Capitaline

Results 01-Jun-22

Analysis

Shivalik Bimetal Controls

Strong allround show

Consolidated net sales (including other operating income) of Shivalik Bimetal Controls for the quarter ended Mar 2022 has increased 33.59% to Rs 89.32 crore. Operating profit margin has jumped from 18.94% to 21.53%, leading to 51.90% rise in operating profit to Rs 19.23 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 51.81% to 50.39%. Employee cost decreased from 11.11% to 8.00%. Other expenses rose from 19.54% to 20.30%. Other income rose 31.90% to Rs 1.53 crore. PBIDT rose 50.22% to Rs 20.76 crore. Provision for interest rose 144.90% to Rs 1.2 crore. PBDT rose 46.74% to Rs 19.56 crore. Provision for depreciation rose 19.23% to Rs 1.86 crore. Profit before tax grew 50.38% to Rs 17.70 crore. Share of profit/loss was 53.57% higher at Rs 1.29 crore. Provision for tax was expense of Rs 4.53 crore, compared to Rs 3.28 crore. Effective tax rate was 23.85% compared to 26.01%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 54.98% to Rs 14.46 crore.
Full year results analysis.

Net sales (including other operating income) of Shivalik Bimetal Controls has increased 59.04% to Rs 323.99 crore. Operating profit margin has jumped from 17.74% to 22.68%, leading to 103.32% rise in operating profit to Rs 73.48 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 52.43% to 51.36%. Employee cost decreased from 10.32% to 8.09%. Other expenses fell from 20.47% to 18.61%. Other income rose 34.57% to Rs 5.45 crore. PBIDT rose 96.39% to Rs 78.93 crore. Provision for interest rose 69.33% to Rs 2.76 crore. PBDT rose 97.54% to Rs 76.17 crore. Provision for depreciation rose 8.14% to Rs 6.38 crore. Profit before tax grew 113.69% to Rs 69.79 crore. Share of profit/loss was 110.18% higher at Rs 3.51 crore. Provision for tax was expense of Rs 18.19 crore, compared to Rs 8.84 crore. Effective tax rate was 24.82% compared to 25.75%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 116.20% to Rs 55.11 crore.

Other developments

Equity capital stood at Rs 7.68 crore as of 31 March 2022 to Rs 7.68 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00.

Promoters’ stake was 60.61% as of 31 March 2022 ,compared to 60.61% as of 31 March 2021 .

Loan funds rose to Rs 57.74 crore as of 31 March 2022 from Rs 28.84 crore as of 31 March 2021. Inventories rose to Rs 114.88 crore as of 31 March 2022 from Rs 70.14 crore as of 31 March 2021. Sundry debtors were higher at Rs 59.28 crore as of 31 March 2022 compared to Rs 42.82 crore as of 31 March 2021. Cash and bank balance declined from Rs 15.93 crore as of 31 March 2021 to Rs 11.82 crore as of 31 March 2022. Investments rose to Rs 16.54 crore as of 31 March 2022 from Rs 13.01 crore as of 31 March 2021. Fixed assets increased to Rs 85.35 crore as of 31 March 2022 from Rs 69.67 crore as of 31 March 2021. Intangible assets increased from Rs 0.76 crore to Rs 1.16 crore.

Shivalik Bimetal Controls : Consolidated Results

	Quarter ended			Year ended
Particulars	202203	202103	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	89.32	66.86	33.59	323.99	203.72	59.04
OPM (%)	21.53	18.94	259 bps	22.68	17.74	494 bps
OP	19.23	12.66	51.90	73.48	36.14	103.32
Other Inc.	1.53	1.16	31.90	5.45	4.05	34.57
PBIDT	20.76	13.82	50.22	78.93	40.19	96.39
Interest	1.20	0.49	144.90	2.76	1.63	69.33
PBDT	19.56	13.33	46.74	76.17	38.56	97.54
Depreciation	1.86	1.56	19.23	6.38	5.9	8.14
PBT	17.70	11.77	50.38	69.79	32.66	113.69
Share of Profit/(Loss) from Associates	1.29	0.84	53.57	3.51	1.67	110.18
PBT before EO	18.99	12.61	50.59	73.3	34.33	113.52
EO Income	0	0	-	0	0	-
PBT after EO	18.99	12.61	50.59	73.3	34.33	113.52
Taxation	4.53	3.28	38.11	18.19	8.84	105.77
PAT	14.46	9.33	54.98	55.11	25.49	116.20
Minority Interest (MI)	0	0	-	0	0	-
Net profit	14.46	9.33	54.98	55.11	25.49	116.20
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	14.46	9.33	54.98	55.11	25.49	116.20
EPS (Rs)*	3.77	2.43	54.98	14.35	6.64	116.20

* EPS is on current equity of Rs 7.68 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Shivalik Bimetal Controls fixes record date for interim dividend
( Market Beat - Reports 05-Feb-20 16:38 )

Shivalik Bimetal Controls AGM scheduled
( Corporate News - 02-Sep-20 15:29 )

Shivalik Bimetal Controls to declare Quarterly Result
( Corporate News - 04-Nov-20 11:28 )

Shivalik Bimetal Controls to discuss results
( Corporate News - 30-Oct-18 09:54 )

Shivalik Bimetal Controls to table results
( Corporate News - 25-May-22 09:52 )

Shivalik Bimetal Controls announces board meeting date
( Corporate News - 05-Nov-19 12:56 )

Shivalik Bimetal Controls
( Results - Analysis 10-Feb-18 11:18 )

Shivalik Bimetal Controls reports net loss of Rs 0.14 crore in the September 2013 quarter
( Results - Announcements 23-Nov-13 11:13 )

Shivalik Bimetal Controls signs agreements to acquire stake in JVs
( Corporate News - 12-Apr-22 20:35 )

Shivalik Bimetal Controls to hold board meeting
( Corporate News - 27-Apr-15 16:01 )

Shivalik Bimetal Controls to discuss results
( Corporate News - 05-Aug-19 10:01 )