Shivalik Bimetal Controls Ltd

Shivalik Bimetal Controls Ltd

₹ 740 -2.61%
29 May - close price
About

Incorporated in 1984, Shivalik Bimetal Control Ltd. manufactures thermostatic bimetal/trimetal strips, components, shunt resistors and clad metals. [1]

Key Points

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]

  • Market Cap 4,263 Cr.
  • Current Price 740
  • High / Low 789 / 369
  • Stock P/E 51.7
  • Book Value 73.1
  • Dividend Yield 0.36 %
  • ROCE 27.7 %
  • ROE 21.3 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 22.7%
  • Company has been maintaining a healthy dividend payout of 20.6%

Cons

  • Stock is trading at 10.1 times its book value
  • Promoter holding is low: 33.4%
  • Promoter holding has decreased over last 3 years: -27.2%

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
110 113 112 112 112 107 110 106 114 117 118 110 117
83 84 85 88 90 85 84 83 88 87 90 83 89
Operating Profit 27 29 28 24 21 22 26 23 26 29 28 27 27
OPM % 25% 26% 25% 22% 19% 21% 23% 22% 23% 25% 24% 25% 23%
2 1 2 1 15 3 3 3 3 2 4 2 4
Interest 2 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 2 2 2 3 3 2 2 3 3 3 3 3 3
Profit before tax 25 27 27 22 33 22 26 23 26 28 28 26 27
Tax % 24% 24% 26% 27% 24% 25% 25% 25% 26% 25% 25% 25% 26%
19 20 20 16 25 16 19 18 20 21 21 19 20
EPS in Rs 3.28 3.51 3.42 2.76 4.39 2.83 3.34 3.04 3.39 3.64 3.68 3.36 3.54
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
95 99 119 158 193 187 204 324 420 449 437 462
80 85 100 132 158 166 168 251 315 347 339 350
Operating Profit 15 14 19 26 36 21 36 73 105 102 98 112
OPM % 16% 14% 16% 16% 18% 11% 18% 23% 25% 23% 22% 24%
-1 1 2 4 5 5 4 5 8 20 12 12
Interest 3 4 3 3 4 3 2 3 7 4 3 3
Depreciation 3 4 5 5 5 6 6 6 8 10 10 12
Profit before tax 8 6 14 22 32 16 33 70 98 108 97 110
Tax % 41% 37% 38% 27% 29% 23% 26% 26% 25% 25% 25% 25%
5 4 9 16 23 13 24 52 73 81 73 82
EPS in Rs 0.86 0.71 1.50 2.78 4.01 2.22 4.19 9.02 12.68 14.08 12.60 14.21
Dividend Payout % 0% 0% 11% 14% 10% 9% 10% 7% 9% 12% 21% 28%
Compounded Sales Growth
10 Years: 17%
5 Years: 18%
3 Years: 3%
TTM: 6%
Compounded Profit Growth
10 Years: 35%
5 Years: 28%
3 Years: 4%
TTM: 14%
Stock Price CAGR
10 Years: 58%
5 Years: 62%
3 Years: 13%
1 Year: 49%
Return on Equity
10 Years: 23%
5 Years: 25%
3 Years: 23%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 8 8 8 8 8 12 12 12 12
Reserves 57 61 67 78 98 108 131 180 243 316 376 409
44 42 29 36 45 25 29 58 53 31 23 35
22 19 18 27 26 21 51 56 54 48 50 64
Total Liabilities 127 127 118 148 176 162 218 302 362 408 461 520
35 33 43 45 45 45 46 79 102 106 124 129
CWIP 4 4 4 5 6 18 25 8 3 7 12 12
Investments 18 18 9 9 10 10 10 10 24 24 24 24
71 72 61 89 115 88 137 205 233 271 302 355
Total Assets 127 127 118 148 176 162 218 302 362 408 461 520

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3 15 12 6 4 41 29 -3 61 68 93 52
-5 -2 -3 -7 -7 -14 -15 -24 -37 -14 -52 -54
2 -6 -17 1 3 -27 1 23 -18 -34 -32 -11
Net Cash Flow -0 8 -8 0 0 -0 15 -5 6 20 9 -13
Free Cash Flow -2 13 9 -2 -2 27 15 -28 34 51 68 33
CFO/OP 34% 126% 87% 40% 35% 228% 102% 19% 83% 92% 119% 70%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 92 89 81 78 65 60 77 67 69 82 81
Inventory Days 189 147 153 182 264 172 253 260 216 181 184
Days Payable 83 38 48 78 56 41 127 95 61 50 51
Cash Conversion Cycle 199 198 187 181 273 192 202 232 224 213 214
Working Capital Days 27 4 68 86 105 108 92 104 113 134 135
ROCE % 13% 10% 16% 23% 27% 13% 22% 35% 38% 34% 26%

Insights

In beta
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Dec 2026 (P)
Production Volume - Shunt Resistors
Kgs

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Production Volume - Thermostatic Bimetals
Kgs
Number of Countries Served
Countries
Employee Strength
Number
Number of Global Clients
Groups/Entities
Number of Thermostatic Bimetal Grades
Grades

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

11 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
60.60% 51.09% 51.09% 51.13% 51.14% 33.18% 33.18% 33.18% 33.18% 33.18% 33.18% 33.36%
0.46% 4.18% 3.61% 3.26% 2.73% 3.96% 3.93% 3.63% 3.14% 3.03% 2.59% 1.73%
0.17% 1.45% 1.82% 1.90% 2.33% 20.02% 21.11% 21.06% 21.00% 20.20% 19.71% 20.00%
38.77% 43.28% 43.49% 43.70% 43.80% 42.84% 41.80% 42.13% 42.67% 43.61% 44.54% 44.90%
No. of Shareholders 35,65753,11156,26661,15565,47367,84870,61269,68967,48466,29364,01060,956

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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