In , Shivalik Bimetal Controls Ltd (Shunt Resistors) is outperforming Nifty 500 with +32.5% relative strength. Fundamentals: Average. On a 5-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: EBITDA Margin: 24%
Impact: 400 bps expansion
“this quarter's margin expansion was supported by a mix improvement and higher supplies of value added components to some marquee global customers”
What: Revenue Potential: ₹250-300 Cr
“this capex that we talking about should bring in this assembly business with four or five projects over a 3-year period. It could be in the range of 250 to 300 crores.”
What: US Export Recovery: Restoration to peak levels
“Vishay should go back to its levels of what it used to be 2 to 3 years ago and we'll start seeing those seeing that difference”
What: ECMS Scheme: Application under examination
“the PLI has now been converted into ECMS scheme from the central government where we have already applied put our application uh which is under examination”
What: Japanese Customer Wins: 3-4 new customers
“there are two three other customers including you know Denso from Japan and there are three or four other Japanese customers as well where business is already commercial”
What: EBITDA Margin of 24%
“this quarter's margin expansion was supported by a mix improvement and higher supplies of value added components to some marquee global customers alongside cost discipline.”
Earnings deceleration risks from management commentary
Trigger: Unpredictability regarding trade barriers led customers to minimize inventory and orders.
Management view: Converting strip business into components which are less affected by certain surcharges and have higher value.
Monitor: geopolitical
Trigger: Relocating the silver contact business required carrying extra inventory during a price upswing.
Management view: Raw material pricing is generally a pass-through, though timing of inventory can cause temporary exposure.
Monitor: commodity
Trigger: Consignments expected in January arrived in December, inflating working capital.
Management view: Developing domestic suppliers to reduce lead times and inventory requirements.
Monitor: logistics
Key quotes from recent conference calls
“I think in the last earnings call you had mentioned that you’re looking at 12–15% topline growth for the full year. [Previous Topline Growth FY26 guidance]”
“our board has just approved our plans to set up a new facility in Pune for the automotive bus bars and connectors and subsequent assembly business. [Initiative: Pune Assembly Facility]”
“Quarter 3 in general has been challenging for us with unpredictability related to US tariffs. We generally experience reduced orders from our US based customers [Risk (geopolitical): HIGH]”
“silver contacts had more exposure in recent months... that's exactly the time when silver actually you know went a little bit too high. [Risk (commodity): MEDIUM]”
Headline numbers from the latest earnings call
Revenue
Not Disclosed
Why: Growth was driven by a mix improvement and higher supplies of value-added components to global customers despite US tariff challenges.
Revenue growth remained steady at 9% despite geopolitical headwinds in the US market.
Other Highlights
• Interim dividend of ₹2 per equity share declared.
• EBITDA margin increased by over 400 basis points year-on-year.
• Board approved new facility in Pune for automotive bus bars.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
EBITDA Margin
24%
Why: Shift from strip supply to value-added components and cost discipline.
Strip Form Revenue Share
36-37%
Why: Strategic push to convert strip business into higher-margin components.
Net Working Capital Days
250-260 days
Why: Early arrival of raw material consignments and increased collection periods.
Bus Bar Revenue Potential (3yr)
₹250-300 Cr
Why: Entry into EV assembly business in Pune.
Automotive Share in Shunts
60%
Switchgear Share in Bimetal
80%
Collection Period
90 days
Why: Revenue growth led to a parallel increase in receivables.
Pune Facility Capex
₹20 Cr
Why: Investment in assembly lines for forward integration.
Forward-looking targets from management for FY26-FY27
Revenue Growth Target
11%
OPM Guidance
23–25%
10-12% for FY26; 13-19% for Shunt baseline in FY27
REAFFIRMED
₹200 million
New facility in Pune for automotive bus bars and connectors.
REAFFIRMED
Guidance Changes
FY26 Revenue Growth: 12-15% → 10-12%
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +9% | +16% | Stable |
| PAT (Net Profit) | +22% | +12% | Inflection Up |
| OPM | 24.0% | +400 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Shivalik Bimetal Controls Ltd's latest quarterly results (Dec 2025) show
Shivalik Bimetal Controls Ltd's profit is growing with an turning around (inflection up) trend.
Shivalik Bimetal Controls Ltd's revenue growth trend is stable.
Shivalik Bimetal Controls Ltd's operating margin is volatile.
Shivalik Bimetal Controls Ltd's long-term compounding rates
Shivalik Bimetal Controls Ltd's earnings growth is turning around (inflection up) with weakening on a sequential basis.
Shivalik Bimetal Controls Ltd's trailing twelve month (TTM) performance
Shivalik Bimetal Controls Ltd appears significantly overvalued based on our fair value analysis.
Shivalik Bimetal Controls Ltd's current PE ratio is 40.1x.
Shivalik Bimetal Controls Ltd's current PE is 40.1x.
Shivalik Bimetal Controls Ltd's price-to-book ratio is 8.3x.
Shivalik Bimetal Controls Ltd is rated Average with a fundamental score of 45.77/100. This score is calculated from objective financial metrics
Shivalik Bimetal Controls Ltd has a debt-to-equity ratio of N/A.
Shivalik Bimetal Controls Ltd's return ratios over recent years
Shivalik Bimetal Controls Ltd's operating cash flow is positive (FY2025).
Shivalik Bimetal Controls Ltd's current dividend yield is 0.42%.
Shivalik Bimetal Controls Ltd's shareholding pattern (Mar 2026)
Shivalik Bimetal Controls Ltd's promoter holding has increased recently.
Shivalik Bimetal Controls Ltd has been outperforming Nifty 500 for 5 consecutive weeks, indicating building momentum.
Shivalik Bimetal Controls Ltd is an established outperformer with 5 weeks of consecutive Nifty 500 outperformance.
Shivalik Bimetal Controls Ltd has 6 key growth catalysts identified from recent earnings analysis
Shivalik Bimetal Controls Ltd has 3 key risks worth monitoring
In Q3 FY26, Shivalik Bimetal Controls Ltd's management highlighted
Shivalik Bimetal Controls Ltd's management has provided the following forward guidance for FY26-FY27
Shivalik Bimetal Controls Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Shivalik Bimetal Controls Ltd may be worth studying
Shivalik Bimetal Controls Ltd investment thesis summary:
Shivalik Bimetal Controls Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
