Synopsis: Electrical component firm posted strong Q4 FY26 results with revenue rising 22.8% YoYand PAT up 23.8%. FY26 revenue grew 12.3% to Rs. 570.9 crore with robust demand for value-added shunts, margin expansion, and strong domestic growth supporting the long-term outlook.
The shares of the company are engaged in the business of manufacturing & sales of Thermostatic Bimetal /Trimetal strips and Components, Current Sense Metal Strip Shunts/Resistors, SMD Current Sense Resistors, and etc are in the spotlight after it rose by 9 percent in today’s session following its Q4 results.
With a market capitalisation of Rs. 3,641 cr, the shares of Shivalik Bimetal Controls Ltd were trading at Rs. 632.10 per share, surging 9% in today’s market session, making a high of Rs. 647.45, up from its previous close of Rs. 596.15 per share.
Q4 FY26 Performance
The company reported strong quarterly growth with revenue from operations rising 22.8% YoY to Rs. 162.7 crore from Rs. 132.4 crore. Gross profit increased 22.4% to Rs. 69.8 crore from Rs. 57 crore, while EBITDA grew 24.5% to Rs. 35.5 crore from Rs. 28.5 crore, with margins improving slightly to 21.8% from 21.5%. Profitability also strengthened, as PAT rose 23.8% YoY to Rs. 26.1 crore from Rs. 21.1 crore, reflecting stable margin expansion and improved operating efficiency.
FY26 Performance
For FY26, revenue increased 12.3% YoY to Rs. 570.9 crore from Rs. 508.3 crore, supported by a higher gross profit of Rs. 258.1 crore and EBITDA growth of 26% to Rs. 130.7 crore from Rs. 103.7 crore. EBITDA margin expanded sharply by 250 bps to 22.9% from 20.4%, while PAT rose 24.8% to Rs. 95.8 crore from Rs. 76.8 crore with margin improvement to 16.8% from 15.1%. Overall, the company delivered broad-based growth with meaningful margin expansion across key metrics.
Strong mix-driven growth across geographies and segments
FY26 performance was supported by improved product mix, better realisations and diversified geographic exposure, with growth across India, Europe and Asia offsetting softness in the Americas, along with rising focus on value-added products.
Shunt Resistors grew 8.6% YoY to Rs. 230.7 crore, led by strong India demand (+27.4%) from automotive, smart metering and battery management applications, while Europe and Asia also showed steady growth.
Thermostatic Bimetals increased 2.9% YoY to Rs. 231.3 crore, driven mainly by strong European demand (+47%). The Electrical Contacts business also delivered robust growth, with subsidiary revenue rising over 54%, supported by higher value business and commodity price-led realisations.
India remained SBCL’s largest market in FY26, contributing around Rs. 200.2 crore across the Shunt and Bimetal segments, maintaining its strong domestic leadership.
Europe emerged as a key growth driver, with combined revenue rising 33.3% YoY to Rs. 79.4 crore, while Asia Others grew 24.2% YoY to Rs. 79.9 crore, supported by broad-based demand. The Americas, however, declined 16% YoY, though early signs of demand normalisation are visible, with expectations of recovery in FY27.
In conclusion, Shivalik Bimetal’s performance highlights a strong growth trajectory supported by rising demand for value-added shunts and a favourable product mix across geographies. With steady domestic momentum, improving margins, and gradual recovery in export markets, the company appears well-positioned to sustain long-term revenue growth, driven by increasing adoption of advanced electrical components globally.
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