The company's annual sales increased by 34.92% YoY, reaching Rs 2913.80 crore in FY24, up from Rs 2159.68 crore in the previous year.
22 May 2024 | 2437 Views | By Autocar Pro News Desk
Haryana-based Action Construction Equipment (ACE) expects its revenue during FY25 to grow by 15-20%, despite the potential short-term impacts of the ongoing general election and the upcoming monsoon season.
The ACE's annual sales increased by 34.92% YoY, reaching Rs 2913.80 crore in FY24, up from Rs 2159.68 crore in the ...
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Haryana-based Action Construction Equipment (ACE) expects its revenue during FY25 to grow by 15-20%, despite the potential short-term impacts of the ongoing general election and the upcoming monsoon season.
The ACE's annual sales increased by 34.92% YoY, reaching Rs 2913.80 crore in FY24, up from Rs 2159.68 crore in the previous year. The company's net profit during the same period jumped a record 91.22% to Rs 328.16 crore in FY24, compared to Rs 171.61 crore in FY23.
On a quarterly basis, ACE's revenues during Q4 FY24 saw a spike of 36.17% to Rs 835.84 crore, up from Rs 613.84 crore in Q4-FY23.
Offering a breakdown of sales of their products, ACE management highlighted that its construction equipment revenues surged by 54.82% YoY. The revenues from cranes grew by 37.75% YoY. The material handling segment likewise increased by 8.6% YoY. Similarly, the agriculture division witnessed a growth of 12.6% YoY. Lastly, exports contributed with 72% YoY growth.