Analysts/Institutional Investor Meet/Con. Call Updates

SANGHVI MOVERS LIMITED Regd. Office: Survey No. 92, Tathawade, Taluka - Mulshi, Pune, Maharashtra - 411033, INDIA. Tel. : 020-66744700, 020-27400700 E-mail : sanghvi@sanghvicranes.com Web : www.sanghvicranes.com CIN No.: L29150PN1989PLC054143 REF: SML/SEC/SE/26-27/55 November 09, 2026 To, To, The Manager, The Manager, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Scrip Code: 530073 Symbol: SANGHVIMOV Subject: Transcript of the Earnings Conference Call on unaudited Financial Results for the quarter ended on September 30, 2026 Dear Sir/Madam, Further to our letter dated November 02, 2026, and in terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the Earnings conference call held on November 03, 2026, relating to the financial results of the Company for the quarter ended on September 30, 2026. The same is also available on the website of the Company at www.sanghvicranes.com. The above is for your information and record. Thanking you, Yours sincerely, For Sanghvi Movers Limited Vinav Agarwal Company Secretary & Chief Compliance Officer ACS: 40751 Encl.: as above “Sanghvi Movers Limited Q2 & H1 FY27 Earnings Conference Call” November 03, 2026 MANAGEMENT: MR. RISHI SANGHVI - MANAGING DIRECTOR MR. GAURANG DESAI -CHIEF EXECUTIVE OFFICER MR. PRADEEP MEHTA - CHIEF FINANCIAL OFFICER MR. ABHIJIT SAWARKAR – GROUP FINANCIAL CONTROLLER Page 1 of 15 Sanghvi Movers Limited November 03, 2026 Moderator: Good afternoon, and a warm welcome, everyone, to Q2 and H1 FY27 Earnings Call of Sanghvi Movers Limited. Please note the investor presentation and the financial results are available on the company website and the stock exchanges. Also, anything said on this call, which reflects our outlook for the future or which could be construed as a forward-looking statement must be reviewed in conjunction with the risks that the company faces. The conference call is being recorded and the transcript along with the audio of the same will be made available on the website of the company as well as on the exchanges. Please also note that the audio of the conference call is the copyright material of Sanghvi Movers Limited and cannot be copied, rebroadcasted or attributed in the press or media without specific and written consent of the company. From the management, we have with us Mr. Rishi Sanghvi, Managing Director; Mr. Gaurang Desai, Chief Executive Officer; and Mr. Pradeep Mehta, Chief Financial Officer. I would now request Mr. Pradeep Mehta, Chief Financial Officer of Sanghvi Movers Limited, to provide you with the updates for the quarter and half year ended 30th September 2026. Thank you and over to you, sir. Pradeep Mehta: Thank you, Sam and good afternoon, everyone. I will take you through the financial and operating performance for the second quarter and first half of FY27, followed by balance sheet, cash flow and capital expenditure positions. On a consolidated basis, revenue from operations for Q2 FY27 was INR277 crores, compared with INR210 crores in Q2 FY26, which representing year-on-year growth of 32%. Total income stood at INR296 crores, up by 36% year-on-year. EBITDA was INR106 crores, an increase of 20% with EBITDA margin of 36%. Profit after tax was INR40 crores, compared with INR36 crores in corresponding quarter, while cash profit stood at approximately INR78 crores. For H1 FY27, revenue from operation increased by 36% year-on-year to INR657 crores, while total income grew by 38% to rupees INR689 crores. EBITDA increased by 25% to INR245 crores with a blended margin of 36%. Profit after tax rose by 22% to INR106 crores and cash profit increased by INR181 crores. This result demonstrates healthy growth across the group, supported by the scale up of our renewables engineering and construction business and continued contribution from the crane rental business. Sequentially, Q2 revenue was lower than Q1, primarily reflecting the normal phasing of renewable project executions, the monsoon led moderation in the domestic activity and the timing of crane deployment in the Middle East. We view this largely as an execution and timing effect rather than the weakening of underlying demand environment. During H1 FY27, the group revenue mix comprised approximately 62% from crane rental, 36% from renewables engineering and construction and 2% from project EPC. For the full year, now we expect broadly 60 to 40 mix between crane rental and renewable E&C compared with earlier Page 2 of 15 Sanghvi Movers Limited November 03, 2026 expectation of approximately 2/3 and 1/3. The stronger contribution from asset-light renewable business, supports our absolute EBITDA and is accretive to return on capital employed, that is ROCE. Although even it moderates the blended reported margin percentage. In India and Botswana crane rental business, H1 total income was INR406 crores and fleet utilization stood at 78% with yield at 2.24% and EBITDA margin is 46%. The margin movement compared with FY26 reflect a high share of ancillary and externally hired equipments, crane and trailer hire service, freight and carriage, insurance and one-time incentives and the performance of project EPC segment. So all of these factors are either linked to revenue mix or are non- recurring. Importantly, the underlying crane rental franchise remains healthy and supported by strong order book and enquiry pipeline. The GCC crane rental business reported H1 total income of 39 crores, utilization of 86% and yield at 3.80%. And a positive EBITDA margin of 24%. This clearly makes a mark of an improvement from the gestation stage performance in FY26. The middle east business continues to validate the original investment thesis so higher utilization and yields above our annual expectations. Although its near term scale up has been affected by shipping constraint, port congestion and delayed delivery of the cranes. The renewable E&C business generated H1 total income of INR365 crores and EBITDA margin of approximately 14%. This business remains asset light and highly capital efficient with the ROCE of 63% on TTM basis, that is trailing 12 month basis. And we continue to expect sustainable margins to settle within our indicated range as the business scales, while execution timing and POC accounting may create some quarter over quarter variations. On order book as of 23rd October 2026 group order book stood at INR1,582 crores, which is representing growth of 26% from INR1,253 crores as reported earlier on 24th July 2026. So this comprises INR683 crores in India and Botswana, that is crane rental business and INR45 crores in GCC from crane rental, and 854 crores in renewable E&C business. The total enquiry pipeline stood around INR6,700 crores, which providing a healthy funnel across the business segments. And our working capital performance improved meaningfully during this first half of the year. Our group DSO stood at 81 days with India and Botswana crane rental around 89 days, renewables E&C is below 60 days, and GCC at 165 days. GCC DSO is reduced from 201 days in Q1 to 165 days in Q2, which reflecting our focus collection effort, and we will continue to prioritize billing discipline, certification cycle and collection. On balance sheet our balance sheet remain strong and support the next phase of growth. Consolidated net worth increased to INR1,398 crores as on 30th September and gross debt stood at INR805 crores. If we consider treasury position of INR414 crores, then resulting into net debt of INR391 crores. So, our gross debt to equity ratio is 0.58 times, which is comfortably within this FY27 ceiling of 0.72 times and our weighted average cost of borrowing is 8.28%. All other ratios are in comfortable range and cash flow conversions are healthy. Page 3 of 15 Sanghvi Movers Limited November 03, 2026 So this first half the consolidated cash flow fro [Showing first 8,000 characters — download PDF for full document]