CHENNAI: Shanthi Gears Limited (SGL), a subsidiary of Tube Investments of India Limited (TII), reported a profit after tax (PAT) of Rs 29.7 cr for the quarter ended September, 30, 2023.
This was 32 per cent more than Rs 22.5 crore recorded in Q2 of the previous quarter. The company continues to focus on four key priorities of revenue growth, profitability, return on invested capital and free cash flow. Its revenue at Rs 135.4 crore in the quarter saw a 25% growth over Q2 of previous year.
Focus on cost optimisation and lower Invested Capital enabled improvement in return on invested capital to 72% during Q2. During the quarter, it booked orders for RS 149 crores with a 43% growth over Q2 of previous year.