Naraingarh Sugar Mills revenue dropped on 33.3% in 2015
29-05-2015 • About Naraingarh Sugar Mills (
$NARSM) • By InTwits
Naraingarh Sugar Mills reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Naraingarh Sugar Mills is a company in decline: FY2015 revenue growth was -33.3%, 5 years revenue CAGR was -2.2%
- EBITDA Margin is declining: in FY2015 vs. in FY2014 vs. in FY2011
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Naraingarh Sugar Mills ($NARSM) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 948 | 822 | 1,202 | 1,713 | 1,143 | -33.3% |
| EBITDA | | 129 | 128 | | | |
| Net Income | 26 | 18 | 26 | 14 | -200 | -1,544.2% |
Balance Sheet
|
|---|
| Cash | | | 17 | | | |
| Short Term Debt | | 0 | 135 | | | |
| Long Term Debt | | 0 | 112 | | | |
Cash flow
|
|---|
Ratios
|
|---|
| Revenue growth | -25.7% | -13.3% | 46.2% | 42.5% | -33.3% | |
| EBITDA growth | | | -0.7% | | | |
| EBITDA Margin | 0.0% | 15.7% | 10.7% | 0.0% | 0.0% | 0.0% |
| Net Income Margin | 2.7% | 2.2% | 2.1% | 0.8% | -17.5% | -18.3% |
| Net Debt/EBITDA | | 0.0x | 1.8x | | | 0.0x |
Revenue and profitability
The company's Revenue dropped on 33.3% in FY2015.
Net Income marign dropped on 18.3 pp from 0.81% to -17.5% in FY2015.
Appendix 1: Peers in Sugar
Below we provide Naraingarh Sugar Mills benchmarking against other companies in Sugar 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 |
|---|
| K.M.Sugar Mills ($KMSUGAR) | | -11.3% | 7.0% | 48.3% | 36.1% |
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | | 54.1% | 25.4% | -14.5% | 10.6% |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | | 9.8% | 35.8% | 19.4% | -3.5% |
| Dcm Shriram Industries ($DCMSRMIND) | | 8.7% | 13.9% | 20.0% | -3.9% |
| Shree Renuka Sugars ($RENUKA) | | | | 11.5% | -12.6% |
| |
|---|
| Median (7 companies) | -28.9% | 8.5% | 13.7% | 15.5% | -3.9% |
|---|
| Naraingarh Sugar Mills ($NARSM) | | -13.3% | 46.2% | 42.5% | -33.3% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | 9.9% | 12.2% | 17.3% | 15.5% | -4.6% |
| K.M.Sugar Mills ($KMSUGAR) | 4.7% | 6.8% | | 10.1% | |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 9.8% | 11.6% | 15.0% | 9.1% | 9.9% |
| Shree Renuka Sugars ($RENUKA) | 14.5% | | 15.1% | 8.5% | 4.7% |
| Dcm Shriram Industries ($DCMSRMIND) | 4.1% | 4.8% | 6.3% | 7.1% | |
| |
|---|
| Median (7 companies) | 9.1% | 5.8% | 14.2% | 8.5% | 0.9% |
|---|
Top companies by CAPEX/Revenue, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 2.5% | 2.1% | 14.6% | 15.1% | 4.4% |
| Shree Renuka Sugars ($RENUKA) | | | 3.5% | 2.6% | 1.9% |
| Dcm Shriram Industries ($DCMSRMIND) | 3.4% | 2.4% | 2.7% | 2.1% | |
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | 2.2% | 1.3% | 1.6% | 0.4% | 3.5% |
| |
|---|
| Median (4 companies) | 2.8% | 2.0% | 3.5% | 2.4% | 3.5% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | 4.2% | 10.1% | 21.0% | 14.5% | -8.8% |
| Dcm Shriram Industries ($DCMSRMIND) | 2.7% | 4.0% | 7.3% | 11.2% | |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 0.9% | 3.6% | 6.0% | 4.4% | 4.7% |
| Rajshree Sugars & Chemicals ($RAJSREESUG) | 6.0% | 10.5% | 12.7% | 3.4% | |
| Uttam Sugar Mills ($UTTAMSUGAR) | 6.0% | -0.3% | 10.0% | 0.0% | |
| |
|---|
| Median (11 companies) | 4.2% | 4.0% | 6.6% | 3.9% | -8.8% |
|---|
| Naraingarh Sugar Mills ($NARSM) | | | | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Rajshree Sugars & Chemicals ($RAJSREESUG) | 7.8x | 5.3x | 4.2x | 9.4x | 0.0x |
| Shree Renuka Sugars ($RENUKA) | 6.6x | | 4.0x | 7.8x | 13.5x |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 9.5x | 7.5x | 5.1x | 7.1x | 6.9x |
| Dcm Shriram Industries ($DCMSRMIND) | 8.4x | 8.0x | 5.7x | 3.2x | |
| K.M.Sugar Mills ($KMSUGAR) | 5.9x | 3.7x | | 1.4x | |
| |
|---|
| Median (7 companies) | 7.8x | 6.4x | 5.1x | 3.2x | 6.9x |
|---|
