Board Meeting Details

The Board of Directors meeting commenced at 3:00 PM and concluded at 5:00 PM on Thursday, August 13, 2026.

Key Approvals

1. Unaudited Financial Results: Approved the Un-audited Financial Results (Standalone and Consolidated) for the First Quarter ended June 30, 2026.

2. Internal Auditor Re-appointment: Re-appointed M/s. Amit R Aggarwal & Associates, Chartered Accountant as Internal Auditor for the financial year 2026-27, effective from August 13, 2026.

Financial Results Overview

Standalone Performance (₹ in lakhs)

  • Revenue from Operations: ₹989.44 (Q1 FY27) vs ₹898.31 (Q1 FY26)
  • Total Income: ₹998.42 (Q1 FY27) vs ₹910.63 (Q1 FY26)
  • Net Profit: ₹32.37 (Q1 FY27) vs ₹24.20 (Q1 FY26)
  • Basic EPS: ₹0.42 (Q1 FY27) vs ₹0.37 (Q1 FY26)
  • Diluted EPS: ₹0.42 (Q1 FY27) vs ₹0.28 (Q1 FY26)

Consolidated Performance (₹ in lakhs)

  • Revenue from Operations: ₹989.44 (Q1 FY27) vs ₹898.31 (Q1 FY26)
  • Total Income: ₹998.42 (Q1 FY27) vs ₹910.63 (Q1 FY26)
  • Net Profit: ₹32.37 (Q1 FY27) vs ₹24.20 (Q1 FY26)
  • Share of Loss from Associate: ₹0.12 lakhs (Q1 FY27)

Capital Structure Changes

During the quarter ended June 30, 2026:

  • 14,50,000 Convertible Warrants were converted into an equal number of Equity Shares of face value of ₹10 each at an issue price of ₹102 per Equity Share.
  • 7,60,000 Convertible Warrants were forfeited due to non-exercise of conversion option and non-payment of balance consideration within stipulated period.
  • Paid-up Equity Share Capital increased to ₹802.00 lakhs (80.20 lakh shares) from ₹657.00 lakhs (65.70 lakh shares).

Auditor's Qualified Opinion

Standalone Financials

V.R. Bansal & Associates issued a qualified review report citing:

  • Trade Receivables and Trade Payables balances subject to confirmations and adjustments
  • Non-measurement of Financial Assets and Liabilities at fair value as required by Ind AS-109
  • Non-application of Expected Credit Loss (ECL) method for impairment provisions
  • Inventory register not produced for verification, value based on management certification

Consolidated Financials

Additional qualifications for consolidated results:

  • Non-application of equity method of accounting for investment in joint venture Shree-Cranex (JV) formed with M/s Shree Construction on 23/09/2021
  • Loans and advances balances subject to confirmations and adjustments
  • Includes financial information of associate IFE Cranex Elevators & Escalators India Private Limited which reported net loss of ₹0.12 lakhs for Q1 FY27

Internal Auditor Profile

M/s. Amit R Aggarwal & Associates is a chartered accountants firm providing services in audit (statutory, internal, concurrent and tax), management consultancy, corporate and company law matters, international taxation, and accounting solutions.

Additional Information

The financial results have been reviewed by the Audit Committee and approved by the Board of Directors. The results will be published in newspapers as per Regulation 47 of Listing Regulations and are available on the company website www.cranexltd.com.