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ICRA reaffirms ratings of Sanghvi Movers’ bank facilities

16 Dec 2013 Evaluate

Credit rating agency, ICRA has reaffirmed the ‘A’ rating assigned to the Rs 461.43 crore term loan facilities and Rs 100 crore fund-based cash credit facilities of Sanghvi Movers. The outlook on the long-term rating has been revised to ‘Negative’ from ‘Stable’. Moreover, the rating agency has also reaffirmed the A2+ rating assigned to the Rs 25.0 crore short term fund based facilities and Rs 365 crore short term non-fund based facilities of the company.

The revision in outlook from Stable to Negative takes into consideration decline in revenues, moderation in profitability and cash accruals during H1 FY14 on account of declining rental yields owing to increasing competitive intensity as well as lower capacity utilization level owing to slowdown in infrastructure segment.

Sanghvi Movers is one the largest crane hiring company in India and third largest in Asia. It caters various sectors such as wind power, steel, power, refinery, cement, metals, construction and paper.

Sanghvi Movers Share Price

304.25 3.30 (1.10%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
BEML 1771.10
Action Const. Equip 916.35
Sanghvi Movers 304.25
TIL 206.55
Brady & Morris Engg 828.40
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