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India's largest maker of mobile cranes, also producing construction and agricultural equipment.
India's largest maker of mobile cranes, also producing construction and agricultural equipment.
Sells mainly through a dealer network, with pick-and-carry cranes, compact cranes that lift and move loads on site, carrying the business, since Indian road, rail and building contractors commonly use that format. The founding Agarwal family remains the controlling shareholder.
In one line: India's crane/construction-equipment maker.
Moat: narrow (scale, brand). Leading domestic market share in mobile cranes with an established dealer/service network.
Headquarters: Faridabad, India · Founded: 1995 · Employees: 5,332
Size Action Construction Equipment (ACE.NS) is an India Industrials company (Trucks/Construction/Farm Machinery) with a market value of $1.47B, the 476th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,168 on 6 Nov 2026.
Performance Over six months the shares gained 28.9%, against -16.1% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 5.2% over the last twelve months (peer median +10.5%); the operating margin is 14.9% (peer median 9.0%).
Valuation It trades at 29.0× forward earnings against a peer median of 14.4× (5th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.4 points above its cost of capital (14.5% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹34.1B | ₹32.8B | ₹33.2B | ₹29.1B | ₹21.6B |
| Revenue growth | — | -1% | +14% | +35% | — |
| Gross profit | ₹9.07B | ₹6.98B | ₹7.10B | ₹5.98B | ₹4.04B |
| EBITDA | ₹5.46B | ₹5.11B | ₹5.07B | ₹4.03B | ₹2.51B |
| Net income | ₹4.37B | ₹4.15B | ₹4.09B | ₹3.28B | ₹1.72B |
| Free cash flow | n/a | ₹3.71B | ₹2.27B | ₹2.56B | ₹2.00B |
| Capital expenditure | n/a | ₹933M | ₹2.21B | ₹1.75B | ₹739M |
| Total debt | n/a | ₹79.1M | ₹164M | ₹44.6M | ₹74.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Action Construction Equipment ACE.NS | $1.47B | +29% | +5% | 15% | 29.0× | 29.6% |
| Escorts Kubota ESCORTS.NS | $2.84B | -27% | +19% | 9% | 21.8× | 21.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ACE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.6% | -2.0% | 8th lowest of 21 |
| 6-month return | +28.9% | -16.1% | 2nd highest of 21 |
| Distance from 52-week high | -7.9% | -39.2% | highest of 21 |
| Revenue growth (TTM) | +5.2% | +10.5% | 8th lowest of 21 |
| Operating margin | 14.9% | 9.0% | 6th highest of 21 |
| Forward P/E | 29.0× | 14.4× | 5th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 29.6% | 7.0% | 4th most demanding of 16 |
| Growth delivered (Del g) | +21.7% | +10.6% | 3rd highest of 16 |
| Hurdle (Req g minus delivered) | +7.8 pp | -6.3 pp | 5th most demanding of 16 |
| ROIC minus cost of capital | +4.4 pp | -0.4 pp | 8th highest of 21 |
| EV / EBITDA | 25.5× | 9.7× | 3rd most expensive of 12 |
| Net debt / EBITDA | -1.2× | 0.7× | 3rd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Action Construction Equipment ACE.NS | India | $1.47B | +29% | +5% | 15% | 29.0× | 29.6% | +21.7% |
| Hanwha Engine 082740.KS | South Korea | $1.50B | -72% | +3% | 12% | 10.9× | -0.3% | +10.6% |
| Bestway Marine & Energy Technology 300008.SZ | China | $1.51B | -29% | +1% | 8% | 30.6× | 14.5% | +54.0% |
| Weichai Heavy Machinery 000880.SZ | China | $1.44B | -33% | +58% | 2% | n/a | 6.8% | +13.1% |
| Comer Industries COM.MI | Italy | $1.43B | -18% | +31% | 10% | 13.5× | 3.1% | +17.7% |
| Hengbo 301225.SZ | China | $1.41B | -11% | +69% | 7% | 85.7× | n/a | n/a |
| Swan Defence and Heavy Industries SWANDEF.NS | India | $1.54B | +48% | +642% | -109% | n/a | 57.1% | +113.9% |
| Lonking 3339.HK | Hong Kong | $1.57B | -14% | +22% | 12% | 7.0× | n/a | n/a |
| Namura Shipbuilding 7014.T | Japan | $1.62B | -9% | +7% | 19% | 9.9× | -3.1% | +10.1% |
| Alamo ALG | United States | $1.63B | -18% | +2% | 7% | 11.6× | 7.0% | +6.6% |
| Ingersoll-Rand (India) INGERRAND.NS | India | $1.33B | -13% | +8% | 23% | 41.2× | 34.1% | +17.6% |
| Alimak ALIG.ST | Sweden | $1.31B | +13% | -2% | 15% | 16.6× | 8.5% | +12.9% |
| Greenbrier Companies GBX | United States | $1.29B | -18% | -24% | 4% | 13.0× | n/a | n/a |
| KTK 603680.SS | China | $1.28B | -24% | -16% | 17% | n/a | -6.0% | +2.3% |
| Wacker Neuson WAC.DE | Germany | $1.71B | +20% | +14% | 7% | 13.4× | 1.5% | +6.6% |
| CoCreation Grass 605099.SS | China | $1.72B | -41% | +10% | 21% | 15.4× | 2.2% | +12.3% |
| JiangSu Changling Hydraulic 605389.SS | China | $1.72B | -32% | +19% | 12% | n/a | 36.1% | +4.4% |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| Austal ASB.AX | Australia | $1.23B | 0% | +11% | -7% | 18.1× | n/a | n/a |