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Shivalik Bimetal Overview

Shivalik Bimetal Controls Ltd is engaged in production of Thermostatic Bi-metal/Tri-metal Strips and Parts, and Shunt (Resistors). The Company is likewise engaged in job work for Indian Ordinance. The Company's segment is Process and product Engineering. Its geographic segments encompass India and Rest of the World. Its products include Reflow Solder/Presoldered Strips, Thermostatic Bimetal Coils and Spring, Precision Stainless Steel and Snap Action Disc. Its packages include Clad Metal, Spring Rolled Stainless Steels, Electron Beam Welded Mate...Read More

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Shivalik Bimetal Key Financials

Market Cap ₹2389 Cr.

Stock P/E 31

P/B 5.4

Current Price ₹414.8

Book Value ₹ 77.1

Face Value 2

52W High ₹604

Dividend Yield 0.65%

52W Low ₹ 378

Shivalik Bimetal Share Price

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Volume
Price

Shivalik Bimetal Quarterly Price

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Shivalik Bimetal Peer Comparison

Shivalik Bimetal Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 127 128 126 128 126 127 123 132 137 137
Other Income 1 2 1 14 3 3 4 3 2 4
Total Income 129 130 128 142 129 130 127 136 139 141
Total Expenditure 97 99 101 106 102 100 99 104 105 106
Operating Profit 32 32 27 36 27 30 28 32 34 35
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 3 3 3 3 3 3 3 3 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 27 27 22 32 23 26 24 28 30 30
Provision for Tax 7 7 6 8 6 7 6 7 8 8
Profit After Tax 21 20 16 24 17 20 18 21 22 23
Adjustments 1 0 1 2 1 0 0 1 1 2
Profit After Adjustments 21 20 17 26 18 20 18 21 23 25
Adjusted Earnings Per Share 3.7 3.5 2.9 4.5 3.1 3.5 3.2 3.7 4 4.3

Shivalik Bimetal Profit & Loss

#(Fig in Cr.) Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 95 109 119 158 193 187 204 324 470 509 508 529
Other Income 2 1 2 4 5 4 4 5 10 19 13 13
Total Income 97 109 121 162 199 192 208 329 480 528 521 543
Total Expenditure 85 95 100 132 158 166 168 251 361 403 405 414
Operating Profit 12 15 21 30 41 25 40 79 119 125 117 129
Interest 4 4 3 3 4 3 2 3 7 5 4 4
Depreciation 3 4 5 5 5 6 6 6 11 12 12 12
Exceptional Income / Expenses 0 -0 -0 0 0 0 0 0 0 0 0 0
Profit Before Tax 5 6 14 23 34 17 34 73 102 112 103 112
Provision for Tax 3 2 5 6 10 4 9 18 23 27 26 29
Profit After Tax 3 3 8 17 25 13 25 55 79 84 77 84
Adjustments 0 0 0 0 0 0 0 0 0 0 0 4
Profit After Adjustments 3 3 8 17 25 13 25 55 79 84 77 87
Adjusted Earnings Per Share 0.5 0.6 1.4 2.9 4.3 2.3 4.4 9.6 13.7 14.6 13.4 15.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -0% 16% 22% 18%
Operating Profit CAGR -6% 14% 36% 26%
PAT CAGR -8% 12% 43% 38%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -20% 2% 58% 49%
ROE Average 21% 28% 27% 20%
ROCE Average 26% 32% 31% 24%

Shivalik Bimetal Balance Sheet

#(Fig in Cr.) Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 46 55 68 83 105 115 140 192 265 342 406
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 41 5 5 7 7 10 8 15 22 12 4
Other Non-Current Liabilities 3 3 5 6 6 6 5 6 7 7 16
Total Current Liabilities 27 62 37 51 58 32 68 95 95 82 82
Total Liabilities 116 125 116 147 176 163 221 308 390 443 508
Fixed Assets 37 41 43 45 45 43 44 77 116 118 135
Other Non-Current Assets 3 13 12 13 17 32 42 31 21 30 43
Total Current Assets 76 70 58 86 112 88 135 200 254 295 329
Total Assets 116 125 116 147 176 163 221 308 390 443 508

Shivalik Bimetal Cash Flow

#(Fig in Cr.) Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 4 0 8 0 0 0 0 16 11 13 11
Cash Flow from Operating Activities 2 16 12 6 4 41 30 -3 66 69 94
Cash Flow from Investing Activities -7 -2 -3 -7 -7 -14 -15 -24 -43 -41 -58
Cash Flow from Financing Activities 4 -6 -17 1 3 -27 0 23 -18 -29 -26
Net Cash Inflow / Outflow -1 8 -8 0 0 -0 15 -5 4 -2 10
Closing Cash & Cash Equivalent 2 8 0 0 0 0 16 11 18 11 21

Shivalik Bimetal Ratios

# Mar 2011 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.47 0.58 1.43 2.87 4.27 2.34 4.42 9.57 13.73 14.63 13.38
CEPS(Rs) 0.94 1.31 2.21 3.67 5.12 3.38 5.45 10.67 15.56 16.72 15.42
DPS(Rs) 0.2 0 0.5 0.6 0.6 0.3 0.6 1 1.2 1.7 2.7
Book NAV/Share(Rs) 7.95 9.51 11.88 14.41 18.19 20.01 24.22 33.26 46.09 59.29 70.42
Core EBITDA Margin(%) 10.09 12.01 15.12 16.04 18.38 11.08 17.74 22.68 23.16 20.88 20.4
EBIT Margin(%) 9.61 8.69 12.93 16.22 19.66 10.74 17.65 23.48 23.25 22.93 20.94
Pre Tax Margin(%) 5.42 4.86 10.91 14.15 17.81 9.17 16.85 22.62 21.75 21.96 20.2
PAT Margin (%) 2.68 2.81 6.54 10.34 12.73 7.19 12.51 17.01 16.82 16.56 15.16
Cash Profit Margin (%) 5.33 6.53 10.16 13.23 15.24 10.39 15.41 18.98 19.06 18.93 17.47
ROA(%) 2.5 2.7 6.84 12.6 15.23 7.94 13.29 20.85 22.68 20.24 16.21
ROE(%) 6.02 6.46 13.34 21.83 26.23 12.23 20.01 33.29 34.61 27.76 20.63
ROCE(%) 12 10.68 16.33 24.01 28.32 13.87 23.34 36.48 38.18 32.99 25.9
Receivable days 95.61 85.06 76.62 68.51 64.33 63.87 66.08 57.51 59.17 74.22 80.86
Inventory Days 96.03 94.98 76.49 76.12 103.68 116.77 108.09 104.22 95.78 93.21 93.04
Payable days 91.4 72.7 47.97 57.36 60.99 45.22 85.12 87.36 62.59 52.33 48.75
PER(x) 13.97 11.84 14.84 26.19 21.57 6.11 12.84 35.78 37.28 35.47 34.51
Price/Book(x) 0.83 0.72 1.78 5.21 5.07 0.71 2.35 10.29 11.11 8.75 6.55
Dividend Yield(%) 3.04 0 0.79 0.53 0.43 1.4 0.7 0.19 0.23 0.33 0.58
EV/Net Sales(x) 0.8 0.72 1.26 2.97 2.98 0.57 1.67 6.23 6.36 5.88 5.14
EV/Core EBITDA(x) 6.15 5.37 7.1 15.72 14.06 4.24 8.45 25.56 25.15 23.86 22.41
Net Sales Growth(%) 24.66 14.44 9.3 32.9 22.51 -3.19 8.82 59.03 45.18 8.2 -0.11
EBIT Growth(%) 0.07 3.31 61.53 59.69 46.66 -44.29 78.89 111.56 43.76 6.71 -8.76
PAT Growth(%) -42.85 19.62 152.9 101.17 49.01 -40.66 89.45 116.22 43.53 6.53 -8.56
EPS Growth(%) -42.85 22.45 147.07 101.17 49.01 -45.36 89.45 116.22 43.53 6.53 -8.56
Debt/Equity(x) 0.89 0.86 0.42 0.43 0.43 0.22 0.2 0.3 0.22 0.12 0.08
Current Ratio(x) 2.83 1.13 1.57 1.7 1.93 2.76 1.99 2.09 2.66 3.59 4.01
Quick Ratio(x) 1.58 0.7 0.87 0.9 0.74 1.17 0.96 0.89 1.28 2.03 2.41
Interest Cover(x) 2.3 2.27 6.39 7.83 10.63 6.84 22.08 27.52 15.53 23.67 28.39
Total Debt/Mcap(x) 1.07 1.19 0.23 0.08 0.08 0.3 0.09 0.03 0.02 0.01 0.01

Shivalik Bimetal Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 51.09 51.09 51.13 51.14 33.17 33.17 33.17 33.17 33.17 33.17
FII 4.18 3.6 3.26 2.73 3.96 3.93 3.63 3.14 3.03 2.59
DII 1.45 1.82 1.9 2.33 20.02 21.1 21.07 21 20.2 19.71
Public 43.28 43.49 43.72 43.8 42.85 41.79 42.13 42.69 43.61 44.53
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Shivalik Bimetal News

Shivalik Bimetal Pros & Cons

Pros

  • Company has delivered good profit growth of 42% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28%
  • Debtor days have improved from 52.33 to 48.75days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 33.17%.
  • Stock is trading at 5.4 times its book value.
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