Rs 688 crore order book and FIIs & DIIs increase stake: This multibagger vehicle construction company receives orders worth Rs 166 crore from Independent Power Producers!
The stock is up by 85 per cent in just 6 months and gave multibagger returns of over 170 per cent in 1 year.
Sanghvi Movers Ltd informed that the company has secured a mammoth Rs 166 crore contract from a leading Independent Power Producers (IPP). This landmark deal encompasses diverse services including crane rental, wind turbine transportation, installation, pre-commissioning and foundation construction with sophisticated geotechnical analysis. Spanning across 24 months, the project marks a substantial contribution to India's clean energy goals, translating to 300 MW of new renewable power generation capacity.
Not only is this the largest single order in Sanghvi Movers' wind EPC history, but it also showcases a strategic revenue distribution across three financial years, starting with 3 per cent in the current year and progressively ramping up in the next two. The company extend its gratitude to our esteemed customer and its dedicated teams for making this remarkable collaboration a reality. This milestone achievement paves the way for further exciting growth in the renewable energy landscape.
Order book: Order Book as on October 01, 2023 to be executed during the period of April 01, 2023 to March 31, 2024 that is worth Rs 522 crore and including the above order, the company’s current order book stands at Rs 688 crore.
On Friday, shares of Sanghvi Movers Ltd plunged 1.65 per cent to Rs 835.90 per share with an intraday high of Rs 873.90 and an intraday low of Rs 827.95. The stock also made a new 52-week high of Rs 873.90 and its 52-week low is Rs 290.
Sanghvi Movers is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector. The company has a market cap of Rs 3,620 crore and reported excellent numbers in its Quarterly Results and annual results. As of September 2023, FIIs have increased their stake to 2 per cent from 1.64 per cent and DIIs have increased their stake to 1.77 per cent from 1.73 per cent in June 2023.
The stock is up by 85 per cent in just 6 months and gave multibagger returns of over 170 per cent in 1 year. This Small-Cap stock should be kept under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Tiny Treasure' service recommends researched small-cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.