Sanghvi Movers Limited (NSE: SANGHVIMOV), one of India\u2019s leading crane rental and heavy equipment services companies, reported its unaudited financial results for the third quarter ended December 31, 2025, displaying a mixed performance with healthy revenue growth but pressure on profitability metrics.<\/p>\n\n\n\n
For Q3 FY2026, Sanghvi Movers posted revenue from operations of approximately \u20b92415.0 crore, a sharp increase compared with the prior year period. On a consolidated basis, net profit stood at \u20b9326.6 crore, rising strongly from the year-ago quarter, which reflects a substantial improvement in absolute profit compared with Q3 FY2025 figures.<\/p>\n\n\n\n
However, alternate market reporting shows differences in standalone performance figures, for example, some platforms report revenue of \u20b9241.50 crore with net profit of \u20b928.97 crore and net profit margins of around 12%, indicating significant variance likely due to reporting format (standalone vs consolidated).<\/p>\n\n\n\n
The quarterly results include the impact of an exceptional loss of \u20b937.8 crore due to damage to a crane cabin during mobilization, along with reversal of input tax credits, which weighed on profitability.<\/p>\n\n\n\n
Nine-month financials also show strong cumulative performance, with consolidated revenue of \u20b95483.5 crore and net profit of \u20b9715.5 crore, supported in part by profit on the sale of property, plant, and equipment.<\/p>\n\n\n\n
Despite the revenue strength, operating and net margins experienced pressure in some reports. Third-party analyst summaries highlight:<\/p>\n\n\n\n
YoY profit margin compression, with quarter-on-quarter comparisons showing elevated costs and operational challenges.<\/p>\n\n\n\n
Some financial trackers reported a decline in profit or profitability ratios on a standalone basis, reflecting possible cost escalations or pricing pressures in the crane rental segment.<\/p>\n\n\n\n
During the earnings call, the management, led by CEO Mr. Gaurang Desai, outlined a clear roadmap for the company’s transition from a purely cyclical crane rental player to a diversified heavy-lift and EPC.<\/p>\n\n\n\n
Management expressed confidence in achieving 25-30% consolidated revenue growth for the full year 2026.<\/p>\n\n\n\n
Gaurang Desai, CEO said, “We are intentionally entering a high-growth, investment-heavy phase. Our entry into Saudi Arabia and the expansion of our EPC services are designed to de-risk the business from the cyclical nature of the Indian infrastructure market. While margins are temporarily compressed due to higher mobilization and employee costs, the long-term ROE remains our North Star.”<\/p>\n\n\n\n
Sanghvi Movers\u2019 Q3 FY2026 performance reflects a robust growth trajectory in top-line revenue, underpinned by strong demand in core crane and heavy equipment services. However, profitability outcomes show mixed signals, with exceptional costs and margin pressures affecting the standalone bottom line in some reporting. <\/p>\n\n\n\n
The increase in the Debt-to-Equity ratio (0.41x) and rising interest costs (\u20b99.27 Cr for the quarter) are areas of focus for analysts. However, the company’s recent USD 4.3 million contract win in Botswana <\/strong>and the massive Vision 2030 opportunity in the Middle East suggest that the “growth-first” approach is yielding tangible order book gains.<\/p>\n","protected":false},"excerpt":{"rendered":" Sanghvi Movers Limited (NSE: SANGHVIMOV), one of India\u2019s leading crane rental and heavy equipment services companies, reported its unaudited financial results for the third quarter ended December 31, 2025, displaying a mixed performance with healthy revenue growth but pressure on profitability metrics. Quarterly Financial Results For Q3 FY2026, Sanghvi Movers posted revenue from operations of […]<\/p>\n","protected":false},"author":2383,"featured_media":125269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,9825,392],"tags":[12636],"class_list":["post-180095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-earnings-call-highlights","category-earnings","tag-cranes"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":151472,"url":"https:\/\/alphastreet.com\/india\/sanghvi-movers-ltd-q1fy24-200-rise-in-profits\/","url_meta":{"origin":180095,"position":0},"title":"Sanghvi Movers Ltd Q1FY24; 200% rise in Profits","author":"Chirag Gupta","date":"August 7, 2023","format":false,"excerpt":"Sanghvi Movers 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-size hydraulic truck mounted telescopic and lattice boom cranes and crawler cranes with lifting capacity ranging from 20 tons to 800 tons. 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