Nine month performance
Sales was up by 36% to Rs 638 crore but the operating profit grew by just 10% as the margin contract by 180 bps to 7.2%. Eventually the net profit was down by 2% to Rs 27.15 crore.
Other developments
Separate meetings of the Equity Shareholders & Unsecured Creditors of Action Construction Equipment Ltd be convened to be held on February 18, 2012 for the purpose of considering, and if thought fit, approving, with or without modification(s), the Scheme of Amalgamation of ACE Steelfab Private with Action Construction Equipment and their respective members and creditors. This meeting is convened as per the direction of the Hon'ble High Court.
The stock hovers around Rs 36.