Anand Rathi has issued a buy recommendation for Shivalik Bimetal Controls, setting a target price of Rs 785 per share. Currently, the market price of Shivalik Bimetal Controls Ltd. is Rs 629.
Company Overview:
Shivalik Bimetal Controls Ltd., established in 1984, is a Small Cap company with a market capitalization of Rs 3,596.81 crore, operating in the metals – ferrous sector. The company’s primary revenue source is the sale of services for the year ending March 31, 2023.
Financial Performance:
For the quarter ending March 31, 2024, Shivalik Bimetal reported a consolidated total income of Rs 141.74 crore. This represents an 11.10% increase from the previous quarter’s total income of Rs 127.58 crore and a 13.10% rise from the same quarter last year, which had a total income of Rs 125.32 crore. The company reported a net profit after tax of Rs 23.81 crore for the latest quarter.
Promoter and Investor Holdings:
As of March 31, 2024, promoters hold a 51.13% stake in the company. Foreign Institutional Investors (FIIs) own 3.26%, and Domestic Institutional Investors (DIIs) hold 1.89%.
Outlook:
Anand Rathi sees strong growth potential in Shivalik Bimetal Controls and has set a target price of Rs 785 per share.
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