Shanthi Gears Limited, the Coimbatore-based subsidiary of Tube Investments of India Ltd (TII), reported a 37 per cent decline in net profit to ₹16 crore for the quarter ended March 31, 2026 as against ₹22 crore in the same period last year. Revenue declined by 13 per cent to ₹135 crore (₹153 crore).

For FY26, the company reported a 24 per cent decline in net profit to ₹77 crore as against ₹96 crore in the previous year. Revenue was ₹519 crore, a 14 per cent decline over ₹605 crore reported in the previous year. This de-growth was due to lower order inflow in first half of the fiscal and schedule deferment by customers, the company said in a stock exchange communication.

The company said it achieved its highest-ever order booking of ₹178 crore in Q4 FY26 with 89 per cent growth over Q4 FY25. The unexecuted order book as on March 31, 2026 stood at ₹349 crores, the communication said.

The company’s board has recommended a final dividend of ₹2 per equity share of ₹1 each for FY26 together with the interim dividend of ₹3 per share, paid on February 20, 2026, the total dividend for the fiscal works out to ₹5 per share.

The company informed that PL Suresh would be stepping down as Head – Technology of the effective closing hours of on June 17 to pursue career prospects outside the company.

At the time of filing this report, the company’s share price on the NSE was trading at ₹453, down by ₹31.10 (-6.42 per cent)

Published on May 5, 2026