NSE: CROWN
CROWN LIFTERS LIMITED
Rents out heavy-lifting cranes, mainly large-capacity crawler cranes, to infrastructure, energy, and industrial project sites across India. The work involves deploying cranes at customer locations for jobs in renewable energy (wind turbine installation), oil & gas, cement, steel, refineries, metro rail, ports, roads, and high-speed rail projects. Revenue is earned as rental/usage charges for the equipment, with FY26 revenue from operations at Rs 3,971.91 lakhs, up about 13% from FY25. The asset base is heavy and expanding: an 800 MT crawler crane was acquired in March 2026 for around Rs 18 crore, and three 350T crawler cranes were ordered, with one already operational and two expected by end-FY26. Total FY26 capex was around Rs 50 crore, with depreciation at 18.5% of revenue reflecting the capital-intensive fleet. Materials and stores accounted for 32.2% of revenue, while employee cost was 12.2%. Management has guided towards crossing Rs 50 crore revenue in FY27, driven by the new equipment entering service and selective deployment in domestic heavy lifting. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Crane rental and heavy-lifting services (100%). Asset-heavy, cyclical heavy-equipment rental
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 20 | 19 | 28 | 35 | 40 |
| EBITDA (ex other income) | — | 5 | 15 | 33 | 21 |
| margin % | — | 28.4 | 53.8 | 93.8 | 52.7 |
| Owners' profit | — | 4 | 6 | 19 | 9 |
| EPS, as reported (₹) | (1.54) | 3.75 | 5.28 | 16.91 | 7.72 |
| ROE % · ROCE % | — · — | 18.5 · 10.1 | 15.3 · 15.1 | 30.7 · 21.5 | 11.5 · 12.5 |
| Debt / equity (x) | — | 0.57 | 0.80 | 0.76 | 0.73 |
| Cash from operations | 5 | 11 | 56 | 48 | 9 |
| Capex | — | (13) | (59) | (51) | (30) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8 | 9 | 11 | 10 | 10 | 9 | 12 | 13 |
| Profit before tax | 3 | 4 | 4 | 4 | 3 | 2 | 3 | 4 |
| Net profit | 2 | 3 | 3 | 3 | 2 | 2 | 2 | 3 |
| EPS (₹) | 1.90 | 2.35 | 2.90 | 2.49 | 1.95 | 1.44 | 1.93 | 2.53 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.4 | 26.7 | 35 of 130 | 74% |
| P/B | 1.6 | 3.1 | 37 of 112 | 68% |
| ROCE | 9.2 | 11.3 | 87 of 142 | 39% |
| ROE | 11.5 | 9.8 | 45 of 113 | 61% |
| Debt / Equity | 0.7 | 0.2 | 95 of 113 | 16% |
| EBITDA margin | 59.7 | 12.4 | 3 of 110 | 98% |
| Revenue growth | 29.3 | 20.6 | 38 of 114 | 67% |
| Profit growth | 4.5 | 17.1 | 64 of 109 | 42% |
| Market cap | 122 | 273 | 93 of 141 | 34% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 20 Oct 2026 · Sarfaraz Lakhani appointed independent additional director | management changes | medium | — | — |
| 20 Oct 2026 · Crown Lifters appoints new Independent Director | management changes | medium | — | — |
| 20 Oct 2026 · Sarfaraz Ahmedali Lakhani appointed as independent director | management changes | medium | — | — |
| 9 Oct 2026 · Quarterly Certificate from Registrar on Dematerialisation Compliance | compliance | minimal | — | — |
| 27 Sept 2026 · Crown Lifters: Spouse of Existing KMP Appointed as Director | management changes | medium | — | — |
| 27 Sept 2026 · AGM voting results - 3 resolutions passed, director remuneration hike rejected | board shareholder meetings | medium | — | — |
| 27 Sept 2026 · AGM Results: 3 Resolutions Passed, Directors Remuneration Hike Rejected | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Crown Lifters 24th AGM held on Sept 24, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading window closed from Oct 1 until Q2 results declaration | compliance | minimal | — | — |
| 1 Sept 2026 · 24th AGM on September 24, 2026 via VC; e-voting cutoff September 17 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.