Sanghvi Movers Ltd. India’s leading crane hiring company, today announced its audited financial results for the fourth quarter and full year ended 31st March 2010.
For year-ended 31st March 2010, Net Sales stood at Rs 328.76 crore as against Rs 354.68 crore corresponding period last year ending 31st March 2009. Profit After Tax (PAT) stood at Rs 90.42 crore as against Rs 101.05 crore from the corresponding period last year. Earnings per Share (EPS) for FY2010 worked out to be Rs 20.89, as compared to Rs 23.34 for FY2009.
Q4FY10 Performance:
For the fourth quarter ending 31st March 2010, Net Sales is at Rs 85.36 crore as against Rs 94.00 crore for the corresponding quarter last year. PAT is at Rs 24.92 crore as against Rs 25.60 crore for the corresponding quarter last year, a 2.66 per cent decrease. Earnings per Share (EPS) for Q4FY2010 worked out to be Rs 5.76, as compared to Rs 5.91 for Q4FY2009.
Dividend:
The board of directors has recommended a dividend of Rs 3 per share for the year ended 31st March 2010, subject to approval of the share holders.
Capital Expenditure:
The company has incurred capital expenditure of Rs 160 crore for the year ended 31st March 2010.
Management Comment:
Commenting on the company’s performance, Mr. C.P. Sanghvi, Chairman and Managing Director, said “We foresee excellent opportunities in the Power Sector in the coming quarters. We have geared up to grab those opportunities.”
About Sanghvi Movers Ltd.: (BSE Code: 530073) (NSE Code: SANGHVIMOV)
Sanghvi Movers Limited (SML) (BSE: 530073; NSE: SANGHVMOV), the largest crane hiring and engineering company in India and 9th largest in the world, provides medium sized heavy duty world class cranes on rental basis for various infrastructure and core projects. The company has a fleet of more than 326 hydraulic and crawler cranes with lifting capacity ranging from 20 MT to 800 MT and a strong regional network with depots across Nagpur, Chennai, Pune, Bangalore, Bharuch, Jamnagar, Gadag, Cuttack and Delhi. SML’s client list includes Reliance Industries, Reliance Energy, Enercon, BHEL, NTPC, Lanco, Aditya Birla Group, Vedanta Group, Tata Steel, L&T and Suzlon.
