- Shivalik Bimetal posts solid Q1FY23 top and bottom lines YoY, on the back of resurging global demand
- Revenues grew by 40.43% YoY to Rs. 99.94 crore, on account of robust volume growth over last year and higher realization on consolidated basis
- Shunt Resistors comprised 48.63% of total revenues and grew by 34.24% YoY
- Thermostatic bimetal/trimetal strips comprised 49.09% of total revenues and grew by 44.08% YoY
- Operating Margin stood at 26.51% increasing by 303 bps YoY, led by higher operating leverage and increased sales volume
- PAT grew by 53.07% YoY to reach Rs. 17.11 crore, driven by high growth in revenue from operations and product mix
- Rating has been upgraded from “CRISIL A-/Stable” to “CRISIL A /Stable” dated May 31, 2022.
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