Action Construction Equipments Ltd

Action Construction Equipment is engaged in the business of manufacturing and marketing of Hydraulic Mobile Cranes, Mobile Tower Cranes, Crawler Cranes, Truck mounted Cranes, Material Handling equipment like Forklifts, Road construction equipment like Backhoe loaders, Compactors, Motor graders and agriculture equipment like Tractors, Harvesters, Rotavators etc.(Source : 201903 Annual Report Page No: 79)

Pros:
Company is virtually debt free.
Company has good consistent profit growth of 70.47% over 5 years
Cons:
Company has a low return on equity of 10.46% for last 3 years.

Peer Comparison Sector: Capital Goods-Non Electrical Equipment // Industry: Engineering

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
179 188 230 189 251 279 367 336 344 363 300 293
169 177 221 180 234 252 329 309 323 337 276 272
Operating Profit 10 11 9 9 17 27 38 27 21 26 24 22
OPM % 6% 6% 4% 5% 7% 10% 10% 8% 6% 7% 8% 7%
Other Income 2 2 2 2 2 2 2 2 3 3 2 2
Interest 4 4 5 3 3 3 3 3 3 4 2 3
Depreciation 3 3 3 3 3 3 3 3 3 3 3 3
Profit before tax 6 6 4 5 13 22 34 23 19 22 21 18
Tax % 20% 21% 45% 20% 16% 27% 38% 28% 33% 32% 41% 33%
Net Profit 4 5 2 4 11 16 21 17 12 15 12 12
EPS in Rs 0.38 0.94 0.18 0.32 0.94 1.40 1.83 1.42 1.06 1.27 1.04 1.03
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
401 429 427 694 856 668 615 598 637 751 1,086 1,342 1,300
361 407 392 633 803 638 575 577 606 711 994 1,245 1,207
Operating Profit 40 21 35 61 52 30 39 21 31 40 92 98 93
OPM % 10% 5% 8% 9% 6% 4% 6% 4% 5% 5% 8% 7% 7%
Other Income 11 19 7 5 5 5 -9 11 9 8 8 10 10
Interest 2 4 4 5 7 10 10 13 14 16 14 12 12
Depreciation 3 6 5 7 11 14 15 10 11 12 12 12 12
Profit before tax 46 30 33 54 38 11 5 10 15 20 75 84 79
Tax % 21% 25% 25% 25% 26% 35% 21% 29% 42% 26% 29% 33%
Net Profit 36 23 24 41 28 7 4 7 9 14 53 56 51
EPS in Rs 3.90 2.46 2.55 4.04 2.84 0.70 0.39 0.64 0.70 1.23 4.49 4.79 4.40
Dividend Payout % 20% 16% 37% 46% 7% 27% 25% 29% 27% 24% 11% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.10%
5 Years:16.90%
3 Years:28.19%
TTM:5.34%
Compounded Profit Growth
10 Years:9.75%
5 Years:70.47%
3 Years:98.69%
TTM:-21.50%
Return on Equity
10 Years:7.72%
5 Years:7.41%
3 Years:10.46%
Last Year:12.99%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
18 18 18 19 20 20 20 20 54 23 41 23
Reserves 120 139 153 244 278 284 288 293 283 334 382 414
Borrowings 21 39 30 72 145 156 150 138 124 114 61 53
84 87 120 162 152 162 165 178 212 236 378 395
Total Liabilities 244 283 322 496 595 622 622 629 643 706 845 886
63 69 72 152 227 251 268 274 306 337 330 334
CWIP 4 0 38 3 5 10 2 6 1 6 4 7
Investments 0 1 2 8 10 16 15 18 21 34 50 51
177 213 209 333 353 345 337 331 315 330 461 494
Total Assets 244 283 322 496 595 622 622 629 643 706 845 886

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
36 -10 32 -0 16 42 37 39 57 76 89 72
-38 -4 -16 -32 -73 -45 -20 -14 -25 -18 -35 -27
-17 10 -16 37 54 -2 -19 -26 -33 -57 -53 -44
Net Cash Flow -19 -3 1 5 -3 -4 -2 -1 -0 2 1 2

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 34% 19% 18% 22% 12% 5% 3% 4% 6% 8% 18% 20%
Debtor Days 48 45 44 44 36 46 41 49 47 50 57 39
Inventory Turnover 13.71 10.16 7.97 7.82 6.67 4.79 4.05 3.96 4.82 6.35 8.45 7.54