Keltech Energies revenue started to decline in FY2015: dropped 11.9% vs. 3.3% growth a year earliner
17-05-2015 • About Keltech Energies (
$KELENRG) • By InTwits
Keltech Energies reported FY2015 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Keltech Energies ($KELENRG) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 1,114 | 1,785 | 1,546 | 1,540 | 1,916 | 24.4% |
| EBITDA | 42 | 100 | 97 | 124 | 117 | -5.8% |
| Net Income | 16 | 50 | 43 | 59 | 34 | -42.5% |
Balance Sheet
|
|---|
| Cash | 20 | 586 | 79 | 35 | | -100.0% |
| Short Term Debt | 17 | 15 | 44 | 35 | | -100.0% |
| Long Term Debt | 71 | 49 | 85 | 126 | | -100.0% |
Cash flow
|
|---|
| Capex | 82 | 43 | | | | |
Ratios
|
|---|
| Revenue growth | -50.1% | 60.2% | -13.4% | -0.4% | 24.4% | |
| EBITDA growth | -61.2% | 139.2% | -3.5% | 28.7% | -5.8% | |
| EBITDA Margin | 3.8% | 5.6% | 6.2% | 8.1% | 6.1% | -2.0% |
| Net Income Margin | 1.4% | 2.8% | 2.8% | 3.9% | 1.8% | -2.1% |
| CAPEX, % of revenue | 7.4% | 2.4% | | | | 0.0% |
| ROIC | 11.5% | 15.3% | 12.8% | 23.0% | | -23.0% |
| ROE | 8.3% | 10.4% | 8.2% | 19.1% | | -19.1% |
| Net Debt/EBITDA | 1.6x | -5.2x | 0.5x | 1.0x | 0.0x | -1.0x |
Revenue and profitability
Keltech Energies's Revenue jumped on 24.4% in FY2015. Revenue growth was financed by EBITDA margin decline. EBITDA Margin decreased slightly on 2.0 pp from 8.1% to 6.1% in FY2015.
Net Income marign decreased on 2.1 pp from 3.9% to 1.8% in FY2015.
Appendix 1: Peers in Specialty Chemicals
Below we provide Keltech Energies benchmarking against other companies in Specialty Chemicals 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 |
|---|
| Dai-Ichi Karkaria ($DAICHI) | | 20.7% | 31.4% | 45.4% | 22.8% |
| Dynemic Products ($DYNPRO) | -55.8% | 27.4% | -0.0% | 40.6% | |
| Camlin Fine Sciences ($CAMLINFIN) | | 95.3% | 11.4% | 36.1% | 9.8% |
| Sudarshan Chemical Industries ($SUDARSCHEM) | -49.4% | 10.5% | 9.1% | 28.2% | |
| Vinati Organics ($VINATIORGA) | | 38.7% | 23.6% | 25.9% | 10.9% |
| |
|---|
| Median (27 companies) | -49.8% | 19.8% | 14.1% | 13.7% | 9.8% |
|---|
| Keltech Energies ($KELENRG) | | 60.2% | -13.4% | -0.4% | 24.4% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Vinati Organics ($VINATIORGA) | 21.7% | 21.7% | 21.8% | 22.7% | 24.9% |
| Adi Finechem ($ADIFINCHM) | 18.2% | 15.1% | 14.0% | 22.1% | 16.5% |
| Solar Industries India ($SOLARINDS) | 18.1% | 18.5% | 17.5% | 17.9% | |
| Ultramarine & Pigments ($ULTRAMAR) | 20.1% | 18.0% | 15.5% | 17.4% | |
| Anil ($ANILLTD) | 17.4% | 18.1% | 16.9% | 17.1% | |
| |
|---|
| Median (25 companies) | 11.7% | 10.7% | 12.8% | 10.6% | 13.8% |
|---|
| Keltech Energies ($KELENRG) | 3.8% | 5.6% | 6.2% | 8.1% | 6.1% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Adi Finechem ($ADIFINCHM) | 8.2% | 7.3% | 4.8% | 12.6% | 16.9% |
| Solar Industries India ($SOLARINDS) | 14.2% | 13.0% | 9.9% | 12.3% | |
| Nitta Gelatin India ($NITTAGELA) | 21.3% | 8.8% | 4.6% | 8.5% | |
| Meghmani Organics ($MEGH) | 9.9% | 10.2% | 10.3% | 7.9% | |
| Camlin Fine Sciences ($CAMLINFIN) | 7.5% | 4.3% | 5.7% | 7.1% | 5.1% |
| |
|---|
| Median (19 companies) | 7.0% | 5.2% | 4.6% | 4.4% | 3.3% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Adi Finechem ($ADIFINCHM) | 27.6% | 30.6% | 29.8% | 46.4% | 26.3% |
| Vinati Organics ($VINATIORGA) | 31.4% | 29.6% | 26.2% | 30.6% | 34.8% |
| Pidilite Industries ($PIDILITIND) | 29.3% | 27.4% | 29.3% | 29.8% | |
| Camlin Fine Sciences ($CAMLINFIN) | 9.9% | 11.1% | 17.8% | 24.2% | 29.5% |
| Plastiblends India ($PLASTIBLEN) | 19.4% | 18.3% | 15.8% | 24.0% | |
| |
|---|
| Median (35 companies) | 15.5% | 14.7% | 15.0% | 11.2% | 26.3% |
|---|
| Keltech Energies ($KELENRG) | 11.5% | 15.3% | 12.8% | 23.0% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Cochin Minerals & Rutile ($COCHINM) | 0.7x | -0.0x | -0.0x | 32.3x | |
| Alkali Metals ($ALKALI) | 4.3x | | 5.1x | 11.6x | 0.0x |
| Kiri Industries ($KIRIINDUS) | 3.9x | 8.2x | 31.3x | 10.6x | |
| Vikas Globalone ($VIKASGLOB) | 0.0x | 2.5x | 4.4x | 4.9x | |
| Jayant Agro-Organics ($JAYAGROGN) | 3.9x | 2.8x | 3.1x | 4.6x | 6.5x |
| |
|---|
| Median (28 companies) | 1.3x | 1.5x | 1.7x | 1.7x | 0.7x |
|---|
| Keltech Energies ($KELENRG) | 1.6x | -5.2x | 0.5x | 1.0x | 0.0x |
