Multibagger Stock which is the largest crane-hiring company in India and ranked 5th in the world, jumped 6 percent in the day’s trade after it received work orders worth Rs. 166 Crores.
At 11:58 a.m the shares of Sanghvi Movers Limited were trading at Rs. 843.50, up 4 percent from its previous day’s close price of Rs. 810.60 and its market capitalization is Rs. 3656 Crores. It has delivered multi-bagger returns of 162 percent in a year.
Sanghvi Movers Limited has received a work order worth Rs. 166 Crores from one of the prominent Independent Power Producers (IPP) in the renewable energy sector, for providing Cranes, WTG Inter-carting, Installation & pre-commissioning and making Wind Turbine generators (WTG) Foundations with geotechnical analysis.
The Crane rental services account for approximately 33 percent of the total contract value and the balance accounts for the activities above under wind EPC services as mentioned above.
The total order value translates to 300 MW of new capacity addition by its esteemed customer. This is the largest single order it has received from a single customer in the Wind EPC segment. The total duration of the contract is 24 months starting from January 2024 to January 2026.
The company’s revenue from operations grew 36.11 percent from Rs. 335 Crores in FY22 to Rs. 456 Crores in FY23, accompanied by increasing profits of Rs. 29 Crores to Rs. 112 Crores.
Sanghvi Movers Limited is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector, it has a fleet of 404 medium to large-size hydraulic truck-mounted telescopic and lattice boom cranes and crawler cranes with lifting capacity ranging from 20 tons to 800 tons.
Written by: Bharath K.S
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