The Board of Directors of Shanthi Gears Limited (SGL) a subsidiary of Tube Investments of India Limited (TII), met today and approved the financial results for the quarter and six months ended 30" September 2019.
The Company continues to focus on 4 key priorities of revenue growth,profitability, ROCE and Free Cash Flow (FCF). SGL delivered strong performance on all these 4 priorities:
- Revenue of Rs. 70.9 Crores in the quarter with a 19% growth over Q2 of previous year. Revenue of 2 142.7 Crores in the half year with a 18% growth of over H1 of previous year.
- The Profit before tax for the quarter was higher by 4% at % 11.9 Crores against the corresponding quarter of the previous year. The Profit before tax for the half year was higher by 9% at % 24.5 Crores against half year of the previous year.
- Higher profitability and lower capital employed enabled improvement in Return on average Capital Employed (ROCE) to 29% from 23% of the previous year.
- The Company generated operating free cash flow of % 34 Crores during H1. Cumulative Free cash flow to PAT is 191% in H1.
During the quarter the Company booked orders for % 61 Crores (against = 72 Crores for corresponding quarter of the previous year).
Pending order book as on 30th September 2019 was % 145 Crores against 2 149 Crores in the previous year. The Company made good strides in the replacement market. Growth led strategies of enhancing efficiencies, exploring new markets and enlarging customer base has helped the Company to remain focused ona path to steady growth.
Shares of SHANTHI GEARS LTD. was last trading in BSE at Rs.94.7 as compared to the previous close of Rs. 94. The total number of shares traded during the day was 331 in over 65 trades.
The stock hit an intraday high of Rs. 97 and intraday low of 94.35. The net turnover during the day was Rs. 31638.