Sanghvi Movers Ltd receives order worth Rs. 166 crores

Sanghvi Movers Limited has received work order aggregating to Rs. 166 Crores from one of eminent Independent Power Producers (IPP) in the renewable energy sector, for providing Cranes, WTG Inter-carting, Installation & Precommissioning and making WTG Foundations with geotechnical analysis. The total duration of this contract is 24 months starting from January - 2024 till January 2026. Crane rental services account for approximately 33% of the total contract value and the balance accounts for the aforementioned activities under wind EPC services as mentioned above. Out of total contract value, ~ 3% of contract value will be executed in current financial year i.e. FY 2023-24, 64% of contract value will be executed in next financial year i.e. FY 2024-25 and the balance will be completed in FY 2025-26. The total order value translates to 300 MW of new capacity addition by our esteemed customer. This is the largest single order that we have received from a single customer in the Wind EPC segment.

Shares of Sanghvi Movers Limited was last trading in BSE at Rs. 796.50 as compared to the previous close of Rs. 818.50. The total number of shares traded during the day was 13686 in over 1404 trades.

The stock hit an intraday high of Rs. 820.75 and intraday low of 790.85. The net turnover during the day was Rs. 10984848.00.

Source : Equity Bulls

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