Shanthi Gears Limited (SHANTIGEAR) - Net Assets

Latest as of March 2026: Rs4.40 Billion INR ≈ $47.59 Million USD

Based on the latest financial reports, Shanthi Gears Limited (SHANTIGEAR) has net assets worth Rs4.40 Billion INR (≈ $47.59 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs5.56 Billion ≈ $60.08 Million USD) and total liabilities (Rs1.16 Billion ≈ $12.49 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Shanthi Gears Limited tangible net worth ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs4.40 Billion
% of Total Assets	79.21%
Annual Growth Rate	9.15%
5-Year Change	69.28%
10-Year Change	43.66%
Growth Volatility	13.33

Shanthi Gears Limited - Net Assets Trend (2005–2026)

This chart illustrates how Shanthi Gears Limited's net assets have evolved over time, based on quarterly financial data. See Shanthi Gears Limited (SHANTIGEAR) liquidity interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Shanthi Gears Limited (2005–2026)

The table below shows the annual net assets of Shanthi Gears Limited from 2005 to 2026. For live valuation and market cap data, see Shanthi Gears Limited market capitalisation.

Year	Net Assets	Change
2026-03-31	Rs4.40 Billion ≈ $47.59 Million	+9.20%
2025-03-31	Rs4.03 Billion ≈ $43.58 Million	+16.70%
2024-03-31	Rs3.45 Billion ≈ $37.34 Million	+14.21%
2023-03-31	Rs3.02 Billion ≈ $32.70 Million	+16.31%
2022-03-31	Rs2.60 Billion ≈ $28.11 Million	+9.63%
2021-03-31	Rs2.37 Billion ≈ $25.64 Million	+3.72%
2020-03-31	Rs2.29 Billion ≈ $24.72 Million	-24.32%
2019-03-31	Rs3.02 Billion ≈ $32.67 Million	-4.94%
2018-03-31	Rs3.18 Billion ≈ $34.37 Million	+3.74%
2017-03-31	Rs3.06 Billion ≈ $33.13 Million	+7.84%
2016-03-31	Rs2.84 Billion ≈ $30.72 Million	+4.92%
2015-03-31	Rs2.71 Billion ≈ $29.28 Million	+1.63%
2014-03-31	Rs2.66 Billion ≈ $28.81 Million	+3.42%
2013-03-31	Rs2.58 Billion ≈ $27.86 Million	+3.93%
2012-03-31	Rs2.48 Billion ≈ $26.80 Million	+8.13%
2011-03-31	Rs2.29 Billion ≈ $24.79 Million	+8.71%
2010-03-31	Rs2.11 Billion ≈ $22.80 Million	+4.23%
2009-03-31	Rs2.02 Billion ≈ $21.88 Million	+19.20%
2008-03-31	Rs1.70 Billion ≈ $18.35 Million	+29.02%
2007-03-31	Rs1.32 Billion ≈ $14.22 Million	+40.24%
2006-03-31	Rs937.87 Million ≈ $10.14 Million	+33.88%
2005-03-31	Rs700.52 Million ≈ $7.58 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Shanthi Gears Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs76.70 Million	1.74%
Other Components	Rs4.32 Billion	98.26%
Total Equity	Rs4.40 Billion	100.00%

Shanthi Gears Limited Competitors by Market Cap

The table below lists competitors of Shanthi Gears Limited ranked by their market capitalization.

Company	Market Cap
Zhongxing Shenyang Commercial Building Group Co Ltd SHE:000715	$374.85 Million
Gevo Inc NASDAQ:GEVO	$374.85 Million
Yaxing Chem SHG:600319	$375.01 Million
Marine Electricals (India) Limited NSE:MARINE	$375.18 Million
General Accident PLC LSE:GACA	$374.75 Million
Sinopower Semiconductor TWO:6435	$374.72 Million
Plaza Retail REIT TO:PLZ-UN	$374.70 Million
Tallinna Kaubamaja Grupp AS F:UE8	$374.67 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Shanthi Gears Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 4,029,900,000 to 4,400,600,000, a change of 370,700,000 (9.2%).
Net income of 766,600,000 contributed positively to equity growth.
Dividend payments of 384,700,000 reduced retained earnings.
Other comprehensive income decreased equity by 2,015,700,000.
Other factors increased equity by 2,004,500,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs766.60 Million	+17.42%
Dividends Paid	Rs384.70 Million	-8.74%
Other Comprehensive Income	Rs-2.02 Billion	-45.81%
Other Changes	Rs2.00 Billion	+45.55%
Total Change	Rs-	9.20%

Book Value vs Market Value Analysis

This analysis compares Shanthi Gears Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 7.88x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 52.22x to 7.88x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs8.65	Rs451.80	x
2006-03-31	Rs11.58	Rs451.80	x
2007-03-31	Rs16.28	Rs451.80	x
2008-03-31	Rs20.77	Rs451.80	x
2009-03-31	Rs24.75	Rs451.80	x
2010-03-31	Rs25.80	Rs451.80	x
2011-03-31	Rs28.05	Rs451.80	x
2012-03-31	Rs30.33	Rs451.80	x
2013-03-31	Rs31.52	Rs451.80	x
2014-03-31	Rs32.60	Rs451.80	x
2015-03-31	Rs33.13	Rs451.80	x
2016-03-31	Rs34.76	Rs451.80	x
2017-03-31	Rs37.49	Rs451.80	x
2018-03-31	Rs38.89	Rs451.80	x
2019-03-31	Rs36.97	Rs451.80	x
2020-03-31	Rs29.76	Rs451.80	x
2021-03-31	Rs30.91	Rs451.80	x
2022-03-31	Rs33.89	Rs451.80	x
2023-03-31	Rs39.41	Rs451.80	x
2024-03-31	Rs45.01	Rs451.80	x
2025-03-31	Rs52.54	Rs451.80	x
2026-03-31	Rs57.35	Rs451.80	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Shanthi Gears Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 17.42%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 14.78%
• Asset Turnover: 0.93x
• Equity Multiplier: 1.26x
Recent ROE (17.42%) is above the historical average (15.23%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	27.30%	16.44%	0.75x	2.21x	Rs121.18 Million
2006	29.92%	17.29%	0.63x	2.73x	Rs186.79 Million
2007	25.54%	16.68%	0.67x	2.29x	Rs204.33 Million
2008	26.02%	18.09%	0.77x	1.87x	Rs271.91 Million
2009	21.78%	17.45%	0.70x	1.77x	Rs238.32 Million
2010	7.68%	13.33%	0.44x	1.31x	Rs-49.00 Million
2011	12.16%	17.37%	0.56x	1.26x	Rs49.40 Million
2012	11.35%	16.26%	0.60x	1.17x	Rs33.43 Million
2013	6.01%	10.62%	0.51x	1.12x	Rs-102.88 Million
2014	6.90%	12.19%	0.50x	1.12x	Rs-82.60 Million
2015	3.44%	6.13%	0.50x	1.13x	Rs-177.54 Million
2016	6.42%	11.23%	0.51x	1.12x	Rs-101.66 Million
2017	7.35%	12.50%	0.52x	1.13x	Rs-81.22 Million
2018	8.99%	13.62%	0.58x	1.13x	Rs-31.99 Million
2019	11.04%	14.01%	0.68x	1.17x	Rs31.42 Million
2020	11.02%	10.58%	0.84x	1.24x	Rs23.28 Million
2021	8.51%	9.36%	0.66x	1.37x	Rs-35.43 Million
2022	16.34%	12.87%	0.97x	1.31x	Rs164.74 Million
2023	22.18%	15.05%	1.18x	1.25x	Rs368.15 Million
2024	23.82%	15.34%	1.21x	1.28x	Rs477.19 Million
2025	23.83%	15.88%	1.20x	1.25x	Rs557.31 Million
2026	17.42%	14.78%	0.93x	1.26x	Rs326.54 Million

Industry Comparison

This section compares Shanthi Gears Limited's net assets metrics with peer companies in the Specialty Industrial Machinery industry.

Industry Context

Industry: Specialty Industrial Machinery
Average net assets among peers: $8,885,935,519
Average return on equity (ROE) among peers: 0.87%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Shanthi Gears Limited (SHANTIGEAR)	Rs4.40 Billion	27.30%	0.26x	$374.84 Million
Aaron Industries Limited (AARON)	$93.73 Million	11.30%	0.87x	$28.02 Million
Ador Welding Limited (ADORWELD)	$2.35 Billion	7.84%	0.61x	$184.52 Million
The Anup Engineering Limited (ANUP)	$3.23 Billion	13.31%	0.31x	$480.66 Million
ATAM VALVES ORD (BSE) (ATAM)	$364.70 Million	17.27%	0.48x	$8.92 Million
Azad Engineering Limited (AZAD)	$1.20 Billion	24.55%	2.37x	$1.44 Billion
Bharat Heavy Electricals Limited (BHEL)	$52.96 Billion	12.43%	1.30x	$15.29 Billion
Cummins India Limited (CUMMINSIND)	$20.43 Billion	28.94%	0.52x	$17.56 Billion
Diamond Power Infrastructure Limited (DIACABS)	$6.55 Billion	-122.90%	2.75x	$1.15 Billion
Diffusion Engineers Ltd (DIFFNKG)	$1.42 Billion	15.59%	0.62x	$149.46 Million
Ducon Infratechnologies Limited (DUCON)	$259.30 Million	0.36%	0.44x	$12.51 Million

About Shanthi Gears Limited

NSE:SHANTIGEAR India Specialty Industrial Machinery

Market Cap

$374.84 Million

Rs34.66 Billion INR

Market Cap Rank

#13863 Global

#690 in India

Share Price

Rs451.80

Change (1 day)

-0.11%

52-Week Range

Rs407.20 - Rs602.95

All Time High

Rs682.98