Shanthi gears Limited has formally submitted applications to stock exchanges for the reclassification of a promoter group entity to public shareholder category under SEBI regulations. The company filed the necessary documentation with both BSE Limited and National Stock Exchange of India Limited on January 23, 2026.

Reclassification Details

The reclassification involves Algvista Greentech Private Limited, which is currently categorized as a promoter group entity. The company has provided detailed shareholding information for the entity seeking reclassification:

Regulatory Compliance Process

The reclassification process follows SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under Regulation 31A. Shanthi Gears Limited has maintained transparency throughout the process by providing multiple intimations to the stock exchanges.

The company's compliance timeline includes three key dates:

• December 18, 2025: Initial intimation regarding receipt of reclassification request
• January 22, 2026: Notification of Board of Directors' approval for the reclassification
• January 23, 2026: Submission of formal applications to stock exchanges

Stock Exchange Communication

The company has communicated with both major Indian stock exchanges where its shares are listed. Shanthi Gears trades on NSE under the symbol SHANTIGEAR and on BSE under the code 522034. The formal applications were submitted through the respective electronic platforms - NEAPS for NSE and BSE Listing Centre for BSE.

Corporate Governance Implications

This reclassification represents a change in the company's promoter group structure, though it involves an entity with zero shareholding. The move demonstrates the company's commitment to regulatory compliance and transparent corporate governance practices. The reclassification will formally move Algvista Greentech Private Limited from the promoter group category to public shareholder category upon approval from the stock exchanges.

Shanthi Gears has reported a significant decline in its third quarter financial performance, with net profit falling substantially compared to the same period last year. The gear manufacturing company's latest quarterly results reflect challenging market conditions that impacted its bottom line performance.

Financial Performance Overview

The company's financial metrics for the third quarter show a marked deterioration in profitability compared to the previous year's corresponding period.

Quarter-on-Quarter Analysis

The third quarter results demonstrate the company's reduced profitability, with net profit declining by ₹10.10 crores year-on-year. This represents a substantial decrease of 38.4% compared to the same quarter in the previous fiscal year. The decline indicates operational challenges faced by the company during this reporting period.

Market Context

The reported financial performance reflects the current operating environment for Shanthi Gears. The company, which operates in the gear manufacturing sector, experienced reduced profitability during the third quarter. The year-on-year comparison highlights the significant impact on the company's earnings capacity during this period.

Financial Impact

The substantial decline in net profit from ₹26.30 crores to ₹16.20 crores represents a notable reduction in the company's quarterly earnings. This decrease of over one-third in net profit demonstrates the magnitude of the challenges faced during the quarter. The financial results indicate reduced operational efficiency or market pressures affecting the company's performance during this reporting period.