Synopsis:Cranex Limited has secured a Rs. 10.87 crore order from BHEL PEM for the manufacture and supply of D/G Electric Overhead Travelling (EOT) cranes above 100 tonnes for the Sunni Dam Hydroelectric Project. The order is scheduled for execution by April 12, 2027.
Shares of Cranex Limited are likely to remain in focus after the company announced that it has received a Letter of Award worth Rs. 10.87 crore from BHEL PEM for the Sunni Dam Hydroelectric Project.
Cranex Limited has a total market capitalization of approximately Rs. 70.9 crore. The company’s shares were trading at Rs. 88.50 apiece on the stock exchange, up by 5 percent. The stock has declined 4.74 percent over the last five trading sessions and gained 2.60 percent over the last month. The stock touched a 52-week high of Rs. 114 and a 52-week low of Rs. 56.
According to the company’s exchange filing, BHEL PEM has awarded Cranex a contract valued at approximately Rs. 10,87,02,270 for the manufacture and supply of D/G Electric Overhead Travelling (EOT) Cranes above 100 tonnes for the Sunni Dam Hydroelectric Project. The order is scheduled to be executed by April 12, 2027.
The contract has been awarded by a domestic entity and involves the supply of heavy-duty EOT cranes designed for large-scale hydroelectric infrastructure. The company also clarified that neither its promoters nor promoter group entities have any interest in the awarding entity and that the contract does not constitute a related party transaction.
The latest order strengthens Cranex’s presence in India’s infrastructure and power equipment sector, particularly in specialised heavy-duty crane solutions for hydroelectric and industrial projects. Orders from established public sector engineering companies such as BHEL enhance the company’s execution credentials and improve its order pipeline.
India’s power infrastructure sector continues to witness significant investments in hydroelectric generation, transmission infrastructure and industrial projects. As large engineering and EPC companies execute these projects, demand for heavy-capacity material handling equipment such as EOT and gantry cranes is expected to remain strong, creating long-term opportunities for specialised crane manufacturers.
For investors, the BHEL order highlights Cranex’s capability to secure contracts for critical infrastructure projects requiring specialised lifting equipment. Continued order inflows from government and industrial customers could support revenue growth and strengthen the company’s position in the domestic crane manufacturing market.
Incorporated in 1973, Cranex Limited is engaged in the manufacturing and sale of cranes, material handling equipment and related components. The company manufactures electric overhead travelling (EOT) cranes, gantry cranes, elevators, escalators and specialised lifting solutions for demanding applications across sectors such as power, defence, railways, metro, space and atomic energy.
Its manufacturing facility is located in Sahibabad, Uttar Pradesh, and the company has supplied cranes for marquee projects including Vande Bharat train sets, thermal and hydroelectric power projects, while serving customers such as BHEL, L&T, Voith Hydro, Indian Railways and metro rail corporations.
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