Please find the attached Unaudited Financial Results (Standalone and Consolidated) of the Company for the First Quarter ended on 30th June, 2025.
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Cranex Limited reported Q1 FY26 revenue from operations of Rs. 898.31 lakhs, almost flat compared to Rs. 891.47 lakhs in Q1 FY25. Standalone profit after tax rose about 19.5% YoY to Rs. 24.40 lakhs (vs Rs. 20.42 lakhs), with basic EPS of Rs. 0.37 (vs Rs. 0.34). Total expenses stood at Rs. 879.28 lakhs against total income of Rs. 910.62 lakhs. Consolidated PAT was Rs. 24.20 lakhs, including a small share of loss from associate IFE Cranex Elevators. The statutory auditor, V.R. Bansal & Associates, issued a qualified/modified opinion on both standalone and consolidated results, flagging that PPE and inventory registers were not produced for verification, trade receivables/payables and loan balances are subject to confirmation, financial assets/borrowings from related party IFE Cranex were not measured at fair value under Ind AS-109, and the JV (M/s Shree-Cranex) was not accounted using the equity method under Ind AS-28.
Topline was essentially unchanged YoY and PAT growth was modest, so there is little positive earnings momentum for shareholders. The qualified audit opinion — covering missing asset registers, unconfirmed balances, and related-party fair-value/equity-method issues — raises governance red flags and may keep the stock under scrutiny until these qualifications are addressed.