India · Delayed Price · Currency is INR Shivalik Bimetal Controls Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 delivered 12.3% revenue and 26% EBITDA growth, with margin expansion and strong gains in smart metering and contacts. U.S. and busbar segments are set for robust growth, while capacity and capital are well positioned for future expansion.
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Revenue grew 9% year-over-year with EBITDA margin above 24%, driven by improved product mix and higher value-added exports. Forward integration into busbars and PCB assemblies is set to add significant revenue, while U.S. business is expected to recover as tariffs ease.
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H1 FY2026 delivered strong profit growth and margin expansion despite flat volumes, with robust gains in India and Asia offsetting export softness. Management expects double-digit growth in FY2027, driven by new product launches, automation, and local sourcing initiatives.
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EBITDA grew 32.5% YoY with margin expansion to 25.26%, driven by cost discipline and strong shunt resistor growth, especially in India and Asia. Double-digit revenue growth is guided for FY26, with smart meter and forward integration initiatives set to accelerate, despite U.S. tariff risks.
Fiscal Year 2025
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Q4 saw strong margin expansion and profit growth despite a slight annual revenue decline. Management guides for 15%-18% revenue growth in FY 2026, driven by shunt, bimetal, and smart meter segments, with forward integration and automation expected to boost margins and future growth.
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Revenue remained flat year-over-year, but margins improved due to value-added products and cost control. Forward and backward integration, new contracts, and strong Indian demand are expected to drive 20%-25% growth over the next two years.