Shivalik Bimetal Controls Limited has informed the Exchange about Transcript held on August 14, 2025 of Q1FY26
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Shivalik Bimetal Controls shared the transcript of its Q1FY26 earnings call held on August 14, 2025. The company reported a strong quarter with EBITDA up 32.5% and a 452 basis points margin expansion to 25.26%, driven by a better product mix, cost discipline, and operating leverage. Shunt resistors now contribute about 49% of standalone revenue, with India shunts growing 19.12% year-on-year to ₹20.29 crore and Rest of Asia rising 62.81%. Management guided for 12-15% overall revenue growth in FY26, highlighted a smart meter opportunity scaling to around ₹100 crore in the near term (with ₹140-150 crore long-term potential), and a forward-integration pipeline of PCB-mounted assemblies and new products targeting ₹150 crore of added revenue by FY27. The balance sheet remains strong with ROCE of 24.65% in FY25 and net cash of ₹77 crore to fund capacity and automation.
Positive for shareholders: robust margin expansion, clear multi-year growth levers in smart meters, PCB assemblies, and a new busbar/battery connector vertical, plus a net-cash balance sheet. Key watchpoints are US tariff exposure (now 50%) on new business development and the heavy dependence on execution of forward-integration programs for the FY27 ramp-up.