Shivalik Bimetal Controls reported a 24.8% rise in consolidated profit after tax to ₹95.84 crore for FY26. The company also proposed a final dividend of ₹2 per share, bringing the total to ₹4 for the fiscal year.
Shivalik Bimetal Controls Reports Strong FY26 Performance, Proposes Final Dividend
Consolidated PAT ₹95.84 crore; Revenue ₹570.86 crore; Proposed Final Dividend ₹2 per share. ## What just happened Shivalik Bimetal Controls Ltd announced its consolidated financial results for the fiscal year 2025-26. The company reported a consolidated revenue of ₹570.86 crore, a 12.3% increase year-on-year. Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 26.0% to ₹130.72 crore, leading to an expansion in the EBITDA margin by approximately 250 basis points to 22.9%. Profit After Tax (PAT) saw a significant jump of 24.8%, reaching ₹95.84 crore. ## Why this matters This performance highlights Shivalik Bimetal's successful strategic shift towards margin-led growth. The faster growth in EBITDA compared to revenue indicates improved operational efficiency, a better product mix, and cost management. The proposed final dividend of ₹2 per share, adding to the interim dividend of ₹2 declared earlier, signals confidence in future performance and a commitment to shareholder returns. ## The backstory The company's strategy for FY 2025-26 focused on enhancing profitability. On a standalone basis, revenue grew by 5.7% to ₹461.95 crore, with EBITDA at ₹112.37 crore and a margin of 24.32%. The company maintained a net-cash positive balance sheet with ₹105 crore in cash against ₹59 crore in debt as of March 31, 2026. ## What changes now Investors can expect a continued focus on high-value products and integrated assembly services. The company is scaling up its Pune facility, which is expected to drive future growth. The proposed dividend payout is subject to shareholder approval. ## Risks to watch Key risks include market softness in the Americas region, particularly in the electric vehicle (EV) sector, though management sees signs of normalization. Volatility in raw material prices (silver, nickel, copper) and rising working capital intensity (258 days) due to input stocking for the Pune facility are also points to monitor. ## Peer comparison While specific peer data is not provided in the filing, Shivalik Bimetal's focus on margin expansion and its ROCE of 25.7% indicate a potentially strong competitive position in its specialized segments. ## Context metrics (time-bound) Consolidated revenue: ₹570.86 crore (FY26) vs ₹508.35 crore (FY25), +12.3%. Consolidated EBITDA: ₹130.72 crore (FY26) vs ₹103.73 crore (FY25), +26.0%. Consolidated PAT: ₹95.84 crore (FY26) vs ₹77.06 crore (FY25), +24.8%. EBITDA Margin: 22.9% (FY26) vs ~20.4% (FY25). Proposed Final Dividend: ₹2 per share (FY26). ## What to track next Investors should closely watch the ramp-up of the Pune facility and the recovery in demand from the Americas region in FY27. Performance of the Shunt Resistors, Thermostatic Bimetals, and Electrical Contacts segments will also be crucial.
