Shanthi Gears has declared its annual financial results for the fiscal year 2009-10. The company has posted a loss of Rs 16.18 crore for the year that ended in 31st March, 2010.

The net profit of the firm was reported to be Rs 44.06 crore for last year. There has been a drop of 63.27% in the net profit of the company this year against the preceding year.

According to experts, due to the revamp and consolidation measures, the company has registered a loss in the year.

So far as the net sales of the firm are concerned, it has touched Rs 121.38 crore for the year. Last year it was reported to be Rs 252.48 crore. Hence there is a decline of 51.92% in the net sales of the company this year as compared to previous year. This has been informed by company CMD Mr. P Subramanian.

The board has also decided to recommend a dividend of 80% to its investors for the financial year 2009-10 subject to the approval of the share holders.