Shivalik Bimetal seeks NOC for Solan Developers reclassification

Shivalik Bimetal Controls Limited has filed an application with BSE Limited and the National Stock Exchange of India Limited seeking a No Objection Certificate (NOC) regarding the reclassification of M/s Solan Developers Private Limited. The entity, currently part of the 'Promoter and Promoter Group', has requested a move to the 'Public' category. The company submitted the application to the stock exchanges on May 22, 2026, following the initial request received from Solan Developers on May 11, 2026.

Reclassification Details

The Board of Directors had previously reviewed the request from M/s Solan Developers Private Limited, which currently holds zero shareholding in the company. The reclassification is being pursued under the regulatory framework of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Parameter	Details
Entity Seeking Reclassification	M/s Solan Developers Private Limited
Current Category	Promoter and Promoter Group
Proposed Category	Public
Current Shareholding	Zero holding
Date of Reclassification Request	May 11, 2026
Date of Application to Exchanges	May 22, 2026
Regulatory Framework	Regulation 31A of SEBI (LODR) Regulations, 2015

Regulatory Status

The reclassification is subject to the receipt of the NOC from both BSE Limited and the National Stock Exchange of India Limited, along with any other necessary approvals. The disclosure was made in compliance with Regulation 30 read with Regulation 31A(8) of the SEBI LODR Regulations. The communication was digitally signed by Aarti Sahni, Company Secretary and Compliance Officer, on May 22, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.40%	+6.97%	+14.51%	+75.14%	+59.78%	+867.11%

Shivalik Bimetal Controls Limited has released its financial results for the quarter and year ended March 31, 2026. The company reported a 24.76% year-on-year increase in Profit After Tax (PAT) to ₹95.84 crore for FY26, compared to ₹76.82 crore in the previous year. Revenue from operations rose by 12.30% to ₹570.86 crore, up from ₹508.35 crore in FY25.

Financial Performance

The company’s EBITDA for the fiscal year stood at ₹130.72 crore, a growth of 26.03% from the previous year. The EBITDA margin improved to 22.90% from 20.40% in FY25. Earnings Per Share (EPS) for FY26 was recorded at 16.64. The balance sheet remains robust with a net worth of ₹481 crore and a net cash position of ₹105 crore against total debt of ₹59 crore.

Metric	FY26	FY25	YoY Change
Revenue from Operations (₹ Cr)	570.86	508.35	12.30%
PAT (₹ Cr)	95.84	76.82	24.76%
EBITDA (₹ Cr)	130.72	103.72	26.03%
EBITDA Margin (%)	22.90%	20.40%	250 bps
EPS	16.64	-	-

Operational Highlights

Shivalik Bimetal Controls operates across three primary segments: Shunt Resistors, Thermostatic Bimetals, and Electrical Contacts. In FY26, Shunt Resistors contributed 40.27% to the revenue mix with ₹230.68 crore, while Thermostatic Bimetals accounted for 40.37% with ₹231.25 crore. Electrical Contacts contributed 19.37% with revenue of ₹110.94 crore. The company reported an export share of 56.66% and a Return on Capital Employed (ROCE) of 25.7%.

Strategic Developments

The company continues to focus on its Pune R&D and CCS Project, established for higher value-added assemblies such as bus bar connectors and PCBA assembly. This facility aims to support the automotive and electrification sectors. Shivalik highlighted its competitive advantages, including in-house Electron Beam Welding (EBW) capabilities and a strong R&D intensity of 1%, which supports its position in the global market.