Shanthi Gears reports Q4 profit after tax of Rs 19.47 crore in Q4FY23

Gear and allied products manufacturer Shanthi Gears Ltd has reported profit after tax for the quarter ending March 31, 2023 of Rs 19.47 crore, the company said on Wednesday.

The Tamil-Nadu-based company had registered profit after tax at Rs 12.22 crore during the corresponding quarter of the previous year.

For the year ending March 31, 2023 the profit after tax stood at Rs 67.05 crore as against Rs 42.47 crore recorded in the same period last fiscal.

Total income during the quarter under review surged to Rs 126.18 crore from Rs 105.92 crore registered in the corresponding period of last year.

For the year ending March 31, 2023 the total income grew to Rs 456.89 crore from Rs 346.12 crore last year.

In a press release, the company, which is a part of the diversified conglomerate Murugappa Group, said it continues to focus on four key priorities -- revenue growth, profitability, return on invested capital and free cash flow.

During the financial year ended March 31, 2023 the return on invested capital improved to 56 per cent from 36 per cent last year.

The company generated free cash flow of Rs 39.2 crore during the financial year and registered 15 per cent growth over the previous year's figure of Rs 34.1 crore, the release said.

A special and final dividend of Rs two per share is proposed by the board on successful completion of 50 years. The total dividendm, including the interim dividend already paid, is Rs 5 per share (500 per cent) for FY2022-23, it added.