Shanthi Gears Ltd. (SGL) a subsidiary of Tube Investments of India Ltd, (TII) recently announced its financial results for the quarter ended 30th June, 2018. The turnover for the quarter was higher by 10% in comparison to the same quarter of the previous year and at Rs. 61.95 crore against Rs. 56.49 crore in the same quarter of the previous year.
Net profit after tax for the year was 68% higher at Rs. 8.50 crore against Rs. 5.06 crore in the same quarter of the previous year. The turnover for the current quarter is exclusive of GST, however the turnover for the corresponding quarter in the previous year was inclusive of excise duty. On a like to like comparison the turnover grew by 21% for the quarter and the profit before tax for the quarter was Rs. 11.03 crore against Rs. 6.88 crore in the same quarter last year, up by 60%.
During the quarter the company improved its orderbook position significantly by booking orders for Rs. 73.3 crore (against Rs. 60.5 crore for corresponding quarter of the previous year), a growth of 22%. Pending orderbook as on June 2018 was Rs. 139 crore against Rs. 125 crore in the corresponding quarter of the previous year. Growth led strategies of enhancing efficiencies, exploring new markets and enlarging customer base has helped the Company to remain focused on a path to steady and sustainable growth.
