Shivalik Bimetal Controls Ltd

Shivalik Bimetal Controls Ltd

₹ 538 -1.08%
14 Jun - 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 3,102 Cr.
  • Current Price 538
  • High / Low 750 / 460
  • Stock P/E 36.8
  • Book Value 59.3
  • Dividend Yield 0.22 %
  • ROCE 33.0 %
  • ROE 27.8 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 27.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.3%

Cons

  • Stock is trading at 9.07 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

Consolidated Figures in Rs. Crores / View Standalone

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 89 111 118 118 124 127 128 126 128
54 54 58 68 70 85 91 91 96 97 99 101 106
Operating Profit 13 16 18 21 19 25 27 27 28 30 29 25 22
OPM % 19% 23% 23% 23% 22% 23% 23% 23% 23% 24% 23% 20% 17%
2 1 2 3 3 6 3 1 2 2 2 2 16
Interest 0 0 0 1 1 2 2 2 2 1 1 1 1
Depreciation 2 1 1 2 2 2 3 3 3 3 3 3 3
Profit before tax 13 15 18 21 19 28 26 23 26 28 27 23 33
Tax % 26% 24% 25% 26% 24% 21% 26% 28% 16% 24% 26% 26% 23%
9 12 14 16 14 22 19 17 22 21 20 17 26
EPS in Rs 1.62 2.01 2.35 2.69 2.51 3.77 3.34 2.89 3.73 3.69 3.53 2.94 4.46
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
75 76 95 109 119 158 193 187 204 324 470 509
66 66 85 95 100 132 158 166 168 251 361 403
Operating Profit 9 11 10 14 19 26 36 21 36 73 109 106
OPM % 12% 14% 11% 13% 16% 16% 18% 11% 18% 23% 23% 21%
0 1 2 0 2 5 7 5 6 9 11 22
Interest 3 3 4 4 3 3 4 3 2 3 7 5
Depreciation 2 2 3 4 5 5 5 6 6 6 11 12
Profit before tax 5 7 5 6 14 23 34 17 34 73 102 112
Tax % 4% 28% 50% 42% 40% 27% 29% 22% 26% 25% 23% 25%
5 5 3 3 8 17 25 13 25 55 79 84
EPS in Rs 0.79 0.82 0.47 0.58 1.43 2.87 4.28 2.34 4.43 9.57 13.73 14.63
Dividend Payout % 19% 18% 42% 0% 12% 14% 9% 9% 9% 7% 9% 7%
Compounded Sales Growth
10 Years: %
5 Years: 21%
3 Years: 36%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: 28%
3 Years: 49%
TTM: 7%
Stock Price CAGR
10 Years: 60%
5 Years: 49%
3 Years: 97%
1 Year: -15%
Return on Equity
10 Years: %
5 Years: 27%
3 Years: 31%
Last Year: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 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 37 41 42 51 65 75 97 108 132 184 254 330
25 31 41 47 29 36 45 25 29 58 59 42
22 25 30 23 18 28 27 23 52 58 66 59
Total Liabilities 87 101 116 125 116 147 176 163 221 308 390 443
20 35 37 41 43 45 45 45 46 79 118 121
CWIP 9 1 3 4 4 5 6 18 25 8 7 13
Investments 0 0 0 1 7 8 11 11 13 17 8 11
58 65 76 78 61 89 115 88 137 205 258 298
Total Assets 87 101 116 125 116 147 176 163 221 308 390 443

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
8 8 2 16 12 6 4 41 30 -3 66 69
-10 -9 -7 -2 -3 -7 -7 -14 -15 -24 -41 -18
3 2 4 -6 -17 1 3 -27 0 23 -18 -29
Net Cash Flow 0 1 -1 8 -8 0 0 -0 15 -5 7 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 115 122 106 88 81 78 65 60 77 67 72 82
Inventory Days 180 165 221 150 153 182 264 172 253 260 196 165
Days Payable 116 87 115 46 48 78 56 41 127 95 63 50
Cash Conversion Cycle 180 199 212 192 187 181 273 192 202 232 206 196
Working Capital Days 173 183 181 123 129 139 166 128 128 152 137 146
ROCE % 14% 14% 12% 16% 24% 28% 14% 23% 36% 38%

Shareholding Pattern

Numbers in percentages

6 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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