Shivalik Bimetal Controls Ltd

Shivalik Bimetal Controls Ltd

₹ 654 4.74%
12 Jul - 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 3,767 Cr.
  • Current Price 654
  • High / Low 750 / 460
  • Stock P/E 46.4
  • Book Value 56.9
  • Dividend Yield 0.18 %
  • ROCE 33.8 %
  • ROE 27.8 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 28.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.5%
  • Company's median sales growth is 18.0% of last 10 years

Cons

  • Stock is trading at 11.5 times its book value
  • Promoter holding has decreased over last 3 years: -9.48%

* 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 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
67 70 76 88 89 98 105 108 110 113 112 112 112
54 54 58 68 70 73 79 80 83 84 85 88 90
Operating Profit 13 16 18 21 19 24 26 28 27 29 28 24 21
OPM % 19% 23% 23% 23% 22% 25% 25% 26% 25% 26% 25% 22% 19%
1 1 1 2 2 2 3 1 2 1 2 1 15
Interest 0 0 0 1 1 2 2 2 2 1 1 1 1
Depreciation 2 1 1 2 2 2 2 2 2 2 2 3 3
Profit before tax 12 15 17 20 18 23 25 24 25 27 27 22 33
Tax % 27% 25% 25% 27% 25% 26% 26% 25% 24% 24% 26% 27% 24%
9 11 13 15 13 17 19 18 19 20 20 16 25
EPS in Rs 1.49 1.94 2.23 2.55 2.30 2.97 3.26 3.17 3.28 3.51 3.42 2.76 4.39
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
78 81 95 99 119 158 193 187 204 324 420 449
71 70 80 85 100 132 158 166 168 251 315 347
Operating Profit 7 11 15 14 19 26 36 21 36 73 105 102
OPM % 9% 14% 16% 14% 16% 16% 18% 11% 18% 23% 25% 23%
1 -1 -1 1 2 4 5 5 4 5 8 20
Interest 4 3 3 4 3 3 4 3 2 3 7 4
Depreciation 2 2 3 4 5 5 5 6 6 6 8 10
Profit before tax 2 4 8 6 14 22 32 16 33 70 98 108
Tax % 35% 15% 41% 37% 38% 27% 29% 23% 26% 26% 25% 25%
1 4 5 4 9 16 23 13 24 52 73 81
EPS in Rs 0.21 0.61 0.86 0.71 1.50 2.78 4.01 2.22 4.19 9.02 12.68 14.08
Dividend Payout % 0% 0% 0% 0% 11% 14% 10% 9% 10% 7% 9% 7%
Compounded Sales Growth
10 Years: 19%
5 Years: 18%
3 Years: 30%
TTM: 7%
Compounded Profit Growth
10 Years: 35%
5 Years: 29%
3 Years: 50%
TTM: 11%
Stock Price CAGR
10 Years: 64%
5 Years: 57%
3 Years: 102%
1 Year: -7%
Return on Equity
10 Years: 24%
5 Years: 27%
3 Years: 30%
Last Year: 28%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 4 4 4 4 4 8 8 8 8 8 12 12
Reserves 49 52 57 61 67 78 98 108 131 180 243 316
41 39 44 42 29 36 45 25 29 58 53 31
18 19 22 19 18 27 26 21 51 56 54 48
Total Liabilities 111 113 127 127 118 148 176 162 218 302 362 408
21 20 35 33 43 45 45 45 46 79 102 107
CWIP 15 18 4 4 4 5 6 18 25 8 3 5
Investments 17 18 18 18 9 9 10 10 10 10 24 24
58 58 71 72 61 89 115 88 137 205 233 271
Total Assets 111 113 127 127 118 148 176 162 218 302 362 408

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
17 10 3 15 12 6 4 41 29 -3 61 68
-4 -5 -5 -2 -3 -7 -7 -14 -15 -24 -37 -14
-13 -5 2 -6 -17 1 3 -27 1 23 -18 -34
Net Cash Flow -0 0 -0 8 -8 0 0 -0 15 -5 6 20

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 86 98 92 89 81 78 65 60 77 67 69 82
Inventory Days 165 141 189 147 153 182 264 172 253 260 216 181
Days Payable 55 62 83 38 48 78 56 41 127 95 61 50
Cash Conversion Cycle 197 178 199 198 187 181 273 192 202 232 224 213
Working Capital Days 124 131 140 124 129 139 166 128 128 152 141 152
ROCE % 5% 8% 13% 10% 16% 23% 27% 13% 22% 35% 38% 34%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
60.61% 60.61% 60.61% 60.61% 60.61% 60.61% 60.60% 60.60% 60.60% 51.09% 51.09% 51.13%
0.00% 0.01% 0.07% 0.21% 0.05% 0.06% 0.07% 0.08% 0.46% 4.18% 3.61% 3.26%
0.06% 0.02% 0.11% 0.13% 0.16% 0.17% 0.17% 0.17% 0.17% 1.45% 1.82% 1.90%
39.33% 39.36% 39.21% 39.05% 39.18% 39.17% 39.17% 39.14% 38.77% 43.28% 43.49% 43.70%
No. of Shareholders 8,42511,83213,92719,77921,41224,94929,59829,68835,65753,11156,26661,155

* 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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