Date:31/07/2004 URL: http://www.thehindubusinessline.com/2004/07/31/stories/2004073101390400.htm

Back Shanthi Gears Q1 net higher 142 pc

Our Bureau

Coimbatore , July 30

SHANTHI Gears Ltd has recorded 142 per cent growth in its net profit during the first quarter of the current fiscal compared with the corresponding quarter of the previous year. Its bottom line increased to Rs 3.95 crore (Rs 1.63 crore), while the net sales rose by 62.93 per cent to Rs 25.54 crore (Rs 15.68 crore).

Company sources say that the growth in revenue has been on account of the good order booking. According to its Senior Vice-President, Mr P.K.R. Kurup, the company is looking at tapping specific areas such as application of gears in windmill, escalators, aircraft industry and the like.

Stating that the country was importing these special application heavy gears at present, he said, "We have the technology and the wherewithal to manufacture gears for unique applications."