Mumbai:The Board of Directors of Shanthi Gears Limited (SGL), a subsidiary of Tube Investments of India Limited (TII), met today and approved the financial results for the quarter and year ended 31st March 2023. Highlights The Company continues to focus on 4 key priorities of Revenue growth, Profitability, ROCE and Free Cash Flow (FCF). SGL delivered strong performance on all these 4 priorities in Q4 and full year: Revenue of ₹ 123.4 Crores in Q4 with a 19% growth over Q4 of previous year (₹ 103.6 Crores). Revenue of ₹ 445.7 Crores in the financial year with a 32% growth over previous year revenue of ₹ 337.1 Crores. The Profit Before Tax (PBT) of ₹ 26.6 Crores in Q4 with a 42% growth over Q4 of previous year (₹ 18.7 Crores). PBT of ₹ 90.2 Crores in the financial year with a 54% growth over previous year PBT of ₹ 58.7 Crores. The Return on Invested Capital (ROIC) improved to 56% in this financial year from 36% in previous year. The Company generated Free Cash Flow (FCF) of ₹ 39.2 Crores during the financial year and registered 15% growth over previous year FCF of ₹ 34.1 Crores. A special and final dividend of Rs.2 per share is proposed by the Board on successful completion of 50 years. The total dividend including the interim dividend already paid is Rs.5 per share (500%) for FY 2022-23.
Founded in 1900, the INR 547 Billion (INR 54,722 crores) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings 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. and Wendt (India) Ltd.
The Group holds leadership position in several product lines including Abrasives, Technical Ceramics, Electro Minerals, Auto Components & Systems, Power Conversion Equipment, Transformers & Reactors for the Power T&D segment, Solutions for Railways in Rolling Stock & Signalling Equipment, Bicycles, Fertilisers, Sugar, Tea and Spirulina (Nutraceuticals). The Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, 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, Rhodius, 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 59,000 employees.
