Action Construction Equipment (ACE), a leading supplier of off-highway and construction equipment, has announced its highest-ever annual and quarterly sales and profits for FY2025.

The company reported revenue of INR 34 billion in FY2025, up 14.47 percent YoY, EBITDA margin at 17.5 percent, and profit after tax of 4.09 billion, up 25 percent YoY.

ACE attributed this impressive margin expansion to operational leverage, an optimised product mix and effective cost control measures.

The Cranes, Material Handling & Construction equipment division played a pivotal role in this success, with volumes growing by 14.75 percent YoY and revenue increasing by 15.7 percent YoY.

Sorab Agarwal, Executive Director, ACE, stated that India continues to stand out as the fastest-growing major economy. Despite prevailing global uncertainties, the country’s GDP is projected to grow at a steady pace of around 6.5 percent. “This momentum is underpinned by strong macroeconomic fundamentals – including easing inflation and a supportive monetary stance by the Reserve Bank of India. Resilient domestic consumption, alongside the government’s sustained emphasis on capital expenditure, remains a key driver of economic growth. However, external risks persist in the form of rising trade barriers, disrupted global supply chains and ongoing geopolitical tensions.

India is now positioned as the world’s fourth-largest economy and we are confident in the country’s ability to emerge as a global sourcing hub for goods and services. Our robust industrial capabilities, skilled workforce, and rapidly advancing infrastructure place us in a strong position to cater to global demand with both efficiency and excellence.”

In a landmark achievement for the quarter, ACE secured its largest-ever single order, valued at INR 4.2 billion, to supply 1,121 Rough Terrain Fork Lift Trucks (Telehandlers) and associated accessories to the Indian armed forces.

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The Indian commercial vehicle (CV) industry is likely to see wholesale growth of 3-5 percent in FY2026, backed by the resumption of construction and infrastructure activities. The report states that while domestic CV wholesale volumes saw a marginal 0.1 percent YoY increase in May 2025, retail volumes witnessed a 3.7 percent YoY contraction.

For the initial two months of the fiscal year 2026 (April-May 2025), CV wholesale volumes declined by 0.7 percent on a YoY basis. The decline in retail volumes, which also saw an 11.3 percent sequential drop in May 2025, suggests elevated inventory levels at dealerships.

Breaking down the performance by segment, the medium and heavy commercial vehicle (M&HCV) segment saw its retail sales volumes decline by 4.4 percent YoY in May 2025, with a significant sequential decline of 18.9 percent. ICRA noted that regional disruptions and the geopolitical situation had some impact on demand for the month. M&HCV (trucks) wholesale volumes are anticipated to register a modest 0-3 percent YoY growth in FY2026, following a 4 percent decline in FY2025.

Similarly, retail volumes in the light commercial vehicle (LCV) segment in May 2025 declined by 3.2 percent YoY and 4.9 percent sequentially, reflecting muted demand. LCV (trucks) wholesale volumes are expected to register a limited 3-5 percent YoY growth in FY2026. The increasing preference for pre-owned vehicles over new ones in this segment has also impacted demand recently.

Despite the subdued performance in May, ICRA forecasts a modest YoY growth of 3-5 percent in wholesale volumes for the domestic CV industry in FY2026, after a marginal 1.2 percent year-on-year decline in FY2025. While M&HCV (trucks) and LCV (trucks) segments are expected to see modest volume growth, the buses segment is projected to experience a relatively higher growth of 8-10 percent for the fiscal year.

The anticipated pick-up in construction and mining activities, coupled with a steady economic environment, is expected to support demand prospects for the LCV (trucks) and M&HCV (trucks) segments. Meanwhile, replacement demand is likely to be a key driver for volume growth in the buses segment.

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Chennai-based commercial vehicle major Ashok Leyland has bagged an order to deliver 200 trucks to Instant Transport Solution, a key express logistics player in India.

Instant & XP India, is a leading express logistics player in e-commerce, FCL, LCL and 3PL space, is one of the fastest-growing integrated logistics businesses in India.

It currently operates a fleet of around 2,100 trucks and has placed a substantial order of 200 units of Ashok Leyland’s trucks. The first batch of 100 units of 1916 single axle and 2820 multi-axle haulage trucks were delivered, marking the beginning of this extensive fleet expansion.

Sanjeev Kumar, President – MHCV, Ashok Leyland, handed over the keys to the first batch of 100 trucks to Rajbir Singh Chaudhary, Chairman, Instant Transport Solution, in the presence of senior executives from both organisations.

Sanjeev Kumar, said, “We are delighted to deliver the first batch of 1916 single axle and 2820 multi-axle haulage trucks to Instant Transport Solution. This order underscores the confidence customers place in our robust, innovative and reliable vehicles. As we continue to push the boundaries of technology and customer experience, collaborations like these will help shape a more efficient, future-ready logistics sector.”

Rajbir Singh, said, “We have complete trust in the quality and performance of Ashok Leyland trucks. Their outstanding after-sales support ensures seamless operations for us, while their growing service network further enhances our capabilities. This delivery represents more than just new trucks – it signifies a deepening partnership aimed at advancing logistics efficiency. With Ashok Leyland’s dedication to innovation and our forward-thinking approach to transportation, we look forward to continued success on the road.”

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Mumbai-headquartered automotive major Mahindra & Mahindra has launched its all-new Bolero MaXX Pik-Up HD 1.9 CNG small commercial vehicle (SCV) at INR 1.11 million (ex-showroom). The new model expands the company’s popular Bolero Pik-Up brand.

The Bolero MaXX Pik-Up HD 1.9 CNG comes with a 2.5-litre turbocharged CNG engine, delivering 61 kW power, 220 Nm of torque @ 1,200-2,200 rpm and a payload capacity of 1.86-tonne. The SCV is specifically designed for long-distance operations and offers a claimed range of up to 400 km on a single CNG fill, supported by its 180-litre tank capacity. The SCV comes with a 5-speed manual gearbox and power steering.

In terms of connectivity, the Bolero MaXX Pik-Up HD 1.9 CNG is the company’s first CNG pickup offering with iMAXX telematics solution tech, providing fleet operators complete overview of the vehicle performance.

The SCV comes with air conditioning and heating systems for all weather driving, as well as a height-adjustable driver seat for ergonomic support.

The cargo bed designed to support diverse customer needs measures 3050 mm in length. Complementing the vehicle are the 16-inch tyres and durable leaf spring suspension on both front and rear axles.

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Mahindra’s Truck and Bus business (MTB), part of the Mahindra Group, has launched the Mahindra Furio 8 – a modern range of Light Commercial Vehicle trucks, which comes with ‘Get the Highest Mileage or Give the Truck Back’ guarantee.

The Furio 8 range is manufactured at Mahindra’s Chakan facility and will be introduced in two variants – 4-tyre cargo and 6-tyre cargo.

Vinod Sahay, President – Trucks, Buses, CE, Aerospace & Defense, Member of the Group Executive Board, Mahindra Group, said, “The launch of the new Mahindra Furio 8 range of LCV trucks with the guarantee, ‘Get The Highest Mileage or Give the Truck Back’, will help our customers earn the highest operating profit from their Furio 8 in this category. The new truck series sets new benchmarks of excellence and customer-centricity while reflecting our serious commitment to the segment and confidence in our products”.

Dr Venkat Srinivas, Business Head, MTB & CE, added, “Mahindra Furio 8 is engineered to deliver higher earnings, lower Total Cost of Ownership (TCO), minimal maintenance, and unmatched safety, comfort, and convenience – ensuring profit, peace of mind and higher prosperity for our customers.”

The Furio 8 comes is offered with Double Service Guarantees: 36-hour guaranteed turnaround at workshops or INR 3,000 per additional day; Back on road in 48 hours or INR 1,000 per additional day. The trucks are equipped with Mahindra iMAXX telematics technology, offering benefits like location tracking, geofencing, vehicle health monitoring, driver performance analytics and fleet dashboards among others.

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