Sanghvi Movers Limited reported a 28% year-on-year jump in consolidated net profit for the quarter ended March 31, 2026, with PAT rising to ₹68.78 crore from ₹53.82 crore in Q4 FY25. Revenue from operations grew 32% year-on-year to ₹351.41 crore from ₹267.42 crore, reflecting strong demand for crane hire services across infrastructure, energy, and industrial sectors.
Q4 FY26 key numbers
EBITDA for the quarter came in at approximately ₹134 crore, up from approximately ₹100 crore in Q4 FY25 — a 34% year-on-year improvement. EBITDA margin, however, compressed modestly to 38.18% from 40% in the year-ago period, reflecting the higher operating cost base that accompanies rapid revenue scaling. Employee benefits expense rose to ₹28.69 crore from ₹13.75 crore year-on-year — more than doubling — indicating significant workforce expansion to service the higher activity levels. Finance costs increased to ₹12.63 crore from ₹7.44 crore, while depreciation and amortisation rose to ₹35.65 crore from ₹31.30 crore, both consistent with a capital-intensive business adding to its asset base.
Operating and other expenses were ₹188.53 crore in Q4 FY26 against ₹146.76 crore in Q4 FY25 — the largest expense line and the primary driver of the margin compression despite strong revenue growth.
Total income including other income stood at ₹359.78 crore for the quarter against ₹273.93 crore in the year-ago period.
Full year FY26 performance
For the full financial year ended March 31, 2026, Sanghvi Movers reported consolidated revenue from operations of ₹1,070.44 crore against ₹782.11 crore in FY25 — a growth of 37% year-on-year. Full-year net profit came in at ₹184.28 crore versus ₹156.52 crore in FY25, a 17.7% increase. Total income for FY26 stood at ₹1,099.62 crore against ₹822.86 crore in FY25.
The full-year profit growth of 17.7% lagging the revenue growth of 37% reflects the margin compression visible in the quarterly numbers — operating costs, employee expenses, and finance costs have all scaled faster than revenue on an annualised basis, suggesting the company is in an investment phase where capacity and workforce expansion is running ahead of full utilisation.
What drives Sanghvi Movers’ business
Sanghvi Movers is India’s largest crane hire company, providing large and heavy cranes for infrastructure projects including power plants, oil refineries, petrochemical complexes, cement plants, and renewable energy installations — particularly wind turbine erection, which has become an increasingly significant revenue driver as India’s wind energy capacity expansion accelerates.
The 32% revenue growth in Q4 FY26 reflects the broad-based infrastructure spending cycle running across Indian industry, with renewable energy project execution, port development, and industrial capex all contributing to elevated crane hire demand. The company’s asset-heavy model — owning and deploying a fleet of large cranes — means revenue growth translates directly into operating leverage as fixed assets generate higher returns at higher utilisation.
The exceptional item of negative ₹50.29 lakh in Q4 FY26 is minor and does not materially affect the earnings picture.
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