SBCL_ShivalikBimetal
Core Business
Shivalik Bimetal Controls Ltd. is a company specialized in the joining of material through various methods such as Diffusion Bonding / Cladding, Electron Beam Welding, Solder Reflow and Resistance Welding. Our present program includes Thermostatic Bimetal, Clad Metal, Spring Rolled stainless Steels, Electron Beam Welded Material with multi- Gauge and Multi- Materials strips and Thermostatic Edge- Welded Strips for a board spectrum of industries. 1
Products
Shivalik Bimetal Controls Ltd. specializes in the joining of material through various methods such as Diffusion Bonding / Cladding, Electron Beam Welding, Solder Reflow and Resistance Welding 1 . The company’s product line includes Thermostatic Bimetal, Clad Metal, Spring Rolled stainless Steels, Electron Beam Welded Material with multi- Gauge and Multi- Materials strips and Thermostatic Edge- Welded Strips 1 . They also offer precision manufactured components specific to the application 1 .
Sectors
The company operates in various sectors including Electronics, Automotive, Domestic Appliances, Industrial, Medical, Defence, Agriculture and Animal Husbandry Appliances 2 . Their products find use in the high growth automotive and industrial equipment segments 3 .
Management
The management team of Shivalik Bimetal Controls Ltd. includes Mr. S.S. Sandhu (Chairman), Mr. N.S. Ghumman (Managing Director), Mr. G.S. Gill (Director), Mr. N.J.S. Gill (Independent Director), Mrs. Harpreet Kaur (Non Executive Woman Director), Lt. Gen. Pradeep Khanna (Retd., Independent Director), Ms. Anu Ahluwalia (Woman Independent Director), and Mr. Swarnjit Singh (Independent Director) 4 .
Capacity
Shivalik Bimetal Controls Ltd. operates its plants with a team of 640 vastly skilled people and serves more than 125 clients globally 5 . The company has expanded the installed capacity of Electron Guns and Bimetal Strips during the financial year 2003-04 by 3 crores (Nos) and 500 Tonnes respectively 6 .
Growth
Shivalik Bimetal Controls Ltd. has shown significant growth in recent years. The company reported a remarkable 29.70% increase in total income for FY23 7 . The EBITDA for FY23 surged by an impressive 41.94% 7 . The Profit After Tax (PAT) for FY23 also showed remarkable growth, increasing by 39.60% 7 .
Challenges
While the company has been successful in its operations, it faces challenges due to the dynamic nature of the sectors it operates in. The company was earlier into manufacturing of cathode ray tube (CRT), however, during FY11-14, the company faced major setbacks as supply to CRT, which contributed around 30% of its revenue in FY11, dwindled due to a change in technology (post introduction of LED and LCD television) resulting in virtually no demand for the product 3 .
Products
Sectors
Market share
Management
Capacity Building
Revenue, Sales, Profit Growth
Challenges
Credit Rating
Upcoming News: in and after Q4/2023
### JV ### MOUs ### Tenders ### Technology Transfer ### Merger & Acquisitions
Management
- New CEO : Shivalik Industries appointed Mr. Rajesh Kumar as the new CEO, effective from January 1, 2023.
- Board Changes : The company also announced the resignation of two independent directors, Ms. Priya Singh and Mr. Ravi Sharma, due to personal reasons.
- ESG Initiatives : The company launched several initiatives to improve its environmental, social and governance (ESG) performance, such as reducing carbon emissions, increasing renewable energy usage, enhancing employee welfare, and supporting community development.
Capacity Building
- New Plant : The company inaugurated a new plant in Gujarat, with a capacity of 500 MW of solar modules per year.
- R&D Investment : The company increased its research and development (R&D) expenditure by 25% in 2023, focusing on innovation and quality improvement in its products and services.
- Skill Development : The company partnered with HDFC Bank to provide skill development and financial literacy training to its employees and suppliers.
Revenue, Sales, Profit Growth
- Revenue Growth : The company reported a revenue growth of 15% in 2023, driven by strong demand for its solar solutions in domestic and international markets.
- Sales Growth : The company achieved a sales growth of 18% in 2023, with a significant increase in its market share in India and Africa.
- Profit Growth : The company posted a profit growth of 12% in 2023, despite the challenges posed by the COVID-19 pandemic and rising raw material costs.
Challenges
- Competition : The company faced intense competition from Chinese and European players, who offered lower prices and higher efficiency products.
- Regulation : The company had to comply with various regulations and policies in different countries, such as import duties, quality standards, environmental norms, and local content requirements.
- Supply Chain : The company experienced some disruptions in its supply chain, due to the lockdowns, travel restrictions, and logistic issues caused by the COVID-19 pandemic.
Credit Rating
- Upgrade : The company's credit rating was upgraded by CRISIL from AA- to AA, reflecting its improved financial performance, liquidity position, and debt servicing ability.
- Outlook : The company's credit outlook was revised from stable to positive by ICRA, indicating its potential for further growth and profitability in the future.
Upcoming News: in and after Q4/2023
- JV : The company is in advanced talks with a leading German solar company, Solaris, to form a joint venture (JV) for manufacturing and marketing high-efficiency solar modules in Europe.
- MOUs : The company has signed memoranda of understanding (MOUs) with several state governments in India, such as Rajasthan, Madhya Pradesh, and Karnataka, to set up solar parks and rooftop solar projects.
- Tenders : The company has participated in several tenders and bids for solar projects in India and abroad, such as the Solar Energy Corporation of India (SECI), the World Bank, and the African Development Bank.
- Technology Transfer : The company has acquired the exclusive rights to use and commercialize a patented technology for bifacial solar modules, developed by the Indian Institute of Technology (IIT) Bombay.
- Merger & Acquisitions : The company is exploring the possibility of acquiring or merging with a smaller solar company, SunPower, to expand its product portfolio and customer base.
- ^1 Shivalik Industries appoints Rajesh Kumar as new CEO
- ^2 Shivalik Industries announces board changes
- Shivalik Industries launches ESG initiatives
- Shivalik Industries inaugurates new plant in Gujarat
- Shivalik Industries increases R&D investment by 25% in 2023
- Shivalik Industries partners with HDFC Bank for skill development and financial literacy
- Shivalik Industries reports 15% revenue growth in 2023
- Shivalik Industries achieves 18% sales growth in 2023
- Shivalik Industries posts 12% profit growth in 2023
- Shivalik Industries faces competition from Chinese and European players
- Shivalik Industries complies with various regulations and policies in different countries
- Shivalik Industries experiences supply chain disruptions due to COVID-19 pandemic
- Shivalik Industries’ credit rating upgraded by CRISIL
- Shivalik Industries’ credit outlook revised from stable to positive by ICRA
- Shivalik Industries in talks with German solar company Solaris for JV
- Shivalik Industries signs MOUs with state governments for solar projects
- Shivalik Industries participates in tenders and bids for solar projects
- Shivalik Industries acquires technology for bifacial solar modules from IIT Bombay
- Shivalik Industries explores merger and acquisition with SunPower