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Shanthi Gears Limited

Shanthi Gears Limited

SHANTIGEAR.BO
Shanthi Gears LimitedIN flagBombay Stock Exchange
445.55
INR
+2.25
- -
34.05BMarket Cap
Shanthi Gears Limited
SHANTIGEAR.BO
(Bombay Stock Exchange)

Recent

price

445.55

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
19.87
21.09
17.59
18.45
18.6
19.82
22.07
25.68
28.98
31.04
27.43
43
56.83
68.78
78.83
67.6
78.35
Revenue per Share
3.41
3.44
1.89
2.25
1.14
2.17
2.75
3.5
4.08
3.28
2.63
5.54
8.74
10.72
12.52
9.99
12.66
Basic EPS, GAAP
5.17
2.47
5.2
2.98
-1.19
5.63
0.94
4.4
1.9
7.24
4
4.56
8.21
4.74
11.85
9.14
- -
Free Cash Flow per Basic Share
1
0.99
1
1.6
0.51
0.5
- -
1.69
5
3
1.5
2.5
3
5.02
5.01
5.01
- -
Dividend per Share
1
2.27
2.85
2.7
2.62
2.94
4.96
5.25
3.3
3.12
4.24
7.28
13.02
18.74
26.26
1
- -
Book Value per Share
28.03
30.27
31.35
32.47
33.03
34.7
37.46
38.86
36.91
29.76
30.9
33.86
39.39
44.92
52.49
57.28
- -
Tangible Book Value per Share
82
82
82
82
82
82
82
82
82
77
77
77
77
77
77
77
77
Basic Weighted Avg Shares
1,623
1,723
1,437
1,508
1,520
1,620
1,804
2,099
2,368
2,381
2,104
3,299
4,359
5,276
6,046
5,187
6,007
Sales/Revenue/Turnover
27.59
22.42
10.47
11
2.13
8.67
9.92
10.2
13.01
11.07
8.92
15.63
18.34
17.78
19.09
16.94
19.43
Operating Margin (%)
268
271
286
256
168
167
178
156
106
84
89
104
109
132
133
161
139
Depreciation Expense
279
281
155
184
93
177
225
286
334
252
202
425
670
822
960
767
971
Net Income, GAAP
36.33
32.38
29.9
29.12
28.91
23.41
21.02
13.84
21.46
22.94
22.63
27.69
25.66
24.98
26.18
25.36
26.34
Effective Tax Rate (%)
17.16
16.32
10.76
12.19
6.13
10.95
12.48
13.62
14.08
10.58
9.58
12.87
15.38
15.59
15.88
14.78
16.16
Profit Margin (%)
821
1,125
1,435
1,671
1,807
1,899
2,189
2,375
2,186
1,224
1,267
1,589
1,951
2,308
2,814
2,920
- -
Working Capital
39
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
2,292
2,478
2,576
2,664
2,707
2,839
3,063
3,178
3,021
2,286
2,371
2,600
3,024
3,453
4,030
4,401
- -
Total Equity
12.15
10.75
4.12
4.48
0.86
3.88
4.81
5.95
7.86
7.72
6.29
15.09
21.19
21.97
23.27
15.72
- -
Return on Invested Capital (%)
124.44
164.96
68.2
81.04
42.83
78.07
69.81
68.57
95.52
99.04
71.45
96.08
86.1
67.51
55.64
73.33
1,234.26
Return on Capital (%)
340.96
210.7
74.02
81.04
42.83
78.07
69.81
68.57
95.52
99.04
71.45
96.08
86.1
67.51
55.64
73.33
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
77
- -
Market Capitalization
38,821
36,166
37,708

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
3,819
- -
Cash, Cash Equivalents & STI
- -
1,542
- -
Accounts Receivable, Net
- -
1,372
- -
Inventories
- -
804
- -
Total Current Liabilities
- -
1,005
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.21%
13.21%
9.2%
Free Cash Flow
61.82%
35.7%
-22.86%
Net Income, GAAP
21.39%
37.54%
-20.17%
Sales/Revenue/Turnover
13.98%
22.06%
-14.21%
Total Cash Common Dividend
- -
30.78%
0.08%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,214
1,354
1,255
1,452
5,276
2025
1,388
1,551
1,575
1,532
6,046
2026
1,349
1,168
1,351
- -
5,187

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.36
2.74
2.27
- -
10.72
2025
2.82
3.34
3.43
2.93
12.52
2026
2.96
2.11
2.12
- -
9.99

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
5.02
2025
- -
- -
- -
- -
5.01
2026
- -
- -
- -
- -
5.01
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Business
Shanthi Gears Limited designs, manufactures, supplies and services gears, gearboxes, geared motors and gear assemblies for industrial power transmission applications. The company offers standard gearboxes including helical, bevel helical and worm gearboxes; custom-built products such as gears, pinions and special-purpose gearboxes; foundry castings comprising S.G. iron, grey iron, phosphor bronze, aluminium bronze, leaded bronze and copper alloy castings; and related services encompassing installation support, refurbishment, on-site maintenance and gear reconditioning under the Shanthi ReBuild brand. Its products serve diverse sectors including steel, cement, sugar, power, paper, rubber and plastics, mining, construction, process, compressors, railways, textiles, cranes, material handling, off-highway equipment and aerospace; with end-markets spanning original equipment manufacturers, replacement segments and institutional sales in India, the United States, Europe and other international regions. Founded in 1969 and headquartered in Coimbatore, Tamil Nadu, India, Shanthi Gears operates as a subsidiary of Tube Investments of India Limited, part of the Murugappa Group since its acquisition in 2012. In recent developments, the company achieved 13% revenue growth to Rs 604 crore in FY2025, driven by higher order inflows, improved EBITDA margins of 21.4% from a favorable product mix and capacity utilization, and sustained demand in replacement and OEM segments; it appointed A Venkataramani as independent director in May 2024 while certain directors retired in July 2024, declared an interim dividend of Rs 3 per share in FY2025, and continued strategic focus on indigenous product development, high-speed gearbox testing exceeding 100,000 RPM, and expansion into multi-brand servicing for wind turbine gearboxes of 2MW and above.