Shivalik Bimetal Controls reports a robust start to the fiscal year with strong revenue growth, driven by structural shifts towards higher-margin products, expanding export markets, and new manufacturing capacities, while exploring inorganic growth avenues.
Shivalik Bimetal Controls said its first quarter performance got off to a strong start, with consolidated revenue rising 33.4% year on year to ₹182.2 crore. Earnings before interest, tax, depreciation and amortisation increased 35.2%, while profit after tax climbed 44.9%, according to the company’s earnings call reported by GuruFocus. LiveMint separately reported that total income for the quarter ended June 25, 2026 was ₹136.60 crore, up 3.14%, with operating profit rising 12.77% to ₹28.68 crore and net profit increasing 8.21% to ₹22.78 crore.
Management said much of the improvement in margins came from a shift away from low-value strip sales towards higher-precision finished parts, especially in the shunt business. Executive Director Sumer Ghumman told analysts that most of that mix change is structural rather than cyclical, and therefore likely to endure. He also said roughly half of the headline revenue growth reflected a sharp rise in silver prices, which is not expected to repeat, although the underlying volume and value-add trend remains firm.
The company is leaning on export recovery and new product lines to sustain momentum. GuruFocus reported that the Americas returned to growth in shunts, with sales up 30% year on year, while Europe also strengthened. At the same time, Asia remained softer. The company has received consent to operate for phase one of its Pune plant, which will support cell connecting systems and busbars, though full capacity is not expected until October. Management said those new assemblies could generate ₹300 million to ₹400 million in revenue over three years, with only ₹20 million to ₹25 million of extra capital spending needed.
For FY27, Shivalik Bimetal is guiding for consolidated revenue growth of 20% to 30%, according to the call transcript summarised by GuruFocus and analysed by Arthneeti. The company said its customer mix has become less concentrated, with exposure to its biggest US client expected to stay below 18%, down from 35% to 40% historically. It is also exploring inorganic growth, including possible technology partnerships and acquisitions in advanced metallurgical materials and automotive fuses, while the thermostatic bimetal business remains an area of weakness despite early signs of improvement in domestic demand.
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