India · Delayed Price · Currency is INR Action Construction Equipment Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw flat revenue but improved margins and profitability, with strong sequential growth and robust order inflows. Outlook remains positive, supported by new product launches, capacity expansion, and favorable policy measures, while maintaining a debt-free, asset-light model.
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Q2 FY2026 saw stable revenues and margin expansion despite industry headwinds, with early signs of recovery and supportive government policies. Flattish to single-digit growth is expected for FY2026, with medium-term revenue targets reaffirmed and a positive outlook for margin improvement.
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Q1 FY 2026 saw revenue decline 7.6% year-over-year due to regulatory changes and muted demand, but margins expanded significantly on cost efficiencies and price hikes. Export and defense segments are set to contribute more, with normalization expected from Q2 and strong long-term growth prospects.
Fiscal Year 2025
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Reported record FY2025 results with 14.47% revenue growth and margin expansion, driven by strong performance in core segments and a major defense order. FY2026 guidance targets 14%-15% growth amid temporary demand softness from emission norm changes and global uncertainties.
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Q3 FY25 saw record revenue and profit growth, driven by strong domestic demand and margin expansion. Guidance for FY25 remains at 15%+ growth with stable margins, and the company is on track to double FY23 topline by FY26. Exports and new product launches are expected to boost future performance.
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Q2 FY25 saw record revenues and margins, with 12.2% YoY revenue growth and 18% EBITDA margin. Major defense orders, capacity expansion, and a new JV with Kato Works support a 15%+ growth outlook, while regulatory changes and commodity prices remain key risks.
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Q1 FY25 saw record revenue and profit growth year-over-year, with margin expansion despite election and monsoon headwinds. A new JV with Kato will boost large crane production, and guidance for 15%-20% growth is maintained, supported by strong infrastructure demand.