Shivalik Bimetal Controls Ltd // Electronic Components

Pros:
Company is expected to give good quarter
Company has good consistent profit growth of 77.77% over 5 years
Cons:
Company has a low return on equity of 13.79% for last 3 years.

Peer Comparison

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Sales Qtr Rs.Cr. Qtr Sales Var % ROCE %
1. Shivalik Bimetal 96.65 20.68 371.16 0.62 5.80 51.71 50.69 37.22 22.77
2. Dynavision 60.00 5.01 23.04 0.00 1.16 8.41 1.65 4.43
3. Hind Rectifiers 109.75 41.22 181.79 0.00 1.32 174.16 43.28 137.80 7.53
4. Circuit Systems 13.90 12.20 19.28 0.00 9.46
5. Ruttonsha Intl. 44.50 30.97 30.97 0.00 0.29 262.50 8.23 58.57 9.27
6. Switching Tech. 66.25 16.39 16.23 0.00 0.41 161.19 4.71 57.00 -26.93
7. Surana Solar 9.30 52.60 45.76 0.00 0.35 9.38 10.99 11.91 4.52

Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018
24.40 24.88 25.44 27.20 29.01 31.29 31.26 36.94 37.97 41.90 42.84 50.69
21.58 20.68 21.79 23.16 24.83 26.77 25.10 29.78 31.94 36.19 34.32 41.49
Operating Profit 2.82 4.20 3.65 4.04 4.18 4.52 6.16 7.16 6.03 5.71 8.52 9.20
OPM % 11.56% 16.88% 14.35% 14.85% 14.41% 14.45% 19.71% 19.38% 15.88% 13.63% 19.89% 18.15%
Other Income 0.07 0.02 0.26 0.30 0.52 0.58 0.74 0.42 0.31 0.91 0.72 0.82
Depreciation 0.92 0.95 0.91 1.10 1.12 1.15 1.17 1.12 1.14 1.16 1.20 1.13
Interest 1.08 0.86 0.78 0.89 0.42 0.73 0.50 0.59 0.77 0.72 1.23 0.79
Profit before tax 0.89 2.40 2.22 2.35 3.15 3.22 5.22 5.87 4.43 4.74 6.81 8.09
Tax 0.28 0.86 1.08 0.81 0.76 1.69 2.07 2.07 0.98 1.67 1.17 2.29
Net Profit 0.61 1.54 1.14 1.53 2.39 1.54 3.16 3.81 3.46 3.07 5.65 5.80

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
62.46 72.47 70.26 73.59 88.79 79.32 78.08 80.70 95.22 98.85 118.66 159.97 173.40
51.71 63.38 60.44 63.07 75.73 75.48 71.05 70.45 81.06 85.53 99.77 132.49 143.94
Operating Profit 10.75 9.09 9.82 10.52 13.06 3.84 7.03 10.25 14.16 13.32 18.89 27.48 29.46
OPM % 17.21% 12.54% 13.98% 14.30% 14.71% 4.84% 9.00% 12.70% 14.87% 13.47% 15.92% 17.18% 16.99%
Other Income 0.61 2.56 -0.96 1.00 0.65 5.64 0.76 -0.60 0.64 0.77 2.13 2.31 2.76
Interest 3.00 2.95 3.19 2.93 3.10 3.57 3.61 3.17 3.20 3.90 2.54 3.31 3.51
Depreciation 1.52 1.60 1.57 1.68 1.90 2.16 2.34 2.35 3.17 3.69 4.54 4.62 4.63
Profit before tax 6.84 7.10 4.10 6.91 8.71 3.75 1.84 4.13 8.43 6.50 13.94 21.86 24.07
Tax % 5.56% 3.38% 2.20% 26.05% 26.18% 29.87% 35.33% 14.77% 41.40% 36.62% 38.24% 26.85%
Net Profit 6.46 6.86 4.01 5.11 6.43 2.63 1.19 3.53 4.94 4.11 8.62 15.99 17.98
EPS in Rs 1.62 1.72 1.01 1.29 1.63 0.69 0.31 0.92 1.29 1.07 2.25 4.16
Dividend Payout % 22.29% 22.39% 21.55% 16.91% 17.92% 0.00% 0.00% 0.00% 0.00% 0.00% 11.14% 14.41%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.24%
5 Years:15.42%
3 Years:18.88%
TTM:34.94%
Compounded Profit Growth
10 Years:8.51%
5 Years:77.77%
3 Years:42.01%
TTM:64.95%
Return on Equity
10 Years:10.26%
5 Years:11.92%
3 Years:13.79%
TTM:20.42%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 7.68
Reserves 27.76 32.82 35.82 39.92 45.01 47.64 48.83 52.36 57.04 61.15 67.40 77.59
Borrowings 21.98 17.72 24.50 21.99 30.29 50.74 40.79 38.68 44.06 42.48 28.64 35.89
22.21 23.91 17.48 22.58 23.59 17.04 17.92 18.81 22.10 19.16 20.02 27.53
Total Liabilities 75.79 78.29 81.64 88.33 102.73 119.26 111.38 113.69 127.04 126.63 119.90 148.69
19.57 19.10 18.48 17.74 19.81 21.39 21.28 20.08 34.74 32.70 43.10 45.20
CWIP 0.08 0.03 0.27 0.91 0.09 13.49 15.28 17.85 3.97 4.24 4.47 4.72
Investments 0.95 1.44 8.78 9.53 12.15 16.84 16.71 17.53 17.75 17.88 9.31 9.31
55.19 57.72 54.11 60.15 70.68 67.54 58.11 58.23 70.58 71.81 63.02 89.46
Total Assets 75.79 78.29 81.64 88.33 102.73 119.26 111.38 113.69 127.04 126.63 119.90 148.69

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
4.16 11.44 5.48 9.51 3.86 3.83 17.07 9.61 2.74 15.48 11.73 5.16
-0.46 -1.39 -8.95 -2.67 -7.44 -21.05 -3.94 -4.51 -4.90 -2.11 -3.10 -7.13
-4.04 -8.96 2.46 -6.43 3.79 16.37 -13.46 -5.10 2.13 -5.55 -16.57 2.01
Net Cash Flow -0.34 1.09 -1.01 0.41 0.21 -0.85 -0.33 0.00 -0.03 7.81 -7.94 0.05