Intrasoft Technologies revenue jumped on 131% in 2015 and EBITDA Margin increased on 3.0 pp from -1.3% to 1.7%
27-05-2015 • About Intrasoft Technologies (
$ISFT) • By InTwits
Intrasoft Technologies reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 1.7% in FY2015, -1.3% in FY2014, 8.4% in FY2013, 22.0% in FY2012, 30.6% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Intrasoft Technologies ($ISFT) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 477 | 663 | 882 | 1,484 | 3,429 | 131.1% |
| EBITDA | 146 | 146 | 74 | -19 | 59 | |
| Net Income | 101 | 110 | 31 | 21 | 60 | 189.6% |
Balance Sheet
|
|---|
| Cash | 29 | 53 | 36 | | 125 | |
| Short Term Debt | 45 | 258 | 282 | | 19 | |
| Long Term Debt | 64 | 1 | 0 | | 21 | |
Cash flow
|
|---|
| Capex | 156 | 373 | 211 | | 10 | |
Ratios
|
|---|
| Revenue growth | -88.4% | 39.1% | 33.1% | 68.2% | 131.1% | |
| EBITDA growth | 25.6% | -0.2% | -48.9% | -125.1% | -414.5% | |
| EBITDA Margin | 30.6% | 22.0% | 8.4% | -1.3% | 1.7% | 3.0% |
| Net Income Margin | 21.1% | 16.6% | 3.5% | 1.4% | 1.7% | 0.4% |
| CAPEX, % of revenue | 32.7% | 56.3% | 23.9% | | 0.3% | 0.3% |
| ROIC | 11.3% | 9.4% | 0.3% | | | 0.0% |
| ROE | 10.1% | 10.6% | 3.0% | | | 0.0% |
| Net Debt/EBITDA | 0.5x | 1.4x | 3.3x | | -1.4x | -1.4x |
Revenue and profitability
Intrasoft Technologies's Revenue surged on 131% in FY2015. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin increased on 3.0 pp from -1.3% to 1.7% in FY2015.
Net Income marign showed almost no change in FY2015.
Capital expenditures (CAPEX) and working capital investments
Intrasoft Technologies's CAPEX/Revenue was 0.30% in FY2015. CAPEX/Revenue dropped on 56.0 pp from 56.3% in FY2012 to 0.30% in FY2015.
Leverage (Debt)
Debt level is -1.4x Net Debt / EBITDA and 0.7x Debt / EBITDA. Net Debt / EBITDA dropped1.4x from to -1.4x in FY2015. Debt surged while cash jumped.
Valuation
The company's trades at EV/EBITDA 67.1x and P/E 67.6x while industy averages are 10.5x and 26.1x.
Appendix 1: Peers in Internet Software & Services
Below you can find Intrasoft Technologies benchmarking vs. other companies in Internet Software & Services 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 ROIC, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Scanpoint Geomatics ($SCANPGEOM) | 18.9% | 12.8% | | | |
| Aashee Infotech ($AASHEE) | | 0.7% | | | |
| United Interactive ($UNITEDINT) | | 3.5% | | | |
| Net 4 India ($NET4) | 21.0% | 24.3% | 16.4% | | |
| |
|---|
| Median (4 companies) | 20.0% | 8.2% | 16.4% | | |
|---|
| Intrasoft Technologies ($ISFT) | 11.3% | 9.4% | 0.3% | | |
