Abc Bearings EBITDA jumped on 27.2% in 2015 and Revenue surged on 15.7%
05-05-2015 • About Abc Bearings (
$ABCBEARS) • By InTwits
Abc Bearings reported FY2015 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Abc Bearings ($ABCBEARS) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 2,034 | 1,769 | 1,495 | 1,395 | 1,615 | 15.7% |
| EBITDA | 459 | 293 | 193 | 169 | 216 | 27.2% |
| Net Income | 283 | 153 | 53 | 46 | 42 | -9.7% |
Balance Sheet
|
|---|
| Cash | 26 | 10 | 7 | 12 | | -100.0% |
| Short Term Debt | 113 | 357 | 417 | 220 | | -100.0% |
| Long Term Debt | 141 | 151 | 261 | 369 | | -100.0% |
Cash flow
|
|---|
| Capex | 435 | 418 | 426 | | | |
Ratios
|
|---|
| Revenue growth | 8.5% | -13.0% | -15.5% | -6.6% | 15.7% | |
| EBITDA growth | 65.0% | -36.3% | -34.1% | -12.1% | 27.2% | |
| EBITDA Margin | 22.6% | 16.5% | 12.9% | 12.1% | 13.3% | 1.2% |
| Net Income Margin | 13.9% | 8.7% | 3.5% | 3.3% | 2.6% | -0.7% |
| CAPEX, % of revenue | 21.4% | 23.6% | 28.5% | | | 0.0% |
| ROIC | 34.4% | 14.2% | 5.7% | 3.7% | | -3.7% |
| ROE | 28.0% | 13.3% | 4.4% | 3.8% | | -3.8% |
| Net Debt/EBITDA | 0.5x | 1.7x | 3.5x | 3.4x | 0.0x | -3.4x |
Revenue and profitability
Abc Bearings's Revenue jumped on 15.7% in FY2015. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin increased slightly on 1.2 pp from 12.1% to 13.3% in FY2015.
Net Income marign decreased slightly on 0.73 pp from 3.3% to 2.6% in FY2015.
Appendix 1: Peers in Industrial Machinery
Below we provide Abc Bearings benchmarking against other companies in Industrial Machinery 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 |
|---|
| Forbes & Company ($FORBESCO) | -66.3% | 22.4% | 13.0% | 53.4% | |
| Nitin Fire Protection Industries ($NITINFIRE) | -67.4% | 22.3% | 31.5% | 44.2% | |
| Gmm Pfaudler ($GMM) | -47.2% | -26.1% | 47.8% | 31.0% | |
| Kabra Extrusiontechnik ($KABRAEXTRU) | -32.6% | -13.3% | -8.7% | 28.4% | |
| Veejay Lakshmi Engineering Works ($VJLAXMIE) | 27.9% | -28.8% | 5.7% | 26.6% | |
| |
|---|
| Median (26 companies) | -34.3% | 20.1% | 2.3% | 4.0% | 2.8% |
|---|
| Abc Bearings ($ABCBEARS) | | -13.0% | -15.5% | -6.6% | 15.7% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Bell Agromachina ($BELAGRO) | | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (1 company) | | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Lokesh Machines ($LOKESHMACH) | 14.7% | 18.9% | 21.9% | 24.0% | |
| Wendt (India) ($WENDT) | 30.8% | 28.3% | 21.6% | 18.6% | 19.0% |
| Mazda ($MAZDALTD) | 14.4% | 14.5% | 16.2% | 15.0% | |
| Ksb Pumps ($KSBPUMPS) | 9.9% | 13.1% | 14.1% | 12.6% | |
| Gmm Pfaudler ($GMM) | 10.2% | -59.0% | 7.5% | 11.9% | |
| |
|---|
| Median (22 companies) | 13.5% | 10.7% | 9.4% | 10.0% | 15.9% |
|---|
| Abc Bearings ($ABCBEARS) | 22.6% | 16.5% | 12.9% | 12.1% | 13.3% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Lokesh Machines ($LOKESHMACH) | 18.5% | 22.1% | | 12.9% | |
| Elgi Equipments ($ELGIEQUIP) | 2.8% | 4.0% | 24.0% | 9.8% | |
| Wendt (India) ($WENDT) | 7.2% | 13.5% | 9.0% | 8.8% | 9.4% |
| Ksb Pumps ($KSBPUMPS) | 3.3% | 7.5% | 3.5% | 5.0% | |
| Honda Siel Power Products ($HONDAPOWER) | 4.3% | 6.7% | 8.0% | 3.7% | |
| |
|---|
| Median (20 companies) | 3.4% | 5.5% | 3.7% | 2.9% | 4.9% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Rexnord Electronics & Controls ($REXNORD) | 10.4% | | | 18.8% | |
| Gmm Pfaudler ($GMM) | 14.2% | -76.2% | 6.8% | 17.4% | |
| Greaves Cotton ($GREAVESCOT) | | | 24.8% | 16.3% | |
| Lakshmi Machine Works ($LAXMIMACH) | 16.8% | 18.0% | 11.7% | 16.2% | |
| Wendt (India) ($WENDT) | | 38.2% | 20.2% | 16.2% | 15.1% |
| |
|---|
| Median (51 companies) | 14.6% | 12.6% | 10.9% | 9.7% | 7.8% |
|---|
| Abc Bearings ($ABCBEARS) | 34.4% | 14.2% | 5.7% | 3.7% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Chemtech Industrial Valves ($CHEMTECH) | 7.7x | 6.4x | 5.3x | 8.8x | |
| Forbes & Company ($FORBESCO) | 3.5x | 2.2x | 3.3x | 4.7x | |
| Lokesh Machines ($LOKESHMACH) | 4.0x | 3.7x | 3.3x | 4.6x | |
| Elecon Engineering Co ($ELECON) | 3.1x | 3.0x | 3.2x | 4.0x | 3.1x |
| Lloyd Electric & Engineering ($LLOYDELENG) | 4.0x | 3.2x | 3.0x | 3.7x | |
| |
|---|
| Median (34 companies) | 1.3x | 0.6x | 1.5x | 0.0x | 0.8x |
|---|
| Abc Bearings ($ABCBEARS) | 0.5x | 1.7x | 3.5x | 3.4x | 0.0x |
