In an exchange filing, Tube Investments of India said that it has acquired 20.64 lakh equity shares, or an additional 2.7% stake in Shanthi Gears through block deals earlier in the day.
As a result of this acquisition, Tube Investments’ shareholding in Shanthi Gears has increased from 70.4% to 73.1%.
Shanthi Gears Ltd. is involved in the business of design and manufacture of gears, gearboxes, geared motors, and gear assemblies, and refurbishing & repairing of gearboxes.
In the recently concluded June quarter earnings season, the company reported a weak set of results. The Murugappa Group-owned company reported a 15% year-on-year decline in consolidated profit for the quarter ended June 30, 2026.
Its consolidated profit stood at ₹168.6 crore in the June quarter. This figure was lower than the ₹198.9 crore in the corresponding quarter of the previous year. Revenue rose 17% to ₹6,215.1 crore from ₹5,309.1 crore a year earlier.
More specifically, the company’s Gears and Gear Products business revenue stood at ₹115.13 crore against ₹134.70 crore in the previous cycle.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) during the quarter stood at ₹547.8 crore, compared to ₹546.2 crore in the year-ago period, while its margins narrowed to 8.8% from 10.3% last year.Shares of Tube Investments of India are little changed on Friday at ₹2,922. Over the last six months, the stock has gained over 15%.
With the 18%-plus move seen on Shanthi Gears on Friday, the stock has turned positive for the last one month, gaining 5.4%.
Despite this surge, the stock is still down over 25% from its 52-week high of ₹598 per share. The stock is still down 4% on a year-to-date basis.
Also Read: Tube Investments Q1 profit falls 15% as margins contract despite revenue growth
