As of 6 Nov 2026, Shanthi Gears trades at 64.8× trailing earnings, above the industry P/E of 33.8×, and the shares are 34% below their 52-week high. It earns ROCE of 20% and ROE of 13%, and sales and net profit grew 5.6% and 4.6% a year over 3 years. It has almost no debt, and its dividend yield is 1.0%. It is a small-cap company with a market cap of ₹3,759 Cr, ranked 39th of 138 Specialty Industrial Machinery companies by market cap; the shares rose 5.0% over the past year.
- ₹482.00
- ₹497.40
- ₹472.55
- ₹493.85
- 26.6K
Health check
- ReturnsIn line
+5.0% over a year, better than 3 of 7 peers.
- Price tagPricier
P/E 64.8 vs industry 33.8.
- GrowthSlow
Sales +5.6%, profit +4.6% a year over 3 years.
- ProfitabilityAverage
ROCE 20.2% vs peer median 24.8%.
- Balance sheetSolid
Practically debt-free.
- Red flags4 to check
Quarterly profit down 26.8% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹3,759 Cr
- Small cap
- P/E
- 64.8
- Industry 33.8
- Price to book
- 8.35
- Peers 9.16
- Dividend yield
- 1.02%
- ROE
- 13.2%
- Peers 19.1%
- ROCE
- 20.2%
- Peers 24.8%
- Debt to equity
- 0.01
- Debt ₹5.06 Cr
- EPS (TTM)
- ₹7.56
- Face value ₹1
- OPM (TTM)
- 17.1%
- Net margin 11.7%
- Sales growth
- −3.0%
- Latest quarter vs a year ago
- Profit growth
- −26.8%
- Latest quarter vs a year ago
- Price to sales
- 7.59
- EV/EBITDA 42.8
Strengths and risks
Strengths
- Return on capital employed of 20.2%.
- Practically debt-free.
- Positive operating cash flow in each of the last 4 years.
- Promoter stake up from 70.5% to 73.2%.
Risks to check
- Quarterly profit down 26.8% on a year ago.
- Quarterly sales down 3.0% on a year ago.
- P/E of 64.8 against an industry P/E of 33.8.
- 34% below its 52-week high.
About Shanthi Gears
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, planetary gear boxes, as well as geared motors. It also offers gears and pinions; special gearboxes; and iron, grey iron castings, phosphor bronze, aluminum bronze, leaded bronze, and copper alloy castings. In…
- Headquarters
- Coimbatore
- Employees
- 479
- Sector
- Industrials
- ISIN
- INE631A01022
- Website
- shanthigears.com
Price range
- Avg volume (3M)
- 3.9 L
- 1-year return
- plus 5.0%
- From 52-week high
- minus 34.1%
Peers · Specialty Industrial Machinery
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHELBharat Heavy Electricals | 418.80 | plus 0.17% | 1,45,829 | 50.6 | 74.6 | 6.6% | 10.1% | 0.22 | 13.5% | plus 56.4% |
| ABBABB India | 6,774.00 | plus 2.20% | 1,43,547 | 92.3 | 68.2 | 28.5% | 13.8% | 0.02 | 15.4% | plus 26.4% |
| SIEMENSSiemens | 3,560.00 | plus 3.73% | 1,26,779 | 86.1 | 59.3 | 16.5% | 10.4% | 0.02 | 3.0% | plus 10.0% |
| CUMMINSINDCummins India | 4,048.80 | minus 0.25% | 1,12,233 | 49.8 | 41.7 | 35.0% | 19.1% | 0.00 | 16.1% | minus 6.0% |
| GVT&DGE Vernova T&D India | 4,018.00 | minus 3.06% | 1,02,879 | 71.3 | 56.6 | 58.5% | 26.5% | 0.01 | 31.1% | plus 31.7% |
| SUZLONSuzlon Energy | 38.80 | plus 0.54% | 53,337 | 23.7 | 17.3 | 24.8% | 16.7% | 0.07 | 41.4% | minus 35.7% |
| AIAENGAIA Engineering | 3,113.60 | minus 2.77% | 29,056 | 23.5 | 19.6 | 19.9% | 27.4% | 0.00 | −3.4% | minus 3.9% |
| SHANTIGEARShanthi Gears | 489.85 | minus 0.81% | 3,759 | 64.8 | 34.0 | – | 17.1% | 0.01 | 5.6% | plus 5.0% |
| Median of 7 peers | – | 0.17% | 1,12,233 | 50.6 | 56.6 | 24.8% | 16.7% | 0.02 | 15.4% | 10.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|---|
| 135 | – | 117 | 135 | 115 | 128 | |
| 104 | – | 93.8 | 111 | 100 | 105 | |
| 30.5 | 32.5 | 23 | 23.9 | 15.2 | 22.7 | |
| 22.6% | – | 19.7% | 17.7% | 13.1% | 17.7% | |
| 3.8 | – | 4.1 | 2.6 | 4.2 | 3.1 | |
| – | – | – | – | 0.1 | 0.1 | |
| 3.7 | – | 3.9 | 4.7 | 5.1 | 5.5 | |
| – | – | −1.6 | – | – | – | |
| 30.6 | – | 21.6 | 21.8 | 14.2 | 20.2 | |
| 25.9% | – | 25.0% | 25.4% | 30.5% | 22.2% | |
| 22.7 | – | 16.2 | 16.3 | 9.9 | 15.7 | |
| 2.96 | – | 2.11 | 2.12 | 1.28 | 2.05 |
Profit & loss
- Sales CAGR 3Y
- +5.6%
- Profit CAGR 3Y
- +4.6%
- EPS CAGR 3Y
- +4.6%
- ROE
- 13.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 436 | 528 | 599 | 513 | |
| – | +21.0% | +13.5% | minus 14.4% | |
| 345 | 421 | 468 | 406 | |
| 90.8 | 107 | 131 | 107 | |
| 20.8% | 20.3% | 21.8% | 20.8% | |
| 8.3 | 10.8 | 9 | 12.3 | |
| 10.9 | 13.2 | 13.3 | 16.1 | |
| 2 | 5.1 | 3.8 | −0.3 | |
| 90.2 | 110 | 130 | 103 | |
| 25.7% | 25.0% | 26.2% | 25.4% | |
| 67.1 | 82.3 | 96 | 76.7 | |
| – | +22.7% | +16.8% | minus 20.2% | |
| 8.74 | 10.72 | 12.52 | 9.99 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.7 | 7.7 | 7.7 | 7.7 | |
| 295 | 338 | 395 | 432 | |
| 74.8 | 97.5 | 101 | 116 | |
| 377 | 443 | 504 | 556 | |
| 66.1 | 72.6 | 83.9 | 124 | |
| 3.9 | 8.7 | 12.6 | 26.1 | |
| 20.3 | 23.2 | 20.3 | 10.2 | |
| 126 | 107 | 154 | 156 | |
| 161 | 231 | 233 | 239 | |
| 377 | 443 | 504 | 556 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 63 | 36.4 | 90.9 | 70.1 | |
| −26.2 | −12.3 | −38.1 | −45.3 | |
| −23 | −38.5 | −38.4 | −38.5 | |
| 13.8 | −14.4 | 14.4 | −13.7 | |
| −15.3 | −20 | −24.4 | −53 | |
| 47.7 | 16.4 | 66.5 | 17.1 | |
| −23 | −38.5 | −38.4 | −38.5 |
Shareholding pattern
- Promoters73.16%
- Public26.84%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 73.16% | 26.84% | plus 2.69 | |
| 30 Jun 2026 | 70.47% | 29.53% | 0.00 | |
| 31 Mar 2026 | 70.47% | 29.53% | 0.00 | |
| 31 Dec 2025 | 70.47% | 29.53% | 0.00 | |
| 30 Sep 2025 | 70.47% | 29.53% | – |
Major shareholders
Filings & events
News
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