Q3 2026 Sanghvi Movers Ltd Earnings Call Transcript
Key Points
- Sanghvi Movers Ltd (BOM:530073) reported strong demand across infrastructure, renewables, metal, cement, hydrocarbon, and core industrial segments, aligning with their annual trajectory.
- The company maintained a stable crane utilization range of approximately 75% to 80%, with expectations to exit the year within the targeted annual band.
- Middle East operations are scaling steadily, with favorable pricing dynamics and healthy yield profiles, contributing to geographic diversification.
- The company has a robust order book with strong revenue visibility, characterized by longstanding customer relationships and staggered execution schedules.
- Sanghvi Movers Ltd (BOM:530073) is transitioning into a multi-country infrastructure service platform, with FY'26 as a year of investment and geographic scaling, positioning for growth in FY'27 and FY'28.
- Quarterly revenue execution slowed down during Q3, raising concerns about CapEx spend on the ground.
- The company faces challenges in maintaining EBITDA margins due to deliberate investments into capability building and structural cost pressures.
- There are concerns about the impact of exceptional items, such as labor code impacts and asset damage, affecting quarterly financial performance.
- The domestic institutional participation remains limited, with only around 1% involvement, indicating potential gaps in investor engagement.
- The company is exposed to risks associated with rapid international expansion, including potential execution risks and the need to manage pre-opening and initial operating costs in new markets.
Good evening and a warm welcome everyone to Q3 and nine months FY'26 earnings conference call of Sanghvi Movers Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions)
Please note the investor presentation and the financial results are available on the company website and the stock exchange. Also, anything said on this call which reflects our outlook for the future or which could be construed as a forward-looking statement must be reviewed in conjunction with the risk that the company faces.
The conference call is being recorded and the transcript along which audio of the same will be made available on the website of the company as well as on the exchanges. Please also note that the audio of the conference call is the copyright material of Sanghvi Movers Limited and cannot be copied, rebroadcasted, or attributed in the press or media without specific and written consent of the company.
From the management we have with us Mr. Gaurang Desai,
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