Manugraph India revenue dropped on 14.6% in 2015
29-05-2015 • About Manugraph India (
$MANUGRAPH) • By InTwits
Manugraph India reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Manugraph India is a company in decline: FY2015 revenue growth was -14.6%, 5 years revenue CAGR was -2.6%
- EBITDA Margin is declining: -2.3% in FY2015 vs. in FY2014 vs. 12.5% in FY2011
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Manugraph India ($MANUGRAPH) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 3,179 | 4,325 | 3,572 | 2,865 | 2,445 | -14.6% |
| EBITDA | 398 | 483 | 309 | | -57 | |
| Net Income | 190 | -266 | 110 | -80 | -99 | |
Balance Sheet
|
|---|
| Cash | 89 | 241 | 143 | | | |
| Short Term Debt | 332 | 156 | 178 | | | |
| Long Term Debt | 60 | 0 | | | | |
Cash flow
|
|---|
| Capex | 94 | | 44 | | | |
Ratios
|
|---|
| Revenue growth | 13.8% | 36.0% | -17.4% | -19.8% | -14.6% | |
| EBITDA growth | 208.4% | 21.5% | -36.0% | | | |
| EBITDA Margin | 12.5% | 11.2% | 8.7% | 0.0% | -2.3% | -2.3% |
| Net Income Margin | 6.0% | -6.1% | 3.1% | -2.8% | -4.1% | -1.3% |
| CAPEX, % of revenue | 2.9% | | 1.2% | | | 0.0% |
| ROIC | 10.6% | 21.3% | | | | 0.0% |
| ROE | 8.2% | -12.1% | 5.3% | | | 0.0% |
| Net Debt/EBITDA | 0.8x | -0.2x | 0.1x | | | 0.0x |
Revenue and profitability
The company's Revenue dropped on 14.6% in FY2015.
Net Income marign decreased slightly on 1.3 pp from -2.8% to -4.1% in FY2015.
Appendix 1: Peers in Industrial Machinery
Below you can find Manugraph India benchmarking vs. other companies in Industrial Machinery 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 |
|---|
| Lloyd Electric & Engineering ($LLOYDELENG) | | 32.2% | 9.9% | 20.5% | 22.3% |
| Kabra Extrusiontechnik ($KABRAEXTRU) | | -13.3% | -8.7% | 28.4% | 21.6% |
| Akar Tools ($AKARTOOL) | | 21.1% | 2.1% | -2.3% | 16.7% |
| Honda Siel Power Products ($HONDAPOWER) | | 28.1% | 2.4% | 5.0% | 16.5% |
| Abc Bearings ($ABCBEARS) | | -13.0% | -15.5% | -6.6% | 15.7% |
| |
|---|
| Median (21 companies) | -7.1% | 14.1% | 2.3% | 4.0% | 3.7% |
|---|
| Manugraph India ($MANUGRAPH) | | 36.0% | -17.4% | -19.8% | -14.6% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Bell Agromachina ($BELAGRO) | | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (1 company) | | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Texmaco Infrastructure & Holdings ($TEXINFRA) | | | | | 40.5% |
| Dhp India ($DHPIND) | | | | | 26.3% |
| Solitaire Machine Tools ($SOLIMAC) | | | | | 19.4% |
| Wendt (India) ($WENDT) | 30.8% | 28.3% | 21.6% | 18.6% | 19.0% |
| Goldstone Infratech ($GOLDINFRA) | | | | | 18.1% |
| |
|---|
| Median (35 companies) | 14.0% | 10.8% | 9.6% | 10.5% | 10.4% |
|---|
| Manugraph India ($MANUGRAPH) | 12.5% | 11.2% | 8.7% | | -2.3% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Texmaco Infrastructure & Holdings ($TEXINFRA) | | | | | 14.0% |
| Wendt (India) ($WENDT) | 7.2% | 13.5% | 9.0% | 8.8% | 9.4% |
| Ingersoll-Rand (India) ($INGERRAND) | 1.3% | 4.3% | 10.9% | 3.6% | 9.2% |
| Kabra Extrusiontechnik ($KABRAEXTRU) | 5.4% | 6.5% | 1.8% | 0.5% | 8.8% |
| Forbes & Company ($FORBESCO) | 2.8% | 1.8% | 2.6% | 3.0% | 5.1% |
| |
|---|
| Median (20 companies) | 3.9% | 5.6% | 4.1% | 2.9% | 3.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Rexnord Electronics & Controls ($REXNORD) | 10.4% | | | 18.8% | |
| Gmm Pfaudler ($GMM) | 14.2% | -76.2% | 6.8% | 17.4% | 18.2% |
| Greaves Cotton ($GREAVESCOT) | | | 24.8% | 16.3% | 26.7% |
| Lakshmi Machine Works ($LAXMIMACH) | 16.8% | 18.0% | 11.7% | 16.2% | 17.6% |
| Wendt (India) ($WENDT) | | 38.2% | 20.2% | 16.2% | 15.1% |
| |
|---|
| Median (51 companies) | 15.2% | 12.6% | 10.7% | 9.2% | 12.5% |
|---|
| Manugraph India ($MANUGRAPH) | 10.6% | 21.3% | | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Forbes & Company ($FORBESCO) | 3.5x | 2.2x | 3.3x | 4.7x | 6.3x |
| Nitin Fire Protection Industries ($NITINFIRE) | 2.0x | 3.6x | 3.5x | 3.0x | 3.7x |
| Elgi Equipments ($ELGIEQUIP) | -0.7x | -1.2x | 2.3x | 2.7x | 3.3x |
| Lloyd Electric & Engineering ($LLOYDELENG) | 4.0x | 3.2x | 3.0x | 3.7x | 3.2x |
| Elecon Engineering Co ($ELECON) | 3.1x | 3.0x | 3.2x | 4.0x | 3.1x |
| |
|---|
| Median (31 companies) | 1.3x | 1.1x | 1.7x | 0.0x | 0.0x |
|---|
