Sanghvi Movers Ltd Share Price

History of Sanghvi Movers Ltd

Sanghvi Movers Limited (SML), a flagship company of the Sanghvi Group, commands a significant presence in the global crane rental industry. SML 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 1600 tons. The Company's main business is operation of cranes. These cranes are used for various applications, such as construction projects, power plant installations, wind turbine erection and maintenance work. The service network includes various depots located at Pune, Vadgaon, Chakan, Nagpur, Jamnagar, Bharuch, Delhi, Cuttack, Bangalore, Chennai and others. ...The company has operations in power generation wind mills of 5.05 megawatts installed in states of Rajasthan and Karnataka. Established on November 3, 1989, the Company is promoted by Rishi C. Sanghvi and Mina C. Sanghvi. In 1995, the company came out with a public issue at a premium of Rs 75 to part finance the acquisition of equipment and assets to expand its activities. During the year 1997-98, the company imported 28 cranes worth Rs 26 crore from Singapore for meeting the requirements of Reliance Petroleum Ltd for their Refinery at Jamnagar and Oil & Natural Gas Corporation Ltd for their Oil Field Project. In March 1998, the company took over the entire Cranes Division of a group company, namely Maharashtra Erectors Ltd, along with all their assets and liabilities on the going concern basis. During the year 1999-2000, the company completed the erection jobs for refinery at Reliance Petroleum Ltd, Jamnagar. During the year 2000-01, the company set up depot/ workshop at Baruch and Chennai for reducing mobilization cost and ensures timely deployment of cranes in these regions. During the year 2003-04, the company diversified their business activities and ventured in the Business of Power Generation by commissioning 5.05 MW Wind Mills of Rs 21.90 crore in Jaisalmer, Rajasthan and Chitradurga, Karnataka. Power Generation from Wind Mills commenced on September 30, 2003. The company purchased additional cranes of Rs 21.61 crore as expansion programme. The company completed expansion in cranes of Rs 81 crore during the year 2004-05, Rs 170 crore during the year 2005-06 and Rs 180 crore during the year 2006-07. During the year 2007-08, the company imported 34 Nos cranes and some attachments aggregating Rs 22048.43 lakh. Also, they purchases two lands at Jamnagar and Gadag (Karnataka) for depot purposes. The Business of Power Generation from Windmills was commissioned in Jaisalmer, Rajasthan and Chitradurga, Karnataka in 2009-10. During FY 2021-22, the Company incorporated its wholly owned subsidiary namely 'Sanghvi Movers Vietnam Company Limited' at Vietnam on 16 September 2021. It focused on optimum crane utilisation of its crane fleet and resulting to this, the average capacity utilisation of crane fleet improved to 76% in Financial Year 2021-22. The Company expanded the fleet to 394 cranes ranging from 40 MT to 1000 MT in 2023. In 2024, it implemented 'SAMAGRA' project. On 23 March 2024, Sangreen Renewables Private Limited was incorporated as wholly owned subsidiary company of the Holding Company. In FY2025, Company diversified fleet of over 370 heavy-duty telescopic and crawler cranes, ranging from 40 MT to 1,600 MT, supports operations at over 130 job sites across India. It operated over 95 high-bed trailers and 128 hydraulic axle lines, providing robust logistics support for large-scale projects during the year. Company incorporated Sangreen Future Renewables Pvt. Ltd., Sangreen Logistics Pvt. Ltd., and Sanghvi Movers Middle East Ltd. (KSA) as 100% subsidiaries during the year 2025.