Forma International

Faridabad, India Founded: 2021 • Age: 5 yrs Listed
Farm equipment manufacturing and agricultural support services in India.
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About Forma International

Forma International is a publicly listed company based in Faridabad (India) founded in 2021. Farm equipment manufacturing and agricultural support services in India. The company has 1,352 employees. Its Indian entity Action Construction Equipment Limited reported revenue of ₹3,390 Cr. Forma International offers products and services including Tractors and Product Support. Its focus areas include Food and Agriculture, Industrial Supplies, Agricultural Equipment and Tractors and Implements.

Company details

Forma is recognized as a farm equipment company that was acquired by Action Construction Equipment Limited in 2009 and focuses on producing tractors with advanced European technology in India. The F Series, including models like F40, F50, F60, F45, F75, and F90, is manufactured for global markets and designed to enhance fuel efficiency through features such as aerodynamic bonnets and powerful engines ranging from 40 to 90 HP. Social commitments are evident in the provision of free 247 emergency services and pathology tests to over 2.5 million people. These efforts are aimed at supporting agricultural operations and community welfare, with operations based in Surajkund, NCR, India.

Operational Areas
Industrial Goods & Manufacturing → Insect Farming Equipment
Key Metrics
  • Market Cap
    ₹12,797 Cr

    ACE · NSE

  • Share Price
    ₹1,053.40

    -1.97% today

  • Revenue
    ₹3,280 Cr

    FY 2025-26 · -1.4% YoY

  • EBITDA
    ₹504 Cr

    Margin 15.4%

  • Net Profit
    ₹413 Cr

    FY 2025-26 · +1.8% YoY

  • P/E (TTM)
    30.2x

    P/B 6.5x

  • ROE
    22.9%

    ROCE 31.6%

  • Debt / Equity
    0.01

    Interest cover 4.7x

  • Employee Count
    1,352

Products & Services of Forma International

Forma International offers a comprehensive portfolio of products and services, including Tractors and Product Support.

Tractors
Agricultural Equipment

Tractors are manufactured for farming applications, featuring engines with capacities from 40 to 90 HP and gear options for various field conditions.

Product Support
Support Services

Support services are provided for products, including brochures and resources to assist users in maintaining and operating the equipment.

Apps and channels of Forma International

its YouTube channel FormaRomania has 416 subscribers and 8 videos.

FormaRomania
YouTube 416 subscribers 8 videos Film & Animation
Open channel

Videos from Forma International

The most watched videos on Forma International's YouTube channel, FormaRomania (416 subscribers). Click a video to play it here.

Kisano के लिए Forma ने लांच किया F40, F45, F50, F60, F75 और F90 Tractor की रेंज 1
13.7K views
Forma with Cultivator
10.8K views
Forma with Trolley
9.5K views
Forma with Super Seeder
5.9K views

More on FormaRomania.

Board of directors of Action Construction Equipment Limited (Forma International)

Action Construction Equipment Limited is the primary company behind Forma International. The board of Action Construction Equipment Limited currently have 8 directors; the longest-serving is Mona Agarwal, appointed in 1995. 14 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Mona Agarwal
DIN 00057653
Whole-time director13 Jan 199531 yrs 9 moAction Construction Equipment Limited
Vijay Agarwal
DIN 00057634
Managing Director13 Jan 199531 yrs 9 moAction Construction Equipment Limited
Sorab Agarwal
DIN 00057666
Whole-time director20 Mar 199828 yrs 7 moAction Construction Equipment Limited
Surbhi Garg
DIN 01558782
Whole-time director12 Nov 201114 yrs 11 moAction Construction Equipment Limited
Avinash Parkash Gandhi
DIN 00161107
Director01 Oct 20197 yrsAction Construction Equipment Limited
Divya Singal
DIN 08722144
Director01 Apr 20206 yrs 6 moAction Construction Equipment Limited
Shriniwas Vashisht
DIN 06572418
Director24 Sep 20206 yrsAction Construction Equipment Limited
Jagan Nath Chamber
DIN 08841478
Director06 Nov 20205 yrs 11 moAction Construction Equipment Limited

IPO & Listings of Forma International

Forma International is a publicly listed company on the NSE with ticker symbol ACE in India, operating in the Capital Goods-Non Electrical Equipment sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: ACE
  • Listed entityAction Construction Equipment Limited
  • Exchange sectorCapital Goods-Non Electrical Equipment

Financials of Forma International

Exchange-reported figures of Action Construction Equipment Limited, the listed company behind Forma International (NSE: ACE).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹3,280 Cr
-1.4% YoY
EBITDA
₹504 Cr
-0.4% YoY
Profit After Tax
₹413 Cr
+1.8% YoY
Net Worth
₹2,011 Cr
+24.5% YoY
Total Assets
₹2,025 Cr
+23.7% YoY
Total Debt
₹7.91 Cr
-51.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3,2803,3272,9142,1601,6301,2271,156
Revenue growth-1.4%+14.2%+34.9%+32.5%+32.8%+6.1%-
EBITDA50450640322115111991.55
EBITDA margin+15.4%+15.2%+13.8%+10.2%+9.3%+9.7%+7.9%
Profit before tax55754943423413710868.03
Net profit41340632915710575.8451.70
Net profit margin+12.6%+12.2%+11.3%+7.3%+6.4%+6.2%+4.5%
EPS (₹)34.8634.3627.5614.418.827.034.63
Balance sheet
Total assets2,0251,6371,239930788580529
Net worth2,0111,6151,230919754523443
Total debt7.9116.444.467.4531.0254.5882.41
Cash & bank77.2055.4711048.9614.3136.519.27
Net working capital(153)(119)(17.14)43.4612310669.51
Cash flow
Cash from operations41741243327410486.0647.98
Cash from investing(350)(382)(368)(218)(201)(16.23)(19.60)
Cash from financing(51.91)(28.99)(38.66)(41.01)70.80(40.34)(33.43)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue7861,029855744652961875757
Revenue growth (YoY)+20.5%+7.1%-2.3%-1.7%-11.2%---
Other income54.61(6.12)35.7329.3151.148.3930.1734.21
EBITDA11817213010992.83164135109
EBITDA margin+15.0%+16.7%+15.2%+14.6%+14.2%+17.0%+15.4%+14.3%
Depreciation9.149.518.928.758.017.307.176.99
Interest4.943.354.675.858.243.888.409.03
Profit before tax158153152124128161149127
Tax38.9342.5135.4733.6330.0042.3337.8131.93
Net profit11911111690.0697.7211911294.82
EPS (₹)10.049.329.787.578.219.969.387.96
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3,2743,3202,9122,1581,6301,2271,156
Revenue growth-1.4%+14.0%+34.9%+32.4%+32.9%+6.1%-
EBITDA50150040322515211991.85
EBITDA margin+15.3%+15.1%+13.8%+10.4%+9.3%+9.7%+7.9%
Profit before tax56654343321913810868.21
Net profit42440132816010676.1951.85
Net profit margin+13.0%+12.1%+11.3%+7.4%+6.5%+6.2%+4.5%
EPS (₹)35.7233.9027.5113.548.897.064.64
Balance sheet
Total assets2,0141,6161,227919788580529
Net worth2,0011,5971,220909755523443
Total debt6.7314.694.256.9530.2754.5882.41
Cash & bank75.5240.1994.8432.4114.0236.449.25
Net working capital(150)(129)(31.80)28.6112510871.00
Cash flow
Cash from operations41240243428699.3686.0647.95
Cash from investing(332)(372)(368)(246)(202)(16.23)(19.58)
Cash from financing(51.24)(28.95)(38.35)(40.71)75.13(40.39)(33.43)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue7821,028853741652959873754
Revenue growth (YoY)+19.9%+7.2%-2.3%-1.8%-11.1%---
Other income54.43(6.26)35.6341.0451.018.3029.8434.14
Total expenses666858724630560796743646
EBITDA11617012911191.54163131108
EBITDA margin+14.9%+16.5%+15.1%+14.9%+14.0%+17.0%+15.0%+14.3%
Depreciation8.879.198.588.437.716.927.086.90
Interest4.923.334.645.838.203.848.379.03
Profit before tax157151151137127160145126
Tax38.2042.3435.2633.6229.8142.0937.7831.89

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue7861,029855744652961875757
Revenue growth (YoY)+20.5%+7.1%-2.3%-1.7%-11.2%---
Other income54.61(6.12)35.7329.3151.148.3930.1734.21
EBITDA11817213010992.83164135109
EBITDA margin+15.0%+16.7%+15.2%+14.6%+14.2%+17.0%+15.4%+14.3%
Depreciation9.149.518.928.758.017.307.176.99
Interest4.943.354.675.858.243.888.409.03
Profit before tax158153152124128161149127
Tax38.9342.5135.4733.6330.0042.3337.8131.93
Net profit11911111690.0697.7211911294.82
EPS (₹)10.049.329.787.578.219.969.387.96
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3,2803,3272,9142,1601,6301,2271,156
Revenue growth-1.4%+14.2%+34.9%+32.5%+32.8%+6.1%-
Other income11010077.1041.1210.7815.314.15
Total expenses2,7762,8212,5111,9391,4781,1081,065
Employee cost16013812199.7684.8172.1785.69
EBITDA50450640322115111991.55
EBITDA margin+15.4%+15.2%+13.8%+10.2%+9.3%+9.7%+7.9%
Depreciation35.1928.3123.2418.0015.4113.9413.01
Interest22.1128.6523.1710.299.5212.2314.66
Profit before tax55754943423413710868.03
Tax14214010660.7632.3028.3215.56
Net profit41340632915710575.8451.70
Net profit margin+12.6%+12.2%+11.3%+7.3%+6.4%+6.2%+4.5%
EPS (₹)34.8634.3627.5614.418.827.034.63
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23.8223.8223.8223.8223.8222.7022.70
Reserves & surplus1,9941,5991,211895730501420
Shareholders' funds (net worth)2,0111,6151,230919754523443
Minority interest0.071.711.661.620.240.260.30
Secured loans0.1114.473.886.207.6054.2281.98
Unsecured loans7.801.970.581.2523.420.360.43
Total debt7.9116.444.467.4531.0254.5882.41
Total liabilities2,0251,6371,239930788580529
Assets
Gross block991894740640593563537
Net block781716580487452429412
Capital work in progress49.2128.6543.6424.4124.2912.5519.35
Investments1,28391859434917931.4427.94
Inventories605515553419333266271
Sundry debtors284265164169189225147
Cash & bank balances77.2055.4711048.9614.3136.519.27
Loans & advances97.1311275.0762.7367.3538.2652.39
Total current assets1,064947903700604566480
Total current liabilities1,2171,066920656481459410
Net working capital(153)(119)(17.14)43.4612310669.51
Total assets2,0251,6371,239930788580529
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash48.8448.2121.485.7232.893.398.45
Net cash from operating activities41741243327410486.0647.98
Net cash from investing activities(350)(382)(368)(218)(201)(16.23)(19.60)
Net cash from financing activities(51.91)(28.99)(38.66)(41.01)70.80(40.34)(33.43)
Net change in cash15.470.6426.7315.76(27.16)29.50(5.06)
Closing cash77.2055.4711048.9614.3136.519.27
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-1.4%+14.2%+34.9%+32.5%+32.8%+6.1%-
EBITDA growth-0.4%+25.4%+82.5%+45.9%+27.3%+29.9%-
PBT growth+1.4%+26.5%+85.7%+70.3%+27.0%+58.9%-19.2%
Net income growth+1.8%+23.6%+109.4%+49.8%+38.2%+46.7%-
Revenue CAGR (3Y)+15.0%+26.9%+33.4%+23.2%+6.7%+4.1%+15.5%
EBITDA CAGR (3Y)+31.6%+49.5%+50.2%+34.1%+15.7%+9.1%+32.4%
Profitability & leverage
Net income margin+12.7%+12.3%+11.3%+8.0%+6.4%+6.5%+4.5%
Return on capital employed+31.6%+40.2%+42.2%+28.4%+21.5%+21.7%+16.2%
Return on net worth+22.9%+28.8%+30.6%+20.7%+16.4%+16.5%+11.9%
Debt / equity0.010.010.010.020.070.140.15
Long-term debt / equity0.000.000.000.000.020.060.10
Interest cover4.726.006.105.077.0011.6518.67
Efficiency & per share
Fixed asset turnover3.484.074.223.502.822.232.33
Inventory turnover5.866.236.005.745.444.574.78
Debtors turnover11.9515.5117.4712.067.886.607.93
EPS (₹)34.8634.3627.5614.418.827.034.63
Dividend per share (₹)2.002.002.001.000.600.500.50
Book value per share (₹)169.45136.28103.7377.1463.3246.1139.00
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue7821,028853741652959873754
Revenue growth (YoY)+19.9%+7.2%-2.3%-1.8%-11.1%---
Other income54.43(6.26)35.6341.0451.018.3029.8434.14
Total expenses666858724630560796743646
EBITDA11617012911191.54163131108
EBITDA margin+14.9%+16.5%+15.1%+14.9%+14.0%+17.0%+15.0%+14.3%
Depreciation8.879.198.588.437.716.927.086.90
Interest4.923.334.645.838.203.848.379.03
Profit before tax157151151137127160145126
Tax38.2042.3435.2633.6229.8142.0937.7831.89
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3,2743,3202,9122,1581,6301,2271,156
Revenue growth-1.4%+14.0%+34.9%+32.4%+32.9%+6.1%-
Other income12199.6476.1922.2410.7915.314.03
Total expenses2,7732,8212,5081,9331,4781,1081,064
Employee cost15813711998.4384.4572.0985.62
EBITDA50150040322515211991.85
EBITDA margin+15.3%+15.1%+13.8%+10.4%+9.3%+9.7%+7.9%
Depreciation33.9127.6522.8917.6615.2813.9413.01
Interest22.0028.5623.1410.249.4912.2314.66
Profit before tax56654343321913810868.21
Tax14113910657.9632.4328.3215.56
Net profit42440132816010676.1951.85
Net profit margin+13.0%+12.1%+11.3%+7.4%+6.5%+6.2%+4.5%
EPS (₹)35.7233.9027.5113.548.897.064.64
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23.8223.8223.8223.8223.8222.7022.70
Reserves & surplus1,9771,5731,201885731501420
Shareholders' funds (net worth)2,0011,5971,220909755523443
Secured loans0.1114.473.886.207.6054.2281.98
Unsecured loans6.620.220.370.7522.670.360.43
Total debt6.7314.694.256.9530.2754.5882.41
Total liabilities2,0141,6161,227919788580529
Assets
Gross block969874734634584555530
Net block760696574482443421405
Capital work in progress49.2128.6543.6424.4124.2912.5518.21
Investments1,29192760335818637.9434.44
Inventories603513551417332266270
Sundry debtors287270166169190225147
Cash & bank balances75.5240.1994.8432.4114.0236.449.25
Loans & advances95.8311174.7562.3666.8238.2652.39
Total current assets1,062935887681603565479
Total current liabilities1,2121,064919653478457408
Net working capital(150)(129)(31.80)28.6112510871.00
Total assets2,0141,6161,227919788580529
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash33.5832.694.995.4332.813.378.44
Net cash from operating activities41240243428699.3686.0647.95
Net cash from investing activities(332)(372)(368)(246)(202)(16.23)(19.58)
Net cash from financing activities(51.24)(28.95)(38.35)(40.71)75.13(40.39)(33.43)
Net change in cash29.060.8927.70(0.45)(27.38)29.44(5.06)
Closing cash75.5240.1994.8432.4114.0236.449.25
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-1.4%+14.0%+34.9%+32.4%+32.9%+6.1%-
EBITDA growth+0.3%+24.0%+79.3%+47.6%+27.6%+29.9%-
PBT growth+4.3%+25.4%+97.7%+58.4%+27.5%+59.1%-19.2%
Net income growth+5.8%+22.1%+104.6%+51.7%+38.7%+46.9%-
Revenue CAGR (3Y)+14.9%+26.8%+33.4%+23.1%+6.7%+4.1%+15.5%
EBITDA CAGR (3Y)+30.6%+48.6%+50.0%+34.8%+15.9%+9.0%+32.1%
Profitability & leverage
Net income margin+13.0%+12.2%+11.3%+7.5%+6.5%+6.5%+4.6%
Return on capital employed+32.4%+40.2%+42.5%+26.9%+21.6%+21.8%+16.2%
Return on net worth+23.6%+28.7%+30.8%+19.4%+16.6%+16.6%+12.0%
Debt / equity0.010.010.010.020.070.140.15
Long-term debt / equity0.000.000.000.000.020.060.10
Interest cover4.716.056.094.946.9211.6018.59
Efficiency & per share
Fixed asset turnover3.554.134.263.542.862.262.36
Inventory turnover5.866.246.015.765.454.584.79
Debtors turnover11.7415.2417.3912.037.876.607.94
EPS (₹)35.7233.9027.5113.548.897.064.64
Dividend per share (₹)0.002.002.001.000.600.500.50
Book value per share (₹)168.05134.13102.8976.3563.4146.1339.00

Top companies in Insect Farming Equipment

3 companies that operate in the same segment as Forma International (Insect Farming Equipment) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Weather Risk Management Services
Climate risk management services focused on agriculture and businesses.
2004Delhi, Delhi, IndiaUSD 2.32 M95
Swaraj Tractors
Tractor manufacturing and agricultural equipment services in India.
1974Mohali, Punjab, India
Mahindra Tractors
Manufactures and supplies tractors and farm implements for agricultural use.
1945Mumbai, Maharashtra, India
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Frequently Asked Questions about Forma International

Forma International was founded in 2021.

Forma International is headquartered in Faridabad, India. It is registered at Faridabad, Haryana, India.

Forma International has 1,352 employees.

The primary company behind Forma International, Action Construction Equipment Limited, reported revenue of ₹3,390 Cr for FY 2026, down 1% year on year.

Forma is recognized as a farm equipment company that was acquired by Action Construction Equipment Limited in 2009 and focuses on producing tractors with advanced European technology in India. The F Series, including models like F40, F50, F60, F45, F75, and F90, is manufactured for global markets and designed to enhance fuel efficiency through features such as aerodynamic bonnets and powerful engines ranging from 40 to 90 HP. Social commitments are evident in the provision of free 247 emergency services and pathology tests to over 2.5 million people. These efforts are aimed at supporting agricultural operations and community welfare, with operations based in Surajkund, NCR, India.

Forma International offers Tractors and Product Support.

Yes, Forma International is publicly traded on NSE under the ticker symbol ACE.

Forma International operates through Action Construction Equipment Limited.

The legal entities of Forma International currently have 10 directors, including Mona Agarwal, Avinash Parkash Gandhi, Anil Kumar and others.

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