Shivalik Bimetal Controls (SBCL) had a P/E of 50.0× on 6 Nov 2026, above the industry P/E of 25.1×, and the shares are 18% below their 52-week high. Its ROCE of 25% is the highest among the 7 largest Metal Fabrication peers, and sales and net profit grew 6.7% and 6.6% a year over 3 years. Its dividend yield is 0.4%, and debt is 0.18× equity. It is a small-cap company with a market cap of ₹5,747 Cr, ranked 12th of 71 Metal Fabrication companies by market cap; the shares rose 114% over the past year.
- ₹990.00
- ₹1,006.00
- ₹927.30
- ₹998.10
- 4.7 L
Health check
- ReturnsAhead
+114.4% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 50.0 vs industry 25.1.
- GrowthSlow
Sales +6.7%, profit +6.6% a year over 3 years.
- ProfitabilityStrong
ROCE 25.3% vs peer median 15.6%.
- Balance sheetStretched
Debt 0.18× equity, interest covered 44.9×, Piotroski 3 of 9.
- Red flags1 to check
P/E of 50.0 against an industry P/E of 25.1.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹5,747 Cr
- Small cap
- P/E
- 50.0
- Industry 25.1
- Price to book
- 11.11
- Peers 7.00
- Dividend yield
- 0.40%
- ROE
- 23.7%
- Peers 8.6%
- ROCE
- 25.3%
- Peers 15.6%
- Debt to equity
- 0.18
- Debt ₹96 Cr
- EPS (TTM)
- ₹19.97
- Face value ₹2
- OPM (TTM)
- 26.2%
- Net margin 17.1%
- Sales growth
- +43.9%
- Latest quarter vs a year ago
- Profit growth
- +39.8%
- Latest quarter vs a year ago
- Price to sales
- 8.48
- EV/EBITDA 37.3
Strengths and risks
Strengths
- Return on equity of 23.7%.
- Return on capital employed of 25.3%.
- Quarterly profit up 39.8% on a year ago.
- Quarterly sales up 43.9% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 50.0 against an industry P/E of 25.1.
About Shivalik Bimetal Controls
Shivalik Bimetal Controls Limited operates as a process and product engineering company in India, the United States, Europe, and internationally. The company manufactures thermostatic bimetals, parts/strips, SMDS/shunt resistors, reflow solder/pre solder products, strips, precision stainless steel products, thermostatic bimetals, coils and springs, and snap action discs. Its products are primarily used in switchgears, circuit breakers, protective relays,…
- Headquarters
- New Delhi
- Employees
- 780
- Sector
- Industrials
- ISIN
- INE386D01027
- Website
- shivalikbimetals.com
Price range
- Avg volume (3M)
- 5.1 L
- 1-year return
- plus 114.4%
- From 52-week high
- minus 17.9%
Peers · Metal Fabrication
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BHARATFORGBharat Forge | 1,740.00 | minus 0.74% | 85,029 | 121.8 | 7.23 | 15.6% | 6.7% | 14.7% | 9.7% | 26.9% | 0.49% | plus 32.3% |
| INDOMIMINDO-MIM | 1,219.50 | minus 3.93% | 60,302 | 101.1 | 20.94 | 22.8% | 21.3% | 28.6% | 15.8% | 4.9% | 0.00% | plus 64.4% |
| PTCILPTC Industries | 24,335.00 | plus 0.04% | 38,564 | 290.6 | 23.73 | 7.9% | 8.6% | 24.6% | 40.7% | 57.8% | 0.00% | plus 41.4% |
| ZETWERKZetwerk Manufacturing Businesses | 164.89 | minus 1.10% | 27,937 | – | −2.47 | −13.0% | −36.0% | 0.1% | 56.9% | – | 0.00% | plus 19.3% |
| HAPPYFORGEHappy Forgings | 1,694.50 | minus 10.00% | 15,996 | 49.0 | 7.00 | 18.9% | 15.2% | 30.6% | 9.8% | 13.1% | 0.24% | plus 85.8% |
| RKFORGERamkrishna Forgings | 693.85 | minus 4.25% | 13,087 | 68.4 | 3.51 | 4.7% | 5.6% | 17.1% | 10.5% | −33.9% | 0.58% | plus 35.6% |
| GRAVITAGravita India | 1,493.90 | minus 0.07% | 10,883 | 27.3 | 4.11 | 18.1% | 16.2% | 9.3% | 14.9% | 23.5% | 0.52% | minus 15.4% |
| SBCLShivalik Bimetal Controls | 997.70 | minus 0.04% | 5,747 | 50.0 | 11.11 | 25.3% | 23.7% | 23.8% | 6.7% | 6.6% | 0.40% | plus 114.4% |
| Median of 7 peers | – | −1.10% | 27,937 | 84.7 | 7.00 | 15.6% | 8.6% | 17.1% | 14.9% | 18.3% | 0.24% | 35.6% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 137 | 134 | 163 | 182 | 198 | |
| 100 | 99.9 | 123 | 133 | 143 | |
| 36.9 | 34.4 | 39.4 | 49.1 | 54.3 | |
| 26.9% | 25.6% | 24.2% | 26.9% | 27.5% | |
| 0 | 0.9 | 0 | −0.3 | 0 | |
| 1.1 | 1.3 | 1.2 | 1.3 | 2.1 | |
| 3.4 | 3.5 | 3.7 | 4 | 5.4 | |
| – | −0.9 | – | 0.3 | – | |
| 32.4 | 29.5 | 34.6 | 43.8 | 46.8 | |
| 23.4% | 24.9% | 24.7% | 24.7% | 25.8% | |
| 24.9 | 22.2 | 26 | 33 | 34.8 | |
| 4.27 | 3.88 | 4.54 | 5.73 | 5.82 |
Profit & loss
- Sales CAGR 3Y
- +6.7%
- Profit CAGR 3Y
- +6.6%
- EPS CAGR 3Y
- +6.6%
- ROE
- 23.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 470 | 509 | 508 | 571 | |
| – | +8.2% | minus 0.1% | +12.3% | |
| 361 | 391 | 401 | 440 | |
| 109 | 118 | 107 | 131 | |
| 23.2% | 23.2% | 21.1% | 23.0% | |
| 2.9 | 10.4 | 9.2 | 13.6 | |
| 3.7 | 4.9 | 2.2 | 2.9 | |
| 10.5 | 12.1 | 11.8 | 13.8 | |
| 4.5 | 0.5 | 0.2 | −1 | |
| 102 | 112 | 103 | 127 | |
| 22.7% | 24.6% | 25.0% | 24.5% | |
| 79.1 | 84.3 | 77.1 | 95.9 | |
| – | +6.5% | minus 8.6% | +24.4% | |
| 13.73 | 13.34 | 13.34 | 16.64 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.5 | 11.5 | 11.5 | 11.5 | |
| 254 | 330 | 394 | 470 | |
| 58.7 | 42.5 | 42 | 71.1 | |
| 65.6 | 58.8 | 60.3 | 83.5 | |
| 390 | 443 | 508 | 636 | |
| 119 | 128 | 157 | 181 | |
| 8.9 | 15.1 | 23.7 | 37.9 | |
| 0.2 | 0.4 | 0.4 | 1.7 | |
| 18.1 | 47.2 | 75.1 | 97.4 | |
| 244 | 252 | 252 | 318 | |
| 390 | 443 | 508 | 636 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 65.8 | 68.5 | 93.6 | 54.9 | |
| −43.1 | −41.5 | −57.5 | −68.4 | |
| −18.5 | −29.2 | −26.3 | −0.4 | |
| 4.2 | −2.2 | 9.7 | −14 | |
| −32 | −21.8 | −31.3 | −35 | |
| 33.8 | 46.7 | 62.3 | 19.8 | |
| −4.7 | −8 | −12.6 | −20 |
Shareholding pattern
- Promoters33.61%
- Public66.39%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 33.61% | 66.39% | 0.00 | |
| 30 Jun 2026 | 33.61% | 66.39% | plus 0.24 | |
| 31 Mar 2026 | 33.37% | 66.63% | plus 0.20 | |
| 31 Dec 2025 | 33.17% | 66.83% | 0.00 | |
| 30 Sep 2025 | 33.17% | 66.83% | – |
Major shareholders
Filings & events
News
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