by Trade Brains | Dec 4, 2023 | 4:05 pm | News, Trending News | 0 comments
Shares of one of the leading manufacturers of EOT Cranes gained up to 3.5 percent after the company received a crisil rating for long-term and short-term bank loan facilities. Hitachi Hoist
With a market capitalization of Rs 33.48 Crores. Cranex Ltd, On Monday, The shares closed at Rs 56.01 a share, a decrease of 3 percent from the previous closing price.
According to the exchange filing, Cranex Ltd received a crisil rating of CRISIL BB for long-term bank loan facilities and CRISIL A4+ for short-term bank loan facilities.
A variety of well-known government players, including Bharat Heavy Electricals Ltd (BHEL), Indian Railways, Delhi Metro Rail Corporation, Mumbai Metro Rail Corporation, and Indian Space Research Organization (ISRO), are among Cranex Ltd’s established clients. The company also boasts a diverse end-user industry base.
The net cash accrual to total debt (NCATD) ratio for fiscal 2023 is 0.06 times, while interest coverage is 2.35 times, indicating average debt protection measures.
This year, the company’s turnover growth has been softer, increasing by just 3.5%. In addition to increasing manufacturing capacity, Cranex Ltd. is now concentrating more on high-capacity EOT cranes, which have a larger profit margin.
Revenue for Cranex Ltd is Rs 40.40 crore from domestic sources and Rs 0.96 crore from foreign sources.
Looking into the company’s performance, Cranex Ltd’s revenue increased by 99.5 percent from Rs 7.44 Crore in Q2FY23 to Rs 14.85 Crore in Q2FY24. During the same period, net profit increased by 290 percent from Rs 0.10 crore to Rs 0.39 Crore.
Cranex Limited is a prominent producer of Gantry Cranes and EOT Cranes in the nation. The business offers reconditioning and after-sale support in this industry as well.
Written By:- Abhishek Singh
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