Rents cranes and related heavy-lifting equipment to infrastructure, energy, and industrial customers in India, Saudi Arabia, and Botswana, and also executes wind and project EPC contracts. Crane hiring and ancillary services made up 68.8% of segment revenue (₹830.17 crore) at a 30.6% EBIT margin in FY26; Wind EPC, operated through subsidiary Sangreen Future Renewables which carries a 17+ GW track record, made up 27.5% (₹332.57 crore); and small-scale Project EPC made up 3.7% (₹44.68 crore). Asset utilization rose to 79% in FY26 from 74% the prior year, with an order book of ₹1,053 crore and an inquiry pipeline of ₹4,000 crore. India added a record 6.1 GW of wind capacity in FY26 (+46% YoY), supporting heavy-lift demand, while the KSA business crossed monthly EBITDA positivity with 85-90% utilization and yields above 4.5%. The asset-heavy rental model shows up in FY26 capex of ₹407.51 crore (38.1% of revenue), depreciation at 12.3%, and other operating expenses at 53.9%. Management plans ₹713 crore of FY27 capex (61 cranes) across India and KSA, targeting roughly 30% revenue growth. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Crane hiring and other ancillary services (69%), Wind EPC (28%), Project EPC (4%). Asset-heavy crane rental and EPC services business
| ₹ crore · consolidated | FY22 | FY23 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 335 | 456 | 782 | 1,070 |
| EBITDA (ex other income) | 138 | 257 | 330 | 392 |
| margin % | 41.1 | 56.4 | 42.2 | 36.6 |
| Owners' profit | 29 | 112 | 0 | 184 |
| EPS, as reported (₹) | 6.79 | 25.89 | 18.08 | 21.29 |
| ROE % · ROCE % | 4.0 · 6.5 | 13.3 · 16.8 | 13.7 · 17.0 | 14.1 · 15.5 |
| Debt / equity (x) | 0.23 | 0.22 | 0.38 | 0.51 |
| Cash from operations | 130 | 257 | 162 | 278 |
| Capex | (58) | (232) | (237) | (408) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 156 | 208 | 267 | 273 | 210 | 236 | 351 | 380 |
| Profit before tax | 42 | 45 | 75 | 68 | 50 | 40 | 95 | 88 |
| Net profit | 29 | 33 | 54 | 50 | 36 | 29 | 69 | 65 |
| EPS (₹) | 3.36 | 3.82 | 6.22 | 5.80 | 4.19 | 3.35 | 7.95 | 7.54 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Crane hiring and other ancillary services | 430 | 35.6 |
| Wind EPC | 226 | 18.8 |
| Project EPC | 37 | 3.1 |
| Crane Hiring and Other Ancilliary Services | 206 | 17.1 |
| (a) Crane hiring and other ancillary services | 194 | 16.1 |
| (b) Wind EPC | 106 | 8.8 |
| (c) Project EPC | 8 | 0.6 |
| Total, before eliminations | 1,207 | 100.0 |
| Company |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Independent Director Mr. Amitabha Mukhopadhyay resigns | management changes | medium | — | — |
| 7 Sept 2026 · Independent Director Mr. Amitabha Mukhopadhyay resigns | management changes | medium | — | — |
| 2 Sept 2026 · Sanghvi Movers: Promoter to gift 12.19% stake to spouse | ownership changes | medium | — | — |
| 1 Sept 2026 · Sanghvi Movers promoter gifts 12.19 percent stake to spouse via inter-se transfer | ownership changes | high | — | — |
| 26 Aug 2026 · Sanghvi Movers re-appoints MSKA and Associates as statutory auditors for 5 years | management changes | medium | — | — |
| 26 Aug 2026 · 37th AGM results: 6 resolutions passed, Rs 2 dividend declared | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Sanghvi Movers to meet Fidelity International on Aug 28 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Sanghvi Movers 37th AGM: Revenue Rs 1,070 cr, Rs 2 dividend recommended | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Sanghvi Movers to meet Unifi Capital on Sept 1 | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Sanghvi Movers to meet SRE PMS on August 26, 2026 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| M.cap ₹ cr |
|---|
| P/E |
|---|
| P/B |
|---|
| EV/EBITDA |
|---|
| ROE % |
|---|
| ROCE % |
|---|
| Rev CAGR 5y % |
|---|
| EBITDA m. % |
|---|
| INTL GEMOLOGICAL INST LTD | 13,611 | 22.3 | 9.15 | 13.1 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 9,297 | 106.7 | 31.07 | 5.9 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,728 | 18.6 | 2.58 | 13.1 | 13.8 | 14.8 | 26.2 | 68.9 |
| INOX GREEN ENERGY SER LTD | 7,175 | 57.5 | 4.18 | 42.6 | 6.0 | 9.0 | — | 131.6 |
| SMARTWORKS COWORKING SP L | 6,079 | 218.0 | 11.45 | 5.1 | 2.0 | 0.3 | — | 65.8 |
| NIRLON LTD | 5,526 | 16.0 | 11.79 | — | 73.8 | 18.1 | — | 79.4 |
| QUESS CORP LIMITED | 5,174 | 20.4 | 4.43 | 15.6 | 19.0 | 14.4 | 7.1 | 2.6 |
| INDIQUBE SPACES LIMITED | 4,272 | — | 8.30 | — | (20.7) | (2.5) | — | 67.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 18.5 | 14.3 | 52 of 89 | 42% |
| P/B | 2.8 | 1.5 | 64 of 92 | 31% |
| ROCE | 13.5 | 3.2 | 23 of 105 | 79% |
| ROE | 14.1 | 3.1 | 20 of 116 | 84% |
| Debt / Equity | 0.5 | 0.0 | 96 of 116 | 17% |
| EBITDA margin | 36.6 | 25.4 | 37 of 92 | 60% |
| Revenue growth | 38.9 | 16.2 | 31 of 91 | 67% |
| Profit growth | 29.8 | 5.2 | 53 of 110 | 52% |
| Market cap | 3688 | 56 | 9 of 104 | 92% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
