Quarterly Financial Results of Shanthi Gears Ltd PBT up by 43 %

Chennai, 6th February 2018: The Board of Shanthi Gears Ltd. (SGL) a subsidiary of Tube Investments of India Ltd, (TII) met today to discuss the unaudited financial results for the quarter and nine months ended 31 st December, 2017.

The turnover for the quarter was Rs.53.95 Crores against Rs.51.15 Crores in the same quarter last 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 17%. The Profit before tax for the quarter was Rs.9.41 Crores against Rs.6.58 Crores in the same quarter last year, up by 43% and Profit before tax for nine months was Rs.25.92 Crores against Rs.22.40 Crores, up by 16%.

During the quarter, the Company built its order book by Rs.59 Crores which is 13% higher than Q3 of 2016-17. The Company’s order book as on 31st December, 2017 stands at Rs.125 Crores compared to Rs.116 Crores as of same date last year.

The Company continues to remain focused on expanding its customer base, enhancing its dealer and service network and improving the production capabilities through investments in modern technologies.
The Board declared an interim dividend of Re. 1/- per share of Face Value Re. 1/- per share for the Year 2017-18.

About the Murugappa Group:
Founded in 1900, the INR 329 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering
Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., TI Financial Holdings Ltd and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM),Yanmar & Co. and Compagnie Des Phosphat De
Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.

Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 32,000 employees.

For more details, visit www.murugappa.com

For further information, please contact

Sandhya Subramanian
Murugappa Group
+91 95000 72458
sandhyas@corp.murugappa.com

Vinod Kumar
Ogilvy PR Worldwide
+91-9840126179
Vinod.kumar@ogilvy.com