Shanthi Gears
- Market cap
- ₹ 3,703 Cr.
- P/E
- 61.1x
- P/B
- 8.71x
- 52-week range
- 384 – 743
- ROE
- 19%
- ROCE
- 26%
- Dividend yield
- 1%
- Debt / equity
- 0
- Sector
- Industrial Manufacturing
- Industry
- Industrial Products
- Listed on
- NSE, BSE
About
Shanthi Gears Limited is an industrial gearing solutions company. It is engaged in designing and manufacturing gears, gearboxes, geared motors, and gear assemblies, using its integrated manufacturing facilities. It offers a range of products and services, such as gear solutions for a range of applications and specialized gear reconditioning services. Its products include helical gearboxes, bevel helical gearboxes, worm gearboxes, geared motors, extruder gearboxes, cooling tower gearboxes, gears & pinions and special gearboxes sector. Its applications include steel, cement, sugar, crane & material handling, power, paper, rubber and plastics, off-highway and mining, compressors, railways, textile and aerospace. It provides facilities, such as engineering and research and development, foundry, forging and fabrication, heat treatment, CNC turning/machining, hobbing, gear profile grinding and testing toolroom for clutter manufacturing, metrology and calibration, and assurance.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Industrial Products: 186 companies →Shanthi Gears against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)61.1 against a typical 29.6: pricier than most peers (1st = cheapest).140th of 184
- Sales growth−14.4% against a typical +20.3% from a year earlier.124th of 147
- Profit growth−56.6% against a typical +9.4% from a year earlier.98th of 121
- Share price, 3 months+17.3% against a typical −3.4%.39th of 164
- Size₹ 3,702.9 Cr. market value against a typical ₹ 305.2 Cr. (1st = largest).24th of 176
Latest announcements
Exchange filings and their impact on the company.
- Q2 FY27 results extend the sales and margin downtrend seen in Q1.
Shanthi Gears submitted its financial results for the quarter and half-year ended September 30, 2026 after a board meeting on October 26, 2026. The extracted document text was not readable, so detailed Q2 numbers could not be confirmed from the filing. Recent context is weak, with Q1 FY27 sales of Rs 115.49 crore, operating margin of 13.1% and net profit of Rs 9.85 crore, down sharply from last year, suggesting continued pressure on revenue and profitability.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]AA | Stable | 10 Jan 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 10 Jan 2026 | Reaffirmed | [ICRA]AA | — | ICRA | ₹ 67.99 Cr. | |
| 16 Sep 2025 | Reaffirmed | [ICRA]AA | — | ICRA | ₹ 77.99 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 26 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 29 Jul 2026 | Financial Results | To consider and approve the Unaudited Financial Results for the Quarter ended 30th June, 2026 |
| 5 May 2026 | Financial Results/Dividend | To consider and approve the audited financial results for the quarter and year ended 31st March, 2026 and issue of dividend if any. |
| 22 Jan 2026 | Financial Results/Dividend | Board Meeting Intimation for the Unaudited Financials for the Quarter and Nine Months ended 31st December 2025 and Interim Dividend, If any for the financial year ending 31st March 2026 |
| 24 Oct 2025 | Financial Results | To consider and approve the unaudited standalone financial results for the quarter and half year period ended September 30, 2025 |
| 30 Jul 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 135 | 126 | 154 | 139 | 155 | 158 | 153 | 135 | 132 | 117 | 135 | 115 |
| Expenses | 107 | 102 | 127 | 110 | 121 | 123 | 122 | 104 | 105 | 94 | 111 | 100 |
| Operating Profit | 29 | 23 | 27 | 29 | 34 | 35 | 31 | 31 | 27 | 23 | 24 | 15 |
| OPM % | 21.2% | 18.6% | 17.3% | 20.6% | 22% | 22.2% | 20.2% | 22.6% | 20.1% | 19.7% | 17.7% | 13.1% |
| Other Income | 4 | 4 | 10 | 3 | 3 | 4 | 4 | 4 | 6 | 3 | 3 | 4 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 5 |
| Profit before tax | 30 | 24 | 32 | 29 | 34 | 35 | 31 | 31 | 29 | 22 | 22 | 14 |
| Tax % | 29.1% | 27.2% | 19.5% | 25.2% | 25.3% | 25.8% | 28.5% | 25.9% | 25% | 25% | 25.4% | 30.5% |
| Net Profit | 21 | 17 | 26 | 22 | 26 | 26 | 22 | 23 | 22 | 16 | 16 | 10 |
| EPS in Rs | 2.74 | 2.27 | 3.35 | 2.82 | 3.34 | 3.43 | 2.93 | 2.96 | 2.8 | 2.11 | 2.12 | 1.28 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 12%
- 5 Years
- 19%
- 3 Years
- 5%
- TTM
- −17%
- 10 Years
- 17%
- 5 Years
- 32%
- 3 Years
- 6%
- TTM
- −31%
- 10 Years
- 14%
- 5 Years
- 22%
- 3 Years
- 0%
- TTM
- —
- 10 Years
- 16%
- 5 Years
- 22%
- 3 Years
- 23%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Shanthi Gears | ₹ 491.40 | ₹ 3,703 Cr. | 61.1x | 8.7x | 19% | — |
| Bharat Heavy Electricals | ₹ 387.00 | ₹ 1,34,756 Cr. | 92.4x | 5.6x | — | 6.8% |
| Suzlon Energy | ₹ 37.40 | ₹ 51,409 Cr. | 22.8x | 7.5x | 40.6% | 19% |
| Thermax | ₹ 3,095.60 | ₹ 36,999 Cr. | 73.4x | 10x | 13.7% | 6.7% |
| Voltas | ₹ 950.00 | ₹ 31,434 Cr. | 112.5x | 7x | 5.8% | 3.5% |
| AIA Engineering | ₹ 3,588.70 | ₹ 33,490 Cr. | 34.1x | 5.4x | 17% | 28.7% |
Management
- Muthusamy Karunakaran
- Chief Executive Officer, Whole Time Director
- Sukanta Kumar Panigrahi
- Interim Chief Financial Officer
- Walter Vasanth P. J.
- Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.