Sanghvi Movers Targets 25–30% Top-Line Growth In FY26 On Strong Order Book
The international expansion of their crane operations, particularly into Saudi Arabia, could become a major revenue stream for Sanghvi Movers, says Managing Director Rishi Sanghvi.
After wrapping FY25 with significant strategic initiatives, Sanghvi Movers Ltd. is confident of achieving a 25–30% top-line growth in FY26, supported by a strong order book.
While the core crane rental business is expected to grow steadily, the company is expanding its presence in the wind EPC segment, according to Managing Director Rishi Sanghvi.
"For FY26, we're targeting overall top-line growth of 25% to 30%, with the crane business growing 10% to 15%. We aim to double revenue in the Wind EPC segment with an Ebitda margin of 10% to 12%, and also double the project EPC business, which should yield an 8% to 10% Ebitda," he told NDTV Profit in an interview on Friday.
The company faced a YoY contraction in net profit and Ebitda in Q4. While Sanghvi did not directly comment on the development, he emphasised that the company had a strong Q4 FY25, with a profit after tax of Rs 53.83 crore, 79% capacity utilisation and a 2% blended average yield.
"There was a general election last year, as well as there was a significant slowdown in government spending, as well as a prolonged monsoon. But the last quarter's performance is indicative that things are moving in the right direction and that the economy will continue to fire on all cylinders in the coming financial year," he said.
Adding to this, he explained Sanghvi Movers' strategic entry into the wind EPC space, despite its lower margins, is a response to strong demand from IPPs seeking turnkey wind farm solutions.
"This move is driven by demand from our customers, particularly IPPs, who are seeking credible partners. We’ve directed over 15 gigawatts of capacity in India, giving us a strong foundation.
"Last year, the EPC segment generated around Rs 240 crore in revenue with an Ebitda of approximately 17%. The business is still in its early stages, but we expect revenue to double next year, with Ebitda margins settling between 10% and 12%," he said.
He also noted the international expansion of their crane operations, particularly into Saudi Arabia, could become a major revenue stream.
“We are extremely bullish on the growth opportunity in Saudi Arabia. There are several massive infrastructure projects underway. We believe we are well-positioned to establish a strong presence and replicate our scale and success from India in the Saudi market," he added.
Shares of Sanghvi Movers ended 8.66% lower at Rs 295.9 apiece on the BSE on Friday, compared to a 0.95% advance in the benchmark Sensex.
