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Shivalik Bimetal Controls Ltd. Reports Resilient Revenue Growth (6.94%) for FY2024; Surging Q4 PAT (34.07%) and Strong FY24 Bimetal Growth in Europe (25.79%) and India (31.69%)

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NEW DELHI, May 30, 2024 /PRNewswire/ — At a meeting held on May 29th, the Board of Directors of Shivalik Bimetal Controls Ltd. released the financial results for Q4FY2024 and the full fiscal year 2024. As a global leader in thermostatic bimetal/trimetal strips, shunt resistors, and silver contacts, the Company continued to perform strongly despite the complexities of the global market environment.

Financial Performance Highlights:

Q4 FY 2024: PAT surged by 34.07% to ₹25.33 crore, with PAT margin up by 551 basis points to 22.66%, reflecting enhanced profitability and better operational efficiency.

FY 2024: Total Income rise & Final Dividend recommended:Total income rose by 6.94% to ₹449.40 crore, showcasing resilient revenue generation despite moderated North Atlantic demand.Recommended a final dividend of 50% (₹1.00 per equity share) for FY2024, in addition to the interim dividend of ₹0.70 per share already paid, aggregating ₹1.70 per share for the year.

FY2024: Thermostatic Bimetal/Trimetal & Shunt Resistor Sales:Asia (excluding India): Achieved a notable increase of 32.84% YoY in Shunt Resistor sales.India: Growth rose to 31.69% YoY in Thermostatic Bimetal/Trimetal sales, effectively offsetting the sluggish demand from the Americas.

(Rs. In crore) (Standalone Figures)

Key Figure

Q4FY2024

Q4FY2023

Change

FY2024

FY2023

Change

Total Income

111.77

110.13

1.49 %

449.40

420.23

6.94 %

Profit before tax

33.13

24.80

33.58 %

108.12

97.19

11.25 %

PBT as % of Sales

29.63 %

22.52 %

712 bps

24.06 %

23.13 %

93 bps

Profit after Tax

25.33

18.89

34.07 %

80.97

72.63

11.48 %

PAT Margin

22.66 %

17.15 %

551 bps

18.02 %

17.28 %

73 bps

SBCL Five-Year Growth Journey

These metrics demonstrate Shivalik Bimetal Controls Ltd.’s resilient business model and strategic market positioning, ensuring sustained growth and profitability over the last five years: 

(Rs. In crore) (Standalone Figures)

Particulars

2020

2021

2022

2023

2024

5yr CAGR

Revenue From Operation

187

204

324

420

449

24.48 %

Profit Before Tax (PBT)

16

33

70

97

108

61.19 %

Net Profit After Tax (PAT)

13

24

52

73

81

58.00 %

Over the past five years, the Company has exhibited robust financial growth, with revenue from operations rising from ₹187 crore in 2020 to ₹449 crore in 2024, reflecting a CAGR of 24.48%. This revenue growth is a testament to our effective sales strategies and strong market presence. The Company’s Profit Before Tax (PBT) has grown substantially, with a CAGR of 61.19%, increasing from ₹16 crore in 2020 to ₹108 crore in 2024. Profit After Tax (PAT) has grown at a robust CAGR of 58.00%, rising from ₹13 crore in 2020 to ₹81 crore in 2024. Furthermore, the Earnings Per Share (EPS) has increased at a CAGR of 43.98%, demonstrating the Company’s commitment to delivering substantial value to our shareholders. This five-year trend underscores the Company’s improved operational efficiency and strategic cost management, highlighting its robust bottom-line performance and effective revenue-to-profit conversion.

Zero Debt Company: Shivalik Bimetal Controls Ltd. is proud to maintain a debt-free status as of Q4FY24, both in its operational capacity and on its books, reflecting our strong financial management and strategic planning. This prudent approach to debt ensures we have the financial flexibility to invest in growth opportunities and navigate economic uncertainties effectively. Looking forward, the Company is well-positioned to capitalize on organic and inorganic growth opportunities as it enters the next financial year.

Stable Performance in Europe: Europe has maintained stable performance across both segments. Shunt sales in Q4 FY 23-24 increased by 23.37% compared to last year’s quarter, with an annual growth rate of 4.12%. Additionally, Thermostatic Bimetal/Trimetal sales in Europe grew by 25.79% for FY24, reflecting steady and reliable market presence and performance.

Consistent Growth in India for Thermostatic Bimetal/Trimetal Sales: India’s performance in the Thermostatic Bimetal/Trimetal segment has been remarkable, demonstrating robust growth and strong market penetration. In Q4 FY 23-24, sales surged to Rs. 35.14 crore, marking a significant 31.66% increase compared to Rs. 26.69 crore in Q4 FY 22-23. On an annual basis, the upward trajectory continues, with sales reaching Rs. 134.17 crore in FY 24, up 31.69% from Rs. 101.88 crore in FY 23. This consistent year-over-year growth underscores the Company’s expanding market presence and successful execution in capturing a larger market share. This robust performance underscores the significant opportunities within the Indian market, driven by increased demand for smart meters, switchgear, and electric vehicles, aligning well with the national push towards modernization and electrification.

Robust Shunt Sales Growth in Asia: Asia’s performance in both the Shunt and Thermostatic Bimetal/Trimetal segments reveals a dynamic and varied landscape. For Shunt sales, Asia (excluding India) experienced extraordinary growth in Q4 FY 23-24, with sales soaring to Rs. 13.47 crore from Rs. 2.90 crore in Q4 FY 22-23, representing an impressive 364.48% increase. Annually, sales rose to Rs. 39.59 crore in FY 24, up 32.84% from Rs. 29.81 crore in FY 23, indicating an expanding market presence. Conversely, the Thermostatic Bimetal/Trimetal segment faced challenges, with Q4 FY 23-24 sales declining to Rs. 2.61 crore from Rs. 11.61 crore in Q4 FY 22-23. This dichotomy highlights strong growth potential in the Shunt market, while the Company is actively addressing the challenges in the Thermostatic Bimetal/Trimetal sector by implementing strategic adjustments to enhance growth across all Asian markets.

Management Commentary:

Mr. S.S. Sandhu, Chairman, commented, “Over the past five years, we have built a solid foundation for growth and profitability, and I am confident that our strategic initiatives will continue to drive success in the years to come. Our focus on expanding domestic demand, coupled with the pursuit of global partnerships, particularly in the silver contacts segment, positions us favourably for future success. We expect robust growth in the domestic market to continue, and we are prepared to take advantage of the anticipated rebound in the USA. Strategically, we remain focused on expanding our product lines and leveraging our research and development capabilities to drive forward integration. Our financial strength ensures that we remain a debt-free company and are ready for any inorganic expansion should a strong opportunity present itself.”

CFO Mr. Rajeev Ranjan added, “Shivalik is well-positioned for long-term growth, underpinned by strong market tailwinds, a robust balance sheet, and solid financial performance. The Company also benefitted from a Production Linked Incentive (PLI) scheme, adding ~₹8 crore in cash and ~₹12 crore as other income for a significantly raised PAT. Our consistent earnings growth, highlighted by the 43.98% CAGR in EPS, demonstrates our commitment to delivering substantial shareholder value. Looking ahead, we anticipate steady growth recovery in the Atlantic region and continued robust demand from Asia. During FY2024, we formalized major contracts, foreshadowing a promising business pipeline. Additionally, the recent addition of a property provides sufficient headroom for our forward integration and expansion of assembly lines.”

About Shivalik Bimetal Controls Ltd. (SBCL)

Founded in 1984, and headquartered out of New Delhi, Shivalik Bimetal Controls Limited is a process and product engineering specialised business based in India. It manufactures and sells thermostatic bimetal/trimetal strips for switching components used in electrical, electronics, automotive, and industrial applications. The Company also makes shunt resistors for use in the high-growth automotive and industrial equipment segments. The rising demand for switchgear, battery management and smart metering systems also conveys solid long-term prospects for Shivalik’s product lines. With its unique business model based on proprietary bimetal technologies and niche solutions that OEMs demand, Shivalik thrives in an industry with high entry barriers. Today, as a valued vendor, the Company is making a mark in supplying high-quality bimetals and shunt resistors to the fast-emerging electric vehicles and customisable smart meters of the future,

Shivalik’s highly experienced management has led the Company to prominent ownership in technology and applications. Its solid balance sheet, combined with prudent capital management, drives Shivalik’s robust growth potential. With plants in Chambhaghat and Kather, Solan, operated by a team of 808 vastly skilled people, Shivalik serves more than 125 clients globally.

 

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Innowise Named to 2026 CRN Tech Elite 250 List By The Channel Company

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WARSAW, Poland, April 26, 2026 /PRNewswire-PRWeb/ — Innowise has officially secured a position on CRN’s 2026 Tech Elite 250. This annual ranking identifies IT solution providers across the US and Canada that have achieved top-tier status within the partner programs of the industry’s leading technology vendors. The inclusion follows a period of verified growth in technical proficiency and a focus on high-impact engineering.

“Innowise concentrates on creating scalable, resilient architectures that produce measurable benefits for our clients. The honor of being recognized by CRN highlights the commitment of our experts to maintain high standards in highly competitive markets,” said Dmitry Nazarevich, CTO at Innowise.

About the Tech Elite 250

The Tech Elite 250 is a directory of companies recognized as having the highest level of partnership and certifications within the global IT ecosystem. In order to reach the final list, the provider must hold the most advanced technical credentials from vendors like AWS, Cisco, Dell, HPE, IBM, Intel, Nutanix, and Nvidia.

This directory serves as a verified ledger for enterprise clients who need to orchestrate complex hardware and software stacks without letting legacy environments rot. Holding these certifications is mandatory to stop the cash bleed caused by inefficient infrastructure and unoptimized cloud usage.

About Innowise

Founded in 2007, Innowise is a global software engineering and IT consulting center. The company is focused on developing high-value technologies, including artificial intelligence, data engineering, and cloud computing. Innowise crafts technological solutions for companies across 40+ domains in order to assist them in updating, creating, and modernizing their digital ecosystems.

Innowise specializes in using established technologies and modular approaches to enable organizations to expand or shift their operations while retaining complete control over all their physical and intangible assets.

Media Contact

Lizaveta Piaskova, Innowise, 48 48 787 027 706, lizaveta.piaskova@innowise.com, innowise.com

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Neusoft Showcases Full-Stack & Global Innovations at Auto China 2026

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BEIJING, April 26, 2026 /PRNewswire/ — At Auto China 2026, Neusoft Corporation hosted a press conference on April 25th and announced three key strategic moves: the iteration of Neusoft OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0, the launch of Neusoft NAGIC.AI Cockpit Software Platform, and the strategic upgrade of its subsidiary, Neusoft Smart Go. By leveraging full-stack technology and a global ecosystem to drive innovation and empowerment, Neusoft is transforming vehicles into proactive, connected and collaborative mobile intelligent spaces.

OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0: An Evolved AI Companion for Global Intelligent Mobility

Intelligent mobility requires proactive perception, scenario integration, and global connectivity to meet personalized user needs and complex driving scenarios. Neusoft, whose products cover over 130 countries and regions worldwide, addresses these challenges with its OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0 through AI-driven innovation and global ecosystem collaboration. Powered by One Mate’s cross-agent collaboration and a sub-product matrix including One Map, One Sight, One Cloud, One Pay, One Store, One Link, and One Guard, the solution delivers full-link global mobility services spanning navigation, in-cabin AR, payment, app ecosystem services, connectivity and security. By breaking down functional silos, it streamlines multi-step operations into a single “depart” command, leveraging full-stack AI technology across perception, decision-making, interaction, and execution processes.

Guan Xin, Vice President of Neusoft and General Manager of Neusoft Automotive Innovative Solutions Division, said, “Adhering to the core principles of AI and globalization, OneCoreGo® 7.0 keeps innovating, evolving into a globally intelligent mobility companion that truly understands user needs.”

To enhance driving safety and mobility efficiency, OneCoreGo® 7.0 has also comprehensively upgraded its sub-products: One Map Global Navigation newly introduces 3D city effects, 3D lane-level maps, and traffic light guidance, offering dedicated solutions for two-wheelers and commercial vehicles as well. One Sight AR For Car improves navigation display effects, reducing instances of taking wrong routes. One Pay In-Vehicle Payment achieves over 90% payment coverage for parking services across core European cities. Combined with One Cloud’s global compliance cloud monitoring platform and One Guard’s full-stack vehicle networking security services, it creates a truly comprehensive OneCoreGo® Global In-Vehicle Intelligent Mobility Solution.

Neusoft NAGIC.AI Cockpit Software Platform: Dual-track Architecture for AI Integration in Every Vehicle

Amid the AI-driven transformation of the automotive industry, the market faces two challenges: limited computing power in legacy vehicles and high adaptation difficulties for next-gen models. Neusoft’s NAGIC.AI Cockpit Software Platform adopts a flexible “distributed + centralized” dual-track architecture approach. For existing vehicle models, it introduces the AI BOX solution, rapidly boosting computing power via external AI computing units, significantly reducing upgrade costs and timelines. For new vehicle models built on next-gen central computing platforms, Neusoft provides a full-stack AI cockpit software product suite, meeting automakers’ stringent requirements for system stability, reliability, and full-domain control.

Pang Hongyan, Vice President of Neusoft and General Manager of the Automotive Intelligent Software Division, said, “Our dual-track architecture enables every vehicle to embrace AI and enjoy an intelligent future. Both existing models and new-generation vehicles can find the most suitable path to intelligentization.”

Moreover, Neusoft’s NAGIC.AI Cockpit Software Platform features scenario-based, human-centric AI Agents seamlessly integrating driving safety, occupant care services, intelligent assisted driving and in-cabin entertainment. Neusoft also collaborates with global ecosystem partners to drive intelligent upgrades of in-cabin interaction products, fostering a more open and dynamic intelligent cockpit ecosystem.

Strategic Upgrade of Neusoft Smart Go: A World-leading Provider of Full-Domain Upper-Body Electronics Solutions for Intelligent Vehicles

Aligning with the trend of E/E architecture evolution from distributed control to “central computing + zonal control”, Neusoft Smart Go, a subsidiary of Neusoft in the field of intelligent vehicle connectivity, has completed a strategic upgrade, aiming to become a global leader in full-domain upper-body electronics solutions for intelligent vehicles.

This strategic upgrade positions Neusoft Smart Go to focus on full-domain scenarios in upper-body electronics, building a product matrix covering full-category in-vehicle electronics solutions, including central computing platforms, cockpit-driving-parking integration, intelligent cockpits, intelligent communications, intelligent audio systems, and zonal control units, and pioneering the integration of large model algorithms.

Jian Guodong, Senior Vice President of Neusoft and CEO of Neusoft Smart Go, said, “This strategic upgrade represents a significant leap from partial focus to comprehensive layout. Through our dual-track strategy of high-end cutting-edge solutions and mature standardized products, we can flexibly meet the mass production needs of vehicle models across different regions and price segments worldwide.” Neusoft Smart Go will provide mass-producible, adaptable hardware-software integrated solutions, empowering global automakers in achieving intelligent transformation.

Neusoft’s President, Mr.Gai Longjia stated, “In the future, Neusoft Smart Go will create stronger synergy with Neusoft Corporation by sharing internal technologies and capabilities while responding jointly to external demands. This specialized yet collaborative model will preserve business unit’s agility and expertise while enhancing Neusoft’s full-stack technological advantages.”

As a trusted partner in a smarter world, Neusoft is committed to collaborating with global automakers and ecosystem partners to build an open and inclusive intelligent automotive community together for the future of global mobility.

For more information about Neusoft, please visit www.neusoft.com.

 

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Lianlian DigiTech Returns to Money20/20 Asia to Expand Partnerships, Share Industry Trends, and Explore AI-Enabled Global Financial Infrastructure

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BANGKOK, April 26, 2026 /PRNewswire/ — Lianlian DigiTech, a leading global provider of digital payment services, was once again invited to participate in Money20/20 Asia, one of the world’s most influential fintech gatherings, held in Bangkok, Thailand from April 21 to 23. At the event, the company presented its latest developments in cross-border payment infrastructure, technology innovation, and ecosystem collaboration, offering a comprehensive view of its work enhancing global cross-border payment capabilities.

During the conference, Lianlian DigiTech announced a strategic partnership with UK-based fintech company USI Money to further strengthen its global cross-border payment network, delivering more efficient and reliable fund flows for merchants worldwide. Shen Enguang, Co-President of Lianlian DigiTech; Mark Ma, Head of Global Banking Partnership at LianLian Global; and Bryan Jiang, General Manager Hong Kong of LianLian Global, attended the event and engaged with representatives from international financial institutions. They shared perspectives on fintech trends and global payment innovation, offering industry insight into the continued evolution of a more integrated and interoperable cross-border payments ecosystem.

Building a Borderless Payment Network with Global Partners Including USI Money

At the event, Lianlian DigiTech formalized a strategic collaboration with London-headquartered USI Money to further develop its global payment infrastructure.

The partnership will focus on cross-border remittance and foreign exchange services, combining both companies’ technological capabilities and resources to deliver a one-stop payment and collection solution for global businesses. The offering is built to be efficient, secure, and cost-effective, improving overall fund flow efficiency and streamlining foreign exchange execution.

Syed Bukhari, Group Chief Business and Operating Officer at USI Money, said: “Our partnership with Lianlian will strengthen our remittance capabilities, creating greater value for our customers through broader network coverage and improved transaction performance.”

Bryan Jiang, General Manager Hong Kong of LianLian Global, said: “By leveraging the complementary strengths of our ecosystem partners in technology and compliance, Lianlian will continue to scale its global payment network and improve transaction efficiency. We remain committed to enhancing financial connectivity across global financial markets and delivering more efficient and reliable cross-border payment solutions for our customers.”

Founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (2598.HK), Lianlian DigiTech is a China-based, globally focused digital payment company with increasingly integrated AI capabilities across its platform. Guided by its mission of “Connecting the world, Empowering global commerce,” the company focuses on developing a trusted and scalable financial infrastructure. As of the end of 2025, Lianlian DigiTech has built a cross-border payment network covering more than 100 countries and regions, serving over 10.4 million customers worldwide.

USI Money is a foreign exchange and international remittance service provider offering tailored cross-border financial solutions for businesses and individuals. With competitive real-time exchange rates and efficient execution as its core strengths, the company delivers fast, secure, and reliable global fund transfers.

In addition, Lianlian DigiTech co-hosted a networking session with Unlimit during the event, providing a forum for industry dialogue. The session brought together a broad group of fintech partners to explore collaborative models and help foster a more connected ecosystem.

Industry Roundtables: Unlocking Layered Collaboration in AI-Driven Cross-Border Payments and Advancing Financial Inclusion in Emerging Markets

At the same time, Mark Ma and Bryan Jiang were invited to the themed roundtable discussions, where they shared insights drawn from industry practice and outlined new approaches to aligning fintech innovation with the global financial system.

At the roundtable on “Fintech and Banks,” Mark Ma noted that the global payment system is rapidly shifting from isolated capabilities to a layered, collaborative model. Banks continue to serve as the foundational infrastructure, responsible for clearing networks and liquidity management. Fintech firms like Lianlian, meanwhile, build on top of this foundation to deliver application-layer services for businesses, transforming complex cross-border payment channels into more accessible solutions that support a wider range of practical business scenarios. He also emphasized fintech’s growing role in compliance and value creation. By embedding risk controls and verification processes into technology workflows, fintech companies can act as compliance intermediaries, improving efficiency while filtering risk and enabling banks to operate more effectively at scale. Meanwhile, insights derived from transaction data and business flows allow for more precise evaluation of small and medium-sized businesses, shifting capital allocation from experience-based decisions to data-driven approaches and improving access to financial services.

At the roundtable titled “Different Worlds, Shared Challenges: Bridging Emerging Markets,” Bryan Jiang pointed out that the core of financial inclusion is shifting from scale of coverage to practical usability in everyday financial activity. The ability to serve underserved segments such as small and micro merchants and overseas workers in a sustained and reliable manner ultimately depends on continuous improvements in product design and operational capabilities. Using emerging markets as an example, Jiang explained that small and medium-sized businesses in these regions often face challenges such as difficult account setup, complex cross-border collections, high foreign exchange costs, and multi-layered tax requirements. Many existing solutions still follow traditional business-focused models, resulting in cumbersome KYB processes and lengthy review cycles that are misaligned with the asset-light, high-frequency, fast-turnover nature of these businesses. In response, Lianlian has lowered barriers to fund flows by offering local collection accounts, optimizing foreign exchange mechanisms, and improving settlement efficiency. The company has also restructured account architecture, streamlined review processes, and enhanced fund visibility, creating a more seamless and intuitive user experience that better aligns financial services with its clients’ business operations and day-to-day activities.

As digital technologies increasingly integrate with the real economy, innovations in AI and blockchain are reshaping the foundations of global financial services. Lianlian DigiTech has long invested in AI capabilities, global compliance, and the growth of its international service network. Its broad licensing coverage, regulatory track record, localized service capabilities, and technical reliability have earned the trust of regulators, customers, and partners worldwide.

Looking ahead, Lianlian DigiTech will continue to build on its cross-border expertise and compliance experience to further develop its AI capabilities and deepen collaboration with global partners. The company aims to extend its role beyond payment network services into more integrated financial infrastructure solutions. Lianlian DigiTech remains committed to serving as a trusted platform for global financial transactions in an increasingly digital environment, enabling businesses and individuals worldwide to access faster, more efficient, and more seamless cross-border financial services.

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