Please find the attached Outcome of the Board Meeting held today i.e Friday, 29th May, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Cranex Ltd reported audited standalone net profit of Rs. 241.36 lakh for FY2026 ended March 31, 2026, up 24% from Rs. 194.62 lakh in FY2025. Total income grew 7.6% to Rs. 5,591.80 lakh from Rs. 5,196.36 lakh. The company's auditors V.R. Bansal & Associates issued a Qualified Opinion citing four key issues: incomplete PPE and inventory registers, unconfirmed trade receivables/payables, and non-compliance with Ind AS-109 for fair value measurement of related party transactions with associate IFE Cranex Elevators. Additionally, the company failed to apply equity method accounting for its JV investment in Shree-Cranex. The auditors note these qualifications are repetitive in nature.
The qualified audit opinion raises concerns about internal controls and asset verification, which may weigh on investor sentiment despite solid profit growth. Shareholders should monitor management's progress in addressing these audit observations.