Autoline Industries EBITDA dropped on 123% in 2015 and Revenue dropped on 25.2%
27-05-2015 • About Autoline Industries (
$AUTOIND) • By InTwits
Autoline Industries reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Autoline Industries is a company in decline: FY2015 revenue growth was -25.2%, 5 years revenue CAGR was -3.0%
- EBITDA Margin is declining: -1.0% in FY2015 vs. 3.2% in FY2014 vs. 11.0% in FY2011
- EBITDA Margin is quite volatile: -1.0% in FY2015, 3.2% in FY2014, 7.2% in FY2013, 11.1% in FY2012, 11.0% in FY2011
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Autoline Industries ($AUTOIND) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 6,511 | 6,930 | 8,007 | 6,771 | 5,067 | -25.2% |
| EBITDA | 719 | 767 | 580 | 219 | -50 | -123.0% |
| Net Income | 273 | 397 | 109 | -398 | -569 | |
Balance Sheet
|
|---|
| Cash | 29 | 11 | 147 | 50 | | -100.0% |
| Short Term Debt | 1,086 | 1,450 | 1,571 | 2,086 | | -100.0% |
| Long Term Debt | 1,190 | 1,005 | 890 | 593 | | -100.0% |
Cash flow
|
|---|
| Capex | 648 | 59 | | | | |
Ratios
|
|---|
| Revenue growth | 10.1% | 6.4% | 15.5% | -15.4% | -25.2% | |
| EBITDA growth | 35.6% | 6.7% | -24.4% | -62.2% | -123.0% | |
| EBITDA Margin | 11.0% | 11.1% | 7.2% | 3.2% | -1.0% | -4.2% |
| Net Income Margin | 4.2% | 5.7% | 1.4% | -5.9% | -11.2% | -5.4% |
| CAPEX, % of revenue | 10.0% | 0.8% | | | | 0.0% |
| ROIC | 10.7% | 10.1% | 6.1% | -0.5% | | 0.5% |
| ROE | 11.6% | 15.5% | 4.0% | -14.2% | | 14.2% |
| Net Debt/EBITDA | 3.1x | 3.2x | 4.0x | 12.0x | | -12.0x |
Revenue and profitability
The company's Revenue dropped on 25.2% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased slightly on 1.9 pp from -2.5% to -0.61% in FY2015.
Net Income marign decreased on 5.4 pp from -5.9% to -11.2% in FY2015.
Appendix 1: Peers in Auto Parts & Equipment
Below you can find Autoline Industries benchmarking vs. other companies in Auto Parts & Equipment 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 |
|---|
| Exide Industries ($EXIDEIND) | | 11.5% | 19.7% | 30.6% | 14.8% |
| Motherson Sumi Systems ($MOTHERSUMI) | | 79.1% | 71.3% | 20.2% | 14.0% |
| Fiem Industries ($FIEMIND) | -54.4% | 25.2% | 13.4% | 18.7% | |
| Suprajit Engineering ($SUPRAJIT) | -53.1% | 22.2% | 9.4% | 17.9% | |
| Amara Raja Batteries ($AMARAJABAT) | -66.9% | 34.3% | 25.1% | 16.1% | |
| |
|---|
| Median (35 companies) | -35.4% | 17.2% | 2.4% | 5.0% | 8.3% |
|---|
| Autoline Industries ($AUTOIND) | | 6.4% | 15.5% | -15.4% | -25.2% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Tube Investments Of India ($TUBEINVEST) | 33.7% | 18.4% | 24.4% | 28.3% | 30.0% |
| Shivam Autotech ($SHIVAMAUTO) | 23.2% | 24.1% | 24.1% | 20.6% | 18.7% |
| Amtek Auto ($AMTEKAUTO) | | 25.1% | | 20.7% | 14.8% |
| Triton Valves ($TRITONV) | 12.3% | 9.8% | 11.3% | 11.3% | 14.2% |
| Sona Koyo Steering Systems ($SONASTEER) | 13.0% | 13.2% | 11.3% | 12.2% | 13.9% |
| |
|---|
| Median (28 companies) | 10.8% | 10.8% | 9.9% | 10.8% | 10.3% |
|---|
| Autoline Industries ($AUTOIND) | 11.0% | 11.1% | 7.2% | 3.2% | -1.0% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Amtek Auto ($AMTEKAUTO) | | 18.9% | | 27.1% | 30.3% |
| Amara Raja Batteries ($AMARAJABAT) | 2.9% | 3.7% | 2.5% | 10.9% | |
| Subros ($SUBROS) | 11.6% | 16.6% | 10.7% | 9.3% | 7.9% |
| Lumax Auto Technologies ($LUMAXTECH) | 3.7% | 5.1% | 7.3% | 7.8% | 3.8% |
| Sona Koyo Steering Systems ($SONASTEER) | 5.9% | 9.8% | 6.6% | 7.1% | 5.3% |
| |
|---|
| Median (25 companies) | 7.6% | 5.8% | 4.6% | 4.9% | 3.8% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Amara Raja Batteries ($AMARAJABAT) | 30.5% | 32.1% | 34.5% | 30.3% | |
| Exide Industries ($EXIDEIND) | 34.2% | 24.2% | 24.3% | 29.5% | 26.9% |
| Suprajit Engineering ($SUPRAJIT) | 32.4% | 31.8% | 28.0% | 26.1% | |
| Motherson Sumi Systems ($MOTHERSUMI) | 23.7% | 13.5% | 16.5% | 25.0% | 24.9% |
| Munjal Showa ($MUNJALSHOW) | 18.8% | 29.9% | 23.8% | 22.5% | 24.9% |
| |
|---|
| Median (48 companies) | 16.5% | 16.4% | 12.7% | 14.5% | 12.3% |
|---|
| Autoline Industries ($AUTOIND) | 10.7% | 10.1% | 6.1% | -0.5% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Tube Investments Of India ($TUBEINVEST) | 8.1x | 17.6x | 17.8x | 17.3x | 16.4x |
| Reil Electricals India ($REILELEC) | -0.1x | -0.0x | 1.5x | 9.1x | |
| Steel Strips Wheels ($SSWL) | 4.6x | 5.4x | 6.3x | 6.5x | 5.6x |
| Automotive Stampings & Assemblies ($ASAL) | 1.8x | 1.1x | 3.9x | 6.3x | |
| Ucal Fuel Systems ($UCALFUEL) | 4.1x | 4.3x | 5.6x | 5.7x | |
| |
|---|
| Median (44 companies) | 2.1x | 1.2x | 1.8x | 0.7x | 0.4x |
|---|
| Autoline Industries ($AUTOIND) | 3.1x | 3.2x | 4.0x | 12.0x | |
