🔍

SBCL - Shivalik Bimetal

📊 NSE: SBCL 🏢 Mining / Minerals / Metals 📅 Last Updated: 12/14/2025 13:14

📢 Recent Corporate Announcements

CRISIL Reaffirms Shivalik Bimetal Controls' Credit Ratings for Rs 115 Cr Bank Facilities

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Mar 2026, 04:33 PM

CRISIL has reaffirmed the credit ratings for Shivalik Bimetal Controls Limited's bank loan facilities totaling Rs 115 Crore. The long-term rating is maintained at 'CRISIL A/Stable', while the short-term rating remains 'CRISIL A1'. This reaffirmation indicates that the company maintains a healthy credit profile and sufficient liquidity to meet its debt obligations. The 'Stable' outlook suggests that the agency expects the company to maintain its financial risk profile over the medium term.

CRISIL reaffirmed the Long Term Rating at 'CRISIL A/Stable' for bank facilities.
Short Term Rating reaffirmed at 'CRISIL A1' for the company.
The total value of bank loan facilities rated stands at Rs 115 Crore.
The reaffirmation reflects a consistent credit profile and stable financial management.

💡 Existing investors can take comfort in the reaffirmed ratings as they signal financial stability. No specific portfolio changes are recommended based solely on this routine update.

SBCL Q3 FY26: EBITDA Margins Hit 24%; ₹20 Cr Capex for New Pune Assembly Plant

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 11:24 PM

Shivalik Bimetal reported 9% YoY revenue growth for Q3 FY26, with EBITDA margins expanding significantly by 400 bps to reach 24%. The company is investing ₹200 million in a new Pune facility for automotive bus bars and assemblies, expected to generate ₹70-75 crore in FY27. Management anticipates this new segment will scale to ₹250-300 crore by FY29, driven by e-mobility and energy storage demand. The board also declared an interim dividend of ₹2 per share, reflecting confidence despite temporary US tariff challenges.

Q3 and 9M FY26 revenue increased by 9% YoY with EBITDA margins crossing the 24% mark, up 400 bps.
Approved ₹20 crore internal-funded capex for a new Pune facility targeting EV and energy storage markets.
New assembly business projected to contribute ₹70-75 crore in FY27 and scale up to ₹300 crore by FY29.
US export strategy is shifting from low-margin strips to high-value components to mitigate tariff impacts and improve realizations.
Board declared an interim dividend of ₹2 per equity share following strong operational performance.

💡 Investors should view the margin expansion and the move into high-value assemblies as strong growth catalysts. Monitor the timely commissioning of the Pune plant in Q1 FY27, as it is expected to significantly boost revenue visibility over the next three years.

Shivalik Bimetal Controls Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Feb 2026, 08:29 PM

Shivalik Bimetal Controls Limited (SBCL) has released the audio recording of its investor conference call held on February 6, 2026. The call discussed the company's unaudited financial results for the third quarter and nine months ended December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015, to ensure transparency for all stakeholders. Investors can access the recording via the company's website to hear management's detailed commentary on operational performance.

Audio recording of the Q3 and 9M FY2025-26 earnings call is now available for public access.
The conference call was conducted on February 6, 2026, following the release of quarterly financial results.
Disclosure made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording link is hosted on the company's official website under the investor relations section.

💡 Investors should listen to the recording to gain insights into management's outlook on the bimetal and shunt resistor segments. Pay close attention to commentary regarding demand trends and margin sustainability for the upcoming quarters.

SBCL Targets ₹1,600 Cr Revenue Potential; Reports 31.6% 5-Year PAT CAGR

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 06 Feb 2026, 12:40 PM

Shivalik Bimetal Controls (SBCL) showcased a robust financial profile in its latest investor presentation, highlighting a 5-year PAT CAGR of 31.6% and a revenue CAGR of 21%. The company remains debt-free with a net cash balance of ₹68 crore and maintains a healthy EBITDA margin of 22.28%. With exports contributing 56.22% of revenue, SBCL is well-positioned to benefit from global demand in EVs and smart meters. Management indicated that current infrastructure can support revenue up to ₹1,300 crore, with a total potential of ₹1,600 crore post-optimization.

Delivered a 5-year PAT CAGR of 31.6% and Revenue CAGR of 21.04% through FY25.
Maintains a strong return profile with a ROCE of 24.65% and zero debt status.
Export markets account for 56.22% of revenue, serving 300+ customers across 38 countries.
Shunt resistors emerged as the fastest-growing segment with a 5-year CAGR of 41.76%.
Future sales potential estimated at ₹1,600 crore following ₹100 crore capex already deployed.

💡 Investors should consider SBCL as a high-margin, debt-free growth play on the global electrification and smart metering themes. The significant headroom between current revenue and installed capacity suggests a strong runway for earnings expansion.

SBCL Q3 PAT Up 22% YoY to ₹22.33 Cr; EBITDA Margins Expand 421 Bps

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 05:37 PM

Shivalik Bimetal Controls Limited (SBCL) reported a strong Q3 FY26 with consolidated PAT rising 22.42% YoY to ₹22.33 crore. While revenue growth was moderate at 8.88% YoY (₹134.23 crore), the company achieved significant margin expansion, with EBITDA margins jumping 421 bps to 24.12%. This profitability was driven by a favorable product mix and increased supply of high-margin components to global customers. Additionally, the company is investing ₹20 crore in a new Pune facility for automotive busbars, targeting a launch in April 2026.

Consolidated PAT for Q3 FY26 grew 22.42% YoY to ₹22.33 crore; 9M PAT rose 25.11% to ₹69.71 crore.
EBITDA margin expanded by 421 bps YoY to 24.12% in Q3, reflecting improved product mix and cost discipline.
Revenue from operations increased 8.88% YoY to ₹134.23 crore for the quarter.
Europe Shunts segment recorded massive growth of 98.64% YoY, while India Shunts grew 18.89%.
Announced ₹200 million investment for a new Pune plant to produce 1 million busbars per month starting Q1 FY27.

💡 Investors should view the margin-led growth and forward integration into automotive assemblies as strong positive indicators. The company's focus on high-growth sectors like EVs, AI data centers, and smart meters provides a robust long-term outlook.

SBCL Q3 Profit Up 10% to ₹19.3 Cr; Announces ₹2 Dividend & ₹20 Cr Pune Expansion

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 05 Feb 2026, 05:34 PM

Shivalik Bimetal Controls Limited (SBCL) reported a steady Q3 FY26 with net profit rising 10.3% YoY to ₹19.34 crore and revenue reaching ₹110.13 crore. The board declared a 100% interim dividend of ₹2 per share, setting February 13, 2026, as the record date. A major expansion is underway in Pune with a ₹20 crore investment to produce 1 million automotive busbars monthly, specifically targeting the e-mobility and energy storage markets. This new facility is expected to be operational by April 2026 and will be funded entirely through internal accruals.

Net Profit increased 10.3% YoY to ₹19.34 crore for the quarter ended December 31, 2025.
Declared interim dividend of ₹2 per share (100% of face value) with a record date of Feb 13, 2026.
Investing ₹200 million via internal accruals for a new manufacturing facility in Pune, Maharashtra.
Proposed capacity of 1 million automotive busbars and 40,000 assemblies per month starting Q1 FY27.
Revenue from operations grew 3.7% YoY to ₹110.13 crore, maintaining stable margins.

💡 The forward integration into automotive busbars for the EV sector is a significant growth catalyst; investors should hold for the dividend and monitor the Pune plant's commissioning in April 2026.

Shivalik Bimetal Declares Rs 2 Interim Dividend; Sets Feb 13 as Record Date

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 05 Feb 2026, 05:06 PM

Shivalik Bimetal Controls Limited (SBCL) has announced an interim dividend of 100% for the financial year 2025-26, amounting to Rs. 2 per equity share. The Board has fixed February 13, 2026, as the record date to identify eligible shareholders for this payout. The total number of equity shares involved is 5,76,04,200 with a face value of Rs. 2 each. Shareholders can expect the dividend payment or dispatch to be completed by March 6, 2026.

Interim dividend declared at 100% of face value, which is Rs. 2 per equity share
Record date for determining shareholder eligibility is set for February 13, 2026
Dividend applies to a total of 5,76,04,200 equity shares
Payment or dispatch of the dividend is scheduled to be completed on or before March 6, 2026

💡 Investors interested in the dividend should ensure they hold the stock before the ex-dividend date, typically one working day prior to the record date. The 100% dividend payout signals healthy cash flow and a shareholder-friendly approach.

SBCL Q3 Net Profit Rises 10% to ₹19.3 Cr; Announces ₹2 Dividend and ₹20 Cr Pune Expansion

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 04:58 PM

Shivalik Bimetal Controls Limited (SBCL) reported a steady performance for Q3 FY26, with net profit growing 10.3% YoY to ₹19.33 crore. The company declared an interim dividend of ₹2 per share (100% of face value) and announced a strategic ₹20 crore investment for a new manufacturing facility in Pune. This new plant will focus on automotive busbars and connectors, targeting the high-growth e-mobility and energy storage sectors, with production expected to start in Q1 FY27.

Net profit increased by 10.3% YoY to ₹19.33 crore for the quarter ended December 31, 2025.
Declared an interim dividend of ₹2 per share (100%) with a record date of February 13, 2026.
Announced a ₹20 crore investment for a new Pune facility to produce 1 million busbars per month.
Revenue from operations stood at ₹110.13 crore, showing a modest growth of 3.7% YoY.
Recognized a one-time exceptional expense of ₹79.06 lakhs due to the implementation of New Labour Codes.

💡 The expansion into automotive busbars for the EV segment is a significant forward-integration move that could drive future margins. Investors may hold for the dividend and long-term growth from the new Pune facility.

SBCL Declares ₹2 Interim Dividend; Q3 Net Profit Rises 10% YoY to ₹19.3 Cr; Announces Pune Expansion

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 04:51 PM

Shivalik Bimetal Controls (SBCL) reported a steady Q3 FY26 with standalone net profit growing 10.3% YoY to ₹19.34 crore. The Board declared an interim dividend of ₹2 per share (100% of face value) with a record date of February 13, 2026. A major strategic highlight is the announcement of a ₹20 crore greenfield expansion in Pune to manufacture automotive busbars for the EV and energy storage sectors. While revenue grew 3.7% YoY to ₹110.13 crore, the company is focusing on forward integration through this new facility, which is expected to launch in April 2026.

Standalone Net Profit increased 10.3% YoY to ₹19.34 crore for the quarter ended December 31, 2025.
Declared an interim dividend of ₹2 per equity share with the record date fixed as February 13, 2026.
Announced a ₹200 million investment for a new Pune facility to produce 1 million automotive busbars per month.
Revenue from operations grew 3.7% YoY to ₹110.13 crore, though it saw a marginal sequential decline from Q2 FY26.
Provided a ₹7 crore corporate guarantee for its wholly-owned subsidiary to secure credit facilities for working capital and term loans.

💡 The expansion into EV-related busbars is a significant growth catalyst that diversifies SBCL's portfolio; long-term investors should maintain positions given the healthy dividend and strategic capex.

SBCL Schedules Q3 & 9M FY2026 Earnings Call for February 6, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 03 Feb 2026, 06:43 PM

Shivalik Bimetal Controls Limited (SBCL) has announced that it will release its financial results for the third quarter and nine months ended December 31, 2025, on February 5, 2026. Subsequently, the company will host an earnings conference call on February 6, 2026, at 3:00 PM IST. The management will discuss the standalone and consolidated performance and provide operational highlights. This call provides an opportunity for investors to engage directly with senior management through an interactive Q&A session.

Financial results for Q3 and 9M FY2026 to be declared on February 5, 2026
Earnings conference call scheduled for February 6, 2026, at 3:00 PM IST
Call to cover both standalone and consolidated unaudited financial performance
Management commentary and interactive Q&A session included in the agenda

💡 Investors should monitor the results on February 5th and participate in the call to understand the company's performance in the bimetal and shunt resistor segments.

SBCL Schedules Q3 & 9M FY2026 Earnings Call for February 6, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Feb 2026, 05:39 PM

Shivalik Bimetal Controls Limited (SBCL) has announced its earnings conference call for Q3 and 9M FY2026, scheduled for February 6, 2026, at 3:00 PM IST. The financial results for the period ending December 31, 2025, will be released a day earlier on February 5, 2026. Senior management will be present to discuss the company's financial and operational performance. This interactive session provides stakeholders an opportunity to engage directly with the management regarding future strategic initiatives.

Earnings call scheduled for February 6, 2026, at 3:00 PM IST
Financial results for Q3 and 9M FY2026 to be declared on February 5, 2026
Interactive Q&A session with senior management to follow operational commentary
Investor presentation and press release will be available on stock exchanges post-board meeting

💡 Investors should monitor the financial results on February 5th and participate in the earnings call to understand the company's growth trajectory and margin outlook.

Shivalik Bimetal Reports Minor Fire at Main Plant; No Casualties or Equipment Damage

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Jan 2026, 12:36 PM

Shivalik Bimetal Controls Limited (SBCL) reported a minor fire incident at its main manufacturing facility on January 28, 2026. The fire was confined to the packaging area and was successfully extinguished within 10 minutes by in-house and local fire teams. Importantly, the company confirmed there were no casualties and no damage to any production machinery or equipment. Management has stated that operations and customer deliveries remain on track, with adequate insurance coverage in place.

Fire incident occurred in the packaging area between 10:15 PM and 10:25 PM on January 28, 2026
Zero casualties and no damage reported to critical production machinery or equipment
Operations and customer delivery schedules remain unaffected and on track
Company maintains adequate insurance coverage for the minimal damage sustained in the packing area

💡 No immediate action is required as the incident has no material impact on the company's production capacity or financial health. Investors should view this as a routine operational update.

Shivalik Bimetal Reports Minor Fire at Solan Plant; No Impact on Production or Machinery

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 29 Jan 2026, 12:20 PM

Shivalik Bimetal Controls Limited reported a minor fire incident at its main manufacturing facility in Solan, Himachal Pradesh, on January 28, 2026. The fire was confined to the packaging area and was extinguished within 10 minutes (10:15 PM to 10:25 PM) with no reported casualties. Management confirmed that there is no damage to production machinery or equipment, and customer deliveries remain on track. The company is currently assessing the financial loss, which is covered by insurance.

Fire incident occurred on January 28, 2026, lasting approximately 10 minutes in the packaging area.
Zero damage reported to core production machinery or manufacturing equipment.
Operations and customer delivery schedules remain unaffected by the incident.
Company has adequate insurance coverage to mitigate any financial loss from the event.
Internal review initiated to strengthen preventive safety measures at the Solan facility.

💡 Investors should remain calm as the incident has not disrupted production or damaged core assets. Monitor for the final loss assessment, though insurance coverage is expected to offset the impact.

SBCL Complies with SEBI Regulation 74(5) for Quarter Ended December 31, 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 12:36 PM

Shivalik Bimetal Controls Limited (SBCL) has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company's Registrar and Share Transfer Agent, MAS Services Ltd., processed all dematerialization requests for the period from October 1, 2025, to December 31, 2025. The company adhered to the mandatory 15-day timeline for confirming requests and updating the register of members. This is a standard administrative disclosure required by Indian stock exchanges.

Compliance confirmed for the quarter ending December 31, 2025.
Dematerialization requests were processed and confirmed within the 15-day regulatory timeframe.
Physical certificates were mutilated and cancelled after verification by MAS Services Ltd.
Register of members updated to reflect depositories as registered owners for dematerialized shares.

💡 No action is required from investors as this is a routine regulatory filing confirming administrative compliance.

Shivalik Bimetal Controls to Close Trading Window from January 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 22 Dec 2025, 02:31 PM

Shivalik Bimetal Controls Limited (SBCL) has announced the closure of its trading window for all designated persons starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the Q3 and nine-month financial results ending December 31, 2025. The trading window will remain closed until 48 hours after the financial results are officially declared. The company will announce the specific date for the Board meeting to approve these results at a later time.

Trading window closure effective from Thursday, January 1, 2026.
Closure pertains to the un-audited financial results for the quarter and nine months ending December 31, 2025.
The window will reopen 48 hours after the declaration of the financial results.
The announcement follows SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory filing. Investors should look out for the upcoming announcement of the Board meeting date to assess the company's Q3 financial performance.

View All SBCL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The group achieved a consolidated revenue of INR 520.61 Cr in FY24, representing a 10.35% growth from INR 471.80 Cr in FY23. The bimetals segment saw 19.3% volumetric growth in FY24, while the resistors and shunts business is registering 8-10% growth, driven by high value-add components. Q2 FY26 revenue grew 8.09% YoY to INR 118.42 Cr.

Geographic Revenue Split

Export share stood at 56.22% as of H1 FY26, with revenue originating from 38 export markets including the US, EU, and Asia. Domestic sales account for the remaining 43.78%.

Profitability Margins

Gross margins improved to 45.84% in H1 FY26 from 42.88% in H1 FY25 (up 296 bps). PAT margins were 16.18% in FY24 and improved to 17.29% in H1 FY26. The improvement is driven by a shift toward high-value components and a reduction in lower-margin strip business.

EBITDA Margin

EBITDA margin stood at 23.00% for H1 FY26, a 306 bps increase from 19.94% in H1 FY25. Core profitability is bolstered by indigenous machine building and a rupee-based cost shield against European peers.

Capital Expenditure

The company has an existing asset base capable of supporting over INR 1,300 Cr in revenue, suggesting limited immediate need for greenfield capex. Tangible fixed assets stood at INR 166 Cr in H1 FY26, up from INR 125 Cr in FY24.

Credit Rating & Borrowing

CRISIL maintains a 'Stable' outlook. Interest coverage ratio is expected to strengthen to 27-28 times in FY25, compared to 24.97 times in FY24. The company operates with low gearing of 0.13 times as of March 31, 2024.

⚙️ Operational Drivers

Raw Materials

Nickel and copper are the primary raw materials, collectively accounting for approximately 50% of the overall production cost.

Import Sources

A large portion of raw material procurement is imported to ensure the quality of specialized alloys, though specific countries are not disclosed in the available documents.

Capacity Expansion

Current asset base supports >INR 1,300 Cr revenue. No further large debt-funded capital expenditure is planned in the medium term to maintain a strong financial risk profile.

Raw Material Costs

Raw material costs are approximately 54% of revenue (implied by 45.84% gross margin). The company employs order-backed processing for customized products to mitigate the risk of commodity price fluctuations.

Manufacturing Efficiency

SBCL utilizes a 'Dual-process technology' (Electron Beam Welding + Diffusion Bonding). It maintains 77 diffusion bonded bimetal grades compared to a global median of 10, indicating high technical efficiency.

📈 Strategic Growth

Expected Growth Rate

12-15%

Growth Strategy

Growth will be achieved through a shift toward high-value-add components in the resistors and shunts business, which is expected to add INR 40-50 Cr to the topline over three years with superior margins. The company is also targeting volumetric growth from Q4 FY25 based on high customer estimates in the smart meter and switchgear segments.

Products & Services

Thermostatic bimetal/trimetal strips, shunt resistors, high-value-add electrical components, and clad metals used in switchgears, energy meters, and EVs.

Brand Portfolio

Shivalik Bimetal Controls Limited (SBCL).

New Products/Services

Focus on complicated small-component business and high-value-add resistors which have longer-term life cycles than standard strip supply.

Market Expansion

Expansion is focused on 38 export markets and deepening partnerships with 300+ OEMs/Tier-1s in sectors like energy storage and smart meters.

Market Share & Ranking

SBCL is one of the few manufacturers of bimetal parts and shunt resistors in India, holding a leading market position in the niche linear bimetals segment.

Strategic Alliances

Innovative Clad Solutions Private Limited (ICSPL) is a Joint Venture with M/s Arcelor Mittal Stainless and Nickel Alloys (SBCL holds 16.01%).

🌍 External Factors

Industry Trends

The industry is shifting toward smart metering and energy storage systems. SBCL is positioning itself as a multi-site engineered-materials partner rather than just a bimetal specialist to capture this 21% CAGR trend.

Competitive Landscape

SBCL faces limited competition in India due to the niche nature of linear bimetals. Key global competitors exist but SBCL maintains a cost advantage via a rupee-based cost base.

Competitive Moat

Moats include a 24-month customer re-qualification period and a 15+ year average customer lock-in. The 'Dual-process fortress' (EBW + Diffusion Bonding) is difficult for competitors to replicate quickly.

Macro Economic Sensitivity

Growth is highly correlated with the performance of the electrical, electronics, and automotive industries. Sluggishness in the EV market delayed anticipated growth in FY24.

Consumer Behavior

Increased demand for accurate sensing and thermal control in EVs and smart homes is driving the shift toward high-precision shunt resistors.

Geopolitical Risks

Exposure to international trade policies such as the US IRA, EU Green Deal, and India's RDSS Program which drive demand for sensing and switching components.