Shivalik Bimetal Controls posts solid numbers for Q2FY23 in tandem with rising global demand

Financial Highlights:

• Total Income for Q2FY23 grew by 39.7% YoY on account of strong quantity progress and better realizations. Total Income for H1FY23 grew by 40.1% YoY to Rs. 208.17 crore
• Q2FY23 EBITDA as a share of Total Income grew by 203 bps YoY to 26.5%, whereas H1FY23 EBITDA margin grew by 251 bps YoY to 26.51%
• Profit after Tax for Q2FY23 elevated by 44.19% YoY to Rs. 18.37 crore
• The gross sales worth of Shunt Resistors for H1FY23 grew by 33.23% YoY to achieve Rs. 100.47 crore, whereas gross sales worth of Bimetals grew by 43.74% YoY to achieve Rs. 102.03 crore

NEW DELHI, Nov. 8, 2022 /PRNewswire/ — At a gathering held on November 4th, 2022, the Board of Directors of Shivalik Bimetal Controls Ltd. launched the outcomes for Q2FY23. One of the global leaders in next-generation thermostatic bimetal/trimetal strips and shunt resistors, the Company delivered solid efficiency in Q2FY23 with YoY Total Income progress at 39.73%.

(Rs. In crore) (Standalone Figures)

All product segments witnessed solid progress throughout H1FY23: thermostatic bimetal & trimetal strips grew by 43.74% YoY to achieve Rs. 102.03 crore, whereas shunt resistors grew by 33.23% YoY to achieve Rs. 100.47 crore. In H1FY23, revenues from thermostatic bimetal/trimetal strips compromised 50.39% of the whole income, whereas shunt resistors accounted for 49.61% of total revenues.

“Our strong overall performance in Q2FY23 demonstrates sustained solid growth that truly reflects the growing demand of the marketplace,” mentioned Mr. N.S. Ghumman, Managing Director. “Investing in intellectual capital and continuing to deliver high value is at the forefront of our growth strategy. In addition, the growing demand in high-growth segments such as EVs and smart metering, are paving the way for expanding our client base, while also offering more customisation for our existing clients with whom we enjoy long-term relationships,” he added.

Mr. Rajeev Ranjan, Chief Financial Officer, added, “We are well positioned for a steep growth incline and are focusing on new and established clients’ evolving needs in sync with the technological trends of today and tomorrow. Our H1FY23 results are more reflective of our strengths in delivering sustained earnings. Furthermore, being under leveraged with low debt levels give us ample headroom to raise capital to support our growth. This also places us in an ideal position to take advantage of new high-growth opportunities in the future.”

About Shivalik Bimetal Controls Ltd.

Founded in 1984, and headquartered out of New Delhi, Shivalik Bimetal Controls Limited is a course of and product engineering specialised business primarily based in India. It manufactures and sells thermostatic bimetal/trimetal strips for switching elements used in electrical, electronics, automotive, agricultural, medical, defence, and industrial purposes. The Company additionally makes shunt resistors for use in the excessive progress automotive and industrial tools segments. The rising demand for switchgear, battery administration and good metering techniques are additionally conveying sturdy long-term prospects for Shivalik’s product traces. With its distinctive business mannequin primarily based on proprietary bimetal applied sciences and area of interest options that OEMs demand, Shivalik thrives in an trade with excessive entry boundaries. Today, as a valued vendor, the Company is making a mark in supplying high-quality bimetals and shunt resistors to the fast-emerging electrical autos and customisable good meters of the longer term,

Shivalik’s extremely skilled administration has led the Company to distinguished possession in expertise and purposes. Its solid steadiness sheet, mixed with prudent capital administration, drives Shivalik’s sturdy progress potential. With vegetation in Chambhaghat and Kather, Solan, operated by a group of 640 vastly expert folks, Shivalik serves greater than 125 shoppers globally.

Source link