Allahabad Bank reports 45.4% Net Income decline
08-05-2015 • About Allahabad Bank (
$ALBK) • By InTwits
Allahabad Bank reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: Allahabad Bank has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.8%..
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Allahabad Bank ($ALBK) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 123,998 | 168,315 | 190,263 | 210,498 | 218,735 | 3.9% |
| Net Income | 14,405 | 18,596 | 12,119 | 11,884 | 6,490 | -45.4% |
Balance Sheet
|
|---|
| Cash | 79,010 | 87,125 | 78,083 | 88,345 | 96,603 | 9.3% |
| Short Term Debt | 4,350 | 17,926 | 21,363 | 15,578 | 17,303 | 11.1% |
| Long Term Debt | 77,310 | 90,994 | 101,044 | 121,390 | 143,285 | 18.0% |
Cash flow
|
|---|
| Capex | 1,006 | 1,340 | 1,368 | 1,528 | 1,980 | 29.6% |
Ratios
|
|---|
| Revenue growth | -61.8% | 35.7% | 13.0% | 10.6% | 3.9% | |
| Net Income Margin | 11.6% | 11.0% | 6.4% | 5.6% | 3.0% | -2.7% |
| CAPEX, % of revenue | 0.8% | 0.8% | 0.7% | 0.7% | 0.9% | 0.2% |
| ROE | 18.4% | 19.1% | 10.9% | 10.1% | 5.2% | -4.9% |
Revenue and profitability
Allahabad Bank's Revenue increased on 3.9% in FY2015.
Net Income marign decreased on 2.7 pp from 5.6% to 3.0% in FY2015.
Capital expenditures (CAPEX) and working capital investments
In FY2015 Allahabad Bank had CAPEX/Revenue of 0.91%. The company's CAPEX/Revenue showed almost no change from FY2012 to FY2015. It's average level of CAPEX/Revenue for the last three years was 0.78%.
Leverage (Debt)
Debt jumped on 17.2% in FY2015 while cash increased on 9.3% in FY2015.
Appendix 1: Peers in Banks
Below you can find Allahabad Bank benchmarking vs. other companies in Banks 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 |
|---|
| Dcb Bank ($DCBBANK) | | 26.7% | 26.2% | 22.5% | 25.3% |
| Yes Bank ($YESBANK) | | 53.0% | 33.7% | 21.6% | 17.7% |
| Bank Of India ($BANKINDIA) | -66.6% | 30.3% | 12.4% | 18.1% | |
| Karur Vysya Bank ($KARURVYSYA) | | 45.9% | 29.7% | 16.5% | 11.0% |
| Union Bank Of India ($UNIONBANK) | -70.8% | 26.9% | 19.5% | 15.7% | |
| |
|---|
| Median (28 companies) | -55.8% | 28.5% | 16.2% | 10.6% | 10.8% |
|---|
| Allahabad Bank ($ALBK) | | 35.7% | 13.0% | 10.6% | 3.9% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kotak Mahindra Bank ($KOTAKBANK) | 1.3% | 1.4% | 1.4% | 2.6% | 1.4% |
| Karur Vysya Bank ($KARURVYSYA) | 4.2% | 2.0% | 2.9% | 2.5% | 1.7% |
| Dhanlaxmi Bank ($DHANBANK) | 6.8% | 3.0% | 1.7% | 2.2% | |
| Jammu & Kashmir Bank ($J&KBANK) | 5.6% | 1.4% | 1.3% | 2.2% | |
| Lakshmi Vilas Bank ($LAKSHVILAS) | 4.4% | 2.1% | 1.4% | 1.6% | 2.4% |
| |
|---|
| Median (27 companies) | 1.3% | 1.2% | 1.2% | 1.3% | 1.4% |
|---|
| Allahabad Bank ($ALBK) | 0.8% | 0.8% | 0.7% | 0.7% | 0.9% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Axis Bank ($AXISBANK) | 10.2% | 9.6% | 8.9% | 9.1% | 8.8% |
| Yes Bank ($YESBANK) | 11.8% | 9.8% | 8.4% | 8.4% | 8.7% |
| Karnataka Bank ($KTKBANK) | 5.5% | 6.8% | 10.2% | 7.7% | |
| Kotak Mahindra Bank ($KOTAKBANK) | 7.8% | 6.8% | 6.5% | 7.1% | 8.5% |
| Oriental Bank Of Commerce ($ORIENTBANK) | 12.4% | 7.6% | 7.4% | 6.7% | |
| |
|---|
| Median (28 companies) | 7.1% | 7.2% | 6.1% | 3.3% | 5.5% |
|---|
| Allahabad Bank ($ALBK) | | | | | |
