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Shanthi Gears Ltd.

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shanthigears.comBSE: 522034NSE: SHANTIGEAR
Market Cap₹ 5,436 Cr.
Current Price
High / Low₹ 739 / 384
Stock P/E85.2
Book Value₹ 59
Price to Book7.51
Dividend Yield0.71 %
ROCE24.4 %
ROE18.2 %
Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence
74%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 30.6% CAGR over last 5 years
  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 31.1%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23.1%
  • Company has delivered good sales growth of 19.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 50.0%

CONS

  • Recent results are weak - TTM profit is down 32.2% versus prior year
  • Valuation is stretched - P/E of 85.2 is well above its own 5-year median (43.1)
  • Stock is trading at 7.5x its book value
  • Growth is decelerating - 3Y profit CAGR (4.6%) trails the 5Y trend (30.6%)
  • Expensive relative to growth - PEG of 18.7
  • Inventory has been piling up - inventory days up from 50 to 68

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.MOTHERSON163.8039.47172881.770.371075.6677.4835243.7717.7013.638.86
2.BOSCHLTD48900.0061.03144235.930.55706.10-36.745841.9022.0025.6014.08
3.UNOMINDA1230.4559.1071054.450.22315.512.105556.8523.7920.7411.14
4.TIINDIA2685.2585.7051979.010.13293.96-3.046215.3320.2027.338.81
5.SONACOMS800.4571.7949958.360.42178.5146.671301.2052.3814.7522.55
6.ENDURANCE2754.3539.9538743.470.42244.528.034314.8930.0118.3312.42
7.CRAFTSMAN11855.9066.6931008.430.09150.55116.312431.5836.3014.6515.81
8.ZFCVINDIA2471.0056.3328121.340.031044.78753.7510661.76992.8920.2312.93
9.SANSERA4133.0574.0225791.710.1087.3638.711021.2633.2714.2919.18
10.MSUMI36.7138.8024344.831.581453.20915.5134072.601266.1743.727.58
11.GABRIEL1361.0081.0424121.010.371081.26925.3514256.831055.0026.3711.71
12.SHANTIGEAR708.55409.675435.700.719.85-56.59115.49-14.3824.4513.14
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
121135126154139155158153135132117135115
9810710212711012112312210410594111105
Operating Profit23292327293435313127232410
OPM %19.02%21.22%18.60%17.32%20.64%22.03%22.19%20.21%22.62%20.10%19.68%17.68%8.67%
44410334446334
Interest0000000000000
Depreciation3334333444455
Profit before Tax24302432293435313129222214
Tax %24.88%29.13%27.22%19.52%25.18%25.28%25.83%28.49%25.90%25.00%25.01%25.40%30.49%
Net Profit18211726222626222322161610
2.362.742.273.352.823.343.432.932.962.802.112.121.28

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
184214242242216337446536605519499
148177200208189277355434475414416
Operating Profit3637413526609010212910483
OPM %19.42%17.26%17.04%14.33%12.10%17.89%20.24%19.09%21.36%20.10%16.70%
1112127991121151515
Interest00000001000
Depreciation18161189101113131617
Profit before Tax2833423326599011013010386
Tax %21.02%13.84%21.46%22.94%22.63%27.69%25.66%24.98%26.18%25.36%26.01%
Net Profit2329332520426782967764
EPS2.753.504.083.282.635.548.7410.7212.529.99—
Dividend Payout %27.22%28.59%146.99%60.90%57.04%45.15%57.20%46.63%39.94%50.03%—

COMPOUNDED SALES GROWTH

10 Years:
12%
5 Years:
19%
3 Years:
5%

COMPOUNDED PROFIT GROWTH

10 Years:
16%
5 Years:
31%
3 Years:
5%

STOCK PRICE CAGR

10 Years:
20%
5 Years:
33%
3 Years:
12%
1 Year:
29%

RETURN ON EQUITY

10 Years:
16%
5 Years:
22%
3 Years:
23%
Last Year:
18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Jul 17

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2026

Jan 29

₹ 3

Rs.3.0000 per share(300%)Interim Dividend

2025

Jul 18

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2025

Feb 7

₹ 3

Rs.3.0000 per share(300%)Interim Dividend

2024

Jul 19

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2024

Feb 9

₹ 3

Rs.3.0000 per share(300%)Interim Dividend

2023

Jul 14

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2023

Feb 8

₹ 3

Rs.3.0000 per share(300%)Interim Dividend

2022

Feb 14

₹ 2.50

Rs.2.5000 per share(250%)Interim Dividend

2021

Feb 22

₹ 1.50

Rs.1.5000 per share(150%)Interim Dividend

2018

Feb 15

₹ 1

Rs.1.0000 per share(100%)Interim Dividend

2017

Jul 13

₹ 0.75

Rs.0.7500 per share(75%)Final Dividend

2016

Feb 8

₹ 0.50

Rs.0.5000 per share(50%)Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8888888888
298310294221229252295338395432
1101210000
Trade Payables25243130554443556372
12121519335050363336
Total Liabilities344354348279327354395437499549
58505253675963657299
Capital Work in Progress10060324526
7011412479475057458875
755970617864678580113
0000000118137116
Cash & Bank2120256679086575
1381308278801111161125245
Total Assets344354348279327354395437499549

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
20483763355085369170
Cash from Investing-13-264024-18-16-26-12-38-45
Cash from Financing0-17-49-98-12-19-23-39-38-38
1-118-181-114-1414-14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
70.4770.4770.4770.4770.4770.4770.4770.4770.47
3.463.293.253.233.263.223.163.133.13
0.510.730.730.750.480.280.230.230.23
Government0.000.000.000.000.000.000.000.000.00
25.5525.4925.5425.5425.7826.0226.1426.1726.17

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03
Appointment

2026-09-03 - Shanthi Gears Limited has informed the Exchange regarding Appointment of Ms Helena Susan as Head HR of the company w.e.f. September 03, 2026.

2026-09-03
Appointment

2026-09-03 - Shanthi Gears Limited has informed the Exchange regarding Appointment of Mr Sai Krishna Alluri as Chief Financial Officer of the company w.e.f. September 03, 2026.

2026-08-26
Price movement

2026-08-26 - Significant movement in price has been observed in Shanthi Gears Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Shanthi Gears Limited has submitted their response.

2026-08-25
Price movement

2026-08-25 - Significant movement in price has been observed in Shanthi Gears Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.

2026-07-30
Shareholders meeting

2026-07-30 - Shanthi Gears Limited has submitted the Exchange a copy of the Scrutinizer report of the 53rd Annual General Meeting held on Wednesday, the 29th July 2026.

2026-07-30
Copy of Newspaper Publication

2026-07-30 - Shanthi Gears Limited has informed the Exchange about Newspaper Advertisement of Unaudited Financial Results Published on 30th July 2026

2026-07-29
Shareholders meeting

2026-07-29 - Shanthi Gears Limited has informed the Exchange regarding Proceedings of the 53rd Annual General Meeting held on Wednesday, the 29th July 2026 at 04.30 PM

2026-07-29
Resignation

2026-07-29 - Shanthi Gears Limited has informed the Exchange regarding Resignation of Mr. Malliraj S as Head - Strategic Sourcing of the company w.e.f. 15th September, 2026.

2026-07-29
Outcome of Board Meeting

2026-07-29 - Shanthi Gears Limited has submitted to the Exchange, the Unaudited Financial results for the quarter ended 30th June, 2026.

News

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