Appointment of Mr. Mohammed Almanaseer as the Managing Director of Sanghvi Movers Middle East Limited (Wholly Owned Subsidiary of Sanghvi Movers Limited).
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Sanghvi Movers Limited announced its Q1 FY26 (quarter ended June 30, 2025) results with standalone revenue from operations of Rs. 15,934.54 lakhs (up from Rs. 13,093.08 lakhs in Q1 FY25) and standalone profit after tax of Rs. 4,180.63 lakhs versus Rs. 3,981.53 lakhs a year ago. Consolidated revenue stood at Rs. 27,335.50 lakhs with a consolidated profit after tax of Rs. 5,025.73 lakhs and EPS of Rs. 5.80. The board approved multiple senior-level changes: Mr. Sham D. Kajale resigned as CFO (effective June 30, 2025), replaced by Mr. Pradeep Mehta, a Chartered Accountant with 30 years of experience in MNCs and listed companies. Mr. Rajesh P. Likhite resigned as Company Secretary & Chief Compliance Officer citing personal reasons, with Mr. Vinav Agarwal taking over from August 7, 2025. Additionally, Mr. Mohammed Almanaseer, a supply chain and operations executive with 25 years of international experience and a PhD, was appointed as Managing Director of wholly owned subsidiary Sanghvi Movers Middle East Limited. The board also reconstituted its committees.
The YoY improvement in both standalone and consolidated revenue and profits is a positive signal for shareholders. However, the simultaneous departure of the CFO and Company Secretary within a short window could create short-term governance and transition uncertainty, even though the replacements appear experienced and were vetted by the Nomination and Remuneration Committee.