Cranes Software: negative net worth, auditor flags going concern
Standalone loss widens to ₹2,005.57 lakhs; Bank of India declares promoters wilful defaulters. Company secretary Apeksha Nagori resigns.
— 1 earlier story on Cranes Software International Ltd. →What's new
- Standalone net loss widens to ₹2,005.57 lakhs from ₹1,993.34 lakhs a year ago.
- Auditor issues qualified opinion citing negative net worth of ₹79,792 lakhs and going concern uncertainty.
- Bank of India declares company and promoters wilful defaulters; interest on unpaid FCCB and loans not accounted.
Why this matters
The auditor's going concern warning means the company may not be able to continue operations. The wilful defaulter tag by Bank of India adds severe governance concerns.
What we're watching
- Any restructuring or debt resolution plan from management.
- Potential regulatory action from SEBI or RBI due to wilful defaulter status.
- Further promoter or management resignations.
The full read
Cranes Software International has reported a standalone net loss of ₹2,005.57 lakhs for FY26, inching higher from the ₹1,993.34 lakhs loss a year ago. The real story is in the auditor's qualified opinion: negative net worth of ₹79,792 lakhs – a sum that far exceeds the company's ₹71 crore market cap. Chaturvedi Sohan & Co. has cast significant doubt on the company's ability to continue as a going concern. On top of that, Bank of India has declared Cranes Software and its promoters wilful defaulters. The results also show that interest on unpaid FCCB and bank loans has not been provided for, meaning the actual liabilities are even larger. Separately, company secretary Apeksha Nagori resigned. On a consolidated basis, revenue fell to ₹686.46 lakhs from ₹820.63 lakhs, and the loss after exceptional items stood at ₹1,435.66 lakhs. The numbers were largely expected from prior disclosures, but the formal audit qualification now makes the distress official.
Questions answered
- What did the auditor say about Cranes Software's financial health?
- The auditor, Chaturvedi Sohan & Co, issued a qualified opinion flagging negative net worth of ₹79,792 lakhs and casting significant doubt on the company's ability to continue as a going concern.
- Why was Bank of India's wilful defaulter declaration mentioned in the results?
- Bank of India has declared Cranes Software and its promoters as wilful defaulters, meaning they have failed to repay loans even when they had the capacity. This is a serious credit event that affects the company's ability to borrow and operate.
- What is the trend in revenue and losses?
- Consolidated revenue from operations fell to ₹686.46 lakhs in FY26 from ₹820.63 lakhs a year earlier. Consolidated loss after exceptional items stood at ₹1,435.66 lakhs.
- Did the company secretary resign?
- Yes, the board accepted the resignation of company secretary Apeksha Nagori, which is noted in the board meeting outcome.
- How does the negative net worth compare to the company's market cap?
- The negative net worth of ₹79,792 lakhs is far larger than the company's market cap of ₹71 crore, indicating extreme balance sheet distress.
Cranes Software International Ltd.
Latest quarter · Mar 2026
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All notes on CRANESSOFT →- 15 Jun 2026 · 8:01 PM IST Cranes Software: negative net worth, auditor flags going concern
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