Manufactures gears and related industrial products from India, with exports going primarily to America, Europe and other markets. In FY26, India made up 86.6% of segment revenue at ₹449.11 Cr, while America contributed 10.2% at ₹53.08 Cr, Europe 1.0% at ₹5.4 Cr and Others 2.1% at ₹11.13 Cr. Total revenue for FY26 was ₹518.72 Cr, with EBITDA margin of 22.9% and net profit of ₹76.66 Cr. Raw materials are the largest cost at 49.2% of revenue, followed by employee costs at 15.2% and other operating expenses at 17.6%. The business is capital-intensive, with capex at 10.2% of revenue, and the order book stood at ₹378 Cr at the end of Q1 FY27. The company is debt-free and recorded ROCE of 24% in FY26. Tube Investments of India is the promoter. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. India (87%), America (10%), Others (2%), Europe (1%). Capital-intensive industrial manufacturing, primarily India-focused with exports, debt-free
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 337 | 446 | 536 | 605 | 519 |
| EBITDA (ex other income) | 60 | 90 | 102 | 129 | 99 |
| margin % | 17.8 | 20.2 | 19.0 | 21.3 | 19.1 |
| Owners' profit | 42 | 67 | 82 | 96 | 77 |
| EPS, as reported (₹) | 5.54 | 8.74 | 10.72 | 12.52 | 9.99 |
| ROE % · ROCE % | 16.3 · 22.5 | 22.2 · 29.8 | 23.8 · 31.7 | 23.8 · 32.2 | 17.4 · 22.9 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 35 | 63 | 36 | 91 | 70 |
| Capex | (6) | (15) | (20) | (24) | (53) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 155 | 158 | 153 | 135 | 132 | 117 | 135 | 115 |
| Profit before tax | 34 | 35 | 31 | 31 | 29 | 22 | 22 | 14 |
| Net profit | 26 | 26 | 22 | 23 | 22 | 16 | 16 | 10 |
| EPS (₹) | 3.34 | 3.43 | 2.93 | 2.96 | 2.81 | 2.11 | 2.12 | 1.28 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| India | 115 | 22.1 |
| America | 16 | 3.1 |
| Europe | 2 | 0.3 |
| Others | 3 | 0.5 |
| INDIA | 332 | 64.1 |
| AMERICA | 38 | 7.3 |
| EUROPE | 4 | 0.7 |
| OTHERS | 10 | 1.9 |
| Total, before eliminations | 519 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · Shanthi Gears Appoints New CFO and Head of HR | management changes | high | — | — |
| 26 Aug 2026 · Shanthi Gears clarifies on unusual volume: no undisclosed info pending | regulatory legal | medium | — | — |
| 25 Aug 2026 · BSE seeks clarification from Shanthi Gears on price movement | regulatory legal | high | — | — |
| 21 Aug 2026 · Tube Investments raises stake in Shanthi Gears to 73.16% | ownership changes | high | — | — |
| 30 Jul 2026 · All 7 resolutions passed at 53rd AGM via e-voting | board shareholder meetings | low | — | — |
| 30 Jul 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 29 Jul 2026 · 53rd AGM proceedings - FY26 results adopted, total dividend Rs.5/share | board shareholder meetings | low | — | — |
| 29 Jul 2026 · Q1 FY27 Results: Revenue Drops, Senior Management Resignation | management changes | medium | — | — |
| 29 Jul 2026 · Q1 FY27 Results: Revenue Down 14%, Profit Down 53% YoY | results | high | — | — |
| 17 Jul 2026 · Shanthi Gears board meeting on July 29 to approve Q1 FY27 results | results | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 22,490 | 69.9 | 11.24 | 39.7 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 86.8 | 26.9 | 118 of 138 | 15% |
| P/B | 12.6 | 3.5 | 100 of 111 | 10% |
| ROCE | 22.9 | 11.3 | 22 of 144 | 85% |
| ROE | 17.4 | 9.5 | 21 of 117 | 83% |
| Debt / Equity | 0.0 | 0.2 | 4 of 117 | 78% |
| EBITDA margin | 16.8 | 12.4 | 37 of 110 | 67% |
| Revenue growth | (14.4) | 20.6 | 98 of 114 | 14% |
| Profit growth | (56.6) | 17.1 | 91 of 109 | 17% |
| Market cap | 5558 | 356 | 17 of 140 | 89% |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
