Shanthi Gears Ltd. (SGL), a subsidiary of Tube Investments of India Ltd. (TII), reported standalone net profit for the second quarter ended September more than doubled to ₹16.60 crore from the year-earlier period. Revenue from operations increased by 52% to ₹109 crore, the company said in a regulatory filing.
SGL said it generated free cash flow of ₹11 crore, which was 68% of net profit.
The gear and gear products maker said it had orders for ₹104 crore (₹89 crore) and the pending order book as of September stood at ₹270 crore.
