Sanghvi Movers Ltd Directors Report

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 31^st 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 Companys 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 Companys core operations and effective working capital management.

PAT:

The Profit After Tax for the financial year was Rs. 15,652 Lakhs, representing the Companys 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 arms 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 arms 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 Companys 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 32^nd annual general meeting till the conclusion of 37^th 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 companys 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 Companys 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 Companys 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 Directors 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 Companys 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 Companys 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 Companys 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 Companys 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
	https://www.sanghvicranes.com/wp-content/uploads/2023/03/Sustainable-Supply-Chain-and-Responsible-Sourcing-Policy.pdf
32	Tax Strategy Policy
	https://www.sanghvicranes.com/wp-content/uploads/2023/03/Tax-Strategy-Policy.pdf
33	Waste Management Policy
	https://www.sanghvicranes.com/wp-content/uploads/2023/03/Waste-Management-Policy.pdf

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 Companys 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, weve 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, weve 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 Companys 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 Companys 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 Companys 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