Sanghvi Movers Limited has informed the Exchange about Investor Presentation
SANGHVI MOVERS LIMITED Regd. Office: Survey No. 92, Tathwade Taluka - Mulshi, Pune, Maharashtra - 411 033, INDIA. Tel. : 8669674701/2/3/4, 020-71044700 E-mail : sanghvi@sanghvicranes.com Web. CIN No.: L29150PN1989PLC054143
: www.sanghvicranes.com
SANGHVI
REF: SML/SEC/ SE/ 21-22/49
Dat e : 12tt1 Novem ber 2021
By Online filing
BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 Kind Attn.: Ms. Pooja Sanghvi - Relationship Manager Ref: Code No. 530073
National Stock Exchange of India Limited, Exchange Plaza, Sandra Kurla Complex, Sandra East, Mumbai - 400051 Kind Attn.: Mr. K. Hari - Asst. Vice President Symbol: SANGHVIMOV
Sub.:
Financial Results updates
Dear Sir/Madam,
Pursuant to the requirements of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the updates on unaudited financial results for the quarter and half year ended on 30 September 2021.
You are requested to take the same on your records and further place the same on your website for the information of shareholders, investors, analysts and public at large.
The updates on unaudited financial results is also available on the Company's website i.e. www.sanghvicranes.com .
Thanks & Regards,
For Sanghvi Movers Limited
6~~
Rajesh P. Likhite Company Secretary & Chief Compliance Officer
Encl.: As above
Sanghvi Movers Limited Results Update for the period ended 30-09-2021
INDEX
Sr. 1 2 3 4 5
Particulars Financial Highlights Debt Profile Crane Fleet as on 30-09-2021 Details of Sector Wise Revenue, S. Debtors & Receivable Position etc. Disclaimer
Page Nos. 2 – 12 13 – 14 15 – 15 16 – 17 18 – 18
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
FINANCIAL HIGHLIGHTS
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
1.1 Gist of financial performance is as under –
• Total Turnover for Q2FY 22 – Rs. 70.54 Crores • PAT – Rs. 4.53 Crores • Average CU for the Q2FY 22 – 67% • Average Blended Yield for the Qtr. - 1.72% per month • Total Turnover for H1FY22 – Rs. 147 Crores • Average CU for H1 FY 22 – 71% • Average Blended Yield for H1 FY 22 – 1.65% per month • Total Debt as on 30.09.21 – Rs. 179 Crores • Net Worth as on 30.09.21 – Rs. 706 Crores • Debt : Equity Ratio as on 30.09.21 – 0.25 : 1 • Total Debt Repayment till Oct-21 – Rs. 34 Crores • Balance Repayment Obligation for FY 22 – Rs. 9 Crores • Average Cost of Borrowing – 8.64% p.a. • Capex Done in Q2 FY 22 – Rs. 25 Crores (Imported – 6 Nos. Tyre mounted
Used Cranes between 160 MT to 300 MT)
• ORDER BOOK POSITION -
Sr. Particulars 1 2 3
Order Book Position as on date Orders executed till 30-09-21 Balance Order Book to be executed During the period 01.10.21 to 31.03.22
Rs. Crores 296.00 146.00 150.00
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
PERFORMANCE REVIEW FOR THE QUARTER/PERIOD ENDED 30th SEPTEMBER, 2021
1.1 Summary of financial performance is as under -
Sr Particulars
a) b) Income from Operations c) Other Income d) Total Income (a) + (b) e) Total Expenditure f) % of PBIDT to Total Income PBIDIT c) – d) g) h) Interest i) Depreciation j) Profit Before Tax k) Tax expense (current tax + deferred tax) l) % of PAT to Total Income Profit After Tax m) n) o) p) q) r) Average Gross Yield for the period
Total Cash Accruals (PAT + Depre.) Net Worth Total Loans (Secured + Unsecured) Debt : Equity Ratio Average Capacity Utilization for the period
YTD Sept-21
Q2 FY22
(Rs. in Crores) YTD Sept-20
Q1 FY22
146.99 6.64 153.63 80.07 48% 73.56
8.55 60.22 4.79 2.78 1% 2.02
70.54 6.45 76.99 34.76 55% 42.23
4.32 29.77 8.15 3.62 6% 4.53
76.46 0.18 76.64 45.31 41% 31.33
4.23 30.45 (3.36) (0.85) N.A. (2.51)
62.24
27.94 34.30 706.34 706.34 712.21 178.83 178.83 182.29 75% 67% 0.26 0.25 1.58% 1.72%
71% 0.25 1.65%
87.79 15.60 103.39 52.00 50% 51.39
15.00 59.67 (23.28) (6.10) N.A. (17.18)
42.49 710.00 262.45 46% 0.37 1.38%
Q2 FY20
51.38 11.19 62.57 30.42 51% 32.15
7.36 30.87 (6.08) (1.77) N.A. (4.31)
26.56 710.00 262.45 53% 0.37 1.51%
1.2 Other Income for the six months’ period Sept-2021 -
Other Income of Rs. 6.64 Crores includes a sum of Rs. 5.16 Crores towards on reversal of
notional loss on Fair Value of Call Obligation w.r.t. investment in Equity Shares of Suzlon
Energy Limited (SEL) and a sum of Rs. 1.20 Crores towards Profit on Sale of Equity Shares
of SEL pursuant to the exercise of Call Option by the buyer of equity shares during the second
quarter of current financial year.
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
1.3 Investment in Equity Shares of Suzlon Energy Limited -
During the Quarter under review (Q2FY22), Company have sold entire investment in Equity Shares of Suzlon Energy Limited and booked a profit on Sale of this investment. Details of investment made by SML in Suzlon Equity shares and profit from sale of investment in these shares is as under –
Sr. 1 2 3 4 5 6 7 8
Particulars
Details
No. of equity shares allotted to SML Face Value Allotment Price Total amount invested Date of Allotment Date of Sale Amount realized from Sale of Investment Profit on Sale of these shares
th
2,44,89,500 Rs. 2.00 per share Rs. 2.45 per share Rs. 5,99,99,275 June, 2020. 27 16 August, 2021 Rs. 7,19,99,130 Rs. 1,19,99,855
th
The Company, during the quarter ended 30 June 2020 made an investment in certain equity shares of a Company and accounted for the same at its fair value on initial recognition and chose an irrevocable option to account for the subsequent changes in this financial instrument through other comprehensive income (OCI). Accordingly, the Company had recognized a gain of Rs. 746.93 lakhs and Rs. 624.38 lakhs for the quarter ended 30 June 2021 and year ended 31 March 2021 respectively, on changes in the fair value of equity instrument through OCI. Further, during the quarter ended 30 September 2020, the Company entered into a call option contract (‘written call option’) against the said investment in equity shares. Call option being a derivative instrument, any loss on fair valuation of the written call option has to be recognized in statement of profit and loss. Accordingly, the Company has recognized the loss of Rs. 739.58 lakhs and Rs. 516.73 lakhs for the quarter ended 30 June 2021 and year ended 31 March 2021 respectively, on fair valuation of call option contract in its statement of profit and loss.
The Company, during the quarter ended September 30, 2021 sold such investment in equity shares on account of exercise of call option by the option buyer. Accordingly, the Company reversed Gain earlier recognized of Rs. 756.93 lakhs and Rs 624.38 lakhs for the quarter ended 30 June 2021 and year ended 31 March 2021 through other comprehensive income. The Company also reversed loss earlier recognized of Rs. 739.58 lakhs and Rs. 516.72 lakhs for quarter ended 30 June 2021 and year ended 31 March 2021 through statement of profit and loss.
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
Quarter on Quarter Summarised Profitability Statement
51%
51%
55%
77
42
35
38
39
63
30
32
77
90
80
70
60
50
40
30
20
10
-
Q2FY 22
Q1FY 22
Q2 FY 21
Total Income
Total Expenditure (#)
PBIDT
PBIDT in (%)
56%
55%
54%
53%
52%
51%
50%
49%
48%
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
Quarter on Quarter Summarised Profitability Statement
Q2 FY 22
6
Q1 FY 22
-
71
34
76
35
5
5
Q2 FY 21
11
51
27
Total Income
Net Profit Cash Profit
Total Income
Net Profit Cash Profit
Total Income
(4)
Net Loss Cash Profit
Income From Operations
Other Income
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
80%
70%
60%
50%
40%
30%
20%
10%
0%
Capacity Utilisation
67%
75%
53%
Q2FY 22
Q1FY 22
Q2 FY 21
Capacity Utilisation
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
Blended Average Yeild p.m.
1.72%
1.58%
1.51%
Q2FY 22
Q1FY 22
Q2 FY 21
Year wise position of Total Borrowings 197
20
7
152
Q2FY 22
FY 20-21
Term Loans
Cash Credit
Unsecured Loans/Deposits
22
2
173
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1.75%
1.70%
1.65%
1.60%
1.55%
1.50%
1.45%
1.40%
250
200
i
s e r o r C n 150 t n u o m A 100
50
-
Sanghvi Movers Limited Results Update for the period ended 30-09-2021
DEBT : EQUITY RATIO
Debt : Equity Ratio
0.26
0.25
Q 2 F Y 2 2
F Y 2 0 - 2 1
Debt Repayment for Financial Year 2021-22
43
34
FY 2022
9
Total Repayment Obligation
Repayment done till 31.10.21
Balance Repayment Obligation
0.26
0.26
0.26
0.26
0.25
0.25
0.25
0.25
0.25
0.24
50
45
40
35
30
25
20
15
10
5
-
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
1.5 Balance Sheet as on -
ASSETS Non-Current Assets
Property, plant and equipment Capital work-in-progress Right of use asset Financial assets
Investment Loans Other financial assets
i) ii) iii) Non-current tax assets (Net) Total non–current assets Other non-current assets Current Assets
Inventories Financial Assets
Investments Trade Receivables Unbilled Receivables Cash and Cash equivalents Bank balance other than (iii) above Loans Other financial assets
i) ii) iii) iv) v) vi) vii) Other current assets Total Current Assets Assets classified as held for sale TOTAL ASSETS
(Rs. Crores)
30.09.21
31.03.21
785.33 0.00 0.25
0.00
0.04 1.34 6.62 812.34 18.76
832.28 0.00 0.25
0.00
0.00 1.69 5.13 846.50 7.14
4.93
7.06
0.00 72.62 23.33 0.90 2.78 0.20 0.44 10.38 119.57 3.99 931.91
12.24 56.58 24.89 1.35 0.22 0.09 0.47 5.38 111.12 2.83 957.62
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
EQUITIES & LIABILITIES Equity
Equity Share Capital Other Equity Liabilities Total Equity
Non-Current Liabilities Financial Liabilities
Borrowings i) Total Non-Current Liabilities Deferred Tax Liabilities (net) Current Liabilities
Financial Liabilities
Borrowings Trade Payables Other financial liability
i) ii) iii) Other Current Liabilities Provisions Total Current Liabilities Other Liabilities associated with assets held for sale TOTAL EQUITY & LIABILITIES
30.09.21
31.03.21 (Rs. Crores
)
8.66 706.34 697.68
8.66 709.00 700.36
128.44 138.65 10.21
148.91 157.91 9.00
50.26 14.09 5.63 6.25 1.03 86.92 9.65 931.91
47.95 16.45 11.16 8.89 0.26 90.70 6.00 957.62
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
DEBT PROFILE AS ON 30-09-2021
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
2.0 DEBT PROFILE AS ON 30-09-2021
2.1 - Break up Borrowing as on 30-09-2021
Sr.
Particulars
30.09.21
31.03.21
1 2 3
Term Loans from various Banks Working Capital Loan - Cash Credit Limit Total Borrowings Unsecured Loans Deposit from Directors
151.91 6.59 178.82 20.32
173.21 2.17 197.49 22.11
2.2 – Average Cost of Borrowings during the period
Current average cost of Borrowing is 8.64% per annum.
2.3 – Current maturities of Long Term Loans during the Year 2021-22
Term Loan Installments due within in one year i.e. in FY 2021-22 is Rs. 43 Crores, out of which
a sum of Rs. 34 Crores is already repaid by the company till date.
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
FLEET OF CRANES AS ON 30th Sept. 2021
3.0 FLEET OF CRANES AS ON 30th September 2021 –
SML has a fleet of 381 Cranes as on 30th September, 2021. The total amount of Gross Block
of Cranes as on 30th September, 2021 was Rs. 2140 Crores. Company has fleet of 242 cranes
above 100 MT capacities which constitutes 92% of our Gross Block.
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
DETAILS OF REVENUE, CLIENTS , POSITION OF S. DEBTORS, RECEIVABLE DAYS ETC.
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
4.0 DETAILS OF REVENUE, CLIENTS, POSITION OF S. DEBTORS, RECEIVABLE DAYS
4.1 Sector Wise Revenue Break Up
The Sector Wise Revenue Break up for H1 FY 2022 and H1 FY 2021 is as under –
Sr 1 2 3 4 5 6
Sector
H1 FY 2022
H1 FY 2021
Wind Mill Sector Power Sector Refinery & Gas Steel & Metal Cement Other Industries Total :-
38.00% 10.00% 16.00% 7.00% 10.00% 19.00% 100.00%
41.00% 10.00% 23.00% 8.00% 2.00% 16.00% 100.00%
4.2 Age Wise Analysis of S. Debtors Outstanding as on 30-09-2021
Particulars S. Debtors Less than 90 days S. Debtors between 91 days to 180 days S. Debtors between 181 days to 360 days S. Debtors 361 days and above (net of Provision for Doubtful debts) Average Receivable Days (net of GST amount included in Debtors) Reported S. Debtors as per financials
Sr 1 2 3 4 5 6
Rs. Crores
82.31 9.06 4.57 Nil 95.94 98 days
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Sanghvi Movers Limited Results Update for the period ended 30-09-2021
Disclaimer:
This presentation contains certain forward looking statements concerning Sanghvi Movers Limited’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition and economic growth in India. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company. No part of this presentation shall be reproduced, copied, forwarded to any third party either in print of in electronic form without prior express consent of the company.
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