Sanghvi Movers

Q1 Concall Notes:

EPC

• EPC section has begin to materialize contributed to 5% of revenue. (Secured Order for 150CRs for IPP(550 Mega Watts) : IPP who produce power and sell in the market) might expect EDITA margin of 30 to 35%, Only doing C in EPC
• Margins are lesser than Cranes
• In Here 50% of revenue will belong to cranes
• They may achieve 50 Crs on revenue in the EPC this year will be 10% of revenue
• Next year it mat be between 10% to 20% next year
• Credit period of 30 to 45 days

Cranes:

• Utilization is 84%. Historically they achieved 87% max will be 90%
• Might expect dip in utilization in next Quarter due to heavy monsoon rains yield will be 2% in Q3 & Q4
• Capex 242 Crs(23 Cranes and 6 multi axles) revised plan of 297Cr for this year
• Orderbook at 450Crs
• Sold 7 Cranes in Q1
• Receivable days may stay in 90 to 110 days
• Q4 will be the best quarter
• Payment for wind is 30Days
• Contracts are fixed price typically for 1 year. They are paid on number days in the contract even customer uses them or not. However they waive some amount in case non use due to monsoon rains
• Cash accrual for last year 234Crs
• For capex 70% from bank and 30% from internal accrual . No plans of fund raising

Others

• Debt repayment is about 75Crs for next 4 to 5 years
• Only 1.13GW wind energy is installed as for 8GW target as of June 2023

D: Invested