Jindal Photo reports 11.1% revenue decline in FY2015
30-05-2015 • About Jindal Photo (
$JINDALPHOT) • By InTwits
Jindal Photo reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Jindal Photo is a company in decline: FY2015 revenue growth was -11.1%, 5 years revenue CAGR was -3.5%
- EBITDA Margin is declining: in FY2015 vs. -4.9% in FY2014 vs. 6.1% in FY2011
- It operates with high leverage: Net Debt/EBITDA is 0.0x while industry average is
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Jindal Photo ($JINDALPHOT) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 3,999 | 4,034 | 4,700 | 3,306 | 2,939 | -11.1% |
| EBITDA | 244 | 245 | 117 | -162 | | |
| Net Income | 180 | 152 | -106 | -408 | -306 | |
Balance Sheet
|
|---|
| Cash | 100 | 316 | 482 | 159 | | -100.0% |
| Short Term Debt | 0 | 1,395 | 408 | 550 | | -100.0% |
| Long Term Debt | 0 | 18,277 | 33,608 | 42,595 | | -100.0% |
Cash flow
|
|---|
| Capex | 0 | 18,019 | 15,696 | 14,944 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 14.1% | 0.9% | 16.5% | -29.7% | -11.1% | |
| EBITDA growth | 41.4% | 0.5% | -52.1% | -238.3% | | |
| EBITDA Margin | 6.1% | 6.1% | 2.5% | -4.9% | 0.0% | 4.9% |
| Net Income Margin | 4.5% | 3.8% | -2.3% | -12.3% | -10.4% | 1.9% |
| CAPEX, % of revenue | 0.0% | 446.7% | 334.0% | 452.0% | | -452.0% |
| ROIC | 9.4% | 1.8% | 0.3% | -0.4% | | 0.4% |
| ROE | 8.0% | 6.2% | -4.2% | -17.1% | | 17.1% |
| Net Debt/EBITDA | -0.4x | 78.9x | 285.6x | | | 0.0x |
Revenue and profitability
Jindal Photo's Revenue dropped on 11.1% in FY2015.
Net Income marign increased slightly on 1.9 pp from -12.3% to -10.4% in FY2015.
Appendix 1: Peers in Photographic Products
Below we provide Jindal Photo benchmarking against other companies in Photographic 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 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Photoquip India ($PHOTOQUP) | -45.3% | 33.4% | -5.0% | 17.8% | |
| Choksi Imaging ($CHOKSI) | | 7.9% | 23.6% | -25.9% | -36.8% |
| |
|---|
| Median (2 companies) | -45.3% | 20.6% | 9.3% | -4.0% | -36.8% |
|---|
| Jindal Photo ($JINDALPHOT) | | 0.9% | 16.5% | -29.7% | -11.1% |
Top companies by EBITDA margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Choksi Imaging ($CHOKSI) | 5.3% | 3.1% | 1.1% | -2.4% | |
| |
|---|
| Median (1 company) | 7.7% | 5.2% | 1.2% | -2.4% | |
|---|
| Jindal Photo ($JINDALPHOT) | 6.1% | 6.1% | 2.5% | -4.9% | |
Top companies by ROIC, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Photoquip India ($PHOTOQUP) | 20.1% | | | | |
| Choksi Imaging ($CHOKSI) | 18.6% | 10.2% | 3.6% | | |
| |
|---|
| Median (2 companies) | 19.4% | 10.2% | 3.6% | | |
|---|
| Jindal Photo ($JINDALPHOT) | 9.4% | 1.8% | 0.3% | -0.4% | |
