Equity Watch

Shivalik Bimetals is a blue chip in the making

Shivalik Bimetals  Controls Ltd is a MNC which has almost  been ignored by the investor community. Co is R & D driven with in-house R& D centre approved by the Deptt. of Scientific and Industrial Research Govt. of India.Since 1986 company has  been making quality products ( Thermostatic Bimetals Strips and Bars, Electron Beam welded bimetal and trimetals, Snap action Discs, precision spring rolled stainless steel  etc etc)  for export markets. With marketing offices in NAFTA, BRAZIL, EUROPE,JAPAN, and KOREA, company is truly an Indian  MNC . Most of its products are single vendor supplies to OEM’s.

Company’s products cater to Industrial, Autos, Aviation,Electronics, Medical and Domestic Appliances sectors.

Financials are also very interesting:

Scrip Code : 513097    Company Name : Shivalik Bimetal Controls Ltd

Type Audited Audited Audited Audited
Date Begin 01 Apr 06 01 Apr 05 01 Apr 04 01 Apr 03
Date End 31 Mar 07 31 Mar 06 31 Mar 05 31 Mar 04
Description Value(Rs. million)
Gross Sales 698.47 704.19 727.36 542.06
Excise Duty -73.09 -64.45 -71.09 -61.63
Net Sales 625.39 639.74 656.27 480.42
Other Income 6.13 3.23 4.94 5.69
Total Income 631.52 642.97 661.21 486.12
Expenditure -517.94 -538.89 -552.57 -415
Operating Profit 113.58 104.08 108.64 71.11
Interest -29.99 -25.2 -21.42 -15.91
Gross Profit 83.59 78.89 87.23 55.19
Depreciation -15.22 -13.94 -12.83 -7.62
Profit before Tax 68.37 64.95 74.4 47.57
Tax -3.78 -9.3 -7.8 -6.77
Profit after Tax 64.59 55.65 66.6 40.79
Prior Period Items -0.01
Net Profit 64.59 55.65 66.59 40.8
Equity Capital 38.4 38.4 38.4 19.2
Reserves 277.62 222.01 173.95 140.74
Forex earnings/Exports 174.36
EPS 3.36 2.9 3.47 21.25
Nos. of Shares – Non Promoters 7389030 7389030 7389030 746153
Percent of Shares – Non Promoters 38.48 38.48 38.48 38.86
Result Type A A A A
  Notes Notes Notes Notes

At CMP of Rs. 15 scrip is avavilable at P/E of  less than 4.5 and has a great potential to double from these levels.

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

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