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Caprihans India EBITDA surged on 23.1% in 2015 and Revenue increased on 2.8%

24-05-2015 • About Caprihans India ($CAPRIHANS) • By InTwits

Caprihans India reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is relatively stable: 5.6% in FY2015 vs. 4.7% in FY2014 vs. 6.0% in FY2011.

Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.

Caprihans India ($CAPRIHANS) key annual financial indicators

mln. INR201120122013201420152015/2014
P&L
Revenue1,8731,9492,2062,4512,5202.8%
EBITDA11311113711414123.1%
Net Income747168537134.2%
Balance Sheet
Cash2618175
Short Term Debt000
Long Term Debt000
Cash flow
Capex117
Ratios
Revenue growth-36.2%4.1%13.2%11.1%2.8%
EBITDA growth-13.1%-1.6%23.3%-16.4%23.1%
EBITDA Margin6.0%5.7%6.2%4.7%5.6%0.9%
Net Income Margin4.0%3.7%3.1%2.1%2.8%0.7%
CAPEX, % of revenue0.6%0.3%0.0%
ROIC7.9%7.5%9.7%0.0%
ROE7.8%7.2%6.5%0.0%
Net Debt/EBITDA-0.2x-0.2x-1.3x0.0x0.0x0.0x

Revenue and profitability


Caprihans India's Revenue increased on 2.8% in FY2015. Revenue decline was accompanies by EBITDA margin decline. EBITDA Margin decreased slightly on 1.00 pp from 12.3% to 11.3% in FY2015.

Net Income marign increased slightly on 0.66 pp from 2.1% to 2.8% in FY2015.


Appendix 1: Peers in Plastic Products


Below you can find Caprihans India benchmarking vs. other companies in Plastic Products 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
Acrysil ($ACRYSIL)11.3%29.6%33.8%19.4%
Astral Poly Technik ($ASTRAL)41.6%41.7%41.6%30.8%
Shaily Engineering Plastics ($SHAILY)14.9%-16.0%23.3%19.2%
Wim Plast ($WIMPLAST)-63.9%27.5%23.1%19.5%
Jain Irrigation Systems ($JISLJALEQS)20.9%2.1%16.1%5.6%
 
Median (11 companies)-51.4%18.2%24.4%15.5%19.2%
Caprihans India ($CAPRIHANS)4.1%13.2%11.1%2.8%


Top companies by EBITDA margin, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Wim Plast ($WIMPLAST)18.5%18.1%17.9%18.1%
Acrysil ($ACRYSIL)19.2%12.4%16.8%17.5%19.5%
Shaily Engineering Plastics ($SHAILY)11.5%14.3%13.9%16.0%14.8%
Astral Poly Technik ($ASTRAL)13.5%14.2%14.2%14.8%
Jain Irrigation Systems ($JISLJALEQS)18.6%16.6%12.6%12.6%12.4%
 
Median (9 companies)12.3%12.9%12.1%12.6%14.8%
Caprihans India ($CAPRIHANS)6.0%5.7%6.2%4.7%5.6%


Top companies by CAPEX/Revenue, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Flexituff International ($FLEXITUFF)11.0%10.8%10.3%15.7%
Shaily Engineering Plastics ($SHAILY)1.9%3.7%10.7%17.2%
Acrysil ($ACRYSIL)21.2%7.8%11.0%9.6%9.3%
Astral Poly Technik ($ASTRAL)9.3%11.9%8.4%8.6%
Responsive Industries ($RESPONIND)18.7%14.7%10.3%6.9%
 
Median (8 companies)9.1%10.8%8.2%7.7%9.3%


Top companies by ROIC, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Astral Poly Technik ($ASTRAL)22.6%29.3%31.1%33.3%
Wim Plast ($WIMPLAST)31.0%31.8%31.2%31.0%
Acrysil ($ACRYSIL)7.7%16.2%20.2%21.0%
Shaily Engineering Plastics ($SHAILY)12.1%19.5%15.0%19.3%15.2%
Flexituff International ($FLEXITUFF)14.7%18.6%15.9%11.0%
 
Median (21 companies)12.8%10.2%11.8%15.1%15.2%
Caprihans India ($CAPRIHANS)7.9%7.5%9.7%


Top companies by Net Debt / EBITDA

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Jain Irrigation Systems ($JISLJALEQS)3.4x3.8x5.1x4.8x4.8x
Flexituff International ($FLEXITUFF)3.5x2.2x3.1x4.3x
Responsive Industries ($RESPONIND)1.9x3.3x2.9x2.4x
Acrysil ($ACRYSIL)1.9x2.9x2.2x2.0x2.7x
Shaily Engineering Plastics ($SHAILY)4.0x1.9x1.8x1.9x2.6x
 
Median (12 companies)2.4x2.2x2.3x0.8x2.7x
Caprihans India ($CAPRIHANS)-0.2x-0.2x-1.3x0.0x0.0x