Shares of Sanghvi Movers Limited climbed over 6% in early trade after the company informed stock exchanges about a major order win in the renewable energy space. The positive market reaction followed the disclosure that its material subsidiary, Sangreen Future Renewables Private Limited, has secured large domestic work orders worth ₹428.72 crore from multiple Independent Power Producers (IPPs).
The contracts relate to a 270.6 MW Wind Balance of Plant (BOP) project and involve complete end-to-end EPC execution. The scope covers construction of wind turbine generator civil foundations, civil re-engineering wherever required, leasing and development of temporary access pathways, internal roads, external logistics roads, crane platforms, and crane boom assembly areas. In addition, the work includes inter-carting of WTGs from storage yards to installation locations, installation of turbines, mechanical completion, pre-commissioning activities, internal 33 kV line works, development of DP yards, and securing all permits and approvals necessary for commissioning.
According to the company, all the contracts have been awarded by domestic entities. Sanghvi Movers has clarified that neither its promoters nor promoter group entities have any interest in the awarding companies, and the orders do not fall under related party transactions, providing comfort on governance and compliance.
The execution timeline for these wind power projects is scheduled to begin from Q3 of FY 2025–26, with completion expected by Q1 of FY 2027–28. The sizeable order adds meaningful visibility to the company’s renewable energy order book and reinforces its growing role in large-scale wind infrastructure and EPC services.