Crown Lifters Limited — Important, 14-11-2024: Capacity addition

Crown Lifters Limited has placed an order for two brand-new 260 MT crawler cranes, with the first unit expected to be delivered by mid-November 2024 and the second by mid-January 2025. The total purchase value for these cranes is approximately ₹11.575 crore, increasing the company’s crane capital expenditure for the financial year to around ₹54.575 crore. This move aligns with a noted rise in demand for heavy construction equipment across various sectors, including Cement, Steel, Solar, Refinery, Ports, Airports, and Metro/Bullet Train projects, particularly after the monsoon. Investors should watch closely as this investment could enhance Crown Lifters' operational capacity and market position in the growing construction equipment rental segment.