Shivalic Power Control Ltd
Incorporated in 2004, Shivalic Power Control Ltd is in the business of manufacturing & sales of LT Panel and ST Panel[1]
- Market Cap ₹ 194 Cr.
- Current Price ₹ 80.2
- High / Low ₹ 279 / 71.0
- Stock P/E 17.4
- Book Value ₹ 49.0
- Dividend Yield 0.00 %
- ROCE 19.4 %
- ROE 16.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 65.2% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 121 days to 208 days
* 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.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 49 | 52 | 57 | 82 | 102 | 132 | 133 | |
| 44 | 47 | 52 | 69 | 83 | 114 | 116 | |
| Operating Profit | 5 | 5 | 5 | 13 | 19 | 19 | 17 |
| OPM % | 11% | 10% | 9% | 16% | 19% | 14% | 13% |
| 0 | 0 | 0 | 1 | 0 | 2 | 1 | |
| Interest | 3 | 3 | 2 | 2 | 3 | 2 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 1 | 1 | 2 | 10 | 15 | 17 | 16 |
| Tax % | 29% | 40% | 8% | 25% | 26% | 27% | |
| 1 | 1 | 2 | 7 | 11 | 12 | 11 | |
| EPS in Rs | 10.05 | 6.67 | 17.41 | 71.73 | 6.34 | 5.15 | 4.61 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 32% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 65% |
| 3 Years: | 92% |
| TTM: | -22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -66% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 23% |
| Last Year: | 16% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 18 | 24 | 24 |
| Reserves | 14 | 15 | 16 | 24 | 24 | 89 | 94 |
| 20 | 24 | 27 | 24 | 32 | 5 | 5 | |
| 18 | 9 | 16 | 10 | 17 | 11 | 24 | |
| Total Liabilities | 53 | 49 | 61 | 58 | 91 | 129 | 147 |
| 19 | 18 | 19 | 18 | 19 | 19 | 19 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 34 | 31 | 42 | 40 | 72 | 110 | 128 | |
| Total Assets | 53 | 49 | 61 | 58 | 91 | 129 | 147 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -1 | 4 | 4 | -8 | -9 | ||
| -1 | -2 | -0 | -2 | -1 | ||
| 1 | 1 | -6 | -3 | 55 | ||
| Net Cash Flow | -1 | 3 | -2 | -13 | 45 |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 63 | 27 | 85 | 59 | 124 | 79 |
| Inventory Days | 205 | 215 | 183 | 142 | 153 | 208 |
| Days Payable | 104 | 55 | 72 | 22 | 50 | 26 |
| Cash Conversion Cycle | 164 | 187 | 196 | 178 | 226 | 261 |
| Working Capital Days | 107 | 53 | 26 | 64 | 92 | 208 |
| ROCE % | 10% | 10% | 26% | 30% | 19% |
Documents
Announcements
-
Updates
1 December 2025 - Unaudited H1 FY2025 results approved (Revenue Rs5,422.07L; PAT Rs516.16L); IPO unutilised Rs2,051.29L
-
Cessation
28 November 2025 - Swati Raheja resigns as Company Secretary & Compliance Officer; relieved effective 18 December 2025.
-
Outcome of Board Meeting
14 November 2025 - Board approved unaudited standalone results for quarter and half-year ended Sep 30, 2025; authorized submission.
-
Outcome of Board Meeting
6 November 2025 - Pravin Kumar Mishra appointed Additional Executive Director effective 31/10/2025; board approved 30/10/2025.
-
Outcome of Board Meeting
30 October 2025 - Appointment of Mr. Pravin Kumar Mishra as Additional Non-Executive Director effective 31/10/2025.
Business Overview:[1]
SPCL, an ISO-certified manufacturer, specializes in LT and HT electric panels, including non-welded, earthquake-resistant (seismic resilient), and internal arc-tested solutions. It also offers customized panels tailored to client needs. With 1,000+ installations for 500+ clients across 20+ industrial sectors in India and abroad.