Capitaline

For year-to-date (YTD) results analysis

Standalone net sales (including other operating income) of Shanthi Gears for the nine month ended Dec 2023 has increased 18.67% to Rs 382.41 crore.

Operating profit margin has jumped from 19.61% to 19.66%, leading to 18.99% rise in operating profit to Rs 75.18 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 48.48% to 48.51%. Employee cost decreased from 16.50% to 15.29%. Other expenses rose from 15.52% to 16.81%.

Other income up 36.41% to Rs 11.54 crore. PBIDT rose 21.05% to Rs 86.72 crore. Provision for interest remained nil.

PBDT rose 21.05% to Rs 86.72 crore. Provision for depreciation rose 12.38% to Rs 8.99 crore. Profit before tax grew 22.14% to Rs 77.73 crore. Provision for tax was expense of Rs 21.16 crore, compared to Rs 16.06 crore. Effective tax rate was 27.22% compared to 25.24%.Profit after tax rose 18.89% to Rs 56.57 crore.

Others

During the quarter, the Company booked orders for ? 142 Crores with a 19% growth over Q3 of previous year. For nine months ended 31st December 2023, order book grew by 37%.

The Board of Directors have declared an interim dividend of Rs 3/- (Rupees Three only) per Equity Share of Re 1/- each for the financial year 2023-24.

Promoters’ stake was 70.47% as of 31 December 2023 ,compared to 70.47% as of 31 December 2022 .

Quarter ended

Year to Date

Year ended

Particulars

202312

202212

Var.(%)

202312

202212

Var.(%)

202303

202203

Var.(%)

Net Sales (including other operating income)

125.54

114.65

9.50

382.41

322.25

18.67

445.65

337.07

32.21

OPM (%)

18.60

20.14

-154 bps

19.66

19.61

5 bps

20.16

17.82

234 bps

23.35

23.09

1.13

75.18

63.18

18.99

89.83

60.05

49.59

Other Inc.

3.61

3.04

18.75

11.54

8.46

36.41

11.24

9.05

24.20

PBIDT

26.96

26.13

3.18

86.72

71.64

21.05

101.07

69.10

46.27

Interest

PBDT

26.96

26.13

3.18

86.72

71.64

21.05

101.07

69.10

46.27

Depreciation

3.01

2.71

11.07

8.99

12.38

10.88

10.37

4.92

PBT

23.95

23.42

2.26

77.73

63.64

22.14

90.19

58.73

53.57

PBT before EO

23.95

23.42

2.26

77.73

63.64

22.14

90.19

58.73

53.57

EO Income

PBT after EO

23.95

23.42

2.26

77.73

63.64

22.14

90.19

58.73

53.57

Taxation

6.52

5.88

10.88

21.16

16.06

31.76

23.14

16.26

42.31

PAT

17.43

17.54

-0.63

56.57

47.58

18.89

67.05

42.47

57.88

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

17.43

17.54

-0.63

56.57

47.58

18.89

67.05

42.47

57.88

EPS (Rs)*

2.27

2.29

-0.63

7.37

6.20

18.89

8.74

5.54

57.88

* EPS is on current equity of Rs 7.67 crore, Face value of Rs 1, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database