Action Construction Equipment Ltd

- No immediate requirement for further equity fundraising, as the company has enough cash available currently. - Additional fundraising may be considered only if a major opportunity arises, which is expected to be in the next 1 to 2 years, but not in the immediate future. - The company continues to remain long-term debt-free and has a significantly improved and sustainable balance sheet. - No specific plans for debt fundraising were mentioned during the call.

- Completed 75% of envisaged brownfield capex of INR 90-100 crores for the current year. (Page 4) - Expanded and new facilities partially operational in Q3, to be fully commissioned by Q4 FY '24. (Page 4) - Set up a new facility for higher capacity slow cranes at a 100-acre investment park; commissioning expected by Jan-Feb next year with machine rollouts to start then. (Page 9) - Fabrication capabilities expanded nearly doubled; capacity expansions in existing plants for bigger cranes, tower cranes, forklifts, Pick & Carry cranes (increasing monthly capacity from ~700 to 1,000-1,100). (Pages 9-10) - Overall capacity expansion targets revenue capacity of INR 4,000 crores upon full utilization. (Page 16) - No immediate equity requirement for acquisitions or investments unless major opportunities arise in next 1-2 years. (Page 13) - Discussions ongoing for potential outsourcing/white labelling for exports; announcements possible in Q4. (Page 15-16)

- The company targets a minimum 25% revenue growth for the current year, with the possibility of achieving even faster growth. - Long-term goal is to double revenue by FY '27 or FY '28 from the FY '24 level (around INR1,200 crores base). - Capacity expansion underway; new facilities and plant to support revenue potential up to INR4,000 crores at full utilization. - Growth segments include cranes (25%+ growth expected), construction equipment (50% growth targeted), material handling, and agricultural equipment (15%-20% growth anticipated each). - Electric cranes and aerial work platform deliveries are expected to begin from Q4 FY '24, supporting growth. - Export revenue contribution is expected to increase to 10-15% or more in the medium term. - The company expects medium to long-term sustainable growth, supported by government infrastructure spending and private sector capex revival. - FY '25 election year may cause some demand fluctuations, but 15%-20% growth is still targeted.

- Action Construction Equipment Limited targets at least 25% revenue growth for the current year, with potential for faster growth. - EBITDA margins have expanded and are expected to continue improving, with an aim to sustain around 15% and possibly increase by 2-4%. - The company plans to increase capacity significantly, enabling revenues up to INR4,000 crores at full utilization. - Long-term revenue is targeted to double from FY '24 levels by FY '27 or FY '28, depending on macroeconomic conditions. - Profit growth reflected in strong EBITDA, PBT, and PAT increases: EBITDA grew by 107% H1 FY '24 YoY; PAT grew by 118%. - Smaller businesses (Material Handling, Agri Equipment) expected to grow at 15-20% annually over next 2-3 years. - Defense orders and exports are growth areas, with exports targeted to reach 10-15% of revenues. - New product launches (electric cranes, aerial platforms) and capacity expansions support robust future earnings growth.

- Action Construction Equipment Limited has received about 30-40 orders for Pick & Carry cranes in the last 2 months (September, October). - Additional orders include around 90 forklifts (2 to 3 tonnes) primarily for airports. - Total recent orders from Indian Defense Services include approximately 150 to 200 units of different machines. - Current execution includes 18 units of higher capacity slow cranes (40-tonne and 75-tonne) for Indian Navy, expected to complete by Q4 FY '24. - Defense orders are regular and ongoing, with expectations of increased presence in higher capacity cranes. - Credit lines for projects like those in Ghana are established, with mobilization ongoing, expecting execution start from Q4 onward. - Overall order pipeline is robust with government and defense sectors continuously providing orders.