Shanthi Gears Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 25, 2023 at 05:08 am EDT
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Shanthi Gears Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 1,354.2 million compared to INR 1,087.5 million a year ago. Revenue was INR 1,393.6 million compared to INR 1,120.3 million a year ago. Net income was INR 210.2 million compared to INR 166 million a year ago. Basic earnings per share from continuing operations was INR 2.74 compared to INR 2.16 a year ago. Diluted earnings per share from continuing operations was INR 2.74 compared to INR 2.16 a year ago.
For the six months, sales was INR 2,568.7 million compared to INR 2,076 million a year ago. Revenue was INR 2,648 million compared to INR 2,130.2 million a year ago. Net income was INR 391.4 million compared to INR 300.4 million a year ago. Basic earnings per share from continuing operations was INR 5.1 compared to INR 3.92 a year ago. Diluted earnings per share from continuing operations was INR 5.1 compared to INR 3.92 a year ago.
Shanthi Gears Limited is an industrial gearing solutions company. It is engaged in designing and manufacturing gears, gearboxes, geared motors, and gear assemblies, using its integrated manufacturing facilities. It offers a range of products and services, such as gear solutions for a range of applications and specialized gear reconditioning services. Its products include helical gearboxes, bevel helical gearboxes, worm gearboxes, geared motors, extruder gearboxes, cooling tower gearboxes, gears & pinions and special gearboxes sector. Its applications include steel, cement, sugar, crane & material handling, power, paper, rubber and plastics, off-highway and mining, compressors, railways, textile and aerospace. It provides facilities, such as engineering and research and development, foundry, forging and fabrication, heat treatment, CNC turning/machining, hobbing, gear profile grinding and testing toolroom for clutter manufacturing, metrology and calibration, and assurance.