India · Delayed Price · Currency is INR Shivalik Bimetal Controls Earnings Call Transcripts
Fiscal Year 2026
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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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Strong margin expansion and profit growth in H1 FY2026 were driven by a shift to high-value products and robust Asian demand, despite muted volumes and global trade headwinds. Management expects continued margin improvement and double-digit growth in FY2027, contingent on trade resolution.
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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 FY 2025 delivered strong margin and profit growth despite a slight annual revenue dip, with robust performance in shunt resistors and signs of recovery in bimetals. FY 2026 targets double-digit growth, driven by new products, automation, and favorable industry trends.
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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.