Sanghvi Movers Ltd
NSE:SANGHVIMOV
Sanghvi Movers Ltd
Sanghvi Movers Ltd. engages in the provision of crane hiring services and power generation. The company is headquartered in Pune, Maharashtra and currently employs 249 full-time employees. The firm is also engaged in power generation. The firm provides hydraulic and crawler cranes to various industries in the infrastructure sector and has a fleet of approximately 377 medium to large size hydraulic trucks mounted telescopic and lattice boom cranes, and crawler cranes with lifting capacity ranging from 20 tons to 800 tons. Its cranes are primarily used for erection of power plants, cement plants, steel plants, refineries and petrochemicals, fertilizers plants, metro projects and windmill erections. Its crane fleet is procured from Europe, the United States and Japan. The firm has over 64 imported hydraulic multi-axle modular trailers and approximately 90 high bed trailers.
Sanghvi Movers Ltd. engages in the provision of crane hiring services and power generation. The company is headquartered in Pune, Maharashtra and currently employs 249 full-time employees. The firm is also engaged in power generation. The firm provides hydraulic and crawler cranes to various industries in the infrastructure sector and has a fleet of approximately 377 medium to large size hydraulic trucks mounted telescopic and lattice boom cranes, and crawler cranes with lifting capacity ranging from 20 tons to 800 tons. Its cranes are primarily used for erection of power plants, cement plants, steel plants, refineries and petrochemicals, fertilizers plants, metro projects and windmill erections. Its crane fleet is procured from Europe, the United States and Japan. The firm has over 64 imported hydraulic multi-axle modular trailers and approximately 90 high bed trailers.
Order Book Strength: Sanghvi Movers reported a consolidated order book of INR 1,800 crores, with INR 1,200 crores executable in the current financial year, supporting strong revenue visibility.
Geographic Expansion: The company is expanding internationally, with active operations in Saudi Arabia and new entry into Botswana and plans for Qatar, aiming for diversification and growth.
Margin Dynamics: Margins are currently impacted by deliberate investments in capability building and geographic expansion, but management expects normalization and improvement as utilization rises and new assets scale.
Revenue Guidance: Management reaffirmed a conservative revenue target of INR 1,000-plus crores for FY '26, with about INR 500 crores targeted for Q4, though some slippage into the next year is possible.
Utilization & Demand: Utilization rates have normalized post-monsoon, remaining in the 75%-80% range, with robust demand across infrastructure, renewables, metals, cement, and hydrocarbons.
Saudi Breakeven: The Saudi business is expected to breakeven within 12–14 months, with higher yields compared to India and a target of 5% market share in the region over 3–5 years.
Exceptional Items: Q3 EBIT was impacted by exceptional items totaling INR 8–8.4 crores, primarily related to labor code changes and asset damage, with insurance claims in process.
CapEx Update: FY '26 CapEx is planned at INR 629 crores, with most already delivered; plans for FY '27 CapEx are under Board review and not yet disclosed.
