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Shanthi Gears Q2 FY27 Share Price & Earnings Call Analysis

₹480.45+2.02% today
Market cap
₹3,685 Cr
P/E
54.74
ROE
19.00%
PEG
8.88
Price to sales
7.39
Debt to equity
0.00
52W high / low
₹725 / ₹387
Sales growth (5Y)
19.20%
EBITDA margin
17.74%
Net profit margin
15.44%
Promoter holding
73.16%
Sales (last year)
₹499 Cr

Shanthi Gears Ltd is in the business of design, manufacture, supply and servicing of gears and gear boxes.[1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Manufacturing
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Shanthi Gears Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Manufacturing companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹1,185 Cr109.0
240%+Up 0–2%₹486 Cr29.9
340%+Flat₹7,897 Cr92.3
440%+Flat₹3,421 Cr74.4
540%+Flat₹2,461 Cr58.4
640%+Flat₹681 Cr40.0

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Financials of Shanthi Gears Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Shanthi Gears Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%73.16%
FIIs +3.44%3.49%3.46%3.29%3.25%3.23%3.26%3.22%3.16%3.13%3.13%0.18%
DIIs +0.58%0.49%0.51%0.73%0.73%0.75%0.48%0.28%0.23%0.23%0.23%0.24%
Public +25.51%25.54%25.56%25.50%25.54%25.55%25.78%26.03%26.14%26.16%26.16%26.42%
No. of Shareholders30,32926,24025,40526,47127,75928,49729,01029,46130,01328,91328,52928,374

Financials of Shanthi Gears Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +135126154139155158153135132117135115128
Expenses +10710212711012112312210410594111100105
Operating Profit29232729343531312723241523
OPM %21%19%17%21%22%22%20%23%20%20%18%13%18%
Other Income +44103344463343
Interest0000000000000
Depreciation3343334444555
Profit before tax30243229343531312922221420
Tax %29%27%20%25%25%26%28%26%25%25%25%30%22%
Net Profit +21172622262622232216161016
EPS in Rs2.742.273.352.823.343.432.932.962.802.112.121.282.05

Financials of Shanthi Gears Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +155164183214242242216337446536605519495
Expenses +136134147177200208189277355434475414411
Operating Profit18313637413527609010212910485
OPM %12%19%20%17%17%14%12%18%20%19%21%20%17%
Other Income +1291112127891121151512
Interest0000000001000
Depreciation171718161189101113131619
Profit before tax13232833423326599011013010378
Tax %29%23%21%14%21%23%23%28%26%25%26%25%
Net Profit +9182329332520426782967758
EPS in Rs1.142.172.753.504.083.282.635.548.7410.7212.529.997.56
Dividend Payout %44%23%27%29%147%61%57%45%57%47%40%50%

Financials of Shanthi Gears Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital8888888888888
Reserves263276298310294221229252295338395432442
Borrowings +0000000000005
Other Liabilities +36344142515488817597101116109
Total Liabilities306318348360353283325341377443504556564
Fixed Assets +8266655759607466707279106124
CWIP401006032452615
Investments1663701141247947505745887566
Other Assets +205189212189170138205221248321332348359
Total Assets306318348360353283325341377443504556564

Financials of Shanthi Gears Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-64614422756313563369170
Cash from Investing Activity +10-43-13-264024-18-16-26-12-38-45
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
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit7%179%55%131%90%182%131%83%94%61%96%95%

Financials of Shanthi Gears Ltd

Ratios

Working capital efficiency and return ratios

Mar 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 %5%8%10%10%13%12%11%24%32%33%35%26%
30out of 100

Momentum score · price trend

30 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−4.0%56%
Last 6 months−2.7%50%
Last 3 months+13.5%85%

The price is 35.1% below its all-time high of ₹725.45 (10 Sept 2026). Stocks more than 20% below their peak have their score halved, so 60 became 30.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Shanthi Gears Ltd: 0.4 × 56 + 0.4 × 50 + 0.2 × 85 = 60, halved to 30 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Shanthi Gears Ltd's management said in earlier quarters

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