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Sanghvi Movers 37th AGM: Reports FY26 Revenue of ₹1,070 Cr, Order Book at ~₹1,250 Cr
Sanghvi Movers conducted its 37th Annual General Meeting, where Managing Director Rishi Sanghvi highlighted that FY26 revenue crossed the ₹1,000 crore milestone to reach ₹1,070 crore (up 36.9% YoY). FY26 EBITDA reached ₹429 crore (40.1% margin) and PAT stood at ₹184 crore, supported by a 79% fleet utilization rate. The company deployed ₹474 crore in capex across India and Saudi Arabia, with the Saudi subsidiary achieving monthly EBITDA profitability. Group secured order book stands at approximately ₹1,250 crore (~130% of TTM revenue), offering healthy revenue visibility.
Confidence: HIGH
What changedFormal conclusion of the 37th AGM, adopting annual financial statements and presenting progress on the 'Elevate 2030' strategy.
Why it mattersDemonstrates operational traction in domestic crane rentals and geographic expansion into Saudi Arabia, backed by strong revenue visibility from a ₹1,250 crore order book.
FY26 Revenue: Rs. 1,070 croreFY26 EBITDA: Rs. 429 croreFY26 Capex Deployed: Rs. 474 croreSecured Order Book: approximately Rs. 1,250 croreOrder Book vs TTM Revenue: ~130%Net Debt to Equity: 0.47
📅 Short termNeutral to mildly positive; confirmation of healthy order book and dividend payout provides price stability.
📈 Long termExpansion into Saudi Arabia and asset-light renewable engineering diversification under 'Elevate 2030' support sustainable long-term revenue growth.
⚠ Risk flags
- Cyclicality in infrastructure and wind sector capex
- Execution and client-side infrastructure readiness risks in domestic and Middle East markets
Key Highlights
FY 2025-26 revenue from operations crossed ₹1,000 cr to reach ₹1,070 cr (+36.9% YoY) with EBITDA of ₹429 cr (40.1% margin).
Net profit (PAT) for FY26 stood at ₹184 cr (+17.7% YoY) alongside a recommended final dividend of ₹2.00 per share.
Secured order book reached ~₹1,250 cr, representing ~130% of TTM revenue.
Deployed ₹474 cr in capex across India and Saudi Arabia while maintaining net debt-to-equity at 0.47.
Fleet utilization improved to 79% (up from 73%), and the Saudi Arabian subsidiary turned monthly EBITDA profitable.
👀 What to Watch
Track voting results of the AGM resolutions and monitor the execution pace of the ₹1,250 crore order book alongside capacity utilization in upcoming quarterly results.
Rs 1,250 Cr Order Book and 39% YoY Revenue Growth Highlighted in Q1 FY27 Call
Sanghvi Movers reported a strong 39% YoY revenue growth to Rs 380 Cr in Q1 FY27, driven by robust demand in the crane rental and renewable E&C sectors. While EBITDA margins compressed sequentially to 35% from 40%, management attributed this to one-time employee incentives, higher credit loss provisions of Rs 6.2 Cr, and a deliberate shift toward lower-margin but capital-efficient ancillary services. The company maintains a massive order book of Rs 1,250 Cr, which is approximately 1.47x its TTM revenue, providing high visibility for the remainder of the fiscal year. A significant Rs 652 Cr capex plan is underway, with Rs 92 Cr already deployed in Q1.
Confidence: HIGH
What changedThe company has transitioned from a pure crane rental player to a more diversified service provider, including renewable E&C, while aggressively expanding its high-yield Saudi Arabian operations.
Why it mattersThe massive order book and high-yield international expansion signal a significant scale-up phase, although the shift in revenue mix and higher receivables (DSO at 116 days) require careful monitoring of capital efficiency.
Q1 FY27 Revenue: Rs 380 CrOrder Book vs TTM Revenue: 147%FY27 Capex Plan: Rs 652 CrGCC Yield: 4.10%Group DSO: 116 daysECL Provision (Q1): Rs 6.2 Cr
📅 Short termThe market may focus on the sequential margin dip, but the strong YoY growth and massive order book should provide support to the stock price in the coming weeks.
📈 Long termThe structural shift toward international markets (GCC) and the large-scale capex program could significantly re-rate the company's earnings profile over the next 2-3 years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Margin dilution from ancillary equipment and cross-rentals
- High receivables aging (DSO at 116 days)
- Execution risks in the Saudi Arabian market
Key Highlights
Revenue from operations grew 39% YoY to Rs 380 Cr, with PAT rising 30% to Rs 65 Cr.
Secured order book of Rs 1,250 Cr is fully executable within FY27, representing ~147% of TTM revenue.
Planned FY27 Capex of Rs 652 Cr, with Rs 560 Cr remaining for deployment in the second half of the year.
GCC business (Saudi Arabia) reported high yields of 4.10% compared to 2.29% in India, with 86% utilization.
Inquiry pipeline remains robust at Rs 5,600 Cr across refining, steel, and renewable sectors.
👀 What to Watch
Monitor the normalization of EBITDA margins toward the guided 49-51% core range as credit provisions rationalize and track the execution of the remaining Rs 560 Cr capex in H2 FY27.
₹2 Dividend: Sanghvi Movers Sets August 14 as Record Date for FY26 Final Dividend
Sanghvi Movers has fixed August 14, 2026, as the record date for a final dividend of ₹2 per share for FY26. The 37th Annual General Meeting (AGM) is scheduled for August 24, 2026, to approve this dividend and other key resolutions. Notably, the company is seeking shareholder ratification for MD Rishi C. Sanghvi's FY26 remuneration of ₹6.46 crore, which exceeded regulatory thresholds due to performance-linked incentives. Additionally, an amendment to the Articles of Association is proposed to facilitate a future share subdivision.
Confidence: HIGH
What changedThe company has formalized the timeline for its FY26 dividend payout and disclosed the specific details of executive compensation requiring shareholder approval.
Why it mattersWhile the dividend yield is modest (~0.46%), the AGM resolutions regarding share subdivision and auditor appointments are important for corporate governance and future stock liquidity.
Final Dividend: ₹2 per shareDividend Yield: 0.46%MD Remuneration (FY26): ₹6.458 crMD Remuneration vs TTM PAT: 5.92%Record Date: 14-Aug-2026
📅 Short termThe stock may see minor activity around the record date as it goes ex-dividend; however, the small dividend size suggests limited price impact.
📈 Long termThe proposed amendment for share subdivision indicates management's intent to improve stock liquidity, which is structurally positive for retail participation.
⚠ Risk flags
- Executive remuneration exceeding regulatory limits (requires shareholder ratification)
Key Highlights
Final dividend of ₹2 per equity share recommended for the financial year ended March 31, 2026.
Record date for dividend entitlement is fixed as August 14, 2026.
Total remuneration paid to MD Rishi C. Sanghvi for FY26 was ₹6.458 crore, including a ₹3.29 crore commission.
Proposed appointment of MSKA & Associates LLP as Statutory Auditors for a second 5-year term.
Amendment to Articles of Association proposed to align with a planned subdivision of equity shares.
👀 What to Watch
Investors should note the August 14 record date for dividend eligibility and monitor the AGM outcomes on August 24 regarding the share subdivision and executive pay ratification.
₹2 Dividend and Stock Split Preparation at 37th AGM Scheduled for Aug 24
Sanghvi Movers has scheduled its 37th Annual General Meeting (AGM) for August 24, 2026, to approve a final dividend of ₹2 per share. The company has fixed August 14, 2026, as the record date for this dividend. A significant special resolution includes amending the Articles of Association to facilitate a proposed subdivision (stock split) of equity shares. Additionally, shareholders will vote on the ratification of ₹6.46 Cr remuneration paid to MD Rishi C. Sanghvi, which exceeded SEBI's prescribed limits for promoter-directors in FY26.
Confidence: HIGH
What changedThe company has formalized the timeline for its AGM and dividend payout while initiating the legal process to allow for a future stock split.
Why it mattersThe amendment for a stock split suggests management intent to improve stock liquidity. The ratification of MD remuneration is a critical governance step as the payout exceeded standard SEBI regulatory thresholds.
Final Dividend: ₹2 per shareRecord Date: August 14, 2026MD Remuneration (FY26): ₹6,45,86,595MD Remuneration vs TTM PAT: ~5.92%Auditor Appointment Term: 5 years
📅 Short termThe stock may see minor price adjustments around the August 14 record date for the dividend. Sentiment may be supported by the formal move toward a stock split.
📈 Long termLimited structural impact from this procedural filing; long-term value remains tied to the execution of the ₹629 Cr capex and Saudi Arabian expansion mentioned in the company's growth strategy.
⚠ Risk flags
- Remuneration exceeding SEBI limits requires shareholder ratification
- High client concentration in the wind sector (52% of revenue)
Key Highlights
Final dividend of ₹2 per equity share recommended for the financial year ended March 31, 2026.
Record date for dividend entitlement set for August 14, 2026.
Special resolution proposed to amend Articles of Association to enable future share subdivision (stock split).
Ratification sought for ₹6.46 Cr total remuneration paid to MD Rishi C. Sanghvi, comprising ₹3.17 Cr fixed salary and ₹3.29 Cr commission.
Proposed reappointment of M/s MSKA & Associates LLP as Statutory Auditors for a second 5-year term.
👀 What to Watch
Investors should track the AGM voting results on August 24, specifically the approval of the Articles of Association amendment which is a precursor to a stock split. The dividend yield at the current price of ₹430.6 is approximately 0.46%.
40% Revenue Growth in Q1 FY27; Order Book Reaches Rs 1,253 Cr
Sanghvi Movers reported a strong Q1 FY27 with total income rising 40% YoY to Rs 393 Cr and PAT increasing 30% to Rs 65 Cr. The company maintains a robust order book of Rs 1,253 Cr, which is approximately 1.47x its TTM revenue, providing high visibility. While EBITDA margins compressed to 35% (from 38% YoY) due to one-time incentives and labor code impacts, the Middle East subsidiary turned EBITDA positive at 23%. The company is executing a significant Rs 652 Cr capex plan for FY27, with Rs 92 Cr already deployed.
Confidence: HIGH
What changedThe company has successfully transitioned its Middle East operations to profitability and significantly scaled its order book and capex plans compared to the previous fiscal year.
Why it mattersThe shift towards international markets and the massive capex (nearly 18% of market cap) indicates a major growth phase, diversifying the business and targeting a top-three global ranking.
Q1 FY27 Total Income: Rs 393 CrOrder Book vs TTM Revenue: 147%FY27 Planned Capex: Rs 652 CrCapex vs Market Cap: 18.4%Q1 FY27 EBITDA Margin: 35%Middle East EBITDA Margin: 23%
📅 Short termPositive sentiment is expected due to robust top-line growth and the turnaround in international operations, though the market may react to the slight margin dip.
📈 Long termStructural growth is supported by the 'Elevate 2030' vision, aggressive Middle East expansion, and a dominant position in the Indian renewables lifting market.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Margin pressure from labor code impacts
- High client concentration in the wind sector (52%)
- Execution risks in new international geographies
Key Highlights
Total income grew 40% YoY to Rs 393 Cr in Q1 FY27, driven by core crane rental and international expansion.
Order book stands at Rs 1,253 Cr, representing roughly 147% of TTM revenue, ensuring strong visibility.
Planned FY27 capex of Rs 652 Cr, with Rs 92 Cr already deployed across India and Saudi Arabia to enhance fleet capacity.
Middle East operations (SMME) turned EBITDA positive at 23% in Q1 FY27, a significant recovery from -23% in FY26.
Consolidated PAT increased 30% YoY to Rs 65 Cr, despite a 300 bps compression in EBITDA margins.
👀 What to Watch
Monitor the execution of the Rs 652 Cr capex plan and the stabilization of EBITDA margins, which were impacted by one-time costs and labor code changes this quarter. Watch for continued order momentum in the MENA region as the international business scales.
39% YoY Revenue Growth in Q1 FY27; Order Book Surges to ₹1,253 Cr
Sanghvi Movers reported a robust Q1 FY27 with consolidated revenue growing 39% YoY to ₹380 Cr. Profit After Tax (PAT) increased 30% YoY to ₹65 Cr, though PAT margins compressed slightly to 17% from 18% in the previous year. A key highlight is the order book, which grew 19% in just 10 weeks to reach ₹1,253 Cr, representing approximately 147% of TTM revenue. The company has also initiated a massive ₹652 Cr capex program for FY27, with ₹92 Cr already deployed to expand its fleet in India and Saudi Arabia.
Confidence: HIGH
What changedThe company has significantly accelerated its order book intake and successfully turned its international (KSA) operations EBITDA positive.
Why it mattersThe current order book of ₹1,253 Cr provides revenue visibility that exceeds the entire FY25 revenue, while the aggressive capex signals a major capacity expansion phase to capture global market share.
Q1 FY27 Revenue: ₹380 CrOrder Book vs TTM Revenue: 147%FY27 Planned Capex: ₹652 CrPAT Growth (YoY): 30%EBITDA Margin: 37%
📅 Short termThe stock is likely to react positively to the strong revenue growth and the rapid expansion of the order book within a short 10-week window.
📈 Long termThe 'Elevate 2030' strategy and the shift toward becoming a global top-three player through heavy capex in the MENA region represent a structural growth shift.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Slight YoY margin compression (18% to 17%)
- High sector concentration with wind energy contributing 52% of revenue
- Execution risks associated with large-scale international expansion
Key Highlights
Revenue from operations increased 39% YoY to ₹380 Cr in Q1 FY27 from ₹273 Cr in Q1 FY26
Order book grew by ₹200 Cr (19%) in 10 weeks to reach ₹1,253 Cr as of July 24, 2026
Deployed ₹92 Cr capex in Q1 FY27 out of a total planned ₹652 Cr for the full financial year
KSA (Saudi Arabia) operations achieved cumulative EBITDA-positive performance
Repatriated $1.1 Mn to India following successful commissioning of cranes in Botswana
👀 What to Watch
Investors should monitor the utilization rates of the new fleet as the ₹652 Cr capex is deployed, and track if the Saudi Arabian operations can maintain profitability as they scale.
Rs 41.18 Cr PAT; Sanghvi Movers Q1 Revenue Grows 27% YoY but Profits Remain Flat
Sanghvi Movers reported a standalone revenue of Rs 202.97 Cr for Q1 FY27, marking a 27.4% increase from Rs 159.35 Cr in the same quarter last year. Despite the revenue jump, standalone net profit remained nearly flat at Rs 41.18 Cr compared to Rs 41.81 Cr YoY, primarily due to a 64.6% surge in operating and other expenses. Sequentially, revenue dipped 1% and net profit fell 33% from the March 2026 quarter. The core Crane Hiring segment continues to dominate, contributing 94.6% of total revenue.
Confidence: HIGH
What changedThe company has started FY27 with strong top-line growth but is facing margin compression as operating costs have scaled faster than rental income.
Why it mattersAs India's leading crane rental firm, the flat profit despite higher revenue suggests either increased mobilization costs or competitive pricing pressures in the wind and infrastructure sectors.
Revenue (Q1 FY27): Rs 202.97 CrNet Profit (Q1 FY27): Rs 41.18 CrYoY Revenue Growth: 27.4%Operating Expenses YoY Change: +64.6%Crane Hiring Revenue Share: 94.6%
📅 Short termThe stock may see neutral to slightly negative pressure in the short term as the market digests the sequential profit decline and flat YoY earnings.
📈 Long termThe long-term outlook depends on the successful scaling of the Saudi Arabian operations and maintaining high capacity utilization (previously 70-80%) across the expanded fleet.
⚠ Risk flags
- Sharp increase in operating expenses
- Sequential decline in profitability
- High dependence on the wind energy sector (52% of revenue)
Key Highlights
Revenue from operations increased 27.4% YoY to Rs 202.97 Cr from Rs 159.35 Cr.
Operating and other expenses rose significantly to Rs 100.28 Cr from Rs 60.93 Cr in the previous year's quarter.
Crane hiring and ancillary services segment revenue stood at Rs 192.06 Cr, up from Rs 151.84 Cr YoY.
Standalone Net Profit for the quarter was Rs 41.18 Cr with a Basic EPS of Rs 4.76.
Other income for the quarter included a small profit of Rs 0.86 Cr from the sale of Property, Plant, and Equipment.
👀 What to Watch
Investors should monitor the operating margin trajectory as expenses are currently outpacing revenue growth, and track the execution of the Rs 1,239 Cr order book mentioned in previous strategy updates.
₹250 Cr Credit Rating Assigned to Sanghvi Movers' Subsidiary Sangreen Future Renewables
CARE Ratings has assigned a 'CARE A-; Stable / CARE A2+' rating to the ₹250 crore bank facilities of Sangreen Future Renewables, a wholly-owned material subsidiary of Sanghvi Movers. This facility amount is significant, representing approximately 29.4% of the parent company's TTM revenue of ₹850 Cr. The assignment of a stable investment-grade rating for the subsidiary indicates a formalization of its credit profile to support the group's growth in the renewable energy sector. This move aligns with the company's broader strategy to execute a ₹629 Cr capex program in FY26.
Confidence: HIGH
What changedCARE Ratings has assigned a new credit rating to Sanghvi Movers' subsidiary, Sangreen Future Renewables, for bank facilities totaling ₹250 Cr.
Why it mattersA formal credit rating for a material subsidiary facilitates easier access to bank funding and potentially lower borrowing costs, supporting the parent company's expansion into renewable energy services and large-scale capex plans.
Facility Amount: ₹250.00 CrFacility vs TTM Revenue: ~29.4%Long Term Rating: CARE A-; StableShort Term Rating: CARE A2+Parent TTM Revenue: ₹850 Cr
📅 Short termThe news is likely to be viewed positively by the market as it confirms the creditworthiness of a key subsidiary, providing financial flexibility for immediate project needs.
📈 Long termStructural positive as it enables the subsidiary to independently leverage its balance sheet for the group's renewable energy and EPC ambitions, supporting the goal of becoming a top-three global player.
⚠ Risk flags
- Potential increase in consolidated debt levels
- Execution risk in the renewable energy EPC segment
Key Highlights
₹250.00 Crores in bank facilities assigned new ratings by CARE Ratings Limited.
Long-term rating established at 'CARE A-' with a 'Stable' outlook.
Short-term rating assigned as 'CARE A2+' for the subsidiary.
Facility size represents ~29.4% of the parent company's TTM revenue of ₹850 Cr.
Rating applies to Sangreen Future Renewables Private Limited, a wholly-owned material subsidiary.
👀 What to Watch
Watch for the subsidiary's debt utilization levels in upcoming quarterly reports to see how it supports the company's wind farm EPC growth and the ₹1,239 Cr order book execution.
Sanghvi Movers FY26 Revenue Jumps 37% to ₹1,070 Cr; Order Book Strong at ₹1,053 Cr
Sanghvi Movers reported a robust FY26 with revenue growing 36.9% to INR 1,070 crores, driven by strong demand in the wind energy and crane rental sectors. The company's EBITDA margin remained healthy at 40.1%, while PAT increased by 17.7% to INR 184 crores. Management highlighted a significant order book of INR 1,053 crores and an inquiry pipeline of nearly INR 4,000 crores, providing high revenue visibility. The expansion into Saudi Arabia (KSA) is gaining momentum, with the subsidiary recently achieving positive monthly EBITDA and targeting positive ITD EBITDA by H1 FY27.
Key Highlights
FY26 Revenue grew 36.9% YoY to INR 1,070 crores; Q4 revenue rose 31.4% to INR 351 crores.
Full-year PAT increased 17.7% to INR 184 crores, with EBITDA margins stable at 40.1%.
Average capacity utilization improved to 79% in FY26 compared to 74% in the previous year.
Order book stands at INR 1,053 crores with a massive inquiry pipeline of INR 4,000 crores.
Planned capex of INR 320 crores for Middle East expansion in the current year to leverage high yields of 4.5%.
👀 What to Watch
Investors should monitor the execution of the KSA expansion and the conversion of the large inquiry pipeline into firm orders. The company remains a strong beneficiary of India's infrastructure and renewable energy growth, particularly in the wind and nuclear sectors.
Sanghvi Movers FY26 Revenue Jumps 36.8% to ₹1,070 Cr; Q4 PAT Surges 138% QoQ
Sanghvi Movers reported a strong performance for FY26, with consolidated revenue crossing the ₹1,000 Cr mark for the first time to reach ₹1,070 Cr. The fourth quarter was particularly robust, with PAT surging 137.9% sequentially to ₹69 Cr and revenue growing 48.7% QoQ. The company achieved a healthy fleet utilization of 79% and a yield of 2.12% during the year. With the FY27 order book already secured and successful international expansion in Botswana and the MENA region, the company shows strong growth visibility.
Key Highlights
Annual revenue grew 36.8% YoY to ₹1,070 Cr, while annual PAT increased 17.2% to ₹184 Cr.
Q4 FY26 PAT stood at ₹69 Cr, representing a massive 137.9% growth over Q3 FY26.
Operational efficiency improved with fleet utilization reaching 79% and yield at 2.12% for FY26.
EBITDA margins remained strong at 40.1% for both Q4 and the full year FY26.
Successfully commissioned Botswana operations and secured the order book for FY27.
👀 What to Watch
Investors should take note of the significant sequential recovery in Q4 and the milestone revenue growth. The secured order book for FY27 and expansion into high-growth regions like Saudi Arabia suggest continued momentum.
Sanghvi Movers FY26 Revenue Hits Record ₹1,100 Cr, Up 36.9% YoY
Sanghvi Movers reported its highest-ever annual revenue of ₹1,100 crore for FY26, marking a significant 36.9% year-on-year growth. EBITDA also grew by 15.6%, driven by improved execution and demand momentum despite global supply chain disruptions. The company is aggressively pursuing its 'ELEVATE 2030' strategy, focusing on international expansion in Saudi Arabia and the GCC region. Its renewable energy subsidiary, Sangreen Future Renewables, maintains a strong 2+ GW order book and a 5 GW enquiry pipeline.
Key Highlights
Achieved record-high annual revenue of ₹1,100 crore, a 36.9% increase over the previous year
EBITDA grew by 15.6% YoY, reflecting operational discipline and demand momentum
Renewable energy segment (Sangreen) holds a 2+ GW order book with a 5 GW enquiry pipeline
Expanding global footprint with a focus on Saudi Arabia (KSA) as a high-margin growth engine
Maintains ICRA A+ (Stable) credit rating with a fleet ranked 5th largest globally
👀 What to Watch
Investors should monitor the execution of the 'ELEVATE 2030' strategy, particularly the high-margin international expansion in the GCC. The strong order book in renewables provides good revenue visibility for the medium term.
Sanghvi Movers FY26 PAT Rises 20% to ₹158.6 Cr; Recommends ₹2 Dividend
Sanghvi Movers reported a strong financial performance for the fiscal year ended March 31, 2026, with annual revenue from operations growing 24.5% to ₹673.5 crore. Net profit for the full year increased by 20.3% to ₹158.6 crore, supported by robust demand in the crane hiring and ancillary services segment. The board has recommended a final dividend of ₹2 per share (200% of face value). Additionally, the company confirmed the re-appointment of MSKA & Associates LLP as statutory auditors for a second five-year term.
Key Highlights
Annual Revenue from operations increased 24.5% YoY to ₹67,350.73 Lakhs.
Standalone PAT for FY26 rose to ₹15,863.65 Lakhs compared to ₹13,181.50 Lakhs in the previous year.
Board recommended a final dividend of ₹2.00 per equity share of ₹1 each.
Crane hiring segment revenue grew significantly to ₹62,882.30 Lakhs for the full year.
MSKA & Associates LLP re-appointed as Statutory Auditors for a second term of five consecutive years.
👀 What to Watch
The company demonstrates strong operational growth and consistent dividend payouts, making it a healthy pick in the infrastructure services space. Investors should hold for long-term value as the company capitalizes on increasing demand in the wind and project EPC sectors.
Sanghvi Movers FY26 PAT Up 20% to ₹158.6 Cr; Recommends ₹2 Final Dividend
Sanghvi Movers reported a strong financial performance for the fiscal year ended March 31, 2026, with standalone revenue growing 24.5% YoY to ₹673.5 crore. Net profit for the full year increased by 20.3% to ₹158.6 crore, driven by robust performance in the crane hiring and ancillary services segment. The Board has recommended a final dividend of ₹2 per equity share (200% of face value). The company also reported a significant jump in Q4 FY26 standalone profit to ₹61.5 crore compared to ₹43.4 crore in the previous year's corresponding quarter.
Key Highlights
Annual Standalone Revenue from Operations grew 24.5% YoY to ₹67,350.73 lakhs.
Standalone Net Profit for FY26 increased to ₹15,863.65 lakhs from ₹13,181.50 lakhs in FY25.
Recommended a final dividend of ₹2.00 per equity share (200%) for the financial year.
Q4 FY26 standalone PAT rose 41.5% YoY to ₹6,147.72 lakhs.
Basic EPS for the full year improved to ₹18.32 from ₹15.22 in the previous fiscal year.
👀 What to Watch
The company demonstrates strong growth momentum and healthy dividend payouts, making it an attractive play in the infrastructure support space. Investors should monitor the rising debt levels, as non-current borrowings increased to ₹398 crore from ₹231 crore YoY.
Sanghvi Movers Q4 PAT Jumps 41.5% YoY to ₹61.5 Cr; Final Dividend of ₹2 Declared
Sanghvi Movers Limited delivered a robust set of numbers for Q4 FY26, with revenue growing 26% YoY to ₹205.1 crore and PAT surging 41.5% to ₹61.5 crore. For the full fiscal year 2026, revenue reached ₹673.5 crore, a 24.5% increase over the previous year. The company's core crane hiring segment continues to drive growth, supported by steady demand in infrastructure and energy projects. A final dividend of ₹2.00 per share has been recommended, marking a 200% payout on the face value.
Key Highlights
Quarterly Revenue from operations rose 26.3% YoY to ₹20,509.60 Lakhs.
Net Profit for Q4 FY26 increased by 41.5% YoY to ₹6,147.72 Lakhs.
Annual PAT for FY26 stood at ₹15,863.65 Lakhs, up from ₹13,181.50 Lakhs in FY25.
Recommended a final dividend of ₹2.00 per share for the financial year.
Total assets grew to ₹2,040.49 crore as of March 31, 2026, compared to ₹1,685.25 crore last year.
👀 What to Watch
The strong earnings growth and healthy dividend yield make this a positive development for long-term investors. Monitor the order book and utilization rates in the crane hiring segment for continued momentum.
Sanghvi Movers Highlights 51% Debt Reduction and 60% Wind Sector Market Share in Investor Update
Sanghvi Movers, the world's 5th largest crane rental firm, reported a significant financial turnaround with a 51% reduction in its Debt-to-Equity ratio to 0.33. The company holds a dominant 50-60% market share in India's wind and cement sectors and has reinvested ₹900 crore to grow its gross block by 30%. With a 10-15% improvement in EBITDA margins between 2020-2024, the management is now targeting international expansion in the GCC and Africa. The company is well-positioned to leverage India's ₹12.2 lakh crore infrastructure capex planned for FY27.
Key Highlights
Reduced Debt-to-Equity ratio by 51% (from 0.69 to 0.33) between 2020 and 2024
Holds 50-60% market share in Wind Energy and Cement, and 40-50% in Nuclear and Thermal Power
Reinvested ₹900 crore in fleet CAPEX, increasing the gross block by 30% during the turnaround phase
Achieved 10-15% EBITDA margin growth through operational modernization and SAP implementation
Targeting global growth via expansion into the GCC region and Southern Africa (Botswana)
👀 What to Watch
The stock remains a strong play on India's infrastructure and renewable energy capex, backed by a significantly healthier balance sheet. Investors should monitor the execution of the 'Elevate 2030' strategy and international expansion for further valuation re-rating.
Sanghvi Movers Reports ₹1,800 Cr Order Book and Outlines ₹629 Cr Capex Plan for FY26
Sanghvi Movers reported a robust consolidated order book of ₹1,800 crores, with ₹1,200 crores slated for execution in the current financial year. The company is undergoing a significant investment phase with a ₹629 crore capex plan to expand its fleet in India and Saudi Arabia. Management maintains a long-term annual utilization target of 75-80% and expects margin normalization in FY27 as new assets become fully operational. International expansion is gaining traction with a new order in Botswana and steady scaling in the Middle East.
Key Highlights
Consolidated order book of ₹1,800 crores with ₹1,200 crores executable in FY26
Total FY26 capex plan of ₹629 crores focusing on India and Saudi Arabian markets
Inquiry pipeline expanded significantly to approximately ₹2,900-3,000 crores
Targeting annual crane utilization in the 75-80% range despite seasonal volatility
Entry into Botswana marks expansion into Africa alongside scaling Middle East operations
👀 What to Watch
The stock remains a strong play on India's infrastructure and renewable energy cycle; investors should watch for margin improvement in FY27 as operating leverage kicks in. Monitor the timely deployment of the remaining ₹268 crore capex to ensure revenue growth targets are met.
Sanghvi Movers 9M FY26 Revenue Jumps 40% to ₹719 Cr; Massive ₹629 Cr CapEx Underway
Sanghvi Movers reported a robust 39.7% YoY growth in 9M FY26 revenue reaching ₹719 Cr, primarily driven by its core crane rental and expanding Wind EPC segments. While 9M PAT grew 12.5% to ₹116 Cr, Q3 PAT saw a 12.4% decline YoY due to an ₹8 Cr exceptional item related to labor code implementation and asset damage. The company is aggressively executing a ₹629 Cr CapEx plan for FY26 to expand its fleet in India and Saudi Arabia. Despite high capital spending, the balance sheet remains healthy with a Net Debt/Equity ratio of 0.48.
Key Highlights
9M FY26 Revenue grew 39.7% YoY to ₹719 Cr, while EBITDA rose 11.2% to ₹286 Cr.
Consolidated PAT for 9M FY26 stood at ₹116 Cr, up 12.5% YoY despite margin pressure in Q3.
Aggressive CapEx of ₹629 Cr planned for FY26, with ₹361 Cr already incurred for 110 new cranes.
Revenue diversification improved with Wind EPC now contributing 30% of total turnover compared to Crane Rentals at 66%.
Maintained strong operational efficiency with capacity utilization at 76.1% in India and 78.3% in KSA.
👀 What to Watch
Investors should focus on the company's successful diversification into Wind EPC and its aggressive expansion in the Saudi Arabian market. The stock remains a key beneficiary of India's infrastructure and renewable energy push, though short-term margin fluctuations due to CapEx timing should be monitored.
Sanghvi Movers Expands to Qatar with New Step-Down Subsidiary for Crane Rentals
Sanghvi Movers Limited has announced the incorporation of a new wholly owned step-down subsidiary in Qatar named Sanghvi Mover Middle East Heavy Lift Limited. The new entity has been established with a share capital of 2,00,000 Qatari Riyals to provide crane rental services. This move marks a strategic expansion into the Middle Eastern heavy lift market, leveraging the company's core expertise. While operations are yet to commence, the subsidiary is 100% controlled through the company's existing Middle East arm.
Key Highlights
Incorporated Sanghvi Mover Middle East Heavy Lift Limited in Qatar on February 04, 2026
The subsidiary is 100% owned by Sanghvi Movers Middle East Limited
Initial share capital set at 2,00,000 Qatari Riyals
Business focus remains on the core competency of crane rental services
Expansion aims to capture infrastructure and industrial growth in the Middle East region
👀 What to Watch
Investors should view this as a positive step toward geographic diversification. Monitor future earnings reports for updates on contract wins and revenue contribution from the Qatari operations.
Sanghvi Movers Q3 Revenue Up 13.4% YoY to ₹236 Cr; 9M Revenue Jumps 39.7%
Sanghvi Movers reported a strong 39.7% YoY revenue growth for 9M FY26, reaching ₹719 Cr, driven by its expansion into renewable EPC services. While Q3 revenue grew 13.4% YoY to ₹236 Cr, PAT for the quarter declined by 12.4% YoY to ₹29 Cr due to one-time exceptional items. The company's subsidiary, Sangreen Future Renewables, secured significant wind EPC orders worth ₹428.72 Cr, providing strong revenue visibility. Additionally, the company is expanding internationally with a new $4.3 million contract in Botswana.
Key Highlights
9M FY26 Revenue grew by 39.7% YoY to ₹719 Cr, with EBITDA up 11.2% to ₹286 Cr
Q3 FY26 PAT fell 12.4% YoY to ₹29 Cr, impacted by one-time exceptional items
Secured wind BOP EPC orders worth ₹428.72 Cr through subsidiary Sangreen Future Renewables
Expanded global footprint with a USD 4.3 million power project contract in Botswana
EBITDA margins remained healthy at 38.6% for Q3 and 39.8% for 9M FY26
👀 What to Watch
Investors should focus on the robust top-line growth and the massive new order book in the renewable segment, which suggests strong future earnings potential despite the temporary PAT dip. Monitor the execution of international projects in Botswana and the MENA region as part of their ELEVATE 2030 strategy.
Sanghvi Movers Q3 FY26 Consolidated Net Profit Rises 25.6% YoY to ₹28.46 Crore
Sanghvi Movers reported a strong year-on-year performance for Q3 FY26, with consolidated revenue from operations growing 58.8% to ₹239.05 crore. Net profit for the quarter stood at ₹28.46 crore, up 25.6% compared to ₹22.66 crore in the same period last year. The growth was primarily driven by a massive surge in the Wind EPC segment, which contributed ₹84.37 crore compared to just ₹10 crore a year ago. However, the company recorded an exceptional loss of ₹3.87 crore due to crane damage, and sequential net profit declined by 12.8% from Q2 FY26.
Key Highlights
Consolidated Revenue from operations grew 58.8% YoY to ₹239.05 crore.
Wind EPC segment revenue jumped significantly to ₹84.37 crore from ₹10 crore in the previous year's quarter.
Consolidated Net Profit increased 25.6% YoY to ₹28.46 crore, though it fell 12.8% sequentially.
Exceptional loss of ₹3.87 crore recognized due to significant damage sustained by a crane cabin during mobilization.
Consolidated EPS for the quarter stood at ₹3.29, up from ₹2.62 in Q3 FY25.
👀 What to Watch
Investors should monitor the rapid scaling of the Wind EPC business, which is successfully diversifying the company's revenue mix. The strong YoY growth in revenue and profit suggests robust demand, though the sequential dip in margins due to exceptional items and higher expenses warrants a watch on operational efficiency.
