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Action Construction Equipment Ltd Q3FY24 Concall: Segment- Revenue Growth YOY - Margins: 1. Crane segment -43% - 16.24%. 2. The Construction Equipment - 45% - 11.7%. 3. The Material Handling segment - 9% - 16.3% . 4. The Agri division - flat at Rs 62.4 Cr - 3.85%. CAPEX: 5. All capex plans are on track. The new manufacturing facility for high power cranes and fork lifts was partially operational in Q3 and will be fully operational in Q4. 6. Co has acquired additional 80 acres of land next to the existing manufacturing facility. Existing land would limit the revenue to 5000 Cr. 6A. Looking for inorganic expansion abroad and in India. Co is hush-hush about it. 7. Electric cranes still on hold due to CMVR compilation. The CMVR may be drafted by the end of this quarter. 8. Defence revenue is 2-2.5%. Last time the big order from this space was around 500-550 Cr for multi purpose tractor -MPT. They also supplied truck mounted cranes for MRSA mission. 60 ton crane costing 1.5-2 Cr each. Recently they supplied 330 units of forklift. 9. They are working with the army for 1800 untis of R Rough Terrain Forklifts costing bw 35-45 L. Recently they made a prototype. Two companies participated in this. They are technically qualified. Other co is a foreign co. If they get this order, it will be the biggest army order in terms of value. Could be btwn +/- 700 Cr. 10. Army could be 5% of topline in next 2/3 years. They are only doing specialized machines for them which the army had to import earlier. 11. Apart from this they are also supplying rough terrain cranes to Indian navy which cost between 1.5-2.5 Cr. 5-10 of these will be delivered in Q4. 12. Co was short of machinery by end of december. 13. Slow down in exports due to increased logistics cost. 14. Co will have first mover advantage with aerial work platform. It should get commercialised by Q4. 15. co is also working on another new product called a Reach Stacker, which is used for container handling. 40-45 Tons. They're big machines, each costing about INR 2.5 crores, INR 3 crores. With logistics and import duty increase, the price for these will increase. Guidance: >Co increases the guidance once again. They started the year with guiding for 18-20% growth in cranes. Revised to 25% by end of H2 and now increases it to 30%. > Upholding the previous guidance of 50% in construction segment. 15-20% in material handling and agri segment. > Overall growth to be around 32% with margins at 15.5%+ . > Will double FY23 revenue (2200) by FY26. IN FY27, revenue will be 5500 Cr