Sir Shadi Lal Enterprises revenue dropped on 14.8% in 2015 and EBITDA Margin decreased on 3.1 pp from -7.3% to -10.4%
29-05-2015 • About Sir Shadi Lal Enterprises (
$SSLEL) • By InTwits
Sir Shadi Lal Enterprises reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Sir Shadi Lal Enterprises is a company in decline: FY2015 revenue growth was -14.8%, 5 years revenue CAGR was -3.5%
- The company operates at negative EBITDA Margin: -10.4%
- Sir Shadi Lal Enterprises motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2011-FY2015 was 0.0%. On average EBITDA Margin was -4.6% for the sames years0
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Sir Shadi Lal Enterprises ($SSLEL) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 3,461 | 3,748 | 4,266 | 4,689 | 3,993 | -14.8% |
| EBITDA | -171 | -173 | 181 | -344 | -415 | |
| Net Income | -141 | -394 | -96 | -426 | -309 | |
Balance Sheet
|
|---|
| Cash | 93 | 49 | 169 | | 257 | |
| Short Term Debt | 1,568 | 2,067 | 1,875 | | 1,172 | |
| Long Term Debt | 541 | 198 | 208 | | 186 | |
Cash flow
|
|---|
| Capex | 51 | 13 | | | | |
Ratios
|
|---|
| Revenue growth | -27.4% | 8.3% | 13.8% | 9.9% | -14.8% | |
| EBITDA growth | -139.2% | 1.1% | -204.8% | -290.0% | 20.6% | |
| EBITDA Margin | -4.9% | -4.6% | 4.2% | -7.3% | -10.4% | -3.1% |
| Net Income Margin | -4.1% | -10.5% | -2.2% | -9.1% | -7.7% | 1.3% |
| CAPEX, % of revenue | 1.5% | 0.3% | | | | 0.0% |
| ROIC | -11.0% | -11.2% | 4.3% | | | 0.0% |
| ROE | -18.5% | -79.6% | -38.4% | | | 0.0% |
| Net Debt/EBITDA | | | 10.6x | | | 0.0x |
Revenue and profitability
Sir Shadi Lal Enterprises's Revenue dropped on 14.8% in FY2015. Revenue decline was worsened by EBITDA margin decline. EBITDA Margin decreased on 3.1 pp from -7.3% to -10.4% in FY2015.
Net Income marign increased slightly on 1.3 pp from -9.1% to -7.7% in FY2015.
Leverage (Debt)
Company's Net Debt / EBITDA is 1.6x and Debt / EBITDA is . Net Debt / EBITDA didn't change in FY2015. Debt surged while cash surged.
Appendix 1: Peers in Sugar
Below you can find Sir Shadi Lal Enterprises benchmarking vs. other companies in Sugar 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 |
|---|
| 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 ($RENUKA) | | | | 11.5% | -12.6% |
| |
|---|
| Median (7 companies) | -28.9% | 4.1% | 13.8% | 19.7% | -3.9% |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | | 8.3% | 13.8% | 9.9% | -14.8% |
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 ($DCMSRMIND) | 4.1% | 4.8% | 6.3% | 7.1% | |
| |
|---|
| Median (6 companies) | 9.4% | 9.2% | 14.2% | 8.8% | 2.8% |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | -4.9% | -4.6% | 4.2% | -7.3% | -10.4% |
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) | 3.0% | 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 ($UTTAMSUGAR) | 6.0% | -0.3% | 10.0% | 0.0% | |
| |
|---|
| Median (11 companies) | 5.0% | 5.4% | 7.0% | 3.9% | -8.8% |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | -11.0% | -11.2% | 4.3% | | |
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 | 5.3x | 4.2x | 3.2x | 6.9x |
|---|
