Sanghvi Movers Ltd

- 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was provided on changes in promoter or senior employee stake or direct insights into fundraising plans due to UPSI (Unpublished Price Sensitive Information) confidentiality.

- 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.

- 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.

- 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.

- 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.