Sanghvi Movers FY26 profit up 18%, revenue ₹1,070 cr

Sanghvi Movers posts audited FY26 growth

Sanghvi Movers has reported audited results for the year ended March 31, 2026, showing higher revenue and profit on the back of stronger activity levels and improved utilisation. The company’s FY26 profit after tax (PAT) was reported at ₹184 crore, up 17.7% year-on-year (YoY), alongside revenue from operations of ₹1,070 crore. For the March quarter (Q4 FY26), management commentary and disclosures point to a sharp rise in quarterly revenue versus both the year-ago period and the immediately preceding quarter.

The results were declared on May 20, 2026, according to the information provided. Along with the audited financials, the company shared operational metrics such as capacity utilisation and blended yields, and updates on capital expenditure, order book, and its KSA subsidiary.

FY26 audited performance: revenue at ₹1,070 crore, PAT at ₹184 crore

For FY26, Sanghvi Movers reported revenue from operations of ₹1,070 crore, registering a 36.9% YoY increase from ₹782 crore in FY25. PAT for FY26 came in at ₹184 crore versus ₹157 crore in FY25, translating to 17.7% YoY growth.

The company also disclosed FY26 EBITDA of ₹429 crore, up from ₹371 crore in FY25, reflecting a 15.6% increase. The FY26 EBITDA margin was reported at 40.1%.

In a separate disclosure set (also included in the provided data), full-year figures were presented in INR million, where FY26 sales were 10,704.48 million (₹1,070.448 crore) and FY26 revenue was 10,996.28 million (₹1,099.628 crore). These are distinct line items from “revenue from operations” and should be read as reported.

Q4 FY26: revenue rises to ₹351 crore, profit near ₹69 crore

For Q4 FY26, the company reported revenue from operations of ₹351 crore, a 31.4% increase from ₹267 crore in Q4 FY25. Management also compared Q4 FY26 revenue to Q3 FY26, stating ₹351 crore versus ₹236 crore in Q3 FY26, indicating strong sequential expansion.

On profitability, Q4 FY26 PAT was reported at ₹69 crore, up from ₹54 crore in Q4 FY25. Another set of figures in the provided information shows Q4 FY26 net income of 687.86 million (₹68.786 crore) versus 538.3 million (₹53.83 crore) a year ago, which aligns closely with the ₹69 crore and ₹54 crore PAT numbers.

Sequential momentum was highlighted as well, with net profit stated at ₹68.79 crore in Q4 FY26 versus ₹28.97 crore in Q3 FY26.

EBITDA, expenses, and exceptional items

For Q4 FY26, EBITDA was reported at ₹143 crore compared with ₹113 crore in Q4 FY25, a YoY increase of 25.7%. The Q4 FY26 EBITDA margin was stated at 40.6%.

A separate quarterly detail set in the provided content stated that total expenses rose to ₹265.5 crore in Q4 FY26 from ₹193.0 crore in Q3 FY26 due to higher operating activity. It also reported finance costs of ₹12.6 crore in Q4 FY26 versus ₹9.3 crore in Q3 FY26, and depreciation expense of ₹35.7 crore for the quarter.

On exceptional items, the company reported an exceptional gain adjustment of ₹5.0 lakh in Q4 FY26, compared with an exceptional charge of ₹8.4 crore in Q3 FY26 linked to labour code provisions and damage to crane equipment.

Segment mix: crane rental remains the core

For FY26, the company stated that the crane rental business contributed 65% of operating revenue. The renewal segment accounted for 31%, and Project EPC contributed the remaining 4%.

For Q4 FY26, another segment snapshot provided in the content showed crane hiring and ancillary services revenue of ₹268.6 crore (up from ₹180.1 crore a year earlier), Wind EPC revenue of ₹116.1 crore (from ₹99.6 crore), and Project EPC revenue of ₹14.0 crore.

Operations: utilisation, yield, and capital expenditure

Operationally, average capacity utilisation during Q4 FY26 was reported at 87%, while overall utilisation for FY26 was 79%. The company also stated that FY26 utilisation improved to 79% from 74% in the prior financial year.

Average blended yields were reported at 2.24% per month for Q4 FY26, and 2.12% per month for FY26.

On investments, Sanghvi Movers said it incurred total capital expenditure of ₹474 crore during FY26. This includes ₹373 crore in India and ₹101 crore in its KSA subsidiary.

KSA subsidiary: positive monthly EBITDA reported

The company stated that its KSA business has started generating positive monthly EBITDA recently. It also said it expects to achieve positive EBITDA by the end of the first half of the current financial year.

Order book and inquiry pipeline

As of May, the company stated that its consolidated order book stood at ₹1,053 crore. It also reported an inquiry pipeline of almost ₹4,000 crore.

These disclosures are intended to provide visibility on deployment planning and near-term execution, as presented by the company.

Standalone versus consolidated: why some Q4 numbers differ

The provided information includes a separate “standalone basis” snapshot for Q4 FY26 stating revenue of ₹205 crore (up 26% YoY from ₹162 crore), gross profit of ₹70 crore (from ₹58 crore), and net profit of ₹61 crore (from ₹43 crore). This standalone dataset differs from the ₹351 crore revenue and ~₹69 crore PAT figures described elsewhere in the same provided material, which are presented as consolidated numbers.

Because both sets are present in the source text, they should be read as different reporting bases rather than treated as a single unified series.

Key numbers at a glance

What investors typically track next

From the disclosures provided, near-term focus areas include how utilisation and yields sustain after a high-activity quarter, and how the company progresses on KSA profitability targets. Investors also tend to track whether higher finance costs and depreciation, as reported for Q4 FY26, remain elevated given the FY26 capex run-rate.

The company’s reported order book of ₹1,053 crore and inquiry pipeline of nearly ₹4,000 crore will remain key reference points for execution visibility, as presented.

Conclusion

Sanghvi Movers closed FY26 with audited revenue from operations of ₹1,070 crore and PAT of ₹184 crore, supported by stronger quarterly activity, higher utilisation, and a reported improvement in execution. Q4 FY26 revenue rose to about ₹351 crore with PAT near ₹69 crore, while the company also disclosed standalone Q4 numbers that are lower due to the different reporting base. The next updates to watch, based on the company’s statements, include progress on KSA profitability and conversion of the reported order book and inquiry pipeline into billed revenue.