Aditya Birla Money reports 160% Net Income growth and 18.9 pp EBITDA Margin growth from -12.0% to 7.0%
04-05-2015 • About Aditya Birla Money (
$BIRLAMONEY) • By InTwits
Aditya Birla Money reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: Aditya Birla Money motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2011-FY2015 was 0.0%. On average EBITDA Margin was -1.7% for the sames years0.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Aditya Birla Money ($BIRLAMONEY) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 1,236 | 970 | 841 | 752 | 1,120 | 49.0% |
| EBITDA | 98 | -50 | -123 | -90 | 78 | |
| Net Income | -84 | -178 | -153 | -117 | 71 | |
Balance Sheet
|
|---|
| Cash | 291 | 236 | 879 | 488 | | -100.0% |
| Short Term Debt | 249 | 507 | 544 | 99 | | -100.0% |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 159 | 47 | | | | |
Ratios
|
|---|
| Revenue growth | 1.6% | -21.5% | -13.3% | -10.6% | 49.0% | |
| EBITDA growth | -67.7% | -150.5% | 146.5% | -26.6% | -186.7% | |
| EBITDA Margin | 8.0% | -5.1% | -14.6% | -12.0% | 7.0% | 18.9% |
| Net Income Margin | -6.8% | -18.4% | -18.2% | -15.6% | 6.3% | 21.9% |
| CAPEX, % of revenue | 12.9% | 4.8% | | | | 0.0% |
| ROE | -14.2% | -34.2% | -38.7% | -33.5% | | 33.5% |
| Net Debt/EBITDA | -0.4x | | | | 0.0x | 0.0x |
Revenue and profitability
The company's Revenue jumped on 49.0% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased slightly on 1.4 pp from 86.6% to 88.0% in FY2015.
Net Income marign jumped on 21.9 pp from -15.6% to 6.3% in FY2015.
Appendix 1: Peers in Other Financial Services
Below we provide Aditya Birla Money benchmarking against other companies in Other Financial Services industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Indiabulls Securities ($IBSEC) | | -48.1% | 0.1% | 58.0% | 31.6% |
| Intec Capital ($INTECCAP) | | | 42.5% | 34.2% | |
| Capital First ($CAPF) | -77.8% | 90.7% | 9.9% | 31.5% | |
| Centrum Capital ($CENTRUM) | -70.3% | 85.4% | -5.7% | 23.1% | |
| Crisil ($CRISIL) | 28.4% | 21.2% | 13.6% | 12.9% | |
| |
|---|
| Median (11 companies) | -45.8% | 10.3% | 9.9% | 12.2% | 31.6% |
|---|
| Aditya Birla Money ($BIRLAMONEY) | | -21.5% | -13.3% | -10.6% | 49.0% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Capital First ($CAPF) | 67.6% | 74.3% | 68.2% | 67.6% | |
| Intec Capital ($INTECCAP) | | 78.8% | 77.3% | 66.7% | |
| Indiabulls Securities ($IBSEC) | 32.7% | 16.2% | 36.2% | 60.8% | 64.4% |
| Jm Financial ($JMFINANCIL) | 56.3% | 56.3% | 61.9% | 60.3% | |
| Religare Enterprises ($RELIGARE) | 19.1% | 43.2% | 57.6% | 53.8% | |
| |
|---|
| Median (11 companies) | 36.0% | 36.4% | 40.9% | 43.8% | 64.4% |
|---|
| Aditya Birla Money ($BIRLAMONEY) | 8.0% | -5.1% | -14.6% | -12.0% | 7.0% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Icra ($ICRA) | 2.4% | 2.0% | 2.1% | 13.2% | |
| Jm Financial ($JMFINANCIL) | 1.0% | 0.9% | 0.9% | 11.2% | |
| Lkp Finance ($LKPFIN) | 1.2% | 3.6% | 1.6% | 3.9% | |
| Geojit Bnp Paribas Financial Services ($GEOJITBNPP) | 5.6% | 5.7% | 7.8% | 3.7% | |
| Indiabulls Securities ($IBSEC) | 1.0% | 8.1% | 1.8% | 1.8% | 1.1% |
| |
|---|
| Median (11 companies) | 2.1% | 3.6% | 1.6% | 1.7% | 1.1% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Crisil ($CRISIL) | 60.1% | 62.5% | 53.7% | 46.4% | |
| Icra ($ICRA) | 24.5% | 20.7% | 17.0% | 20.9% | |
| Multi Commodity Exchange Of India ($MCX) | 21.9% | 35.4% | 27.2% | 9.9% | |
| Religare Enterprises ($RELIGARE) | -2.7% | 2.0% | 3.4% | 2.7% | |
| Iris Mediaworks ($IRISMEDIA) | | -1.1% | -0.2% | -0.2% | |
| |
|---|
| Median (34 companies) | 21.9% | 5.4% | 10.2% | 9.9% | |
|---|
| Aditya Birla Money ($BIRLAMONEY) | | | | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Capital First ($CAPF) | 9.1x | 7.5x | 9.2x | 9.1x | |
| Religare Enterprises ($RELIGARE) | 20.2x | 9.2x | 6.1x | 7.0x | |
| Iris Mediaworks ($IRISMEDIA) | 0.6x | | 11.6x | 6.1x | |
| Jm Financial ($JMFINANCIL) | 6.6x | 6.4x | 6.4x | 4.8x | |
| Intec Capital ($INTECCAP) | | 5.1x | 4.9x | 4.6x | |
| |
|---|
| Median (22 companies) | 0.0x | -0.1x | 1.1x | 0.0x | 0.0x |
|---|
