Shivalik Bimetal Controls (513097) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 consolidated revenue from operations was INR 123.28 crore, slightly below INR 126.21 crore in Q3 FY24, reflecting resilience amid global headwinds.

• Q3 FY25 PAT increased to INR 18.24 crore, up 7.56% YoY; 9MFY25 PAT was INR 55.72 crore, down 4.56% YoY.

• Interim dividend of 60% (INR 1.20 per share) declared, with record date set as February 20, 2025.

• New wholly owned subsidiary, Shivalik Bimetals Europe SRL, incorporated in Italy to expand European presence.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.

Financial highlights

• Q3FY25 consolidated revenue from operations declined 2.32% YoY to INR 123.28 crore; 9MFY25 revenue down 1.38% YoY to INR 375.91 crore.

• Q3FY25 PAT up 7.56% YoY to INR 18.24 crore; 9MFY25 PAT down 4.56% YoY to INR 55.72 crore.

• Gross margin for Q3FY25 at 43.57% (up 50 bps YoY); 9MFY25 gross margin at 43.11%.

• Standalone net profit for Q3 FY25: INR 17.52 crore, up from INR 15.92 crore in Q3 FY24.

• Working capital days increased by 34 days to 247 in 9MFY25; inventory days up by 30 to 206.

Outlook and guidance

• Management expects growth momentum to pick up in Q4 and FY26, driven by forward integration and new contracts with global OEMs.

• Guidance for 20%-25% growth over the next two years, factoring in both existing business and new initiatives.

• Focus on high-growth markets such as North America and Western Europe, aiming for 30% market share in key geographies.

• Continued investment in R&D, process innovation, and AI optimization.

• Expansion into Europe via new subsidiary to enhance market reach.