Shares of a micro-cap company, which supplies construction equipment to service industrial sectors, touched 5% upper circuit following the purchase of two new 150 MT crawler cranes, valued at Rs. 7.00 crore.
Share price variations:
With a market capitalization of Rs. 270.48 crores, Crown Lifters Limited touched the 5% upper circuit of Rs. 243.22, from its previous close of Rs. 231.64 per share.
Reason for the Rise:
According to exchange filings, Crown Lifters Limited has placed an order for two 150 MT crawler cranes with a total purchase value of Rs. 7.00 crore from Maharashtra. The delivery of both cranes is anticipated by mid-October. These cranes have been pre-booked by Ultratech Cement Ltd. and ArcelorMittal Nippon Steel India for their operational needs. This purchase brings the company’s total capital expenditure on cranes for the current financial year to Rs. 43 crore.
Recent Updates:
In July, Crown Lifters Limited acquired a 400 MT crawler crane, and in late May, the company purchased two units each of 260 MT and 100 MT crawler cranes.
Financial Performance:
For Q1FY25 the company reported a net profit of Rs. 10.96 crore compared to Rs. 1.17 crore in Q1FY24, while revenue from operations marked an increase of 50.5% to Rs. 7.63 crore from Rs. 5.07 crore in comparison to the same period. The share has given a multi-bagger return of 107% on a year-to-date basis.
About the company:
Incorporated in 2002, Crown Lifters Limited is a professional crane hiring company, operating as one of the preferred suppliers of construction equipment servicing all industrial sectors, and is engaged in trading and renting cranes. The company provides services to sectors such as industries, infrastructure, and energy, as well as buildings and factories.
Written By Joseph Pv
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