Celebrity Fashions revenue dropped on 21.7% in 2015 while EBITDA Margin increased slightly on 1.7 pp from 3.8% to 5.6%
03-05-2015 • About Celebrity Fashions (
$CELEBRITY) • By InTwits
Celebrity Fashions reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Celebrity Fashions is a company in decline: FY2015 revenue growth was -21.7%, 5 years revenue CAGR was -2.8%
- EBITDA Margin is quite volatile: 5.6% in FY2015, 3.8% in FY2014, 1.9% in FY2013, 3.4% in FY2012, -1.9% in FY2011
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Celebrity Fashions ($CELEBRITY) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 1,885 | 1,904 | 1,740 | 2,353 | 1,843 | -21.7% |
| EBITDA | -35 | 64 | 33 | 90 | 103 | 14.0% |
| Net Income | -195 | -137 | -47 | 83 | -23 | -127.5% |
Balance Sheet
|
|---|
| Cash | 35 | 34 | 47 | | | |
| Short Term Debt | 302 | 262 | 331 | | | |
| Long Term Debt | 1,168 | 980 | 1,050 | | | |
Cash flow
|
|---|
| Capex | 17 | 9 | | | | |
Ratios
|
|---|
| Revenue growth | -11.1% | 1.0% | -8.6% | 35.2% | -21.7% | |
| EBITDA growth | -147.5% | -284.2% | -48.7% | 172.7% | 14.0% | |
| EBITDA Margin | -1.9% | 3.4% | 1.9% | 3.8% | 5.6% | 1.7% |
| Net Income Margin | -10.4% | -7.2% | -2.7% | 3.5% | -1.2% | -4.8% |
| CAPEX, % of revenue | 0.9% | 0.5% | | | | 0.0% |
| ROIC | -2.3% | 3.0% | -3.5% | | | 0.0% |
| Net Debt/EBITDA | | 18.8x | 40.4x | 0.0x | 0.0x | 0.0x |
Revenue and profitability
Celebrity Fashions's Revenue dropped on 21.7% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased slightly on 1.7 pp from 3.8% to 5.6% in FY2015.
Net Income marign decreased on 4.8 pp from 3.5% to -1.2% in FY2015.
Appendix 1: Peers in Other Apparels & Accessories
Below you can find Celebrity Fashions benchmarking vs. other companies in Other Apparels & Accessories industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Mini Diamonds (India) ($MINID) | -85.8% | 35.0% | 59.6% | 117.1% | |
| Page Industries ($PAGEIND) | -73.3% | 39.0% | 26.3% | 37.5% | |
| Bhartiya International ($BIL) | -71.6% | 28.4% | 20.9% | 36.7% | |
| Super Tannery ($SUPTANERY) | -30.0% | -1.4% | 0.3% | 34.6% | |
| Asian Star Co ($ASTAR) | -57.3% | 10.1% | 34.2% | 32.0% | |
| |
|---|
| Median (23 companies) | -30.0% | 10.4% | 19.5% | 14.1% | |
|---|
| Celebrity Fashions ($CELEBRITY) | | 1.0% | -8.6% | 35.2% | -21.7% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Page Industries ($PAGEIND) | 19.9% | 21.1% | 20.5% | 21.5% | |
| Rupa & Company ($RUPA) | 10.7% | 12.7% | 15.0% | 15.3% | |
| Zodiac Clothing Co ($ZODIACLOTH) | 11.0% | 9.3% | 8.8% | 10.8% | |
| Ashapura Intimates Fashion ($AIFL) | 8.9% | 9.5% | 10.5% | 10.7% | |
| Tara Jewels ($TARAJEWELS) | 8.5% | 9.2% | 9.1% | 9.2% | |
| |
|---|
| Median (18 companies) | 8.7% | 7.6% | 6.1% | 6.1% | |
|---|
| Celebrity Fashions ($CELEBRITY) | -1.9% | 3.4% | 1.9% | 3.8% | 5.6% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Page Industries ($PAGEIND) | 5.8% | 4.0% | 5.2% | 4.4% | |
| Zodiac Clothing Co ($ZODIACLOTH) | 9.3% | 5.7% | 3.9% | 4.0% | |
| Tara Jewels ($TARAJEWELS) | 1.8% | 1.6% | 1.3% | 3.1% | |
| Bhartiya International ($BIL) | 4.5% | 4.5% | 3.9% | 1.8% | |
| Rupa & Company ($RUPA) | 4.5% | 1.9% | 3.9% | 1.7% | |
| |
|---|
| Median (15 companies) | 1.9% | 1.8% | 1.3% | 1.1% | |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Page Industries ($PAGEIND) | 44.2% | 54.9% | 58.5% | 61.6% | |
| Oscar Global ($OSCARGLO) | | | 12.6% | 52.3% | |
| Virat Industries ($VIRAT) | 13.2% | 20.7% | 26.2% | 30.9% | |
| Rupa & Company ($RUPA) | 20.2% | 22.4% | 27.1% | 25.8% | |
| Ashapura Intimates Fashion ($AIFL) | 21.7% | 24.1% | 19.1% | 23.4% | |
| |
|---|
| Median (40 companies) | 10.4% | 10.1% | 7.2% | 10.9% | |
|---|
| Celebrity Fashions ($CELEBRITY) | -2.3% | 3.0% | -3.5% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Thangamayil Jewellery ($THANGAMAYL) | 2.2x | 2.2x | 2.6x | 11.9x | |
| Shrenuj & Co ($SHRENUJ) | 8.6x | 9.3x | 11.2x | 11.7x | |
| Pearl Global Industries ($PGIL) | 8.4x | 4.5x | 4.7x | 7.0x | |
| C. Mahendra Exports ($CMAHENDRA) | 4.1x | 4.5x | 4.9x | 6.0x | |
| Asian Star Co ($ASTAR) | 8.2x | 7.1x | 7.1x | 5.9x | |
| |
|---|
| Median (24 companies) | 2.7x | 2.2x | 2.7x | 0.3x | |
|---|
| Celebrity Fashions ($CELEBRITY) | | 18.8x | 40.4x | 0.0x | 0.0x |
