Cranex Gains Attention After Winning ₹7.18 Crore Orders for Cranes Systems

The steady expansion of infrastructure projects and power generation facilities in India has fueled growing demand for heavy machinery and material-handling equipment, underscoring the strategic importance of players like Cranex Limited. On September 22, 2026, Cranex announced the receipt of two significant orders collectively valued at approximately Rs. 7.18 crore, a development that further cements its presence in the industrial and power sectors.

According to disclosures made to the stock exchange, the new orders come from two domestic entities. The first, BHEL Chanjuji DEE VEE Projects Limited, awarded Cranex a Letter of Award valued at around Rs. 1.33 crore for the supply of a Double Girder EOT (Electric Overhead Travelling) Crane with a capacity of up to 100 tonnes. This crane will be deployed for the 3X16 MW HPPCL Chanju Stage III Hydroelectric Power Project. Under the contract terms, Cranex is responsible for the manufacture and supply of the crane package, with delivery due by February 14, 2027.

The second, larger order, worth approximately Rs. 5.84 crore, was placed by DEE VEE Projects Limited. This contract covers the production and supply of six material handling systems, which include cranes, hoists, and yokes. The scope of the contract extends beyond just supply, requiring Cranex to also provide mandatory spares and extend its services to cover erection and commissioning. The systems are scheduled for delivery and installation by May 17, 2027.

The company clarified that neither order constitutes a related-party transaction and that neither includes the involvement of any promoter or promoter group interest. Both contracts demonstrate Cranex’s role in delivering complex, high-capacity equipment that is vital for large engineering projects and industrial facilities.

Following the announcement of these orders, Cranex’s stock price closed at Rs. 74.30 on September 22, 2026, up 0.36 percent from the previous close. The shares opened the day at Rs. 77.30, touching a low of Rs. 74.00 during intraday trading. The company’s market capitalization stood at Rs. 59.59 crore at the close of trade.

While the newly secured contracts offer future order visibility through the first half of 2027, the company did not disclose expected profit margins or how the orders would be recognized in its financial statements. Performance on these projects will depend on Cranex’s ability to deliver on time and execute the complex scope of work, especially regarding erection and commissioning in the case of the larger contract.

Cranex Limited, based in Sahibabad, Uttar Pradesh, specializes in the manufacture of EOT and gantry cranes, along with providing after-sales maintenance and equipment reconditioning services. Serving both private and public sector clients, its clientele spans the power, railways, defense, and industrial infrastructure segments.

With these orders, Cranex not only consolidates its position in material handling for industrial and energy projects, but also builds a foundation for future engagement and potential business from key sectors. Successful execution could bolster its reputation and open doors to further contracts as India’s infrastructural growth continues.