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Cranex Q2 FY27 results: net profit up 36.4% to ₹0.90 crore, revenue up 13.0%
Cranex Ltd reported consolidated Q2 FY27 revenue of ₹15.11 crore and a net profit of ₹0.90 crore, up 13.0% and 36.4% from Q2 FY26. EBITDA rose 30.2% to ₹1.38 crore, while the margin increased 1.2 percentage points to 9.1%.
Key points
- Consolidated revenue was ₹15.11 crore in Q2 FY27, up 13.0% from ₹13.37 crore in Q2 FY26.
- EBITDA was ₹1.38 crore, up 30.2% from ₹1.06 crore, with margin rising 1.2 percentage points to 9.1%.
- Net profit was ₹0.90 crore against ₹0.66 crore, while basic EPS was ₹1.14 against ₹1.01.
- For H1 FY27, revenue was ₹25.0 crore, up 11.9% from ₹22.35 crore, and net profit was ₹1.22 crore, up 35.6%.
- Total assets increased to ₹62.34 crore from ₹59.3 crore, while borrowings fell to ₹13.6 crore from ₹20.98 crore.
How did Cranex perform in Q2 FY27?
Cranex reported consolidated revenue of ₹15.11 crore in Q2 FY27, up 13.0% from ₹13.37 crore in Q2 FY26 and 52.8% from ₹9.89 crore in Q1 FY27. Total income was ₹15.25 crore. On the standalone basis, revenue was ₹15.11 crore and net profit was ₹0.90 crore.
Consolidated EBITDA was ₹1.38 crore, up 30.2% from ₹1.06 crore in Q2 FY26 and from ₹0.69 crore in Q1 FY27. The EBITDA margin was 9.1%, compared with 7.9% and 7.0%, respectively. PBT rose to ₹1.20 crore from ₹0.74 crore and ₹0.43 crore.
Net profit for the quarter was ₹0.90 crore, against ₹0.66 crore in Q2 FY26 and ₹0.32 crore in Q1 FY27. Basic EPS was ₹1.14, compared with ₹1.01 and ₹0.42. The net profit margin was 5.9%, up from 5.0% and 3.3%.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 15.11 | 9.89 | 13.37 | +13.0% | +52.8% |
| Other income | 0.14 | 0.09 | 0.12 | +16.7% | +55.6% |
| Total expenses | 14.05 | 9.55 | 12.75 | +10.2% | +47.1% |
| EBITDA | 1.38 | 0.69 | 1.06 | +30.2% | +100.0% |
| EBITDA margin | 9.1% | 7.0% | 7.9% | +1.2 pp | +2.1 pp |
| Profit before tax | 1.20 | 0.43 | 0.74 | +62.2% | +179.1% |
| Tax | 0.30 | 0.11 | 0.07 | +328.6% | +172.7% |
| Net profit | 0.90 | 0.32 | 0.66 | +36.4% | +181.3% |
| EPS (₹) | 1.14 | 0.42 | 1.01 | +12.9% | +171.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Cranex's costs and profit?
Total expenses were ₹14.05 crore in Q2 FY27, up 10.2% from ₹12.75 crore a year earlier. Cost of materials fell 7.9% to ₹10.70 crore from ₹11.62 crore, while finance costs fell 30.6% to ₹0.25 crore from ₹0.36 crore and depreciation fell 12.5% to ₹0.07 crore from ₹0.08 crore.
Employee cost rose 9.1% to ₹1.79 crore from ₹1.64 crore, while other expenses increased 25.4% to ₹2.52 crore from ₹2.01 crore. Other income rose 16.7% to ₹0.14 crore from ₹0.12 crore. There was no exceptional item in either quarter.
Tax expense increased to ₹0.30 crore from ₹0.07 crore, a difference of ₹0.23 crore. Despite the higher tax expense, PBT increased by ₹0.46 crore to ₹1.20 crore and net profit increased by ₹0.24 crore to ₹0.90 crore compared with Q2 FY26.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 10.70 | 11.62 | −0.92 | −7.9% |
| Employee cost | 1.79 | 1.64 | +0.15 | +9.1% |
| Finance costs | 0.25 | 0.36 | −0.11 | −30.6% |
| Depreciation | 0.07 | 0.08 | −0.01 | −12.5% |
| Other expenses | 2.52 | 2.01 | +0.51 | +25.4% |
| Total expenses | 14.05 | 12.75 | +1.30 | +10.2% |
| Other income | 0.14 | 0.12 | +0.02 | +16.7% |
| Tax | 0.30 | 0.07 | +0.23 | +328.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Cranex reported consolidated revenue of ₹25.0 crore, up 11.9% from ₹22.35 crore in H1 FY26. Total income rose 11.7% to ₹25.23 crore from ₹22.59 crore, while PBT increased 55.2% to ₹1.63 crore from ₹1.05 crore.
Net profit for the first half was ₹1.22 crore, up 35.6% from ₹0.90 crore in H1 FY26. Basic EPS increased 13.0% to ₹1.56 from ₹1.38. The period was reported on a consolidated basis.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 25 | 22.35 | +11.9% |
| Profit before tax | 1.63 | 1.05 | +55.2% |
| Net profit | 1.22 | 0.90 | +35.6% |
| EPS (₹) | 1.56 | 1.38 | +13.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹62.34 crore, compared with ₹59.3 crore at 31 March 2026. Total equity rose to ₹39.03 crore from ₹26.71 crore, while borrowings fell to ₹13.6 crore from ₹20.98 crore and cash declined to ₹0.06 crore from ₹0.14 crore.
Inventories increased to ₹12.9 crore from ₹6.18 crore, while trade receivables fell to ₹31.26 crore from ₹36.53 crore. Trade payables declined to ₹6.15 crore from ₹7.11 crore at the previous balance sheet date.
For H1 FY27, operating cash flow was negative ₹0.52 crore, compared with negative ₹1.69 crore in H1 FY26. Investing cash flow was negative ₹2.75 crore against negative ₹0.41 crore, while financing cash flow was positive ₹3.19 crore against positive ₹2.11 crore. Capital expenditure was ₹0.07 crore compared with ₹0.49 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 62.34 | 59.30 |
| Total equity | 39.03 | 26.71 |
| Borrowings | 13.60 | 20.98 |
| Cash and equivalents | 0.06 | 0.14 |
| Inventories | 12.90 | 6.18 |
| Trade receivables | 31.26 | 36.53 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.52 | −1.69 |
| Cash from investing | −2.75 | −0.41 |
| Cash from financing | 3.19 | 2.11 |
| Capital expenditure | 0.07 | 0.49 |
Source: Company's results filing (XBRL).
How has Cranex done over the last 8 quarters?
Revenue rose year on year in each of the last six quarters. It reached ₹21.91 crore in Q4 FY26, the highest point in the reported series, and fell to ₹9.89 crore in Q1 FY27 before rising to ₹15.11 crore in Q2 FY27.
Net profit reached ₹1.18 crore in Q4 FY26, compared with ₹0.32 crore in Q1 FY27 and ₹0.90 crore in Q2 FY27. The EBITDA margin was 9.2% in Q4 FY26, fell to 7.0% in Q1 FY27 and rose to 9.1% in Q2 FY27.
What did the auditors point out?
The auditors did not express an audit opinion because the review of interim financial information was substantially less in scope than an audit. They issued a qualified conclusion, subject to the possible effects of matters in the basis of their qualified opinion.
The qualifications stated that trade receivable and trade payable balances were subject to confirmation and adjustment, if any. Trade receivables and long-term borrowings taken from IFE Cranex Elevators and Escaiators India Private Limited had not been measured at fair value under Ind AS-109, and impairment provisions and fair-value measurements had not been measured using the Expected Credit Loss method.
The auditors also stated that the inventory register was not produced for verification and inventory values were based on figures certified by management. Except for the possible effects of these matters, nothing came to their attention that caused them to believe the statement had not disclosed the required information or contained a material misstatement.
How did other Industrial Products companies do?
Among 56 Industrial Products companies that had filed this quarter, the median revenue growth was 30.4%. Cranex’s revenue growth was lower than the peer median; 18 peers grew slower than Cranex and 38 grew faster than Cranex.
Of the 51 peers for which profit was compared, 38 reported higher profit. The peer figures are as of 6 November 2026.
| Cranex revenue growth (YoY) | +13.0% |
|---|---|
| Median of 56 other Industrial Products companies | +30.4% |
| Companies with slower revenue growth than Cranex | 18 of 56 |
| Companies with faster revenue growth than Cranex | 38 of 56 |
| Companies whose net profit rose | 38 of 51 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Cranex's revenue in Q2 FY27?
Revenue from operations was ₹15.11 crore, up 13.0% from ₹13.37 crore in Q2 FY26 (consolidated).
Did Cranex make a profit in Q2 FY27?
Yes. Net profit was ₹0.90 crore, against a net profit of ₹0.66 crore in Q2 FY26.
What was Cranex's EPS in Q2 FY27?
Basic earnings per share were ₹1.14, against ₹1.01 in Q2 FY26.
When did Cranex announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consider And Approve Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Second Quarter & Half Year Ended 30Th September, 2026 (BSE, 29 October 2026) · PDF
- Submission Of Un-Audited Financial Results Of The Company For The Quarter Ended On 30Th September, 2026 Pursuant To Regulation 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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