Shivalik Bimetal Controls Ltd // Electronic Components

to
102.65
Pros:
Company has reduced debt.
Company is expected to give good quarter
Company has good consistent profit growth of 56.58% over 5 years
Cons:
The company has delivered a poor growth of 8.41% over past five years.
Company has a low return on equity of 9.97% 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 102.65 21.96 394.20 0.24 5.80 51.71 50.69 37.22 18.82
2. Dynavision 60.00 5.01 23.04 0.00 1.16 8.41 1.65 4.43 141.84
3. Hind Rectifiers 125.00 46.95 207.05 0.00 1.32 174.16 43.28 137.80 7.64
4. Circuit Systems 13.90 12.23 19.28 0.00 5.94
5. Hind.Urban Infra 950.00 106.26 137.07 0.11 7.40 15.08 227.77 13.10 6.82
6. Switching Tech. 72.30 17.89 17.71 0.00 0.41 161.19 4.71 57.00 -46.29
7. Surana Solar 11.00 62.22 54.13 0.00 0.35 9.38 10.99 11.91 7.00

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 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 TTM
64.09 62.46 72.47 70.26 73.59 88.79 79.32 78.08 80.70 95.22 98.85 118.76 173.40
53.91 51.71 63.38 60.44 63.07 75.73 75.48 71.05 70.45 81.06 85.53 100.92 143.94
Operating Profit 10.18 10.75 9.09 9.82 10.52 13.06 3.84 7.03 10.25 14.16 13.32 17.84 29.46
OPM % 15.88% 17.21% 12.54% 13.98% 14.3% 14.71% 4.84% 9.0% 12.7% 14.87% 13.47% 15.02% 16.99%
Other Income 0.32 0.61 2.56 -0.96 1.00 0.65 5.64 0.76 -0.60 0.64 0.77 2.09 2.76
Interest 2.62 3.00 2.95 3.19 2.93 3.10 3.57 3.61 3.17 3.20 3.90 2.48 3.51
Depreciation 1.39 1.52 1.60 1.57 1.68 1.90 2.16 2.34 2.35 3.17 3.69 3.60 4.63
Profit before tax 6.49 6.84 7.10 4.10 6.91 8.71 3.75 1.84 4.13 8.43 6.50 13.85 24.07
Tax 0.93 0.38 0.24 0.09 1.80 2.28 1.12 0.65 0.61 3.49 2.38 4.75 6.11
Net Profit 5.56 6.46 6.86 4.01 5.11 6.43 2.63 1.19 3.53 4.94 4.11 9.11 17.98
EPS (unadj) 2.83 3.24 3.44 2.01 2.58 3.25 1.37 0.62 1.84 2.57 2.14 4.74
Dividend Payout % 17.27% 22.29% 22.39% 21.55% 16.91% 17.92% 0.0% 0.0% 0.0% 0.0% 0.0% 10.54%
Compounded Sales Growth
10 Years:5.64%
5 Years:8.41%
3 Years:13.74%
TTM:34.94%
Compounded Profit Growth
10 Years:2.90%
5 Years:56.58%
3 Years:31.99%
TTM:64.95%
Return on Equity
10 Years:10.51%
5 Years:8.07%
3 Years:9.97%
TTM:13.19%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84
Reserves 22.20 27.76 32.82 35.82 39.92 45.01 47.64 48.83 52.36 57.04 61.15 69.65
Borrowings 22.14 21.98 17.72 24.50 21.99 30.29 50.74 40.79 38.68 44.06 42.48 29.34
20.98 22.21 23.91 17.48 22.58 23.59 17.04 17.92 18.81 22.10 19.16 25.08
Total Liabilities 69.16 75.79 78.29 81.64 88.33 102.73 119.26 111.38 113.69 127.04 126.63 127.91
19.63 19.57 19.10 18.48 17.74 19.81 21.39 21.28 20.08 34.74 32.70 32.00
CWIP 0.73 0.08 0.03 0.27 0.91 0.09 13.49 15.28 17.85 3.97 4.24 4.47
Investments 0.95 0.95 1.44 8.78 9.53 12.15 16.84 16.71 17.53 17.75 17.88 17.88
47.85 55.19 57.72 54.11 60.15 70.68 67.54 58.11 58.23 70.58 71.81 73.56
Total Assets 69.16 75.79 78.29 81.64 88.33 102.73 119.26 111.38 113.69 127.04 126.63 127.91

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
7.07 4.16 11.44 5.48 9.51 3.86 3.83 17.07 9.61 2.74 15.48 11.51
-4.35 -0.46 -1.39 -8.95 -2.67 -7.44 -21.05 -3.94 -4.51 -4.90 -2.11 -3.23
-3.23 -4.04 -8.96 2.46 -6.43 3.79 16.37 -13.46 -5.10 2.13 -5.55 -16.21
Net Cash Flow -0.51 -0.34 1.09 -1.01 0.41 0.21 -0.85 -0.33 0.00 -0.03 7.81 -7.94