Shivalik Bimetal Controls Ltd
Incorporated in 1984, Shivalik Bimetal Control Ltd. manufactures thermostatic bimetal/trimetal strips, components, shunt resistors and clad metals. [1]
- Market Cap ₹ 2,552 Cr.
- Current Price ₹ 444
- High / Low ₹ 640 / 342
- Stock P/E 32.2
- Book Value ₹ 73.1
- Dividend Yield 0.61 %
- ROCE 26.0 %
- ROE 20.3 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
Cons
- Promoter holding is low: 33.2%
- Promoter holding has decreased over last 3 years: -27.4%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Iron & Steel Products
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 81 | 95 | 99 | 119 | 158 | 193 | 187 | 204 | 324 | 420 | 449 | 437 | 456 | |
| 70 | 80 | 85 | 100 | 132 | 158 | 166 | 168 | 251 | 315 | 347 | 339 | 348 | |
| Operating Profit | 11 | 15 | 14 | 19 | 26 | 36 | 21 | 36 | 73 | 105 | 102 | 98 | 107 |
| OPM % | 14% | 16% | 14% | 16% | 16% | 18% | 11% | 18% | 23% | 25% | 23% | 22% | 24% |
| -1 | -1 | 1 | 2 | 4 | 5 | 5 | 4 | 5 | 8 | 20 | 12 | 12 | |
| Interest | 3 | 3 | 4 | 3 | 3 | 4 | 3 | 2 | 3 | 7 | 4 | 3 | 3 |
| Depreciation | 2 | 3 | 4 | 5 | 5 | 5 | 6 | 6 | 6 | 8 | 10 | 10 | 11 |
| Profit before tax | 4 | 8 | 6 | 14 | 22 | 32 | 16 | 33 | 70 | 98 | 108 | 97 | 106 |
| Tax % | 15% | 41% | 37% | 38% | 27% | 29% | 23% | 26% | 26% | 25% | 25% | 25% | |
| 4 | 5 | 4 | 9 | 16 | 23 | 13 | 24 | 52 | 73 | 81 | 73 | 79 | |
| EPS in Rs | 0.61 | 0.86 | 0.71 | 1.50 | 2.78 | 4.01 | 2.22 | 4.19 | 9.02 | 12.68 | 14.08 | 12.60 | 13.75 |
| Dividend Payout % | 0% | 0% | 0% | 11% | 14% | 10% | 9% | 10% | 7% | 9% | 12% | 21% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 18% |
| 3 Years: | 11% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 42% |
| 3 Years: | 12% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 51% |
| 5 Years: | 58% |
| 3 Years: | 2% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 26% |
| 3 Years: | 26% |
| Last Year: | 20% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 8 | 8 | 8 | 8 | 8 | 12 | 12 | 12 | 12 |
| Reserves | 52 | 57 | 61 | 67 | 78 | 98 | 108 | 131 | 180 | 243 | 316 | 376 | 409 |
| 39 | 44 | 42 | 29 | 36 | 45 | 25 | 29 | 58 | 53 | 31 | 23 | 35 | |
| 19 | 22 | 19 | 18 | 27 | 26 | 21 | 51 | 56 | 54 | 48 | 50 | 64 | |
| Total Liabilities | 113 | 127 | 127 | 118 | 148 | 176 | 162 | 218 | 302 | 362 | 408 | 461 | 520 |
| 20 | 35 | 33 | 43 | 45 | 45 | 45 | 46 | 79 | 102 | 106 | 124 | 129 | |
| CWIP | 18 | 4 | 4 | 4 | 5 | 6 | 18 | 25 | 8 | 3 | 7 | 12 | 12 |
| Investments | 18 | 18 | 18 | 9 | 9 | 10 | 10 | 10 | 10 | 24 | 24 | 24 | 24 |
| 58 | 71 | 72 | 61 | 89 | 115 | 88 | 137 | 205 | 233 | 271 | 302 | 355 | |
| Total Assets | 113 | 127 | 127 | 118 | 148 | 176 | 162 | 218 | 302 | 362 | 408 | 461 | 520 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 3 | 15 | 12 | 6 | 4 | 41 | 29 | -3 | 61 | 68 | 93 | |
| -5 | -5 | -2 | -3 | -7 | -7 | -14 | -15 | -24 | -37 | -36 | -52 | |
| -5 | 2 | -6 | -17 | 1 | 3 | -27 | 1 | 23 | -18 | -34 | -32 | |
| Net Cash Flow | 0 | -0 | 8 | -8 | 0 | 0 | -0 | 15 | -5 | 6 | -2 | 9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 98 | 92 | 89 | 81 | 78 | 65 | 60 | 77 | 67 | 69 | 82 | 81 |
| Inventory Days | 141 | 189 | 147 | 153 | 182 | 264 | 172 | 253 | 260 | 216 | 181 | 184 |
| Days Payable | 62 | 83 | 38 | 48 | 78 | 56 | 41 | 127 | 95 | 61 | 50 | 51 |
| Cash Conversion Cycle | 178 | 199 | 198 | 187 | 181 | 273 | 192 | 202 | 232 | 224 | 213 | 214 |
| Working Capital Days | 23 | 27 | 4 | 68 | 86 | 105 | 108 | 92 | 104 | 113 | 133 | 135 |
| ROCE % | 8% | 13% | 10% | 16% | 23% | 27% | 13% | 22% | 35% | 38% | 34% | 26% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 19 Nov
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Nov
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Disclosure Under Regulation 31A(3)(Vii) Of SEBI (LODR), 2015
18 Nov - 11 persons reclassified from Promoter to Public after EGM on 18-Nov-2025; updated promoter holdings provided.
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 18 Nov
- Shareholder Meeting / Postal Ballot-Outcome of EGM 18 Nov
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT
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Jun 2023TranscriptAI SummaryPPTREC
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May 2023Transcript PPT REC
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Mar 2023TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
Product Portfolio
The company is engaged in the business of manufacturing & sales of Thermostatic Bimetal /Trimetal strips and Components, Current Sense Metal Strip Shunts/Resistors, SMD Current Sense Resistors and other electron beam welded products.[1] It specializes in joining metals to form bimetal and trimetal strips and components which use niche technology such as electron beam welding, hot diffusion bonding, resistance welding, and continuous brazing. These are critical components used in switchgear, automobiles (including EVs), and in Energy Meters [2]