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Prices as of 9 Oct 2026 close · Not investment advice

Shanthi Gears Limited

NSE: SHANTIGEARIndustrial Products

Share price

₹562.40

+0.97% close of 9 Oct 2026

Market cap ₹4,499 CrP/E 70.5

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

55

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹4,499 Cr

P/E ratio

70.5

P/B ratio

9.8

ROCE

25.6%

ROE

18.3%

Dividend yield

0.9%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹725.4552-week low ₹386.65

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 16.9% over the past year. Meanwhile what it keeps of every 100 rupees of sales held steady, near 17.6% over the last four years.

Whether it grew faster than its sector

It grew 5.7% a year against a sector median of 10.6% — 5.0 percentage points slower.

Room to re-rate, or risk of de-rating

At 70.5× earnings it costs 2.9× the market, which pays 24.1× across 2199 companies we can price. Its own industry sits at 89.5×, across 5 companies. It is against its own five-year median of 47.2×, the 94th percentile of its own range.

Whether growth justifies the valuation

Priced at 11.7 times its growth rate, on earnings growth of 6%.

Profit growthPrice per ₹1 profitPer 1% growth
Shanthi Gears Limited — this one6%/yr70.5×₹11.7
INDOMIM8%/yr107.0×₹13.4
Aditya Infotech Limited48%/yr105.3×₹2.2
Syrma SGS Technology Limited39%/yr89.5×₹2.3
Honeywell Automation India Limited7%/yr53.0×₹7.6
Jyoti CNC Automation Limited157%/yr69.6×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Industrial Products), it ranks 9 of 75 on returns, 60 of 75 on growth, 9 of 75 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A wide advantage: it earns 25.6% on capital, ahead of 88% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹295 crore of cash from the business, spent ₹115 crore on plant and equipment, and returned ₹157 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 97 arrived as cash. Its cash comes back more slowly than it used to: it went from being waiting 69 days for its cash to waiting 107 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 29 Jul 2026 · Standalone

Revenue

₹115 Cr

Revenue vs last year

-14.4%

Revenue vs last quarter

-14.5%

Net profit

₹10 Cr

Profit vs last year

-56.6%

Profit vs last quarter

-39.5%

Net margin

8.5%

EPS

₹1.28

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹4,499 Cr
Prev close
₹562.40
52w High
₹743
52w Low
₹384
Enterprise value
₹4,359 Cr
Beta
0.8
Price CAGR 1y
12.0%
Price CAGR 3y
10.0%
Price CAGR 5y
29.0%
Price CAGR 10y
16.0%

Ratios

Return on assets
13.8%
PEG ratio
10.7
P/E ratio
70.5
P/B ratio
9.8
EV / EBITDA
49.2
Industry P/E
36.1
ROCE
25.6%
ROCE 5y average
30.0%
ROE
18.3%
Debt / Equity
0.0
Interest coverage
—
Dividend yield
0.9%
ROE 3y average
23.0%
ROE last year
19.0%

Annual P&L

Annual revenue
₹519 Cr
Annual profit
₹77 Cr
Operating margin
20.0%
Net profit margin
14.8%
EBITDA margin
20.0%
Sales growth 3y
5.2%
Sales growth 5y
19.2%
Profit growth 3y
6.0%
Profit growth 5y
32.0%
EPS
₹10.0
Sales growth TTM
-17.0%
Profit growth TTM
-31.0%
Dividend payout
50.0%

Quarter P&L

Sales latest quarter
₹115 Cr
Profit latest quarter
₹10 Cr
YoY quarterly sales growth
-14.4%
YoY quarterly profit growth
-56.6%
OPM latest quarter
13.1%

Balance Sheet

Book Value
₹55.0
Face Value
₹1.0
Total debt
₹0 Cr
Total cash
₹75 Cr
Borrowings
₹0 Cr
Reserves / Equity
54.0

Cash Flow

Operating cash flow
₹70 Cr
Free cash flow
₹17 Cr
FCF yield
0.4%
Net cash flow
-₹14 Cr

Shareholding

Promoter holding
70.5%
FII holding
3.1%
DII holding
0.2%
Public holding
26.2%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Indo-MIM1,249.0095.761,7610.00240.131.61,218.79.425.0
Aditya Infotech3,912.65100.547,9800.04142.2332.51,402.489.528.6
Syrma SGS Tech.1,713.0089.033,0320.09105.7101.21,588.668.316.8
Honeywell Auto32,560.5051.528,7830.33150.720.91,204.41.816.9
Jyoti CNC Auto.1,017.3571.923,1370.0057.1-20.0508.524.021.3
Kaynes Tech3,271.9063.321,9950.0056.4-24.4946.040.512.7
LMW16,250.0095.017,3600.2155.5369.2860.724.05.6
Shanthi Gears556.8563.44,2720.889.9-56.6115.5-14.425.6
Median342.5034.86790.005.733.175.423.716.2

Competes with: Aditya Infotech Limited, Honeywell Automation India Limited, INDOMIM, Jyoti CNC Automation Limited, Kaynes Technology India Limited, LLOYDS ENGINEERING WORKS LIMITED, LMW Limited, Syrma SGS Technology Limited, Tega Industries Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Standalone · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales121135126154139155158153135132117135115
Expenses9810710212711012112312210410594111100
Material Cost686362597271
Change in Inventories4.05-1.070.98-7.13-3.24-11
Purchases of Stock-in-Trade000000
Employee Cost201921201820
Other Expenses312422212421
Operating Profit23292327293435313127232415
OPM %19211917212222202320201813
Other Income3.993.943.619.523.393.373.894.013.775.942.512.634.16
Exceptional items (within Other Income)000-1.56-3.220
Interest0000000000000.11
Depreciation2.973.013.014.223.093.233.413.573.663.783.914.715.06
Profit before tax24302432293435313129222214
Tax %25292720252526282625252530
Net Profit1821172622262622232216169.85
EPS in Rs2.362.742.273.352.823.343.432.932.962.802.112.121.28
Diluted EPS in Rs2.932.962.812.112.121.28

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Standalone · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales155164183214242242216337446536605519499
Expenses136134147177200208189277355434475414411
Material Cost282255
Change in Inventories2.33-10
Purchases of Stock-in-Trade00
Employee Cost8279
Other Expenses11091
Operating Profit18313637413527609010212910489
OPM %12192017171412182019212018
Other Income1291112127891121151515
Exceptional items (within Other Income)0-4.78
Interest0000000001000
Depreciation171718161189101113131617
Profit before tax13232833423326599011013010386
Tax %292321142123232826252625
Net Profit9182329332520426782967764
EPS in Rs1.142.172.753.504.083.282.635.548.7411139.998.31
Diluted EPS in Rs139.99
Dividend Payout %4423272914761574557474050

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

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
16%
5 years
29%
3 years
10%
1 year
12%

Return on equity

10 years
16%
5 years
22%
3 years
23%
Last year
19%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital888888888888
Reserves263276298310294221229252295338395432
Borrowings000000000000
Other Liabilities36344142515488817597101116
Total Liabilities306318348360353283325341377443504556
Fixed Assets8266655759607466707279106
CWIP4010060324526
Investments16637011412479475057458875
Other Assets205189212189170138205221248321332348
Total Assets306318348360353283325341377443504556

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-64614422756313563369170
Cash from Investing Activity10-43-13-264024-18-16-26-12-38-45
Cash from Financing Activity-5-50-17-49-98-12-19-23-39-38-38
Net Cash Flow-1-21-118-181-114-1414-14
Free Cash Flow26358371638163048186717

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days878692958558807856808381
Inventory Days371403397238237192275141113121103168
Days Payable134129132961059519397737980108
Cash Conversion Cycle32535935723721815416312296123106142
Working Capital Days18030831723013510487695613588107
ROCE %5810101312112432333526

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Standalone · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters707070707070707070707070
FIIs3.613.443.493.463.293.253.233.263.223.163.133.13
DIIs0.620.580.490.510.730.730.750.480.280.230.230.23
Public252626262626262626262626
No. of Shareholders29,39330,32926,24025,40526,47127,75928,49729,01029,46130,01328,91328,529

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +7.3% (₹524.20 → ₹562.40)Brick size ₹33.74 (fixed)Bricks 15
₹400₹500₹600₹700₹562Jan '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹562.40 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-141inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,08,35,073inr

2026-03-31

News

News and filings about Shanthi Gears Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • copper/tin/aluminium/lead (bronze worm-wheel castings)
  • ferrous inputs (SG/grey iron castings, steel rods)
  • foundry sand and resin
  • power and fuel
  • stores and spares

Depends on the price of

  • fuel
  • steel

Sells to

  • ABB India · industrial gears and geared motors
  • Bharat Heavy Electricals · power / heavy engineering gears and gearboxes
  • Cummins India Limited · industrial gears and gearboxes
  • Elgi Equipments Limited · gears for compressors
  • Hindustan Aeronautics · aerospace/defence gears (AS9100D, DGQA, NADCAP)
  • Indian Railways · railway gears and gearboxes (IRIS certified)
  • JSW Steel · steel plant / rolling mill gears and gearboxes
  • Larsen & Toubro · industrial gears and gearboxes
  • Manitou · off-highway / material-handling gears (export, France)
  • NAMCO Machine and Gear Works · gears / gear components (export, USA)
  • Progress Rail · railway/locomotive gears (export, USA)
  • Tata Steel · steel plant / rolling mill gears and gearboxes

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Industrial Products
Classification
Capital Goods › Industrial Products
ISIN
INE631A01022

Business segments

  • India · 87%
  • America · 10%
  • Others · 2%
  • Europe · 1%

Plants

  • Shanthi Gears F Unit / Foundry Division
  • Shanthi Gears Unit A
  • Shanthi Gears Unit B
  • Shanthi Gears Unit C
  • Shanthi Gears Unit D

News impact

Big market events that reach Shanthi Gears Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

17 Jul 2026unspecified₹2
29 Jan 2026interim₹3
18 Jul 2025unspecified₹2
7 Feb 2025interim₹3
19 Jul 2024unspecified₹2
9 Feb 2024interim₹3
14 Jul 2023unspecified₹2
8 Feb 2023interim₹3

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Bulk & block deals

DateWhoBought / soldSharesPrice
24 Aug 2026JUNOMONETA FINSOL PRIVATE LIMITEDBUY6,65,791₹530.00
24 Aug 2026JUNOMONETA FINSOL PRIVATE LIMITEDSELL6,63,357₹529.86
24 Aug 2026MICROCURVES TRADING PRIVATE LIMITEDSELL5,58,410₹529.13
24 Aug 2026MICROCURVES TRADING PRIVATE LIMITEDBUY5,58,406₹529.05
24 Aug 2026NK SECURITIES RESEARCH PRIVATE LIMITEDBUY4,31,846₹527.30
24 Aug 2026NK SECURITIES RESEARCH PRIVATE LIMITEDSELL4,30,867₹527.49
21 Aug 2026TUBE INVESTMENT OF INDIA LIMITEDBUY20,64,713₹375.30
21 Aug 2026PACIFIC ASSETS TRUST PLCSELL20,64,713₹375.30

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.