Cranex Limited has secured fresh orders aggregating to approximately ₹18.52 crore for the manufacturing and supply of various Electric Overhead Travelling (EOT) Cranes and related products. The orders, received from Bharat Heavy Electricals Limited (BHEL) and Indian Railways, are intended for workshop infrastructure projects. With the addition of these new contracts, the company's total order book has crossed the significant milestone of ₹100 crore, strengthening its position in the infrastructure and material handling sectors.

The orders were disclosed under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015. The company's existing order book also includes orders from BEML Limited for railway projects, including the Vande Bharat programme, as well as orders for defence sector projects from organizations such as Bharat Electronics Limited (BEL), Military Engineer Services (MES), and Armoured Vehicles Nigam Limited (AVNL).

Order Details

The major orders received include two contracts from BHEL units and two from Indian Railways entities. The specific details of the orders are outlined below:

All orders are domestic in nature. The standard terms for quality, delivery schedule, and pricing have been mutually agreed upon by the parties involved. The company confirmed that no promoter, promoter group, or group companies hold any interest in the entities awarding these orders, and the transactions do not fall within related party transactions.

Cranex Limited reported a net profit of ₹241.36 lakh for the financial year ended March 31, 2026, representing a 24% increase compared to ₹194.62 lakh in the previous year. Revenue from operations for FY26 stood at ₹5,537.02 lakh, up from ₹5,153.76 lakh in FY25. The company’s Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. The results were published in newspapers on May 30, 2026, under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone Financial Performance

For the quarter ended March 31, 2026, the company recorded a net profit of ₹118.38 lakh on revenue from operations of ₹2,190.67 lakh. Total income for the quarter was ₹2,207.16 lakh, while total expenses amounted to ₹2,043.14 lakh. The basic earnings per share (EPS) for the quarter was ₹1.80, while diluted EPS stood at ₹1.48. For the full year, basic EPS increased to ₹3.67 from ₹3.21 in the previous year.

Consolidated Results

On a consolidated basis, net profit for FY26 was ₹241.14 lakh, compared to ₹194.63 lakh in the previous year. Revenue from operations remained consistent with standalone figures at ₹5,537.02 lakh. The consolidated results include the financials of associate company IFE Cranex Elevators and Escalators India Private Limited, which reported a net loss of ₹0.22 lakh for the year.

Audit Qualifications

V.R. Bansal & Associates, the statutory auditors, issued a qualified opinion on the standalone and consolidated financial results. The qualifications included the absence of a Property, Plant and Equipment (PPE) register for verification, with depreciation provided based on management-certified figures. Additionally, balances under trade receivables and payables were subject to confirmations and adjustments. The auditors noted that financial assets and liabilities, specifically trade receivables and long-term borrowings from IFE Cranex Elevators and Escalators India Private Limited, were not measured at fair value as required by Ind AS-109. The inventory register was also not produced for verification.

In the consolidated report, auditors further highlighted that the parent company did not apply the equity method of accounting for its investment in the joint venture M/s Shree-Cranex (JV), resulting in non-compliance with Ind AS 28. Management stated that the financial impact of the joint venture is insignificant and its financial statements are yet to be finalized.

Financial Position

As of March 31, 2026, the company’s total assets stood at ₹5,951.76 lakh, up from ₹5,671.47 lakh in the previous year. Total equity increased to ₹2,693.16 lakh from ₹2,440.74 lakh. Cash and cash equivalents improved significantly to ₹13.86 lakh from ₹0.81 lakh, driven by net cash inflows from investing activities. The company’s net worth was recorded at ₹2,693.16 lakh.