Shares of this small-cap stock associated with the manufacture of industrial products soared around 8 percent on Wednesday after the company published its financial results for the quarter ended September 2023.
With a market capitalization of Rs 3,431.88 crores, the stocks of Shanthi Gears Limited started their trading session on a flat note at Rs 416.05, but, during the last few hours of trading, the company’s stock zoomed up 8 percent closing at Rs 447.35 apiece.
Such a sudden bearish sentiment around the stock popped up after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced its results for the quarter ended September 2023.
The company, on a QoQ basis, reported an increase in the operating revenues as well as net profits with the former going up from Rs 121 crores during Q1FY23-24 to Rs 135 crores during Q2FY23-24, and, the latter, during the same period, rising from Rs 18 crores to Rs 21 crores.
Moreover, the company, on a YoY basis as well, reported positive movements as far as the abovementioned metrics are concerned.
The operating revenues went up from Rs 109 crores during Q2FY22-23 to Rs 135 crores during Q2FY23-24, and, the net profits, keeping the timeframe the same, took a jump from Rs 17 crores to Rs 21 crores representing an increase of approximately 24 percent.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold a 70.47 percent stake followed by the Public (retail) investors holding the remaining 29.53 percent stake in the company.
Shanthi Gears Limited is a company based in India that is engaged in the design, manufacture, supply, as well as servicing of gears & gearboxes. The company offers standard worm gearboxes, extruders, geared motors, gear assemblies, etc. Geographically, the company caters to customers both, within and outside India.
Written by Amit Madnani
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