Shivalik Bimetal Controls hit an upper circuit of 5% at Rs 305.95 after the company's consolidated net profit surged 156.63% to Rs 13.55 crore on 54.59% increase in net sales to Rs 76.23 crore in Q2 September 2021 over Q2 September 2020.
On a consolidated basis, profit before tax (PBT) surged 154.88% year-on-year to Rs 18.02 crore in Q2 September 2021.During the quarter, total expenses rose 38.24% YoY to Rs 60.26 crore. Employee expense jumped 32.26% YoY to Rs 6.97 crore. Raw material cost climbed 37.94% YoY to Rs 41.23 crore.
On a standalone basis, net profit surged 155.07% to Rs 12.83 crore on 54.56% increase in net sales to Rs 76.23 crore in Q2 September 2021 over Q2 September 2020.
EBIDTA surged 123.06% year-on-year to Rs 18.96 crore in Q2 September 2021. EBIDTA margin stood at 24.48% in Q2 September 2021, higher than 16.91% in Q2 September 2020.
The company said that construction of Unit IV factory building has been completed. Erection of equipment's is in progress and will be ready for trials runs by end of calendar year 2021.
The order book status remains positive due to China+1 phenomenon. At least 3 large BMS automotive projects are attaining maturity and coming into bulk production stage in Q1 2022. 3-4 more such projects are expected to reach this stage in next financial year, the company said.
Shivalik Bimetal Controls is specialized in the joining of material through various methods such as diffusion bonding/cladding, electron beam welding, solder reflow and resistance welding. The company offers precision manufactured components specific to the application requirements.
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