Transcript of Q4FY 2026 IS Attached herewith.
ACE · price
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ACE reported FY26 total income of INR 3,395 crores (flat YoY) with EBITDA margin expanding 81 bps to 18.33%. Q4 standalone revenue was INR 1,021 crores (up 15% sequentially, +5.6% YoY) with EBITDA margin at 16%. PAT grew 5.4% to INR 425 crores. The company declared 100% dividend (INR 2/share). A new 50-50 JV with KATO Works, Japan was finalized for truck cranes, crawler cranes, and rough terrain cranes — targeting INR 300 crores revenue initially, potentially INR 700-800 crores if antidumping duties are implemented. Steel costs have risen 20-22% since January, and ACE has taken cumulative price increases of ~9-10% (with another 5% from June 1) to offset input cost inflation. The defense order book stands at INR 575 crores, and the company aims to grow defense + exports contribution to 10-15% (currently ~9%). Capacity utilization is ~60%, providing headroom for growth. The company remains debt-free.
ACE delivered margin expansion despite steel inflation through price hikes, but refrained from giving annual volume guidance pending clearer demand visibility in Q2. The KATO JV and defense business are key medium-term growth levers toward the INR 6,000-6,200 crore revenue target.