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Shivalik Bimetal Controls Q2 FY27 results: net profit up 39.8% to ₹34.75 crore, revenue up 44.0%
Shivalik Bimetal Controls Limited reported consolidated Q2 FY27 revenue of ₹197.79 crore, up 44.0% from Q2 FY26, while net profit rose 39.8% to ₹34.75 crore and EBITDA margin expanded 2.8 percentage points to 25.4%. On a sequential basis, revenue increased 8.6% from Q1 FY27 and net profit rose 5.3%.
Key points
- Consolidated Q2 FY27 revenue was ₹197.79 crore, up 44.0% from ₹137.40 crore in Q2 FY26.
- EBITDA was ₹50.20 crore, up 61.6% year on year, while the margin rose 2.8 percentage points to 25.4%.
- Net profit was ₹34.75 crore, up 39.8% from ₹24.85 crore, and basic EPS increased 36.3% to ₹5.82.
- Against Q1 FY27, revenue rose 8.6% to ₹197.79 crore and net profit increased 5.3% to ₹34.75 crore.
- H1 FY27 revenue was ₹379.98 crore, up 38.7%, while net profit rose 42.5% to ₹67.87 crore.
How did Shivalik Bimetal Controls perform in Q2 FY27?
Shivalik Bimetal Controls reported consolidated revenue of ₹197.79 crore for Q2 FY27, up 44.0% from ₹137.40 crore in Q2 FY26 and 8.6% from ₹182.20 crore in Q1 FY27. EBITDA was ₹50.20 crore, compared with ₹31.07 crore and ₹43.21 crore in the respective earlier quarters. The EBITDA margin was 25.4%, up 2.8 percentage points year on year and 1.7 percentage points sequentially.
Consolidated net profit was ₹34.75 crore in Q2 FY27, up 39.8% from ₹24.85 crore a year earlier and 5.3% from ₹33.01 crore in the previous quarter. Basic EPS was ₹5.82, against ₹4.27 in Q2 FY26 and ₹5.73 in Q1 FY27. On the standalone basis, revenue was ₹144.91 crore and net profit was ₹29.81 crore, with revenue growth of 22.4% and profit before tax of ₹21.17 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 197.79 | 182.20 | 137.40 | +44.0% | +8.6% |
| Other income | 2.97 | 3.34 | 3.60 | −17.5% | −11.1% |
| Total expenses | 155.10 | 144.24 | 110.83 | +39.9% | +7.5% |
| EBITDA | 50.20 | 43.21 | 31.07 | +61.6% | +16.2% |
| EBITDA margin | 25.4% | 23.7% | 22.6% | +2.8 pp | +1.7 pp |
| Profit before tax | 45.66 | 41.56 | 30.17 | +51.3% | +9.9% |
| Tax | 12.05 | 10.83 | 7.58 | +59.0% | +11.3% |
| Net profit | 34.75 | 33.01 | 24.85 | +39.8% | +5.3% |
| EPS (₹) | 5.82 | 5.73 | 4.27 | +36.3% | +1.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Shivalik Bimetal Controls' costs and profit?
Total expenses were ₹155.10 crore in Q2 FY27, up ₹44.27 crore from ₹110.83 crore in Q2 FY26. Cost of materials rose by ₹59.09 crore to ₹131.78 crore, employee cost by ₹1.69 crore to ₹16.32 crore, finance costs by ₹0.97 crore to ₹2.11 crore, depreciation by ₹2.05 crore to ₹5.41 crore and other expenses by ₹4.49 crore to ₹23.47 crore. Other income declined by ₹0.63 crore to ₹2.97 crore.
Profit before tax increased by ₹15.49 crore to ₹45.66 crore from ₹30.17 crore in Q2 FY26. Tax was ₹12.05 crore, up ₹4.47 crore from ₹7.58 crore, while there was no exceptional item in either quarter. Against Q1 FY27, total expenses were higher by ₹10.86 crore, other income was lower by ₹0.37 crore, and tax was higher by ₹1.22 crore; Q1 FY27 included an exceptional gain of ₹0.26 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 131.78 | 72.69 | +59.09 | +81.3% |
| Employee cost | 16.32 | 14.63 | +1.69 | +11.6% |
| Finance costs | 2.11 | 1.14 | +0.97 | +85.1% |
| Depreciation | 5.41 | 3.36 | +2.05 | +61.0% |
| Other expenses | 23.47 | 18.98 | +4.49 | +23.7% |
| Total expenses | 155.10 | 110.83 | +44.27 | +39.9% |
| Other income | 2.97 | 3.60 | −0.63 | −17.5% |
| Tax | 12.05 | 7.58 | +4.47 | +59.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹379.98 crore, up ₹105.98 crore or 38.7% from ₹274.0 crore in H1 FY26. Total income rose 38.2% to ₹386.56 crore from ₹279.76 crore. Profit before tax increased 45.6% to ₹87.37 crore from ₹59.99 crore.
H1 FY27 net profit was ₹67.87 crore, up ₹20.24 crore or 42.5% from ₹47.63 crore in H1 FY26. Basic EPS increased 40.3% to ₹11.55 from ₹8.23.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 379.98 | 274 | +38.7% |
| Profit before tax | 87.37 | 59.99 | +45.6% |
| Net profit | 67.87 | 47.63 | +42.5% |
| EPS (₹) | 11.55 | 8.23 | +40.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹748.0 crore, up from ₹635.98 crore at 31 March 2026, while total equity was ₹536.37 crore, compared with ₹481.35 crore. Borrowings rose to ₹75.66 crore from ₹59.39 crore and cash increased to ₹8.9 crore from ₹6.98 crore. Inventories were ₹234.56 crore, trade receivables ₹165.72 crore and trade payables ₹80.72 crore.
H1 FY27 operating cash flow was ₹11.9 crore, compared with ₹18.6 crore in H1 FY26. Investing cash flow was negative ₹10.51 crore, compared with negative ₹47.07 crore, while financing cash flow was ₹0.53 crore versus ₹10.49 crore. Capital expenditure was ₹28.7 crore, compared with ₹19.98 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 748 | 635.98 |
| Total equity | 536.37 | 481.35 |
| Borrowings | 75.66 | 59.39 |
| Cash and equivalents | 8.90 | 6.98 |
| Inventories | 234.56 | 153.03 |
| Trade receivables | 165.72 | 155.55 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 11.90 | 18.60 |
| Cash from investing | −10.51 | −47.07 |
| Cash from financing | 0.53 | 10.49 |
| Capital expenditure | 28.70 | 19.98 |
Source: Company's results filing (XBRL).
How has Shivalik Bimetal Controls done over the last 8 quarters?
Revenue and net profit have risen year on year in each of the last seven and six quarters, respectively. Across the reported period, revenue bottomed at ₹123.28 crore in Q3 FY25 and reached ₹197.79 crore in Q2 FY27. Net profit bottomed at ₹18.24 crore in Q3 FY25 and rose to ₹34.75 crore in Q2 FY27.
The EBITDA margin bottomed at 19.9% in Q3 FY25 and peaked at 25.4% in Q2 FY27. After reaching 24.0% in Q3 FY26, it moved lower to 21.8% in Q4 FY26, then rose to 23.7% in Q1 FY27 and 25.4% in Q2 FY27. Revenue and net profit were also at their highest levels in the latest quarter.
What else did the company announce?
The board approved an interim dividend of Rs. 2 per equity share on 57,604,200 equity shares of Rs. 2 each. The record date was fixed as 13 November 2026, with payment or dispatch on or before 3 December 2026. It also proposed two bonus shares of Rs. 2 each for every existing share, subject to shareholder approval, and proposed increasing authorised share capital from Rs. 15,00,00,000 to Rs. 40,00,00,000.
The company said it had selected a CFO expected to join in January 2027, while Whole-time Director Sumer Ghumman would take on additional CFO responsibilities on an interim basis. The board also noted the resignation of Company Secretary Aarti Sahni effective 7 December 2026 and the restructuring of bank borrowing and credit facilities for wholly owned subsidiary Shivalik Engineered Products Private Limited.
How did Shivalik Bimetal Controls shares react?
The stock was down 6.3% after five minutes, 5.3% after 15 minutes and 5.0% after 30 minutes from the price when the filing appeared. It closed the reaction day 1.0% above its pre-results close, while the Iron & Steel Products industry median rose 1.6%. By the next day's close, the stock was down 6.1% from the pre-results close, compared with a 2.9% industry median gain.
Earlier reaction-day moves included gains of 19.9% on 6 August 2026, 6.0% on 18 May 2026 and 5.5% on 5 February 2026. The stock also moved down 2.8% on 12 November 2025 and up 4.3% on 13 August 2025.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| 5 minutes | −6.3% | |
| 15 minutes | −5.3% | |
| 30 minutes | −5.0% | |
| Reaction day | +1.0% | +1.6% |
| Next day | −6.1% | +2.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 6 August 2026 | +19.9% |
| 18 May 2026 | +6.0% |
| 5 February 2026 | +5.5% |
| 12 November 2025 | −2.8% |
| 13 August 2025 | +4.3% |
| 29 May 2025 | −0.8% |
| 12 February 2025 | −4.9% |
| 6 November 2024 | +3.4% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Among 46 Iron & Steel Products companies compared for revenue growth, the median was 13.4%. Of the peers with comparable revenue growth, 36 grew more slowly than Shivalik Bimetal Controls and 10 grew faster than the company. Profit was higher at 29 of the 49 companies whose profit was compared.
| Shivalik Bimetal Controls revenue growth (YoY) | +44.0% |
|---|---|
| Median of 46 other Iron & Steel Products companies | +13.4% |
| Companies with slower revenue growth than Shivalik Bimetal Controls | 36 of 46 |
| Companies with faster revenue growth than Shivalik Bimetal Controls | 10 of 46 |
| Companies whose net profit rose | 29 of 49 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shivalik Bimetal Controls' revenue in Q2 FY27?
Revenue from operations was ₹197.79 crore, up 44.0% from ₹137.40 crore in Q2 FY26 (consolidated).
Did Shivalik Bimetal Controls make a profit in Q2 FY27?
Yes. Net profit was ₹34.75 crore, against a net profit of ₹24.85 crore in Q2 FY26.
What was Shivalik Bimetal Controls' EPS in Q2 FY27?
Basic earnings per share were ₹5.82, against ₹4.27 in Q2 FY26.
How did Shivalik Bimetal Controls shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.0% from the previous close; the median Iron & Steel Products stock moved +1.6%.
When did Shivalik Bimetal Controls announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Standalone & Consolidated Financial Results For The Quarter Ended September 30, 2026 (BSE, 28 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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