Any current/future new fundraising through debt or equity?

There is no mention of any current or planned fundraising through debt or equity in the transcript. The company plans a capex of INR 20 crore for setting up a new assembly facility in Pune for automotive bus bars and connectors. This capex will be managed through internal accruals and approvals, not through external fundraising. The focus is on measured investments funded internally to support forward integration and growth initiatives. No indications of raising additional funds via equity or debt were discussed during the earnings call.

Any current/future capex/capital investment/strategic investment?

Shivalik Bimetal Controls Limited plans a capital expenditure of ₹20 crore for setting up a new assembly facility in Pune focused on automotive bus bars and connectors. This facility is designed to support forward integration into high-value assemblies for e-mobility and energy storage applications. The new Pune plant will commence phased capacity addition from Q1 FY27, targeting revenue of ₹70-75 crore in FY27, scaling up to ₹250-300 crore over the next 3 years. The ₹20 crore capex primarily covers assembly line setup; major costly equipment for welding and other processes is already in place

Future growth expectations in sales/revenue/volumes?

Expected overall revenue growth around 12-15% for FY27-FY28, improving from ~9% in previous year despite tariff-related challenges. Volume growth guidance of about 4-5% for the year, with 3% volume growth recorded in first 9 months. Shunt business expected to see stronger volume growth, around 13-19% over next few years due to new commercial orders from customers including Vishay and Japanese firms. New assembly business (busbar and PCB assembly) planned to contribute Rs. 70-75 crore revenue in FY27, scaling up to Rs. 250-300 crore by FY29. US market expected to regain traction post tariff red

Future growth expectations in earnings/operating earnings/profits/EPS?

The company expects steady growth with improving quality of earnings as it moves up the value chain, particularly through forward integration like the Pune assembly plant initiative. For FY27, revenue growth guidance is around 10-12%, with expectations to maintain or improve this post-tariff disruptions. Shunt business baseline growth is anticipated between 13-19%, driven by new customers and product developments. EBITDA margins are expected to remain stable in the 23-25% range despite forward integration of lower-margin assembly products; potential margin improvements exist from operating lev

Current/ Expected Orderbook/ Pending Orders?

Shivalik has several ongoing orders related to automotive busbar and PCB assembly businesses. The Pune facility is being set up to cater to 4-5 major projects already in hand, with initial business starting March FY27. Expected orderbook contribution from new assembly business: - FY27: ~70-75 crore INR - FY28: ~150-200 crore INR - FY29: ~250-300 crore INR These are confirmed projects with components designed and developed, not just plans. The company is seeing new orders in shunt and thermostatic bimetal segments, with a rebound expected in US exports post tariff resolutions. Growth indi

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Shivalik Bimetal Controls LtdQ4 FY27Industrial Products

Shivalik Bimetal Controls Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹756P/E: 37.5Market Cap: ₹3.4K CrSector: Industrial Products

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

→Expected overall revenue growth around 12-15% for FY27-FY28, improving from ~9% in previous year despite tariff-related challenges.
→Volume growth guidance of about 4-5% for the year, with 3% volume growth recorded in first 9 months.
→Shunt business expected to see stronger volume growth, around 13-19% over next few years due to new commercial orders from customers including Vishay and Japanese firms.
→New assembly business (busbar and PCB assembly) planned to contribute Rs. 70-75 crore revenue in FY27, scaling up to Rs. 250-300 crore by FY29.
→US market expected to regain traction post tariff reductions, aiding growth especially in thermostatic bimetal and shunt segments.
→Growth will be driven by a blend of volume increase and price/realization growth, e.g., 5% volume growth correlating with 12-15% value growth.

Margin guidance

Category 3

→The company expects steady growth with improving quality of earnings as it moves up the value chain, particularly through forward integration like the Pune assembly plant initiative.
→For FY27, revenue growth guidance is around 10-12%, with expectations to maintain or improve this post-tariff disruptions.
→Shunt business baseline growth is anticipated between 13-19%, driven by new customers and product developments.
→EBITDA margins are expected to remain stable in the 23-25% range despite forward integration of lower-margin assembly products; potential margin improvements exist from operating leverage.
→Assembly business (busbar and PCB) is forecasted to contribute ₹70-75 crore in FY27, growing to ₹250-300 crore by FY29, supporting top-line and margin expansion.
→Opportunities in US market expected to drive volume and realization growth, with volume growth around 5% and realization growth of 12-15%.
→Overall, the focus is on sustainable profit growth through better mix, cost discipline, and higher-value components.

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Fundraise plans

→There is no mention of any current or planned fundraising through debt or equity in the transcript.
→The company plans a capex of INR 20 crore for setting up a new assembly facility in Pune for automotive bus bars and connectors.
→This capex will be managed through internal accruals and approvals, not through external fundraising.
→The focus is on measured investments funded internally to support forward integration and growth initiatives.
→No indications of raising additional funds via equity or debt were discussed during the earnings call.

Order book

→Shivalik has several ongoing orders related to automotive busbar and PCB assembly businesses.
→The Pune facility is being set up to cater to 4-5 major projects already in hand, with initial business starting March FY27.
→Expected orderbook contribution from new assembly business:
→ - FY27: ~70-75 crore INR
→ - FY28: ~150-200 crore INR
→ - FY29: ~250-300 crore INR
→These are confirmed projects with components designed and developed, not just plans.
→The company is seeing new orders in shunt and thermostatic bimetal segments, with a rebound expected in US exports post tariff resolutions.
→Growth indications from customers point to steady volume increases and additional higher-value order inflows.

Capex plans

Yes

→Shivalik Bimetal Controls Limited plans a capital expenditure of ₹20 crore for setting up a new assembly facility in Pune focused on automotive bus bars and connectors.
→This facility is designed to support forward integration into high-value assemblies for e-mobility and energy storage applications.
→The new Pune plant will commence phased capacity addition from Q1 FY27, targeting revenue of ₹70-75 crore in FY27, scaling up to ₹250-300 crore over the next 3 years.
→The ₹20 crore capex primarily covers assembly line setup; major costly equipment for welding and other processes is already in place.
→Future expansions depend on potential opportunities, with consideration for adding another facility if needed.
→The capex will be funded through internal accruals.
→The strategy aims to broaden customer solutions, improve quality of earnings, and strengthen competitive positioning.

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