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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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.