Shivalik has been a major milestone in my investment career. The exceptional execution in last 3-4 years along with end use sectors tail-wind is expected to continue drive growth in medium term for the company. However, the company allocation has increased from 2% to 20% in my portfolio since last 2-3 months. While I continue to remain optimistic for long term business prospects, in FY24, my understanding from Q1FY24 Con call, in FY24, the business (sales) would be growing at around 15-20% and Net profit may be around 20-22%. This is my expectation and may be completely wrong. Based on that, the valuation appears rich and hence, after holding for almost 5 years, last week I decided to sell 20% of my holding. I continue to hold 80% of my original holding and remain optimistic about the prospect of the company.
Since I have been contributor to thread, I thought to keep members updated (Whatever it may worth 
).
The selling proceeds from Shivalik Bimetal has been reinvested in HCL (28%, Dividend yield with growth fitting in definition of dividend compounder which I have special respect), Akzo Noble (26%, again a dividend compounder), Jagran Prakashan (14%, a medium term trade with expectation of superior profit growth due to lower input cost, higher advertisement spending and recovery in Music India, a subsidiary performance), Jenburkt Pharma (11%, my old time favourites, nothing expectational in business, but have respect for promoter group integrity and like tortoise approach of management, slow and steady) and Premco Global (10% of proceeds, amazing company in my view with manufacturing capacities in India and Vietnam, two of the most important sourcing region in global textile chain with great customer relationships and superior capital allocation (now declaring quarterly dividend).
Disclosure: Shivalik Bimetal is my second largest holding. My view may be positively/negatively biased due to holding and recent sale respectively. I am not SEBI registered advisor. I am not recommending any investment action. I may buy/sell above mentioned stocks without informing forum. Investor shall do their own due diligence before making any investment decision.