Shanthi Gears Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 30, 2024 at 03:41 am EST
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Shanthi Gears Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 1,255.4 million compared to INR 1,146.6 million a year ago. Revenue was INR 1,291.5 million compared to INR 1,176.9 million a year ago. Net income was INR 174.3 million compared to INR 175.4 million a year ago. Basic earnings per share from continuing operations was INR 2.27 compared to INR 2.29 a year ago. Diluted earnings per share from continuing operations was INR 2.27 compared to INR 2.29 a year ago.
For the nine months, sales was INR 3,824.1 million compared to INR 3,222.5 million a year ago. Revenue was INR 3,939.5 million compared to INR 3,307.1 million a year ago. Net income was INR 565.7 million compared to INR 475.8 million a year ago. Basic earnings per share from continuing operations was INR 7.37 compared to INR 6.2 a year ago. Diluted earnings per share from continuing operations was INR 7.37 compared to INR 6.2 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.