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 ₹ 325 Cr.
- Current Price ₹ 135
- High / Low ₹ 397 / 104
- Stock P/E 26.2
- Book Value ₹ 46.8
- 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
* 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 | |
|---|---|---|---|---|---|---|
| 49 | 52 | 57 | 82 | 102 | 132 | |
| 44 | 47 | 52 | 69 | 83 | 114 | |
| Operating Profit | 5 | 5 | 5 | 13 | 19 | 19 |
| OPM % | 11% | 10% | 9% | 16% | 19% | 14% |
| 0 | 0 | 0 | 1 | 0 | 2 | |
| Interest | 3 | 3 | 2 | 2 | 3 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 |
| Profit before tax | 1 | 1 | 2 | 10 | 15 | 17 |
| Tax % | 29% | 40% | 8% | 25% | 26% | 27% |
| 1 | 1 | 2 | 7 | 11 | 12 | |
| EPS in Rs | 10.05 | 6.67 | 17.41 | 71.23 | 6.34 | 5.15 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 32% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 65% |
| 3 Years: | 92% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -59% |
| 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 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 18 | 24 |
| Reserves | 14 | 15 | 16 | 24 | 24 | 89 |
| 20 | 24 | 27 | 24 | 32 | 5 | |
| 18 | 9 | 16 | 10 | 17 | 11 | |
| Total Liabilities | 53 | 49 | 61 | 58 | 91 | 129 |
| 19 | 18 | 19 | 18 | 19 | 19 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 34 | 31 | 42 | 40 | 72 | 110 | |
| Total Assets | 53 | 49 | 61 | 58 | 91 | 129 |
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 | 11 | 31 | ||
| Net Cash Flow | -1 | 3 | -2 | 0 | 21 |
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 | 149 | 140 | 128 | 190 | 213 |
| ROCE % | 10% | 10% | 26% | 30% | 19% |
Documents
Announcements
-
Bagging/Receiving of orders/contracts
28 June 2025 - Rs. 109 Lacs order from reputed EPC company for LT/HT panels, completion by Aug 2025.
-
Bagging/Receiving of orders/contracts
27 June 2025 - Rs. 402 Lacs order for Infra Electrical and Solar Works from reputed client, completion by Feb 2026.
-
Bagging/Receiving of orders/contracts
26 June 2025 - Rs. 105 Lacs order from reputed data center for LT/HT panels, completion by Aug 2025.
-
Updates
23 June 2025 - Audited FY25 standalone results approved; IPO proceeds partially utilized; unmodified audit opinion received.
-
Bagging/Receiving of orders/contracts
20 June 2025 - Rs. 106 Lacs order for LT Switchboard supply from reputed electrical contractors, completion by Aug 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.