Sector
Latest issuer-disclosed distribution across 4 reported categories.
Manufacturing & Logistics45.0%
Infrastructure35.0%
Real Estate13.0%
Agriculture7.0%
Growth engines
Indian Manufacturing & Infrastructure Sector
Company is 'Poised to capture Significant Growth Prospects in Indian Manufacturing & Infrastructure Sector'.
New Product Launches
Focused on new-age technology, new products feature intelligent equipment with AI-assisted tools to enhance performance, reliability and safety.
ACE-KATO Joint Venture
Dedicated heavy cranes platform combining ACE’s manufacturing/distribution strength with KATO’s global network and heavy crane technology leadership.
Government Capital Expenditure
GoI has budgeted total capital expenditure of ~INR 12.2 trillion for FY27 (BE) versus ~INR 11.0 trillion in FY26 (RE), implying ~11% YoY growth.
Capacity and execution
ACE-KATO Joint Venture Commencement
Commencement of ACE - KATO Joint Venture, creating a focused growth vehicle in the heavy cranes segment for domestic and international markets.
Tailwinds
Government Capital Expenditure
GoI has budgeted total capital expenditure of ~INR 12.2 trillion for FY27 (BE) versus ~INR 11.0 trillion in FY26 (RE), implying ~11% YoY growth.
PLI Schemes
Implemented PLI in 14 sectors with an outlay of INR 1.97 lakh crore to enhance domestic manufacturing & import substitution.
Infrastructure Creation
Continued Government emphasis on infrastructure creation, higher investments in roads, railways, urban infrastructure, manufacturing and logistics.
Scheme for Enhancement of Construction and Infrastructure Equipment (CIE)
New scheme introduced by Hon’ble FM will help the industry move closer towards self-reliance.
Headwinds
Geopolitical Tensions
Escalation of geopolitical tensions in West Asia has created a challenging operating environment.
Elevated Commodity Prices
Elevated crude oil and Commodity prices have created a challenging operating environment.
Supply Chain Disruptions
Supply chain disruptions have created a challenging operating environment.
Sharp Inflation
Sharp inflation has created a challenging operating environment.
Risk radar
Geopolitical Tensions
Escalation of geopolitical tensions in West Asia could impact the operating environment.
Commodity Price Volatility
Elevated crude oil and commodity prices could pressure margins.
Supply Chain Disruptions
Ongoing supply chain disruptions could affect production and delivery timelines.
Inflationary Pressures
Sharp inflation could increase operational costs and impact demand.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The company explicitly provides both YoY and QoQ comparisons for financial metrics and highlights sequential margin expansion. YoY is crucial for seasonal businesses like construction equipment, while QoQ indicates recent operational momentum and cost management effectiveness.
Sector KPIs management disclosed
Total Income
Q1-FY27: INR 8,403 Mn (19.5% YoY, -17.9% QoQ)
EBITDA
Q1-FY27: INR 1,725 Mn (19.9% YoY, 3.7% QoQ)
EBITDA Margin
Q1-FY27: 20.53% (7 Bps YoY, 428 BPS QoQ)
PAT
Q1-FY27: INR 1,195 Mn (22.3% YoY, 7.8% QoQ)
Management forward view
Best Ever Q1 Performance
The company achieved its best ever Q1 Revenues and Margins.
Robust CE Segment Growth
Robust growth in CE segment which grew by 21.96% YOY with margins at 18.16%.
Margin Expansion Drivers
Margins expanded sequentially, driven by prudent cost management and calibrated pricing action.
Intact Structural Growth Drivers
The structural growth drivers for the Indian Construction Equipment industry remain firmly intact.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 20.53% (Q1-FY27) | Sustained sequential expansion or impact from commodity prices and inflation. |
| CE Segment Growth | 21.96% YoY (Q1-FY27) | Continued robust growth, especially given QoQ volume decline in Q1-FY27. |
| Agricultural Equipment Volume | 440 units (Q1-FY27) | Recovery from the YoY and QoQ decline observed in Q1-FY27. |
| ACE-KATO JV Performance | Commencement of JV | Specific updates on market penetration, technology transfer, and financial contribution from the joint venture. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
revenue outlooknot yet verifiablequantified
Expect 14-15% revenue growth for FY26.
Timeframe: FY 26Direction: positiveConfidence: expected
"14-15% revenue growth expected for FY 26"
revenue outlookpartially deliveredquantified
Expect 14-15% revenue growth for FY26.
Timeframe: FY 26Direction: positiveConfidence: expected
"14-15% revenue growth expected for FY 26"
Outcome check: Revenue YoY averaged 5.9% across 4 later quarter(s).
revenue outlooknot yet verifiable
Anticipate a subdued start to current FY (FY26) due to ongoing geopolitical issues, tariff conflicts, CEV-5 (BS-5) emission norms with cost implications, and seasonal monsoon impact.
Timeframe: current FY (FY26) startDirection: negativeConfidence: anticipate
"anticipate a subdued start to current FY"
revenue outlookcontradicted
Anticipate a subdued start to current FY (FY26) due to ongoing geopolitical issues, tariff conflicts, CEV-5 (BS-5) emission norms with cost implications, and seasonal monsoon impact.
Timeframe: current FY (FY26) startDirection: negativeConfidence: anticipate
"anticipate a subdued start to current FY"
Outcome check: PAT YoY averaged 3.3% across 4 later quarter(s).
Trust Score
81Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Management has 50% delivered/partly-delivered outcomes on 2 checked claims, with 1 adverse claim outcome. It ranks around the 93rd percentile of the scored universe and 92nd percentile within Industrials. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
142 docs text-extracted · 54 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
93rd percentile
overall median 67 · Industrials: 92nd pctile, median 68 · Large: 82nd pctile, median 73
Evidence depth
Financial-only
142 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
50% delivered or partly delivered
2/2 claims checked · 1 contradicted/failed claim
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
80
strong · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 65.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.5%.
- ▸11 years of positive FCF.
Trust risks
- ▸ROCE trend is -6.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Action Construction Equipment Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Sep - Schedule of Analyst/Investor meet is attached herewith.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep - Schedule of Analyst/Investor meet is attached herewith
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug - Copy of Newspaper Publication is attached herewith
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.