Sanghvi Movers Limited – Investor Presentation Summary

Key Operational Highlights

  • Gross Block stood at ₹3,300 crore as of Q1 FY27.
  • The company maintained a strong order book of ₹1,253 crore as of July 24, 2026.
  • An enquiry pipeline of ₹5,641 crore provides future revenue visibility.
  • Fleet utilization remained strong at 86% in the core crane rental business (India).
  • Yield was 2.29% for the core business.

Key drivers of operational performance: Expansion into Middle East operations, execution of renewable energy projects through SFRPL, and strategic fleet additions through capex.

Segment-wise Performance

  • Core Crane Rental (India): Total Income of ₹226 crore, EBITDA Margin of 47%, ROCE of 15%, DSO of 124 days.
  • Sanghvi Movers Middle East Ltd (SMMEL): Total Income of ₹130 crore, EBITDA Margin of 23% (improved from -23% in FY26), negative ROCE of -6%, DSO of 201 days.
  • Sangreen Future Renewables (SFRPL): Total Income of ₹539 crore, EBITDA Margin of 14%, ROCE of 77%, DSO of 98 days.
  • Other Segments: Total Income of ₹70 crore.

Explanation of significant changes in segment performance: SMMEL showed significant improvement achieving positive EBITDA margin due to fleet utilization ramp-up. SFRPL contributes to asset-light diversification with high ROCE.

Financial Highlights

Revenue: ₹393 crore

EBITDA: ₹139 crore

PAT: ₹65 crore

EPS: ₹7.5

Margins: EBITDA Margin 35%, PAT Margin 17%

YoY/QoQ comparison: Revenue growth of 40% YoY from ₹280 crore in Q1 FY26. PAT growth of 30% YoY from ₹50 crore in Q1 FY26.

Drivers of financial performance: Strong revenue growth across all segments, improved performance in Middle East operations, and contribution from renewables EPC business.

Key Risks: Increase in ECL provision due to ageing receivables (expected to rationalize during FY), structural cost changes from labor code implementation, and forex MTM impact on loans.

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not explicitly broken down by geography in presentation. Operations span India, Saudi Arabia, Botswana, and Qatar.

Balance Sheet Snapshot

Net Debt/Equity: Not Specified

Reserves: Not Specified

Current Assets/Liabilities: Not Specified

Working Capital/Leverage Metrics: DSO of 116 days on consolidated basis.

Financial Health Insights: Company generated Cash Profit of ₹104 crore in Q1 FY27. ROCE of 16% and ROE of 15% as of March 31, 2026.

Capex & Cash Flow Health

Capital Expenditure: ₹652 crore planned for FY27, with ₹92 crore capitalized in Q1 FY27

Free Cash Flow: Not Specified

Operating Cash Flow: Not Specified

Net Debt Movement: Not Specified

Investment Rationale: Focus on capacity expansion in India and Saudi Arabia to support growth across crane rental and renewable energy businesses.

Strategic & R&D Initiatives

Investments in Innovation: Elevate 2030 strategy focusing on six core pillars: Customer-Centric Approach, Product Portfolio Diversification, Global Expansion, Robust Financial Growth, People-First Culture, and Scalable Digital Framework.

Expected impact on growth: International operations gaining traction in Saudi Arabia and MENA region; SFRPL strengthening presence across renewable energy value chain.

Strategic Rationale: Evolving from nation builder to global builder with GCC as launchpad; building complete renewable platform through SFRPL; retaining leadership in core crane rental business.

Industry Trends & Business Environment

Macro/Industry Trends: Refinery sector capacity growth (258 to 310 MTPA CAGR 5%); Cement sector growth (686 to 850 MTPA CAGR 6%); Steel sector growth (220 to 300 MTPA CAGR 8%); Wind energy growth (56.1 to 100 GW CAGR 15.6%); Thermal power growth (247 to 307 GW CAGR 6%); Nuclear power growth (8.8 to 22.5 GW CAGR 27%).

Impact on Company: Heavy-lift demand peaks as FY27 projects commission; plant erection and WHRS jobs from 160+ MT capacity additions in cement; mill buildout aids crane hiring in steel; record installs and 29 GW pipeline lift high-hub crane demand in wind; 62 GW under build/award sustains heavy-lift crane jobs in thermal; new reactor starts open long-cycle heavy lift opportunity in nuclear.

Management Commentary & Growth Outlook

Strategic Outlook: "FY26 marked a pivotal year in Sanghvi Movers' transformation journey, driven by strong execution in the core crane rental business and expansion into new growth avenues. Supported by a healthy order book, disciplined capital allocation, and operational excellence, we remain well-positioned to deliver sustainable growth and create long-term shareholder value." - Rishi Sanghvi

FY Guidance: The presentation includes guidance for FY27 & FY28 but specific numerical targets are not provided in the text.

Market Share Targets: Not Specified

Risks and Opportunities: Risks include execution bottlenecks in renewables (land, RoW & grid delays), margin moderation in cement due to higher fuel & freight costs, and EU CBAM impact on steel and cement exports. Opportunities include significant market opportunity in renewables post policy change, $1.5T+ market growth in Middle East with 10-12% CAGR, and opening of nuclear sector to private players through SHANTI Act.

ESG Updates

Not Specified

Digital Transformation

Not Specified