SANGHVIMOV2023-10-012023-12-31 SANGHVIMOV2023-10-012023-12-31 SANGHVIMOV2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member SANGHVIMOV2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member SANGHVIMOV2023-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 530073 SANGHVIMOV NOTLISTED Sanghvi Movers Limited Equity 2023-04-01 2024-03-31 2024-02-07 2024-01-24 INR Lakhs Third quarter 12:00:00 13:15:00 2024-02-07 2024-02-07 Not applicable Single segment Crane Hiring 2023-10-01 2023-12-31 Unaudited Standalone 1670371000.00 59595000.00 1729966000.00 0.00 0.00 0.00 89960000.00 68552000.00 318707000.00 432630000.00 909849000.00 820117000.00 0.00 820117000.00 198691000.00 8668000.00 207359000.00 0.00 612758000.00 0.00 0.00 0.00 0.00 612758000.00 0.00 612758000.00 0.00 0.00 86576000.00 2 14.16 14.16 0.00 0.00 14.16 14.16 1. The above unaudited financial results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors in their respective meetings held on 07 February 2024. These unaudited financial results have been prepared in accordance with the Indian Accounting Standards ( Ind-AS ) as specified under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and Regulation 33 of the Securities Exchange Board of India (Listing Obligation and Disclosure Requirements), 2015 (as amended). 2. The Statutory Auditors of the Company have conducted limited review of unaudited financial results of the Company for the quarter and nine months ended 31 December 2023. An unqualified conclusion has been issued by them thereon. 3. The Company mainly generates its revenue by providing cranes, trailers on hire and ancillary services in India. The Chief Operating Decision Maker (CODM) reviews the operations of the company as one operating segment. Hence no separate segment information has been furnished herewith. 4. The Company had incorporated a wholly owned subsidiary namely Sanghvi Movers Vietnam Company Limited ( SML Vietnam ) in Vietnam and registered with Ministry of Planning and investment ( Ministry ) on September 16, 2021. During quarter ended December 31, 2021, the Company invested INR 26.44 Lakhs (USD 35,000) towards initial capital. Further, due to the complicated situation of COVID-19 epidemic, SML Vietnam had filed for temporary suspension of business for the period from December, 2021 to December 2022 and again for the period from December 2022 to December 2023, which was acknowledged by the Ministry. The Board of Directors of the Company in their meeting held on 07 August 2023, approved voluntary winding up of Sanghvi Movers Vietnam Company Limited, as per the applicable laws of Vietnam. 5. The Company had received notices of demand in respect of Order of Assessment of FY 2008-09, FY 2009-10, FY 2010-11, FY 2012-13, FY 2013-14, FY 2014-15, FY 2015-16, FY 2016-17 and FY 2017-18 towards VAT and CST liability treating hiring of cranes as transfer of right to use of cranes. The Company had received a favorable order for FY 2008-09 from Maharashtra Sales Tax Tribunal against which the Sales tax department had preferred an appeal in the High Court. The Honourable Bombay High Court vide its order dated 04 December 2023 held that giving cranes on hire does not involve the transfer of the right to use the cranes, as the effective control and possession always remained with the Company. Hence, the Department's appeal stood dismissed. Based on above favourable judgements and considering the nature of its business, the Company belives that it has a good case and the demands by the authorities are not tenable. 6. The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020 and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which the Code becomes effective and the related rules to determine the financial impact are published. 7. Previous period figures have been regrouped / reclassified wherever necessary to correspond with the current period classification / disclosure. Single segment 2023-04-01 2023-12-31 Unaudited Standalone 4530914000.00 167356000.00 4698270000.00 0.00 0.00 0.00 256671000.00 189815000.00 986637000.00 1384782000.00 2817905000.00 1880365000.00 0.00 1880365000.00 485567000.00 -7251000.00 478316000.00 0.00 1402049000.00 0.00 0.00 0.00 0.00 1402049000.00 0.00 1402049000.00 0.00 0.00 86576000.00 2 32.39 32.39 0.00 0.00 32.39 32.39 Operating and Other expenses 432630000.00 Operating and Other expenses 1384782000.00