Chennai:
The turnover of Shanthi Gears Ltd. (SGL), a subsidiary of
the Chennai based Tube Investments of India Ltd, (TII) of the Murugappa Group, for the year was higher at Rs 150.77 crore against Rs. 143.72 Crore in the
previous year, representing a growth of 4.9pc.
The Net Profit for the year was Rs. 18.38 Crores against
Rs. 15.47 Crores in the previous year, a growth of 18.8pc.
SGL was able to establish its capabilities in design,
manufacture and servicing of Vertical Rolling Mill (VRM) and Planetary
Gearboxes with key customers. In addition, the company was able to re-establish
business with most of its past customers across product segments.
Moreover, SGL enhanced its presence in servicing of all
makes of gearboxes by expanding its network of service personnel in all regions
of the country. SGL also strengthened its position with export customers. All
of the above initiatives resulted in the growth of top line when the Industry
was in a downtrend. The Company finished its year with a healthy order book
position.
With improving sentiment and improvement in liquidity
aided by a good harvest and stabilising inflation it is expected that the
growth in the industry will pick up in the coming quarters. The Company will
continue to maintain its focus on growing the customer base, expanding its
product offerings and capabilities, reducing cost and improving execution in
line with customer expectations.
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