Crown Lifters Limited (CROWN)
₹110.99 -1.27% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Crown Lifters' revenue was ₹13.0 Cr (+29.3% year on year, +12.0% on the previous quarter), and net profit ₹2.9 Cr (+4.7% year on year); the operating margin was 55.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹13.0 | +29.3% | +12.0% |
| Operating profit | ₹7.3 | +20.4% | +15.2% |
| Net profit | ₹2.9 | +4.7% | +32.4% |
| EPS (₹) | 2.54 | +2.0% | +32.3% |
| Operating margin | 55.9% | — | — |
CROWN delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 78.57% of the CROWN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 71.98%. That is close to its usual level. Turnover was only ₹8 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal. 1 bulk or block deal was reported in CROWN in the last 60 days: ₹0.75 Cr sold, none bought.
Delivery in the last 5 sessions: 70.5% · 79.7% · 86.2% · 67.3% · 78.6%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 21 Sep | Sell | Alpa Wealth Creator | ₹0.75 Cr | ₹119.10 | 63,000 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Crown Lifters submitted voting results from its 24th Annual General Meeting held on September 24, 2026. Shareholders approved the adoption of FY26 financial statements, the reappointment of Mr. Nizar Nooruddin Rajwani, and the appointment of Mrs. Natasha Rajwani as Non-Executive Director. However, Item No. 4, a Special Resolution seeking to increase the overall limit of maximum remuneration payable to directors, was rejected, receiving only 19.82% votes in favor and 80.18% against after promoter votes (7,860,000 shares) were treated as invalid/excluded.
- Special Resolution to increase director remuneration limit defeated with 80.18% votes cast against (2,40,029 against vs 59,352 in favor)
- Adoption of FY25-26 audited accounts passed with 100% valid votes in favor (81,50,378 votes)
- Re-appointment of Mr. Nizar Nooruddin Rajwani approved with 99.99% valid votes in favor
- Appointment of Mrs. Natasha Rajwani as Non-Executive Non-Independent Director passed with 97.55% majority
Crown Lifters submitted voting results from its 24th Annual General Meeting held on September 24, 2026. Shareholders approved the adoption of FY26 financial statements, the reappointment of Mr. Nizar Nooruddin Rajwani, and the appointment of Mrs. Natasha Rajwani as Non-Executive Director. However, Item No. 4, a Special Resolution seeking to increase the overall limit of maximum remuneration payable to directors, was rejected, receiving only 19.82% votes in favor and 80.18% against after promoter votes (7,860,000 shares) were treated as invalid/excluded.
- Special Resolution to increase director remuneration limit defeated with 80.18% votes cast against (2,40,029 against vs 59,352 in favor)
- Adoption of FY25-26 audited accounts passed with 100% valid votes in favor (81,50,378 votes)
- Re-appointment of Mr. Nizar Nooruddin Rajwani approved with 99.99% valid votes in favor
- Appointment of Mrs. Natasha Rajwani as Non-Executive Non-Independent Director passed with 97.55% majority
Crown Lifters Limited has issued an intimation to shareholders regarding the 24th Annual General Meeting (AGM) for FY 2025-26, scheduled for September 24, 2026, via video conferencing. The cut-off date to determine e-voting eligibility has been set for September 17, 2026. The remote e-voting window will open on September 21, 2026, at 09:00 AM IST and close on September 23, 2026, at 05:00 PM IST. The notice also provides access links to the Integrated Annual Report for shareholders without registered email addresses.
- 24th AGM scheduled for Thursday, September 24, 2026, at 04:00 PM IST via VC/OAVM
- Cut-off date for e-voting eligibility set to Thursday, September 17, 2026
- Remote e-voting period runs from September 21, 2026 (09:00 AM IST) to September 23, 2026 (05:00 PM IST)
- Filing sent pursuant to Regulation 36(1)(b) of SEBI LODR for shareholders without registered emails
Crown Lifters Limited has announced procedural timelines for its upcoming 24th Annual General Meeting (AGM) to be conducted via VC/OAVM. The record/cut-off date to determine shareholder eligibility for remote e-voting is set as Thursday, September 17, 2026. The share transfer books and register of members will remain closed from September 18, 2026, to September 24, 2026. Remote e-voting will run from September 21, 2026 (9:00 AM IST) to September 23, 2026 (5:00 PM IST).
- Cut-off/Record date for AGM e-voting fixed for September 17, 2026
- Share transfer books closed from September 18, 2026, to September 24, 2026
- Remote e-voting window open from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- AGM to be held via Video Conferencing / Other Audio Visual Means (VC/OAVM)
Crown Lifters Limited has scheduled its 24th Annual General Meeting (AGM) for Thursday, September 24, 2026, to be conducted via Video Conferencing. Key ordinary and special resolutions include the adoption of audited financial statements for FY 2025-26, the re-appointment of Director Nizar Nooruddin Rajwani, and the appointment of Natasha Rajwani as a Non-Executive Non-Independent Director. The company also proposes a special resolution to increase the overall remuneration limits for directors.
- 24th Annual General Meeting scheduled for Thursday, September 24, 2026, at 04:00 P.M. IST
- Appointment of Mrs. Natasha Rajwani as Non-Executive Non-Independent Director (effective July 07, 2026) placed for shareholder approval
- Proposal to increase the overall limit of maximum remuneration payable to directors
- Net profit ratio reported at 20.87% and EBIT to capital employed at 11.27% in financial ratio disclosures
Crown Lifters Limited announced the outcome of its Board meeting held on August 24, 2026. The Board approved the draft Board's Report and Annual Report for the financial year ended March 31, 2026. The 24th Annual General Meeting (AGM) will be conducted virtually on September 24, 2026. Additionally, the cut-off date for remote e-voting is set for September 17, 2026, with the voting window open from September 21 to September 23, 2026.
- 24th Annual General Meeting scheduled for September 24, 2026, at 4:00 PM IST via video conferencing
- Remote e-voting window active from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- Cut-off date for voting eligibility set as September 17, 2026
- Appointed Ronak Doshi & Associates (COP No. 12725) as the scrutinizer for the e-voting process
Crown Lifters has issued a business update for Q1 FY 2026-27, highlighting healthy equipment utilization and a strategic focus on domestic infrastructure sectors like Renewable Energy and Metro Rail. The CMD explicitly stated an aspiration to cross the ₹50 crore revenue milestone for the full financial year. This target is significant compared to historical quarterly revenues (e.g., ₹5.06 Cr in Jun 2023). The company is currently rationalizing its fleet storage locations and prioritizing high-margin project selection to mitigate rising fuel and transportation costs.
- Aspiration to cross the ₹50 crore revenue milestone for the full financial year 2026-27
- Maintaining a long-term growth target of 25-35% through aggressive fleet expansion
- Annual capex plan of approximately ₹50 Cr to be funded by internal flows and warrant proceeds
- Focusing on high-growth sectors including Renewable Energy, Oil & Gas, and Metro Rail
- Strategic decision to prioritize domestic market leadership over immediate international expansion
Crown Lifters reported a strong 29.3% YoY revenue growth for Q1 FY27, reaching ₹13.02 Cr. Net profit grew 4.5% YoY to ₹2.94 Cr, though it showed a much sharper sequential recovery of 32.5% compared to Q4 FY26. A notable balance sheet event occurred as the company forfeited ₹3.42 Cr from 5,10,000 unexercised warrants, which has been transferred to Other Equity. The company maintains its target growth rate of 25-35% driven by infrastructure sector demand.
- Revenue from operations increased to ₹1,301.68 Lakhs in Q1 FY27 from ₹1,006.92 Lakhs in Q1 FY26.
- Net Profit for the quarter stood at ₹293.54 Lakhs, up from ₹221.54 Lakhs in the preceding quarter.
- Forfeited ₹341.70 Lakhs in upfront subscription money after holders of 5,10,000 warrants failed to exercise conversion by May 11, 2026.
- Operating expenses rose significantly to ₹413.81 Lakhs compared to ₹270.09 Lakhs in the year-ago period.
- Earnings Per Share (EPS) for the quarter improved to ₹2.53 from ₹1.93 in Q4 FY26.
Mrs. Payal Pravin Madh ani has resigned as a n Independent Director of Crow n Lifters Limited, effective Jul y 14, 2026. She also ceased to be the Chair per son of the Audit Committee and a member of the Nomination and Remuneration Committee effective Jul y 7, 2026. The resignation is attrib uted to per sonal and profes sional commitments, with no other material reasons provided. The company will need to appoin t a new Audit Committee Chair to maintain regulatory compliance.
- Resignation of Mrs. Payal Pravin Madh ani effective from close of busines s hour s on Jul y 14, 2026
- Cease d to be Chair per son of the Audit Committee effective Jul y 7, 2026
- Cease d to be a member of the Nomination and Remuneration Committee effective Jul y 7, 2026
- The resig ning director confir med no other material reasons for exit beyond per sonal/profes sional commitments
Crown Lifters Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, Bigshare Services Pvt. Ltd., confirmed that no requests for dematerialization or rematerialization were received during the quarter ended June 30, 2026. This confirms that the entire shareholding of the company remains in electronic form, which is a standard regulatory requirement for listed entities.
- Quarter ended June 30, 2026, compliance certificate submitted to the exchange
- 0 requests received for dematerialization or rematerialization during the quarter
- 100% of the company's shares are confirmed to be in demat form
- Certificate issued by Bigshare Services Pvt. Ltd. on July 13, 2026
Crown Lifters Limited has announced a reconstitution of its key board committees effective July 7, 2026. Mr. Amit Bhalchandra Nandedkar, an Independent Director, has been designated as the Chairperson of the Audit Committee. Additionally, Mr. Sanjay Dhayal has joined the Audit Committee, and Mrs. Natasha Nizar Rajwani has been appointed to the Nomination and Remuneration Committee. These changes are procedural and aimed at maintaining compliance with SEBI Listing Regulations 18 and 19.
- Reconstitution of Audit and Nomination & Remuneration Committees effective July 7, 2026
- Appointment of Mr. Amit Bhalchandra Nandedkar as Chairperson of the Audit Committee
- Addition of Mr. Sanjay Dhayal as a member of the Audit Committee
- Appointment of Mrs. Natasha Nizar Rajwani to the Nomination and Remuneration Committee
Crown Lifters Limited has appointed Mrs. Natasha Nizar Rajwani as an Additional Non-Executive Non-Independent Director, effective July 07, 2026. Mrs. Rajwani is the spouse of Mr. Nizar Rajwani, a Director and Key Managerial Personnel (KMP) of the company. She holds an MBA in Finance and Marketing (2008) and has experience in financial management and budgeting. The appointment is subject to shareholder approval and aligns with the company's governance structure as it pursues a 25-35% growth target.
- Appointment of Mrs. Natasha Nizar Rajwani effective from July 07, 2026
- Mrs. Rajwani completed her MBA in Finance and Marketing in 2008
- She is the spouse of Mr. Nizar Rajwani, a Director and KMP of the company
- The Board meeting for the appointment concluded within 1 hour (11:30 AM to 12:30 PM)
- Company is currently targeting a growth rate of 25-35% with annual capex of approximately Rs 50 Cr
Crown Lifters Limited has appointed Mrs. Natasha Nizar Rajwani as an Additional Non-Executive Non-Independent Director, effective July 07, 2026. Mrs. Rajwani is the spouse of Mr. Nizar Rajwani, a Director and Key Managerial Personnel of the company, indicating a continuation of promoter-family involvement in board oversight. She holds an MBA in Finance and Marketing (2008) and brings experience in financial management and budgeting. The appointment is subject to shareholder approval and the director will be liable to retire by rotation.
- Appointment of Mrs. Natasha Nizar Rajwani effective from July 07, 2026
- Mrs. Rajwani completed her MBA in Finance and Marketing in 2008
- Disclosure confirms she is the spouse of Mr. Nizar Rajwani, a Director and KMP
- Board meeting for the appointment lasted 60 minutes (11:30 A.M. to 12:30 P.M.)
Crown Lifters Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the declaration of the unaudited financial results for the first quarter ending June 30, 2026. The window will remain closed for all directors, KMPs, and designated persons until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced later.
- Trading window closes effective Wednesday, July 1, 2026.
- Closure pertains to the unaudited financial results for the quarter ending June 30, 2026.
- Restriction applies to Directors, KMPs, Designated Persons, and their immediate relatives.
- Window will reopen 48 hours after the financial results are declared to the exchanges.
Karim Kamruddin Jaria, representing the promoter group of Crown Lifters Limited, has filed a declaration under SEBI (SAST) Regulations for the financial year ended March 31, 2026. The promoters collectively hold 78,60,000 equity shares and have confirmed that no encumbrances or pledges were created on these shares during the fiscal year. The promoter group consists of Karim Kamruddin Jaria (45.21%) and Nizar Nooruddin Rajwani (22.61%), totaling a significant 67.82% stake in the company.
- Promoter group holds a total of 78,60,000 equity shares as of March 31, 2026.
- Confirmed zero direct or indirect encumbrances created during the financial year 2025-26.
- Karim Kamruddin Jaria holds 52,40,000 shares representing 45.21% of the company.
- Nizar Nooruddin Rajwani holds 26,20,000 shares representing 22.61% of the company.
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable segment: renting of construction equipment. Revenue from operations grew 24.67% YoY, increasing from INR 28.10 Cr in FY 2023-24 to INR 35.03 Cr in FY 2024-25.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Mumbai and services industrial sectors across India.
Profitability Margins
Net Profit Margin significantly improved from 19.60% in FY 2024 to 54.18% in FY 2025. This was primarily driven by a change in accounting policy for depreciation, resulting in an exceptional profit of INR 12.67 Cr.
EBITDA Margin
Core operating profitability (EBITDA) is approximately 60.7% based on FY 2024-25 total income of INR 36.96 Cr against operating expenses of INR 14.52 Cr (excluding depreciation, finance costs, and tax).
Capital Expenditure
The company has a planned annual capex benchmark of INR 50 Cr to sustain top-line growth. For the half-year ended September 30, 2025, the company invested INR 8.55 Cr in tangible assets.
Credit Rating & Borrowing
Finance costs increased 104.6% from INR 1.63 Cr in FY 2024 to INR 3.33 Cr in FY 2025, reflecting higher utilization of debt for fleet expansion. Borrowing costs for Q2 FY 2025-26 stood at INR 0.94 Cr.
Operational Drivers
Raw Materials
As a service-based rental company, specific raw materials are not applicable; however, the company is sensitive to the price of construction equipment (cranes) and spare parts, which impact the cost of goods sold.
Capacity Expansion
The company is aggressively expanding its fleet to sustain growth targets of 25-35%. It recently raised funds through share warrants issued at INR 268 per share in November 2024 to fund this expansion.
Raw Material Costs
Operating expenses (including maintenance and site costs) were INR 9.42 Cr in FY 2024-25, representing 26.9% of revenue.
Manufacturing Efficiency
The company targets a sustainable growth rate of 25-35% by maintaining high utilization of its crane fleet across infrastructure projects.
Logistics & Distribution
Not specifically disclosed as a percentage of revenue, but the company manages the mobilization of heavy cranes to various project sites.
Strategic Growth
Expected Growth Rate
25-35%
Growth Strategy
Growth will be achieved through substantial annual capex of approximately INR 50 Cr, funded by internal cash flows and the remaining 75% of funds from share warrants issued at INR 268. The strategy focuses on the buoyant infrastructure sector and government thrust on development.
Products & Services
Renting of cranes and construction equipment for industrial and infrastructure sectors.
Brand Portfolio
Crown Lifters
Market Expansion
The company is targeting sustained growth by increasing the number of clients to reduce dependency on any single customer.
Market Share & Ranking
The company describes itself as one of the largest and most preferred suppliers of construction equipment in its segment.
External Factors
Industry Trends
The industry is currently growing due to government infrastructure thrust; however, it faces stiff competition from new foreign and domestic entrants.
Competitive Landscape
Faces stiff competition from both domestic and international companies entering the Indian construction equipment rental market.
Competitive Moat
The moat is built on a large fleet size, technological edge, and long-standing industry presence since 1984, which are sustainable but subject to high capital requirements.
Macro Economic Sensitivity
Highly sensitive to infrastructure spending and government policy; buoyant industry outlook is tied to the general economy and government thrust on infrastructure.
Consumer Behavior
Demand is driven by B2B infrastructure project cycles rather than individual consumer trends.
Geopolitical Risks
Current global war situations are identified as a primary risk that could drastically affect business operations and supply chains.
Regulatory & Governance
Industry Regulations
Operations are subject to infrastructure sector regulations and safety standards for heavy equipment handling.
Environmental Compliance
Environmental issues and strict laws are cited as potential hindrances to strong growth.
Taxation Policy Impact
Current tax provision for FY 2024-25 was INR 1.27 Cr. The company also made deferred tax provisions following its change in depreciation accounting policy.
Legal Contingencies
The secretarial audit for FY 2024-25 reported compliance with the Companies Act and SEBI regulations; no specific high-value pending court cases were quantified in the documents.
Risk Analysis
Key Uncertainties
Raw material price volatility and restricted bank lending to the infrastructure sector could lead to decreased project funding and margin pressure.
Geographic Concentration Risk
Operations are concentrated in India, with the registered office in Mumbai.
Third Party Dependencies
Dependency on banks for project financing is high; restricted lending or increased non-performing assets in the banking sector could decrease available funding.
Technology Obsolescence Risk
The company mitigates technology risk by offering a 'competitive technological edge' in its equipment fleet.
Credit & Counterparty Risk
Trade receivables stood at INR 12.38 Cr as of September 30, 2025, compared to INR 10.58 Cr in March 2025, indicating a marginally slower collection cycle.
