Shivalik Bimetal Controls Reports Strong FY26 Performance with Consolidated PAT Up 24.8% and EBITDA Margin Expansion

Shivalik Bimetal Controls Reports Strong FY26 Performance with Consolidated PAT Up 24.8% and EBITDA Margin Expansion​

Shivalik Bimetal Controls Limited (SBCL) announced its audited financial results for the quarter and year ending March 31, 2026, highlighting a strong fiscal year marked by healthy revenue growth and improved earnings quality. The company reported that consolidated revenue from operations grew 12.3% year-over-year (YoY) to ₹570.9 crore. Profitability saw significant gains, with EBITDA increasing 26% YoY to ₹130.7 crore, and Profit After Tax (PAT) growing 24.8% YoY to ₹95.8 crore.

Financial Performance Overview​

The financial results showcase an uptick in profitability and efficiency across the consolidated business.

Drivers of Growth and Operational Shifts​

The company attributes its robust financial performance to a margin-led growth trajectory, enhanced earning quality, and a strategic shift towards value-added products. The expansion in both gross margin and EBITDA margin indicates that incremental revenue was achieved at a stronger contribution rate.

For the full fiscal year, EBITDA margin expanded by approximately 250 basis points (bps) to 22.9%. This improved margin was supported by stronger realizations and an optimal product mix, which included increased contribution from value-added components. Furthermore, the gross margin improved by approximately 212 bps to 45.2%, reflecting stronger value capture across the entire portfolio.

On a standalone basis, revenue grew 5.7% YoY to ₹462.0 crore. While total product volumes declined 0.6% YoY, the standalone revenue growth was fueled by better average realization and increasing participation in higher-value applications.

The firm's core strategy continues to move the product mix towards components, which are deemed structurally more valuable than traditional strip-led supply. The Pune facility plays a key role in this roadmap, focusing on providing PCBA and busbar assembly solutions for the automotive and electrification sectors, enabling the company to serve Original Equipment Manufacturers (OEM) and Tier-1 customers with integrated solutions.

Segment and Geographic Performance​

The strong overall performance was underpinned by robust growth in several key segments and markets.

Shunt Resistors: This segment demonstrated value-led growth, with revenue increasing 8.6% YoY to ₹230.7 crore, despite lower volumes. India was the primary driver, with Shunt revenue rising 27.4% YoY to ₹85.4 crore, driven by applications in smart metering, battery management, and energy management. Europe also saw significant growth of 14.5% YoY.

Thermostatic Bimetals: Revenue for Bimetals grew 2.9% YoY to ₹231.3 crore, benefiting from strong traction in Europe. Europe emerged as the standout market for the segment, with Bimetal revenue increasing 47.0% YoY to ₹50.7 crore.

Electrical Contacts: This business segment delivered strong growth, supported by higher business values and increases in commodity prices like silver.

Geographically, India remained the largest market for the company, contributing approximately ₹200.2 crore in FY26. Europe emerged as a key growth engine, achieving a combined Shunt and Bimetal revenue growth of 33.3% YoY to ₹79.4 crore. Meanwhile, Asia Others showed broad-based momentum, with combined revenue increasing 24.2% YoY to ₹79.9 crore. The Americas remained soft during FY26, showing a 16.0% YoY decline in combined Shunt and Bimetal revenue, although management observed early signs of normalization in underlying consumption.

Strategic Outlook​

Company leadership stated that the overall performance validated the focus on higher-value components and better realizations. The shift in focus towards becoming a precision components and assemblies platform supports capturing larger, strategic opportunities closer to OEM and Tier-1 customers. While acknowledging that the American market was soft in FY26, the firm remains committed to viewing North America as an important long-term market and expects improvement in the upcoming financial year. The company plans to continue prioritizing margin quality, working-capital efficiency, and deepening customer partnerships in the coming year.

SBCL Stock Price Movement​

Today, Shivalik Bimetal Controls Limited shares edged higher, settling at ₹601.75, recording a gain of 0.08% for the session. The stock saw substantial activity in post-market trading, with a volume of 155,381 shares recorded today.