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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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YesWelder’s Firstess DP200: Redefining Welding for Everyone

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — YesWelder has solidified its reputation as a leader in the welding industry with the introduction of its latest innovation—the Firstess DP200. This multi-process welding machine is designed to be accessible for both seasoned professionals and complete beginners, significantly lowering the barriers to entry for welding. Thanks to its intuitive design and user-friendly features, even those with no prior experience can get started with ease. These innovations have earned the DP200 widespread acclaim, with its success echoed in an outstanding crowdfunding campaign that shattered expectations.

Introducing the YesWelder Firstess DP200

The Firstess DP200 equipped with cutting-edge features like the YesWelder PulseFlex™ System and AdaptivePulse™ technology, with its 200A power output and dual voltage capability (120V/240V), the DP200 is adaptable to any environment, from home garages to professional workshops. The 7-inch screen provides optimal visibility, featuring adjustable brightness and multi-angle viewing for easy operation even in low-light conditions. These features, combined with its IntuiWeld™ UI, make the DP200 intuitive and user-friendly, whether you’re a beginner or an experienced welder.

Crowdfunding Success

The launch of the Firstess DP200 on Kickstarter has been a resounding success. From the moment it went live, the welding community rallied behind the campaign, drawn in by the machine’s powerful capabilities and competitive pricing. In just five hours, the DP200 crossed the $1 million mark in sales—a remarkable achievement that underscored the demand for high-quality, affordable welding equipment. The overwhelming response from backers demonstrates the growing excitement around the DP200 and its potential to transform the welding experience for a wider audience. As of today, the campaign has raised over $2.4 million.

YouTube Creators Amplify the Buzz

From seasoned welders to hobbyists, Many of these creators have shared in-depth reviews, tutorials, and demonstrations of the DP200, highlighting its impressive features and capabilities.YouTubers have praised the Firstess DP200 for its ease of use, versatility, and precision. The PulseFlex™ and AdaptivePulse™ technologies have been singled out for their ability to provide fine-tuned control, making even complex welding tasks more manageable. The intuitive interface and large display have also been widely appreciated, with creators noting how these features make the machine accessible to welders of all skill levels.

 

These reviews have not only showcased the DP200’s performance but have also played a crucial role in building trust and excitement around the product. For potential buyers, seeing real-world feedback from trusted influencers has reinforced the machine’s value and capabilities.

Community-Driven Development

The Firstess DP200 is more than just a welding machine—it’s a testament to YesWelder’s commitment to its community. From initial concept to final testing, the development of the DP200 was guided by real-world feedback from welders. This collaborative approach ensured that the machine addresses the actual needs of users. Many of its thoughtful, user-friendly features—such as software upgradability, the ability to store up to 50 custom parameter sets with detailed notes (MIG/MAG), and comprehensive accessory options—are direct responses to suggestions from the welding community.

This focus on user input ensures that the DP200 not only meets expectations but exceeds them, offering a solution that feels tailor-made for welders. YesWelder’s dedication to blending innovation with affordability sets it apart, making the DP200 a true game-changer for anyone looking for a versatile and reliable welding solution.
 The DP200 goes beyond being just a tool—it’s part of YesWelder’s vision to open up the world of welding to more people, making the craft accessible and enjoyable for everyone.

At YesWelder, we believe welding is more than a skill—it’s a way to create, to build, and to connect. By breaking down barriers, we’re inviting more people to experience the joy and satisfaction that welding brings. Whether you’re just getting started or ready to level up, the Firstess DP200 is here to help you take that next step. Ready to make your mark? Stay Cool, Weld Hot.

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Yardi Aspire LMS Introduces Self-Service Course Catalog to Enhance Client Experience

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New feature allows Aspire administrators to review and select Yardi-authored training courses directly to their university

SANTA BARBARA, Calif., Sept. 20, 2024 /PRNewswire/ — Yardi® Aspire is thrilled to introduce its self-service course catalog, a new feature that allows Aspire Plus and Aspire Premium clients to manage Yardi-authored training courses directly within their company university.

 

 

Now clients can review, search and manage, instantly copying courses from within their university. Allowing clients on-demand access to the catalog of courses streamlines the process of acquiring the content they need.

“The self-service catalog empowers our clients by removing the need to take time to create cases for content requests,” said Patty Evans, industry principal for Yardi Aspire. “They now have direct access to manage and add the training they need, when they need it, without added steps.”

Key benefits of the new self-service course catalog:

Enhanced catalog visibility: Clients can browse the full Aspire course catalog, accessing detailed descriptions, learning objectives and course durationsImmediate access to new courses: New and recently updated courses are instantly available, helping clients keep training programs currentAdvanced search filters: With options to search by roles, skills, keywords, tags and duration, clients can easily identify training content that addresses specific business needs or skill gapsEffortless Yardi software training integration: Aspire makes it simple to incorporate Yardi software training with new implementationsFull control over course status: Clients can customize course privacy settings during the copy process, ensuring the content is visible to the appropriate roles within their team

“We are always focused on evolving our platform to make life easier for our clients. This new feature puts them in control, making it faster and simpler to customize their training offerings,” Evans said.

With this self-service functionality, Aspire enables clients to gain instant access to vital training resources as they become available and as client needs arise. Contact us today to schedule a demo and explore the self-service catalog.

About Yardi

Celebrating its 40-year anniversary in 2024, Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With 9,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

Photo: https://mma.prnewswire.com/media/2510438/Yardi_Aspire.jpg
Logo: https://mma.prnewswire.com/media/737275/Yardi_Logo.jpg

 

 

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SOURCE Yardi

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Asymbl, Inc. Announces Inclusion in Salesforce’s Agentforce Partner Network with Asymbl Recruiter Agent

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Customers can automate and stream staffing and recruitment workflows through Asymbl Recruiter Agent for Agentforce 

AUSTIN, Texas, Sept. 20, 2024 /PRNewswire/ — Asymbl, Inc. today announced they have joined Salesforce’s Agentforce Partner Network , a global ecosystem of partners building new third-party agents and agent actions for Agentforce accessible through the Salesforce AppExchange. With Asymbl’s Recruiter Agent, customers can leverage intelligence and automation to streamline the recruiter workflow for greater success, accelerating candidate identification, creating job descriptions effortlessly, scheduling interviews seamlessly, summarizing interview feedback, and optimizing speed to placement. By automating these time-consuming tasks, recruiters can focus on what they do best—building meaningful interactions with candidates and hiring managers, rather than being bogged down by administrative work.

Agentforce is a suite of autonomous AI agents designed to support humans by automating tasks across various industries, enhancing efficiency, and scaling operations. The Agentforce Partner Network enables Agentforce to plan, reason and perform tasks by integrating with a broad range of technology and data providers, enabling them to execute complex actions on behalf of users.

Asymbl’s agent action for Agentforce can be integrated into the customer’s existing Salesforce agents in Agent Builder or discovered on Salesforce AppExchange, the leading enterprise cloud marketplace.

With the announcement of the Agentforce Partner Network, businesses have access to more than 20 agents and agent actions, leveraging partners’ purpose-built technology and domain expertise. Partner-built agents enable faster deployment of pre-built solutions, reducing both development time and costs, while extending the value of the tools businesses already rely on.

Customers can expedite time to placement and optimize the recruiter workflow through Asymbl Recruiter Agent’s agent actions. Key features include:

Intelligent Candidate Identification: Powered by Agentforce and Salesforce Data Cloud, Asymbl Recruiter Agent leverages results from partner applications for traditional resume matching and goes further by analyzing interactional data from an extensive range of data points and past interactions with candidates and hiring managers to rapidly identify the best-fit candidates.

Effortless Job Description Creation: Quickly generate, refine, and share job descriptions based on existing data and hiring manager preferences, saving valuable time that would otherwise be spent drafting descriptions manually.

Autonomous Interview Scheduling: Schedule interviews with candidates seamlessly with real-time availability, minimizing the usual back-and-forth involved in coordinating schedules.

Comprehensive Interview Feedback Summaries: Generate detailed summaries from the interviewer’s feedback in seconds, enabling recruiters to make faster and more informed hiring decisions.

With these capabilities, Asymbl Recruiter Agent’s agent actions accelerate the entire recruiter workflow, making it more efficient and effective for staffing firms and corporate recruiters looking to optimize their workflows and achieve faster placements.

“I’ve been part of the Salesforce ecosystem for 20 years and have worked in the talent management, staffing, and recruitment industries for just about as long. I’ve never experienced a more exciting moment for growth, innovation, and immediate impact,” said Brandon Metcalf, CEO and Founder of Asymbl, Inc. “The energy around AI today, coupled with the groundbreaking advancements and impact we’re achieving through our collaboration with Salesforce, is driving immediate and transformative change in staffing and recruiting. With Agentforce, we are moving into the third wave of AI where intelligent agents are not just a concept—they are here, and they are reshaping how we work and succeed.”

“By partnering with Asymbl, we gain the flexibility to adapt and lead in a competitive market, ensuring our strategies are both innovative and future-proof,” said Rob Lowry, Chief Delivery Officer at Apex Systems. “The collaboration between Asymbl and Salesforce has been important to Apex. Asymbl being an initial partner in the Agentforce Partner Network highlights their commitment to pushing the boundaries of recruitment technology. We’re excited about the Asymbl Recruiter Agent and its potential to simplify recruitment, accelerate hiring decisions, and enhance our ability to deliver value to clients.”

“Salesforce’s leading partner ecosystem is at the forefront of the AI enterprise, where humans and AI come together through autonomous Agents and Agent Actions,” said Brian Landsman, EVP, Global Technology Partners, Salesforce. “These latest innovations boost scale, efficiency, and satisfaction across a variety of use cases, while enabling Agents to execute complex tasks across an organization’s technology stack. We look forward to seeing our customers take full advantage of these and experience better business outcomes.”

Asymbl Recruiter Agent is available to be previewed here.    

Additional Resources

Follow Asymbl, Inc. on LinkedInFollow Salesforce on LinkedIn and XCheck out the AppExchange Agentforce CollectionLearn more about Salesforce unveiling of Agentforce

Salesforce, Salesforce Agentforce Partner Network, Agentforce, Salesforce Data Cloud and others are among the trademarks of Salesforce, inc.

About Asymbl, Inc.

Asymbl, Inc. is an innovative technology company within the Salesforce ecosystem, driving transformative growth through its two core brands. Asymbldelivers cutting-edge staffing and talent management software to optimize recruitment workflows, while Blueprint Advisory provides strategic advisory, consulting, and managed services to help organizations navigate digital transformation and maximize their Salesforce investments.

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SOURCE Asymbl, Inc.

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