Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript. The company is running its annual operating plan and budgeting process, including decisions on capex, which will be approved by the Board before any announcements. Management emphasized disciplined capital deployment and long-term value creation rather than short-term volatility. Gross debt is currently around INR650+ crores, and finance cost/depreciation are expected to increase with asset capitalization but supported by operating leverage. For investor engagement and financia

Any current/future capex/capital investment/strategic investment?

Sanghvi Movers has a capex plan of INR 629 crores for FY '26, with substantial delivery already done; around INR 121 crores pending in India and INR 147 crores in Saudi Arabia, expected to be fulfilled in Q4 2026. Capital expenditure is aligned with fleet expansion; depreciation will increase accordingly but is supported by higher utilization and revenue scale. Management is in the process of budgeting capex for FY '27 and will reveal details after Board approval. The company is making disciplined capital deployment decisions based on return framework focused on utilization, yield, and long-te

Future growth expectations in sales/revenue/volumes?

Sanghvi Movers Limited targets INR1,000-plus crores revenue for FY 2026, with Q4 revenue guidance around INR500 crores, despite a possible 10-15% variation due to client-side factors. The company has a strong order book of INR1,860 crores as of Dec 31, 2025; INR1,200 crores executable in FY 2026, with 30-40% order book in hand before the financial year start, giving confidence for mid-year revenue certainty. The inquiry pipeline has expanded to nearly INR2,900 crores, indicating sustained demand across core markets. International expansions in Saudi Arabia, Qatar, and Botswana support geograph

Future growth expectations in earnings/operating earnings/profits/EPS?

Management expects revenue growth driven by a robust order book (INR1,800+ crores as of December 2025) and a growing inquiry pipeline (~INR2,900 crores). Operating leverage and margin normalization are anticipated as new asset deployments and geographic expansions (Saudi Arabia, Botswana, Qatar) gain scale. FY 2026 is an investment phase with deliberate spending on capability building, leading to margin pressure temporarily. Margin improvement and stable or higher EBITDA margins expected from FY 2027 onwards as utilization improves (targeted at 75-80%) and operating efficiency increases. Wind

Current/ Expected Orderbook/ Pending Orders?

As of December 31, the consolidated order book stood around INR1,860 crores. Of this, approximately INR1,200 crores are executable in the current financial year. Revenue guidance for the year is INR1,000-plus crores, implying around INR600 crores of orders will spill over to the next financial year. Approximately 15% of the order book may spill over due to market challenges. The company expects a Q4 revenue target of about INR500 crores (plus/minus 5-10%). Order book comprises crane rental-led work and wind project EPC, with an intent to maintain a balanced mix. The inquiry pipeline has expand

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Sanghvi Movers LtdQ4 FY27Commercial Services & Supplies

Sanghvi Movers Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹388P/E: 14.9Market Cap: ₹2.6K CrSector: Commercial Services & Supplies

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→Sanghvi Movers Limited targets INR1,000-plus crores revenue for FY 2026, with Q4 revenue guidance around INR500 crores, despite a possible 10-15% variation due to client-side factors.
→The company has a strong order book of INR1,860 crores as of Dec 31, 2025; INR1,200 crores executable in FY 2026, with 30-40% order book in hand before the financial year start, giving confidence for mid-year revenue certainty.
→The inquiry pipeline has expanded to nearly INR2,900 crores, indicating sustained demand across core markets.
→International expansions in Saudi Arabia, Qatar, and Botswana support geographical diversification to maintain parity between crane rental and EPC business.
→The company anticipates improved operating leverage and margin normalization as new assets are deployed and utilized, with medium-term operating utilization target between 75%-80% and ROCE mid-teens.
→Wind EPC segment shows robust annual demand despite quarter-to-quarter volatility; the company expects stable growth.

Margin guidance

Category 3

→Management expects revenue growth driven by a robust order book (INR1,800+ crores as of December 2025) and a growing inquiry pipeline (~INR2,900 crores).
→Operating leverage and margin normalization are anticipated as new asset deployments and geographic expansions (Saudi Arabia, Botswana, Qatar) gain scale.
→FY 2026 is an investment phase with deliberate spending on capability building, leading to margin pressure temporarily.
→Margin improvement and stable or higher EBITDA margins expected from FY 2027 onwards as utilization improves (targeted at 75-80%) and operating efficiency increases.
→Wind EPC segment margins are steady at 10-12%, while crane rental margins remain strong (~50%+).
→Capital allocation remains disciplined focusing on long-term returns, with ROCE targeted at mid-teens.
→Management emphasizes long-term value creation over short-term earnings volatility, expecting earnings and EPS growth aligned with business scaling and cost absorption.

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Fundraise plans

→There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript.
→The company is running its annual operating plan and budgeting process, including decisions on capex, which will be approved by the Board before any announcements.
→Management emphasized disciplined capital deployment and long-term value creation rather than short-term volatility.
→Gross debt is currently around INR650+ crores, and finance cost/depreciation are expected to increase with asset capitalization but supported by operating leverage.
→For investor engagement and financial communication, the company has engaged E&Y as its investor relations partner.
→Any sensitive or competitive information, including detailed capex or funding plans, will be shared post Board approval.
→No guidance was provided on changes in promoter or senior employee stake or direct insights into fundraising plans due to UPSI (Unpublished Price Sensitive Information) confidentiality.

Order book

Yes

→As of December 31, the consolidated order book stood around INR1,860 crores.
→Of this, approximately INR1,200 crores are executable in the current financial year.
→Revenue guidance for the year is INR1,000-plus crores, implying around INR600 crores of orders will spill over to the next financial year.
→Approximately 15% of the order book may spill over due to market challenges.
→The company expects a Q4 revenue target of about INR500 crores (plus/minus 5-10%).
→Order book comprises crane rental-led work and wind project EPC, with an intent to maintain a balanced mix.
→The inquiry pipeline has expanded to around INR2,900 crores, reflecting strong demand and potential future orders.
→By mid-year or third quarter, revenue certainty is expected as 30-40% of the next year's order book is already secured.

Capex plans

Yes

→Sanghvi Movers has a capex plan of INR 629 crores for FY '26, with substantial delivery already done; around INR 121 crores pending in India and INR 147 crores in Saudi Arabia, expected to be fulfilled in Q4 2026.
→Capital expenditure is aligned with fleet expansion; depreciation will increase accordingly but is supported by higher utilization and revenue scale.
→Management is in the process of budgeting capex for FY '27 and will reveal details after Board approval.
→The company is making disciplined capital deployment decisions based on return framework focused on utilization, yield, and long-term return on capital employed.
→The strategic Elevate 2030 agenda includes geographic expansion (successful entry into KSA, new orders in Botswana, plans for Qatar), focusing on building leadership, culture, technology, and financial growth.
→Management is cautious about providing forward financial guidance due to competitive sensitivity but remains committed to growth and international expansion with investments accordingly.

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