Sanghvi Movers Limited Q2 Profit Rises 11% to ₹40.34 Crore

Sanghvi Movers Limited reported consolidated profit after tax of ₹40.34 crore for Q2 FY27, up 11.22% year on year, as consolidated revenue rose 31.95% to ₹276.97 crore in the quarter ended September 30, 2026. The result shows revenue growth outpacing profit growth during a seasonally softer period for heavy-erection activity.

What did Sanghvi Movers Limited report in Q2 FY27?

Sanghvi Movers Limited reported consolidated revenue from operations of ₹276.97 crore in Q2 FY27, compared with ₹209.90 crore in Q2 FY26. Consolidated operating profit increased to ₹86.77 crore from ₹80.79 crore a year earlier, while profit after tax rose to ₹40.34 crore from ₹36.27 crore.

The company disclosed the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, on November 2, 2026. The board also approved the limited review report and reconstituted certain board committees. Aditya Bhartia was appointed as an additional director in the capacity of non-executive independent director, effective November 2.

Why did revenue grow faster than profit?

Consolidated revenue increased by nearly 32%, whereas operating profit increased 7.40% and profit after tax increased 11.22%. Based on the reported figures, the consolidated operating margin was 31.33% in Q2 FY27, lower than 38.49% in the corresponding quarter a year earlier. Net profit margin was 13.62%, compared with 16.67% in Q2 FY26.

The reported performance reflects activity across heavy-lift logistics, renewable-energy execution, steel and infrastructure projects in domestic and export markets. The company operates in a business where revenue recognition can depend on project execution schedules and heavy-equipment deployment. As a result, quarterly performance can vary with the timing of site activity and project milestones.

The standalone numbers differed from the consolidated outcome. Standalone revenue from operations was ₹147.84 crore for Q2 FY27 and standalone profit after tax was ₹22.30 crore. The standalone profit was lower than ₹22.70 crore reported in Q2 FY26, while the group-level consolidated figures showed year-on-year growth.

How does Q2 compare with Sanghvi Movers Limited's first quarter?

Sanghvi Movers Limited's Q2 consolidated revenue was lower than the ₹379.67 crore reported in Q1 FY27, while consolidated profit after tax declined from ₹65.25 crore. The sequential decline followed a stronger first quarter and was linked in the available results context to monsoon-led seasonal slowing in heavy-erection work.

Q1 FY27 revenue had risen 38.89% year on year and profit after tax had increased 29.8% year on year. For the first half of FY27, consolidated revenue stood at ₹656.64 crore and EBITDA was ₹244.91 crore, according to the company information cited with the results. These figures place the first-half performance against management's full-year operating targets.

What are Sanghvi Movers Limited's FY27 operating targets?

Sanghvi Movers Limited has issued formal FY27 consolidated guidance for total income of ₹1,400 crore to ₹1,500 crore and EBITDA of ₹525 crore to ₹575 crore. The company has also set a net debt-to-equity ceiling of 0.72 times for the year.

Its FY27 capital expenditure pool was stated at ₹652 crore, including ₹164 crore carried forward from FY26. Of this amount, ₹92 crore had been capitalised in the first quarter. The stated investment plan is relevant because crane fleet additions and project capabilities require sizeable funding, while finance costs and leverage remain material considerations for investors.

The company had also reported an order book of ₹1,253 crore as of July 24, up from ₹1,053 crore in mid-May. Utilisation was reported at 86% in India and Saudi Arabia at that point. These operating indicators provide context for the revenue pipeline, though the quarterly results do not establish the timing of conversion of individual orders into revenue.

What does the Q2 result mean for investors and operations?

The Q2 figures show that Sanghvi Movers Limited maintained year-on-year growth in consolidated revenue and profit despite a lower sequential base after Q1. However, the difference between revenue growth and profit growth indicates lower margins during the quarter. Investors tracking the company will therefore need to assess both the scale of project execution and the cost of delivering that growth.

The standalone and consolidated results also show the importance of reviewing the reporting basis. Standalone operations recorded lower year-on-year profit, whereas the consolidated business reported higher profit and materially higher revenue. The group performance was supported by its wider operating structure, including Wind E&C activity, while project timing remained a key influence on quarterly comparisons.

Conclusion

Sanghvi Movers Limited delivered Q2 FY27 consolidated revenue of ₹276.97 crore and profit after tax of ₹40.34 crore, representing year-on-year increases of 31.95% and 11.22%, respectively. The quarter maintained growth in a heavy-lift and project-execution business, but margin compression meant the expansion in revenue did not translate proportionately into operating or net profit.

The next points to watch are progress towards FY27 guidance of ₹1,400 crore to ₹1,500 crore in total income and ₹525 crore to ₹575 crore in EBITDA, as well as the execution of the ₹652 crore capital expenditure plan. Order-book conversion, fleet utilisation, leverage and margins will remain relevant indicators in subsequent disclosures.