The Board of Directors are pleased to present the Thirty-Sixth Annual
Report on the business and operations of the Company, along with the Audited Financial
Statements for the financial year ended 31st March 2025.
Sanghvi Movers Limited is the leading crane rental company in India,
Asia and ranks as the Fifth largest globally. The Company holds a dominant position in the
domestic crane rental industry, with an estimated market share of 40–45% overall and
60–65% in the high-capacity crane segment exceeding 400 MT. With a strong footprint
in the infrastructure, energy and construction sectors, the Company provides comprehensive
crane rental solutions, including crawler cranes and other specialized lifting equipments.
Its diversified fleet comprises cranes with lifting capacities ranging from 40 MT to 1600
MT, catering to varied applications such as industrial construction, power project
installations, wind turbine erection, and maintenance operations.
Sanghvi Movers has successfully executed several marquee projects
across India, including airports, metro rail projects, bridges, and power plants. The
Company has also provided crane services for offshore operations, including oil and gas
facilities and wind energy installations. Committed to operational excellence, the Company
maintains a modern, well-serviced fleet in line with global safety norms, supported by a
team of trained operators and technicians. In addition, it continues to expand its value
proposition by offering customized lifting solutions that help clients optimize project
timelines, reduce equipment downtime, and achieve cost efficiencies. The Board and
Management of the Company remain committed to the maintenance of a technologically
modernized, safety-compliant and operationally efficient crane fleet. This is supported by
a qualified team of operators, engineers, and technical experts to ensure high service
reliability and adherence to global best practices. Further, as part of its strategic
direction, the Company continues to enhance its value-added offerings by providing
tailored lifting solutions aimed at optimizing project execution timelines, minimizing
equipment idle time, and reducing total project costs for clients. Over the last two
years, the Company has embarked on a transformational growth trajectory, marked by the
formation of new wholly owned subsidiary companies and incorporation of an overseas
subsidiary and diversification into new business verticals. These initiatives have
substantially expanded the Company's operational scale, geographical presence and
strategic complexity. With the above brief synopsis, your Directors are pleased to present
the financial performance of the Company, for the year ended 31 March 2025:
Financial Results |
|
|
|
|
|
|
(Rs. in Lakhs) |
|
Standalone |
|
Consolidated |
Financial Results |
|
|
|
|
2024-25 |
2023-24 |
2024-25 |
| Total Income |
58,765 |
62,665 |
82,286 |
| Total Expenditure |
25,536 |
21,857 |
45,176 |
| Profit before Interest and Depreciation |
33,230 |
40,808 |
37,110 |
| Interest |
2,588 |
2,495 |
2,588 |
| Depreciation |
12,848 |
13,184 |
12,851 |
| Profit Before Tax |
17,794 |
25,129 |
21,672 |
| Provision for Taxation |
5,032 |
6,418 |
6,020 |
| Profit after Tax |
12,762 |
18,711 |
15,652 |
| Surplus brought forward from last year |
54,573 |
38,459 |
- |
| Profit available for Appropriation |
67,335 |
57,170 |
- |
Appropriations: |
|
|
|
| Transfer to General Reserves |
0 |
0 |
- |
| Dividend |
1,732 |
2,597 |
- |
| Tax on Dividend |
0 |
0 |
- |
| Surplus carried forward to Balance Sheet |
65,603 |
54,573 |
- |
Business Review
This is the first year of presenting consolidated financial statements
and hence the financial performance for the year is not comparable with the previous year.
The key highlights of the consolidated financial performance are as follows:
Revenue:
The Company recorded total revenue of Rs. 82,286 Lakhs during the
financial year under review, reflecting its continued ability to maintain market
leadership and execute operations efficiently.
EBITDA:
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)
stood at Rs. 37,111 Lakhs
Cash generated from operations:
Net cash generated from operations amounted to Rs. 28,502 Lakhs,
underscoring the strength of the Company's core operations and effective working
capital management.
PAT:
The Profit After Tax for the financial year was Rs. 15,652 Lakhs,
representing the Company's consistent focus on profitability and prudent financial
management.
Earnings per share:
During the Financial Year 2024-25, the Earnings per share was Rs. 18.08
calculated in accordance with the applicable Indian Accounting Standards (Ind AS).
Capital Expenditure:
The Company incurred capital expenditure of Rs.23,500 Lakhs during the
year towards purchase of cranes and other fixed assets.
Capacity Utilisation:
During the Financial Year 2024-25, the average capacity utilisation
stood at 73%, reflecting optimal asset utilisation and healthy demand.
Dividend
The Board has recommended Dividend Rs. 2/- per Equity Share i.e. @ 200%
on Equity Shares for the year ended 31 March 2025. The Dividend @ Rs. 2/- per Equity Share
will be paid to eligible Members, after the approval by the Members at the forthcoming
Annual General Meeting. The total cash outflow on account of dividend payments will be Rs.
1,732 Lakhs. The dividend recommended is in accordance with the Dividend Distribution
Policy of the Company, which is available on the website of the Company at
https://www.sanghvicranes.com/wp-content/
uploads/2021/09/Dividend-Distrubution-Policy_-27-May-2021. pdf.
Share Capital
The paid-up equity capital as on 31 March 2025 was Rs. 8,65,76,000/-
During the period under review, the Company has not issued shares with differential voting
rights nor granted stock options nor sweat equity.
During the year under review, the equity shares of the Company were
sub-divided from a face value of Rs. 2/- per share to Rs. 1/- per share, pursuant to the
approval of the members at Thirty-fifth Annual General Meeting held on 03 September 2024
and in accordance with the applicable provisions of the Companies Act,
2013 and SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
The Record Date for the sub-division was fixed as 27 September 2024 and
the sub-divided shares were credited to the respective demat accounts of the shareholders
within the prescribed timelines. Post sub-division, the paid-up share capital of the
Company remains unchanged at Rs. 8,65,76,000/-. The subdivision was undertaken with the
objective of enhancing liquidity and broad basing the retail shareholding in the Company.
Finance
During the year under review, the Company secured financial facilities
from Saraswat Bank, HDFC Bank, ICICI Bank, IDFC First Bank, Kotak Mahindra Bank, and
IndusInd Bank. The overall cost of borrowings was strategically optimised through active
treasury management and continuous engagement with lending partners to secure competitive
financing terms. Total Secured Long Term Loan outstanding as of 31 March 2025 were Rs.
37,626 Lakhs (as on 31 March 2024 Rs. 28,695 Lakhs). The Company is regular in its
repayment obligation with its banks.
Credit Rating
During the year, the following credit ratings were assigned to the
Company: ‘ICRA A Plus' as credit rating for long term loans and ‘ICRA
A1' as credit rating for short term loans/borrowings. The outlook on the long-term
rating is stable.
Particulars of Loans, Guarantees or Investments
The Company has not given any loans or guarantees covered under the
provisions of Section 186 of the Companies Act, 2013. The details of the investments made
by Company are given in the notes to the financial statements.
Deposits
During the year under review, the Company has not accepted any deposit
within the meaning of Sections 73 and 74 of the Companies Act, 2013 read with the
Companies (Acceptance of Deposits) Rules, 2014 (including any statutory modification(s) or
re-enactment(s) thereof for the time being in force). As of 31 March 2025 there are nil
deposits outstanding.
Conservation of Energy and Technology Absorption
The Company does not own any manufacturing facility and hence our
processes are not energy intensive. Hence particulars relating to conservation of energy
and technology absorption pursuant to provisions of Section 134 (3) (m) of the Companies
Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 are not applicable.
Foreign Exchange Earnings and Out-Go
During the year under review, there were no foreign exchange earnings
and the foreign exchange outgo amounted to Rs.155.026 Lakhs.
Accounts
The accounts read with the notes thereon are self-explanatory and hence
do not call for any explanatory statement.
Insurance
The assets of the Company including buildings, sheds, machinery,
cranes, etc. are adequately insured.
Particulars of Contracts or Arrangements with Related Parties
All related party transactions which were entered into during the
financial year were on an arm's length basis and in the ordinary course of business.
There are no materially significant related party transactions made by the Company with
Promoters, Directors, Key Managerial Personnel or other designated persons which may have
a potential conflict with the interest of the Company at large.
The statement that the transactions are at arm's length and in the
ordinary course of business is supported by a Certificate from the Managing Director. All
Related Party Transactions are placed before the Audit Committee for their approval and to
the Board, as and when required.
The policy on Related Party Transactions is uploaded on the
Company's website, i.e.
https://www.sanghvicranes.com/wp-content/uploads/2022/03/Related-Party-Transactions-Policy-English.pdf.
Material Changes and Commitments Affecting The Financial Position of
The Company Which Have Occurred Between 31 March 2025 and 20 May 2025 (Date Of The Report)
There were no material changes and commitments affecting the financial
position of the Company between the end of financial year (31 March 2025) and the date of
the Report (20 May 2025). There have been no material changes and commitments affecting
the financial position of the Company, which have occurred between the end of the
financial year of the Company to which the financial statements relate and the date of
this report.
Internal Control Systems and Their Adequacy
The Company has in place an adequate internal control system
commensurate with the size and nature of its operations. These controls are designed to
ensure efficient and effective utilisation of resources, safeguard of assets against
unauthorised use or disposition, proper authorisation and recording of transactions, and
the reliability of financial and operational information for maintaining accountability.
The internal control framework is supported by a comprehensive
programme of internal audits, periodic management reviews and well-documented policies,
procedures, and guidelines. Based on the review conducted by the management and internal
auditors, the Board is of the opinion that the internal financial controls of the Company
were adequate and operating effectively during the financial year 2024–25. These
controls provided reasonable assurance regarding the orderly and efficient conduct of
business, adherence to Company policies, safeguarding of assets, prevention and detection
of fraud and errors, accuracy and completeness of accounting records, and timely
preparation of reliable financial disclosures.
Auditors
Statutory Auditors: Pursuant to provisions of Section 139 of the Act,
the members at the annual general meeting of the Company held on 13 August 2022 appointed
M/s. MSKA & Associates, Chartered Accountants (Firm Registration No. 105047W) as
statutory auditors of the Company from the conclusion of 32nd annual general
meeting till the conclusion of 37th annual general meeting, covering one term
of five consecutive years. The statutory auditors have confirmed that they are not
disqualified from continuing as auditors of the Company.
The statutory audit report for the year 2024-25 does not contain any
qualification, reservation or adverse remark or disclaimer made by statutory auditor.
Secretarial Audit: Pursuant to the provisions of Section 204 of the
Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 and amendments and modifications thereof, the Board of Directors of
the Company has appointed M/s. Kanj & Co L.L.P., Practising Company Secretaries, to
undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit forms
part of the Annual Report.
Strategic Expansion Through New Wholly Owned Subsidiaries
As part of our forward-looking strategy to scale efficiently and expand
with focus, your Company has incorporated new wholly owned subsidiary Companies during FY
2024-25. These entities will serve as specialized growth engines, enabling sharper
execution across targeted business domains.
| Domestic Subsidiaries: |
|
|
Subsidiary Name |
Date of Incorporation |
Key Focus Area |
| Sangreen Future Renewables |
28 June 2024 |
Sangreen Future Renewables Private Limited
is in the business of providing |
| Private Limited |
|
full-fledged turnkey services to Independent
Power Producers (IPP) right |
|
|
from Conceptualization to Commissioning of
wind turbine generator (WTG). |
| Sangreen Logistics Private Limited |
03 July 2024 |
Sangreen Logistics Private Limited will
provide end to end logistic solutions |
|
|
and supply chain management in all forms
including consolidation, |
|
|
transportation (road, water, sea), handling
and distribution, warehousing |
|
|
storage and all other related activities and
to carry on the business of |
|
|
handling and dealing in cargo containers,
management of terminals and |
|
|
storage of goods of any nature at any place
or site and to act as terminal |
|
|
operators, clearing agents, tally
contractors, stevedores, bargeman, |
|
|
wharfingers, warehouseman, storekeepers,
bonded Carmen and |
|
|
cargo superintends. |
| Samo Renewables Private Limited |
12 April 2024 |
Samo Renewables Private Limited is in the
business of providing full-fledged |
|
|
turnkey services to Independent Power
Producers, waste management, |
|
|
waste to energy, waste to Fuel and waste to
Electricity. |
| Overseas Subsidiary: |
|
|
Subsidiary Name |
Date of Incorporation |
Key Focus Area |
| Sanghvi Movers Middle |
17 December 2024 |
Sanghvi Movers Middle East Limited will
carry on Construction equipment |
| East Limited |
|
rental and allied business and will cater to
the increasing market base in |
|
|
Kingdom of Saudi Arabia. |
This corporate realignment reflects our ongoing commitment to
segment-led governance, value unlocking and future-ready business structuring. These
subsidiaries are poised to operate as agile units with deep sectoral focus, complementing
our core strengths while paving the way for new revenue streams and strategic
partnerships. Each subsidiary brings with it the agility and specialization to address
distinct business needs while staying aligned with the parent company's overarching
vision.
A statement containing the salient features of the financial statements
of these subsidiaries, as required under Section 129(3) of the Companies Act, 2013, in the
prescribed Form AOC-1 part of the Annual Report. In accordance with the Regulation 16 of
SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Sangreen
Future Renewables Private Limited is a material non listed subsidiary company as on 31
March 2025. The Company has formulated a policy for determining ‘material'
subsidiaries and such policy is hosted on the Company's website i.e.
www.sanghvicranes.com.
Directors
Changes in Directors
During the Financial Year 2024-25, up to the date of this Report, the
following changes occurred in the composition of the Board of Directors and Key Managerial
Personnel of the Company:
Appointments / Re-appointments:
(As approved by the members through Postal Ballot from time to time)
• Mr. Tushar Mehendale was appointed as an Independent Director of
the Company for a period of five years with effect from 16 May 2025.
• Mrs. Madhu Dubhashi was re-appointed as an Independent Director
for a second term of five years with effect from 07 August 2024.
• Mr. Deepak Thombre was appointed as an Independent Director of
the Company a period of five year with effect from 05 December 2024.
• Mr. Amitabha Mukhopadhyay was appointed as an Independent
Director of the Company a period of five year with effect from 05 December 2024.
• Mr. Ishwar Chand Mangal was appointed as an Independent Director
of the Company a period of five year with effect from 21 March 2024.
Cessations:
• On 31 March 2024, Mr. S. Padmanabhan, Mr. Dara Damania, Mr. P.
R. Rathi and Mr. Dinesh H. Munot – Independent Directors of the Company, completed
their second term as Independent Directors of the Company.
• Mr. Sham D. Kajale resigned from the post of Joint Managing
Director and Director of the Company with effect from 19 April 2024. Mr. Sham D. Kajale
continued to work as Chief Financial Officer of the Company.
• Ms. Bhumika Batra Independent Director resigned with effect from
30 July 2024, due to personal commitments.
• Mr. Madhukar Kotwal Independent Director resigned with effect
from 14 November 2024, due to personal reasons.
The Board expresses its sincere appreciation for the valuable
contributions made by them during their tenure with the Company.
Retirement by Rotation:
• In accordance with Section 152(6) of the Companies Act, 2013,
Mrs. Maithili R. Sanghvi Non Executive Non Independent Director, is liable to retire by
rotation and being eligible, offers herself for re-appointment at the ensuing Annual
General Meeting.
Change in Key Managerial Personnel (KMP):
• Mr. Gaurang Desai was appointed as CEO with effect from 20 May
2025, in accordance with the provisions of Section 203 of the Companies Act, 2013.
The details of Director retiring by rotation, as required under
Regulation 36(3) of the SEBI (LODR) Regulations, 2015, are provided in the Notice of the
ensuing Annual General Meeting.
Declaration of Independence
The Company has received declarations from all the Independent
Directors of the Company confirming that they meet with the criteria of independence as
prescribed under sub section (6) of Section 149 of the Companies Act, 2013 and under
Regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended from time to time. As per the requirements of Rule 8(5) (iiia) of
Companies (Accounts) Rules, 2014, in the opinion of the Board, all the Independent
Directors of the Company possess the integrity, expertise and experience including the
proficiency required to be Independent Directors to effectively discharge their roles and
responsibilities in directing and guiding the affairs of the Company.
Number of Meetings of the Board
A calendar of meetings is prepared and circulated in advance to the
Directors. During the year five Board Meetings were convened and held, the details of
which are given in the Corporate Governance Report. The intervening gap between the
meetings was within the period prescribed under the Companies Act, 2013.
Audit Committee
The details pertaining to the composition, terms of reference and other
details of the Audit Committee of the Board of Directors of your Company and the meetings
thereof held during the financial year are given in the Report on Corporate Governance
section forming part of this Annual Report. The recommendations of the Audit Committee
were accepted by the Board of Directors of your Company from time to time during the year
under report.
Risk Management Committee
Pursuant to Section 134 (3) (n) of the Companies Act, 2013 and
Regulation 21 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation
2015, the Company has constituted a Risk Management Committee. The Company has a Risk
Management framework to identify, evaluate business risks and opportunities. This
framework seeks to minimize adverse impact on the business objectives and enhance the
Company's competitive advantage.
The Board of Directors of the Company has framed Risk Management Policy
to identify, evaluate business risks and opportunities. SEBI, vide notification dated 05
May 2021 has amended SEBI (Listing Obligation and Disclosure Requirements) Regulations,
2015. According to the amended listed regulations, top 1,000 listed companies based on
Market Capitalisation are required to approve Risk Management Policy. The Risk Management
Policy has been uploaded on the website of the Company at
https://www.sanghvicranes.com/policies.
Nomination & Remuneration Committee
In accordance with the provisions of Section 178 of the Companies Act,
2013 and Regulation 19 of the SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015, the Board has constituted Nomination & Remuneration Committee.
The Nomination & Remuneration Committee of the Board of Directors
of Sanghvi Movers Limited consists of five members and all of them are Independent
Directors. The Board of Directors of the Company has framed Remuneration Policy for
selection and appointment of Directors, Senior Management and their remuneration. The
Remuneration Policy has been uploaded on the website of the Company at
https://www.sanghvicranes.com/ policies.
Pursuant to the requirements of Section 178 of the Companies Act, 2013
and Company Amendment Act 2017, the salient features of the Remuneration Policy of Sanghvi
Movers Limited are as follows: a. To formulate criteria for evaluation of Independent
Directors and the Board; b. To devise a policy on Board diversity; c. To identifying
persons who are qualified to become Directors and who may be appointed in Senior
Management in accordance with the criteria laid down and recommend to the Board their
appointment and removal; d. To evaluate the Whole-Time Director's performance in the
light of established goals and objectives; e. To review and recommend the compensation for
Whole-Time Directors to the Board; f. To review and overseeing Company's employee
benefit programs; g. To carry an annual evaluation on its performance, using the
established procedures; h. To advise management on employee hiring, training, development,
deployment and motivation and internal communication and culture building.
Familiarisation Programmes for Independent Directors
According to the provisions of Regulation 25 (7) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, the Company has framed various
programmes to familiarize the Independent Directors with the Company, their roles, rights,
responsibilities in the Company, nature of the industry in which the Company operates,
business model of the Company etc. The details of such programmes have been disclosed on
the Company's website at the following link: https://www.sanghvicranes.com/ policies.
Vigil Mechanism & Whistle Blower Policy
In compliance with the provisions of the Companies Act, 2013 and
Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, the Company has implemented a Vigil Mechanism and Whistle Blower Policy. This
mechanism provides a structured channel for Directors, employees and other stakeholders to
report genuine concerns related to unethical conduct, suspected fraud, or violations of
the Company's Code of Conduct. The policy ensures that individuals can raise such
concerns without fear of retaliation to the Audit Committee for reporting serious matters.
The Audit Committee periodically reviews the effectiveness and implementation of the
mechanism to ensure transparency and accountability.
During the financial year under review, no complaints were received
under the Vigil Mechanism.
The Vigil Mechanism and Whistle Blower Policy has been uploaded on the
website of the Company at https://www.sanghvicranes. com/policies.
Policy on Succession Planning
The Company has a formal Policy on Succession planning, duly approved
by the Board of Directors of the Company. The objective of this Policy is to ensure the
orderly identification and selection of new Directors or Senior Management in the event of
any vacancy, whether such vacancy exists by reason of an anticipated retirement, an
un-anticipated departure or otherwise.
Prevention of Insider Trading
The Company has adopted a Code of Conduct for Prevention of Insider
Trading with a view to regulate trading in securities by the Directors and designated
employees of the Company. The Code requires pre-clearance for dealing in the
Company's shares and prohibits the purchase or sale of Company shares by the
Directors and the designated employees while in possession of unpublished price sensitive
information in relation to the Company and during the period when the Trading Window is
closed. The Board is responsible for implementation of the Code. All Board Directors and
the designated employees have confirmed compliance with the Code.
Policies of the Company
The key policies adopted by the Company are as follows:
No. |
Name of the Policy |
| 1 |
Policy for determining of materiality of
events, information |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/10/Persons-responsible-for-disclosure_Materiality-Policy_07082023.pdf |
| 2 |
Code of Fair Disclosure |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/SML-Revised-Code-of-Fair-Disclosure_28032019.pdf |
| 3 |
Archival Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/08/SML_Archival_policy_Final-1.pdf |
| 4 |
Code of conduct for Board of Directors and
Senior Management |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Code-of-conduct_25052016.pdf |
| 5 |
Related Party Transactions Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2022/03/Revised-draft-of-SML-RPT-Policy_Final.pdf |
| 6 |
Code of Insider Trading |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Revised-smlcodeoffairdisclosure_Nov-2020.pdf |
| 7 |
Terms of reference for Audit Committee |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/08/Terms-of-reference_AC_25052016.pdf |
| 8 |
Terms of reference for Stakeholders
Relationship Committee |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Terms-of-reference_SRC_25052016.pdf |
| 9 |
Remuneration Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Revised-SML-Remuneration-Policy.pdf |
| 10 |
Corporate Social Responsibility Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/05/CSR-Policy_24052023.pdf |
| 11 |
Vigil Mechanism and Whistle Blower Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2022/08/SML_VIGIL-MECHANISM-AND-WHISTLE-BLOWER-POLICY_Revised-1.pdf |
| 12 |
Familirisation Programme |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/SML_FPFID.pdf |
| 13 |
Terms of appointment of Independent
Directors |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Terms_of_appointment_of_Independent_Directors.pdf |
| 14 |
Non-Executive Non Independent Directors
remuneration |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Revised-SML-Remuneration-Policy.pdf |
| 15 |
Anti-Sexual Harassment Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/SML-Anti-Sexual-Harassment-Policy_WEB.pdf |
| 16 |
Dividend Distribution Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Dividend-Distrubution-Policy_-27-May-2021.pdf |
| 17 |
Risk Management Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/09/Risk-Management-Policy_27-May-2021.pdf |
| 18 |
Policy For Determination Of Material
Subsidiaries |
|
https://www.sanghvicranes.com/wp-content/uploads/2022/06/Policy-for-Determination-of-Material-Subsidiaries-English.pdf |
| 19 |
Mission Vision Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2021/10/Mission-Vision-policy_L.pdf |
| 20 |
Anti-Bribery and Anti-Corruption Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Anti-bribery-and-Anti-Corruption-Policy.pdf |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Anti-bribery-and-Anti-Corruption-Policy.pdf |
| 21 |
Conflict of Interest Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Conflict-of-Interest-Policy.pdf |
| 22 |
Cyber Security and Data Privacy Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Cyber-Security-and-Data-Privacy-Policy.pdf |
| 23 |
Environment Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Environment-Policy.pdf |
| 24 |
Equal Opportunity Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Equal-Opportunity-Policy.pdf |
| 25 |
IT E-Waste Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/IT-E-Waste-Policy.pdf |
No. |
Name of the Policy |
| 26 |
Preferential Procurement Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Preferential-Procurement-Policy.pdf |
| 27 |
Prohibition of Child and Forced Labour
Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Prohibition-of-Child-and-Forced-Labour-Policy.pdf |
| 28 |
Responsible Advocacy Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Responsible-Advocacy-Policy.pdf |
| 29 |
Stakeholders Engagement Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Stakeholders-Engagement-Policy.pdf |
| 30 |
Sustainability Policy |
|
https://www.sanghvicranes.com/wp-content/uploads/2023/03/Sustainability-Policy.pdf |
| 31 |
Sustainable Supply Chain and Responsible
Sourcing Policy |
|
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Tax Strategy Policy |
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Waste Management Policy |
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Quality, Health, Safety and Environment (QHSE)
At Sanghvi Movers Limited, the occupational health and safety of
individuals is a top priority and of paramount importance. We remain firmly committed to
the continual improvement of Quality, Health, Safety and Environment (QHSE) standards. In
line with the Company's established QHSE Policy, sustained efforts were undertaken
during the year to strengthen and enhance related practices and systems.
The Company has achieved certification of ISO 9001:2015, ISO 14001:2015
and ISO 45001:2018. Your Company provided regular safety and skill up-gradation trainings
to the employees, wherever necessary.
Business Responsibility and Sustainability Report
In terms of Regulation 34 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ("Listing Regulations") read with
relevant SEBI Circulars, new reporting requirements on ESG parameters were prescribed
under "Business Responsibility and Sustainability Report" (‘BRSR').
The BRSR seeks disclosure on the performance of the Company against nine principles of the
"National Guidelines on Responsible Business Conduct' (‘NGRBCs').
As per the SEBI Circulars, effective from the financial year 2023-24,
filing of BRSR is mandatory for the top 1000 listed companies by market capitalisation.
The BRSR Report forms an integral part of the Annual Report.
Key Managerial Personnel
Mr. Rishi C. Sanghvi, Mr. Sham D. Kajale, Mr. Gaurang Desai and Mr.
Rajesh P. Likhite were designated as Key Managerial Personnel of the Company pursuant to
Sections 2 (51) and 203 of the Companies Act, 2013 read with the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.
Corporate Social Responsibility Initiatives
In accordance with the provisions of Section 135 of the Companies Act,
2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the
Company has constituted a Corporate Social Responsibility (CSR) Committee and formulated a
CSR Policy outlining its CSR vision, objectives, focus areas, implementation framework and
monitoring mechanism. The CSR Policy is available on the website of the Company at
https:// www.sanghvicranes.com/wp-content/uploads/2023/05/CSR-Policy_24052023.pdf.
During the financial year 2024-25, we've strategically deployed
Rs. 280.33 Lakhs across high-impact social initiatives, cementing our position as a
responsible corporate citizen committed to sustainable development. Through meticulously
cultivated partnerships with twelve premier Non Government Organisations and foundations,
we've catalysed meaningful change in communities where it matters most.
During our transformative CSR journey, critical focus areas are
Healthcare, Education, Sports excellence, Agricultural innovation and Environmental
Stewardship. The Company's total CSR obligation for the year under review was Rs.
280.31 Lakhs and the same has been fulfilled entirely during the year. The details of the
CSR activities undertaken, amount spent are provided in the Annual Report on CSR
Activities forming part of this Report, in the prescribed format as specified under Rule 8
of the Companies (CSR Policy) Rules, 2014.
The Board hereby confirms that the implementation and monitoring of the
CSR Policy is in compliance with the CSR objectives and the Policy of the Company.
Directors' Responsibility Statement
In terms of Section 134 (5) of the Companies Act, 2013, the Directors
would like to state that: a. In the preparation of the annual accounts, the applicable
accounting standards have been followed. b. The Directors have selected such accounting
policies and applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state of affairs of the
Company at the end of the financial year and of the profit or loss of the Company for the
year under review. c. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of this Act
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities. d. The Directors have prepared the annual accounts on a going
concern basis. e. The Directors had laid down internal financial controls to be followed
by the company and that such internal financial controls are adequate and were operating
effectively. f. The Directors had devised proper system to ensure compliance with the
provisions of all applicable laws and that such system were adequate and operating
effectively.
Corporate Governance and Management Discussion & Analysis Reports
In compliance with Regulation 34 of SEBI (Listing Obligation and
Disclosure Requirements) Regulation 2015 and the provisions of the Companies Act, 2013,
Report on Corporate Governance with Compliance Certificate from the Practicing Company
Secretary and Management Discussion & Analysis Report are annexed and form an integral
part of Annual Report. Your Company conducts its business with integrity and high
standards of ethical behavior and in compliance with the requirements of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.
Taking into consideration crucial role of Independent Directors in bringing about good
governance, your Company continued its efforts in utilizing their expertise and involving
them in all critical decision making processes. Your Company is fully compliant with the
Corporate Governance guidelines, as laid out in SEBI (Listing Obligation and Disclosure
Requirements) Regulation 2015. All the Directors (and also the members of the Senior
Management) have affirmed in writing their compliance with and adherence to the Code of
Conduct adopted by the Company. The details of the Code of Conduct are furnished in the
Corporate Governance Report attached to this Report. The Managing Director has given a
certificate of compliance with the Code of Conduct, which forms part of the Corporate
Governance
Report, as required under SEBI (Listing Obligation and Disclosure
Requirements) Regulation 2015. The Managing Director & Chief Financial Officer
(CEO/CFO) certification as required under SEBI (Listing Obligation and Disclosure
Requirements) Regulation 2015 is attached to the Corporate Governance Report. Related
Party transactions are provided in note no. 35 of the Notes to the financial statements.
Particulars of Employees
In terms of Rule 5(2) (iii) of the of Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, it is clarified that during the
Financial Year under review, no employee of the Company was in receipt of remuneration in
that year, which in the aggregate or at a rate which in the aggregate is in excess of that
drawn by the Whole Time Directors and holds himself/ herself along with their spouse and
dependent children not less than 2% of the equity shares of the Company.
Secretarial Standards
The Company has complied with Secretarial Standards issued by the
Institute of Company Secretaries of India on Board and General Meetings.
General
The details of application made or any proceeding pending under the
Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status
as at the end of the financial year. : NIL The details of the difference between the
amount of the valuation done at the time of one-time settlement and the valuation done
while taking a loan from the Banks or Financial Institutions along with the reasons
thereof. : NIL
Reporting of Frauds
During the year under review, the Statutory Auditors, Secretarial
Auditors have not reported any instances of frauds committed in the Company by its
Officers or Employees, to the Audit Committee or Board under Section 143(12) of the
Companies Act, 2013.
Disclosure Under the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013
The Company has in place an Anti-Sexual Harassment Policy in line with
requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are
covered under this policy. Internal Complaints Committee(s) (ICC) has been set up across
all its location in India to redress complaints received regarding sexual harassment.
During the year, nil cases were reported to the Committee.
Transfer of Unpaid Dividend to Investor Education and Protection fund
(IEPF)
Pursuant to the applicable provisions of the Act, read with the IEPF
Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (‘the Rules') as
amended, all unpaid or unclaimed dividends which were required to be transferred by the
Company to the IEPF were transferred to IEPF Authority. The Company has also transferred
shares in respect of which dividend amount remained unpaid/unclaimed for a consecutive
period of Seven years or more to IEPF Authority within stipulated time.
The details of unpaid/unclaimed dividend and the shares transferred to
IEPF Authority are available on the Company's website
https://www.sanghvicranes.com/investor/investor-information.
Annual Return
Pursuant to Section 92(3) read with Section 134(3)(a) of the Companies
Act, 2013, the Annual Return for the financial year 2024-25 will be uploaded at the
website of the Company after filing with the MCA.
Appreciation
The Board extends its heartfelt gratitude to our Members, Customers,
Vendors and all Stakeholders for their unwavering support during the financial year. We
acknowledge the valuable assistance provided by Stock Exchanges, Banks, Ministry of
Corporate Affairs, State Governments, the Government of India, and various regulatory
authorities.
The Directors wish to express their deep appreciation for our employees
across all organizational levels, whose dedication, hard work and unwavering commitment
have been instrumental in driving the Company's success. Their consistent efforts and
contributions remain the cornerstone of our achievements.
For Sanghvi Movers Limited
Rishi C. Sanghvi
Chairperson & Managing Director (DIN: 08220906)
Place: Pune Date: 20 May 2025
Registered Office:
Survey No. 92, Tathawade, Taluka Mulshi, Pune 411033 CIN:
L29150PN1989PLC054143 Tel No. +91 020 27400700 E-mail: cs@sanghvicranes.com Website:
www.sanghvicranes.com
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