Sanghvi Movers Limited has informed the Exchange about Transcript
SANGHVIMOV · price
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Sanghvi Movers reported Q3 FY26 revenue of around INR 719-720 crores, maintaining guidance of INR 1,000+ crores for the full year. Consolidated order book stood at approximately INR 1,860 crores as of December 31, 2025, with INR 1,200 crores executable in FY26, and an inquiry pipeline of INR 2,900-3,000 crores. Capex plan of INR 629 crores is largely delivered, with INR 121 crores pending in India and INR 147 crores in Saudi Arabia. Gross debt is around INR 650+ crores; Q3 had an exceptional charge of INR 8 crores linked to Labour Code impact and damaged assets. Management framed FY26 as an investment year and expects margin normalization in H2 with further improvement in FY27, while guiding to 75-80% utilization, mid-teens ROCE, and Saudi breakeven in 12-14 months.
Visibility for FY26 is strong with most revenue already secured, but near-term margins remain soft due to ongoing capability and geographic investments. The combination of a large order book, expanding international footprint, and expected operating leverage from FY27 is a positive medium-term signal, though the stock may stay rangebound until margin recovery materializes.