Shanthi Gears Limited Q2FY21 Revenue at ₹ 53.7 Crs and PBT ₹ 8.2 Crs in Q2

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 30th September, 2020.

Highlights

The Company continues to focus on 4 key priorities of Revenue growth, Profitability, ROCE and Free Cash Flow (FCF).

- Revenue of ₹ 53.7 Crores in the quarter with a 24% degrowth over Q2 of previous year.

- The Profit before tax for the quarter was at ₹ 8.2 Crores as against ₹ 11.9 Crores in Q2 of previous year.

- Focus on cost optimisation and lower capital employed enabled to sustain the Return on average Capital Employed (ROCE) to 19% during Q2.

- The Company generated operating free cash flow of ₹ 9.8 Crores during Q2 and Free cash flow to PAT is 148 % in Q2

During the quarter the Company booked orders for ₹ 76 Crores (against ₹ 61 Crores for corresponding quarter of the previous year). Pending orderbook as on 30th September 2020 was ₹ 187 Crores against ₹ 145 Crores in the previous year.

Shares of SHANTHI GEARS LTD. was last trading in BSE at Rs.101.2 as compared to the previous close of Rs. 103.3. The total number of shares traded during the day was 1453 in over 93 trades.

The stock hit an intraday high of Rs. 102.7 and intraday low of 100.45. The net turnover during the day was Rs. 147113.

Source : Equity Bulls

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