Sel Manufacturing Company revenue dropped on 21.2% in 2015
30-05-2015 • About Sel Manufacturing Company (
$SELMCL) • By InTwits
Sel Manufacturing Company reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Sel Manufacturing Company is a company in decline: FY2015 revenue growth was -21.2%, 5 years revenue CAGR was -2.5%
- It operates with high leverage: Net Debt/EBITDA is 2.5x while industry average is 1.3x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Sel Manufacturing Company ($SELMCL) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 17,027 | 22,215 | 37,768 | 36,332 | 28,634 | -21.2% |
| SG&A | 571 | | | | | |
| EBITDA | 3,111 | 3,288 | 6,231 | 4,153 | | -100.0% |
| Net Income | 1,125 | 828 | 1,379 | -2,944 | -1,495 | |
Balance Sheet
|
|---|
| Cash | 592 | 858 | 1,345 | 203 | | -100.0% |
| Short Term Debt | 0 | 11,627 | 19,237 | 25,558 | | -100.0% |
| Long Term Debt | 18,061 | 20,259 | 23,316 | 22,374 | | -100.0% |
Cash flow
|
|---|
| Capex | 9,225 | 11,971 | 9,486 | 5,090 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -47.7% | 30.5% | 70.0% | -3.8% | -21.2% | |
| EBITDA growth | 64.5% | 5.7% | 89.5% | -33.3% | | |
| EBITDA Margin | 18.3% | 14.8% | 16.5% | 11.4% | 0.0% | -11.4% |
| Net Income Margin | 6.6% | 3.7% | 3.7% | -8.1% | -5.2% | 2.9% |
| SG&A, % of revenue | 3.4% | | | | | 0.0% |
| CAPEX, % of revenue | 54.2% | 53.9% | 25.1% | 14.0% | | -14.0% |
| ROIC | 11.3% | 6.8% | 8.9% | 2.5% | | -2.5% |
| ROE | 14.8% | 7.9% | 10.7% | -21.9% | | 21.9% |
| Net Debt/EBITDA | 5.6x | 9.4x | 6.6x | 11.5x | | -11.5x |
Revenue and profitability
Sel Manufacturing Company's Revenue dropped on 21.2% in FY2015.
Net Income marign increased on 2.9 pp from -8.1% to -5.2% in FY2015.
Appendix 1: Peers in Textiles
Below you can find Sel Manufacturing Company benchmarking vs. other companies in Textiles 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 |
|---|
| Santaram Spinners ($SANTASPN) | | 6.0% | 60.7% | -40.9% | 112.0% |
| Asahi Industries ($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 ($ZBINTXPP) | | -1.2% | -6.8% | 17.3% | 27.0% |
| |
|---|
| Median (63 companies) | -37.8% | 4.8% | 9.3% | 14.4% | -0.1% |
|---|
| Sel Manufacturing Company ($SELMCL) | | 30.5% | 70.0% | -3.8% | -21.2% |
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 ($PREMSYN) | | | | | 25.9% |
| |
|---|
| Median (74 companies) | 12.7% | 6.3% | 9.5% | 9.5% | 8.0% |
|---|
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Nitin Spinners ($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% | 3.0% | 5.3% | 6.7% | 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 ($ARVIND) | 9.9% | 11.3% | 11.2% | 13.7% | 13.2% |
| |
|---|
| Median (102 companies) | 10.1% | 3.5% | 9.3% | 9.6% | 9.0% |
|---|
| Sel Manufacturing Company ($SELMCL) | 11.3% | 6.8% | 8.9% | 2.5% | |
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 (63 companies) | 3.7x | 3.8x | 3.2x | 0.0x | 0.0x |
|---|
