Sanghvi Movers Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,237 Cr
- P/E
- 15.49
- ROE
- 13.90%
- PEG
- 0.77
- Price to sales
- 2.60
- Debt to equity
- 0.58
- 52W high / low
- ₹521 / ₹226
- Sales growth (5Y)
- 36.76%
- EBITDA margin
- 34.71%
- Net profit margin
- 15.93%
- Promoter holding
- 47.25%
- Sales (last year)
- ₹1,244 Cr
Sanghvi Movers provides medium to heavy duty cranes on rental basis to various private and public sector undertakings. SML’s crane fleet consists of medium to large size hydraulic truck mounted telescopic and lattice boom cranes and crawler lattice boom cranes having a lifting capacity ranging from 20 MT to 1000 MT.[1]
Guidance scorecard · Q2 FY27 call
What Sanghvi Movers's management guided
and where it ranks in Commercial Services & Supplies
Commercial Services & Supplies
RevenueQ2 FY27 call
20–40%- Revenue guidance for FY27 is reaffirmed at INR 1,400 to 1,500 crores.
- Order book as of October 23, 2026, stands at INR 1,582 crores, up 26% from July 2026.
- Strong enquiry pipeline of INR 6,700 crores providing healthy visibility.
- Growth driven by core crane rental business in India and Botswana, GCC crane rental, and renewable E&C segment.
- Utilization expected to improve post-monsoon, especially in India during Q3 (seasonally strongest period).
- Renewable E&C is growing, targeting around 40% revenue mix in FY27, up from 31% in FY26.
2 more points from Sanghvi Movers's call on revenue
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MarginsQ2 FY27 call
See what Sanghvi Movers said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- FY27 capex ceiling revised to INR583 crores, including carry forward capex from FY26.
- INR182 crores capitalized in H1 FY27; INR401 crores pending for H2 FY27.
- Approximately 96% of planned capex relates to revenue-generating assets.
- Capex in the Middle East, especially Saudi Arabia (KSA), deferred to FY28 due to logistical disruptions and port congestion.
- Procurement aligned with contracted demand, prioritizing highest return assets.
- In India, capex expected to pick up post-monsoon, typically in Q3 and Q4.
- No plans currently for raising equity capital; expansion mainly through internal accruals and debt.
2 more points from Sanghvi Movers's call on capex
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FundraisingQ2 FY27 call
None plannedSee what Sanghvi Movers said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Rising- Total order book for FY27 stands at INR 1,582 crores.
- This entire order book is executable within the current financial year with a potential 8-10% spillover due to project delays, primarily in the E&C business.
- There is a strong inquiry pipeline worth INR 6,700 crores, providing good visibility for future orders.
2 more points from Sanghvi Movers's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Commercial Services & Supplies
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Sanghvi Movers latest results (Sep 2026)
Revenue
₹277 Cr
+32% YoY
Net profit
₹40 Cr
+11% YoY
Operating margin
31%
EPS
₹4.66
Sanghvi Movers shareholding (Sep 2026)
Promoters
47.25%
unchanged QoQ
FIIs
2.28%
+0.47 pp QoQ
DIIs
1.50%
+0.10 pp QoQ
Public
48.97%
−0.56 pp QoQ
Peers
Commercial Services & Supplies companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹41 Cr | 6.5 | |
| 2 | 40%+ | Up 0–2% | ₹25,682 Cr | 12.8 | |
| 3 | 40%+ | Flat | ₹387 Cr | 27.9 | |
| 4 | 40%+ | Flat | ₹97 Cr | 84.9 | |
| 5 | 40%+ | Flat | ₹92 Cr | 8.3 | |
| 6 | 20–40% | Up 2%+ | ₹17,591 Cr | 28.9 |
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Pro shows every company guiding 40%+ revenue growth →Full Commercial Services & Supplies rankingFinancials of Sanghvi Movers
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Sanghvi Movers
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% | 47.25% |
| FIIs + | 2.12% | 2.49% | 2.41% | 2.95% | 2.94% | 2.11% | 1.40% | 1.71% | 1.46% | 1.48% | 1.81% | 2.28% |
| DIIs + | 1.62% | 2.59% | 3.34% | 3.65% | 3.89% | 3.25% | 1.61% | 1.39% | 1.40% | 1.30% | 1.40% | 1.50% |
| Public + | 49.01% | 47.67% | 47.01% | 46.16% | 45.91% | 47.38% | 49.74% | 49.64% | 49.89% | 49.97% | 49.53% | 48.97% |
| No. of Shareholders | 44,902 | 49,310 | 66,371 | 65,948 | 67,463 | 68,155 | 68,561 | 66,754 | 63,907 | 60,472 | 57,904 | 63,538 |
Financials of Sanghvi Movers
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 146 | 140 | 167 | 151 | 156 | 208 | 267 | 273 | 210 | 236 | 351 | 380 | 277 |
| YoY Sales growth | +50% | +28% | +36% | +3% | +12% | +24% | +82% | +34% | +13% | +31% | +39% | +32% | |
| Expenses + | 58 | 54 | 52 | 76 | 83 | 132 | 161 | 174 | 129 | 150 | 217 | 254 | 190 |
| Operating Profit | 88 | 86 | 115 | 74 | 73 | 76 | 107 | 100 | 81 | 85 | 134 | 125 | 87 |
| OPM % | 60% | 62% | 69% | 49% | 47% | 37% | 40% | 36% | 38% | 36% | 38% | 33% | 31% |
| Other Income + | 6 | 5 | 6 | 20 | 8 | 6 | 7 | 7 | 8 | -3 | 9 | 13 | 19 |
| Interest | 5 | 7 | 7 | 6 | 6 | 6 | 7 | 7 | 7 | 9 | 13 | 13 | 15 |
| Depreciation | 33 | 34 | 32 | 33 | 33 | 31 | 31 | 31 | 31 | 33 | 36 | 39 | 37 |
| Profit before tax | 56 | 50 | 82 | 56 | 42 | 45 | 75 | 68 | 50 | 40 | 95 | 88 | 54 |
| Tax % | 26% | 26% | 25% | 27% | 30% | 26% | 28% | 26% | 27% | 28% | 27% | 26% | 25% |
| Net Profit + | 42 | 37 | 61 | 40 | 29 | 33 | 54 | 50 | 36 | 29 | 69 | 65 | 40 |
| EPS in Rs | 4.83 | 4.30 | 7.08 | 4.68 | 3.36 | 3.82 | 6.22 | 5.81 | 4.19 | 3.35 | 7.95 | 7.54 | 4.66 |
Financials of Sanghvi Movers
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales + | 224 | 335 | 456 | 782 | 1,070 | 1,244 |
| Sales growth | +50% | +36% | +37% | +30% | ||
| Expenses + | 137 | 197 | 199 | 452 | 671 | 812 |
| Operating Profit | 87 | 138 | 257 | 330 | 400 | 432 |
| OPM % | 39% | 41% | 56% | 42% | 37% | 35% |
| Other Income + | 29 | 37 | 30 | 41 | 21 | 39 |
| Interest | 26 | 17 | 17 | 26 | 37 | 49 |
| Depreciation | 122 | 118 | 121 | 129 | 132 | 145 |
| Profit before tax | -32 | 39 | 149 | 217 | 253 | 277 |
| Tax % | -30% | 26% | 25% | 28% | 27% | |
| Net Profit + | -22 | 29 | 112 | 157 | 184 | 203 |
| EPS in Rs | -2.59 | 3.39 | 12.94 | 18.08 | 21.29 | 23.50 |
| Dividend Payout % | 0% | 15% | 15% | 11% | 9% |
Financials of Sanghvi Movers
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 |
| Reserves | 725 | 833 | 1,134 | 1,302 | 1,390 |
| Borrowings + | 167 | 183 | 438 | 674 | 805 |
| Other Liabilities + | 64 | 96 | 185 | 359 | 329 |
| Total Liabilities | 964 | 1,121 | 1,765 | 2,343 | 2,532 |
| Fixed Assets + | 769 | 858 | 1,116 | 1,428 | 1,527 |
| CWIP | 0 | 7 | 18 | 9 | 58 |
| Investments | 30 | 35 | 150 | 87 | 185 |
| Other Assets + | 165 | 220 | 482 | 819 | 763 |
| Total Assets | 964 | 1,121 | 1,765 | 2,343 | 2,532 |
Financials of Sanghvi Movers
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | 130 | 257 | 162 | 278 | |
| Cash from Investing Activity + | -76 | -237 | -286 | -418 | |
| Cash from Financing Activity + | -48 | -15 | 89 | 182 | |
| Net Cash Flow | 6 | 5 | -36 | 42 | |
| Free Cash Flow | 80 | 52 | -75 | -130 | |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 94% | 101% | 65% | 85% |
Financials of Sanghvi Movers
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 86 | 79 | 110 | 92 | |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 86 | 79 | 110 | 92 | |
| Working Capital Days | 49 | 16 | 21 | 51 | |
| ROCE % | 15% | 16% |
Guidance history
How Sanghvi Movers's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 20–40% | — | Planned | None planned | Rising |
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
26 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | +2.3% | 56% |
| Last 6 months | +22.8% | 73% |
| Last 3 months | −24.0% | 5% |
The price is 45.1% below its all-time high of ₹676.63 (28 Mar 2024). Stocks more than 20% below their peak have their score halved, so 52 became 26.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Sanghvi Movers: 0.4 × 56 + 0.4 × 73 + 0.2 × 5 = 52, halved to 26 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Sanghvi Movers: frequently asked questions
What is Sanghvi Movers share price today?
Sanghvi Movers last traded at ₹371.65, with a market capitalisation of ₹3,237 Cr and a P/E ratio of 15.5.
What were Sanghvi Movers's latest quarterly results?
For the quarter ended Sep 2026, Sanghvi Movers reported revenue of ₹277 Cr (+32% year on year) and net profit of ₹40 Cr, with an operating margin of 31%.
Is Sanghvi Movers's profit growing?
Net profit was ₹40 Cr in Sep 2026 against ₹36 Cr in Sep 2025, a change of +11%.
What is Sanghvi Movers's EPS?
Sanghvi Movers's earnings per share for the quarter ended Sep 2026 was ₹4.66.
What is the promoter holding in Sanghvi Movers?
Promoters held 47.25% of Sanghvi Movers in Sep 2026 (unchanged versus Jun 2026).
How much do FIIs and DIIs hold in Sanghvi Movers?
In Sep 2026, foreign institutional investors held 2.28% and domestic institutions (including mutual funds) held 1.50% of Sanghvi Movers.
What is Sanghvi Movers's ROE and ROCE?
Sanghvi Movers's return on equity is 13.9% and its return on capital employed is 15.6%.
Does Sanghvi Movers pay a dividend?
Yes. Sanghvi Movers's dividend yield is 0.54% at the current price. The full payout history is on the Sanghvi Movers dividends page.
Which sector does Sanghvi Movers belong to?
Sanghvi Movers is in the Commercial Services & Supplies sector. Its peer comparison and sector ranking are on this page.
What did Sanghvi Movers's management say on the latest earnings call?
Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Sanghvi Movers's management.
How does Arthneeti AI analyse Sanghvi Movers?
Arthneeti reads Sanghvi Movers's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.
Continue your research
What Sanghvi Movers's management said in earlier quarters
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