Shanthi Gears Ltd

₹ 592 -1.63%

07 Oct 10:18 a.m.

shanthigears.com BSE: 522034 NSE: SHANTIGEAR

About

Shanthi Gears Ltd is in the business of design, manufacture, supply and servicing of gears and gear boxes.^[1]

Key Points

Parentage
Tube Investments of India Ltd, the flagship company of the Murugappa Group, holds a 70.46% stake in the company. The 124-year-old Murugappa Group, with a turnover of ₹77,881 Cr, has a global presence across sectors like agriculture, engineering, finance, abrasives, electro minerals, EVs, auto components, fans, and transformers.. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 4,541 Cr.
Current Price ₹ 592
High / Low ₹ 743 / 384
Stock P/E 67.5
Book Value ₹ 57.4
Dividend Yield 0.83 %
ROCE 25.6 %
ROE 19.0 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 45.5%

Cons

Stock is trading at 10.5 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Industrial Products

Part of BSE Industrials BSE 1000

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	121.45	135.42	125.54	153.64	138.82	155.08	157.51	153.21	134.89	131.91	116.82	135.10	115.49
	98.35	106.69	102.19	127.03	110.17	120.92	122.56	122.24	104.38	105.39	93.83	111.21	100.31
Operating Profit	23.10	28.73	23.35	26.61	28.65	34.16	34.95	30.97	30.51	26.52	22.99	23.89	15.18
OPM %	19.02%	21.22%	18.60%	17.32%	20.64%	22.03%	22.19%	20.21%	22.62%	20.10%	19.68%	17.68%	13.14%
	3.99	3.94	3.61	9.52	3.39	3.37	3.89	4.01	3.77	5.94	2.51	2.63	4.16
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.11
Depreciation	2.97	3.01	3.01	4.22	3.09	3.23	3.41	3.57	3.66	3.78	3.91	4.71	5.06
Profit before tax	24.12	29.66	23.95	31.91	28.95	34.30	35.43	31.41	30.62	28.68	21.59	21.81	14.17
Tax %	24.88%	29.13%	27.22%	19.52%	25.18%	25.28%	25.83%	28.49%	25.90%	25.00%	25.01%	25.40%	30.49%
	18.12	21.02	17.43	25.68	21.66	25.63	26.28	22.46	22.69	21.51	16.19	16.27	9.85
EPS in Rs	2.36	2.74	2.27	3.35	2.82	3.34	3.43	2.93	2.96	2.80	2.11	2.12	1.28
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	155	164	183	214	242	242	216	337	446	536	605	519	499
	136	134	147	177	200	208	189	277	355	434	475	414	411
Operating Profit	18	31	36	37	41	35	27	60	90	102	129	104	89
OPM %	12%	19%	20%	17%	17%	14%	12%	18%	20%	19%	21%	20%	18%
	12	9	11	12	12	7	8	9	11	21	15	15	15
Interest	0	0	0	0	0	0	0	0	0	1	0	0	0
Depreciation	17	17	18	16	11	8	9	10	11	13	13	16	17
Profit before tax	13	23	28	33	42	33	26	59	90	110	130	103	86
Tax %	29%	23%	21%	14%	21%	23%	23%	28%	26%	25%	26%	25%
	9	18	23	29	33	25	20	42	67	82	96	77	64
EPS in Rs	1.14	2.17	2.75	3.50	4.08	3.28	2.63	5.54	8.74	10.72	12.52	9.99	8.31
Dividend Payout %	44%	23%	27%	29%	147%	61%	57%	45%	57%	47%	40%	50%

Compounded Sales Growth
10 Years:	12%
5 Years:	19%
3 Years:	5%
TTM:	-17%

Compounded Profit Growth
10 Years:	17%
5 Years:	32%
3 Years:	6%
TTM:	-31%

Stock Price CAGR
10 Years:	17%
5 Years:	30%
3 Years:	11%
1 Year:	12%

Return on Equity
10 Years:	16%
5 Years:	22%
3 Years:	23%
Last Year:	19%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	8	8	8	8	8	8	8	8	8
Reserves	263	276	298	310	294	221	229	252	295	338	395	432
	0	0	0	0	0	0	0	0	0	0	0	0
	36	34	41	42	51	54	88	81	75	97	101	116
Total Liabilities	306	318	348	360	353	283	325	341	377	443	504	556
	82	66	65	57	59	60	74	66	70	72	79	106
CWIP	4	0	1	0	0	6	0	3	2	4	5	26
Investments	16	63	70	114	124	79	47	50	57	45	88	75
	205	189	212	189	170	138	205	221	248	321	332	348
Total Assets	306	318	348	360	353	283	325	341	377	443	504	556

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-6	46	14	42	27	56	31	35	63	36	91	70
	10	-43	-13	-26	40	24	-18	-16	-26	-12	-38	-45
	-5	-5	0	-17	-49	-98	-12	-19	-23	-39	-38	-38
Net Cash Flow	-1	-2	1	-1	18	-18	1	-1	14	-14	14	-14
Free Cash Flow	26	35	8	37	16	38	16	30	48	18	67	17
CFO/OP	7%	179%	55%	131%	90%	182%	131%	83%	94%	61%	96%	95%

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	87	86	92	95	85	58	80	78	56	80	83	81
Inventory Days	371	403	397	238	237	192	275	141	113	121	103	168
Days Payable	134	129	132	96	105	95	193	97	73	79	80	108
Cash Conversion Cycle	325	359	357	237	218	154	163	122	96	123	106	142
Working Capital Days	180	308	317	230	135	104	87	69	56	135	88	107
ROCE %	5%	8%	10%	10%	13%	12%	11%	24%	32%	33%	35%	26%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Permanent Employees
count

xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx		xxx
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			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
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Pending Order Book
Rs. crore

Export Sales
Rs. crore

GGB (Gears & Gear Boxes) Share of Turnover
% of total turnover

Number of Countries Exported To
count

Number of Dealers/Distributors
count

Sales to Dealers/Distributors as % of Total Sales
% of total sales

R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

9 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%
	3.61%	3.44%	3.49%	3.46%	3.29%	3.25%	3.23%	3.26%	3.22%	3.16%	3.13%	3.13%
	0.62%	0.58%	0.49%	0.51%	0.73%	0.73%	0.75%	0.48%	0.28%	0.23%	0.23%	0.23%
	25.30%	25.51%	25.54%	25.56%	25.50%	25.54%	25.55%	25.78%	26.03%	26.14%	26.16%	26.16%
No. of Shareholders	29,393	30,329	26,240	25,405	26,471	27,759	28,497	29,010	29,461	30,013	28,913	28,529

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	70.12%	70.12%	70.12%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%	70.47%
	0.00%	0.00%	1.71%	3.21%	4.48%	2.90%	3.70%	3.49%	3.23%	3.13%	3.13%
	5.08%	6.97%	6.44%	4.23%	1.17%	0.89%	0.84%	0.49%	0.75%	0.23%	0.23%
	24.80%	22.91%	21.72%	22.09%	23.87%	25.74%	24.98%	25.54%	25.55%	26.16%	26.16%
No. of Shareholders	16,480	14,598	15,185	14,226	16,634	20,508	24,016	26,240	28,497	28,913	28,529

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Shanthi Gears Ltd

Shanthi Gears Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

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