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:

  1. 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.
  2. 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.
  3. Earnings per share is not annualised for the quarter ended 30 June 2023, 31 March 2023 and 30 June 2022.
  4. 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.
  5. 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.
  6. 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

  1. 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.
  2. 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.