Stock Performance and Market Context
On 22 Jan 2026, Cranex Ltd opened sharply lower with a gap down of 8.94%, touching an intraday low of Rs.56, which represents its lowest price point in the past year. This decline followed two consecutive days of gains, signalling a reversal in short-term momentum. The stock closed the day with a 4.05% loss, underperforming the Industrial Manufacturing sector by 5.19%. Notably, Cranex is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, underscoring the prevailing bearish trend.
In contrast, the broader market showed mixed signals. The Sensex opened higher at 82,459.66, gaining 0.67% at the start of the session, though it later moderated to a 0.39% gain at 82,225.87. Despite this, the Sensex remains 4.78% below its 52-week high of 86,159.02 and has experienced a 4.12% decline over the past three weeks. Mid-cap stocks led the market rally, with the BSE Mid Cap index gaining 1.02% on the day, highlighting a divergence between Cranex’s performance and broader market segments.
Long-Term Price and Returns Analysis
Over the last 12 months, Cranex Ltd’s stock price has declined by 55.78%, a stark contrast to the Sensex’s positive return of 7.60% and the BSE500’s 7.10% gain. The stock’s 52-week high was Rs.143, indicating a substantial erosion in market value. This underperformance reflects persistent challenges in the company’s financial and operational metrics, which have weighed on investor sentiment and valuation.
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Financial Metrics and Valuation Concerns
Cranex Ltd’s financial profile continues to reflect areas of concern. The company’s long-term fundamental strength is weak, with an average Return on Capital Employed (ROCE) of 7.21%, which is below industry expectations. Net sales have grown at a modest annual rate of 9.10% over the past five years, indicating limited top-line expansion. Additionally, the company’s ability to service debt is constrained, with a high Debt to EBITDA ratio of 8.44 times, signalling elevated leverage and potential financial strain.
Recent quarterly results for September 2025 showed flat performance, with operating cash flow at a low of Rs. -1.78 crore, highlighting cash generation challenges. The debtor turnover ratio for the half-year stood at 1.59 times, one of the lowest in recent periods, suggesting slower collections and potential working capital inefficiencies.
Valuation and Peer Comparison
Despite the challenges, Cranex Ltd’s valuation metrics present a contrasting picture. The company’s ROCE of 8.8 and an Enterprise Value to Capital Employed ratio of 1.4 indicate a very attractive valuation relative to its capital base. The stock is trading at a discount compared to its peers’ average historical valuations, which may reflect market caution given its recent performance. Over the past year, while the stock price declined by 55.78%, the company’s profits have increased by 3.7%, suggesting some resilience in earnings despite the share price weakness.
Shareholding Pattern and Market Grade
The majority of Cranex Ltd’s shares are held by non-institutional investors, which may influence liquidity and trading dynamics. The company’s Mojo Score stands at 26.0, with a Mojo Grade of Strong Sell as of 15 Dec 2025, an upgrade from the previous Sell rating. The Market Cap Grade is 4, reflecting its micro-cap status within the Industrial Manufacturing sector.
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Summary of Key Indicators
Cranex Ltd’s stock performance and financial indicators paint a picture of a company facing multiple headwinds. The stock’s fall to Rs.56, its 52-week low, is accompanied by underperformance relative to sector and market benchmarks. Weak long-term returns on capital, modest sales growth, and high leverage contribute to the cautious market stance. However, valuation metrics suggest the stock is trading at a discount compared to peers, with some profit growth recorded over the past year.
Market conditions remain mixed, with the Sensex showing resilience despite recent declines, and mid-cap stocks leading gains. Cranex Ltd’s continued trading below all major moving averages highlights the prevailing downward momentum in its share price.
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