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Action Construction Equipment Limited (ACE)

₹1,136.30 -1.68% last close, 16 Oct

📊 NSE: ACE 🏢 Engineering 📢 Latest filing: 30 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Action Construction's revenue was ₹786 Cr (+20.5% year on year, -23.6% on the previous quarter), and net profit ₹119 Cr (+22.3% year on year); the operating margin was 15.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹786	+20.5%	-23.6%
Operating profit	₹118	+27.0%	-31.5%
Net profit	₹119	+22.3%	+7.6%
EPS (₹)	10.04	+22.3%	+7.8%
Operating margin	15.0%	—	—

Full quarterly financials → Results calendar →

ACE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 47.02% of the ACE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.73%. That is close to its usual level.

47.02%Delivery, 16 Oct

44.73%Own 20-session average

0.7×Volume vs its average

₹1,136.30NSE close · -1.68%

Delivery in the last 5 sessions: 49.6% · 41.0% · 40.4% · 47.3% · 47.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

ACE Issues Reminder on SEBI Special Window for Physical Share Dematerialisation

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 30 Sep 2026, 01:48 PM

Action Construction Equipment Limited (ACE) has released a compliance intimation regarding SEBI's circular for the transfer and dematerialisation of physical securities. The special window allows eligible shareholders to process physical shares sold or purchased prior to April 01, 2019. This window is active from February 05, 2026, to February 04, 2027, with shares credited directly in demat mode under a one-year lock-in. The disclosure is purely procedural and carries no financial impact on ACE's business operations.

Special window open from February 05, 2026 to February 04, 2027
Applicable only to physical transfers executed prior to April 01, 2019
Dematerialised shares subject to a mandatory lock-in period of 1 year
RTAs and listed entities required to process eligible transfer requests within 70 days

💡 Physical share transferees eligible under the pre-April 2019 criteria should submit their transfer deeds and KYC to Skyline Financial Services before February 04, 2027. Regular equity investors do not need to take any action.

ACE Issues Reminder on SEBI Special Window for Physical Share Dematerialisation

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 30 Sep 2026, 01:41 PM

Special window open from February 05, 2026 to February 04, 2027
Applicable only to physical transfers executed prior to April 01, 2019
Dematerialised shares subject to a mandatory lock-in period of 1 year
RTAs and listed entities required to process eligible transfer requests within 70 days

ACE AGM: Shareholders Approve ₹2/Share Dividend and Section 186 Investment Limits

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 19 Sep 2026, 04:15 PM

Action Construction Equipment Limited (ACE) has submitted the voting results and scrutinizer report for its 32nd AGM held on September 18, 2026. Shareholders approved all agenda items, including a final dividend of ₹2.00 (100%) per equity share for FY26. A special resolution under Section 186 allowing loans, guarantees, and securities acquisition beyond statutory limits was approved with 93.27% votes in favor, despite 55.84% institutional opposition. The re-appointment of Director Sorab Agarwal was also cleared.

Declared final dividend of ₹2.00 per share (100%) for FY26 approved with 99.99% votes in favor
Special resolution to exceed Section 186 limits passed with 93.27% overall votes in favor
Institutional investors voted 55.84% against the Section 186 loan/investment resolution (61,54,150 votes against)
Re-appointment of Director Sorab Agarwal passed with 99.59% favorable votes among polled shares
Overall voter turnout stood at 77.39% of total outstanding shares (9,21,54,212 votes polled)

💡 Track the upcoming dividend payout timeline and monitor future corporate disclosures for any material acquisitions or loans executed under the newly authorized Section 186 limits.

ACE 32nd AGM: FY26 Standalone PAT Up 5.4% to ₹425.42 Cr; Recommends 100% Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 04:37 PM

Action Construction Equipment (ACE) submitted its Chairman's speech delivered at the 32nd AGM on September 18, 2026. Standalone FY26 revenue stood at ₹3,273.68 crore compared to ₹3,320.32 crore in FY25, while EBITDA rose to ₹622.36 crore and PAT expanded 5.4% to ₹425.42 crore (EPS of ₹35.75). The company maintained leadership in domestic cranes with >63% market share in mobile cranes and ~60% in tower cranes, and confirmed its 50:50 joint venture 'ACE KATO Private Limited' has commenced operations. A final dividend of 100% (₹2.00 per share) was recommended for shareholder approval.

FY26 standalone revenue reached ₹3,273.68 crore vs ₹3,320.32 crore in FY25, while PAT grew to ₹425.42 crore from ₹403.64 crore
Board recommended a 100% final dividend of ₹2.00 per equity share of face value ₹2
Maintains >63% market share in Mobile Cranes and ~60% in Tower Cranes across India
50:50 heavy crane JV 'ACE KATO Private Limited' has operationalized
Export footprint spans across 37 countries in Middle East, Africa, Asia, and Latin America

💡 Track shareholder approval of the ₹2.00/share dividend and monitor order flow execution in the Defence sector and ramp-up in the ACE-KATO joint venture.

ACE Holds 32nd AGM; Table Includes Rs 2.00/Share Dividend and Section 186 Lending Limits

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 04:20 PM

Action Construction Equipment Limited (ACE) concluded its 32nd Annual General Meeting on September 18, 2026. Key ordinary items included the adoption of FY26 financial statements and approval of a final dividend of Rs 2.00 per share (100% of face value). Additionally, special business was tabled seeking approval under Section 186 to exceed standard limits for loans, guarantees, and securities investments. Final voting outcomes will be disclosed separately.

32nd AGM conducted via video conferencing on September 18, 2026, starting at 12:00 Noon and concluding at 1:38 p.m.
Final dividend of Rs 2.00 (100%) per equity share tabled for shareholder approval for FY26
Special resolution presented to exceed limits under Section 186 of the Companies Act, 2013 for loans, guarantees, and securities investments
Adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026

💡 Watch for the formal scrutinizer's report and voting results filing to confirm approval of all resolutions, particularly the Section 186 investment and lending mandate.

ACE Dispatches Notice & Annual Report Web Link to Shareholders for 32nd AGM on Sept 18, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 15 Sep 2026, 04:51 PM

Action Construction Equipment Limited (ACE) has submitted a compliance intimation regarding the dispatch of letters to shareholders whose email addresses are not registered. The communication provides a website link and QR code to access the FY 2025-26 Annual Report and the notice for its 32nd Annual General Meeting. The AGM is scheduled to take place on Friday, September 18, 2026, at 12:00 Noon IST via Video Conferencing/OAVM. This is a purely administrative disclosure pursuant to SEBI LODR Regulations 30 and 36(1)(b).

32nd Annual General Meeting scheduled for Friday, September 18, 2026 at 12:00 Noon (IST)
Filing covers shareholder communication for accessing the FY 2025-26 Annual Report
Notice sent to shareholders without registered emails with instructions to update records via Skyline Financial Services or DPs
Meeting to be conducted entirely via Video Conferencing (VC) / Other Audio Visual Means (OAVM)

💡 Shareholders may track the AGM proceedings on September 18, 2026, and review the FY 2025-26 Annual Report for management's detailed commentary on capex and growth targets.

ACE Schedules 1-on-1 Virtual Investor Meet with Systematix Asset Management on Sept 8, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 04:24 PM

Action Construction Equipment Limited (ACE) has announced an institutional investor meeting scheduled for September 08, 2026, at 01:30 PM. The interaction will be a one-on-one virtual meeting with Systematix Asset Management. This filing is a routine intimation under Regulation 30 of the SEBI Listing Regulations.

Meeting scheduled for September 08, 2026, at 01:30 P.M.
Interaction type is a One-on-One virtual meeting
Meeting conducted with Systematix Asset Management
Filing submitted pursuant to Regulation 30 of SEBI LODR Regulations

💡 Look out for any post-meet presentations or disclosures submitted to the exchanges if material discussions occur.

ACE Schedules One-on-One Investor Meet with Baroda BNP MF on September 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 10:12 PM

Action Construction Equipment Limited (ACE) has submitted an intimation under Regulation 30 of the SEBI Listing Regulations regarding an upcoming institutional investor meeting. The company is scheduled to host a one-on-one meeting with Baroda BNP MF on September 7, 2026, at 03:00 PM in Palwal. This is a routine institutional interaction and no unpublished price-sensitive information is expected to be shared. The schedule remains subject to changes depending on exigencies from either party.

One-on-one meeting scheduled with Baroda BNP MF on September 07, 2026
Meeting time confirmed for 03:00 P.M. at Palwal
Intimation submitted under Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Track subsequent post-meet presentation or disclosure filings, if any are uploaded to the exchanges following the interaction.

ACE Schedules 1-on-1 Investor Meeting with Sparx Capital on Sep 2, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 03:51 PM

Action Construction Equipment Limited (ACE) has submitted an intimation regarding a scheduled one-on-one meeting with institutional investor Sparx Capital. The meeting is scheduled for September 02, 2026, at 11:30 AM at Palwal. This is a standard compliance filing under Regulation 30 of SEBI (LODR) Regulations, 2015, and carries no direct financial or operational updates.

One-on-one institutional investor meet scheduled with Sparx Capital
Meeting date: September 02, 2026, at 11:30 AM
Meeting venue: Palwal, Haryana

💡 Track post-meet investor presentations or exchange disclosures for any new forward-looking commentary on capacity plans or demand trends.

ACE submits FY 2025-26 Business Responsibility and Sustainability Report with Core Assurance

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Aug 2026, 05:58 PM

Action Construction Equipment Limited (ACE) has submitted its standalone Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 along with reasonable assurance on BRSR Core indicators provided by SGS India Private Limited. The report indicates that Construction Equipment accounted for 92.34% of turnover while Agri Machinery contributed 7.66%, with exports generating 6.20% of total revenue. The workforce consists of 1,500 permanent employees and 3,832 non-permanent workers across 8 manufacturing plants and 17 offices. Standalone FY 2025-26 turnover was reported at ₹3,273.68 Cr with a net worth of ₹2,001.19 Cr.

Construction Equipment generated 92.34% of turnover, while Agri Machinery accounted for 7.66%
Exports contributed 6.20% to total turnover across more than 37 destination countries
Company operates 8 manufacturing plants (6 located at Dudhola) and 17 national offices
FY 2025-26 standalone turnover stood at ₹3,273.68 Cr against a net worth of ₹2,001.19 Cr
BRSR Core indicators received reasonable assurance from third-party auditor SGS India Private Limited

💡 This is a statutory ESG compliance filing requiring no immediate investment action; investors should track core quarterly operational execution and updates on the 50:50 ACE KATO JV.

ACE Convenes 32nd AGM on Sept 18, 2026; Proposes ₹2/Share Dividend & ₹3,000 Cr Investment Limit

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Aug 2026, 05:54 PM

Action Construction Equipment Limited (ACE) has released the notice for its 32nd Annual General Meeting scheduled for September 18, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 financial statements and approval of a final dividend of ₹2.00 per equity share (100% of face value ₹2). Additionally, the company seeks shareholder approval via special resolution to raise its Section 186 limit for loans, guarantees, and securities investments up to ₹3,000 crore (equivalent to ~150% of its ₹2,001 crore net worth).

32nd AGM scheduled for Friday, September 18, 2026, at 12:00 Noon IST via Video Conferencing.
Proposed final dividend of ₹2.00 per equity share (100% on face value of ₹2) for FY26.
Special resolution proposed to authorize loans, guarantees, and securities investments under Section 186 up to ₹3,000 crore.
Cost auditor remuneration ratification of ₹1,75,000 plus taxes for M/s Vandana Bansal & Associates for FY27.

💡 Track the e-voting timeline and final voting results post-AGM on September 18, 2026, alongside the dividend payout timeline.

ACE Fixes Sept 3, 2026 Record Date for Final Dividend; 32nd AGM on Sept 18

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Aug 2026, 04:25 PM

Action Construction Equipment Limited (ACE) has announced that its 32nd Annual General Meeting (AGM) will be held via video conferencing on Friday, September 18, 2026. The company has fixed Thursday, September 03, 2026, as the record date to determine eligibility for the final dividend. Remote e-voting for shareholders is scheduled from September 14 to September 17, 2026, with the cut-off date set as September 11, 2026.

32nd AGM scheduled for Friday, September 18, 2026, at 12:00 Noon IST via VC/OAVM
Record date for final dividend entitlement fixed as Thursday, September 03, 2026
Cut-off date for e-voting eligibility set as Friday, September 11, 2026
Remote e-voting window opens September 14, 2026 (9:00 AM) and closes September 17, 2026 (5:00 PM)
Register of Members and Share Transfer Books to remain closed from September 04 to September 18, 2026

💡 Investors seeking entitlement to the final dividend must hold shares as of the record date (September 03, 2026). Monitor AGM resolutions and voting results post-September 18, 2026.

ACE Sets Sept 3, 2026 Record Date for Final Dividend; 32nd AGM on Sept 18

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 20 Aug 2026, 04:24 PM

Action Construction Equipment Limited (ACE) has announced that its 32nd Annual General Meeting will be held on September 18, 2026, via Video Conferencing. The company has fixed September 03, 2026, as the record date to determine eligibility for the final dividend, subject to shareholder approval. The Register of Members and Share Transfer Books will be closed from September 04 to September 18, 2026. Remote e-voting will run from September 14 to September 17, 2026, with the cut-off date set as September 11, 2026.

32nd AGM scheduled for Friday, September 18, 2026, at 12:00 Noon
Record date for final dividend fixed as Thursday, September 03, 2026
Book closure period from September 04, 2026, to September 18, 2026 (both days inclusive)
Remote e-voting window open from September 14, 2026 (9:00 AM) to September 17, 2026 (5:00 PM)

💡 Shareholders seeking dividend entitlement must hold shares before the September 03, 2026 record date; monitor AGM voting outcomes post-September 18.

ACE Sets 32nd AGM for Sept 18, 2026; Fixes Sept 3 as Record Date for Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Aug 2026, 04:14 PM

Action Construction Equipment Limited (ACE) has announced that its 32nd Annual General Meeting will be held on Friday, September 18, 2026, via Video Conferencing. The company has fixed Thursday, September 03, 2026, as the record date to determine shareholder eligibility for the final dividend. The Register of Members and Share Transfer Books will remain closed from September 04 to September 18, 2026.

32nd Annual General Meeting scheduled for September 18, 2026, at 12:00 Noon
Record date for final dividend eligibility set as September 03, 2026
Book closure period fixed from September 04, 2026, to September 18, 2026
Remote e-voting window open from September 14, 2026 (9:00 AM) to September 17, 2026 (5:00 PM)

💡 Shareholders seeking dividend entitlement must ensure their shareholding is recorded by the September 03, 2026 record date, and participate in e-voting ending September 17, 2026.

Action Construction Equipment Sets Sept 03, 2026 as Record Date for Final Dividend

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 20 Aug 2026, 04:09 PM

Action Construction Equipment Limited has fixed September 03, 2026 as the record date to determine shareholder eligibility for the final dividend. The dividend is subject to approval at the 32nd Annual General Meeting scheduled for September 18, 2026, and will be disbursed within 30 days of approval. The company's Register of Members and Share Transfer Books will be closed from September 04 to September 18, 2026. Remote e-voting will run from September 14, 2026 (9:00 AM) to September 17, 2026 (5:00 PM) based on the cut-off date of September 11, 2026.

Record date for final dividend entitlement fixed as September 03, 2026
32nd Annual General Meeting scheduled for September 18, 2026 via Video Conferencing
Share transfer books and register of members closed from September 04 to September 18, 2026
Cut-off date for e-voting eligibility set as September 11, 2026
Dividend to be paid within 30 days from approval at the AGM

💡 Investors seeking dividend entitlement should ensure shares are settled in their demat accounts before the record date of September 03, 2026.

View All ACE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Overall sales volume grew by ~11% YoY during April–December FY2025. The Construction Equipment (CE) and Tractor segments reported healthy revenue growth in FY2021 and 9M FY2022, while the company reported total revenue from sale of products of INR 3,290.72 Cr for the year ended March 31, 2025.

Geographic Revenue Split

Not disclosed in available documents, though the company maintains both domestic and global presence across infrastructure, industrial, and agricultural sectors.

Profitability Margins

Operating Profit Margin (OPM) improved to 14.5% in 9M FY2025, up from 13.9% in FY2024 and 10.6% in FY2023. This trend is driven by cost-control measures and operating leverage benefits in the cranes segment.

EBITDA Margin

OPM stood at 14.5% in 9M FY2025. The company expects a modest expansion in EBITDA margins in FY2026 versus the previous year, driven by product mix improvements and cost efficiencies.

Capital Expenditure

Planned capital expenditure is estimated at INR 150-200 Cr per annum over FY2026–FY2027, significantly higher than the historical INR 30-35 Cr per annum.

Credit Rating & Borrowing

Long-term rating upgraded to [ICRA]AA (Stable) from [ICRA]AA-; short-term rating reaffirmed at [ICRA]A1+. Interest coverage indicator improved to 12.7x in April–September FY2025 from 11x in 9M FY2022.

⚙️ Operational Drivers

Raw Materials

Steel and other commodities are the primary raw materials; specific percentage of total cost for each is not disclosed, but commodity price hardening is noted as a key monitorable for margins.

Key Suppliers

Not disclosed by name, but the company maintains a healthy supplier ecosystem essential for disruption-free operations.

Capacity Expansion

Current capacity not disclosed in units; however, the company is scaling operations in the CE and agriculture segments with a planned capex of INR 150-200 Cr for FY2026.

Raw Material Costs

Raw material costs are a significant monitorable; the company reported an OPM of 9.3% in 9M FY2022 despite increases in commodity prices, aided by price hikes and cost control.

Manufacturing Efficiency

Efficiency is driven by operating leverage as volumes scale; OPM improved to 14.5% in 9M FY2025 due to better scale in the cranes segment.

Logistics & Distribution

Not disclosed as a percentage of revenue, but the company utilizes a widespread distribution network to support its market-leading position in cranes.

📈 Strategic Growth

Expected Growth Rate

5-9%

Growth Strategy

Growth will be achieved by upgrading products in the CE and tractor segments, expanding the dealership network, strengthening financial tie-ups, and entering the Defence sector. The company also raised INR 136 Cr via QIP for potential inorganic growth.

Products & Services

Pick and Carry Cranes, Forklifts, Backhoe Loaders, Soil Compactors, Motor Graders, Piling Rigs, Tractors, Electric Stackers, Forkover Manual Stackers, Semi-electric Stackers, Heavy-duty Electric Pallet Trucks, and Li-ion Electric Forklifts.

Brand Portfolio

ACE (Action Construction Equipment).

New Products/Services

New launches include Li-ion electric forklifts (first in India), electric stackers, and specialized equipment for the Defence sector.

Market Expansion

Targeting increased market share in the CE and agriculture segments by upgrading product platforms and expanding the dealership network across India.

Market Share & Ranking

Market leader in the Cranes segment; 3rd largest player in the Material Handling segment in India.

Strategic Alliances

The company utilizes financing tie-ups to support sales and has raised INR 136 Cr through a QIP for potential acquisitions.

🌍 External Factors

Industry Trends

The industry is shifting toward electric mobility in material handling, with ACE launching Li-ion forklifts. Regulatory shifts like emission norm revisions are forcing price increases across product ranges, which may constrain near-term demand.

Competitive Landscape

Faces stiff competition from JCB (backhoe loaders), Escorts, Volvo, Hitachi (soil compactors), Caterpillar (motor graders), and M&M, TAFE, Sonalika (tractors).

Competitive Moat

Durable advantages include market leadership in cranes, a top-3 position in material handling, a widespread distribution network, and established brand strength. These are sustainable due to high entry barriers in manufacturing and established financing tie-ups.

Macro Economic Sensitivity

High sensitivity to GDP growth and infrastructure investments, as 93% of revenue is derived from cranes, material handling, and CE segments.

Consumer Behavior

Increasing demand from the e-commerce segment is driving a shift toward electric material handling equipment like stackers and electric pallet trucks.

Geopolitical Risks

Not disclosed, though global presence suggests exposure to international trade dynamics.

⚖️ Regulatory & Governance

Industry Regulations

Operations are affected by revisions in emission norms, which increase product prices and can temporarily constrain demand. The company must also adhere to product safety and quality standards to avoid recalls.

Environmental Compliance

Exposure to litigation or penalties related to waste and water management is currently rated as relatively low.

Legal Contingencies

Auditors raised no qualifications on the financial statements for the year ended March 31, 2025; no specific pending court case values were disclosed.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the cyclicality of end-user industries (93% of revenue), where a downturn in infrastructure or agriculture would significantly impact earnings.