Action Construction Equipment Limited
Corporate & Registered Office
Dudhola Link Road, Dudhola, Distt. Palwal-121102, Haryana, India
Date: August 11, 2023 | |
To, | |
The Manager Listing | The Manager Listing |
BSE Limited | National Stock Exchange of India Ltd. |
5th Floor, P.J. Towers, | Exchange Plaza, Bandra Kurla Complex, |
Dalal Street, | Bandra (E), |
Mumbai-400001 | Mumbai-400051 |
Scrip Code: 532762 | CM Quote: ACE |
Subject: Outcome of Board Meeting in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sir/Madam,
Pursuant to the Regulation 33 and Regulation 30 read with Para A of Part A of schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors in its meeting held on Friday, August 11, 2023 has, inter-alia considered and approved the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended on June 30, 2023.
Copy of the Un-audited financial results (Standalone and Consolidated) along with the limited review reports (Standalone and Consolidated) of the Auditors' for the quarter ended June 30, 2023 in the prescribed format are enclosed herewith.
We further wish to inform that the Board Meeting held today commenced at 11:30 a.m. and concluded at 1:35 p.m.
This is for your information and record please.
Thanking You.
For Action Construction Equipment Limited
ANIL KUMAR
Digitally signed by ANIL KUMAR DN: c=IN, postalCode=121006, st=HARYANA, l=FARIDABAD, o=Personal, serialNumber=c69127d248f7209479cfd1ac bf291cc10ed601a979bf6bcb944845f16be3 1b0c, pseudonym=486520211115144043002, 2.5.4.20=0385376578c5db8cf99f6f833ee2c 53dabcad74d452286710aa52c511344a9ad
, email=CS@ACE-CRANES.COM, cn=ANIL KUMAR, title=4865
Date: 2023.08.11 14:00:45 +05'30'
Anil Kumar
Company Secretary & Compliance Officer
Corporate Office: Phone: +91-1275-280111 (50 Lines), Fax: +91-1275-280133,E-mail:works2@ace-cranes.com
Mktg. H.Q.: 4th Floor, Pinnacle, Surajkund, Faridabad, NCR-121009, Phone: +91-129-4550000 (100 Lines), Fax: +91-129-4550022, Email: marketing@ace-
cranes.com Customer Care No.:1800 1800 004 (Toll Free), CIN: L74899HR1995PLC053860, Website: www.ace-cranes.com
Action Construction Equipment Limited
CIN : L74899HR1995PLC053860
Registered office: Dudhola Link Road, Dudhola, District Palwal, Haryana - 121102, India
Ph.: 01275-280111 (50 lines), Fax: 01275-280133.E-mail:cs@ace-cranes.com, Web: www.ace-cranes.com
Statement of Unaudited Financial Results for the quarter ended 30 June 2023
(Rs. in lakhs, except per share detail)
S. No. | Particulars | Standalone | Consolidated | ||||||
Quarter ended | Year ended | Quarter ended | Year ended | ||||||
30 June 2023 | 31 March 2023 | 30 June 2022 | 31 March 2023 | 30 June 2023 | 31 March 2023 | 30 June 2022 | 31 March 2023 | ||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | (Unaudited) | (Audited) | (Unaudited) | (Audited) | ||
1 | Income | ||||||||
Revenue from operations | 65,029 | 61,279 | 49,857 | 2,15,799 | 65,161 | 61,384 | 49,768 | 2,15,968 | |
Other income | 1,605 | 776 | 227 | 2,224 | 1,624 | 312 | 2,436 | 4,112 | |
Total income | 66,634 | 62,055 | 50,084 | 2,18,023 | 66,785 | 61,696 | 52,204 | 2,20,080 | |
2 | Expenses | ||||||||
Cost of materials consumed | 48,823 | 44,809 | 36,211 | 1,57,836 | 48,820 | 44,908 | 36,168 | 1,57,995 | |
Changes in inventories of finished goods, work-in-progressandstock-in-trade | (3,698) | (2,829) | 282 | (4,387) | (3,645) | (2,882) | 282 | (4,440) | |
Employee benefits expense | 2,615 | 2,622 | 2,229 | 9,843 | 2,647 | 2,660 | 2,254 | 9,976 | |
Finance costs | 314 | 337 | 163 | 1,024 | 314 | 338 | 165 | 1,029 | |
Impairment losses on financial assets | 462 | 1,776 | 30 | 2,188 | 462 | 1,776 | 30 | 2,188 | |
Depreciation and amortisation expense | 512 | 491 | 458 | 1,766 | 521 | 499 | 466 | 1,800 | |
Other expenses | 8,683 | 7,566 | 6,760 | 27,837 | 8,712 | 7,593 | 6,962 | 28,157 | |
Total expenses | 57,711 | 54,772 | 46,133 | 1,96,107 | 57,831 | 54,892 | 46,327 | 1,96,705 | |
3 | Profit before tax (1-2) | 8,923 | 7,283 | 3,951 | 21,916 | 8,954 | 6,804 | 5,877 | 23,375 |
4 | Tax expense | ||||||||
Current tax | 2,147 | 2,352 | 1,058 | 5,774 | 2,148 | 2,358 | 1,352 | 6,093 | |
Deferred tax | 50 | (268) | 9 | 22 | 49 | (269) | (2) | (17) | |
Total tax expense | 2,197 | 2,084 | 1,067 | 5,796 | 2,197 | 2,089 | 1,350 | 6,076 | |
5 | Profit after tax (3-4) | 6,726 | 5,199 | 2,884 | 16,120 | 6,757 | 4,715 | 4,527 | 17,299 |
6 | Other comprehensive expense for the period (net of tax) | ||||||||
Items that will not be reclassified to profit or loss | - | 3 | - | 3 | - | 3 | - | 3 | |
Items that will be re-classified to profit or loss | - | - | - | - | - | (1) | - | (1) | |
7 | Total comprehensive income (5+6) | 6,726 | 5,202 | 2,884 | 16,123 | 6,757 | 4,717 | 4,527 | 17,301 |
8 | Profit attributable to: | ||||||||
(a) Owners of the Company | - | - | - | - | 6,755 | 4,765 | 4,349 | 17,161 | |
(b) Non-controlling interests | - | - | - | - | 2 | (50) | 178 | 138 | |
9 | Other comprehensive income for the period attributable to: | ||||||||
(a) Owners of the Company | - | - | - | - | - | 2 | - | 2 | |
(b) Non-controlling interests | - | - | - | - | - | - | - | - | |
10 | Total comprehensive income for the period attributable to: | - | |||||||
(a) Owners of the Company | - | - | - | - | 6,755 | 4,767 | 4,349 | 17,163 | |
(b) Non-controlling interests | - | - | - | - | 2 | (50) | 178 | 138 | |
11 | Paid up equity share capital (face value of Rs. 2 each, fully paid) | 2,382 | 2,382 | 2,382 | 2,382 | 2,382 | 2,382 | 2,382 | 2,382 |
12 | Other equity as shown in the audited balance sheet as at | 88,535 | 89,474 | ||||||
13 | Earnings per share (fully paid up equity share of Rs. 2 each) (refer note 3) | ||||||||
a) Basic earnings per share | 5.65 | 4.37 | 2.42 | 13.54 | 5.67 | 4.00 | 3.65 | 14.41 | |
b) Diluted earnings per share | 5.65 | 4.37 | 2.42 | 13.54 | 5.67 | 4.00 | 3.65 | 14.41 |
For Action Construction Equipment Limited
VIJAY AGARWAL
Digitally signed by VIJAY AGARWAL DN: c=IN, o=Personal, title=9744, pseudonym=7DBD0B3F783170D3F41F9866 A47D4428D3DE36C1, 2.5.4.20=c2d6724980ff1ac12d2d00aef68c3ff 683456729611fdaa9571a95d5becf8b97, postalCode=121007, st=Haryana, serialNumber=A9F335B5AB134017DA73A2F 9305A59180FAD7FBCCFBEEF0F0E8105B65A DDC5C8, cn=VIJAY AGARWAL
Date: 2023.08.11 13:37:41 +05'30'
Place: Faridabad | Vijay Agarwal |
Date: August 11, 2023 | Chairman & Managing Director |
Notes to the Statement of Unaudited financial results for the quarter ended 30 June 2023:
- The above unaudited standalone and consolidated financial results for the quarter ended 30 June 2023 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 11 August 2023. The Statutory Auditors of the Company have conducted "Limited Review" of these results in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time and have issued an unmodified review opinion. The standalone and consolidated financial results for the quarter ended 30 June 2022 have been reviewed by a firm other than BSR & Co. LLP.
- The Unaudited standalone and consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time.
- Earnings per share is not annualised for the quarter ended 30 June 2023, 31 March 2023 and 30 June 2022.
- During the current quarter, the Company has granted 90,000 employee equity share option under Action Construction Equipment Limited employee stock option scheme - 2021. There are no exercised, forfeited or vested employee equity share option during the quarter ended 30 June 2023.
- The Board of Directors at its Meeting held on 30 May 2023, has recommended a final dividend @ 50% i.e. Rs. 1.00 per equity share which will be approved in upcoming annual general meeting.
- The unaudited financial information of following entities have been consolidated with the financial results of the Company, hereinafter refer to as "the Group":
Subsidiaries: | Country | |
SC Forma SA (under liquidation) | Romania | |
Crane Kraft India Private Limited | India | |
Namo Metals (Partnership Firm) | India | |
Action Construction Equipment | Limited | India |
Employees Welfare Trust |
- The figures of the quarter ended 31 March 2023 are the balancing figures between the audited figures in respect of the previous financial year and the year to date figures up to 31 December 2022, being the end of third quarter of the previous financial year, which were subject to limited review.
- The certificate of Chairman and Managing Director (CMD) and Chief Financial Officer (CFO) in terms of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of the above results has been placed before the Board of Directors of the Company.
VIJAY | Digitally signed by VIJAY AGARWAL |
DN: c=IN, o=Personal, title=9744, | |
pseudonym=7DBD0B3F783170D3F41 | |
F9866A47D4428D3DE36C1, | |
2.5.4.20=c2d6724980ff1ac12d2d00aef | |
68c3ff683456729611fdaa9571a95d5b | |
ecf8b97, postalCode=121007, | |
AGARW st=Haryana, | |
AL | serialNumber=A9F335B5AB134017DA |
73A2F9305A59180FAD7FBCCFBEEF0F | |
0E8105B65ADDC5C8, cn=VIJAY | |
AGARWAL | |
Date: 2023.08.11 13:38:07 +05'30' |
Notes to the Statement of Unaudited financial results for the quarter ended 30 June 2023:
9 The Unaudited financial results of the Company for the quarter ended 30 June 2023 have been filed with BSE and NSE and are also available on Company's website "www.ace-cranes.com". The key financial information for the quarter ended 30 June 2023 are as under:
(Rs. in lakhs) | ||||||
Standalone | ||||||
Particulars | Quarter ended | Year ended | ||||
30 Jun 2023 | 31 March 2023 | 30 Jun 2022 | 31 March 2023 | |||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | |||
Revenue from operations | 65,029 | 61,279 | 49,857 | 2,15,799 | ||
Profit before tax | 8,923 | 7,283 | 3,951 | 21,916 | ||
Profit after tax | 6,726 | 5,199 | 2,884 | 16,120 | ||
Total comprehensive income | 6,726 | 5,202 | 2,884 | 16,123 | ||
(Rs. in lakhs) | ||||||
Consolidated | ||||||
Particulars | Quarter ended | Year ended | ||||
30 Jun 2023 | 31 March 2023 | 30 Jun 2022 | 31 March 2023 | |||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | |||
Revenue from operations | 65,161 | 61,384 | 49,768 | 2,15,968 | ||
Profit before tax | 8,954 | 6,804 | 5,877 | 23,375 | ||
Profit after tax | 6,757 | 4,715 | 4,527 | 17,299 | ||
Total comprehensive income | 6,757 | 4,717 | 4,527 | 17,301 |
For Action Construction Equipment Limited
VIJAY AGARWAL
Digitally signed by VIJAY AGARWAL DN: c=IN, o=Personal, title=9744, pseudonym=7DBD0B3F783170D3F41F98 66A47D4428D3DE36C1, 2.5.4.20=c2d6724980ff1ac12d2d00aef68c 3ff683456729611fdaa9571a95d5becf8b9 7, postalCode=121007, st=Haryana, serialNumber=A9F335B5AB134017DA73 A2F9305A59180FAD7FBCCFBEEF0F0E810 5B65ADDC5C8, cn=VIJAY AGARWAL Date: 2023.08.11 13:38:24 +05'30'
Place: Faridabad | Vijay Agarwal |
Date: August 11, 2023 | Chairman & Managing Director |
10 Statement of segment information for the quarter ended 30 June 2023
(Rs. in lakhs) | |||||||||
Standalone | Consolidated | ||||||||
Particulars | Quarter ended | Year ended | Quarter ended | Year ended | |||||
30 June 2023 | 31 March 2023 | 30 June 2022 | 31 March 2023 | 30 June 2023 | 31 March 2023 | 30 June 2022 | 31 March 2023 | ||
Un-Audited | Audited | Un-Audited | Audited | Un-Audited | Audited | Un-Audited | Audited | ||
1 | Segment revenue | ||||||||
a) Cranes | 44,103 | 43,629 | 35,008 | 1,52,785 | 44,235 | 43,734 | 34,919 | 1,52,954 | |
b) Construction Equipment | 9,251 | 8,085 | 5,199 | 24,946 | 9,251 | 8,085 | 5,199 | 24,946 | |
c) Material Handling | 4,148 | 5,133 | 3,786 | 16,914 | 4,148 | 5,133 | 3,786 | 16,914 | |
d) Agriculture Equipment | 7,527 | 4,432 | 5,864 | 21,154 | 7,527 | 4,432 | 5,864 | 21,154 | |
Revenue from operations | 65,029 | 61,279 | 49,857 | 2,15,799 | 65,161 | 61,384 | 49,768 | 2,15,968 | |
2 | Segment results | ||||||||
a) Cranes | 6,635 | 6,103 | 4,002 | 19,508 | 6,648 | 6,388 | 3,944 | 19,382 | |
b) Construction Equipment | 1,309 | 1,124 | 226 | 2,351 | 1,309 | 1,124 | 226 | 2,351 | |
c) Material Handling | 422 | 601 | 419 | 2,085 | 422 | 601 | 419 | 2,085 | |
d) Agriculture Equipment | 442 | 117 | 142 | 541 | 442 | 117 | 142 | 541 | |
Total (A) | 8,808 | 7,945 | 4,789 | 24,485 | 8,821 | 8,230 | 4,731 | 24,359 | |
Add: Other Income (B) | 1,605 | 776 | 227 | 2,224 | 1,624 | 312 | 2,436 | 4,112 | |
Less: Finance costs (C) | 314 | 337 | 163 | 1,024 | 314 | 338 | 165 | 1,029 | |
Less: Other unallocable expenditure (D) | 1,176 | 1,101 | 902 | 3,769 | 1,177 | 1,400 | 1,125 | 4,067 | |
Profit before tax (A+B-C-D) | 8,923 | 7,283 | 3,951 | 21,916 | 8,954 | 6,804 | 5,877 | 23,375 | |
3 | Segment assets | ||||||||
a) Cranes | 70,657 | 69,306 | 76,838 | 69,306 | 70,673 | 69,268 | 76,930 | 69,268 | |
b) Construction Equipment | 18,623 | 12,860 | 11,261 | 12,860 | 18,623 | 12,860 | 11,261 | 12,860 | |
c) Material Handling | 4,140 | 4,447 | 4,104 | 4,447 | 4,140 | 4,447 | 4,104 | 4,447 | |
d) Agriculture Equipment | 12,261 | 12,379 | 13,294 | 12,379 | 12,261 | 12,379 | 13,294 | 12,379 | |
e) Unallocated | 65,538 | 59,539 | 27,887 | 59,539 | 67,042 | 61,020 | 29,692 | 61,020 | |
Total assets | 1,71,219 | 1,58,531 | 1,33,384 | 1,58,531 | 1,72,739 | 1,59,974 | 1,35,281 | 1,59,974 | |
4 | Segment liabilities | ||||||||
a) Cranes | 43,837 | 41,241 | 30,797 | 41,241 | 44,026 | 41,390 | 30,888 | 41,390 | |
b) Construction Equipment | 10,157 | 11,341 | 6,385 | 11,341 | 10,157 | 11,341 | 6,385 | 11,341 | |
c) Material Handling | 3,486 | 3,514 | 2,880 | 3,514 | 3,486 | 3,514 | 2,880 | 3,514 | |
d) Agriculture Equipment | 8,173 | 8,593 | 7,565 | 8,593 | 8,173 | 8,593 | 7,565 | 8,593 | |
e) Unallocated | 7,923 | 2,925 | 7,364 | 2,925 | 8,122 | 3,118 | 7,600 | 3,118 | |
Total liabilities | 73,576 | 67,614 | 54,991 | 67,614 | 73,964 | 67,956 | 55,318 | 67,956 |
Note: Unallocated figures relates to segments which do not meet criteria of Reportable Segment as per Ind AS 108- Operating Segments.
For Action Construction Equipment Limited
VIJAY AGARWA L
Digitally signed by VIJAY AGARWAL DN: c=IN, o=Personal, title=9744, pseudonym=7DBD0B3F783170D3F41F9866A47D 4428D3DE36C1, 2.5.4.20=c2d6724980ff1ac12d2d00aef68c3ff68345 6729611fdaa9571a95d5becf8b97, postalCode=121007, st=Haryana, serialNumber=A9F335B5AB134017DA73A2F9305 A59180FAD7FBCCFBEEF0F0E8105B65ADDC5C8, cn=VIJAY AGARWAL
Date: 2023.08.11 13:38:43 +05'30'
Place: Faridabad | Vijay Agarwal |
Date: August 11, 2023 | Chairman & Managing Director |
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Action Construction Equipment Limited published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 12:01:04 UTC.