Shivalik Bimetal Controls (513097) Q3 25/26 earnings summary

Executive summary

• Revenue grew 9% year-over-year for Q3 and the nine-month period, with gross margin and EBITDA margin expansion, despite challenges from U.S. tariffs and volume declines in key segments.

• Export share increased to 56% in FY25, reflecting a robust global footprint and diversified customer base across 38 countries.

• Maintained a net-cash position, strong free cash generation, and zero debt, supporting self-funded growth and resilience.

• Un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved.

• Interim dividend of INR 2 per equity share declared, with record date set for February 13, 2026.

Financial highlights

• Q3 FY26 standalone revenue rose 3.68% YoY to ₹110.13 crore; 9M FY26 revenue up 6.89% YoY to ₹345.24 crore.

• Q3 FY26 gross margin expanded by 338 bps to 50.40%; 9M FY26 gross margin up 265 bps to 49.37%.

• Q3 FY26 EBITDA grew 18.46% YoY to ₹27.56 crore; 9M FY26 EBITDA up 19.69% YoY to ₹84.94 crore.

• Q3 FY26 PAT increased 11.11% YoY to ₹19.47 crore; 9M FY26 PAT up 16.13% YoY to ₹61.32 crore.

• Standalone and consolidated EPS for Q3 FY26 rose to ₹3.38 and ₹3.88, respectively.

Outlook and guidance

• Forward integration into busbars, PCB assemblies, and backward integration in raw materials to drive margin expansion and working capital efficiency.

• Guidance for FY 2027 and beyond is for revenue growth to exceed 9%, aiming for 10%-12% or higher as tariff headwinds subside.

• Geographic expansion, especially in Europe, and strategic acquisitions targeted for future growth.

• Sustained topline growth expected through FY30+, leveraging electrification, EV, and smart meter trends.

• New product line for automotive busbars/connectors to be launched in April 2026, with phased capacity addition starting Q1 FY27.