Shivalik Bimetal Controls Ltd (SBCL)
🎯 Key Takeaways
- Shivalik Bimetal Controls Ltd is in a high-growth phase driven by strategic expansion into EV, smart meters, and data center markets, supported by proprietary manufacturing capabilities and export momentum. The company demonstrates strong profitability with rising margins and ROE, underpinned by scalable operations and new facility ramp-up.
- Revenue grew 12% QoQ to ₹182 in Q1FY27.
- ⚠️ SBCL faces operational risks related to hazardous material handling in its manufacturing processes and evolving cybersecurity threats, as disclosed in
📖 The Story
Shivalik Bimetal Controls Ltd is in a high-growth phase driven by strategic expansion into EV, smart meters, and data center markets, supported by proprietary manufacturing capabilities and export momentum. The company demonstrates strong profitability with rising margins and ROE, underpinned by scalable operations and new facility ramp-up.
📰 What's Happening
In Q1 FY27 (filed August 7, 2026), SBCL reported 33% YoY revenue growth and 45% YoY PAT growth, with PAT margin expanding 144 bps to 18.12%. The company highlighted operational readiness of its new Pune facility until June 30, 2032, and cited export gains and demand in EV and smart infrastructure sectors as key drivers. This growth acceleration is linked to its advanced manufacturing capabilities like Electron Beam Welding and global footprint across 38 countries.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 137 | 134 | 163 | 182 |
| Operating Profit | 28 | 29 | 32 | 39 |
| OPM % | 20.2% | 21.4% | 19.6% | 21.6% |
| Net Profit | 25 | 22 | 26 | 33 |
| EPS | ₹4.27 | ₹3.88 | ₹4.54 | ₹5.73 |
Revenue and profitability have shown consistent quarter-on-quarter expansion, with OPM holding above 20% and NP/EPS rising steadily from ₹3.88 crore to ₹33 crore over four quarters. The margin improvement to 18.12% in Q1 FY27 reflects operational efficiency gains and scale benefits from the new Pune facility, aligning with management's narrative of scalable profitability in high-growth sectors.
🔮 Management Outlook & What's Next
Management expressed confidence in sustained growth in EV, smart meters, and data center markets, citing proprietary technologies and sustainable operations as competitive advantages. The company emphasized the operational status of its Pune facility through 2032 and the strategic importance of export expansion and sector-specific demand trends in its forward guidance.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 |
| Reserves | 362 | 394 | 433 | 470 |
| Borrowings | 39 | 33 | 49 | 61 |
| Total Liabilities | 471 | 508 | 578 | 636 |
| Fixed Assets | 119 | 135 | 135 | 145 |
| Investments | 12 | 15 | 16 | 16 |
| Total Assets | 471 | 508 | 578 | 636 |
The balance sheet shows a stable capital structure with minimal debt (Borrowings ₹61 crore as of March 2026) and growing equity and reserves, indicating prudent capital management. Total assets have risen steadily from ₹508 crore to ₹636 crore over two years, reflecting disciplined investment in capacity and operations without over-leveraging.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +94 |
| Investing | -58 |
| Financing | -26 |
| Net Cash Flow | +10 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 33.2% | 33.2% | 33.4% | 33.6% |
| FII | 3.0% | 2.6% | 1.7% | 2.0% |
| DII | 20.2% | 19.7% | 20.0% | 14.6% |
| Public | 36.3% | 37.5% | 38.0% | 42.1% |
| # Shareholders | 66,293 | 64,010 | 60,956 | 65,391 |
FII holding has declined slightly from 3.03% to 2.04% over four quarters, while DII has increased from 19.71% to 20%, suggesting growing institutional confidence among non-promoter investors. The rising number of shareholders (65,391 in Q1FY27) and stable promoter holding indicate broadening retail participation and no signs of promoter dilution.
⚖️ Peer Comparison — Non Ferrous Metals
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| HINDZINC | 2.52 L Cr | 14.8 | 76.5% | 75.4% | 0.36 |
| HINDALCO | 2.28 L Cr | 13.7 | 11.1% | 12.0% | 0.71 |
| VAML | 1.70 L Cr | — | — | — | -0.81 |
| VEDL | 1.07 L Cr | 5.4 | 27.0% | 57.5% | 0.65 |
| NATIONALUM | 68,093 | 10.1 | 42.2% | 31.3% | 0.00 |
| HINDCOPPER | 50,904 | 44.8 | 44.4% | 34.1% | 0.03 |
| GRAVITA | 13,145 | 33.1 | 21.0% | 18.9% | 0.14 |
| JAINREC | 9,690 | 26.4 | 20.9% | 23.1% | 0.81 |
| PRECWIRE | 9,091 | — | — | — | 0.14 |
| KSHINTL | 6,464 | 46.4 | 33.9% | 43.4% | 1.21 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
SBCL faces operational risks related to hazardous material handling in its manufacturing processes and evolving cybersecurity threats, as disclosed in its BRSR filing. Additionally, its high ROE and P/E ratio (58.1) suggest valuation sensitivity to earnings volatility, while export-dependent growth exposes it to global demand and currency fluctuations.
📋 Recent Filings
-
🔴 Announcement 31 August 2026Shivalik Bimetal Controls announced it received no objection certificates from both BSE and NSE for the reclassification of Solan Developers Private L...
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Announcement 13 August 2026SBCL reported robust Q1FY27 growth with revenue up 33.4% YoY to 182.2 crores and PAT up 44.9% to 33 crores, driven by strong demand in EV two-wheelers...
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🔴 annual report 12 August 2026SBCL announced that shareholders who have not registered their email addresses will receive a web link and QR code to access the notice of the 42nd AG...
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🔴 Corporate Action 11 August 2026Shivalik Bimetal Controls Limited announced its 42nd Annual General Meeting on September 2, 2026, via video conference, and set August 26, 2026, as th...
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🔴 annual report 11 August 2026Shivalik Bimetal Controls Limited announced its 2025-26 Annual Report and convened the 42nd AGM on September 2, 2026, via video conferencing. The reco...
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🔴 annual report 11 August 2026SBCL reported standalone BRSR disclosures for FY 2025-26, highlighting 100% turnover from thermostatic bimetal strips, 56.65% export contribution, and...
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🟡 Board Meeting 7 August 2026Shivalik Bimetal Controls Limited announced the appointment of Walker Chandiok & Co LLP as statutory auditors for its material subsidiary Shivalik Eng...
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🔴 Financial Results 7 August 2026SBCL reported Q1 FY27 revenue of ₹182.20 crore, up 33% YoY, with PAT margin expanding to 18.12% and PAT growth of 45% YoY, driven by strong domestic d...
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Announcement 6 August 2026Shivalik Bimetal Controls announced on August 6, 2026, that its board approved unaudited Q1 FY2026 results, reappointed Managing Director Kabir Ghumma...
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🟡 Board Meeting 6 August 2026The board approved unaudited Q1 FY26 results showing revenue of **₹13.2 crores**, net profit of **₹2.64 crores**, and EPS of **[amount context mismatc...
🧠 Analyst's Read
SBCL is executing a scalable growth strategy with strong margin expansion and sector-specific tailwinds in EV and smart infrastructure, but its valuation reflects high expectations. Investors should monitor execution at the new Pune facility, export order sustainability, and margin resilience amid competitive pressures in the non-ferrous metals space.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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