Shivalik Bimetal Controls (513097) Q4 24/25 earnings summary

Executive summary

• FY25 saw disciplined execution and strong cost control, with EBITDA margin at 22.28% and ROCE at 24.65%.

• Audited standalone and consolidated results for FY25 were approved, with auditors issuing unmodified opinions.

• Shunt Resistors contributed nearly half of annual revenue, with 3.68%-4.18% YoY growth, while Bimetals declined 8.07%.

• Full-year revenue declined 2.7%, but export share remained strong at 56.2%.

• Board recommended a final dividend of ₹1.50 per share, totaling ₹2.70 for FY25.

Financial highlights

• Q4 EBITDA grew 25% YoY, with margin expanding to 23.17%.

• FY25 standalone revenue was ₹437.21 Cr, down 2.72% YoY; consolidated revenue was ₹508.35 Cr, slightly down YoY.

• Standalone PAT for FY25 was ₹72.43 Cr, down 10.57% YoY; consolidated net profit was ₹77.06 Cr.

• Gross margin for FY25 was 46.57%, with stable gross profit despite input cost fluctuations.

• Net working capital days increased to 217; inventory days rose to 184.

Outlook and guidance

• Management targets 15%-18% consolidated revenue growth for FY26, with double-digit growth in shunt, bimetal, and smart meter segments.

• Forward integration into PCBA assemblies and new product launches to drive growth from FY27 onward.

• Strategic focus on monetizing EBW capacity, sectoral tailwinds in electrification, and geographic expansion in Europe and North America.