Shanthi Gears Ltd. (SGL), a subsidiary of Tube Investments of India Ltd. (TII), has reported a turnover Rs. 46.42 crores for the quarter ended June 30, 2016 as against Rs. 41.67 crores in the same quarter last year. Profit before tax for the quarter was Rs. 6.63 crores against Rs. 2.46 crores in the previous year. The company focused on enhancing service levels, growing profitable segments, improving operational efficiencies and specific cost reduction initiatives which resulted in higher profitability.
During the quarter, the company built its order book by Rs. 50 crores (PY Rs. 41 crores). The company continues to put efforts to enhance presence in the market such as Steel, Cement and Railways. The company is enhancing its reach by strengthening its sales and service teams and building reference in high potential segments. It could consolidate its position in Defence and Railway segment and secured orders from Railways and Defence.
The company’s current order book is at Rs. 111 crores. The company is planning to invest in modern technology equipment to enhance its capability to service high precision- heavy duty gearboxes.
Founded in 1900, the Rs. 295 billion Murugappa Group is one of India’s leading business conglomerates. The group has 28 businesses including nine-listed companies traded in NSE & BSE. Headquartered in Chennai, the major companies of the group include Carborundum Universal 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., Parry Sugar industries Ltd, Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), 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, Ladybird, Mach City, Ballmaster, Ajax, 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 32,000 employees.
For more details, visit: www.murugappa.com