Shanthi Gears

  • Market Cap: Small Cap
  • Industry: Industrial Manufacturing
  • ISIN: INE631A01022
  • NSEID: SHANTIGEAR
  • BSEID: 522034
INR
450.60
-1.2 (-0.27%)
BSENSE

Jun 19, 03:30 PM

BSE+NSE Vol: 26.53 k

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

26.53 k (-3.95%) Volume

Shareholding (Mar 2026)

FII

3.13%

Held by 28 FIIs

DII

0.23%

Held by 1 DIIs

Promoter

70.47%

Why is Shanthi Gears Ltd. falling/rising?

20-Jun-2026

As of 20-Jun, Shanthi Gears Ltd. is facing a decline in its stock price, currently at 450.10, with three consecutive quarters of disappointing financial results and a significant drop in investor participation. Despite being net-debt-free and having long-term growth potential, the stock's high valuation and recent negative performance indicators have led to a lack of confidence among investors.

As of 20-Jun, Shanthi Gears Ltd. is experiencing a decline in its stock price, currently at 450.10, which reflects a change of -1.7 (-0.38%). The stock has been underperforming, having fallen for the last three consecutive days, resulting in a total decrease of -0.63% during this period. Additionally, the stock's performance today has underperformed its sector by -1.12%.<BR><BR>The company's recent financial results have been negative, with three consecutive quarters of disappointing outcomes. Specifically, the Return on Capital Employed (ROCE) is at its lowest at 24.42%, and the Profit After Tax (PAT) for the most recent quarter has decreased by -11.1% compared to the previous four-quarter average. Furthermore, the stock is trading at a premium relative to its peers, with a Price to Book Value of 7.8, indicating a very expensive valuation.<BR><BR>Investor participation has also declined, as evidenced by a significant drop in delivery volume, which fell by -58.52% against the five-day average. This reduction in trading activity suggests a lack of confidence among investors. Moreover, the stock has consistently underperformed against the benchmark indices over the past three years, generating a return of -9.60% in the last year while the broader market has fared better.<BR><BR>Despite the company's net-debt-free status and healthy long-term growth in operating profit at an annual rate of 37.63%, these positive factors are overshadowed by the recent negative performance indicators and the lack of investment from domestic mutual funds, which hold only 0.03% of the company. This may signal discomfort with the current stock price or the business itself. Overall, these factors contribute to the ongoing decline in Shanthi Gears Ltd.'s stock price.

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How big is Shanthi Gears?

11-Jun-2026

As of 10th June, Shanthi Gears Ltd. has a market capitalization of 3,388.00 Cr, with recent net sales of 518.72 Cr and a net profit of 76.66 Cr.

As of 10th June, Shanthi Gears Ltd. has a market capitalization of 3,388.00 Cr and is classified as a Small Cap company.<BR><BR>In the latest four quarters, Shanthi Gears reported Net Sales of 518.72 Cr and a Net Profit of 76.66 Cr.<BR><BR>The latest annual period for the balance sheet is March 2025, with Shareholder's Funds amounting to 402.99 Cr and Total Assets of 499.06 Cr.

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Who are in the management team of Shanthi Gears?

11-Jun-2026

The management team of Shanthi Gears includes M Karunakaran (Whole Time Director & CEO), Arunachalam Murugappa (Chairman), Mukesh Ahuja, Arun Venkatachalam (Directors), and Walter Vasanth P J (Company Secretary). The board also features several Independent Directors, including J Balamurugan and SOUNDARA KUMAR.

The management team of Shanthi Gears includes the following members:<BR><BR>1. **M Karunakaran** - Whole Time Director & CEO<BR>2. **Arunachalam Murugappa Arunachalam Murugappan** - Chairman (Non-Executive)<BR>3. **Mukesh Ahuja** - Director<BR>4. **Arun Venkatachalam** - Director<BR>5. **Walter Vasanth P J** - Company Secretary & Compliance Officer<BR><BR>Additionally, the board features several Independent Directors:<BR>- **J Balamurugan**<BR>- **SOUNDARA KUMAR**<BR>- **S K Sundararaman**<BR>- **N Krishna Samaraj**<BR>- **L Ramkumar**<BR><BR>This diverse team brings a range of expertise to the company, contributing to its governance and strategic direction.

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Who are the peers of the Shanthi Gears?

11-Jun-2026

Peers of Shanthi Gears include The Anup Enginee, Pitti Engg., Cyient DLM, GMM Pfaudler, Standard Enginee, Concord Control, Windsor Machines, Jash Engineering, and JNK. Shanthi Gears has average management risk, a good growth rating, and a 1-year return of -14.00%.

Peers: The Anup Enginee, Pitti Engg., Cyient DLM, GMM Pfaudler, Shanthi Gears, Standard Enginee, Concord Control, Windsor Machines, Jash Engineering, JNK.<BR><BR>Quality Snapshot: Excellent management risk is observed at The Anup Enginee and JNK, while Good management risk is found at Pitti Engg., GMM Pfaudler, and the rest. Average management risk is seen at Cyient DLM, Shanthi Gears, Standard Enginee, Concord Control, Jash Engineering, and Windsor Machines. Below Average management risk is noted at Windsor Machines. Growth is Excellent at Concord Control, Good at Shanthi Gears and GMM Pfaudler, Average at Pitti Engg., and Below Average at The Anup Enginee, Cyient DLM, Standard Enginee, Jash Engineering, and the rest. Capital Structure is Excellent at The Anup Enginee, Shanthi Gears, Standard Enginee, Concord Control, Jash Engineering, and JNK, while Good is noted at Cyient DLM and Windsor Machines, and Average at Pitti Engg.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Concord Control at 161.85%, while the lowest is The Anup Enginee at -34.60%. Shanthi Gears has a 1-year return of -14.00%, which is better than The Anup Enginee but worse than Concord Control. Additionally, peers with a negative six-month return include GMM Pfaudler and Standard Enginee.

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What does Shanthi Gears do?

10-Jun-2026

Shanthi Gears Ltd. is a small-cap gear manufacturing company established in 1969, with recent quarterly net sales of ₹135 Cr and a net profit of ₹16 Cr as of March 2026. The company has a market cap of ₹3,388 Cr and key metrics include a P/E ratio of 42.00 and a dividend yield of 1.21%.

Overview: <BR>Shanthi Gears Ltd. is a gear manufacturing company operating in the Industrial Manufacturing sector and classified as a Small Cap entity.<BR><BR>History: <BR>Shanthi Gears Ltd. was promoted in 1969 as a partnership concern and was converted into a Private Limited Company in July 1972. It later became a Public Limited Company in March 1986. The latest reported quarterly results indicate net sales and profit for the period ending March 2026.<BR><BR>Financial Snapshot: <BR>Net Sales: 135 Cr (Quarterly Results - Mar 2026) <BR>Net Profit: 16 Cr (Quarterly Results - Mar 2026) <BR>Market Cap: INR 3,388 Cr (Small Cap)<BR><BR>Key Metrics: <BR>P/E: 42.00 <BR>Industry P/E: 36 <BR>Dividend Yield: 1.21% <BR>Debt Equity: -0.32 <BR>Return on Equity: 18.23% <BR>Price to Book: 7.67<BR><BR>Contact Details: <BR>Address: 304-A Trichy Road, Singanallur Coimbatore Tamil Nadu : 641005 <BR>Tel: 91-0422-2273722-34 <BR>Email: cs@shanthigears.com <BR>Website: http://www.shanthigears.com

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Are Shanthi Gears Ltd. latest results good or bad?

06-May-2026

Shanthi Gears Ltd.'s latest Q4 FY26 results are considered poor, with a 27.55% decline in net profit and an 11.82% drop in revenue year-on-year, alongside a contracting operating margin and underperformance compared to the industrial sector. Overall, these trends raise concerns about the company's profitability and market position.

Shanthi Gears Ltd.'s latest results for Q4 FY26 indicate a challenging performance. The company reported a net profit of ₹16.27 crore, which reflects a significant decline of 27.55% year-on-year. Revenue also decreased by 11.82% year-on-year, totaling ₹135.10 crore, despite a sequential recovery of 15.65% from the previous quarter.<BR><BR>The operating margin has contracted to 17.68%, down 252 basis points from the same quarter last year, indicating pressure on profitability. While the return on equity remains strong at 18.59%, the overall financial trend is negative, with both revenue and profit showing year-on-year declines.<BR><BR>Additionally, the stock has underperformed significantly compared to the industrial manufacturing sector, with a 9.61% decline over the past year versus the sector's 24.13% gain. This underperformance, combined with the elevated price-to-earnings ratio of 44.31, suggests that the current results are not favorable and raise concerns about the company's operational effectiveness and market positioning.<BR><BR>In summary, the latest results for Shanthi Gears Ltd. are generally viewed as bad, reflecting ongoing challenges in revenue generation and profitability.

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Should I buy, sell or hold Shanthi Gears Ltd.?

06-May-2026

Has Shanthi Gears Ltd. declared dividend?

23-Jan-2026

Yes, Shanthi Gears Ltd. has declared a dividend of 300%, with an ex-date of January 29, 2026. The company has shown varying total returns over different periods, with significant long-term growth.

Shanthi Gears Ltd. has declared a dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 300%<BR>- Ex-date: 29 Jan 26<BR><BR>Dividend Yield: 1.12%<BR><BR>Total Returns by Period:<BR>In the 3 Months period, the price return was -14.19%, the dividend return was 0.59%, resulting in a total return of -13.6%.<BR><BR>In the 6 Months period, the price return was -21.9%, the dividend return was 0.53%, leading to a total return of -21.37%.<BR><BR>In the 1 Year period, the price return was -1.92%, the dividend return was 1.93%, culminating in a total return of 0.01%.<BR><BR>In the 2 Years period, the price return was -19.48%, the dividend return was 2.44%, resulting in a total return of -17.04%.<BR><BR>In the 3 Years period, the price return was 30.43%, the dividend return was 4.46%, leading to a total return of 34.89%.<BR><BR>In the 4 Years period, the price return was 178.46%, the dividend return was 11.36%, culminating in a total return of 189.82%.<BR><BR>In the 5 Years period, the price return was 271.7%, the dividend return was 17.66%, resulting in a total return of 289.36%.<BR><BR>Overall, Shanthi Gears Ltd. has declared a significant dividend and has shown varying total returns across different periods, with a notable increase in returns over the longer term. The recent dividend declaration and the positive long-term performance may be encouraging for investors.

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When is the next results date for Shanthi Gears Ltd.?

13-Jan-2026

The next results date for Shanthi Gears Ltd. is January 22, 2026.

The next results date for Shanthi Gears Ltd. is scheduled for January 22, 2026.

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Is Shanthi Gears technically bullish or bearish?

03-Dec-2025

As of December 2, 2025, Shanthi Gears is in a bearish trend with moderate strength, indicated by bearish signals from the MACD, KST, Bollinger Bands, and moving averages, alongside a lack of momentum in the RSI and negative returns compared to the Sensex.

As of 2 December 2025, the technical trend has changed from mildly bearish to bearish. The current technical stance for Shanthi Gears is bearish with a moderate strength. Key indicators driving this stance include the weekly MACD and KST both showing bearish signals, along with bearish readings from the Bollinger Bands and daily moving averages. The RSI shows no signal on both weekly and monthly time frames, indicating a lack of momentum. Overall, the absence of a clear trend in Dow Theory and the negative stock returns compared to the Sensex further support the bearish outlook.

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How has been the historical performance of Shanthi Gears?

03-Nov-2025

Shanthi Gears has shown consistent growth, with net sales increasing from 215.53 Cr in Mar'21 to 604.62 Cr in Mar'25, and profit after tax rising from 20.17 Cr to 96.03 Cr in the same period, reflecting strong operational efficiency and enhanced shareholder value. Total assets grew from 278.90 Cr to 499.06 Cr, indicating balanced growth.

Answer:<BR>The historical performance of Shanthi Gears shows a consistent growth trajectory in net sales and profitability over the years.<BR><BR>Breakdown:<BR>Shanthi Gears has demonstrated significant growth in net sales, increasing from 215.53 Cr in Mar'21 to 604.62 Cr in Mar'25. This upward trend reflects a steady rise in total operating income, which also rose from 242.29 Cr in Mar'20 to 604.62 Cr in Mar'25. The company's total expenditure has similarly increased, from 188.88 Cr in Mar'21 to 475.89 Cr in Mar'25, yet the operating profit (PBDIT) has improved markedly, reaching 143.39 Cr in Mar'25 compared to 34.93 Cr in Mar'21. Profit before tax has also seen a substantial increase, from 26.07 Cr in Mar'21 to 130.09 Cr in Mar'25, leading to a profit after tax of 96.03 Cr in Mar'25, up from 20.17 Cr in Mar'21. The earnings per share have risen from 2.63 in Mar'21 to 12.52 in Mar'25, indicating enhanced shareholder value. On the balance sheet, total assets grew from 278.90 Cr in Mar'20 to 499.06 Cr in Mar'25, while total liabilities increased from 322.95 Cr to 499.06 Cr during the same period, reflecting a balanced growth in both assets and liabilities. Cash flow from operating activities has improved significantly, reaching 90.00 Cr in Mar'25, compared to 30.00 Cr in Mar'21, showcasing the company's strong operational efficiency.

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Who are the top shareholders of the Shanthi Gears?

17-Jul-2025

The top shareholder of Shanthi Gears is Tube Investments Of India Limited, holding 70.46%. Other significant shareholders include Pacific Assets Trust Plc at 2.9%, individual investors with 20.68%, and foreign institutional investors holding 3.26%.

The top shareholders of Shanthi Gears include the promoters, with Tube Investments Of India Limited holding the largest share at 70.46%. In terms of public shareholders, Pacific Assets Trust Plc is the highest with a holding of 2.9%. Additionally, individual investors collectively hold 20.68% of the company's shares. The company also has 6 mutual fund schemes holding a small portion of 0.2%, and 36 foreign institutional investors (FIIs) holding 3.26%.

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Is Shanthi Gears overvalued or undervalued?

09-Jun-2025

As of December 22, 2021, Shanthi Gears is considered very expensive and overvalued with a PE ratio of 40.34, significantly higher than its peers, indicating caution for potential investors despite a recent strong performance.

As of 22 December 2021, the valuation grade for Shanthi Gears has moved from expensive to very expensive, indicating a significant shift in its perceived value. The company is currently considered overvalued. Key ratios include a PE ratio of 40.34, an EV to EBITDA of 29.05, and a Price to Book Value of 9.61, all of which suggest that the stock is trading at a premium compared to its earnings and assets.<BR><BR>In comparison to its peers, Shanthi Gears' PE ratio is notably higher than Samvardhana Motherson, which has a PE of 29.14 and is rated as attractive. Additionally, Bosch, classified as expensive, has a PE of 46.21. The substantial difference in these ratios highlights Shanthi Gears' overvaluation in the current market context. Despite a strong recent performance, with a 1-week return of 5.68% compared to the Sensex's 1.40%, the overall valuation metrics suggest caution for potential investors.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

The company has declared Negative results for the last 3 consecutive quarters

  • PAT(Latest six months) At Rs 36.03 cr has Grown at -26.07%
  • ROCE(HY) Lowest at 24.42%
2

With ROE of 18.2, it has a Very Expensive valuation with a 7.8 Price to Book Value

3

Despite the size of the company, domestic mutual funds hold only 0.03% of the company

4

Consistent Underperformance against the benchmark over the last 3 years

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Industrial Manufacturing

stock-summary
Market cap

INR 3,470 Cr (Small Cap)

stock-summary
P/E

43.00

stock-summary
Industry P/E

37

stock-summary
Dividend Yield

1.18%

stock-summary
Debt Equity

-0.32

stock-summary
Return on Equity

18.23%

stock-summary
Price to Book

7.88

Revenue and Profits:
Net Sales:
135 Cr
(Quarterly Results - Mar 2026)
Net Profit:
16 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (1.18%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
2.35%
0.46%
2.81%
6 Months
-4.43%
1.06%
-3.37%
1 Year
-9.92%
1.42%
-8.5%
2 Years
-16.5%
1.97%
-14.53%
3 Years
-3.41%
3.71%
0.3%
4 Years
126.43%
8.74%
135.17%
5 Years
221.17%
15.14%
236.31%

Latest dividend: 3.0129682997118157 per share ex-dividend date: Jan-29-2026

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

Announcements stock-summary

Shanthi Gears Limited - Other General Purpose

21-Nov-2019 | Source : NSE

Shanthi Gears Limited has has submitted to the Exchange a copy of Related Party Transactions for the half year ended September 30, 2019.

Shanthi Gears Limited - Updates

06-Nov-2019 | Source : NSE

Shanthi Gears Limited has informed the Exchange regarding 'Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018 for the period from 1st July 2019 to 30th September, 2019'.

Shanthi Gears Limited - Press Release

22-Oct-2019 | Source : NSE

Shanthi Gears Limited has informed the Exchange regarding a press release dated October 22, 2019, titled "Press Release for Financial Results for the quarter ended 30th September 2019".

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Shanthi Gears Ltd. has declared 200% dividend, ex-date: 17 Jul 26

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
19.20%
EBIT Growth (5y)
37.63%
EBIT to Interest (avg)
84.10
Debt to EBITDA (avg)
Net Debt is too low
Net Debt to Equity (avg)
-0.32
Sales to Capital Employed (avg)
1.39
Tax Ratio
25.36%
Dividend Payout Ratio
39.94%
Pledged Shares
0
Institutional Holding
3.36%
ROCE (avg)
33.88%
ROE (avg)
20.88%

Valuation key factors

Factor
Value
P/E Ratio
43
Industry P/E
37
Price to Book Value
7.84
EV to EBIT
37.70
EV to EBITDA
31.87
EV to Capital Employed
11.06
EV to Sales
6.38
PEG Ratio
NA
Dividend Yield
1.18%
ROCE (Latest)
29.33%
ROE (Latest)
18.23%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Bearish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Sideways
Mildly Bearish
Moving Averages
Bearish (Daily)
KST
Mildly Bullish
Bearish
Dow Theory
Mildly Bullish
No Trend
OBV
Mildly Bullish
Mildly Bearish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 5 Schemes (0.01%)

FIIs

Held by 28 FIIs (3.13%)

Promoter with highest holding

Tube Investments Of India Limited (70.46%)

Highest Public shareholder

Pacific Asstes Trust Plc (2.9%)

Individual Investors Holdings

21.09%

stock-summaryFinancial
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        },
        {
          "field": "Interest",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Exceptional Items",
          "val1": "-4.78",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Standalone Net Profit",
          "val1": "76.66",
          "val2": "96.03",
          "chgp": "-20.17%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "20.03%",
          "val2": "21.29%",
          "chgp": "-1.26%",
          "chgp_class": "negative"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Standalone) - Mar'26 - QoQstock-summary

Mar'26
Dec'25
Change(%)
Net Sales
135.10
116.82
15.65%
Operating Profit (PBDIT) excl Other Income
23.89
22.99
3.91%
Interest
0.00
0.00
Exceptional Items
-3.22
-1.56
-106.41%
Standalone Net Profit
16.27
16.19
0.49%
Operating Profit Margin (Excl OI)
17.68%
19.68%
-2.00%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2026 is 15.65% vs -11.44% in Dec 2025

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Mar 2026 is 0.49% vs -24.73% in Dec 2025

Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
266.80
293.90
-9.22%
Operating Profit (PBDIT) excl Other Income
57.03
62.81
-9.20%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Standalone Net Profit
44.20
47.29
-6.53%
Operating Profit Margin (Excl OI)
21.38%
21.37%
0.01%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is -9.22% vs 14.42% in Sep 2024

Direction Arrows
Standalone Net Profit

Growth in half year ended Sep 2025 is -6.53% vs 20.82% in Sep 2024

Nine Monthly Results Snapshot (Standalone) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
383.62
451.41
-15.02%
Operating Profit (PBDIT) excl Other Income
80.02
97.76
-18.15%
Interest
0.00
0.00
Exceptional Items
-1.56
0.00
Standalone Net Profit
60.39
73.57
-17.91%
Operating Profit Margin (Excl OI)
20.86%
21.66%
-0.80%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is -15.02% vs 18.04% in Dec 2024

Direction Arrows
Standalone Net Profit

YoY Growth in nine months ended Dec 2025 is -17.91% vs 30.05% in Dec 2024

Annual Results Snapshot (Standalone) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
518.72
604.62
-14.21%
Operating Profit (PBDIT) excl Other Income
103.91
128.73
-19.28%
Interest
0.00
0.00
Exceptional Items
-4.78
0.00
Standalone Net Profit
76.66
96.03
-20.17%
Operating Profit Margin (Excl OI)
20.03%
21.29%
-1.26%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is -14.21% vs 12.79% in Mar 2025

Direction Arrows
Standalone Net Profit

YoY Growth in year ended Mar 2026 is -20.17% vs 16.75% in Mar 2025

stock-summaryCompany CV
About Shanthi Gears Ltd. stock-summary
stock-summary
Shanthi Gears Ltd.
Small Cap
Industrial Manufacturing
Shanthi Gears Ltd (SGL), the Coimbatore based gear manufacturing company was promoted by P Subramanian, an entrepreneurial engineer in 1969 as a partnership concern. In July 1972, the partnership firm was converted into a Private Limited Company and later in March 1986 it became a Public Limited Company. The Company is in the business of design, manufacture, supply and servicing of gears and gear boxes.
Company Coordinates stock-summary
Company Details
304-A Trichy Road, Singanallur Coimbatore Tamil Nadu : 641005
stock-summary
Tel: 91-0422-2273722-34
stock-summary
cs@shanthigears.com
Registrar Details
SKDC Consultants Ltd , Kanapathy Towers, 3rd Floor, Ganapathy, Coimbatore