300% Dividend, 1:2 Split: Industrial Equipment Co Bags 180 Cr Orders, Shares Rally 936% In 5-Yrs

Small cap company engaged in Industrial Equipment industry, Sanghvi Movers Ltd shares today jumped 3.57% after it informed about bagging two orders worth over 180 crore. Current market price of Sanghvi Movers share on BSE is Rs 1102.40 per share. The company has a market capitalisation of Rs 4,772.07 crore. Sanghvi Movers shares climbed 936% in last 5-years and soared 145% in last 1-year. Earlier this year on May 16, 2024, Sanghvi Movers approved 1:2 stock split and recommended final dividend of Rs 6 per equity share of the face value of Rs 2/- each. The record date for stock split and dividend is yet to declared. Check details below:

Sanghvi Movers Bags Orders: According to the BSE filing dated June 24, 2024, "Sanghvi Movers Limited has received two work orders with a total value in excess of Rs. 180 Crores:

First, a turnkey customised solution for an eminent Independent Power Producers (IPP) in the renewable energy sector. The scope includes project monitoring and engineering solutions while delivering complete mechanical (cranes, trailers, and installation and commissioning services), civil, electrical, and site management activities. The duration of this order is ten months and the majority of this order (>95%) will be executed in FY 2024-25."

Second, a new business offering, for above ground piping work, fabrication, painting and erection which includes supply of skilled manpower and tools and tackles specifically for the hydrocarbons sector. The order has been received from a diversified global EPC player and the duration is for six months, to be executed in this financial year, added the BSE filing.

Sanghvi Movers Share Performance: Sanghvi Movers shares fell over 4% in last 3-months, surged 32% in last 6-months, jumped 445% in last 2-years, and gained 468% in last 3-years. The 52-week high price of Sanghvi Movers share on BSE is Rs 1483.00 per share (as on 16/05/2024) and 52-week low price is Rs 443.90 per share (as on 26/06/2023).

Sanghvi Movers Recommended Stock Split: According to the exchange filing issued as on May 16, 2024, "approval of sub-division/split of 1 (one) equity share of the Company having nominal/face value of Rupee 2 each (Rupee two only), into 2 (Two) equity shares of Rupee 1 each (Rupee One only), subject to approval of the Members of the Company and any other regulatory authorities, if any."

Sanghvi Movers Declared Dividend Too: According to the BSE filing Sanghvi Movers issued on May 16, "recommendation of final dividend 6.00/- (300%) per equity share of Rupees 2/- each, subject to the approval by the Members of the Company at the ensuing AGM of the company."

Sanghvi Movers Financials: Sanghvi Movers declared its March 2024 quarter revenue at Rs 165.44 crore, up 30.45% as against Rs 126.82 crore announced in the corresponding quarter of last year. Sanghvi Movers announced the total income from operations for March 2024 quarter at Rs 176.87 crore as compared to Rs 131.52 crore declared in the corresponding quarter of last year. The EPS for March 2024 declared at Rs 11.03 as compared to Rs 7.84 in March 2023.

Disclaimer:

The stock highlights the new orders win and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.