Sanghvi Movers Ltd Share Price – NSE  /  BSE

Miscellaneous, Small Cap

Sanghvi Movers announced that ICRA has reaffirmed the long-term rating at [ICRA]A+ (pronounced ICRA A plus) and short-term rating at [ICRA]A1 (pronounced ICRA A one). The Outlook on the long term rating is Stable.

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Sanghvi Movers will hold a meeting of the Board of Directors of the Company on 7 August 2024.

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Sanghvi Movers announced that ICRA has reaffirmed the long term rating at ICRA A+ and short term rating at ICRA A1. The outlook on the long term rating is Stable.

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Sanghvi Movers has received two work orders with a total value in excess of Rs. 180 crore.

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.

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