Any current/future new fundraising through debt or equity?

The company has already incurred capex for current capacities (shunt and bimetal) up to ₹1200-1300 crore. New capex will be required for sub-assemblies product line and forward integration, plus ongoing maintenance and automation capex (~₹10-15 crore per year). Rajeev Ranjan mentioned that it is too early to disclose specific capex amounts for forward integration; details may be shared in the next earnings call. There was no explicit mention of any current or planned fundraising through debt or equity in the transcript. The company maintains a strong balance sheet with net debt at zero, indica

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

Existing capex for shunt and bimetal capacity up to ₹1200-1300 crore is already incurred. New capex will be required for forward integration into sub-assemblies product line once clear orders are in the pipeline. Continuous maintenance and automation capex is estimated at ₹10-15 crore per year. No major capacity expansion capex currently needed for existing infrastructure. Forward integration and continuous automation improvements are strategic priorities. Board emphasizes selective investment in scalable capacity and innovation aligned with long-term demand. Announcement or quantification of

Future growth expectations in sales/revenue/volumes?

Q4 FY25 showed a positive recovery with sales coming back on track after consumption issues earlier in the year. Double-digit revenue growth is expected in FY26, with estimates of at least 15% consolidated growth. Shunt segment anticipated to grow 15-18%, bimetal segment 12-16%. Smart meter business to grow significantly, around 50% growth expected this year, though it currently comprises ~10% of revenue. New product developments like smart DC sensors are expected to start contributing commercially by late FY26 or FY27. Export markets in Europe and ASEAN are improving with new customers onboar

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

FY25 EBITDA grew 25% YoY with margin expansion over 400 bps to 23.17%; PBT rose 30% with margins over 20%. Despite a 2.7% revenue dip in FY25, operating efficiency was maintained with EBITDA margin at 22.28%. Management expects double-digit growth for FY26 driven by smart meter, bimetal, and shunt businesses, targeting >15% consolidated growth. Strong growth anticipated in smart meter segment (~30-50% YoY growth projected). Bimetal and shunt businesses expected to grow in the range of 12-18%. Expansion in export markets (Europe, Americas, ASEAN) and domestic market forecasted with ex

Current/ Expected Orderbook/ Pending Orders?

The transcript does not provide explicit figures or detailed commentary on the current or expected order book or pending orders. However, Rajeev Ranjan mentioned improvements in Q4 sales, indicating recovery from previous consumption issues across domestic and global markets. Discussions with customers in the switchgear segment are positive, with expectations of 2x growth by 2028-29, implying a growing order pipeline. Increased inquiries and opportunities in the automotive EV segment are noted, especially in North America. New clients onboarded in Europe and ASEAN markets along with existing c

IN US

Sale is live|00:00:00left today

Shivalik Bimetal Controls LtdQ1 FY25Industrial Products

Shivalik Bimetal Controls Ltd Q1 FY25 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

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

→Q4 FY25 showed a positive recovery with sales coming back on track after consumption issues earlier in the year.
→Double-digit revenue growth is expected in FY26, with estimates of at least 15% consolidated growth.
→Shunt segment anticipated to grow 15-18%, bimetal segment 12-16%.
→Smart meter business to grow significantly, around 50% growth expected this year, though it currently comprises ~10% of revenue.
→New product developments like smart DC sensors are expected to start contributing commercially by late FY26 or FY27.
→Export markets in Europe and ASEAN are improving with new customers onboarded.
→Forward integration and new sub-assembly product lines (with potential new capex) aim to scale revenues substantially over the next few years.
→Industry outlooks expect growth driven by infrastructure upgrades, EV market expansion, and renewable energy applications.
→Overall, management confident of sustained double-digit growth driven by product innovation, geographic expansion, and increased value addition.

Margin guidance

Category 3

→FY25 EBITDA grew 25% YoY with margin expansion over 400 bps to 23.17%; PBT rose 30% with margins over 20%.
→Despite a 2.7% revenue dip in FY25, operating efficiency was maintained with EBITDA margin at 22.28%.
→Management expects double-digit growth for FY26 driven by smart meter, bimetal, and shunt businesses, targeting >15% consolidated growth.
→Strong growth anticipated in smart meter segment (~30-50% YoY growth projected).
→Bimetal and shunt businesses expected to grow in the range of 12-18%.
→Expansion in export markets (Europe, Americas, ASEAN) and domestic market forecasted with export share around 55-58%.
→New product development (smart DC current sensor, PCBA segment) expected to contribute to revenue starting late FY26/FY27.
→Selective capex and innovation investments planned to support growth and improve automation.
→Return on capital employed remains robust at ~24.65%, with zero net debt ensuring financial discipline.

3 more insights locked — sign up free to unlock

Fundraise plans

→The company has already incurred capex for current capacities (shunt and bimetal) up to ₹1200-1300 crore.
→New capex will be required for sub-assemblies product line and forward integration, plus ongoing maintenance and automation capex (~₹10-15 crore per year).
→Rajeev Ranjan mentioned that it is too early to disclose specific capex amounts for forward integration; details may be shared in the next earnings call.
→There was no explicit mention of any current or planned fundraising through debt or equity in the transcript.
→The company maintains a strong balance sheet with net debt at zero, indicating no immediate need for external debt.
→Any future fundraising would likely depend on clear orders and project timelines related to new product lines and capacity expansions.

Order book

Yes

→The transcript does not provide explicit figures or detailed commentary on the current or expected order book or pending orders.
→However, Rajeev Ranjan mentioned improvements in Q4 sales, indicating recovery from previous consumption issues across domestic and global markets.
→Discussions with customers in the switchgear segment are positive, with expectations of 2x growth by 2028-29, implying a growing order pipeline.
→Increased inquiries and opportunities in the automotive EV segment are noted, especially in North America.
→New clients onboarded in Europe and ASEAN markets along with existing clients suggest a strengthening order flow.
→Forward integration projects targeting a potential ₹150 crore yearly opportunity by FY27 indicate expected future orders.
→Overall, demand is seen as promising moving into FY26 with a growth outlook of over 15%.

Capex plans

Yes

→Existing capex for shunt and bimetal capacity up to ₹1200-1300 crore is already incurred.
→New capex will be required for forward integration into sub-assemblies product line once clear orders are in the pipeline.
→Continuous maintenance and automation capex is estimated at ₹10-15 crore per year.
→No major capacity expansion capex currently needed for existing infrastructure.
→Forward integration and continuous automation improvements are strategic priorities.
→Board emphasizes selective investment in scalable capacity and innovation aligned with long-term demand.
→Announcement or quantification of new capex likely in the next earnings call once orders firm up.

How does Shivalik Bimetal Controls Ltd rank vs peers in Industrial Products?

Pro feature

1Shivalik Bimetal Controls Ltd

Rev 3Mar 3

See full Industrial Products sector rankings

Want more stocks like Shivalik Bimetal Controls Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio