Shanthi Gears Ltd, a manufacturer of gears and gear products, reported a profit of Rs 12.22 crore for the quarter ending March 31, 2022, up 29.72% from the previous quarter. During the same period last year, the Tamil Nadu-based company, which is a subsidiary of Murugappa Group, reported net profits of Rs 9.42 crore.
For the year ending March 31, 2022, the company’s total revenue rose to Rs 346.12 crore from Rs 223.81 crore recorded last fiscal year. The company, a subsidiary of Tube Investments of India Ltd, said in a statement that it continues to focus on revenue growth, profitability, return on invested capital (ROIC) and free cash flow.
For the year ending March 31, 2022, the net total increased by 110.5%, to Rs 42.47 crore, from Rs 20.17 crore recorded a year ago. Total revenue for the quarter under review rose to Rs 105.92 crore from Rs 74.74 crore recorded in the corresponding quarter of the previous year.
During the year, the company recorded revenue of Rs 337.1 crore while for the quarter ending March 31, 2022, it was Rs 103.6 crore. Return on invested capital improved to 36% this year from 15% the previous year. The company said it generated free cash flow of Rs 34.1 crore during the financial year. Shanthi Gears in FY22 received orders worth Rs 386 crore, according to the release.
Summary of news:
- Shanthi Gears has more. Fourth quarter net profit increased by 29.72% to Rs 12.22 crore
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