The Board of Shanthi Gears Ltd. (SGL) a subsidiary of Tube Investments of India Ltd, (TII) announced the unaudited financial results for the quarter ended 30th September, 2016. The turnover for the quarter was Rs 49.77 crore against Rs 46.55 crore in the same quarter last year, up by 7%. The Profit before tax for the quarter was Rs 9.19 crore against Rs 8.38 crore in the same quarter last year, up by 10% and Profit before tax for half year was Rs 15.82 crore against Rs 10.83 crore, up by 46%. The company focused on improving operational efficiencies and specific cost reduction initiatives which resulted in higher profitability.
During the quarter, the Company built its order book by Rs 53 crore (PY Rs 41 crore). The company started to build order book through efforts done during the last financial year. The company’s current order book is at Rs 112 crore. Company continues to remain focused on expanding its customer base, enhancing its service network and improving its operating efficiency through investments in modern technology equipment.
