ACTION CONSTRUCTION EQUIPMENT LTD
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BSE Code:
532762
NSE Code:
ACE
Business Profile
Business Profile
Action Construction Equipment (ACE) is a Delhi-based construction equipment manufacturer. The company was incorporated as a private limited company in 1995 and went public in 2005. Vijay Agarwal is the chairman, CEO, and managing director of the company.
ACE is engaged in designing, manufacturing and marketing hydraulic mobile pick-n-move cranes, forklift trucks, loaders, tower cranes, aerial work platforms, mast climbing platforms/lifts, and lorry loaders/truck mounted cranes. ACE has full-fledged production facilities based in Faridabad. ACE equipment is used in many industrial sectors like infrastructure, construction, roads, engineering industry, coal mines, chemical and fertilizer plants, power stations, ports, heavy project engineering industry, railways, cement industry, oil industry, defence etc.
ACE has been certified as an ISO 9001 company by CVI. The company has a series of tie-ups with the leading foreign companies like PM-Italy, Zoomlion-China, Maber-Italy and Airo-Italy, for technology and machines from around the world. The company`s Cyprus arm, Frested, acquired 73.9% stake in a Romanian company, SC FORMA SA-Romania, for a total cost of USD 2.15 million.
ACE provides spares and support for construction equipments and has a network of five regional offices and 37 sales and service dealer outlets across India. Clients include Reliance Industries, Punj Lloyd, ACC, Cimmco Birla, Central Coalfields, Punjab State Electricity Board, Rajasthan State Electricity Board etc. ACE has marketing tie-ups with companies like Autogru PM, Tigieffe SRL and Maber in Italy and Zoomlion in China and also exports its equipment to the Middle East and African countries.
The registered office is at II Floor, Plot No.7, H-Block, Sarita Vihar, New Delhi-110044.
Financials
The company announced a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 92.08% to Rs 7.55 million from Rs 95.30 million in the same quarter previous year. Net sales declined 27.93% to Rs 766 million, while total income for the quarter fell 28.47% to Rs 776.43 million, when compared with the prior year period. It posted earnings of Rs 0.34 a share during the quarter, registering 98.40% decline over prior year period.