₹423.6
▼ -10.28 -2.37%
17 Jul 2026
NSE Listed
Shanthi Gears Ltd. (SHANTIGEAR)
Volume: 10,674Avg Vol 1W: 7,888.8Avg Vol 1M: 13,093.2552W Range:₹395₹619.8
Key Ratios
Checked 16h agoMarket Cap₹3,329 Cr
Current Price₹423.6
Previous Close₹433.88
High / Low (52w)₹619.8 / ₹395
Volume10,674
Avg Vol (1W)7,888.8
Avg Vol (1M)13,093.25
Stock P/E204.67
Book Value₹57.36
Dividend Yield116%
ROE17.42%
ROA13.8%
Revenue (TTM)₹538 Cr
Revenue Growth—
Profit Margin14.78%
Total Debt—
Shares Outstanding8 Cr
Face Value₹1
EPS (TTM)₹10.44
P/B7.52
Debt / Equity0.68
50 DMA₹443.21
200 DMA₹461.1
Day change-2.37%
Price Chart
₹423.6▼ 20.38% · 1Y
2025-07-172026-07-16
20-day avg volume: 13K shares
Pros
- Healthy return on equity of 17.4%.
- Pays a dividend yield of 116.0%.
- Company is almost debt-free.
- Net profit is growing year over year.
Cons
- Stock trades at a high P/E of 205.
Quarterly Results
| Metric | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹139 Cr | ₹155 Cr | ₹158 Cr | ₹153 Cr | ₹135 Cr | ₹132 Cr | ₹117 Cr | ₹135 Cr |
| EBITDA | ₹29 Cr | ₹34 Cr | ₹35 Cr | ₹31 Cr | ₹31 Cr | ₹29 Cr | ₹23 Cr | ₹25 Cr |
| Net Profit | ₹22 Cr | ₹26 Cr | ₹26 Cr | ₹22 Cr | ₹23 Cr | ₹22 Cr | ₹16 Cr | ₹16 Cr |
| EPS | — | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹253 Cr | ₹249 Cr | ₹224 Cr | ₹346 Cr | ₹457 Cr | ₹557 Cr | ₹619 Cr | ₹538 Cr |
| EBITDA | ₹42 Cr | ₹33 Cr | ₹26 Cr | ₹59 Cr | ₹90 Cr | ₹110 Cr | ₹130 Cr | ₹107 Cr |
| Net Profit | ₹33 Cr | ₹25 Cr | ₹20 Cr | ₹42 Cr | ₹67 Cr | ₹82 Cr | ₹96 Cr | ₹77 Cr |
| EPS | 4.08 | 3.28 | 2.63 | 5.54 | 8.74 | 10.72 | 12.52 | 9.99 |
Balance Sheet
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹353 Cr | ₹283 Cr | ₹325 Cr | ₹341 Cr | ₹377 Cr | ₹443 Cr | ₹504 Cr | ₹556 Cr |
| Total Liabilities | ₹51 Cr | ₹54 Cr | ₹88 Cr | ₹81 Cr | ₹75 Cr | ₹97 Cr | ₹101 Cr | ₹116 Cr |
| Equity | ₹302 Cr | ₹229 Cr | ₹237 Cr | ₹260 Cr | ₹302 Cr | ₹345 Cr | ₹403 Cr | ₹440 Cr |
| Total Debt | — | — | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | ₹35 Cr | ₹50 Cr | ₹85 Cr | ₹62 Cr | ₹124 Cr | ₹99 Cr |
| Investing | ₹-18 Cr | ₹-16 Cr | ₹-26 Cr | ₹-12 Cr | ₹-38 Cr | ₹-45 Cr |
| Financing | ₹-12 Cr | ₹-19 Cr | ₹-23 Cr | ₹-39 Cr | ₹-38 Cr | ₹-38 Cr |
| Free Cash Flow | ₹35 Cr | ₹50 Cr | ₹70 Cr | ₹42 Cr | ₹100 Cr | ₹46 Cr |
Shareholding
Promoter 70.47% Institutions 3.36% Public 26.17%
About Shanthi Gears Ltd.
Capital Goods-Non Electrical Equipment · Engineering
Shanthi Gears Limited designs, manufactures, supplies, and services gears and gear boxes in India, the United States, Europe, and internationally. The company provides helical and bevel helical, worm, extruder, and cooling tower gear boxes, as well as geared motors. It also offers gears and pinions; special gearboxes; and iron, iron castings, phosphor bronze, aluminum bronze, leaded bronze, and copper alloy castings. In addition, the company provides installation support, refurbishment, and on-site services. Its products are used in steel, cement, sugar, crane and material handling, power, paper, rubber and plastics, off-highway and mining, process, compressor, railway, textile, and aerospace applications. The company was founded in 1960 and is based in Coimbatore, India. Shanthi Gears Limited operates as a subsidiary of Tube Investments of India Limited.
www.shanthigears.com ↗Efficiency & Working Capital
ROCE23.3%
Interest Coverage9.9
Dividend Payout—
Debtor Days81 d
Inventory Days79 d
Payable Days51 d
Cash Conversion Cycle110 d
Working Capital Days161 d
Shareholding Details
As of 2026-03-31
Promoter70.5%
FII3.1%
DII0.2%
Institutions3.4%
Public26.2%
Promoter Pledge0%
No. of Shareholders28,913
Shareholding Pattern
Quarterly — figures in %. Latest 12 quarters.
| Period | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% | 70.5% |
| FIIs | 3.7% | 3.6% | 3.4% | 3.5% | 3.5% | 3.3% | 3.2% | 3.2% | 3.3% | 3.2% | 3.2% | 3.1% |
| DIIs | 0.7% | 0.6% | 0.6% | 0.5% | 0.5% | 0.7% | 0.7% | 0.8% | 0.5% | 0.3% | 0.2% | 0.2% |
| Public | 25.1% | 25.3% | 25.5% | 25.5% | 25.5% | 25.5% | 25.5% | 25.5% | 25.8% | 26% | 26.1% | 26.2% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 26,583 | 29,393 | 30,329 | 26,240 | 25,405 | 26,471 | 27,759 | 28,497 | 29,010 | 29,461 | 30,013 | 28,913 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202603 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Tube Investments Of India Limited | Shareholding of Promoter and Promoter Group | 70.5% | 5.41 Cr |
| Pacific Asstes Trust Plc | Public Shareholding | 2.9% | 22,21,090 |
| Dhanesh S Shah | Public Shareholding | 1.3% | 9,74,114 |
| Durgesh S Shah | Public Shareholding | 1.3% | 9,74,114 |
| Nimesh Sumatilal | Public Shareholding | 1.3% | 9,74,114 |
| Ambadi Investments Limited | Shareholding of Promoter and Promoter Group | 0% | 5,714 |
| A M M Vellayan Sons P | Shareholding of Promoter and Promoter Group | 0% | 660 |
| Ambadi Enterprises Ltd | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Carborundum Universal Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Murugappa Educational And Medical Foundation | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M.a.alagappan Holdings Pvt Ltd | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M.m.muthiah Sons Pvt Ltd | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M.m.muthiah Research Foundation | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M A Murugappan Holdings Llp | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Ar Lakshmi Achi Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Lakshmi Ramaswamy Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mv Muthiah Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mmveerappan Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M M Muthiah Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M V Subramanian Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| M M Murugappan Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Meenakshi Murugappan Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Lakshmi Venkatachalam Family Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Shambho Trust | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Saraswathi Trust (mvsubbiah, Svellayanandmvseethasubbiahholdshares) | Shareholding of Promoter and Promoter Group | 0% | 0 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| M V Subbiah | 0 | 0% | 2026-03-31 |
| M V Subbiah - As Kartha Of Huf | 0 | 0% | 2026-03-31 |
| M V Seetha Subbiah | 0 | 0% | 2026-03-31 |
| Valli Subbiah | 0 | 0% | 2026-03-31 |
| S Vellayan | 0 | 0% | 2026-03-31 |
| Lalitha Vellayan | 0 | 0% | 2026-03-31 |
| Valli Annamalai | 0 | 0% | 2026-03-31 |
| V Narayanan | 0 | 0% | 2026-03-31 |
| V Vasantha | 0 | 0% | 2026-03-31 |
| V Arunachalam | 0 | 0% | 2026-03-31 |
| A V Nagalakshmi | 0 | 0% | 2026-03-31 |
| A Venkatachalam | 0 | 0% | 2026-03-31 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| Arunachalam Murugappa Arunachalam Murugappan | Chairman & Non Executive Dir. | 2026 |
| A Venkataramani | Independent Non Exe. Director | 2026 |
| Aruna Thangaraj | Independent Non Exe. Director | 2026 |
| S K Sundararaman | Independent Non Exe. Director | 2026 |
| Arun Venkatachalam | Non-Exec & Non-Independent Dir | 2026 |
| Mukesh Ahuja | Non-Exec & Non-Independent Dir | 2026 |
| M Karunakaran | Executive Director / Whole Time Director / CEO | 2026 |
| Walter Vasanth P J | Company Sec. & Compli. Officer | 2026 |
| K Ilango | Independent Non Exe. Director | 2026 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Manufacture, design and servicing o | ₹0 Cr | — |
Segments — Geography
| Region | Revenue | Share |
|---|---|---|
| India | ₹449 Cr | 86.6% |
| Rest of the World | ₹70 Cr | 13.4% |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2026 | ₹1 | 10 | 8 | 8 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| forthcoming | 2026-07-17 | Dividend (2/- per share) | Final |
| dividend | 2026-01-29 | ₹3 (300%) | Interim |
| dividend | 2025-07-18 | ₹2 (200%) | Final |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2026 | 8 | 0 | 0 | 2 | 1 | 45 |
| 2026 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 8 | 0 | 0 | 2 | 1 | 43 |
Company Information
Incorporated1972
ChairmanArunachalam Murugappa Arunachalam Murugappan
AuditorMSKA & Associates LLP
Investor Email[email protected]
📍 304-A Trichy Road, Singanallur, Coimbatore, Tamil Nadu, 641005
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