Hem Securities report on Action Construction Equipment
Action Construction equipment Ltd Q4 FY22 consolidated revenues came in at ₹511 Cr, up by 11% YoY and 16.9% QoQ. Op Profit for Q4FY22 stood at ₹52 Cr, down by 8.2% YoY and up 19% QoQ. Op margins for Q4FY22 came at 10.19%, -213bps YoY and +18bps QoQ. PAT for Q4FY22 stood at ₹35.4 Cr, down by 8.3% YoY and up by 29.2% QoQ.
We give a “BUY” rating on the stock and value the stock at 22x of FY23E earnings to arrive at a target price of Rs. 250.
At 14:08 hrs Action Construction Equipment was quoting at Rs 209.55, up Rs 1.15, or 0.55 percent.
It has touched an intraday high of Rs 210.45 and an intraday low of Rs 206.15.
It was trading with volumes of 58,674 shares, compared to its thirty day average of 35,609 shares, an increase of 64.77 percent.
In the previous trading session, the share closed down 1.47 percent or Rs 3.10 at Rs 208.40.
The share touched its 52-week high Rs 291.55 and 52-week low Rs 175.00 on 14 September, 2021 and 12 May, 2022, respectively.
Currently, it is trading 28.13 percent below its 52-week high and 19.74 percent above its 52-week low.
Market capitalisation stands at Rs 2,495.39 crore.
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