Sanghvi Movers Limited (SML) stands as a dominant force in the global crane rental industry, recognized as the largest company in India and Asia, and among the world's top ten largest crane hiring companies. As a flagship entity of the Sanghvi Group, SML provides medium to heavy-duty cranes on a rental basis to various private and public sector undertakings.
The company's extensive fleet comprises over 346 medium to large-sized heavy-duty telescopic and crawler cranes, with lifting capacities ranging from 20 MT to 1,600 MT. These versatile cranes effectively support a diverse array of industries, including power, steel, cement, fertilizers, petrochemicals, refineries, the wind energy sector, and metro projects (both underground and elevated).
Sanghvi Movers operates through a robust and well-distributed network across India, ensuring efficient service delivery to its wide-ranging client base. The company has 17 strategically placed depots (13 operational) across the country, including locations such as Pune, Vadgaon, Chakan, Nagpur, Jamnagar, Bharuch, Delhi, Cuttack, Bangalore, and Chennai. This expansive network enables the company to manage its fleet across 130+ operational job sites throughout India.
The company's core business model is centered on providing comprehensive crane rental services. Its cranes are utilized for various critical applications, including large-scale construction projects, power plant installations, wind turbine erection, and complex industrial maintenance work. As of recent data, Sanghvi Movers maintains a high capacity utilization rate of 76% for its crane fleet.
Sanghvi Movers Ltd (SANGHVIMOV) currently holds a market capitalization of ₹2,341.45 Crore as of May 6th, 2025. The company has demonstrated a strong financial performance trajectory, marked by consistent revenue growth and profitability.
* Q3 FY2024-25 Performance (as of Dec 2024):
* Net profit declined 46.02% to ₹33.08 crore, compared to ₹61.28 crore in Q3 FY2023-24.
* Sales rose 24.50% to ₹207.96 crore, against ₹167.04 crore in Q3 FY2023-24.
* Consolidated revenues showed a 30.4% quarter-on-quarter (QoQ) increase and a 23.8% year-on-year (YoY) growth.
* FY2023-24 Performance:
* Net profit stood at ₹1,879 million, marking a significant 67.7% increase compared to ₹1,121 million in FY2023-24.
* Market Capitalization: ₹2,341.45 Crore (as of 6th May 2025)
* Dividend Yield: 1.11%
* P/E (Price-to-Earnings) Ratio: 12.46
* P/B (Price-to-Book) Ratio: 2.31
* Promoter Holding: 47.25% (as of Mar 2025)
Sanghvi Movers Ltd was established in 1989 and transitioned into a public limited company in 1994. Following a successful public issue in 1995, the company embarked on a strategy of importing various advanced cranes and acquired the cranes division of Maharashtra Erectors in 1998, significantly bolstering its fleet.
In 2003, the company diversified its business activities by venturing into power generation, commissioning 5.05 MW wind mills in Jaisalmer, Rajasthan, and Chitradurga, Karnataka, with commercial operations commencing on September 30, 2003. This diversification highlighted its commitment to exploring new growth avenues.
Sanghvi Movers has been actively expanding its international footprint to capitalize on global opportunities. The company established a subsidiary in Vietnam in 2021 and has since incorporated another subsidiary in the Kingdom of Saudi Arabia. This strategic move aims to provide construction equipment and allied services, catering to the increasing market base and business demands in the Middle East.
The company's growth strategy is underpinned by a continuous focus on optimizing fleet utilization and expanding its service offerings to solidify its market leadership. With a fleet of 426 medium to large-sized hydraulic trucks, telescopic, and lattice boom cranes (ranging from 20 to 800 tons), Sanghvi Movers serves a broad spectrum of sectors, including wind power, steel, power, refinery, cement, metals, construction, and paper industries.
The stability in promoter holding, which increased to 47.25% as of March 2025 from June 2024 levels, signals strong confidence in the company's future prospects.
The 52-week high of Sanghvi Movers Ltd (SANGHVIMOV) at ₹747.48 and a 52-week low of ₹206 indicate the stock's volatility but also point to potential for significant returns based on market conditions and the company's performance. Sanghvi Movers' strong market position, diversified service offerings, and strategic expansion initiatives position it favorably for future growth within India's burgeoning infrastructure and industrial sectors, as well as new international markets. The company is well-positioned to capitalize on India's sustained focus on infrastructure development and renewable energy projects.
