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Unique Organics reports 59.8% EBITDA decline and 1.1 pp EBITDA Margin decline from 2.2% to 1.1%

27-05-2015 • About Unique Organics ($UNIQUEO) • By InTwits

Unique Organics reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
  • Unique Organics is a company in decline: FY2015 revenue growth was -19.9%, 5 years revenue CAGR was -3.0%
  • EBITDA Margin is quite volatile: 1.1% in FY2015, 2.2% in FY2014, 2.2% in FY2013, -1.0% in FY2012, -2.4% in FY2011
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.

Unique Organics ($UNIQUEO) key annual financial indicators

mln. INR201120122013201420152015/2014
P&L
Revenue5861,1851,6022,4221,940-19.9%
EBITDA-14-12365321-59.8%
Net Income513194614-69.2%
Balance Sheet
Cash flow
Ratios
Revenue growth-74.0%102.1%35.2%51.2%-19.9%
EBITDA growth-299.2%-14.8%-400.7%48.1%-59.8%
EBITDA Margin-2.4%-1.0%2.2%2.2%1.1%-1.1%
Net Income Margin0.8%1.1%1.2%1.9%0.7%-1.2%

Revenue and profitability


The company's Revenue dropped on 19.9% in FY2015. Revenue decline was worsened by EBITDA margin decline. EBITDA Margin decreased slightly on 1.1 pp from 2.2% to 1.1% in FY2015.

Net Income marign decreased slightly on 1.2 pp from 1.9% to 0.72% in FY2015.


Appendix 1: Peers in Other Agricultural Products


Below we provide Unique Organics benchmarking against other companies in Other Agricultural Products 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
Kaveri Seed Company ($KSCL)59.4%91.2%42.0%14.8%
Freshtrop Fruits ($FRSHTRP)-57.2%14.7%43.8%29.1%
Olympic Oil Industries ($OLYOI)-98.4%1,600.6%160.6%21.1%
Kohinoor Foods ($KOHINOOR)-34.9%5.4%13.4%16.2%
Anik Industries ($ANIKINDS)-26.6%26.0%-21.3%14.6%
 
Median (9 companies)-57.2%26.0%16.2%14.6%7.0%
Unique Organics ($UNIQUEO)102.1%35.2%51.2%-19.9%


Top companies by Gross margin, %

Top  FY2011 FY2012 FY2013 FY2014 FY2015
Indrayani Biotech ($INDRANIB)0.0%0.0%0.0%0.0%
 
Median (1 company)0.0%0.0%0.0%0.0%


Top companies by EBITDA margin, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Avt Natural Products ($AVTNPL)17.3%37.6%30.8%25.9%
Kaveri Seed Company ($KSCL)23.0%20.7%19.6%21.9%26.7%
Kohinoor Foods ($KOHINOOR)12.7%4.7%10.9%11.2%
Freshtrop Fruits ($FRSHTRP)7.8%9.3%8.9%9.8%
Vikas Granaries ($VIKASGRAN)30.4%10.6%14.2%9.8%
 
Median (7 companies)10.3%7.6%8.9%9.8%17.4%
Unique Organics ($UNIQUEO)-2.4%-1.0%2.2%2.2%1.1%


Top companies by CAPEX/Revenue, %

Top  FY2011 FY2012 FY2013 FY2014 FY2015
Agro Tech Foods ($ATFL)4.2%4.1%6.0%6.3%5.6%
Avt Natural Products ($AVTNPL)2.0%2.3%5.0%3.3%
Kaveri Seed Company ($KSCL)5.4%2.9%5.9%2.5%7.1%
Kohinoor Foods ($KOHINOOR)3.7%1.6%1.5%1.0%
 
Median (4 companies)3.4%1.3%3.9%2.9%6.3%


Top companies by ROIC, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Kaveri Seed Company ($KSCL)21.0%27.5%41.1%46.8%45.9%
Avt Natural Products ($AVTNPL)19.1%58.2%41.5%32.8%
Agro Tech Foods ($ATFL)13.7%24.0%25.3%21.2%13.9%
Kohinoor Foods ($KOHINOOR)11.2%3.1%8.8%10.3%
Indrayani Biotech ($INDRANIB)0.0%0.0%0.0%0.0%
 
Median (13 companies)12.0%8.9%8.9%21.2%13.9%
Unique Organics ($UNIQUEO)


Top companies by Net Debt / EBITDA

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Kohinoor Foods ($KOHINOOR)7.7x19.2x7.8x6.1x
Agro Tech Foods ($ATFL)-1.6x-0.8x-0.2x0.1x0.3x
Freshtrop Fruits ($FRSHTRP)7.0x3.3x2.5x0.0x
Himalya International ($HIMIN)3.3x4.5x2.9x0.0x
Flex Foods ($FLEXFO)0.8x0.8x0.9x0.0x
 
Median (10 companies)3.0x3.3x2.4x0.0x0.1x
Unique Organics ($UNIQUEO)0.0x0.0x0.0x