Introducing “Cranex Ltd “ a 43 year old BSE listed ultra small cap Crane Manufacturer :

Cmp : 7.30
Current Market Cap : 4 Crs
Current Turnover 21.6 Crs
Fy 15 Eps 0.7
Low Equity Capital of 60 Lac Shares
Promoter holding : 36% ( Promoters have been buying from open market continuously)
No Promoter Pledge
Promoters have lent 9 Crs over 6 years back without interest to the co which is shown as “Unsecured Loans”
Currently it is a non dividend paying company
Website : www,cranexltd.com

Triggers :

Co has recently got an order for 42.64 Crs from Delhi Metro along with IFE Consortium with execution by 15.07.2017

Brief Profile of the Company

Cranex Limited is one of the leading manufacturers of EOT Cranes and Gantry Cranes in the country. They also provide after sales service and reconditioning services .Cranex has its manufacturing facility measuring about 4,200 square meters located at Sahibabad Industrial Area, about 14kms. from New Delhi.

It is to be noted that Cranex had gone under BIFR in 2005 and came out of the BIFR in 2012 .

Promoters

The company was promoted in 1972 by Mr Suresh Chandra Agrawal and Mr Piyush Agrawal. They are both currently actively involved in the company management. At present the Board consists of 4 promoter directors and 4 independent directors.

Customers

Cranex supplies it’s products to several Government and Private sector industries.Clients in Government departments and companies include Bharat Heavy Electricals Ltd (BHEL), Railways, Delhi Metro, Indian Space Research Organisation (ISRO), Orissa Cement Ltd (OCL), National Thermal Power Corporation (NTPC).Cranex also supplies to the private sector and counts Alstom, Bennett Coleman, Jaso India, Durha Construction Pvt Ltd., Maruti Suzuki as it’s largest clients .

Disclosure : Invested under 1% of PF :

Lets use this thread to discuss more on this co and understand this co in more depth . Welcome anyone with more insights to contribute to this thread for the benefit of all .

Every quarter USFDA uploads the DMF filing of all the players till the end of the quarter (I keep a tab on it as it gives an indication about the future ANDA filing for players like Alembic who are backward integrated). The DMF filing upto September 30, 2015 is out and Alembic had filed DMF for one fast growing and limited competition (upto September 30, 2015) molecule during the quarter. The details of this along with one more molecule which was filed in April to June, 2015 quarter is given below:

• APIXABAN (gELIQUIS; innovator - BRISTOL MYERS SQUIBB [Pfizer is the partner in the US market] - Filed on September 30, 2015. Exclusivity Expiry - Dec 28, 2017 and Patent Expiry - Dec 22, 2019. gEliquis (apixaban) helps to prevent platelets in your blood from sticking together and forming a blood clot. Eliquis is used to lower the risk of stroke caused by a blood clot in people with a heart rhythm disorder called atrial fibrillation. Other DMF Holders - MSN LABORATORIES PRIVATE LTD, ZHEJIANG HUAHAI PHARMACEUTICAL CO LTD, DR REDDYS LABORATORIES LTD. Total sales US in 2014 - USD 404 million (424% increase y-o-y); USD 355 million sales (186% increase y-o-y) in H1CY2015 in US markets. Its a fast growing molecule with just four players who have filed DMF till September 30, 2015.
• AZILSARTAN MEDOXOMIL MONOPOTASSIUM (gEDARBI; innovator - ARBOR PHARMS IRELAND [marketed by Takeda in US]). Exclusivity Expiry - Feb 25, 2016& Patent Expiry - Jan 7, 2025. Azilsartan is an angiotensin II receptor antagonist used in the treatment of hypertension. On 25 February 2011, the U.S. Food and Drug Administration approved azilsartan medoxomil for the treatment of high blood pressure in adults. Other DMF Holders - MSN LABORATORIES PRIVATE LTD, HEC PHARM CO LTD, JUBILANT GENERICS LTD, ALP PHARM BEIJING CO LTD. US sales - USD 37 million (source: Bloomberg).

Very good results by Pincon
http://www.bseindia.com/xml-data/corpfiling/AttachLive/C792ABF6_FC5A_414A_9C9F_5D4AA81435D4_155341.pdf

Market responding positively for result with upper circuit. UC may continue for few more days as stock is far below 52w high.

Disc: Invested

VA wow price is for 35 million units. where as Cupid price is for 1 million units only. Obviously price will come down with increase in quantity. Check retail price, VA wow price is more than Cupids price

Hi Hitesh,

Thanks for bringing this to our attention. I have downloaded financial reports and will be going through them over next few days in detail and will ask for clarity/questions as required.

Though valuation exercise should be considered in the end, however just a quick glance on moneycontrol website shows below figures for consolidated:

EPS (TTM) 13.24
P/E 10.68 @ CMP 141.3