Action Construction Equipment Ltd. share price Q1 FY26

Particulars (₹ Mn)	Q1 FY26	Q1 FY25	YoY %	Q4 FY25	QoQ %
Total Income*	7,032	7,618	-7.7%	9,694	-27.5%
Total Expenses	5,593	6,356	-12.0%	7,973	-29.9%
EBITDA	1,439	1,262	14.0%	1,721	-16.4%
EBITDA Margin (%)	20.46%	16.57%	+389 bps	17.75%	+271 bps
Depreciation	80	69	15.9%	73	9.6%
Finance Cost	82	73	12.3%	39	110.3%
PBT	1,277	1,120	14.0%	1,609	-20.6%
Tax	300	278	7.9%	423	-29.1%
PAT	977	842	16.0%	1,186	-17.6%
PAT Margin (%)	13.89%	11.05%	+284 bps	12.23%	+166 bps
EPS (₹)	8.21	7.07	16.1%	9.96	-17.6%

*Includes other income

Market Recovery Expectation: Management expects market normalization from Q3 FY26 onwards as the impact of CEV-5 emission norms settles and seasonal/monsoon disruptions subside.
Defence Order Execution: ₹420 crore order for 1,121 Rough Terrain Forklifts from the Ministry of Defence to be partially executed in FY26, strengthening revenues.
Sectoral Drivers: Strong government capex in roads, railways, housing, ports, logistics, and manufacturing to support demand for ACE products.
Margins: Sustained improvement expected due to calibrated pricing, cost efficiencies, and stable commodity prices.
Exports & Diversification: Continued push into 37+ countries with a diversified product portfolio to buffer domestic cyclicality.

Short-term Demand Disruption from:
- Transition to CEV-5 emission norms (impacting equipment sales).
- Early monsoon onset affecting construction activity.
- Global macro uncertainties slowing export orders.
Quarterly Sales Drop:
- Cranes & material handling equipment volumes fell from 2,951 units in Q1 FY25 to 2,337 units in Q1 FY26.
Cost Pressures:
- Higher finance costs (+12.3% YoY, +110% QoQ) may weigh if interest rate environment changes.
Order Book Dependency:
- Heavy reliance on government infrastructure spending; delays in tendering/execution could affect growth trajectory.
Commodity Price Volatility — though currently soft, any reversal may pressure margins.

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