Santaram Spinners revenue jumped on 112% in 2015 and EBITDA Margin showed almost no change
30-05-2015 • About Santaram Spinners (
$SANTASPN) • By InTwits
Santaram Spinners reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 1.8% in FY2015, 2.3% in FY2014, 1.2% in FY2013, 0.7% in FY2012, 0.2% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Santaram Spinners ($SANTASPN) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 802 | 850 | 1,366 | 807 | 1,711 | 112.0% |
| EBITDA | 2 | 6 | 17 | 18 | 31 | 70.8% |
| Net Income | 2 | 1 | 3 | -0 | 2 | |
Balance Sheet
|
|---|
| Cash | | | 28 | | | |
| Short Term Debt | | | 117 | | | |
| Long Term Debt | | | 5 | | | |
Cash flow
|
|---|
Ratios
|
|---|
| Revenue growth | -59.4% | 6.0% | 60.7% | -40.9% | 112.0% | |
| EBITDA growth | -12.1% | 236.6% | 186.1% | 9.6% | 70.8% | |
| EBITDA Margin | 0.2% | 0.7% | 1.2% | 2.3% | 1.8% | -0.4% |
| Net Income Margin | 0.2% | 0.1% | 0.2% | -0.0% | 0.1% | 0.1% |
| Net Debt/EBITDA | 0.0x | 0.0x | 5.6x | 0.0x | 0.0x | 0.0x |
Revenue and profitability
Santaram Spinners's Revenue surged on 112% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased slightly on 1.7 pp from 3.8% to 5.6% in FY2015.
Net Income marign showed almost no change in FY2015.
Appendix 1: Peers in Textiles
Below we provide Santaram Spinners benchmarking against other companies in Textiles 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 |
|---|
| Asahi Industries ($ASAHIIND) | | 36.2% | 23.0% | 24.4% | 103.9% |
| Blue Chip Tex Industries ($BLUECHIPT) | | 303.8% | 12.9% | 29.9% | 56.1% |
| Jaybharat Textiles & Real Estate ($JAYTEX) | | 17.2% | -26.3% | 0.4% | 38.0% |
| Binayak Tex Processors ($ZBINTXPP) | | -1.2% | -6.8% | 17.3% | 27.0% |
| Nitin Spinners ($NITINSPIN) | | 4.2% | 4.1% | 9.5% | 26.2% |
| |
|---|
| Median (63 companies) | -37.8% | 4.8% | 9.3% | 14.4% | -0.5% |
|---|
| Santaram Spinners ($SANTASPN) | | 6.0% | 60.7% | -40.9% | 112.0% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Sil Investments ($SILINV) | | | | | 93.8% |
| Swadeshi Polytex ($SWADPOL) | | | | | 64.4% |
| Binny ($BINNY) | | | | | 60.9% |
| Ruby Mills ($RUBYMILLS) | 25.2% | 28.3% | 25.1% | 28.6% | 29.3% |
| Premier Synthetics ($PREMSYN) | | | | | 25.9% |
| |
|---|
| Median (73 companies) | 12.9% | 6.5% | 9.5% | 10.1% | 8.0% |
|---|
| Santaram Spinners ($SANTASPN) | 0.2% | 0.7% | 1.2% | 2.3% | 1.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Nitin Spinners ($NITINSPIN) | 0.2% | 1.9% | 2.6% | 8.0% | 42.3% |
| Maharaja Shree Umaid Mills ($MAHASHR) | 2.4% | 18.6% | 24.1% | 6.8% | 16.8% |
| SRF ($SRF) | 0.0% | 0.0% | 18.7% | 20.0% | 11.4% |
| Welspun India ($WELSPUNIND) | 11.3% | 5.6% | 7.8% | 16.4% | 10.9% |
| Sutlej Textiles & Industries ($SUTLEJTEX) | 2.3% | 3.4% | 1.8% | 5.6% | 10.7% |
| |
|---|
| Median (19 companies) | 4.5% | 3.2% | 5.6% | 6.8% | 6.7% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Welspun India ($WELSPUNIND) | 5.1% | 9.3% | 15.6% | 8.5% | 21.9% |
| Maharaja Shree Umaid Mills ($MAHASHR) | 9.9% | -0.5% | 9.2% | 8.3% | 20.4% |
| Nitin Spinners ($NITINSPIN) | 13.8% | 6.0% | 19.5% | 21.5% | 17.5% |
| Sutlej Textiles & Industries ($SUTLEJTEX) | 16.0% | 9.5% | 13.6% | 19.8% | 14.6% |
| Arvind ($ARVIND) | 9.9% | 11.3% | 11.2% | 13.7% | 13.2% |
| |
|---|
| Median (102 companies) | 10.1% | 3.5% | 9.2% | 9.2% | 9.0% |
|---|
| Santaram Spinners ($SANTASPN) | | | | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Bombay Rayon Fashions ($BRFL) | 5.9x | 4.9x | 4.9x | 11.6x | 10.0x |
| Ruby Mills ($RUBYMILLS) | 15.9x | 12.6x | 15.3x | 10.8x | 8.6x |
| Dcm ($DCM) | 3.1x | 13.5x | 3.5x | 3.7x | 5.5x |
| Rai Saheb Rekhchand Mohota Spg.& Wvg.Mills ($RAIREKMOH) | 6.1x | 10.0x | 0.0x | 0.0x | 4.6x |
| Raymond ($RAYMOND) | 3.3x | 3.7x | 4.6x | 3.7x | 4.1x |
| |
|---|
| Median (62 companies) | 3.9x | 3.8x | 3.2x | 0.0x | 0.0x |
|---|
| Santaram Spinners ($SANTASPN) | 0.0x | 0.0x | 5.6x | 0.0x | 0.0x |
