Transcript of earnings call Q4 & FY26
SBCL · price
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Shivalik Bimetal Controls reported FY26 consolidated revenue of ₹570.9 crore (up 12.3%), EBITDA of ₹130.7 crore (up 26.0%), and PAT of ₹95.8 crore (up 24.8%), with EBITDA margin expanding by 250 basis points to 22.9%. The company attributed growth to better realizations, improved product mix, and operating leverage. Smart meter revenue nearly doubled to over ₹75-80 crore, with expectations of similar growth in FY27. The electric contacts division saw ~60% revenue growth, with ~31-32% from actual business growth and the remainder from silver price increases. Management guided that the new Pune facility for busbar/PCBA assemblies could generate ₹250-350 crore revenue potential in 2-3 years, targeting 2-wheeler EV and CCS applications. US business with a key customer is expected to recover to peak levels from 2-3 years ago, with all new business now in higher-value component form.
Strong margin expansion and multi-year growth visibility in new EV-related segments signal solid fundamental improvement. The disclosed order pipeline and multi-year revenue targets for busbar/PCBA business provide confidence in continued earnings quality, though smart meter growth faces some execution risk.