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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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China-Europe Youth Exchange Campaign: When Fashion Meets Football — A Green Pitch Appointment for Cross-Cultural Dialogue

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BEIJING, July 19, 2026 /PRNewswire/ — On July 18, in Rongjiang County, Guizhou Province, China, the much-anticipated Guizhou Village Super League staged several thrilling grassroots football matches, accompanied by a one-of-a-kind football culture creative showcase.

The showcase, themed Common Love, blended fashion runway elements with local music and dance, presenting 16 distinctive football-themed jersey designs. These featured Italian architectural graffiti, Brazilian color blocks, as well as motifs of the Great Wall, pandas, Chinese auspicious clouds, and ethnic patterns. The outfits were modeled by over 20 young people from diverse walks of life in Guizhou, while the designs themselves were contributed by more than 100 youth participants from over 20 countries and regions during the China-Europe Youth Exchange Campaign: When Fashion Meets Football.

Launched by the China Media Group, European and Latin American Languages Programming Center, the campaign took football as a shared global language. Through youth creative workshops and interactive exchanges, it encouraged young people worldwide to harness AIGC tools to design football jersey patterns, thereby deepening mutual understanding and strengthening friendship.

This initiative drew enthusiastic participation from youth across the globe, who engaged in online dialogues on sports culture and AI-driven creativity. Experts such as Ana Vasques, Executive President, IETI Artificial Intelligence & Creative Design branch; Giulio Cuomo, Professor of Video Production and AI at Accademia Italiana; and Dr. Zhang Youyu, Distinguished Research Fellow at Peking University, shared their insights based on the campaign’s outcomes. They emphasized that football has long transcended the realm of sport, evolving into a cultural symbol that embodies diverse civilizations. Meanwhile, the innovative application of artificial intelligence is opening new pathways for cross-cultural dialogue among global youth.

Video – https://www.youtube.com/watch?v=JhzZPHPk8IA

Photo – https://mma.prnewswire.com/media/3006669/20260719205937_131_59.jpg

View original content:https://www.prnewswire.co.uk/news-releases/china-europe-youth-exchange-campaign-when-fashion-meets-football–a-green-pitch-appointment-for-cross-cultural-dialogue-302829189.html

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Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation

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The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.

SAN ANTONIO, July 20, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.

Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.

The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.

By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.

Frost & Sullivan commends Singtel for setting a high standard in competitive strategy, execution, and customer value across multiple technology domains. By combining intelligent networking, secure digital infrastructure, AI-enabled operations, and cross-border IoT capabilities in an integrated platform strategy, the company is shaping the future of enterprise connectivity while helping organizations build resilient, future-ready digital ecosystems.

Each year, Frost & Sullivan presents its Company of the Year and Customer Value Leadership recognitions to organizations that demonstrate outstanding strategy development and implementation, resulting in measurable improvements in customer satisfaction, competitive positioning, and business performance. These recognitions honor forward-thinking companies that continuously raise industry standards through innovation, operational excellence, and long-term value creation.

Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Tarini Singh
E: Tarini.Singh@frost.com

 

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SOURCE Frost & Sullivan

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Foreign entrepreneurs find business opportunities and a home in Yiwu

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BEIJING, July 19, 2026 /PRNewswire/ — A report from People’s Daily:

Yiwu, a city in east China’s Zhejiang province, is neither a coastal hub nor a border town. Yet it has built a trade network that reaches across the globe. Today, the city is home to more than 10,000 foreign-invested businesses and around 38,000 foreign merchants who live and work there.

People’s Daily reporters recently visited Yiwu to meet foreign entrepreneurs who have built successful businesses and settled down in the city. They shared stories of growing alongside Yiwu and becoming part of its remarkable transformation.

“I wouldn’t be where I am today without Yiwu,” said Senegalese businessman Sourakhata Tirera, a sentiment he often expresses. He first came to Yiwu in 2003 to source hardware products and was immediately impressed by the Yiwu International Trade Market. He noted, “If you can’t find something here, it’s probably because you haven’t searched carefully enough.”

In 2007, Tirera opened a foreign trade agency in Yiwu. In 2012, leveraging Yiwu’s comprehensive foreign trade pilot reform project, he established a wholly foreign-owned trading company. Today, his company ships 200 to 300 containers every month, dealing in more than 1,000 product categories and providing one-stop sourcing services for clients across Africa.

“Everyone is fascinated by Yiwu because it’s a place full of opportunities. Things that once seemed impossible can become reality here,” Tirera told People’s Daily after he finished receiving a trade delegation from Gabon.

Yemeni businessman Maged Mohammed Ali Al-Huraibi came to Yiwu alone in 2008 to pursue his entrepreneurial dream and founded a cosmetics trading company. In 2024, Yiwu launched a one-stop entrepreneurship service for foreign talent, offering factory leasing, policy consultation, and talent recruitment. Seizing the opportunity, Al-Huraibi invested in a cosmetics factory early that year, successfully transitioning from trader to manufacturer.

“Yiwu made my entrepreneurial dream come true. Now I want to bring cosmetics made in Yiwu to even more countries and regions around the world,” Al-Huraibi said.

Yiwu’s success is not simply about gathering products. More importantly, it comes from the city’s ability to create what the market needs — pioneering new approaches where none exist and forging new paths through continuous exploration.

Nepalese businessman Khadka Raj Kumar first came to Yiwu in 2002. In 2011, Yiwu pioneered a dual-track system for representative offices and foreign-invested business entities, addressing challenges related to residency, employment and business operations for foreign entrepreneurs. The following year, Kumar established his own trading company in Yiwu and later bought a home there.

In 2013, Yiwu established China’s first people’s mediation committee dedicated to foreign-related disputes, inviting foreign businesspeople to serve as mediation processes. Kumar has served in this role since 2017 and has participated in resolving more than 150 foreign-related disputes.

“In Yiwu, we’re not outsiders — we’re part of the local community,” he said.

As Yiwu’s sixth-generation marketplace, the Yiwu Global Digital Trade Center marks the city’s transition from traditional trade to a digital trade ecosystem.

Pakistani businessman Sheikh Jamil, who has operated in Yiwu for 21 years, has witnessed this transformation firsthand. According to him, more and more business is now conducted online. With the help of AI, he can quickly generate product solutions tailored to different market demands. “I can do business with the whole world without leaving my office,” he said.

Yemeni businessman Hasan Mohammed entered Yiwu’s cosmetics business as a distributor a decade ago. In 2018, he registered his own cosmetics brand in Saudi Arabia. With its products registered in Saudi Arabia, manufactured in China and sold worldwide, his business model delivers both high-quality products and a strong competitive edge.

“Yiwu is more like an ecosystem where ideas can quickly become reality. It offers not only opportunities, but also the potential for continuous growth,” said Mohammed.

For Brazilian businesswoman Ana Garcia, Yiwu’s transformation from “Made in Yiwu” to “Created in Yiwu” has been fueled by broad support in branding, digital innovation and global expansion. She founded a business consultancy that helps overseas clients identify market opportunities and sourcing needs, connect with qualified suppliers, and manage every step of the supply chain — from product selection and quality inspection to logistics and customs clearance.

Yiwu belongs not only to China, but also to the world. Together with entrepreneurs from around the globe, the city will continue turning the impossible into the possible, further burnishing its reputation as the “world’s supermarket” and ensuring that products created in Yiwu benefit people in more countries.

View original content:https://www.prnewswire.com/apac/news-releases/foreign-entrepreneurs-find-business-opportunities-and-a-home-in-yiwu-302829158.html

SOURCE People’s Daily

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