Shares of gear and gearbox manufacturer Shanthi Gears Ltd. jumped as much as 4 percent on Tuesday to hit a 52-week high of Rs 428. Shares have risen 20 percent over the last month.

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The stock has now more than doubled from its 52-week low of Rs 182.55, which it fell to on June 20 last year.

Shanthi Gears now has a free-float market capitalisation of Rs 940 crore.

For the March quarter, Shanthi Gears, a subsidiary of Tube Investments of India Ltd., reported a 19 percent year-on-year growth in revenue to Rs 123.4 crore as compared to Rs 103.6 crore in the year-ago period.

Net profit for the period also rose to Rs 19.47 crore, from Rs 12.2 crore in the year-ago period.

Return on Invested Capital (ROIC) improved to 56 percent in the financial year 2022-23 from 36 percent in previous year. The company generated Free Cash Flow of Rs 39.2 crore during the financial year, a growth of 15 percent compared to financial year 2022.

Tube Investments subsidiary Shanthi Gears is known for pioneering gear manufacturing in the country. It is also present in the customised products domain.

Shares of Shanthi Gears are trading 2.5 percent higher at Rs 423.20.