Gauri Trading Pte Ltd has increased its shareholding in Cranes Software International Ltd to 6.15% following an open market acquisition on June 3, 2026. The entity purchased 22,17,187 shares, which constitutes 1.46% of the target company's total share capital. This transaction was executed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this acquisition, Gauri Trading Pte Ltd held 71,31,137 shares, accounting for 4.69% of the paid-up capital. The acquirer does not belong to the promoter or promoter group of Cranes Software International Ltd. The shares of the target company are listed on the BSE.

The total equity share capital and total diluted share capital of Cranes Software International Ltd remained unchanged at 30,39,14,450 shares after the transaction. The following table details the shareholding changes before and after the acquisition:

The disclosure confirms that the mode of acquisition was the open market. No other instruments such as warrants or convertible securities were involved in the transaction.

Cranes Software International Limited reported a widened standalone net loss of ₹2,005.57 lakh for the financial year ended March 31, 2026, compared to a loss of ₹1,993.34 lakh in the previous year. The standalone loss for the quarter ended March 31, 2026, stood at ₹528.60 lakh. On a consolidated basis, the company reported a net profit of ₹25.09 lakh for the quarter, while the full year resulted in a net loss of ₹1,439.34 lakh. The Board of Directors approved the audited financial results during a meeting held on June 15, 2026.

Financial Performance

The standalone total income for the quarter was ₹0.03 lakh, with total expenses reaching ₹528.63 lakh. Consolidated total income for the quarter was ₹312.87 lakh against total expenses of ₹300.09 lakh. For the full year, consolidated total income was ₹791.28 lakh, while total expenses stood at ₹1,098.41 lakh. The company operates under a single primary segment, IT/ITES.

Audit Qualifications and Compliance Issues

Chaturvedi Sohan & Co., the statutory auditors, issued a qualified opinion on the financial results. The auditors stated that due to negative net-worth and pending legal cases, there is significant uncertainty regarding the company's ability to continue as a going concern. The auditors expressed the view that the company should not prepare the accounts on a going concern basis.

The audit report highlighted material qualifications, including the non-provision of interest on liabilities such as Foreign Currency Convertible Bonds (FCCB), loans from UPS Capital Business Credit, and Bank of India loans. The auditors noted that had the interest on the FCCB liability of ₹29,085 lakh been provided, the loss for the quarter would have been higher by ₹549.36 lakh. Additionally, the company has not restated foreign exchange fluctuations on these liabilities.

Legal and Regulatory Status

The filing disclosed that Bank of India has declared the company and its promoters as "wilful defaulters." Legal proceedings under the Negotiable Instruments Act have been initiated by Bank of India against the company and its directors. The Central Bureau of Investigation (CBI) has also filed a chargesheet against the company and its directors, though proceedings have been stayed by the High Court of Karnataka.

The company stated it has not complied with RBI guidelines since March 2011 and has defaulted on the payment of various statutory dues. The auditors further noted that the securities provided to banks are not adequate to cover the outstanding amounts. Redemption of FCCBs amounting to ₹29,085 lakh, which fell due in April 2011, remains pending as of March 31, 2026.