Shanthi Gears Q2 PAT down 27% at ₹15.7 crore

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Revenue from operations declined by 3% to ₹128 crore (₹132 crore)

By BL Chennai Bureau

Updated - October 26, 2026 at 08:35 PM.

The Coimbatore-based manufacturer of gears and gear products achieved its highest-ever order booking of ₹192 crore in Q2, up 37 per cent from the year-ago period | Photo Credit: PhanuwatNandee

Shanthi Gears, a subsidiary of Tube Investments of India Ltd, reported a 27 per cent decrease in net profit to ₹15.7 crore for the second quarter ended September, as against ₹21.5 crore for the same period last year. 

Revenue from operations declined by 3 per cent to ₹128 crore (₹132 crore). An increase in depreciation and amortisation as well as other expenses impacted the bottom line for the September quarter.

The Coimbatore-based manufacturer of gears and gear products achieved its highest-ever order booking of ₹192 crore in Q2, up 37 per cent from the year-ago period. The unexecuted order book as of September 30, 2026, stood at ₹436 crore.

The company achieved a Return on Average Invested Capital of 25 per cent in Q2 FY27 while generating negative free cash flow of ₹1.3 crore.

Shanthi Gears’ share price on the NSE closed at ₹476 on Monday, down ₹7.75 (-1.60 per cent) from the previous day’s close.

Published on October 26, 2026

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