Sanghvi Movers Limited has announced that its 37th Annual General Meeting (AGM) will be held on Monday, August 24, 2026, via Video Conferencing (VC) or Other Audio Visual Means (OAVM). The meeting aims to secure shareholder approval for a final dividend of ₹2 per equity share for the financial year ended March 31, 2026, alongside key governance resolutions including the appointment of statutory auditors and alterations to the Articles of Association. The record date for determining dividend entitlement is fixed as August 14, 2026, while the cut-off date for voting rights is August 17, 2026.

The Board of Directors, in its meeting held on May 20, 2026, recommended the final dividend for shareholder consideration. In compliance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has designated August 14, 2026, as the record date. The AGM notice and annual report for FY26 will be dispatched electronically to shareholders with registered email addresses, with physical letters containing web links sent to those without registered emails.

Key Resolutions for Approval

Shareholders will vote on several ordinary and special business items. The ordinary business includes adopting the audited standalone and consolidated financial statements for FY26 and appointing M/s MSKA & Associates LLP as Statutory Auditors for a second term of five years, from the conclusion of the 37th AGM until the 42nd AGM. Additionally, Mr. Rishi C. Sanghvi will retire by rotation and offer himself for re-appointment as a Director.

Special business items require significant shareholder attention:

The alteration to the Articles of Association seeks to link the face value of equity shares to the Memorandum of Association, providing flexibility for future capital structure changes without requiring further amendments to the Articles. This change is consequential to a proposed subdivision of equity shares.

Managing Director Remuneration Ratification

A critical agenda item is the ratification of the total remuneration paid to Mr. Rishi C. Sanghvi, Managing Director, amounting to ₹6,45,86,595 for the period April 1, 2025, to March 31, 2026. This payment exceeds the limits prescribed under Regulation 17(6)(e) of the SEBI Listing Regulations due to performance-linked incentives.

The breakdown of the remuneration is as follows:

The Nomination and Remuneration Committee and the Board have justified the payout based on the scale of operations, roles undertaken, and alignment with industry practices. Shareholders are asked to ratify this payment through a special resolution.

What the Numbers Show

The decision to ratify remuneration exceeding regulatory thresholds highlights the company’s reliance on performance-linked incentives for its top leadership. With nearly half of the total remuneration (₹3.29 crore) coming from commission, the compensation structure is heavily tied to operational outcomes. This approach aligns executive rewards with financial performance but requires explicit shareholder oversight under SEBI regulations when prescribed limits are breached.

Voting and Participation Details

Remote e-voting will be available from August 21, 2026, at 9:00 AM IST to August 23, 2026, at 5:00 PM IST, facilitated by Central Depository Services (India) Limited (CDSL). Shareholders holding shares in demat mode can vote via their depository accounts (CDSL/NSDL), while physical shareholders must use the CDSL e-voting portal. Proxy appointments are not permitted for this VC/OAVM meeting. Large shareholders (holding 2% or more), promoters, and institutional investors are exempt from the first-come-first-served restriction for attending the virtual meeting.

Sanghvi Movers Limited reported a slight 1.5% year-on-year decline in standalone net profit to ₹41.2 crore for the quarter ended June 30, 2026 (Q1FY27), even as revenue from operations surged 27% to ₹203 crore. The divergence between top-line and bottom-line performance was driven by higher operating expenses and depreciation costs, offsetting the robust growth in the crane hiring segment. While consolidated profits rose 30% to ₹65.3 crore, the standalone entity faced margin pressure, highlighting the varying profitability dynamics across its domestic and international operations.

Standalone Financial Performance

The standalone results show a clear contrast between revenue momentum and profit realization. Revenue from operations increased to ₹20,297.46 lakh from ₹15,934.54 lakh in Q1FY26. However, total expenses rose sharply to ₹16,342.58 lakh from ₹11,388.87 lakh, primarily due to a 66% jump in operating and other expenses to ₹10,028.16 lakh. Depreciation and amortization also increased to ₹3,566.22 lakh from ₹3,135.25 lakh. Consequently, profit after tax (PAT) fell to ₹4,118.20 lakh from ₹4,180.63 lakh. Earnings per share (EPS) declined marginally to ₹4.76 from ₹4.83.

Segment-wise Breakdown

The crane hiring and ancillary services segment remained the primary revenue driver, contributing ₹19,205.52 lakh to total standalone revenue, up from ₹15,184.03 lakh in Q1FY26. This segment generated a result of ₹5,823.27 lakh, slightly higher than the ₹5,763.38 lakh recorded last year. The Project EPC segment saw significant growth, with revenue rising to ₹1,091.94 lakh from ₹750.51 lakh, and its result improving to ₹176.03 lakh from ₹99.84 lakh. Other income included a profit of ₹4.26 crore on the sale of property, plant, and equipment.

Consolidated vs Standalone Dynamics

While the standalone entity experienced margin compression, the consolidated group delivered stronger returns. Consolidated revenue rose 39% to ₹3,796.7 crore, and PAT increased 30% to ₹65.3 crore. The Wind E&C segment within the consolidated group contributed significantly, with revenue reaching ₹1,402.9 crore and results at ₹256.4 crore. Managing Director Rishi Sanghvi noted that international operations in Saudi Arabia and Botswana are gaining traction, contributing to the overall consolidated momentum. The order book expanded by 19% to ₹1,253 crore as of July 24, 2026, providing visibility for future quarters.

What the Numbers Show

The disparity between standalone and consolidated performance underscores the strategic importance of international and renewable energy ventures. While domestic standalone operations face rising cost pressures—evidenced by the 66% spike in operating expenses—the consolidated group benefits from high-margin Wind E&C projects and efficient international crane rentals. The standalone profit dip suggests that domestic crane rental margins may be under pressure from increased competition or higher input costs, whereas the diversified consolidated portfolio is successfully absorbing these shocks through growth in other segments.

Auditor Review and Compliance

MSKA & Associates LLP, the statutory auditors, conducted a limited review of the unaudited financial results and issued an unqualified conclusion for both standalone and consolidated statements. The review was performed in accordance with Standard on Review Engagements (SRE) 2410. The financial statements were prepared in compliance with Ind AS 34 and relevant SEBI regulations. The Board of Directors approved the results on July 31, 2026, pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.