Sanghvi Movers Limited has informed the Exchange about General Updates
SANGHVIMOV · price
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Awaiting price reaction for this filing.
Sanghvi Movers reported FY25 total turnover of ₹823 Cr (up from ₹647 Cr) but profit after tax fell to ₹157 Cr from ₹188 Cr, as PBIDT margins compressed sharply to 45% from 63%. Average capacity utilisation dropped to 73% (from 84%) and blended yield slipped to 2.05% per month (from 2.20%). The company invested ₹235 Cr in capex during FY25, lifting crane fleet capacity to 91,693 MT, and plans ₹246 Cr capex in FY26 including 56 new cranes. Net debt rose to ₹376 Cr (debt-equity 0.33) and receivable days stretched to 123 days from 95. Order book stands at ₹600 Cr as of 15 April 2025, with 63% from the renewable business (Wind EPC subsidiaries).
Mixed signals for shareholders — top-line growth is strong and order book visibility is healthy, but margin pressure, rising debt, weakening yields/utilisation, and longer receivable cycles are concerns. Watch for execution of the renewable EPC business and capex productivity in FY26.