Shivalik Bimetal Controls (513097) Q1 24/25 earnings summary

Executive summary

• Achieved significant technological and product diversification, focusing on bimetal, trimetal strips, and shunt resistors for sectors like EVs, energy meters, and battery management systems.

• Maintains a global presence with exports to over 38 countries and a balanced domestic/export sales mix.

• Strategic acquisitions and alliances, such as acquiring CHECON's stake in SEPPL and a JV with ArcelorMittal, have expanded offerings and market reach.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2024.

• Statutory auditors issued unmodified limited review reports for both standalone and consolidated results.

Financial highlights

• Q1 FY25 consolidated revenue from operations was ₹125.98 crore, a 0.95% YoY decline.

• Consolidated net profit for Q1 FY25 was ₹17.82 crore, down 16.24% YoY, with PAT margin at 14.15%.

• Gross margin decreased to 42.01% from 46.68% YoY.

• EBITDA margin dropped to 18.81% from 23.70% YoY.

• Five-year CAGR (FY20–FY24): Revenue 24.48%, PBT 61.19%, PAT 58.00%, EPS 43.98%.

Outlook and guidance

• Focus on building strength in new niche applications and markets, expanding geographical reach, and maintaining R&D leadership.

• Committed to organic and inorganic growth, margin improvements, and remaining debt-free.

• Financial statements note continued application of Indian Accounting Standards and regulatory compliance.