The requirement for the use of heavy machinery and material-handling equipment directly relates to the growth of infrastructure, power generation facilities, and large engineering projects being undertaken. Cranes and lifting machines are essential in moving heavy equipment and materials in construction sites, power plants, and production facilities.
The share price of Cranex Ltd closed at Rs.74.30 on September 22, 2026, up by 0.36% from the previous closing price of Rs.74.03. The stock opened at Rs.77.30 today and traded between Rs.77.30 and Rs.74.00 today. The company has a market capitalization of Rs.59.59 crore.
New Orders
Cranex Limited has received new orders aggregating approximately Rs. 7.18 crore for the manufacturing and supply of various products. The company disclosed the order wins on September 22, 2026 under the applicable stock exchange disclosure requirements.
The orders have been placed by BHEL Chanjuji DEE VEE Projects Limited and DEE VEE Projects Limited. Both are domestic entities, and the company has confirmed that neither transaction involves any interest from its promoter or promoter group. The orders have also been stated to be outside the scope of related-party transactions.
The combined order value of Rs. 7.18 crore comprises two separate contracts. The first is a Letter of Award worth approximately Rs. 1.33 crore, while the second is a Purchase Order valued at approximately Rs. 5.84 crore.
Hydropower Project Order
Under the first contract, Cranex has received a Letter of Award from BHEL Chanjuji DEE VEE Projects Limited for a Double Girder EOT Crane of up to 100-tonne capacity.
The crane package is intended for the 3X16 MW HPPCL Chanju Stage III Hydroelectric Power Project. The scope involves manufacturing and supplying the crane package, with delivery scheduled by February 14, 2027.
A Double Girder EOT crane is an overhead lifting system generally used for handling heavy equipment and materials inside industrial facilities and power projects. Its high lifting capacity makes it suitable for applications where large and heavy components need to be moved during construction, installation or maintenance.
Material Handling Systems
The larger order, worth approximately Rs. 5.84 crore, has been received from DEE VEE Projects Limited. It covers six material handling systems comprising cranes, hoists and yokes.
The contract also includes the supply of mandatory spares, along with erection and commissioning services. This means the company’s responsibility extends beyond supplying the equipment to helping install and make the systems operational.
The order is scheduled to be executed by May 17, 2027. Together with the hydropower-related order, the contracts provide order visibility for Cranex through the first half of calendar 2027.
Business Impact
The latest orders strengthen Cranex’s presence in industrial and power-sector material handling equipment. The hydropower order provides exposure to a power generation project, while the second contract covers a broader package of lifting and handling equipment.
The combined value of the contracts represents new business for the company, although the filing does not disclose the expected profit margin or revenue recognition schedule for either order. Therefore, the exact impact on earnings cannot be determined from the announcement alone.
Execution will remain an important factor, particularly because the orders involve manufacturing, supply and, in one case, erection and commissioning. Timely delivery will be necessary to meet the agreed project schedules.
What Comes Next
Cranex will be concentrating on the production and delivery of the purchased equipment as per the timeframe mentioned in the contracts. The first order must be completed by February 14, 2027, while the bigger material handling contract should be finalized by May 17, 2027.
If the projects are implemented successfully, it may allow the company to develop relations with customers from the energy and industrial sectors. The nature of future order inflows will not lose its meaning either as they will define the company’s market positioning beyond current contracts.
About the Company
Cranex Limited is an EOT (Electric Overhead Travelling) and gantry crane manufacturing company based in India. Apart from manufacturing, the company also offers after-sales maintenance services and renovation and reconditioning support. The firm has a manufacturing plant in Sahibabad (Uttar Pradesh) and serves its customers from both the private and public sectors. Its customer base includes organisations across power, railways, defence and industrial infrastructure. The company has also supplied heavy-capacity cranes for power projects and other large industrial applications.