| Metric | Value (₹ Cr) | vs Q2 FY25 |
|---|---|---|
| Revenue | 123.28 | 2.7% |
| Total Income | 126.78 | 2.3% |
| Expenditure | 102.59 | 0.8% |
| PBT | 24.19 | 8.3% |
| Net Profit | 18.24 | 8.5% |
| OPM | 13.64% | 1.83pp |
| NPM | 14.27% | 0.96pp |
| EPS | 3.17 | 7.0% |
Shivalik Bimetal Delivers >10% YoY Profit Growth in Q3FY25 with Improving Global Traction in High-Value Segments
13 Feb 2025 · 13 Feb 2025, 02:32 am
Summary
Shivalik Bimetal Controls Ltd. (SBCL) released its Q3FY25 and 9MFY25 financial results, highlighting margin resilience, operational discipline, and continued expansion into high-value applications. Despite a slight decline in total income, Profit After Tax (PAT) grew by 10.07% in Q3FY25. The Shunt Resistor segment continues to be a key growth driver, with notable increases in India and Asia (excluding India). The Americas region showed early signs of recovery in the Thermostatic Bimetals segment. The company is strategically focused on expanding its portfolio of value-added components for sustainable and profitable growth.
Key Highlights
- 1
Margin Expansion: SBCL achieved a 259 bps increase in Profit Before Tax (PBT) margin and a 231-bps improvement in Profit After Tax (PAT) margin in Q3FY25 compared to Q3FY24.
- 2
Shunt Resistor Segment Leadership: The Shunt Resistor segment continues to be a key growth driver, with notable increases in India (19.61% YoY in Q3FY25 and 34.81% YoY in 9QMFY25) and Asia (excluding India) (11.91% YoY in Q3FY25 and 28.78% in 9MFY25).
- 3
Resilience in Thermostatic Bimetals in the Americas: The Americas region showed early signs of recovery with a 13.99% YoY growth in Q3FY25 and 3.75% YoY growth in QMFY25.
- 4
Declaration of Dividend: The Board has declared an interim dividend of 60% (₹1.20 per equity share) on 57,604,200 equity shares of ₹2 each.
Management Comments
Mr. Kabir Ghumman
Managing Director
In Q3 & 9MFY25, Shivalik’s emphasis on precision engineering and product innovation has enabled us to navigate a dynamic global market effectively. Our newly introduced ‘Smart DC Current Sensor’ showcases our commitment to cutting-edge solutions and forward integration. Starting April 2025, we look forward to evolving our resistor strip business with the addition of more high precision high value added components, further strengthening our forward integration strategy with key customers. This transition will enable us to offer a wider array of high-value SKUs, reinforce ties with global OEMs, and further Shivalik’s standing as a trusted supplier globally.
Mr. Sumer Ghumman
Whole-time Director
Within our Shunt Resistor vertical, we continued to see positive growth in India driven by demand in Smart Meters and industrial sectors. Asia (excluding India) also delivered double- digit expansion, while North America witnessed a temporary slowdown due to inventory corrections. The region’s industrial traction indicates a potential near-term rebound that should feed into future quarters. Our Thermostatic Bimetals & Trimetals portfolio exhibited mixed performance across geographies, moderation in India and Europe was partially offset by promising growth in the Americas. This balanced exposure highlights the value of prudent regional diversification and leveraging our growing product mix. Looking ahead, our forward integration contracts are set to reflect in our performance in the next 6 months. We are also approaching more advanced stages of our backward integration initiatives, ensuring we remain well-positioned to address the evolving demands of growing sectors.
Mr. Rajeev Ranjan
Chief Financial Officer
Despite macroeconomic headwinds impacting certain product categories and geographies, our disciplined approach to cost management has enabled us to preserve profitability. With a 231 basis point improvement in PAT margins for Q3FY25 and a 259-basis point expansion in PBT margins, we have demonstrated our ability to navigate complex market conditions. Meanwhile, we continue to explore opportunities in component manufacturing, forward integration, and potential joint ventures while also evaluating inorganic growth opportunities that would be accretive to our balance sheet and business. Additionally, we are pleased to announce that the Board has declared an interim dividend of 60% (₹1.20 per equity share) on 57,604,200 equity shares of ₹2 each this quarter, reinforcing our commitment to delivering shareholder value.
Informational and educational content only. Not investment advice.