Sanghvi Movers gains after arm secures Rs 292-cr renewable order

Sanghvi Movers rose 1.61% to Rs 378.65 after its material subsidiary, Sangreen Future Renewable, secured an order worth Rs 292 crore from prominent Independent Power Producers (IPPs).

The project covers wind balance of plant (BOP) works, such as construction of wind turbine generator (WTG) civil foundations, internal roads, crane platforms, WTG transportation from storage yard to site, installation and mechanical completion of WTGs, internal 33 kV line works, and DP yards. Execution will start in Q2 FY26 and is targeted for completion by Q1 FY27.

Sanghvi Movers provides medium- to heavy-duty cranes on a rental basis to various private and public sector undertakings.

The company reported a 24.1% rise in consolidated net profit to Rs 50.26 crore, on an 81.5% increase in revenue from operations to Rs 273.36 crore in Q1 FY26 over Q1 FY25.

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