Chennai, May 8 (PTI) Gear and gear products manufacturer Shanthi Gears Ltd has reported a 29.72 per cent rise in its profit for the quarter ending March 31, 2022 at Rs 12.22 crore, the company said on Sunday.

The Tamil Nadu-based company and a group firm of diversified conglomerate Murugappa Group had registered net profits at Rs 9.42 crore during corresponding period last year.

For the year ending March 31, 2022, total net grew by 110.5 per cent, to Rs 42.47 crore, from Rs 20.17 crore registered year ago. Total income for the quarter under review grew to Rs 105.92 crore from Rs 74.74 crore registered corresponding quarter previous year.

For the year ending March 31, 2022, total income of the company went up to Rs 346.12 crore, from Rs 223.81 crore registered last fiscal.

The company, a subsidiary of Tube Investments of India Ltd, in a statement said it continues to focus on – revenue growth, profitability, Return on Invested Capital (ROIC) and free cash flow.

During the year, the company recorded revenues of Rs 337.1 crore while for the quarter ending March 31, 2022 it was at Rs 103.6 crore. The Return on Invested Capital improved to 36 per cent in this financial year from 15 per cent in 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 the statement said. PTI VIJ VIJ SS SS

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