Shivalik Bimetal Controls Ltd

Shivalik Bimetal Controls Limited is engaged in manufacturing Thermostatic Bi-metal/Tri-metal Strips and Parts, and Shunt (Resistors).

Pros:
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 Sector: Electronics // Industry: Electronics - Components

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
27.20 29.01 31.29 31.26 36.94 38.02 41.66 41.29 50.69 50.11 45.28 47.68
23.16 24.75 25.80 25.11 29.78 31.94 36.19 34.30 41.50 40.97 36.29 39.11
Operating Profit 4.04 4.26 5.49 6.15 7.16 6.08 5.47 6.99 9.19 9.14 8.99 8.57
OPM % 14.85% 14.68% 17.55% 19.67% 19.38% 15.99% 13.13% 16.93% 18.13% 18.24% 19.85% 17.97%
Other Income 0.30 0.43 -0.39 0.74 0.42 0.26 1.15 2.25 0.82 0.92 1.33 1.96
Interest 0.89 0.42 0.73 0.50 0.59 0.77 0.72 1.23 0.79 0.97 0.84 0.97
Depreciation 1.10 1.12 1.15 1.17 1.12 1.14 1.16 1.20 1.13 1.17 1.19 1.37
Profit before tax 2.35 3.15 3.22 5.22 5.87 4.43 4.74 6.81 8.09 7.92 8.29 8.19
Tax % 34.47% 24.13% 52.48% 39.66% 35.26% 22.12% 35.23% 17.18% 28.31% 29.80% 28.95% 28.94%
Net Profit 1.53 2.39 1.54 3.16 3.81 3.46 3.07 5.65 5.80 5.56 5.89 5.82
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 98.85 118.66 159.97 193.76
51.64 63.16 59.98 62.73 75.71 75.48 71.05 69.86 80.02 85.33 99.74 132.49 157.87
Operating Profit 10.82 9.31 10.28 10.86 13.08 3.84 7.03 10.84 15.20 13.52 18.92 27.48 35.89
OPM % 17.32% 12.85% 14.63% 14.76% 14.73% 4.84% 9.00% 13.43% 15.96% 13.68% 15.94% 17.18% 18.52%
Other Income 0.54 2.34 -1.42 0.66 0.63 5.64 0.76 -1.19 -0.40 0.57 2.10 2.31 5.03
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 3.57
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 4.86
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 32.49
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 23.07
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:22.70%
Compounded Profit Growth
10 Years:8.51%
5 Years:77.77%
3 Years:42.01%
TTM:44.28%
Return on Equity
10 Years:10.26%
5 Years:11.92%
3 Years:13.79%
Last Year: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 Mar 2019
3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 3.84 7.68 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 97.86
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 40.06
22.21 23.91 17.48 22.58 23.59 17.04 17.92 18.81 22.10 19.16 20.02 27.53 30.47
Total Liabilities 75.79 78.29 81.64 88.33 102.73 119.26 111.38 113.69 127.04 126.63 119.90 148.69 176.07
19.57 19.10 18.48 17.74 19.81 21.39 21.28 20.08 34.74 32.70 43.10 45.20 45.92
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 5.37
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 10.27
55.19 57.72 54.11 60.15 70.68 67.54 58.11 58.23 70.58 71.81 63.02 89.46 114.51
Total Assets 75.79 78.29 81.64 88.33 102.73 119.26 111.38 113.69 127.04 126.63 119.90 148.69 176.07

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

Ratios 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
ROCE % 19.48% 19.03% 13.08% 15.67% 16.33% 4.69% 5.05% 8.38% 12.68% 9.98% 15.92% 22.77%
Debtor Days 156.67 123.24 115.48 124.10 93.44 73.72 86.15 98.33 92.30 88.91 81.27 76.64
Inventory Turnover 3.07 3.21 3.16 3.68 3.82 2.64 2.92 4.03 4.02 3.79 4.80 4.80