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Last Updated: April 2, 2026, 3:38 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 522034 | NSE: SHANTIGEAR

Shanthi Gears Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹468.80Fairly Valued by 6.55%vs CMP ₹440.00

P/E (40.2) × ROE (25.6%) × BV (₹56.30) × DY (1.14%)

₹210.35Overvalued by 52.19%vs CMP ₹440.00
MoS: -109.2% (Negative)Confidence: 66/100 (Moderate)Models: 1 Under, 9 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹535.7621%Under (+21.8%)
Graham NumberEarnings₹116.9715%Over (-73.4%)
Earnings PowerEarnings₹88.9110%Over (-79.8%)
DCFCash Flow₹213.1113%Over (-51.6%)
Net Asset ValueAssets₹56.327%Over (-87.2%)
EV/EBITDAEnterprise₹222.158%Over (-49.5%)
Dividend DiscountDividends₹82.508%Over (-81.3%)
Earnings YieldEarnings₹108.007%Over (-75.5%)
ROCE CapitalReturns₹51.067%Over (-88.4%)
Revenue MultipleRevenue₹118.315%Over (-73.1%)
Consensus (10 models)₹210.35100%Overvalued
Key Drivers: Wide model spread (₹51–₹536) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 14.3%

*Investments are subject to market risks

Investment Snapshot

62
Shanthi Gears Ltd scores 62/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 34.9% ExcellentROE 25.6% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money40/100 · Moderate
FII holding stable No changeDII holding down 0.52% MF sellingPromoter holding at 70.5% Stable
Earnings Quality50/100 · Moderate
OPM stable around 20% Steady
Quarterly Momentum25/100 · Weak
Revenue (4Q): -11% YoY DecliningProfit (4Q): -17% YoY Declining
Industry Rank85/100 · Strong
P/E 40.2 vs industry 42.3 In-lineROCE 34.9% vs industry 25.4% Above peersROE 25.6% vs industry 19.0% Above peers3Y sales CAGR: 22% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:38 am

Market Cap 3,375 Cr.
Current Price 440
Intrinsic Value₹210.35
High / Low 621/386
Stock P/E40.2
Book Value 56.3
Dividend Yield1.14 %
ROCE34.9 %
ROE25.6 %
Face Value 1.00
PEG Ratio2.81

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Shanthi Gears Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Shanthi Gears Ltd 3,375 Cr. 440 621/38640.2 56.31.14 %34.9 %25.6 % 1.00
JTEKT India Ltd 3,477 Cr. 125 189/10744.3 27.50.56 %15.9 %12.4 % 1.00
Industry Average3,426.00 Cr282.5042.2541.900.85%25.40%19.00%1.00

All Competitor Stocks of Shanthi Gears Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 115123121135126154139155158153135132117
Expenses 92979810710212711012112312210410594
Operating Profit 23272329232729343531312723
OPM % 20%22%19%21%19%17%21%22%22%20%23%20%20%
Other Income 33444103344463
Interest 0000000000000
Depreciation 3333343334444
Profit before tax 23272430243229343531312922
Tax % 25%27%25%29%27%20%25%25%26%28%26%25%25%
Net Profit 18191821172622262622232216
EPS in Rs 2.292.542.362.742.273.352.823.343.432.932.962.802.11

Last Updated: February 4, 2026, 6:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 6:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 155155164183214242242216337446536605537
Expenses 113136134147177200208189277355434475426
Operating Profit 42183136374135276090102129111
OPM % 27%12%19%20%17%17%14%12%18%20%19%21%21%
Other Income 1012911121278911211516
Interest 0000000000100
Depreciation 261717181611891011131315
Profit before tax 26132328334233265990110130112
Tax % 29%29%23%21%14%21%23%23%28%26%25%26%
Net Profit 1891823293325204267829683
EPS in Rs 2.251.142.172.753.504.083.282.635.548.7410.7212.5210.80
Dividend Payout % 44%44%23%27%29%147%61%57%45%57%47%40%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-50.00%100.00%27.78%26.09%13.79%-24.24%-20.00%110.00%59.52%22.39%17.07%
Change in YoY Net Profit Growth (%)0.00%150.00%-72.22%-1.69%-12.29%-38.04%4.24%130.00%-50.48%-37.14%-5.31%

Shanthi Gears Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:20%
3 Years:22%
TTM:9%
Compounded Profit Growth
10 Years:27%
5 Years:31%
3 Years:31%
TTM:13%
Stock Price CAGR
10 Years:20%
5 Years:39%
3 Years:22%
1 Year:-10%
Return on Equity
10 Years:15%
5 Years:21%
3 Years:25%
Last Year:26%

Last Updated: September 5, 2025, 1:26 pm

Balance Sheet

Last Updated: December 10, 2025, 3:23 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 8888888888888
Reserves 258263276298310294221229252295338395424
Borrowings 0000000000000
Other Liabilities 313634414251548881759710194
Total Liabilities 298306318348360353283325341377443504526
Fixed Assets 95826665575960746670727979
CWIP 4401006032457
Investments 5016637011412479475057458899
Other Assets 149205189212189170138205221248321332341
Total Assets 298306318348360353283325341377443504526

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 29-646144227563135633691
Cash from Investing Activity + -1210-43-13-264024-18-16-26-12-38
Cash from Financing Activity + -15-5-50-17-49-98-12-19-23-39-38
Net Cash Flow 2-1-21-118-181-114-1414
Free Cash Flow 25263583716381630481867
CFO/OP 100%7%179%55%131%90%182%131%83%94%61%96%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow42.0018.0031.0036.0037.0041.0035.0027.0060.0090.00102.00129.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 648786929585588078568083
Inventory Days 335371403397238237192275141113121103
Days Payable 132134129132961059519397737980
Cash Conversion Cycle 26732535935723721815416312296123106
Working Capital Days 13518030831723013510487695613588
ROCE %10%5%8%10%10%13%12%11%24%32%33%35%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%70.47%
FIIs 3.70%3.73%3.61%3.44%3.49%3.46%3.29%3.25%3.23%3.26%3.22%3.16%
DIIs 0.84%0.68%0.62%0.58%0.49%0.51%0.73%0.73%0.75%0.48%0.28%0.23%
Public 24.98%25.11%25.30%25.51%25.54%25.56%25.50%25.54%25.55%25.78%26.03%26.14%
No. of Shareholders 24,01626,58329,39330,32926,24025,40526,47127,75928,49729,01029,46130,013

Shareholding Pattern Chart

No. of Shareholders

Shanthi Gears Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Bank of India Small Cap Fund 209,000 1.48 12.55209,0002025-04-22 15:56:530%
Motilal Oswal Nifty Microcap 250 Index Fund 25,068 0.24 1.5125,0682025-04-22 15:56:530%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 12.5210.728.745.542.63
Diluted EPS (Rs.) 12.5210.728.745.542.63
Cash EPS (Rs.) 14.2512.4510.166.893.78
Book Value[Excl.RevalReserv]/Share (Rs.) 52.5445.0239.4233.8930.92
Book Value[Incl.RevalReserv]/Share (Rs.) 52.5445.0239.4233.8930.92
Dividend / Share (Rs.) 5.005.005.002.501.50
Revenue From Operations / Share (Rs.) 78.8369.8958.1043.9528.10
PBDIT / Share (Rs.) 18.6916.0213.189.014.55
PBIT / Share (Rs.) 16.9614.2911.767.663.40
PBT / Share (Rs.) 16.9614.2911.767.663.40
Net Profit / Share (Rs.) 12.5210.728.745.542.63
PBDIT Margin (%) 23.7122.9122.6720.5016.20
PBIT Margin (%) 21.5120.4520.2317.4212.09
PBT Margin (%) 21.5120.4520.2317.4212.09
Net Profit Margin (%) 15.8815.3415.0412.599.35
Return on Networth / Equity (%) 23.8223.8122.1716.338.50
Return on Capital Employeed (%) 32.2131.7029.7822.5110.88
Return On Assets (%) 19.0418.5717.7412.466.19
Asset Turnover Ratio (%) 1.281.311.241.010.70
Current Ratio (X) 3.803.383.602.992.48
Quick Ratio (X) 3.002.502.722.191.57
Inventory Turnover Ratio (X) 7.307.063.282.281.55
Dividend Payout Ratio (NP) (%) 39.9446.6734.3145.1657.06
Dividend Payout Ratio (CP) (%) 35.0840.2129.5236.2939.64
Earning Retention Ratio (%) 60.0653.3365.6954.8442.94
Cash Earning Retention Ratio (%) 64.9259.7970.4863.7160.36
Enterprise Value (Cr.) 3551.654241.652700.271315.92917.83
EV / Net Operating Revenue (X) 5.877.916.063.904.26
EV / EBITDA (X) 24.7734.5326.7219.0426.28
MarketCap / Net Operating Revenue (X) 5.987.936.264.104.52
Retention Ratios (%) 60.0553.3265.6854.8342.93
Price / BV (X) 8.9712.319.235.324.11
Price / Net Operating Revenue (X) 5.987.936.264.104.52
EarningsYield 0.020.010.020.030.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Shanthi Gears Ltd. is a Public Limited Listed company incorporated on 01/07/1972 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L29130TZ1972PLC000649 and registration number is 000649. Currently Company is involved in the business activities of Manufacture of bearings, gears, gearing and driving elements. Company's Total Operating Revenue is Rs. 604.62 Cr. and Equity Capital is Rs. 7.67 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Gears & Drive304-A, Trichy Road, Singanallur, Coimbatore Tamil Nadu 641005Contact not found
Management
NamePosition Held
Mr. M A M ArunachalamChairman
Mr. M KarunakaranWholeTime Director & CEO
Mr. L RamkumarNon Executive Director
Ms. Soundara KumarNon Executive Director
Mr. Mukesh AhujaNon Executive Director
Dr. S K SudararamanNon Executive Director
Mr. Arun VenkatachalamNon Executive Director
Mr. A VenkataramaniIndependent Director

FAQ

What is the intrinsic value of Shanthi Gears Ltd and is it undervalued?

As of 17 April 2026, Shanthi Gears Ltd's intrinsic value is ₹210.35, which is 52.19% lower than the current market price of ₹440.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (25.6 %), book value (₹56.3), dividend yield (1.14 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Shanthi Gears Ltd?

Shanthi Gears Ltd is trading at ₹440.00 as of 17 April 2026, with a FY2026-2027 high of ₹621 and low of ₹386. The stock is currently near its 52-week low. Market cap stands at ₹3,375 Cr..

How does Shanthi Gears Ltd's P/E ratio compare to its industry?

Shanthi Gears Ltd has a P/E ratio of 40.2, which is below the industry average of 42.25. This is broadly in line with or below the industry average.

Is Shanthi Gears Ltd financially healthy?

Key indicators for Shanthi Gears Ltd: ROCE of 34.9 % indicates efficient capital utilization; ROE of 25.6 % shows strong shareholder returns. Dividend yield is 1.14 %.

Is Shanthi Gears Ltd profitable and how is the profit trend?

Shanthi Gears Ltd reported a net profit of ₹96 Cr in Mar 2025 on revenue of ₹605 Cr. Compared to ₹42 Cr in Mar 2022, the net profit shows an improving trend.

Does Shanthi Gears Ltd pay dividends?

Shanthi Gears Ltd has a dividend yield of 1.14 % at the current price of ₹440.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Shanthi Gears Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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