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 ₹ 181 Cr.
- Current Price ₹ 75.1
- High / Low ₹ 139 / 70.1
- Stock P/E 16.3
- 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: | -31% |
| 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% |
Insights
In beta| Mar 2021 | Mar 2022 | Dec 2023 | Mar 2025 | |
|---|---|---|---|---|
| Capacity Utilization (Based on 3 Shifts) % |
|
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| Actual Production Volume Verticals |
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| Installed Production Capacity Verticals per Annum |
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| Revenue from HT Panels INR Lakhs |
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| Revenue from LT Panels INR Lakhs |
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| Employee Headcount Number |
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| Number of Clients Catered Count |
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| Geographic Presence (Countries) Count |
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Documents
Announcements
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Resignation
6 March 2026 - Mr. Tarun Aggarwal resigned as Non-Executive Director effective March 06, 2026.
-
Appointment
6 March 2026 - Appointed Sunil Kumar Singh as Additional Non-Executive Director effective 06/03/2026; term until next AGM.
-
Outcome of Board Meeting
6 March 2026 - Sunil Kumar Singh appointed Additional Director; Tarun Aggarwal resigned, effective 06/03/2026.
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Outcome of Board Meeting
21 February 2026 - Shivalic to acquire 51.64% (24,22,066 shares) of Somaya Solar for Rs.6,53,95,782; board approved Feb 21, 2026.
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Shareholders meeting
19 February 2026 - EGM (18 Feb 2026): shareholders approved IPO proceeds ratification, MOA amendment, and increased borrowing limits; 71.48% turnout.
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.