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Shivalik Bimetal Controls Ltd. Reports Shunt Success in Europe, Asia & India for Q1FY25

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NEW DELHI, Aug. 7, 2024 /PRNewswire/ — At a meeting held on August 6th, the Board of Directors of Shivalik Bimetal Controls Ltd. (SBCL) released the financial results for Q1FY25. As a global leader in thermostatic bimetal/trimetal strips, shunt resistors, and silver contacts, SBCL navigated a challenging global market environment marked by commodity price fluctuations and geopolitical tensions. The Company demonstrated resilience and continued to drive positive volume growth.

Q1FY25 Financial Performance Summary:

Total Income: Decreased marginally by 5.18% to ₹107.22 Crore from ₹113.07 Crore in Q1FY24, reflecting the effects of lower commodity prices for key input metals.Product Volumes: In volume terms, measure in total weight, the business grew by 8.58% YoY in Q1FY25, from 5,47,916kg in Q1FY24 to 5,94,951kg in Q1FY25.Profitability: Profit Before Tax (PBT) fell by 18.75% to ₹21.75 crore, with PBT as a percentage of sales decreasing by 339 basis points to 20.29%. These declines are primarily due to rise in Cost of Goods Sold (COGS); marginally due to increased manpower costs with investment in people and R&D; and to some degree, higher operational expenses. Management is implementing enhanced cost management strategies towards future mitigation, through improved manufacturing efficiencies and implementing selling price adjustments that are absorbable by the market.

Q1FY25 Highlights from Shunt Resistor Sales: 

The strong growth in Europe, Asia, and India has mitigated the reduction in sales from the Americas to a great extent, maintaining Shivalik’s robust financial health and reaffirming its strategic focus on having a diversified market presence.

Europe: Sales in Europe surged by 134.40%, reaching Rs. 8.04 crore in Q1FY25 off a small base of Rs. 3.43 crore in the same period last year. This growth is the result of Shivalik’s successful market penetration and increasing demand for its high-quality shunts in the European region.Asia (Excluding India): The Asian market recorded a substantial increase of 67.02%, with sales rising to Rs. 17.03 crore from Rs. 10.20 crore in Q1 FY24. This growth stems from Shivalik’s strategic expansion and the robust demand across various Asian markets outside India.India: The Indian market continued to show steady growth, with sales increasing by 11.34% to Rs. 11.26 crore in Q1FY25 from Rs. 10.11 crore in Q1 FY24. This consistent performance is the outcome of the steadily rising domestic demand and the Company’s solid foothold in its home market.Americas: Despite the significant gains in these regions, sales for Shunts in the Americas dropped by 44.76%, from Rs. 29.22 crore in Q1 FY24 to Rs. 16.14 crore in Q1FY25. This decrease reflects market-specific challenges and ongoing consolidation in the EV marketplace being experienced in the United States.

Financial Performance:
(Rs. In crore) (Standalone Figures)

Key Figure

Q1FY2025

Q1FY2024

Change

Total Income

107.22

113.07

-5.18 %

Profit before tax

21.75

26.77

-18.75 %

PBT as % of Sales

20.29 %

23.68 %

(339 bps)

Profit after Tax

16.30

20.23

-19.41 %

PAT Margin

15.21 %

17.89 %

(268bps)

 

Topline Performance and Demand: The Q1FY25 financial performance reflects a complex interplay of external market conditions and strategic operational decisions. The total income decreased by 5.18% to ₹107.22 Crore from ₹113.07 Crore in Q1FY24, reflecting the impact of lower commodity prices for input metals and market fluctuations. This reduction in raw material costs, coupled with market volatility, has contributed to the overall decrease in sales revenue. This decline was partially offset by increased volumes in both bimetal/trimetal strips and shunt resistors, indicating continued underlying demand strength for the Company’s products.

Profitability: Profit Before Tax (PBT) fell by 18.75% to ₹21.75 Crore compared to ₹26.77 Crore in Q1FY24. The PBT as a percentage of sales decreased by 339 basis points to 20.29%. Profit After Tax (PAT) reduced by 19.41% to ₹16.30 Crore from ₹20.23 Crore in Q1FY24, reflecting overall pressure on profitability due to increased operational costs amidst fluctuating market conditions. The PAT margin dropped by 268 basis points to 15.21% compared to 17.89% in Q1FY24, driving the Company’s focus on cost management to maintain profitability in a volatile market environment.

The decline in profitability reflected in Q1FY25 is due to several factors. Increased Costs of Goods Sold (COGS) was the main contributor to the profitability drop alongside marginal rise in operational expenses, including higher utility costs and maintenance expenses. In response to these challenges, Shivalik is strengthening its cost management strategies to optimize operational efficiencies, effectively manage input costs, and ensure sustainable growth despite volatile market conditions. Furthermore, Shivalik anticipates that as the Company transitions towards producing more complex subassemblies using their components to deliver value-added solutions, coupled with future general selling price adjustments that the market can absorb, these measures should offset the current cost loads.

Regional Performance: The Company showed resilience through positive volume growth and strategic market expansion in key regions of Europe, India, and Asia (excluding India).

Taking Root in Europe: Europe’s performance in Q1FY25 showcased significant growth, particularly in the shunt resistor segment. Shunt resistor sales in Europe surged by 134.40%, reaching ₹8.04 Crore compared to ₹3.43 Crore in Q1FY24. This substantial increase reflects the growing demand for shunt resistors driven by the adoption of electric vehicles (EVs) in the region. Despite a slight decline in the thermostatic bimetal/trimetal segment, with sales decreasing by 19.61% from ₹11.93 Crore in Q1FY24 to ₹9.59 Crore in Q1FY25, the overall market presence in Europe remains strong. This performance is the result of Shivalik’s strategic positioning and the successful penetration of high-growth markets.Stable Performance in India: The Indian market continued to demonstrate stable growth in Q1FY25, particularly in the thermostatic bimetal/trimetal segment. Sales in this segment marginally increased by 0.39%, reaching ₹29.89 Crore compared to ₹29.77 Crore in Q1FY24. The shunt resistor segment also showed positive growth, with sales increasing by 11.34% to ₹11.26 Crore from ₹10.11 Crore in Q1FY24. This consistent performance underscores the company’s strong market presence and the increasing demand driven by the smart meter transition and the steady adoption of hybrid and electric vehicles, aligning with India’s push towards modernisation and electrification.Dynamic Growth in Asia (Excluding India): Asia, excluding India, displayed dynamic growth patterns in Q1FY25. The shunt resistor segment experienced significant growth, with sales increasing by 67.02%, reaching ₹17.03 Crore compared to ₹10.20 Crore in Q1FY24. However, the thermostatic bimetal/trimetal segment faced challenges, with sales declining by 42.91% to ₹4.12 Crore from ₹7.22 Crore in Q1FY24. This mixed performance highlights the strong growth potential in the shunt resistor market while underscoring the need for strategic adjustments in the thermostatic bimetal/trimetal segment to enhance growth across all Asian markets.
Strips stay resilient in the Americas: The performance in the Americas showed a mixed picture, with significant growth potential and recovery signals. While shunt resistor sales declined by 44.76%, from ₹29.22 Crore in Q1FY24 to ₹16.14 Crore in Q1FY25, thermostatic bimetal/trimetal sales remained stable, showing a marginal decline of 0.36% to ₹11.15 Crore from ₹11.19 Crore in Q1FY24. Despite these challenges, the region’s market is expected to recover, driven by strategic market initiatives and customer signals, indicating a positive outlook for the upcoming quarters.

Management Commentary:

Mr. N.S. Ghumman, Managing Director of Shivalik Bimetal Controls Ltd., commented:

“Over the past year, we have diligently focused on adapting to market fluctuations and enhancing our strategic initiatives to drive sustainable growth. Our Q1FY25 performance underscores the effectiveness of these efforts, particularly in the European market where our efforts in shunt resistor sales are taking root. Additionally, our strategic expansion in other high-growth markets and the rising long-term demand for electric vehicles (EVs) position us favourably across various regions.

Our commitment to research and development is key to our success. We specialize in niche and critical products that require technical expertise and have high value in segments like smart meters, Battery Management Systems (BMS), and electrification. With positive market pick-ups in Europe, Asia, and India for shunt resistors, especially as the EV market grows, our ongoing R&D initiatives aim to add further value through forward integration for OEMs. We are also focused on improving automation, operational efficiency, and technological processes for our high-precision products. These efforts ensure we remain at the forefront of innovation and continue to deliver superior value to our clients.”

CFO, Mr. Rajeev Ranjan, added:

“Our financial performance in Q1FY25 demonstrates the robustness of our business model amidst a challenging market environment. Despite a 5.18% decrease in total income to ₹107.22 Crore, our strategic focus on volume growth yielded an 8.58% increase in product volumes, underscoring the resilient demand for our products. This growth is a testament to our market positioning and the effectiveness of our expansion strategies in Europe, Asia, and India.

The decline in profitability, with PBT falling by 18.75% to ₹21.75 Crore and PAT reducing by 19.41% to ₹16.30 Crore, reflects the impact of increased COGS also affecting our margins. Looking forward, we are enhancing our R&D capabilities and operational efficiencies, positioning us for long-term growth. We are implementing manufacturing cost management to improve our margins.

Looking to the future, our market diversification strategy is yielding positive results, particularly in the European market, where shunt resistor sales improved by 134.40% off a modest base. This growth, along with significant gains in Asia, demonstrates our ability to capture high-growth segments and adapt to regional market dynamics. While sales in the Americas faced challenges, we are optimistic about a gradual recovery as the EV market stabilises and demand picks up.”

Shivalik Bimetal Controls Ltd.

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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Wistron Celebrates Grand Opening of First U.S. Smart Factory Marking Milestone in Global Smart Manufacturing Strategy

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FORT WORTH, Texas, July 21, 2026 /PRNewswire/ — Wistron Corporation (“Wistron”) celebrated the grand opening of its D1 AI smart facility in Fort Worth, Texas, the site where the first NVIDIA GB300 Grace Blackwell Ultra Superchip was built and mass-produced in the United States. The US$ 700 million facility, spanning approximately 324,000 square foot, was officially unveiled during a ceremony led by Wistron Chairman Simon Lin and NVIDIA Founder and CEO Jensen Huang. Jessica Rogers, Director of the Economic Development Department for the City of Fort Worth, and Alexander Tah-ray Yui, Taiwan’s Representative to the United States, were among the government officials and business leaders who attended, marking a milestone in the expansion of Wistron’s global footprint and advanced manufacturing capabilities.

This is a key hub in Wistron’s global AI infrastructure manufacturing network. The facility runs on NVIDIA accelerated computing and integrates NVIDIA’s Nemotron and Cosmos open frontier models and Omniverse and Metropolis libraries, using digital twin technology to optimize factory design, production workflows, and operational efficiency. It is Wistron’s first U.S.-based manufacturing facility, established to serve customers locally and produce NVIDIA’s most advanced and cutting-edge products. Wistron Chairman Simon Lin said “The operation here is not typical manufacturing. It is new, very comprehensive, and high-tech. Right now we produce the NVIDIA GB300 Grace Blackwell Ultra Superchip, and beyond, we are also going to produce the NVIDIA Vera Rubin Superchip here. In the next couple of years, this location will be one of the most important, as we build AI infrastructure here in the United States. I think this is the reason we say that there will be the next chapter, and we are going to empower AI from Texas.”

Responding to Customer Needs: Texas, the Newest Global Manufacturing Hub
At this pivotal moment for global AI infrastructure, Wistron is drawing on decades of global manufacturing experience to expand its footprint in Texas, a state with a well-established ecosystem for logistics, talent recruitment, and advanced manufacturing. The new D1 facility produces the NVIDIA GB300 Grace Blackwell Ultra Superchip and soon, the NVIDIA Vera Rubin Superchip — critical to powering the next generation of AI computing. The new Fort Worth facility strengthens a critical upstream layer of the AI infrastructure supply chain by expanding domestic capacity to assemble and test NVIDIA AI systems. These servers can be integrated into NVIDIA DSX infrastructure, with DSX providing the common architecture and technologies needed to deploy and operate energy-efficient AI factories at scale.

One-Stop Operational Ecosystem Strengthens U.S. AI Supply Chain Resilience
Behind every breakthrough in AI computing lies the manufacturing capability to scale it. Wistron is expanding its AI server production capabilities from Taiwan to the United States, guided by a vision of precision, efficiency, and sustainability. This reflects a broader industry shift: AI leadership is determined not only by technological breakthroughs, but also by the operational capability to transform innovation into high-volume production with consistent quality, supply chain resilience, and predictable delivery. By establishing AI infrastructure manufacturing capacity in the United States, Wistron is building a one-stop operational ecosystem spanning manufacturing and after-sales service — shortening delivery timelines and customer support cycles, strengthening supply chain resilience, and laying the foundation for long-term competitive advantage as AI infrastructure continues to scale.

Partnering with NVIDIA to Pioneer a New Model for Smart Manufacturing and Energy Optimization
As the era of physical AI begins, Wistron is extending its smart manufacturing capabilities to the United States, creating a new model for AI infrastructure production built on digital manufacturing, energy optimization, and local operations. Jensen Huang said: “The largest infrastructure buildout in history is underway. Demand for AI factories—the engine of this next industrial revolution—is incredible, and they must be produced everywhere. Together, NVIDIA and Wistron are restoring US advanced manufacturing capacity in Texas, creating skilled jobs and strengthening America’s AI supply chain.” As demand for advanced manufacturing grows in Texas, smarter planning of production loads and energy use will give the plant greater control and flexibility over its electricity needs.

Turning Global Experience into Scalable AI Infrastructure
Simon Lin stressed that the speed the AI era demands comes with its own responsibility. “In the AI era, the pressure of speed is also a form of responsibility,” Lin said. “We don’t just need to build fast; we need to build right.”

The Fort Worth plant will serve as the core engine of Wistron’s U.S. manufacturing operations, the company said, connecting its global production network with ecosystem partners as it scales advanced AI manufacturing. Wistron said that the investment reflects efforts to deepen its technical capabilities, strengthen the resilience and efficiency of global supply chains, and support the next phase of AI infrastructure development.

About Wistron:
Wistron Corporation is a leading global technology service provider delivering advanced ICT products, AI infrastructure, and manufacturing solutions to technology brands worldwide. With more than 63,000 employees across North America, Europe, and Asia, Wistron continues to expand its AI, cloud, and advanced manufacturing capabilities to support the next generation of intelligent computing. For more information about Wistron, please visit the official website at www.wistron.com. Additional information about the event is available on the event website.

Media Contact:
Joyce WL Chou
joyce_wl_chou@wistron.com

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SOURCE Wistron Corporation

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NSG Bio Accelerates Breakthrough Biotech Innovation in Singapore

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New initiative under NSG Bio Tomorrow will support promising startups developing next-generation approaches in respiratory and neonatal care

SINGAPORE, July 22, 2026 /PRNewswire/ — The NSG Bio Tomorrow initiative aims at supporting emerging life sciences startups working on complex challenges in respiratory and neonatal care.

Launched through the support of Chiesi Group, The Impulse initiative will provide a selected startup with one year of NSG Bio membership and access to a dedicated laboratory bench at NSG Bio Singapore. The initiative is designed to help early-stage biotech companies move from promising science toward stronger proof-of-concept work in a fully equipped research environment.

The initiative comes at a time when the biotech industry is increasingly looking for faster, more connected ways to move high-potential science from the lab toward real-world patient impact. For startups, access to infrastructure is only one part of the challenge. Equally important are the right networks, industry visibility, technical environment, and opportunities to engage with partners who understand the path from early discovery to clinical relevance.

The programme will focus on startups developing innovative biotechnological solutions with potential relevance to chronic respiratory diseases and neonatal conditions. Areas of interest include cell therapies, gene therapies, gene-editing technologies, regenerative tissue engineering, engineered or programmable living systems, lung-targeted delivery platforms, preventive approaches, and small-molecule-based approaches.

The selected startup will gain access to NSG Bio’s laboratory infrastructure, shared workspaces, meeting facilities, and wider community of biotech entrepreneurs, researchers, scientific leaders, and industry partners. The support is intended to help the company advance key research milestones while becoming part of Singapore’s growing life-science innovation ecosystem.

For NSG Bio, the initiative is part of NSG Bio Tomorrow, its ecosystem-building arm created to expand the company’s role beyond facilities and real estate. While NSG Bio is known for providing high-quality laboratory and office infrastructure for biotech companies, NSG Bio Tomorrow focuses on building the programmes, partnerships, and opportunities that help startups grow.

“Biotech companies need more than lab space. They need access, momentum, and the right ecosystem around them,” said Hasyim Sim, Co-Founder and Chief Operating Officer, NSG Bio. “Through NSG Bio Tomorrow, we are building initiatives that help promising startups connect with partners, unlock opportunities, and move their science forward. This initiative reflects exactly the kind of role we want to play in the biotech ecosystem.”

“Chiesi is committed to supporting innovation that can make a meaningful difference for patients, and we work with entrepreneurs, researchers and partners to advance meaningful ideas,” said Fabrizio Conicella, Vice President, Center of Open Innovation & Competence at Chiesi Group. “By supporting this NSG Bio Tomorrow initiative, we want to create an opportunity for early-stage innovators to access the infrastructure and ecosystem support needed to develop impactful science in respiratory and neonatal care.”

NSG Bio Tomorrow programme also reinforces Singapore’s position as a growing hub for biotech innovation in Asia, where startups, research institutions, investors, and industry partners are increasingly coming together to support the next generation of healthcare companies.

Applications open on 22 July 2026 at 09:00 a.m. SGT. Finalists will be invited to present at a virtual pitch event, after which the selected startup will be announced.

About NSG Bio

NSG Bio is Singapore’s leading provider of BSL-2 certified co-working laboratory and office spaces, supporting life-science companies from early research through growth. Through its facilities, community, and ecosystem initiatives, NSG Bio enables biotech innovators to accelerate research, access networks, and build companies that address critical healthcare challenges.

About NSG Bio Tomorrow

NSG Bio Tomorrow is NSG Bio’s ecosystem-building arm, created to support the next generation of biotech innovation through partnerships, programmes, community initiatives, and opportunities that extend beyond physical laboratory infrastructure. Its mission is to strengthen the biotech industry by connecting startups with the resources, expertise, and networks they need to thrive.

About Chiesi Group 

Chiesi is a research-oriented international biopharmaceutical group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company’s mission is to improve people’s quality of life and act responsibly towards both the community and the environment. As a certified B Corp since 2019, Chiesi is part of a global community of businesses that meet high standards of social and environmental impact. 

With 90 years of experience, Chiesi is headquartered in Parma (Italy), with 31 affiliates worldwide, and counts more than 7,900 employees. The Group’s research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden. For further information please visit https://www.chiesi.com/en/home 

Media Contact
Giridharan
Laboratory Manager
NSG Bio
giridharan@nsgbio.com
87797175

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SOURCE NSG Bio

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House Judiciary Committee Passes Bill that Would Prevent Future Immigration Crises: Swift Action Needed by Full House, Says FAIR

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WASHINGTON, July 21, 2026 /PRNewswire/ — Today, the House Judiciary Committee passed an updated version of H.R. 2, the landmark border security bill from last congressional session. The bill now awaits consideration by the full House of Representatives. The Federation for American Immigration Reform (FAIR) urges Speaker Mike Johnson to schedule a final floor vote as soon as possible.

The Secure Border Act systematically closes the loopholes that allowed the Biden administration to unleash the largest and most damaging wave of illegal immigration in American history. Enactment of this legislation would prevent future anti-borders administrations from shirking their responsibilities to secure our borders and enforce our immigration laws; asserting unlimited discretion to parole inadmissible aliens to enter the country; or releasing millions of illegal aliens into the country, rather than detaining them or returning them to the country from which they entered.

“We congratulate the Judiciary Committee for its swift action on this critical legislation,” said Dale Wilcox, executive director and general counsel of FAIR. “Ending border chaos and rampant illegal immigration was a key reason that Republicans regained control of the White House and both chambers of Congress in the last election. The clock is ticking on the 119th Congress, and Republicans only have a short time to deliver on the promises they made to voters in 2024, before the midterms.

“Right now, our immigration laws are being enforced in the interests of the American people. As the last administration demonstrated, enforcement of those laws is not guaranteed unless Congress acts to prevent similar abuse in the future. Now is the time for decisive action in the House, where this bill can be passed with a simple majority vote, and an opportunity for Senate Majority Leader John Thune to put every member of that body on record before voters go to the polls in the fall,” Wilcox concluded.

Hayley Hill, hhill@fairus.org 202-328-7004

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SOURCE Federation for American Immigration Reform (FAIR)

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