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

Financial Results

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:

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:

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.sanehvicranes.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 sub¬
division 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 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.

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.sanehvicranes.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.sanehvicranes.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:

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.sanehvicranes.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. I n 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@sanehvicranes.com
Website: www.sanghvicranes.com