Multibagger Small Cap Stock Receives Order Worth Rs 150 Crores, Scrip Up 777.85% In 3 Years

Sanghvi Movers Limited, a small cap company, in an exchange filing on Jul 10, 2023, informed that it has received work orders aggregating to Rs 150 Crores from eminent Independent Power Producers (IPP) in the renewable energy sector. The order is for providing crane rental services along with allied services comprising of WTG surface logistics, inter-carting, installation & pre-commissioning of WTGs, development of wind farm and storage yard.

Receivered work orders aggregating to Rs 150 Crores

In a regulatory filing, Sanghvi Movers Limited said, "We are pleased to inform you that Sanghvi Movers Limited has received work orders aggregating to Rs. 150 Crores from eminent Independent Power Producers (IPP) in the renewable energy sector, for providing crane rental services along with allied services comprising of WTG surface logistics, inter-carting, installation & pre-commissioning of WTGs, development of wind farm and storage yard. Crane services account for approximately 50% of the total contract value and the balance accounts for the aforementioned activities under wind EPC services. These contracts are of 18 months duration starting from April-23 and ending in October-24. Out of total contract value, ~ 44% of contract value will be executed in current financial year i.e. FY 2023-24 and the balance will be completed in FY 2024-25. The total order value translates to 539 MW of new capacity addition by our esteemed customers. We would like to thank our customers and Sanghvi teams for securing these new order wins."

Stock Movement

On Wednesday, the shares of Sanghvi Movers closed 1.59% higher at Rs 576.75 apiece. It was opened at Rs 580 apiece, while the previous close was 567.70 apiece.
The stock jumped 12.78% in the past 1 week, and 21.63% in the past 2 weeks. In the past 1 month, it jumped 22.27%. In the past 3 and 6 months, it gave 53.64% positive return and 69.28% positive return, respectively.

It gave 153.96% multibagger return in the past 1 year. In the past 2 years, it gave 177.42% positive return. In the past 3 years, it gave 777.85% positive return. In the past 5 years, it gave 220.06% positive return.

The company has a market capitalisation of Rs 2,496.64 Crore.

About - Sanghvi Movers Limited

Sanghvi Movers Limited (SML) is the largest crane rental company in India and Asia, and the sixth-largest in the world as ranked by International Cranes (June 2023). Headquartered in Pune, SML was incorporated in 1989 and went through an Initial Public Offering in 1994. The shares of the company are traded on the Bombay Stock Exchange and National Stock Exchange. SML is an ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 certified company. The Company has a fleet of 400+ medium to large sized heavy duty telescopic and crawler cranes ranging from 20 to 1000 MT across 130+ operational job sites in India, account the company's official website.