Cranex Ltd Share Price

History of Cranex Ltd

Cranex Ltd, promoted by Late Mr Suresh Chandra Agrawal, was incorporated on February 27, 1973 as a Private Limited Company and converted into a Public Limited Company in 1985 when its shares were heavily over subscribed, raising the equity from 2 million to 14.5 million Indian Rupees and became a quoted company, listed at Bombay and Delhi Stock Exchanges. The Company is one of the leading manufacturers of EOT Cranes and Gantry Cranes in the country. It is engaged in the business of manufacturing & selling cranes & its parts. The company is also providing after sales maintenance services. It supplies products to several Government and Private Sector Industries. They are specialists in manufacturing Cranes for demanding applications such as Space, Atomic Energy, and Flame Proof environm ...ents. Cranex also supplies to the private sector and counts Alstom, Bennett Coleman, Jaso India, Larsen & Toubro, Durha Construction Pvt Ltd., Maruti Suzuki, Tata Projects, HYT Engineering, ISGEC Heavy Engineering as it's largest clients. Cranex has its works located at Sahibabad Industrial Area, admeasuring approx. 10,000 Sq.Mts. about 14kms from the heart of the main business centre, Connaught Place, New Delhi. It manufactures a range of cranes covering EOT, Goliath, HOT, JIB cranes, winches and electrical hoists. These find application in defense, nuclear and space installations, railways, power plants and other high-priority government projects. It has its unit in Ghaziabad, Uttar Pradesh, which has been upgraded to manufacture cranes up to 250 tons with remote control technology and other applications. The company has strategic alliances for technology upgrades and innovation with KUHNEZUG of Hamburg, Germany for cranes and IKUSI, Spain for remote control systems. The company's software services include application of technical methods, conduct of formal technical reviews, software testing, enforcement of standards, control of change, measurement, SQA audits, and record keeping. In international trade, the company exports engineering products like fasteners and nuts, forged and machined components such as wheels to original equipments manufacturers worldwide. It exports a wide range of handicrafts, cotton outer garments, shirts, shorts, silk blazers and other items. These products are marketed in USA, Europe and other countries across the globe. The Company has signed an agreement with University of Washington - Seattle US one of the top ten universities in the US for providing Internet-based education leading to master's degree in computer science. The Company is setting up 250 centers spread across Inida in collaboration with the University of Washington. During the year 1993-1994, the company set up wholly owned subsidiary in the United State of America, namely 'Cranex International Inc'. During the year 1994-1995, the company completed the first phase of modernization & expansion of Sahibabad unit. During the year 1998-2000, the company started development a Software Technology Park at Sahibabad and in the same year, the company set up Call Center business. During the year 2004-2005, the company set up Human- Resources Development division with focus on Health Care, Hospitality Industry and Information Technology. During the year 2005-2006, the company embarked to modernize its manufacturing facility confirming to world standards and to expand its production capacity. The Company in 2019, partnered with a leading manufacturer to Supply, Install and maintain Escalators & Elevators in India. It worked with Delhi Metro Rail Corporation, Indian Railways, Mumbai Metro Rail Corporation and Mumbai Metropolitan Regional Development Authority in this segment.