Shivalik Bimetal Controls Ltd (SBCL)

gone through the results some notes on consolidated basis

1. revenue growth really solid at 57.5% YOY and 24.03% QOQ.

2.material cost/revenue a concern as it has gone up to 62.7% vs 58.2% in q1 fy22 and 50.9% in Q4 FY22.

3.ebitda margin expansion to 29.4% from 23.23% Q4 FY22 and 23.73% Q1 FY 22.

4. moreover the company has purchased share of both its subsidiary at below value

SBEPL
valuation 3.15cr
sales multiple- 2.5x , net assets multiple 1.37x, net profit multiple 14x

SBECPL
valuation 23.56cr
sales multiple .59x , net assets multiple 1.75x , net profit multiple 9.77

both the valuations seem fair and good to the bussiness

overall a stellar quarter by SBCL

disc: have a small tracking position