Sanghvi Movers Limited , recognized as India's and Asia's largest crane rental company and the world's 5th largest, has announced a strategic partnership with Action Construction Equipment Limited (ACE) through a Memorandum of Understanding formalized at EXCON 2025 on December 10, 2025.

Strategic Partnership Details

The MoU represents a significant step in SML's long-term corporate vision, ELEVATE 2030, specifically advancing its Product Portfolio Diversification initiative. Under this collaboration, SML will substantially integrate indigenously manufactured Heavy Slew Cranes, including Truck Cranes and Crawler Cranes, into its vast fleet.

Alignment with National Initiatives

This strategic collaboration directly contributes to the Government of India's Aatmanirbhar Bharat vision and the Make in India program. The partnership reflects SML's proactive approach to increase deployment of Indian-made heavy lifting equipment, thereby reducing reliance on imported assets and strengthening the country's capabilities in this capital-intensive sector.

The initiative is positioned to drive substantial import substitution, catalyze local supply chain development, and contribute to employment generation, skill development, and technology advancement within the country.

Operational Benefits and Service Enhancement

Under the MoU terms, SML will strategically and progressively expand its world-class fleet with heavy cranes manufactured by ACE. This decisive action supports domestic manufacturing and is calculated to ensure faster, cost-efficient, and more reliable project execution for SML's extensive client base across India.

ACE, in turn, is committed to providing:

• Priority product support
• Crucial customization services
• Technical solutions tailored to SML's operational demands within India's accelerating infrastructure ecosystem

Executive Perspectives

Mr. Rishi C. Sanghvi, Managing Director, Sanghvi Movers Limited, emphasized the alliance's strategic importance: "Our collaboration with ACE is a strategic enabler for sustainable growth, serving as a pillar under our ELEVATE 2030 vision. By expanding our fleet with domestically manufactured cranes, we not only reduce import dependency but also ensure superior serviceability, quicker turnaround time, and greater value creation within India's economy."

Mr. Sorab Agarwal, Executive Director, ACE, commented on the broader industry implications: "India's heavy slew cranes market has historically relied on imports. Through this partnership, we are deepening the Make in India initiative by offering world-class indigenous alternatives that deliver performance, safety, and lifecycle value. This MoU reflects our commitment to building national capability and contributing to true industrial self-reliance."

Company Profiles

Sanghvi Movers Limited

Established in 1989 and headquartered in Pune, Maharashtra, SML operates as India's and Asia's largest, and the world's 5th largest crane rental company. The company maintains an impressive operational scale:

Action Construction Equipment Limited

Established in 1995 and headquartered in Palwal, Haryana, ACE holds significant market leadership positions:

This strategic partnership positions both companies to capitalize on India's growing infrastructure development while contributing to the nation's self-reliance objectives in heavy equipment manufacturing and deployment.

Sanghvi Movers Limited , India's largest crane rental company, has reported a strong performance for the second quarter, with significant revenue growth and expansion into the Saudi Arabian market.

Financial Highlights

Sanghvi Movers achieved a total income of INR 210.00 crores in Q2, marking a 35% year-on-year increase from INR 156.00 crores in the same quarter of the previous year. The company's half-yearly revenue reached INR 483.00 crores, up 57% compared to the same period last year.

Key Performance Metrics

The company maintained a strong EBITDA margin of 42%, although it decreased from 52% in the same quarter last year. Profit After Tax (PAT) grew by 24% year-on-year to INR 36.00 crores.

Operational Performance

Sanghvi Movers reported an average capacity utilization of 70% during the quarter, with an average blended yield of 2.04% per month. The company's order book remains robust at INR 1,239.00 crores, with approximately INR 756.00 crores expected to be executed during the current fiscal year.

Saudi Arabia Expansion

In a significant development, Sanghvi Movers has commenced commercial operations in Saudi Arabia, deploying over 30 cranes. The company sees substantial growth potential in the Saudi market, with an estimated annual crane rental market of $800 million to $1 billion.

Capex Plans

The Board of Directors has approved a capex plan of INR 629.00 crores for the current fiscal year, with INR 405.00 crores allocated for India and INR 224.00 crores for Saudi Arabia. This investment aims to support the company's growth strategy and global expansion plans.

Management Commentary

Rishi Sanghvi, Managing Director of Sanghvi Movers, commented on the Saudi Arabia expansion: "We are proud to say every single asset has moved from port to site directly. Today, we are at 100% utilization in Saudi Arabia. We have a very healthy inquiry pipeline, and it is our ability to convert that inquiry pipeline."

Gaurang Desai, Chief Executive Officer, added: "We are confident of sustaining the growth guidance we have given. We are sitting on a higher base in terms of our order booking."

Outlook

Sanghvi Movers remains optimistic about its future prospects, driven by strong demand in both the Indian and Saudi Arabian markets. The company's focus on global expansion, particularly in the Middle East region, aligns with its 'Elevate 2030' strategy, which aims to strengthen customer-centric value creation and diversify its portfolio.

As Sanghvi Movers continues to capitalize on opportunities in infrastructure and renewable energy sectors, investors will be watching closely to see how the company's expansion plans translate into sustained growth and profitability in the coming quarters.