SANGHVIMOV

Sanghvi Movers share price & financials

Price
₹414.75
Market cap
₹4.5k Cr
Sector
Services
Calls analysed
5
Latest concall · Q1 FY27 · call held 03 Aug 2026

Sanghvi Movers Limited Q1 FY27

Revenue from Operations ₹380 cr +39%EBITDA ₹139 cr +30%EBITDA Margin 35% Profit After Tax ₹65 cr +30%

What went well

  • Revenue from operations for Q1 FY'27 was Rs. 380 crores, a growth of 39% compared to Rs. 273 crores in Q1 FY'26.
  • Total income grew 40% to Rs. 393 crores against Rs. 281 crores in Q1 FY'26.
  • EBITDA was Rs. 139 crores, a 30% growth from Rs. 107 crores in Q1 FY'26, with a margin of 35%.

What to watch

  • EBITDA margin declined sequentially from 40% in Q4 FY'26 to 35% in Q1 FY'27, primarily due to higher expected credit loss provisions (Rs. 6.2 crores) and a change in revenue mix.
  • Core crane rental EBITDA margin moved from 53% in FY'26 to 47% in Q1 FY'27, a 6% point drop.
Read the full call →

What Sanghvi Movers Limited does

Sanghvi Movers rents out a fleet of hydraulic and crawler cranes (40-1,600 MT capacity) on a pay-per-use basis to infrastructure, power, oil & gas, petrochemical and heavy-industry customers across India, and increasingly the Middle East and Africa. It also executes wind-energy EPC contracts (turnkey conceptualisation-to-commissioning for wind farms) through its Renewables business, and provides end-to-end logistics for wind-energy assets. Beyond rental, it offers value-added technical services such as lifting-plan design, transportation of over-dimensional cargo, and repair & maintenance.

Segments

  • Crane Rentals
  • Renewables
  • Project EPC
Crane fleet size
370 cranes
Crane capacity range
40-1,600 MT (hydraulic and crawler cranes)
Market position
World's 5th-largest crane rental company, and the largest in India and Asia (IC Index 2025)
Depot network
15 depots across India plus 1 depot in Saudi Arabia
Freehold land for crane parking
175 acres
Countries of operation
India, Saudi Arabia, Qatar, Botswana
Founded 1989Headquarters Pune, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 19 tracked 5 delivered 1 missed 13 open
  • Annual Revenue delivered said Q1 FY26 Promised: 25-30% growth / INR 1,000+ crores Q1 FY27: FY26 is complete. Promise was achieved.
  • Debt-to-Equity Ratio missed said Q1 FY26 Promised: below 0.35 Q1 FY27: Gross D/E stood at 0.54x, remaining significantly above the 0.35x target. Management has issued a new, higher ceiling of 0.72 for FY28.
  • FY26 Capex Plan delayed said Q1 FY26 Promised: INR 321 crores Q1 FY27: Spillover from FY26 is part of the new FY27 capex plan. Deployment has begun with INR 92 cr spent in Q1 FY27.

All 19 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 39.2%, net profit up 30.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue156 208 267 273 210 +35%236 +13%351 +31%380 +39%
EBITDA73 76 107 100 81 +11%85 +12%134 +25%125 +25%
Net profit29 33 54 50 36 +24%29 −12%69 +28%65 +30%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +30.7% 1Y

₹300₹400₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 9 Feb 2026Q4 FY26 — 22 May 2026Q1 FY27 — 3 Aug 2026

1Y: ₹326.2 on 10 Sept 2025 → ₹426.5. High ₹520.75 (18 Aug 2026), low ₹226.45 (17 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+6.8%
3 Aug
Q4 FY26
+0.8%
22 May
Q3 FY26
−4.7%
9 Feb
Q2 FY26
−7.4%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 53.4% a year over 2 years, FY23 to FY26. Operating margin narrowed to 37.4%.

Year endingFY23FY25FY26
Revenue₹455 Cr₹782 Cr₹1.1k Cr
Operating profit₹257 Cr₹330 Cr₹400 Cr
Operating margin56.5%42.2%37.4%
Interest₹16 Cr₹25 Cr₹36 Cr
Depreciation₹122 Cr₹128 Cr₹131 Cr
Net profit₹112 Cr₹156 Cr₹184 Cr
Net margin24.6%19.9%17.2%
Cash from operations₹257 Cr₹162 Cr₹278 Cr
Free cash flow₹52 Cr₹-75 Cr₹-130 Cr
ROCE15.0%—16.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY25FY26
Equity capital—₹9 Cr₹9 Cr₹9 Cr₹9 Cr
Reserves—₹725 Cr₹833 Cr₹1.2k Cr₹1.3k Cr
Borrowings—₹167 Cr₹183 Cr₹493 Cr₹674 Cr
Other liabilities—₹64 Cr₹96 Cr₹238 Cr₹359 Cr
Total liabilities—₹964 Cr₹1.1k Cr₹1.9k Cr₹2.3k Cr
Fixed assets—₹769 Cr₹858 Cr₹1.2k Cr₹1.4k Cr
Capital work in progress—₹0 Cr₹7 Cr₹8 Cr₹9 Cr
Investments—₹30 Cr₹35 Cr₹192 Cr₹87 Cr
Other assets—₹165 Cr₹220 Cr₹555 Cr₹819 Cr
Total assets—₹964 Cr₹1.1k Cr₹1.9k Cr₹2.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs added +0.41 pp while DIIs trimmed −0.21 pp. The shareholder count shrank 16% to 57,904.

Promoters
47.3%
FIIs
1.8%
DIIs
1.4%
Public
49.5%

Since Jun 2025

  • FIIs +0.41 pp
  • DIIs −0.21 pp
  • Public −0.21 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 47.3%, FIIs 2.0%, DIIs 1.8%, Public 49.0%.Dec '23: Promoters 47.3%, FIIs 2.1%, DIIs 1.6%, Public 49.0%.Mar '24: Promoters 47.3%, FIIs 2.5%, DIIs 2.6%, Public 47.7%.Jun '24: Promoters 47.3%, FIIs 2.4%, DIIs 3.3%, Public 47.0%.Sep '24: Promoters 47.3%, FIIs 3.0%, DIIs 3.6%, Public 46.2%.Dec '24: Promoters 47.3%, FIIs 2.9%, DIIs 3.9%, Public 45.9%.Mar '25: Promoters 47.3%, FIIs 2.1%, DIIs 3.3%, Public 47.4%.Jun '25: Promoters 47.3%, FIIs 1.4%, DIIs 1.6%, Public 49.7%.Sep '25: Promoters 47.3%, FIIs 1.7%, DIIs 1.4%, Public 49.6%.Dec '25: Promoters 47.3%, FIIs 1.5%, DIIs 1.4%, Public 49.9%.Mar '26: Promoters 47.3%, FIIs 1.5%, DIIs 1.3%, Public 50.0%.Jun '26: Promoters 47.3%, FIIs 1.8%, DIIs 1.4%, Public 49.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Sanghvi Movers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rishi Chandrakant Sanghvi 28.82%unchanged
Mina Chandrakant Sanghvi 11.60%unchanged
Kedar Dattatraya Borgaonkar 7.21%unchanged
Niyoshi Chandrakant Sanghvi 5.78%unchanged
Arun Nahar 1.26%unchanged
Anil Kumar Goel 1.01%unchanged
Remcom Sales Services Pvt Ltd 1.00%unchanged
Maithili Rishi Sanghvi 1.00%unchanged
Jethi Builders And Traders Pvt. Ltd. 0.06%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹426, this stock must grow earnings at 13% every year for 7 years. Our analysis caps realistic growth at ~18%. At that growth it is worth ₹559 — upside of 31%.

Growth the price implies
12.6% a year
for 7 years, fading to 4%
It has actually compounded at
17.9% a year
net profit, FY25–FY26 · EPS 17.8%
The gap
-0.1 pp
31% downside if it only repeats history
Price today ₹426.5 Value at the reference growth ₹559.29

Change the assumptions yourself →

All earnings calls (5)

Read the Q1 FY27 call →

Learn to analyse Sanghvi Movers Limited

Guides on how to read this kind of business and the numbers that matter.