You are here » Home » Companies » Company Overview » Sanghvi Movers Ltd

Sanghvi Movers Ltd.

BSE: 530073 Sector: Engineering
BSE 00:00 | 05 Jul 218.70 -9.15






NSE 00:00 | 05 Jul 218.30 -9.95






OPEN 227.50
52-Week high 262.00
52-Week low 150.00
P/E 32.16
Mkt Cap.(Rs cr) 947
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 227.50
CLOSE 227.85
52-Week high 262.00
52-Week low 150.00
P/E 32.16
Mkt Cap.(Rs cr) 947
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sanghvi Movers Ltd. (SANGHVIMOV) - Director Report

Company director report

Your Directors take pleasure in presenting the Thirty-second Annual Report on thebusiness and operations of the Company together with Audited

Financial Statements of the Company for the year ended 31st March 2021.

The year under review would be remembered as a really challenging year with unfavorablemacros slowdown in infrastructure activities weak market liquidity and then the finalblow with the unprecedented COVID-19 pandemic which majorly disrupted the economicactivities not only in India but across the world.

The economic situation of the Country was adversely impacted during the mandatorylockdown period and it includes the sectors in which your Company is operating. YourCompany believes that with its strong foundation and stakeholders' support including itsloyal customers employees vendors and bankers it will be able to overcome the challengesand continue to maintain its market leadership position in the relevant market segmentsably supported by the various customer connect initiatives put in place by the Company.

With the above brief synopsis your Directors are pleased to present the financialperformance of the Company for the year ended31 st March 2021:


(Rs. in Lakhs)

Financial Results 2020-2021 2019-2020
Total Income 25302.94 32620.07
Total Expenditure 13658.20 16614.48
Profit before Interest and Depreciation 11644.74 16005.59
Interest 2629.60 4103.44
Depreciation 12210.18 14037.76
Profit Before Tax (3195.04) (2135.61)
Provision for Taxation (952.75) (1475.26)
Profit after Tax (2242.29) (660.34)
Surplus brought forward from last year 28155.33 28815.67
Profit available for Appropriation 25913.04 28155.33
Transfer to General Reserves 0.00 0.00
Dividend 0.00 0.00
Tax on Dividend 0.00 0.00
Surplus carried forward to Balance Sheet 25913.04 28155.33


During the year under report your Company generated revenue of Rs. 25302.94 Lakhs(previous year: Rs. 32620.07 Lakhs). Outbreak of COVID-19 pandemic had caused severeeconomic and social disruptions and had a severe impact not only on the global economy butIndian economy also.

The business environment during the year was extremely challenging because of thepandemicwhichhadaffectedthefinancialperformance of the company. The Company pivotedsmartly to address these dynamic challenges demonstrating agility and speed in adapting tothe ‘new normal' by resuming operations expeditiously. With safety and wellbeing ofthe Company's employees partners and associates accorded paramount importance theCompany instituted the highest standards of hygiene and safety protocols across all nodesof operations. Relentless focus on cost reduction across Businesses aided in partiallymitigating the impact of negative operating leverage. While sequential pick-up inCompany's operations in the second half of the year mitigated the impact the disruptionsin the first half weighed on the overall performance for the year. The Company hasachieved an average capacity utilization of 56% in FY 2020-21 as against 72% in FY2019-20.


Your Company has been earning regular income from the business of power generation from5.05 MW windmills installed in Jaisalmer Rajasthan and

Chitradurga Karnataka. Total Income earned out of Wind Power Generation was Rs.124.50Lakhs. During the year 2020-21 the windmills installed in

Jaisalmer Rajasthan and Chitradurga Karnataka were sold by the Company and therebycompany exited from this business.


In view of the losses the Board of Directors expresses its inability to recommend anydividend on equity shares for the year under review.


The paid up equity capital as on 31st March 2021 was Rs. 86576000/-.During the period under review the Company has not issued shares with differential votingrights nor granted stock options nor sweat equity.


During the year under review the Company has availed financial assistance from HDFCBank and State Bank of India. The costs of borrowings availed from these banks areconstantly been optimised through proactive financial management coupled with negotiationswith

Term Loan outstanding as of 31st March 2021 was Rs. 17321 Lakhs (as on 31stMarch 2020 Rs. 28222 lakhs). During the year under review your Company has reduced itsborrowings by Rs. 10901 lakhs. The Company is regular in its repayment obligation withits banks.


During the year the following credit ratings were assigned to the Company:

‘ICRA A-' as credit rating for long term loans and ‘ICRA A2+' as creditrating for short term loans/borrowings. The outlook on the long-term rating has beenrevised to stable from negative.


The Company has not given any loans or guarantees covered under the provisions ofSection 186 of the Companies Act 2013. The details of the investments made by Company aregiven in the notes to the financial statements.


During the year under review the Company has not accepted any deposit within themeaning 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-31stMarch 2021 there are no fixed deposits outstanding.


The Company does not own any manufacturing facility and hence our processes are notenergy intensive. Hence particulars relating to conservation of energy and technologyabsorption pursuant to provisions of Section 134 (3) (m) of the Companies Act 2013 readwith Rule 8 of the Companies (Accounts) Rules 2014 are not applicable.


During the year under review there were no foreign exchange earnings and the foreignexchange outgo amounted to Rs. 244.41 Lakhs.


The accounts read with the notes thereon are self-explanatory and hence do not call forany explanatory statement.


The assets of the Company including buildings sheds machinery cranes etc. areadequately insured.


All related party transactions which were entered into during the financial year wereon an arm's length basis and in the ordinary course of business. There are no materiallysignificant related party transactions made by the Company with Promoters Directors KeyManagerial Personnel or other designated persons which may have a potential conflict withthe interest of the Company at large.

The statement that the transactions are at arm's length and in the ordinary course ofbusiness is supported by a Certificate from the Managing Director.

All Related Party Transactions are placed before the Audit Committee for their approvaland to the Board as and when required. The policy on Related Party Transactions isuploaded on the Company's website i.e.


There were no material changes and commitments affecting the financial position of theCompany between the end of financial year (31 st March 2021) and the date ofthe Report (27th May 2021). There have been no material changes and commitmentsaffecting the financialposition of the Company which have occurred between the end of thefinancial year of the Company to which the financial statements relate and the date ofthis report.


The Company has an adequate system of internal control commensurate with its size andnature of business to ensure that the resources of the Company are used efficiently andeffectively all assets are safeguarded and protected against loss from unauthorized useor disposition and the transactions are authorised recorded and reported correctlyfinancial and other data are reliable for preparingfinancialinformation and other data andfor maintaining accountability of assets. The internal control is supplemented byextensive programme of internal audits review by management documented policiesguidelines and procedures.

The Audit Committee and Board is of the opinion that the Company's internal financialcontrols were adequate and effective during Financial year 2020-21 for ensuring theorderly and efficient conduct of its business including adherence to the Company'spolicies the safeguarding of its assets the prevention and detection of frauds anderrors the accuracy and completeness of accounting records and timely preparation ofreliable Financial disclosures.


Statutory Auditors: M/s. B S R & Co. LLP Chartered Accountants (FirmRegistration No. 101248W/W-100022) have been Statutory Auditors of the Company since thefinancial year 2011-12. In terms of provisions of Section 139 of the Act a listed companycannot appoint an audit firm as Auditors for more than two terms of five consecutiveyears. M/s. B S R & Co. LLP will be completing ten years as Auditors of the Companyat the conclusion of the forthcoming

Thirty-second Annual General Meeting and would retire therefrom.

M/s. MSKA & Associates. Chartered Accountants (Firm Registration No. 105047W) isproposed to be appointed as Statutory Auditors of the Company for a period of five yearscommencing from the conclusion of Thirty-second Annual General Meeting till the conclusionof the Thirty-seven Annual General Meeting. M/s. MSKA & Associates CharteredAccountants have consented to the said appointment and confirmed that their appointmentif made would be within the limits Specified under Section 141(3) (g) of the Act. Theyhave further confirmed that they are not disqualified to be appointed as StatutoryAuditors in terms of the provisions of the proviso to Section 139(1) Section 141(2) andSection 141(3) of the Act and the provisions of the Companies (Audit and Auditors) Rules2014. A resolution seeking their appointment forms part of the Notice convening theThirty-second Annual General Meeting and the same is recommended for your approval.

Secretarial Audit: Pursuant to the provisions of Section 204 of the Companies Act2013 and the Companies (Appointment and Remuneration of

Managerial Personnel) Rules 2014 and amendments and modifications thereof the Boardof Directors of the Company has appointed M/s. Kanj & Co L.L.P. Practising CompanySecretaries to undertake the Secretarial Audit of the Company. The Report of theSecretarial Audit is annexed herewith as "Annexure A".


As on the date of the report the Company does not have any subsidiary.



Mr. Sham D. Kajale has done his Master's in Commerce and is the Associate Member of theInstitute of Cost Accountants of India. Mr. Sham D. Kajale is working with the companysince last 26 years and has been looking after Corporate Finance Accounts LegalTaxation and other administrative functions. He will continue to hold his position asJoint Managing Director & CFO of the Company.


The Members at Thirty-first Annual General Meeting held on 25 September 2020 approved:

Appointed Mrs. Madhu Dubhashi as an Independent Director to hold office for first termof five years upto 07 August 2024;

Re-appointed Mr. Madhukar V. Kotwal as an Independent Director to hold office for asecond term upto 31 March 2026;

Re-appointed Mr. Sham D. Kajale as Joint Managing Director & CFO for a period offive years upto 01 September 2025.


The Company has received declarations from all the Independent Directors of the Companyconfirming that they meet with the criteria of independence as prescribed under subsection (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 timeto time. As per the requirements of Rule 8(5) (iiia) of Companies (Accounts) Rules 2014in the opinion of the Board all the Independent Directors of the Company possess theintegrity expertise and experience including the proficiency required to be IndependentDirectors to effectively discharge their roles and responsibilities in directing andguiding the affairs of the Company.


A calendar of meetings is prepared and circulated in advance to the Directors. Duringthe year five Board Meetings were convened and held the details of which are given in theCorporate Governance Report. The intervening gap between the meetings was within theperiod prescribed under the Companies Act 2013.


The details pertaining to the composition terms of reference and other details of theAudit Committee of the Board of Directors of your Company and the meetings thereof heldduring the financial year are given in the Report on Corporate Governance section formingpart of this Annual Report. recommendations of the Audit Committee were accepted by theBoard of Directors of your Company from time to time during the year under report.


Pursuant to Section 134 (3) (n) of the Companies Act 2013 and Regulation 21 of theSEBI (Listing Obligation and Disclosure Requirements) Regulation 2015 the Company hasconstituted a Risk Management Committee. The Company has a Risk Management framework toidentify evaluate business risks and opportunities. This framework seeks to minimizeadverse 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 identifyevaluate business risks and opportunities. SEBI vide notification dated 05 May 2021 hasamended SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015. Accordingto the amended listed regulations top 1000 listed companies based on MarketCapitalisation are required to approve Risk Management Policy. In accordance with theamendments in SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015 theBoard of Directors in their meeting held on 27 May 2021 approved the amendment in RiskManagement Policy and the amended Risk Management Policy has been uploaded on the websiteof the Company at


In accordance with the provisions of Section 178 of the Companies Act 2013 andRegulation 19 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations2015 the Board has constituted Nomination & Remuneration Committee.

The Nomination & Remuneration Committee of the Board of Directors of Sanghvi MoversLimited consists of three members and all of them are Independent Directors. Mr. PradeepR. Rathi – Chairman Mr. S. Padmanabhan and Mr. Dara Damania as members of theCommittee.

The Board of Directors of the Company has framed Remuneration Policy for selection andappointment of Directors Senior Management and their remuneration. The RemunerationPolicy has been uploaded on the website of the Company at

Pursuant to the requirements of Section 178 of the Companies Act 2013 and CompanyAmendment Act 2017 the salient features of the Remuneration Policy of Sanghvi MoversLimited are as follows:

a. To formulate criteria for evaluation of Independent Directors and the Board; b. Todevise a policy on Board diversity; c. To identifying persons who are qualified to becomeDirectors and who may be appointed in Senior Management in accordance with the criterialaid down and recommend to the Board their appointment and removal; d. To evaluate theWhole-Time Director's performance in the light of established goals and objectives; e. Toreview and recommend the compensation for Whole-Time Directors to the Board; f. To reviewand overseeing Company's employee benefit programs; g. To carry an annual evaluation onits performance using the established procedures; h. To advise management on employeehiring training development deployment and motivation and internal communication andculture building; i. Recommend to the board all remuneration in whatever form payableto senior management.


Due to novel coronavirus pandemic and extended lockdowns imposed by the Government ofIndia the business operations of the company were impacted. The Board of Directors at itsmeeting held on 13 August 2020 has reviewed recommendations of the Nomination andRemuneration Committee and approved the revision in the remuneration of Managing Directorand Joint Managing Director & CFO of the Company with effect from 01 May 2020:

• The monthly remuneration of Mr. Rishi C. Sanghvi - Managing Director was reducedby 50 percent;

The monthly remuneration of Mr. Sham D. Kajale - Joint Managing Director & CFO wasreduced by 35 percent.

However with improvement in business operations the Board of Directors at its meetingheld on 11 February 2021 has reviewed recommendations of the Nomination and RemunerationCommittee and approved the reinstatement of the remuneration of Managing Director andJoint Managing Director & CFO of the Company.


According to the provisions of Regulation 25 (7) of the SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 the Company has framed various programmes tofamiliarize the Independent Directors with the Company their roles rightsresponsibilities in the Company nature of the industry in which the Company operatesbusiness model of the Company etc. The details of such programmes have been disclosed onthe Company's website at the following link:


The Company in accordance with the provisions of the Companies Act 2013 and Regulation22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 hasestablished a Vigil Mechanism and Whistle Blower Policy which provides a formal mechanismfor all Directors employees and other stakeholders of the Company to report to themanagement their genuine concerns or grievances about unethical behaviour actual orsuspected fraud and any violation of the Company's Code of conduct or ethics policy. Thepolicy also provides a direct access to the Chairman of the Audit Committee to makeprotective disclosures to the management about grievances or violation of the Company'sCode of Conduct.

The functioning of the Vigil Mechanism is reviewed by the Audit Committee from time totime. During the year nil complaints were received. The policy is disclosed on theCompany's website in the following link:


The Company has a formal Policy on Succession planning duly approved by the Board ofDirectors of the Company. The objective of this Policy is to ensure the orderlyidentification and selection of new Directors or Senior Management in the event of anyvacancy whether such vacancy exists by reason of an anticipated retirement anun-anticipated departure or otherwise.


The Company has adopted a Code of Conduct for Prevention of Insider Trading with a viewto regulate trading in securities by the Directors and designated employees of theCompany. The Code requires pre-clearance for dealing in the Company's shares and prohibitsthe purchase or sale of Company shares by the Directors and the designated employees whilein possession of unpublished price sensitive information in relation to the Company andduring the period when the Trading Window is closed. The Board is responsible forimplementation of the Code. All Board Directors and the designated employees with theCode. haveconfirmed


The key policies adopted by the Company are as follows:

Sr. No. Name of the Policy
1 Policy for determining of materiality of events information
2 Code of Fair Disclosure
3 Archival Policy
4 Code of conduct for Board of Directors and Senior Management
5 Related Party Transactions Policy
6 Code of Insider Trading
7 Terms of reference for Audit Committee
8 Terms of reference for Stakeholders Relationship Committee
9 Remuneration Policy
10 Corporate Social Responsibility Policy
11 Vigil Mechanism and Whistle Blower Policy
12 Familirisation Programme
13 Terms of appointment of Independent Directors remuneration
14 Non-Executive Non Independent Directors remuneration
15 Anti-Sexual Harassment Policy
16 Dividend Distribution Policy
17 Risk Management Policy

The policies are available on the website of the Company


At Sanghvi Movers Limited Occupational Health and Safety of people is of the highestpriority and of utmost importance and we are committed to continual improvement inQuality Health Safety and Environment and necessary efforts were made in this directionin line with the Quality Safety Health and Environment Policy laid down by the Company.The Company has achieved certification of ISO 9001:2015 ISO 14001:2015 and ISO45001:2018. Your Company provided regular safety and skill up-gradation trainings to theemployees wherever necessary.


Mr. Rishi C. Sanghvi Mr. Sham D. Kajale and Mr. Rajesh P. Likhite were designated as"Key Managerial Personnel" of the Company pursuant to Sections 2 (51) and 203 ofthe Companies Act 2013 read with the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014.


The Board of Directors of the Company have constituted the Corporate SocialResponsibility Committee (CSR Committee) comprising of Mr. Dara Damania Chairman Mr. SPadmanabhan and Mrs. Maithili R. Sanghvi as Members of the Committee as per therequirement of the Section 135 of the Companies Act 2013 read with the Companies(Corporate Social Responsibility Policy) Rules 2014. The said Committee has formulatedthe CSR Policy indicating the activities to be undertaken by the Company monitoring theimplementation of the frame work of the CSR Policy and recommending the amount to be spenton CSR activities.

Ministry of Corporate Affairs vide its notification dated 22 January 2021 amendedSection 135 of Companies Act 2013 and CSR Policy Rules

2021. Accordingly the amended CSR Policy has been uploaded on the website of theCompany and is available on the following link:

In the financial year 2020-21 the Company has a negative average net profit and hencenegative CSR contribution at 2% of average net profit in the financial year 2020-21 andtherefore the Company is not required to spend anything on CSR. As there are no averagenet profits for the Company during the previous three financial years no funds were setaside and spent by the Company towards Corporate Social Responsibility during the yearunder review. Your Company wishes to inform all stakeholders that it is well aware of itsresponsibility towards fulfilling its Corporate Social Responsibility (CSR). In the lastthree financial years the Company has not posted any profits. Nevertheless your Companyis committed to build its CSR capabilities on a sustainable basis. Looking forward yourCompany will undertake CSR activities to meet any unspent amount as and when the cash flowand liquidity permits. In light of the economic and health crisis caused due to theongoing global COVID-19 pandemic your Company is even more determined to fulfill any CSRobligations on a long term and viable basis.


In terms of Section 134 (5) of the Companies Act 2013 the Directors would like tostate that: a. In the preparation of the annual accounts the applicable accountingstandards have been followed. b. The Directors have selected such accounting policies andapplied them consistently and made judgments and estimates that were reasonable andprudent so as to give a true and fair view of the state of affairs of the Company at theend of the financial year and of the profit or loss of the Company for the year underreview. c. The Directors have taken proper and sufficientcare for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe 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. TheDirectors had laid down internal financial controls to be followed by the company and thatsuch internal financial controls are adequate and were operating effectively. f. TheDirectors had devised proper system to ensure compliance with the provisions of allapplicable laws and that such system were adequate and operating effectively.


In compliance with Regulation 34 of SEBI (Listing Obligation and DisclosureRequirements) Regulation 2015 and the provisions of the Companies Act

2013 Report on Corporate Governance with Compliance Certificate from the PracticingCompany Secretary and Management Discussion & Analysis Report are annexed and form anintegral part of Annual Report. Your Company conducts its business with integrity and highstandards of ethical behavior and in compliance with the requirements of SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 as amended from time to time.

Taking into consideration crucial role of Independent Directors in bringing about goodgovernance your Company continued its efforts in utilizing their expertise and involvingthem in all critical decision making processes. Your Company is fully compliant with theCorporate Governance guidelines as laid out in SEBI (Listing Obligation and DisclosureRequirements) Regulation 2015. All the Directors (and also the members of the SeniorManagement) have affirmed in writing their compliance with and adherence to the Code ofConduct adopted by the Company. The details of the Code of Conduct are furnished in theCorporate Governance Report attached to this Report. The Managing Director has given acertificate of compliance with the Code of Conduct which forms part of the CorporateGovernance Report as required under SEBI (Listing Obligation and Disclosure Requirements)Regulation 2015. The Managing Director / Joint Managing Director & Chief FinancialOfficer (CEO/CFO) certification as required under SEBI (Listing Obligation and DisclosureRequirements) Regulation 2015 is attached to the Corporate Governance Report. RelatedParty disclosures/transactions are detailed in note no. 23 of theNotestothefinancialstatements.


Statutory Auditors: There are no qualifications reservations adverse remarks ordisclaimers made by B S R & Co LLP Statutory Auditors.

Secretarial Auditor: The Company has transferred the unpaid dividend of FY 2012-13 toIEPF and is in the process of transfer of equity shares to IEPF Authority.


In terms of Rule 5(2) (iii) of the of Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 it is clarified that during the Financial Year underreview no employee of the Company was in receipt of remuneration in that year which inthe aggregate or at a rate which in the aggregate is in excess of that drawn by the WholeTime Directors and holds himself/ herself along with their spouse and dependent childrennot less than 2% of the equity shares of the Company.


The Company has complied with Secretarial Standards issued by the Institute of CompanySecretaries of India on Board and General Meetings.


During the year under review the Statutory Auditors Secretarial Auditors have notreported any instances of frauds committed in the Company by its Officers or Employees tothe Audit Committee or Board under Section 143(12) of the Companies Act 2013.


The Company has in place an Anti-Sexual Harassment Policy in line with requirements ofthe Sexual Harassment of Women at Workplace (Prevention Prohibition and Redressal) Act2013. All employees (permanent contractual temporary trainees) are covered under thispolicy. Internal Complaints Committee(s) (ICC) has been set up across all its location inIndia to redress complaints received regarding sexual harassment. During the year nilcases were reported to the Committee.


Pursuant to the provisions of Section 124 (5) of the Companies Act 2013 UnpaidDividend which remains unpaid or unclaimed for a period of seven years shall betransferred by the company to Investor Education and Protection Fund. Accordingly theCompany has transferred the unpaid dividend for F.Y. 2012-13 of Rs. 170446/- to InvestorEducation and Protection Fund. The details of the unpaid dividend transferred areavailable on the website of the company


Pursuant to Section 92(3) read with Section 134(3)(a) of the Companies Act 2013 theAnnual Return for the financial year 2020 2021 will be uploaded at the website of theCompany after filing with the MCA.


As required under Regulation 34(2) (f) of SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 the Business Responsibility Report is provided in aseparate section and forms part of the Annual Report.


During the last quarter of the year under review the incidence of COVID-19 developedinto a global pandemic. The Directors have assessed the impact of

COVID-19 on the business at the balance sheet date and there are no significant changesas of the balance sheet date. The Company continues to provide the services to itscustomers although some parts of the business have been disrupted due to the currentlockdown conditions in most part of the world including India. Due to the worldwideuncertainty caused by COVID-19 and its potential to impact the Company the Company hasput in place mitigation plans to minimize the adverse impact on both revenue andprofitability. However at this juncture it is difficult to assess the overall impact onthe economy and your Company.


In Sanghvi Movers Limited safety well-being and security of people has always been ofutmost importance. Employees had to embrace new and ways of working such as ‘workfrom home' and have been subject to stresses fears and anxieties never experiencedbefore. As a result of COVID-19 the dependence on IT increased substantially because ofthe remote working conditions.

Implementation of Work from Home (WFH) Policy: Since the beginning of Covid-19Sanghvi Movers Limited strictly adhered to the norms laid down by Central GovernmentStatement Government Municipal Corporations etc. We have provided the laptops to theofficials of the Company. During the lock down period we were working from home in thebeginning and got accustomed to the same. Since the second wave and many surge in caseswe continue to work from home.

Social Distancing: Since Sanghvi Movers Limited have a huge campus of six acres andwith full infrastructure upkeep to the medical norms laid down.

We ourselves sanitise the place once in every day covering all the office premises. Wehave also ensured the minimum distance between two members is more than six meters.Ensured different punch timing for different departments. Canteen stands closed sinceMarch 2020 and no sharing of food has been allowed. We have also restricted visitors tothe office and encouraged online meeting.

Information Technology initiatives: We have provided the laptops desktops andwireless dongles to the officials of the Company. We have also set whatsApp group for anydifficulties to resolve remote working issues. The IT team has provided real time supportto all employees.

Tie up with Hospital: The Company has a tie up with the hospital for any symptomsof Covid patients and we have one on one connect and contact tracing for all members ifthey were tested Positive.

Other initiatives:

Conducted mass Covid Testing (RTPCR testing) camp for all the staff members inSeptember 2020;

Regular sanitization at office premises for the safety and hygiene of staff members;

Anti-Viral surface coating to prevent spread of novel Coronavirus (COVID-19) at officepremises;

• Continuous temperature and oxygen level testing at the security gate area;

• Distribution of quality masks and sanitizers to employees;

Installation of paddle sanitizers at office premises;

• Awareness drive through emails banners at entrance.

Covid Vaccination Drive: In accordance with the Central Government StateGovernment and Municipal Corporation guidelines the Company has scheduled CovidVaccination drive for its employees and their family members in the month of June 2021.


As the global COVID-19 pandemic continues to put pressure on worldeconomyweacknowledgeandthankallattheforefrontfightingthis pandemic and risking theirlives for us. Our priority has been the safety of our employees customers vendors andstrict adherence to government norms.

Your Directors regret the loss of life due to COVID-19 pandemic and are deeply gratefuland have immense respect for every person who risked their life and safety to fight thispandemic.

Your Directors take this opportunity to thank the Government of India concerned StateGovernments Government Authorities Banks Customers

Vendors and Service Providers for the valuable support and co-operation extended bythem during the year.

Your Directors would also like to place on record their sincere thanks and appreciationfor the contribution consistent hard work dedication and commitment of our employees atall levels for their contribution to the success achieved by the Company.

For Sanghvi Movers Limited For Sanghvi Movers Limited
Rishi C. Sanghvi Sham D. Kajale
Managing Director Joint Managing Director & CFO
(DIN: 08220906) (DIN: 00786499)
Place: Pune
Date: 27 May 2021
Registered Office:
Survey No. 92 Tathawade
Taluka Mulshi Pune 411033
CIN: L29150PN1989PLC054143
Tel No. +91 8669674701/2/3/4