Date: 6th August 2026

Financial Performance Highlights (Consolidated)

Q1 FY27 Results Overview

Shivalik Bimetal Controls Limited reported strong financial performance for the quarter ended June 30, 2026:

Key Financial Metrics (₹ crore):

| Metric | Q1 FY27 | Q1 FY26 | YoY Change | Q4 FY26 | QoQ Change |

| Revenue from operations | 182.2 | 136.6 | +33.4% | 162.6 | +12.0% |

| Gross profit | 79.1 | 60.9 | +29.8% | 69.8 | +13.3% |

| Gross margin | 43.4% | 44.6% | -119 bps | 42.9% | +49 bps |

| EBITDA | 43.2 | 32.0 | +35.2% | 35.5 | +21.8% |

| EBITDA margin | 23.7% | 23.4% | +33 bps | 21.8% | +191 bps |

| PBT | 43.8 | 30.4 | +44.2% | 34.7 | +26.4% |

| PAT | 33.0 | 22.8 | +44.9% | 26.1 | +26.3% |

| PAT margin | 18.1% | 16.7% | +144 bps | 16.1% | +205 bps |

Standalone Performance

  • Revenue increased 13.0% to ₹131.8 crore
  • EBITDA grew 23.0% to ₹36.3 crore
  • PAT rose 25.8% to ₹26.4 crore
  • Gross margin expanded 355 basis points to 51.5%
  • EBITDA margin improved 225 basis points to 27.5%

Operational Performance Drivers

Volume and Realization Trends

Revenue growth was achieved despite a 2.5% decline in volumes (including wastage), reflecting stronger realizations and a richer product and customer mix. This is consistent with the company's strategic shift towards higher-value components and applications.

Segment-wise Performance

Product Segments:

  • Shunt Resistors: Revenue increased 18.7% to ₹68.2 crore
  • Thermostatic Bimetals: Revenue grew 7.4% to ₹63.6 crore

Geographic Performance:

  • India: Combined revenue rose 26.4% to ₹60.8 crore, increasing share of standalone core-product revenue to approximately 46%
  • Europe: Grew 21.5%, led by 72.2% increase in Shunts
  • Americas: Revenue rose 4.8%, with 30.0% Shunt growth partly offset by softer Bimetals
  • Asia Others: Revenue declined 12.7% to ₹21.3 crore, reflecting softer Shunt demand in select markets

Strategic and Operational Updates

Pune Manufacturing Facility

Subsequent to the quarter-end, the company received Consent to Operate from the Maharashtra Pollution Control Board for Phase I of its Pune manufacturing facility. The approval is valid until June 30, 2032.

The facility expands capabilities in value-added components and assemblies for:

  • Automotive electrification
  • Battery-related applications
  • Cell Connecting Systems
  • Busbar connectors
  • PCBA assemblies

Management Changes

The company received a resignation letter dated August 6, 2026, from Mr. Rajeev Ranjan, Chief Financial Officer, citing personal reasons with effect from the close of business on October 31, 2026. The company plans to ensure an orderly transition while maintaining continuity across finance, reporting and regulatory responsibilities.

Management Commentary

Mr. Kabir Ghumman, Managing Director, highlighted:

  • Strong start to FY27 with consolidated revenue growth of 33%, EBITDA growth of 35%, and PAT growth of 45%
  • Standalone EBITDA margin expansion to 27.5% supported by better realizations, stronger product mix, and disciplined execution
  • India delivered broad-based growth across both Shunts and Bimetals
  • Europe and Americas showed stronger Shunt performance, with Americas indicating early signs of recovery
  • Asia remains softer and continues to be an area of management focus
  • Immediate priorities for Pune facility: complete customer and process qualifications, establish stable production systems, and scale Cell Connecting Systems, busbar connectors and PCBA assemblies
  • Focus remains on margin quality, working-capital discipline, cash conversion, and selective capital allocation

Company Background

Shivalik Bimetal Controls Limited, founded in 1984 and headquartered in New Delhi, is a specialized engineering and advanced manufacturing company with integrated capabilities across precision materials, current-sensing components, switching solutions and value-added assemblies.

Manufacturing Facilities: Chambhaghat and Kather (Solan), Pune

Employee Strength: Approximately 1,000 people

Customer Base: More than 300 customers globally

Proprietary Processes: Electron Beam Welding, Diffusion Bonding, Cold Bonding, and precision strip processing

Applications: Electrical, electronics, automotive, industrial, switchgear, smart metering, battery management, and energy management applications