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Action Construction Equipments Ltd.

BSE: 532762 Sector: Engineering
NSE: ACE ISIN Code: INE731H01025
BSE LIVE 11:56 | 19 Jan 48.20 -0.25
(-0.52%)
OPEN

48.50

HIGH

48.70

LOW

48.15

NSE LIVE 12:00 | 19 Jan 48.50 0.20
(0.41%)
OPEN

48.10

HIGH

48.75

LOW

48.00

OPEN 48.50
PREVIOUS CLOSE 48.45
VOLUME 2174
52-Week high 59.70
52-Week low 32.30
P/E 35.44
Mkt Cap.(Rs cr) 476.94
Buy Price 48.25
Buy Qty 40.00
Sell Price 48.70
Sell Qty 2321.00
OPEN 48.50
CLOSE 48.45
VOLUME 2174
52-Week high 59.70
52-Week low 32.30
P/E 35.44
Mkt Cap.(Rs cr) 476.94
Buy Price 48.25
Buy Qty 40.00
Sell Price 48.70
Sell Qty 2321.00

Action Construction Equipments Ltd. (ACE) - Chairman Speech

Company chairman speech

Dear Members

It gives me great pleasure to present the Annual Report of your Company for thefinancial year 2014-15. In the last year's Annual Report I had spoken about theuncertainties facing our economy and more particularly issues related to growth ofinfrastructure and construction Industry. While the macroeconomic environment hasimproved challenges persist in the form of muted demand and depressed consumersentiments.

Economy has shown signs of picking up in the last few quarters. Unfortunately for ACEand the construction and infrastructure sectors of the country the growth is extremelymodest. The entire construction and infrastructure has continued to remain seriouslystressed both I operationally and financially.

India's economy is in the midst of a recovery with lower fiscal and current accountdeficit lower inflation and weak commodity prices. Ours country growth seems poised toreturn to a high-growth path.

The outlook for the ongoing fiscal year remains positive. Industry is largelyoptimistic and believes that the Indian economy is at the initial stages of a businesscycle recovery. Our Government is addressing economic reforms on a war footing basis. TheRoads and Highways sector is major thrust area of the Government. It is expected that thebenefits will flow into the sector that your company operates in the coming years.

A sharp focus on marketing coupled with continuing investments in R&D is the mantrato ACE next level of growth. The Company believes in providing products suiting to marketrequirements. R&D is providing the impetus to take forward this mindset. Our dedicatedR&D Centres have sharpened our focus on various product categories and helped uslaunch new products that are in tune with customer needs. We are alive to the realities oftechnological challenges. Our R&D teams are working on all these areas to ensure thatACE always remains the forefront of innovation and keep breaking new paths in customersatisfaction.

Our Social Responsibility and Sustainability efforts continue to win us laurelsbecause we undertake these with some beliefs and conviction as we do our commercialactivities. What makes us different from others is that we have made these effortsintrinsic to our commercial activity or strategy and not something that we are forced todo by regulatory mandate.

In spite of tough business environment during the FY 2014-15 your Company continued toincrease our market share by increasing customer base and product improvements. We believethat we have key strengths to remain healthy and face challenges with courage andconviction. We are confident that our commitment dedication cost cutting measures andcontinuing R&D programme will enable us to take full advantage of our marketleadership positions and achieve our growth ambitions.

I would like to place on record my sincere appreciation to the Board of Directors andemployees for their dedication commitment and contribution to strengthen ACE. I wouldlike to express my gratitude to all our stakeholders like bankers customers vendors etcfortheircontinuing faith in ACE.

With best wishes.

Sincerely

VijayAgarwal

Chairman and Managing Director