Key Financial Figures (Standalone)
Income Statement (₹ lakhs)
For Year Ended March 31, 2026 (Audited):
- Revenue from operations: ₹5,537.02
- Other Income: ₹54.78
- Total Income: ₹5,591.80
- Total Expenses: ₹5,268.47
- Profit before tax: ₹323.33
- Total Tax Expense: ₹81.97
- Net Profit for the year: ₹241.36
- Other Comprehensive Income (net of tax): ₹11.06
- Total Comprehensive Income: ₹252.41
- Paid-up Equity Share Capital: ₹657.00 (Face value ₹10/- each)
- Other Equity: ₹2,036.16
Earnings Per Share (EPS):
- Basic EPS: ₹3.67
- Diluted EPS: ₹3.01
For Quarter Ended March 31, 2026 (Audited):
- Revenue from operations: ₹2,190.67
- Other Income: ₹16.49
- Total Income: ₹2,207.16
- Total Expenses: ₹2,043.14
- Profit before tax: ₹164.02
- Total Tax Expense: ₹45.64
- Net Profit for the quarter: ₹118.38
- Other Comprehensive Income (net of tax): ₹2.54
- Total Comprehensive Income: ₹120.91
Earnings Per Share (EPS) for Quarter:
- Basic EPS: ₹1.80
- Diluted EPS: ₹1.48
Balance Sheet (Standalone) as at March 31, 2026 (₹ lakhs)
- Total Assets: ₹5,951.76
- Non-Current Assets: ₹1,094.90
- Property, Plant and Equipment: ₹213.71
- Financial Assets: ₹271.99 (Other financial assets)
- Deferred Tax Assets (Net): ₹1.13
- Other Non-current assets: ₹618.18
- Current Assets: ₹4,856.87
- Inventories: ₹618.18
- Trade Receivables: ₹3,653.48
- Cash and Cash Equivalents: ₹13.86
- Other Bank Balances: ₹193.88
- Other Financial Assets: ₹231.33
- Other Current Assets: ₹146.14
- Total Equity: ₹2,693.16
- Equity Share Capital: ₹657.00
- Other Equity: ₹2,036.16
- Non-Current Liabilities: ₹348.58
- Borrowings: ₹252.93
- Other Liabilities: ₹56.42
- Deferred Tax Liabilities (Net): ₹39.22
- Current Liabilities: ₹2,910.03
- Short-term Borrowings: ₹1,845.07
- Trade Payables: ₹710.99
- Micro, small and medium enterprises: ₹6.22
- Other creditors: ₹704.77
- Other Financial Liabilities: ₹75.19
- Other Current Liabilities: ₹215.21
- Provisions: ₹28.65
- Current Tax Liabilities (Net): ₹34.92
Cash Flow Statement (Standalone) for Year Ended March 31, 2026 (₹ lakhs)
- Net Cash from Operating Activities: (₹122.78)
- Net Cash from Investing Activities: ₹185.15
- Net Cash from Financing Activities: (₹49.32)
- Net Increase in Cash: ₹13.05
- Cash and Cash Equivalents at end: ₹13.86
- Balance with banks (Current Account): ₹8.92
- Cash in Hand: ₹4.94
Key Financial Figures (Consolidated)
Income Statement (₹ lakhs)
For Year Ended March 31, 2026 (Audited):
- Total Income: ₹5,591.80
- Total Expenses: ₹5,268.47
- Profit before tax and share of associate: ₹323.33
- Share of Loss of Associate (net of tax): (₹0.22)
- Profit before tax: ₹323.11
- Total Tax Expense: ₹81.97
- Net Profit for the year: ₹241.14
- Other Comprehensive Income (net of tax): ₹11.06
- Total Comprehensive Income: ₹252.20
- Paid-up Equity Share Capital: ₹657.00
- Other Equity: ₹2,014.42
Earnings Per Share (EPS):
- Basic EPS: ₹3.67
- Diluted EPS: ₹3.01
For Quarter Ended March 31, 2026 (Audited):
- Total Income: ₹2,207.16
- Total Expenses: ₹2,043.14
- Profit before tax and share of associate: ₹164.02
- Share of Profit of Associate (net of tax): ₹0.01
- Profit before tax: ₹164.03
- Total Tax Expense: ₹45.64
- Net Profit for the quarter: ₹118.39
- Other Comprehensive Income (net of tax): ₹2.54
- Total Comprehensive Income: ₹120.93
Earnings Per Share (EPS) for Quarter:
- Basic EPS: ₹1.80
- Diluted EPS: ₹1.48
Balance Sheet (Consolidated) as at March 31, 2026 (₹ lakhs)
- Total Assets: ₹5,930.02
- Non-Current Assets: ₹1,073.16
- Property, Plant and Equipment: ₹608.07
- Investment in Associates and Joint Ventures: ₹191.97
- Financial Assets: ₹272.00 (₹0.01 Non-Current Investments + ₹271.99 Other financial assets)
- Other Non-current assets: ₹1.13
- Current Assets: ₹4,856.87
- Inventories: ₹618.18
- Trade Receivables: ₹3,653.48
- Cash and Cash Equivalents: ₹13.86
- Other Bank Balances: ₹193.88
- Other Financial Assets: ₹231.33
- Other Current Assets: ₹146.14
- Total Equity: ₹2,671.42
- Equity Share Capital: ₹657.00
- Other Equity: ₹2,014.42
- Non-Current Liabilities: ₹348.58
- Borrowings: ₹252.93
- Provisions: ₹56.42
- Deferred Tax Liabilities (Net): ₹39.22
- Current Liabilities: ₹2,910.03
- Short-term Borrowings: ₹1,845.07
- Trade Payables: ₹710.99
- Micro, small and medium enterprises: ₹6.22
- Other creditors: ₹704.77
- Other Financial Liabilities: ₹75.19
- Other Current Liabilities: ₹215.21
- Provisions: ₹28.65
- Current Tax Liabilities (Net): ₹34.92
Cash Flow Statement (Consolidated) for Year Ended March 31, 2026 (₹ lakhs)
- Net Cash from Operating Activities: (₹123.00)
- Net Cash from Investing Activities: ₹185.37
- Net Cash from Financing Activities: (₹49.32)
- Net Increase in Cash: ₹13.05
- Cash and Cash Equivalents at end: ₹13.86
- Balance with banks (Current Account): ₹8.92
- Cash in Hand: ₹4.94
Nature of Opinion
Qualified Opinion issued by V.R. BANSAL & ASSOCIATES, Chartered Accountants (Firm Regn No.: 016534N)
Basis for Qualified Opinion (Standalone)
1. Property, Plant and Equipment (PPE) register not produced for verification. Company is updating and reconciling PPE register. Depreciation provided based on management-certified figures.
2. Balances under Trade Receivables and Trade Payables are subject to confirmations and adjustments.
3. Financial Assets and Liabilities (Trade Receivables and long-term borrowings from IFE Cranex Elevators and Escalators India Private Limited) not measured at fair value as required by Ind AS-109. Impairment provisions and fair value measurements not done per Expected Credit Loss (ECL) method.
4. Inventory register not produced for verification. Inventory value provided based on management-certified figures.
Basis for Qualified Opinion (Consolidated)
Includes all standalone qualifications plus:
5. Parent Company entered Joint Venture agreement with Shree Construction on 23/09/2021 forming Shree-Cranex (JV) but has not applied Equity method of accounting for the investment, not complying with Ind AS 28.
Qualified Conclusion
Except for the possible effects of matters stated in the basis for qualified opinion, nothing has come to auditor's attention that causes them to believe that the statements contain any material misstatement.
Other Matters
- Consolidated results include financial information of associate IFE Cranex Elevators and Escalators India Private Limited (audited by their auditors), reflecting net loss after tax of ₹0.22 lakhs for FY26.
- Q4 results represent the balancing figure between audited full-year figures and published unaudited year-to-date figures up to Q3.
Management Response to Audit Qualifications
Management provided a Statement on Impact of Audit Qualifications as required under Regulation 33(4) of SEBI LODR:
For PPE Register Issue
"The Company has calculated the Depreciation figures as per applicable rules. The Company is in the process of updating and reconciling the Property, Plant and Equipment (PPE) register. Accordingly, the financial impact of the audit qualification, if any, cannot presently be quantified with reasonable accuracy."
For Trade Receivables/Payables Confirmations
"The Company is in the process of obtaining confirmations of balances under Trade Receivables and Trade Payables. Accordingly, the impact of adjustments, if any, arising upon confirmation and reconciliation is presently not ascertainable."
For Ind AS-109 Non-compliance
"The Company does not expect any change in the long term borrowings taken from IFE Cranex Elevators and Escalators India Private Limited. There is no Expected Credit Loss (ECL)."
For Inventory Register Issue
"The Company is in the process of updating and verifying the inventory records. Therefore, the financial impact of any differences that may arise on verification of the inventory register cannot be presently determined and is not expected to be reasonably estimable at this stage."
For Joint Venture Accounting Issue (Consolidated only)
Not specifically addressed in management's response annexure.
Additional Information
- The Board meeting was held on May 29, 2026, from 3:00 PM to 4:30 PM.
- The company operates in one reportable business segment: manufacturing of EOT cranes and installation of escalators.
- For diluted EPS calculation, effect has been given for conversion of 22,10,000 warrants into equity shares.
- The audit qualification is noted as repetitive from prior periods.
- Corresponding figures of previous year/quarters have been re-grouped/re-classified wherever necessary.