Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
Qtr. Results 
News 
About
Shanthi Gears Ltd (SHANTIGEAR)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522034 NSE: SHANTIGEAR Auto Ancillary | Small Cap | Shanthi Gears Share Price
₹429.05 -2.55 (-0.59%)
As on 17-Jul'26 14:23
Shanthi Gears Ltd (SHANTIGEAR)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522034 NSE: SHANTIGEAR Auto Ancillary | Small Cap | Shanthi Gears Share Price
₹429.05 -2.55 (-0.59%)
As on 17-Jul'26 14:23
Key Metrics
Valuation Multiples
Market Cap
₹3,311 Cr.
Current Price
₹429.1
52-Week Low / High
₹396 / 621
TTM EPS
₹10
TTM Sales
₹519 Cr.
Book Value per Share
₹57.4
P/E Ratio
43.19
In line with its 5-year historical median
Industry PE
45.1
Price to Book (P/B)
7.52
Lower than its 5-year historical median
Price to Sales (P/S)
6.38
In line with its 5-year historical median
EV/EBITDA
26.12
Lower than its 5-year historical median
Dividend Yield
1.17%
Profitability Efficiency
Return on Equity (ROE)
18.19%
Outperforms industry median
Return on Capital Employed (ROCE)
24.45%
Outperforms industry median
Return on Assets (ROA)
14.63%
Operating Profit Margin
20.1%
Net Profit Margin
14.78%
Gross Profit Margin
23.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-14.21%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-19.28%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-20.17%
Asset Quality
Promoter Holding
70.47%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹432 Cr.
Equity
₹7.7 Cr.
Face Value
₹1
All Time Low / High
₹1.85 / 703.55
Check Before You Invest
Quality
Very GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Shanthi Gears Ltd a good quality company?
Shanthi Gears Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Shanthi Gears Ltd performance compare with that of its Peers?
Revenue growth of Shanthi Gears Ltd vs industry peers?
Shanthi Gears Ltd revenue CAGR is 20.07%, compared to the industry median CAGR of 11.89%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Shanthi Gears Ltd?
Promoters hold 70.47% of the Shanthi Gears Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Shanthi Gears Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 16.4% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Shanthi Gears Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.7% | 10.7% | 13.7% | 12.4% | 11.3% | 23.7% | 32.2% | 34% | 34.9% | 24.5% | - |
| Value Creation Index ⓘ | -0.3 | -0.2 | 0.0 | -0.1 | -0.2 | 0.7 | 1.3 | 1.4 | 1.5 | 0.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 184 | 214 | 242 | 242 | 216 | 337 | 446 | 536 | 605 | 519 | 519 |
| Sales YoY Gr. | - | 16.4% | 12.9% | 0.3% | -11% | 56.4% | 32.2% | 20.3% | 12.8% | -14.2% | - |
| Adj EPS ⓘ | 2.7 | 3.4 | 4 | 3.2 | 2.6 | 5.5 | 8.7 | 10.6 | 12.4 | 10.1 | 10 |
| YoY Gr. | - | 24.8% | 17% | -19% | -19.8% | 111.9% | 57.7% | 21.4% | 17.9% | -18.6% | - |
| BVPS (₹) ⓘ | 37.5 | 38.9 | 37 | 29.8 | 30.9 | 33.9 | 39.4 | 45 | 52.5 | 57.4 | 57.4 |
| Adj Net Profit ⓘ | 22.4 | 28 | 32.7 | 24.9 | 19.9 | 42.3 | 66.7 | 80.9 | 95.4 | 77.7 | 77 |
| Cash Flow from Ops. ⓘ | 13.8 | 42.3 | 27.2 | 55.6 | 30.7 | 35 | 63 | 36.4 | 90.9 | 70.1 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 12.2% | 19.2% | 5.2% | -14.2% | ||||
| Adj EPS ⓘ | 15.6% | 31.3% | 5.2% | -18.6% | ||||
| BVPSⓘ | 4.8% | 13.2% | 13.3% | 9.2% | ||||
| Share Price | 13.9% | 23.5% | -2% | -19.3% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 7.6 | 9 | 10.5 | 9.4 | 8.6 | 17 | 23.7 | 25 | 25.5 | 18.4 | 17.4 |
| Op. Profit Mgn % ⓘ | 19.4 | 17.3 | 17 | 14.3 | 12.1 | 17.9 | 20.2 | 19.1 | 21.4 | 20.1 | 20 |
| Net Profit Mgn % ⓘ | 12.2 | 13.1 | 13.5 | 10.3 | 9.2 | 12.5 | 15 | 15.1 | 15.8 | 15 | 14.8 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 374 | 322 | 247 | 208 | 238 | 172 | 141 | 165 | 172 | 186 | 133 |
| Cash Conv. Cycle ⓘ | 148 | 146 | 133 | 116 | 110 | 76 | 67 | 73 | 82 | 97 | 100 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 184 | 214 | 242 | 242 | 216 | 337 | 446 | 536 | 605 | 519 |
| Operating Expenses ⓘ + | 148 | 177 | 201 | 208 | 189 | 277 | 355 | 434 | 475 | 414 |
| Operating Profit ⓘ | 36 | 37 | 41 | 35 | 26 | 60 | 90 | 102 | 129 | 104 |
| Operating Profit Margin (%) | 19.4% | 17.3% | 17.0% | 14.3% | 12.1% | 17.9% | 20.2% | 19.1% | 21.4% | 20.1% |
| Other Income ⓘ + | 11 | 12 | 12 | 7 | 9 | 9 | 11 | 21 | 15 | 20 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Depreciation ⓘ | 18 | 16 | 11 | 8 | 9 | 10 | 11 | 13 | 13 | 16 |
| Profit Before Tax ⓘ | 29 | 33 | 42 | 33 | 26 | 59 | 90 | 110 | 130 | 103 |
| Tax ⓘ | 6 | 5 | 9 | 8 | 6 | 16 | 23 | 27 | 34 | 26 |
| Profit After Tax | 23 | 29 | 33 | 25 | 20 | 42 | 67 | 82 | 96 | 77 |
| PAT Margin (%) | 12.2% | 13.4% | 13.8% | 10.4% | 9.4% | 12.6% | 15.1% | 15.3% | 15.9% | 14.8% |
| Adjusted EPS (₹) | 2.8 | 3.5 | 4.1 | 3.3 | 2.6 | 5.5 | 8.7 | 10.7 | 12.5 | 10.0 |
| Dividend Payout Ratio (%) | 27.20% | 28.60% | 147% | 60.90% | 57% | 45.20% | 57.20% | 46.60% | 39.90% | 50% |
Valuation of Shanthi Gears - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 306 | 318 | 302 | 229 | 237 | 260 | 302 | 345 | 403 | 440 | |
| Debt + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 25 | 24 | 31 | 30 | 55 | 44 | 43 | 55 | 63 | 72 | |
| Others Liabilities ⓘ | 13 | 13 | 15 | 20 | 36 | 50 | 50 | 37 | 33 | 36 | |
| Total Liabilities ⓘ | 344 | 354 | 348 | 279 | 327 | 354 | 395 | 437 | 499 | 549 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 58 | 50 | 52 | 53 | 67 | 59 | 63 | 65 | 72 | 99 | |
| CWIP ⓘ | 1 | 1 | 0 | 6 | 0 | 3 | 2 | 4 | 5 | 26 | |
| Investments ⓘ | 70 | 114 | 124 | 79 | 47 | 50 | 57 | 45 | 88 | 75 | |
| Inventories | 75 | 59 | 70 | 61 | 78 | 64 | 67 | 85 | 80 | 113 | |
| Trade Receivables | 46 | 55 | 57 | 38 | 47 | 72 | 68 | 118 | 137 | 116 | |
| Cash Equivalents | 2 | 1 | 20 | 2 | 56 | 67 | 90 | 8 | 65 | 75 | |
| Others Assets ⓘ | 92 | 75 | 26 | 40 | 32 | 39 | 48 | 112 | 52 | 45 | |
| Total Assets ⓘ | 344 | 354 | 348 | 279 | 327 | 354 | 395 | 437 | 499 | 549 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 14 | 42 | 27 | 56 | 31 | 35 | 63 | 36 | 91 | 70 |
| Cash Flow From Investing Activity ⓘ + | -13 | -26 | 40 | 24 | -18 | -16 | -26 | -12 | -38 | -45 |
| Cash Flow From Financing Activity ⓘ + | 0 | -17 | -49 | -98 | -12 | -19 | -23 | -39 | -38 | -38 |
| Net Cash Flow ⓘ | 1 | -1 | 18 | -18 | 1 | -1 | 14 | -14 | 14 | -14 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.63 | 9.16 | 10.76 | 9.49 | 8.66 | 17.09 | 23.85 | 25.4 | 25.67 | 18.19 |
| ROCE (%) | 9.7 | 10.68 | 13.74 | 12.39 | 11.3 | 23.73 | 32.21 | 34.02 | 34.89 | 24.45 |
| Asset Turnover Ratio | 0.59 | 0.63 | 0.69 | 0.77 | 0.71 | 0.99 | 1.19 | 1.29 | 1.29 | 0.99 |
| PAT to CFO Conversion(x) | 0.61 | 1.45 | 0.82 | 2.24 | 1.55 | 0.83 | 0.94 | 0.44 | 0.95 | 0.91 |
| Working Capital Days | ||||||||||
| Receivable Days | 75.70 | 84.30 | 84.60 | 71.30 | 72.40 | 64.80 | 57.50 | 63.40 | 77 | 89 |
| Inventory Days | 127 | 111.40 | 97.40 | 98.70 | 117.70 | 77 | 53.50 | 51.70 | 50 | 68 |
| Payable Days | 122.80 | 98.50 | 92.40 | 96.20 | 149.50 | 108.20 | 74.10 | 69.90 | 75.70 | 100.80 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Shanthi Gears Ltd FAQs
The current trading price of Shanthi Gears on 17-Jul-2026 14:23 is ₹429.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 16-Jul-2026 the market cap of Shanthi Gears stood at ₹3,311.1 Cr
The latest P/E ratio of Shanthi Gears as of 16-Jul-2026 is 43.19.
The latest P/B ratio of Shanthi Gears as of 16-Jul-2026 is 7.52.
The 52-week high of Shanthi Gears is ₹620.7 and the 52-week low is ₹396.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shanthi Gears is ₹519 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Shanthi Gears Ltd is a good quality company.
The key valuation ratios of Shanthi Gears Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Shanthi Gears Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Shanthi Gears Ltd
It all started in 1969, when ‘Shanthi Engineering & Trading Co.’ was established. This company started manufacturing small gears by way of simple manufacturing process like milling. In 1972, it was converted to Shanthi Gear Products (P) Limited.
Their guiding principle since then has been always “quality gearsâ€. Slowly but steadily their business expanded. So also the quality, range, Customers and services. Soon, they became the No. 1 (loose) gear manufacturer in the country both in terms of quality and volume.
Propelled for growth, in 1980, Shanthi Gears decided to go in for the manufacture of Worm Reduction Gear Boxes. Braving competition from leading manufacturers including multinationals, Shanthi Gears’ Worm Reduction Gear Boxes gained quick market acceptance. Today, it is rated way above the competition.
Simultaneously, production of Helical Gear Boxes also started in single, double, triple, and quadruple reductions and in various combinations. Hollow shaft Gear Boxes were also introduced. Solid shafts and Hollow shaft Bevel Helical Reduction Gear Boxes followed suit. In 1986, Shanthi Gears became a joint stock Company and it is now being listed in the major Stock Exchanges.
The philosophy of Shanthi Gears has been -- the quality of the finished product is always the sum total of the quality of the raw materials and the components put in. Consequently, facilities for manufacturing Patterns, Centrifugal Castings of phosphor bronze rings, Ferrous Castings, Aluminum Castings, Heat Treatment, Forgings, Fabrications and Cutter Manufacturing were also set up, in-house.
Foolproof 'Quality Systems' developed over the years ensures products of superior quality and long lasting performance.
Product range of the company includes:
- Worm Gear Box
- Helical & Bevel Helical Gear Box
- Geared Motor
- Custom-Built Gear Box
- Mill Gear Box
- Open Gearing
- Products for Textile Industries
- CNC Machine Tools
Services offered by the company:
The company act as consultants in the field of engineering design, advisors and purveyors of technical know-how and applied technology, solution providers and business process outsourcers in the field of engineering design and drawing, software programming etc.
- Engineering Design
- Modeling & Drafting.
- Analysis & Simulation.
- Assembly and Animations.
- Reverse Engineering.
- Tooling (Mould & Pattern) Design & Manufacturing.
- Generation of NC Codes and simulation.
- Calibration of machine tools.
- Calibration of Co-ordinate Measuring Machines.
- Performance Evaluation of machine tools and a wide variety of errors can be quantified.
Different manufacturing plants of the company
- Shanthi Gears Limited, A - Unit, 304-A, Trichy Road, Singanallur, Coimbatore , Tamilnadu, India.
- Shanthi Gears Limited, B - Unit, 304-F, Trichy Road, Singanallur, Coimbatore, Tamilnadu, India.
- Shanthi Gears Limited, C - Unit, Avanashi Road, Muthugoundenputhur, Coimbatore, Tamilnadu, India.
- Shanthi Gears Limited, D - Unit, K. Krishnapuram, Kamanaickenpalayam, Palladam, Tamilnadu, India.
- Shanthi Gears Limited, E - Unit, 1812, Trichy Road, Singanallur, Coimbatore, Tamilnadu, India.
- Shanthi Gears Limited, F - Unit, 26, Trichy Road, Kambanthottam, Kannampalayam, Coimbatore, Tamilnadu, India.
Subsidiaries:
- Shanti Engineering Solutions
- Shanti Metrology Services
Awards & Achievements:
It is a 9100B Certified Company
You have 4 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
