Synopsis:
Sangreen Future Renewables secured Rs. 292 crores in work orders for wind projects from IPPs, starting Q2 FY26 and completing by Q1 FY27, covering BOP activities.
During Tuesday’s trading session, shares of a company involved in the provision of medium to heavy-duty cranes on a rental basis to various private and public sector undertakings surged nearly 5 percent on BSE, after the company announced securing work orders worth Rs. 292 crores for wind projects.
At 10:28 a.m., the shares of Sanghvi Movers Limited were trading in the green at Rs. 377.65 on BSE, up by around 1.3 percent, as against its previous closing price of Rs. 372.65, with a market cap of Rs. 3,269.5 crores. The stock has delivered negative returns of over 6 percent in the last one year, but has gained by nearly 16 percent in the last one month.
What’s the News
According to the latest exchange filings, Sangreen Future Renewables Private Limited, a material subsidiary of Sanghvi Movers Limited, has secured large work orders, with an aggregate order size of Rs. 292 crores, from leading Independent Power Producers (IPPs). The projects are scheduled to begin in Q2 FY26 and are expected to be completed by Q1 FY27.
The scope of the order covers Wind Balance of Plant (BOP) activities, including the construction of WTG civil foundations, internal roads, crane platforms, WTG intercarting from storage yard to respective WTG locations, installation of wind turbine generators (WTGs), mechanical completion, internal 33kV line works, and the development of DP yards for each WTG.
Financials & more
Sanghvi Movers reported a significant growth in its revenue from operations, showing a year-on-year increase of around 81 percent from Rs. 151 crores in Q1 FY25 to Rs. 273 crores in Q1 FY26. Likewise, its net profit increased during the same period from Rs. 40 crores to Rs. 50 crores, representing a rise of around 25 percent YoY.
As of July 2025, the order book of Sanghvi Movers stands at Rs. 767 crores, with Rs. 273 crores already recognised as revenue up to 30th June 2025, and Rs. 494 crores in orders on hand scheduled for execution during the remainder of FY26.
For FY26, the company’s total planned capex in India is Rs. 321 crores, of which Rs. 114 crores has been incurred in Q1, leaving a balance of Rs. 207 crores to be deployed over the remainder of the year. In Saudi Arabia (KSA), the company’s balanced planned capex is estimated between Rs. 100-150 crores, with Rs. 26 crores already incurred in Q1 FY26.
Sanghvi Movers Limited is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector and has a fleet of medium to large-sized hydraulic truck-mounted telescopic and lattice boom cranes and crawler cranes with lifting capacities ranging from 20 tons to 1600 tons.
Written by Shivani Singh
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