Multibagger stock rose 3,600% in three years; hit 52-week high today

Shares of Shivalik Bimetal Controls Ltd have rallied 3,662% in the last three years. The small cap stock, which closed at Rs 14.47 on March 27, 2020 rose to a fresh 52 week high of Rs 544.45 on the BSE today. An amount of Rs 1 lakh invested in the shares of Shivalik Bimetal three years ago would have turned into Rs 37.62 lakh today. In comparison, Sensex has risen 93.94 per cent during the period.

However, the stock also fell 2.67% to Rs 523.05 on BSE today. It has gained 10% in the last two sessions. The stock opened marginally lower at Rs 532.40 today against the previous close of Rs 537.40 on BSE.  

In terms of technicals, the relative strength index (RSI) of the stock stands at 80.3, signaling it's strongly overbought. Shivalik Bimetal shares have a beta of 1, indicating average volatility in a year. Shivalik Bimetal shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

The stock has risen 55% in one year and gained 32.87% since the beginning of this year. The share has climbed 29.75% in a month. Total 0.24 lakh shares of the firm changed hands amounting to a turnover of Rs 1.30 crore on BSE. Market cap of the firm stood at Rs 3,099 crore on BSE.   

16 promoters held 60.61 per cent stake in the firm and 29,582 public shareholders owned 39.39 per cent for the quarter ended December 2022. Of these, 28,887 public shareholders held 1.46 crore shares or 25.41% stake with capital up to Rs 2 lakh. Only 13 shareholders with 7.77% stake held capital above Rs 2 lakh for the quarter ended December 2022. 

Two foreign portfolio investors (FPIs) held 0.07% in Q3 of the current fiscal. 

Shivalik Bimetal has outperformed its peers in terms of stock market returns in the last three years. Shares of Jindal Saw have risen 250%  and stock of Mishra Dhatu has gained 1.5% in the last three years.  Stock  of another competitor Tata Steel Long has risen 242% during the period. 

Financial Performance

The stellar rally in the Shivalik Bimetal stock of reflects the financial performance of the firm in the last three years. In the December quarter, the firm reported a 7.48% rise in net profit to Rs 16.66 crore against Rs 15.50 crore in the corresponding quarter of previous fiscal. 

Sales rose 34.34% to Rs 118.39 crore in the last quarter against Rs 88.13 crore in the December quarter of 2021.

Operating profit rose 39.38% to Rs 28.67 crore for the quarter ended December against Rs 20.57 crore in the corresponding quarter of the previous fiscal. 

On a quarter-on-quarter basis, the firm reported a 13.45% fall in net profit from Rs 19.25 crore in the September 2022 quarter. Sales climbed 0.67% from Rs 117.60 crore in Q2 of the current fiscal. 

On an annual basis, net profit zoomed 116.20% to Rs 55.11 crore for the fiscal ended March 2022 against Rs  25.49 crore for the fiscal ended March 2021. For the fiscal ended 2020, net profit stood at Rs 12.76 crore. 

Sales climbed 59.04% to Rs 323.99 crore in the last fiscal against Rs 203.72 crore for the fiscal ended March 2021. For the fiscal ended 2020, sales stood at Rs 187.22 crore. 

 

About the Company

Shivalik Bimetal Controls is primarily engaged in the business of manufacturing and sales of thermostatic bimetal/tri-metal strips, components, spring rolled stainless steels, electron beam (EB) welded products with multigauge, cold bonded bimetal strips and parts. The company operates through the process and product engineering segment. The company specialises in the joining of metals by various methods, such as diffusion bonding, EB welding, continuous brazing and resistance welding. The Company caters to a range of applications, including switchgear, energy meters, industrial, electrical applications, and automotive and electronic devices.  

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