This paper deals with the performance evaluation of a Shaping mill system involving four essential components viz. one main unit, two associate units and one independent unit. Only one repairman is used for repairing the failed components of all the units. Taking failure rates as exponential and arbitrary repair rates, various system effectiveness measures such as transition probabilities, mean time to system failure, availability, busy period of repairman are calculated. At last profit analysis is done on the basis of above measures.