Shivalik Bimetal Controls Ltd (SBCL) AI Stock Analysis

• Market Cap: ₹24.47B
• Dividend Yield: 0.67%
• Average Volume (3M): 5.35K
• Price to Earnings (P/E): 27.7
• Beta (1Y): 1.69
• Revenue Growth: 4.56%
• EPS Growth: 8.11%
• Country: IN
• Employees: 514
• Sector: Services
• Sector Strength: N/A
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): 4.00
• Shares Outstanding: 57,604,200
• 10 Day Avg. Volume: 4,098
• 30 Day Avg. Volume: 5,346
• PEG Ratio: -4.06
• Price to Book (P/B): 6.53
• Price to Sales (P/S): 5.21
• P/FCF Ratio: 42.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 17.1
• Revenue Forecast (FY): ₹5.58B

• Rating: 70 Outperform
• Price Target: ₹467.00 ▲(12.17% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is primarily supported by strong underlying financial performance (profitability, prudent leverage, and good cash conversion). This is partially offset by overbought technical conditions and a relatively expensive valuation with a low dividend yield.

Positive Factors

Strong Profitability / Margins

Consistent gross and net margins point to durable operational efficiency and likely pricing power in engineered metal components. Sustained margins support reinvestment, R&D and buffer against raw-material swings, enabling steady cash generation and a competitive edge with OEM customers.

Prudent Leverage and Balance Sheet

A healthy equity ratio and low debt-to-equity indicate conservative leverage, giving flexibility to fund capex, withstand demand cycles, and honor supplier/customer obligations without heavy refinancing. This balance-sheet strength reduces default risk and supports long-term operational stability.

Cash Generation / Cash Conversion

Positive operating cash flows and improving free cash flow demonstrate efficient conversion of earnings to cash, enabling internal funding of working capital and investments. Consistent OCF-to-net-income supports sustainability and reduces reliance on external financing for growth.

Negative Factors

Recent Revenue Softness

A minor revenue decline in 2025 interrupts prior growth momentum and may reflect softness in end-markets such as metering and circuit protection. If this trend persists, it could pressure operating leverage, limit reinvestment capacity, and challenge management to restore top-line growth.

Uneven Free Cash Flow Due to Capex

Volatility in free cash flow driven by capex timing means available cash for dividends, deleveraging or opportunistic investments can swing materially year-to-year. This variability raises execution risk for multi-year projects and could force external funding during heavier investment cycles.

Customer / Commodity Exposure

Dependence on OEM demand and potential customer concentration alongside exposure to copper and nickel price swings create structural margin risk. Contract pass-through lags can compress margins during commodity spikes, while reliance on a few large buyers raises revenue volatility risk.

Shivalik Bimetal Controls Ltd Business Overview & Revenue Model

Company Description

Shivalik Bimetal Controls Limited engages in the process and product engineering business in India. It manufactures and sells thermostatic bimetal/trimetal strips, thermostatic bimetal coils and springs, components, current sense metal strip shunts/resistors, spring rolled stainless steels, EB welded products, reflow solder/presoldered strips, precision stainless steel parts, snap action discs, cold bonded bimetal strips and parts, etc. The company's products are primarily used in switchgears, protective relays, metering, automotive devices, energy and battery management devices, and various other electrical and electronic devices. It serves electronics, automotive, domestic appliances, industrial, medical, defense, and agriculture and animal husbandry appliances sectors. The company also exports its products to approximately 40 countries. Shivalik Bimetal Controls Limited was incorporated in 1984 and is headquartered in New Delhi, India.

How the Company Makes Money

Shivalik Bimetal Controls Ltd generates revenue primarily through the manufacturing and sale of bimetallic and trimetallic products. These products are essential components in devices that require precise thermal control and management, such as circuit breakers, thermostats, and various types of sensors. The company serves a broad customer base across multiple industries, including automotive, electrical, and consumer electronics, which rely on these components for safety and efficiency. Additionally, SBCL benefits from strategic partnerships and long-term contracts with key players in these sectors, enhancing its market presence and revenue stability. The company also invests in research and development to innovate and expand its product offerings, thereby tapping into new markets and increasing its revenue potential.

Shivalik Bimetal Controls Ltd Financial Statement Overview

Summary

Strong profitability and healthy EBIT/EBITDA margins support a high score. Balance sheet leverage is prudent with solid ROE, and cash conversion is consistently favorable. The score is tempered by a minor revenue decline in 2025 and uneven free cash flow growth driven by capex fluctuations.

Income Statement

Shivalik Bimetal Controls Ltd has demonstrated strong profitability with a consistent gross profit margin and net profit margin over the years. The revenue growth rate was robust until 2024 but showed a minor decline in 2025. EBIT and EBITDA margins are healthy, indicating efficient cost management and operational efficiency.

Balance Sheet

The company's balance sheet is strong, with a healthy equity ratio and moderate leverage. The debt-to-equity ratio is low, indicating prudent debt management, while the return on equity remains solid, showcasing effective use of shareholder funds. However, slight fluctuations in total assets and liabilities warrant monitoring.

Cash Flow

Cash flows are positive with an improving free cash flow, although the free cash flow growth rate is uneven across years. The operating cash flow to net income ratio is consistently favorable, suggesting efficient cash conversion from earnings. However, fluctuations in capital expenditures impact free cash flow.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	5.19B	5.08B	5.09B	4.70B	3.24B	2.04B
Gross Profit	2.11B	1.58B	1.47B	2.25B	1.57B	991.79M
EBITDA	1.25B	1.17B	1.25B	1.17B	780.37M	397.36M
Net Income	820.15M	770.55M	842.65M	791.03M	551.12M	254.89M
Balance Sheet
Total Assets	0.00	5.08B	4.43B	3.90B	3.08B	2.21B
Cash, Cash Equivalents and Short-Term Investments	790.37M	790.37M	388.23M	179.84M	112.23M	159.72M
Total Debt	0.00	419.51M	424.79M	586.65M	579.38M	292.44M
Total Liabilities	-4.06B	1.02B	1.01B	1.24B	1.16B	813.76M
Stockholders Equity	4.06B	4.06B	3.42B	2.65B	1.92B	1.40B
Cash Flow
Free Cash Flow	0.00	617.01M	467.15M	348.90M	-290.31M	147.75M
Operating Cash Flow	0.00	929.90M	685.13M	658.24M	-34.76M	298.40M
Investing Cash Flow	0.00	-607.14M	-183.88M	-431.08M	-241.78M	-147.22M
Financing Cash Flow	0.00	-225.68M	-292.08M	-184.93M	228.66M	2.69M

Shivalik Bimetal Controls Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 416.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SBCL, the sentiment is Negative. The current price of 416.35 is below the 20-day moving average (MA) of 480.17, below the 50-day MA of 450.11, and below the 200-day MA of 487.09, indicating a bearish trend. The MACD of -7.62 indicates Positive momentum. The RSI at 37.41 is Neutral, neither overbought nor oversold. The STOCH value of 7.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SBCL.

Shivalik Bimetal Controls Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SBCL	70 Outperform	₹24.47B	27.69	―	0.67%	4.56%	8.11%
UDS	63 Neutral	₹10.30B	35.45	―	―	8.98%	13.54%
RITCO	62 Neutral	₹5.50B	18.26	―	―	34.34%	2.00%
DYCL	61 Neutral	₹13.60B	18.05	―	0.07%	28.58%	54.67%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
MTNL	40 Underperform	₹17.04B	-0.63	―	―	-21.58%	-8.54%
TIL	39 Underperform	₹13.42B	-65.93	―	―	80.70%	-100.87%