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Shivalik Bimetal Controls Ltd. Reports Resilient Revenue Growth (6.94%) for FY2024; Surging Q4 PAT (34.07%) and Strong FY24 Bimetal Growth in Europe (25.79%) and India (31.69%)

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NEW DELHI, May 30, 2024 /PRNewswire/ — At a meeting held on May 29th, the Board of Directors of Shivalik Bimetal Controls Ltd. released the financial results for Q4FY2024 and the full fiscal year 2024. As a global leader in thermostatic bimetal/trimetal strips, shunt resistors, and silver contacts, the Company continued to perform strongly despite the complexities of the global market environment.

Financial Performance Highlights:

Q4 FY 2024: PAT surged by 34.07% to ₹25.33 crore, with PAT margin up by 551 basis points to 22.66%, reflecting enhanced profitability and better operational efficiency.

FY 2024: Total Income rise & Final Dividend recommended:Total income rose by 6.94% to ₹449.40 crore, showcasing resilient revenue generation despite moderated North Atlantic demand.Recommended a final dividend of 50% (₹1.00 per equity share) for FY2024, in addition to the interim dividend of ₹0.70 per share already paid, aggregating ₹1.70 per share for the year.

FY2024: Thermostatic Bimetal/Trimetal & Shunt Resistor Sales:Asia (excluding India): Achieved a notable increase of 32.84% YoY in Shunt Resistor sales.India: Growth rose to 31.69% YoY in Thermostatic Bimetal/Trimetal sales, effectively offsetting the sluggish demand from the Americas.

(Rs. In crore) (Standalone Figures)

Key Figure

Q4FY2024

Q4FY2023

Change

FY2024

FY2023

Change

Total Income

111.77

110.13

1.49 %

449.40

420.23

6.94 %

Profit before tax

33.13

24.80

33.58 %

108.12

97.19

11.25 %

PBT as % of Sales

29.63 %

22.52 %

712 bps

24.06 %

23.13 %

93 bps

Profit after Tax

25.33

18.89

34.07 %

80.97

72.63

11.48 %

PAT Margin

22.66 %

17.15 %

551 bps

18.02 %

17.28 %

73 bps

SBCL Five-Year Growth Journey

These metrics demonstrate Shivalik Bimetal Controls Ltd.’s resilient business model and strategic market positioning, ensuring sustained growth and profitability over the last five years: 

(Rs. In crore) (Standalone Figures)

Particulars

2020

2021

2022

2023

2024

5yr CAGR

Revenue From Operation

187

204

324

420

449

24.48 %

Profit Before Tax (PBT)

16

33

70

97

108

61.19 %

Net Profit After Tax (PAT)

13

24

52

73

81

58.00 %

Over the past five years, the Company has exhibited robust financial growth, with revenue from operations rising from ₹187 crore in 2020 to ₹449 crore in 2024, reflecting a CAGR of 24.48%. This revenue growth is a testament to our effective sales strategies and strong market presence. The Company’s Profit Before Tax (PBT) has grown substantially, with a CAGR of 61.19%, increasing from ₹16 crore in 2020 to ₹108 crore in 2024. Profit After Tax (PAT) has grown at a robust CAGR of 58.00%, rising from ₹13 crore in 2020 to ₹81 crore in 2024. Furthermore, the Earnings Per Share (EPS) has increased at a CAGR of 43.98%, demonstrating the Company’s commitment to delivering substantial value to our shareholders. This five-year trend underscores the Company’s improved operational efficiency and strategic cost management, highlighting its robust bottom-line performance and effective revenue-to-profit conversion.

Zero Debt Company: Shivalik Bimetal Controls Ltd. is proud to maintain a debt-free status as of Q4FY24, both in its operational capacity and on its books, reflecting our strong financial management and strategic planning. This prudent approach to debt ensures we have the financial flexibility to invest in growth opportunities and navigate economic uncertainties effectively. Looking forward, the Company is well-positioned to capitalize on organic and inorganic growth opportunities as it enters the next financial year.

Stable Performance in Europe: Europe has maintained stable performance across both segments. Shunt sales in Q4 FY 23-24 increased by 23.37% compared to last year’s quarter, with an annual growth rate of 4.12%. Additionally, Thermostatic Bimetal/Trimetal sales in Europe grew by 25.79% for FY24, reflecting steady and reliable market presence and performance.

Consistent Growth in India for Thermostatic Bimetal/Trimetal Sales: India’s performance in the Thermostatic Bimetal/Trimetal segment has been remarkable, demonstrating robust growth and strong market penetration. In Q4 FY 23-24, sales surged to Rs. 35.14 crore, marking a significant 31.66% increase compared to Rs. 26.69 crore in Q4 FY 22-23. On an annual basis, the upward trajectory continues, with sales reaching Rs. 134.17 crore in FY 24, up 31.69% from Rs. 101.88 crore in FY 23. This consistent year-over-year growth underscores the Company’s expanding market presence and successful execution in capturing a larger market share. This robust performance underscores the significant opportunities within the Indian market, driven by increased demand for smart meters, switchgear, and electric vehicles, aligning well with the national push towards modernization and electrification.

Robust Shunt Sales Growth in Asia: Asia’s performance in both the Shunt and Thermostatic Bimetal/Trimetal segments reveals a dynamic and varied landscape. For Shunt sales, Asia (excluding India) experienced extraordinary growth in Q4 FY 23-24, with sales soaring to Rs. 13.47 crore from Rs. 2.90 crore in Q4 FY 22-23, representing an impressive 364.48% increase. Annually, sales rose to Rs. 39.59 crore in FY 24, up 32.84% from Rs. 29.81 crore in FY 23, indicating an expanding market presence. Conversely, the Thermostatic Bimetal/Trimetal segment faced challenges, with Q4 FY 23-24 sales declining to Rs. 2.61 crore from Rs. 11.61 crore in Q4 FY 22-23. This dichotomy highlights strong growth potential in the Shunt market, while the Company is actively addressing the challenges in the Thermostatic Bimetal/Trimetal sector by implementing strategic adjustments to enhance growth across all Asian markets.

Management Commentary:

Mr. S.S. Sandhu, Chairman, commented, “Over the past five years, we have built a solid foundation for growth and profitability, and I am confident that our strategic initiatives will continue to drive success in the years to come. Our focus on expanding domestic demand, coupled with the pursuit of global partnerships, particularly in the silver contacts segment, positions us favourably for future success. We expect robust growth in the domestic market to continue, and we are prepared to take advantage of the anticipated rebound in the USA. Strategically, we remain focused on expanding our product lines and leveraging our research and development capabilities to drive forward integration. Our financial strength ensures that we remain a debt-free company and are ready for any inorganic expansion should a strong opportunity present itself.”

CFO Mr. Rajeev Ranjan added, “Shivalik is well-positioned for long-term growth, underpinned by strong market tailwinds, a robust balance sheet, and solid financial performance. The Company also benefitted from a Production Linked Incentive (PLI) scheme, adding ~₹8 crore in cash and ~₹12 crore as other income for a significantly raised PAT. Our consistent earnings growth, highlighted by the 43.98% CAGR in EPS, demonstrates our commitment to delivering substantial shareholder value. Looking ahead, we anticipate steady growth recovery in the Atlantic region and continued robust demand from Asia. During FY2024, we formalized major contracts, foreshadowing a promising business pipeline. Additionally, the recent addition of a property provides sufficient headroom for our forward integration and expansion of assembly lines.”

About Shivalik Bimetal Controls Ltd. (SBCL)

Founded in 1984, and headquartered out of New Delhi, Shivalik Bimetal Controls Limited is a process and product engineering specialised business based in India. It manufactures and sells thermostatic bimetal/trimetal strips for switching components used in electrical, electronics, automotive, and industrial applications. The Company also makes shunt resistors for use in the high-growth automotive and industrial equipment segments. The rising demand for switchgear, battery management and smart metering systems also conveys solid long-term prospects for Shivalik’s product lines. With its unique business model based on proprietary bimetal technologies and niche solutions that OEMs demand, Shivalik thrives in an industry with high entry barriers. Today, as a valued vendor, the Company is making a mark in supplying high-quality bimetals and shunt resistors to the fast-emerging electric vehicles and customisable smart meters of the future,

Shivalik’s highly experienced management has led the Company to prominent ownership in technology and applications. Its solid balance sheet, combined with prudent capital management, drives Shivalik’s robust growth potential. With plants in Chambhaghat and Kather, Solan, operated by a team of 808 vastly skilled people, Shivalik serves more than 125 clients globally.

 

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Bridge Group Investments Rebrands as Mershops

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The Mersho family announces the launch of Mershops, a real estate platform redefining how America experiences retail, hospitality, and workplace destinations.

SAN JOSE, Calif., May 19, 2025 /PRNewswire/ — The Mersho family, founders of the nationally recognized Shoe Palace retail brand, announced today the rebranding of Bridge Group Investments to Mershops, a real estate platform focused on transforming underperforming assets into future-facing, culturally relevant destinations.

More than a name change, the launch of Mershops marks a generational evolution in the way real estate is imagined, executed, and experienced. Backed by permanent family capital and in strategic partnership with Steerpoint Capital, Mershops is actively repositioning a portfolio of malls, offices, and hospitality properties, beginning with five flagship assets across California and Nevada. The first two properties to undergo full-scale transformations are Mershops North County in Escondido, Calif., and the Galleria at Sunset in Henderson, Nev.

“Mershops is redefining what malls and destination properties can be,” said George Mersho, CEO of Mershops. “Our approach combines consistency, hospitality, and thoughtful design, laying the foundation for a diversified real estate platform spanning retail, office, and hospitality developments.”

“We’re building community-driven spaces that blend commerce with experience,” added Ralph Mersho, CFO of Mershops. “These thoughtfully designed environments encourage people to connect, linger, and return — reshaping how they engage with retail, work, and leisure.”

“Mershops is more than real estate — it’s a movement,” said Tony Mersho, Managing Partner. “We’re creating places where commerce, culture, and community collide. We lead with design, vision, and operational discipline — because people deserve better experiences, and properties deserve better futures.”

“We are setting a new benchmark for how malls should function in today’s world,” said John Mersho, Managing Partner. “This is about legacy. We’re not flipping assets — we’re rebuilding institutions. Our family-built brands people trust. Now, we’re building places they belong.”

At Mershops North County, a bold transformation is underway — turning the property into a next-generation retail and community hub. Enhancements include eye-catching signage, contemporary interior finishes, interactive digital directories, and revitalized branding that reflects a new era of vibrancy and engagement. These improvements are designed to not only modernize the space, but to create a destination that draws in both national retailers and the local community with equal strength.

The momentum is already visible with a curated lineup of new tenants: Round 1, bringing entertainment and nightlife energy; Panini Kabob Grill, adding fresh, chef-driven dining; Kids Empire, energizing the family and youth experience; and the Escondido Public Library, anchoring the project with cultural and civic value. These additions underscore Mershops North County’s rising influence as a magnet for diverse foot traffic and long-term tenant growth.

Similar property-wide upgrades are in motion at Antelope Valley Mall (Palmdale, Calif.), The Shops at Montebello (Montebello, Calif.), and Northridge Mall (Salinas, Calif.) — each receiving tailored reinvestments to enhance shopper experience, community relevance, and tenant success. The transformation also extends to two high-profile office campuses in Silicon Valley, reinforcing Mershops’ commitment to redefining environments in which people live, work, and connect.

“This rebranding is foundational to our vision of repositioning these properties as long-term value creators,” said Bo Okoroji, Founder & CEO of Steerpoint Capital. “We’re investing in malls that anchor their communities while generating robust, stable returns.”

About Mershops
Mershops is a visionary real estate platform founded by the Mersho family to acquire, elevate, and reimagine destination properties across the United States. Built on a legacy of retail innovation and rooted in hospitality, Mershops brings bold design, operational precision, and a customer-first mindset to every asset. With a long-term view and permanent family capital, Mershops is reshaping how people shop, work, and gather — creating spaces that inspire connection, deliver performance, and stand the test of time.

About Steerpoint Capital
Steerpoint Capital is a commercial real estate investment and advisory firm focused on value-add and opportunistic strategies across retail and mixed-use assets. With deep experience in repositioning malls and structuring creative investment partnerships, Steerpoint is active across the Western U.S. and Sunbelt states. For more information, visit SteerpointCapital.com.

Media Contact
Joey Good
Grapevine Strategies

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SOURCE Steerpoint Capital

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ANNOUNCING THE RETURN OF EBONY POWER 100: WHERE LEGACY MEETS TOMORROW’S LEADERS

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Submissions are now open till June 13th; nominate the changemakers shaping Black Culture in 2025

LOS ANGELES, May 19, 2025 /PRNewswire/ — Black excellence has a home, and for eight decades, that home has been EBONY. Today, as the iconic and beloved Black-owned media company prepares to celebrate 80 years of championing and elevating the Black identity through powerful storytelling, around the globe, we are now proud to announce that nominations are open for the 2025 EBONY Power 100 List.

The EBONY Power 100 captures lightning in a bottle—the dynamic forces who aren’t just participating in culture, but transforming it. As part of our enduring mission to amplify and celebrate Black voices, we recognize the visionaries who turn obstacles into opportunities, the innovators whose dreams become our daily reality, and the voices that resonate from boardrooms to recording studios, research labs to movie sets. From activists to actors, innovative scientists to business leaders, these are individuals who not only break barriers, but are redefining what’s possible for future generations, while embodying the spirit creative expression that has defined EBONY for decades.

Past honorees include Cynthia Erivo, USHER, former Vice President Kamala Harris, Deion Sanders, Gayle King, and Pat McGrath.

Submissions are now open for the 2025 EBONY Power 100 list. The full list of 2025 EBONY Power 100 categories include:

Artists in ResidenceBusiness DisruptersCommunity CrusadersEntertainment PowerhousesGeneration NextInfluential CreatorsLeaders in SportsMedia MavensMusic InnovatorsStem Trailblazers

To learn more about EBONY Power 100 and to nominate visit:
https://www.ebony.com/ebony-power-100-nomination-form.

All nominations must be submitted by June 13, 2025. Final honorees will be celebrated at the highly anticipated EBONY Power 100 ceremony in Los Angeles November 2025.

For inquiries about the EBONY Power 100 contact:

For EBONY Power 100 list inquires – EP100@ebony.comFor sales and brand partnerships – Duryea Ruffins, druffins@ebony.comFor PR & marketing – Deon Harris, dharris@ebony.com

About EBONY
For nearly 80 years, EBONY has served as the leading voice of the Black American experience and is the most influential Black-owned media company in the world. Under new ownership and leadership, EBONY has grown into a multi-media entity, covering cultural news, entertainment, and lifestyle with a commitment to Move Black Forward with EBONY, EBONY Studios, and JET. EBONY continues to be the leading authority and anchor for all facets of Black culture, illuminating the Black perspective and serving as the ultimate curator for the past, present, and future of the Black and African American experience.

EBONY Media Group is a division of 1145 Holdings, LLC.

Media Contact:
Allison
ebony@allisonworldwide.com

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SOURCE EBONY Media Group

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RealTruck Introduces “Builder,” First-of-its-Kind 3D Visualization Tool in the Aftermarket Accessory Retailer Market

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RealTruck Builder Allows Consumers to Easily Visualize their Dream Truck in a Seamless Build-to-Purchase Interactive Design Platform

ANN ARBOR, Mich., May 19, 2025 /PRNewswire/ — For years, truck enthusiasts have dreamed of a day when they could fully customize their build and see it come to life in true-to-scale 3D. RealTruck, a global aftermarket product and accessory brand and a digital destination for truck, Jeep®, Bronco® and off-road enthusiasts, has made it a reality with RealTruck Builder, the industry’s innovative and interactive 3D visualization tool that is available to all consumers visiting the site. The new digital design tool is a game-changer within the aftermarket accessory retailer market, and gives enthusiasts the opportunity to easily visualize their dream vehicle and directly explore and shop countless accessory combinations guaranteed to fit their vehicle.

With RealTruck Builder, shoppers can customize by choosing a specific vehicle model by year and make, including bed and cab configuration and OEM paint colors so they can see what accessories would look like on their vehicle before they decide to purchase. They also have the ability to mix and match products across categories including bed covers, steps, protection, bumpers, racks and more. Users can also view completed builds in life-sized 3D augmented reality, letting them see how gear and accessories fit and feel in real-world settings – from their driveway to their garage to their showroom – making it intuitive to see their dream vehicles as they build to buy.

“Built to explore and designed to bring your truck to life, RealTruck Builder makes every step—from browsing to buying—fun, intuitive, easy, and full of discovery,” said Tony Ambroza, Chief Growth Officer at RealTruck. “The online shopping experience has evolved and consumers now expect to virtually ‘experience’ what they are buying. RealTruck Builder was the natural progression to provide an experience for people to see how our products fit their specific vehicle and offer a seamless transition from design to purchase.”

RealTruck Builder delivers a fast, web-based, and fully transactional experience that lets customers explore and buy with confidence, loading thousands of products and vehicles in under a second. As part of the tool’s features, users can save and share their custom rigs via a link, making it easy to get feedback, return later, or pass along to a friend or dealer.

The easy-to-use tool is free to consumers, mobile friendly, and fully accessible via any device including phones, tablets and desktops. Consumers can explore millions of possible configurations, with new vehicles and accessories added daily including products proudly assembled in the USA.

To learn more about RealTruck Builder and to start building today, visit RealTruck.com.

About RealTruck
RealTruck is the world’s premier accessory manufacturer for truck, Jeep®, Bronco® and off-road enthusiasts. Globally headquartered in Ann Arbor, Michigan, RealTruck’s 5,000 associates operate from 78 facilities across four continents. RealTruck’s industry leading product portfolio, which includes the Husky Liners total vehicle protection brand, boasts over 850 patents and pending applications. The company’s omnichannel retail approach delivers a seamless consumer experience online at RealTruck.com, as well as through its 12,000+ dealer network and automotive (OEM) partnerships. For more information, visit www.realtruck.com.

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SOURCE RealTruck

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