### **Overview** Sanghvi Movers Limited (SML) is India’s largest and Asia’s leading crane rental company, ranked as the **5th largest globally** by fleet size and lifting capacity (IC Index 2025). Headquartered in Pune, the company specializes in heavy lifting, material handling, and project logistics across key industrial sectors such as renewable energy (particularly wind), power, steel, cement, petrochemicals, infrastructure, and EPC (Engineering, Procurement, and Construction). With over 35 years of operational history, SML has evolved from a crane rental provider into a diversified engineering and logistics group, driven by innovation, safety, and strategic expansion. --- ### **Core Business & Capabilities** - **Fleet & Assets**: - Operates **over 400 cranes** with lifting capacities ranging from **20 to 1,600 metric tons**, including hydraulic and crawler cranes from global manufacturers. - 80% of its fleet exceeds 100 MT capacity; it holds a dominant **60–65% market share in India’s high-capacity crane segment (>400 MT)**. - Owns **over 200 trailers**, including high-bed and multi-axle modular lines, supporting heavy haulage and logistics. - Gross block (asset value) stood at **₹2,700+ crores** as of September 30, 2025. - Strategic ownership of **175 acres of freehold land** and **15+ depots** across more than 10 Indian states for rapid mobilization. - **Services Offered**: - Crane rentals (core business, historically ~99% of revenue). - End-to-end engineering and lifting solutions: rigging studies, lift planning, tandem lifts, and on-site technical support. - Integrated logistics and transportation of oversized cargo via air, sea, and road. - Turnkey EPC services for **wind energy projects**—from site identification and permitting to turbine installation and commissioning. - Maintenance, repair, and 24/7 operational support with skilled manpower (2,500+ employees). - **Customer Base**: - Serves leading Indian and global corporates such as **Reliance Industries, NTPC, BHEL, L&T, Adani, Siemens, and Vestas**. - Active on over **130+ project sites** across India. --- ### **Strategic Transformation: "Elevate 2030" Vision** Launched in September 2025, **Elevate 2030** is SML’s five-year strategic roadmap designed to transition the company into a **multi-business, global infrastructure solutions group**. The strategy is built on **four to six core pillars**, depending on iteration: 1. **Global Expansion** - Entry into **Saudi Arabia** through **Sanghvi Movers Middle East Ltd.** (incorporated December 2024), now operational with **over 30 cranes deployed** and first **USD-denominated revenue earned** in Q2 FY26. - Aim to become a **top-five player in KSA**, followed by GCC-wide growth. - Total Saudi investments projected at $1.6–2 trillion under Vision 2030; crane rental market valued at **$800 million–$1 billion annually**. 2. **Portfolio Diversification Beyond Crane Rentals** - Establishment of two wholly-owned subsidiaries in 2024 under **Project Samruddhi**: - **Sangreen Future Renewables Pvt. Ltd.**: Full turnkey EPC solutions for wind and solar projects; contributes **~20% to bottom line**. - **Sangreen Logistics Pvt. Ltd.**: Integrated heavy equipment logistics across energy and infrastructure sectors. - Focus on **synergistic verticals** like above-ground piping, fabrication, and balance-of-plant services in hydrocarbons and renewables. 3. **Customer-Centricity and Value Creation** - One-stop-shop model offering customized, end-to-end project execution with **zero interface risk**. - Strong focus on **quality, safety, and sustainability**, reflected in ISO 9001, ISO 14001, ISO 45001, and GWO certifications. 4. **Organizational Restructuring and Agility** - Restructured into **independent business units** (Crane Rental, Renewables, Logistics, Middle East), each with **own P&L, leadership, and capital strategy**. - Aims to improve accountability, operational efficiency, and ability to raise dedicated capital. 5. **Digital Transformation & Innovation** - Adoption of **SAP** for integrated enterprise management. - Investment in **AI-led innovation** via a dedicated team and collaboration with **Bain & Company** under **Project AAROHAM** (launched June 2024) to identify and implement long-term growth levers. 6. **Employee Development & Performance Culture** - Building a **people-first, performance-driven** culture to support scalability and agility. --- ### **Recent Developments (Nov 2025 Focus)** - **Saudi Arabia Expansion Accelerating**: - Deployed **>30 cranes** (of a planned 54) with **100% utilization**, generating early revenue. - First **international revenue in USD**; EBITDA margins comparable to India despite higher operating costs. - Positioned to capitalize on giga-projects in energy, mining, transportation, and social infrastructure. - **Strong Demand Momentum**: - **₹1,250+ crore order book** across crane rental and renewable energy divisions. - **~$50 million** in active inquiries expected to convert into revenue over next 24 months. - H1 FY26 revenue up **57% YoY**, driven by sustained demand in power, infrastructure, and renewables. - **Fleet and Capex**: - Capex plan of **₹624 crore** unaffected by import duties; equipment being imported from Germany and China on track for delivery in **Q3–Q4 FY26**. - Recently added **1,600 MT crawler cranes** to enhance heavy-lift capabilities. - **Renewable Energy Leadership**: - Installed **over 17 GW of wind power capacity** across 100+ projects since inception. - A key enabler in India’s green energy shift, with **full-scope wind EPC offerings**, including WTG inter-carting, storage yard development, and commissioning. --- ### **Historical Milestones** - **1989**: Founded by Chandrakant P. Sanghvi; began operations with one 200 MT crane imported from the UK. - **1995**: Listed on BSE and NSE via IPO. - **1998**: Executed first major order for world’s largest single refinery complex (Reliance). - **2007–2008**: Recognized as **fastest-growing equipment rental company globally**. - **2021**: Expanded EPC footprint in wind energy with over 50 dedicated cranes for turbines >120m hub height. - **2023**: Secured largest Wind EPC order (₹166 crore) for 300 MW project. --- ### **Geographic Expansion Attempts** - **Vietnam (2021–2023)**: - Subsidiary formed but **suspended operations** due to **>90% fleet utilization in India** and **pandemic-related restrictions**. - Lessons learned applied to **Saudi Arabia strategy**, where capital and fleet deployment plans are more structured. --- ### **Financial Highlights (as of Nov 2025)** - **Revenue (H1 FY26)**: +57% YoY. - **Order Book**: >₹1,250 crores. - **Capex (FY24–26)**: ₹624 crores total (₹250–300 cr in FY24–25 already executed). - **Fleet Value**: ₹2,490 crores (as of Mar 2024), now exceeding ₹2,700 crores. - **Asset Utilization**: High (>84% in domestic market); strong demand sustaining margins.