Cords Cable Industries EBITDA increased on 5.7% in 2015 and EBITDA Margin showed almost no change
31-05-2015 • About Cords Cable Industries (
$CORDSCABLE) • By InTwits
Cords Cable Industries reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is relatively stable: 10.3% in FY2015 vs. 9.8% in FY2014 vs. 9.1% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Cords Cable Industries ($CORDSCABLE) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 2,896 | 3,768 | 3,854 | 2,630 | 2,650 | 0.8% |
| EBITDA | 263 | 371 | 383 | 258 | 273 | 5.7% |
| Net Income | 54 | 54 | 61 | 20 | 27 | 32.8% |
Balance Sheet
|
|---|
| Cash | 96 | 122 | 161 | | | |
| Short Term Debt | | 479 | 482 | | | |
| Long Term Debt | 926 | 332 | 230 | | | |
Cash flow
|
|---|
| Capex | 420 | 51 | | | | |
Ratios
|
|---|
| Revenue growth | -6.1% | 30.1% | 2.3% | -31.8% | 0.8% | |
| EBITDA growth | 32.3% | 41.0% | 3.2% | -32.7% | 5.7% | |
| EBITDA Margin | 9.1% | 9.9% | 9.9% | 9.8% | 10.3% | 0.5% |
| Net Income Margin | 1.9% | 1.4% | 1.6% | 0.8% | 1.0% | 0.2% |
| CAPEX, % of revenue | 14.5% | 1.4% | | | | 0.0% |
| ROIC | 13.1% | 16.2% | 16.3% | | | 0.0% |
| ROE | 6.0% | 5.6% | 6.0% | | | 0.0% |
| Net Debt/EBITDA | 3.2x | 1.9x | 1.4x | 0.0x | 0.0x | 0.0x |
Revenue and profitability
Cords Cable Industries's Revenue increased slightly on 0.77% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased on 5.1 pp from 5.9% to 11.0% in FY2015.
Net Income marign showed almost no change in FY2015.
Appendix 1: Peers in Other Elect.Equip./ Prod.
Below we provide Cords Cable Industries benchmarking against other companies in Other Elect.Equip./ Prod. 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 |
|---|
| Indosolar ($INDOSOLAR) | | -85.0% | -34.7% | -71.0% | 1,797.0% |
| B.C. Power Controls ($BCP) | | 129.0% | -2.2% | 2.2% | 115.3% |
| Ece Industries ($ECEIND) | | 2.8% | -30.9% | -14.8% | 58.1% |
| Pitti Laminations ($PITTILAM) | | 60.4% | -23.9% | -19.4% | 35.9% |
| Genus Power Infrastructures ($GENUSPOWER) | | -1.2% | -7.5% | 17.4% | 19.5% |
| |
|---|
| Median (13 companies) | -0.4% | 12.9% | -2.6% | -3.6% | 10.6% |
|---|
| Cords Cable Industries ($CORDSCABLE) | | 30.1% | 2.3% | -31.8% | 0.8% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Malvica Engineering ($MALVICAE) | | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (1 company) | | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Fluidomat ($FLUIDOM) | | | | | 28.0% |
| Indosolar ($INDOSOLAR) | 5.8% | -114.4% | -52.7% | -140.0% | 16.3% |
| Genus Power Infrastructures ($GENUSPOWER) | 14.4% | 14.1% | 11.0% | 13.8% | 13.8% |
| Salzer Electronics ($SALZER) | 14.3% | 12.9% | 12.5% | 12.4% | 12.6% |
| Pitti Laminations ($PITTILAM) | 12.9% | 15.6% | 13.6% | 13.2% | 12.0% |
| |
|---|
| Median (16 companies) | 6.5% | 8.1% | 8.8% | 8.7% | 7.8% |
|---|
| Cords Cable Industries ($CORDSCABLE) | 9.1% | 9.9% | 9.9% | 9.8% | 10.3% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Indosolar ($INDOSOLAR) | 24.2% | 311.2% | 148.3% | 42.3% | 26.9% |
| Easun Reyrolle ($EASUNREYRL) | 19.3% | 26.5% | 30.7% | 19.4% | |
| Diamond Power Infrastructure ($DIAPOWER) | | | 6.8% | 8.4% | 8.7% |
| Salzer Electronics ($SALZER) | 5.7% | 6.8% | 5.6% | 4.1% | 8.2% |
| Birla Ericsson Optical ($BIRLAERIC) | 9.4% | 1.3% | 4.4% | 4.0% | 3.5% |
| |
|---|
| Median (9 companies) | 5.6% | 3.4% | 4.2% | 4.0% | 3.5% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Birla Ericsson Optical ($BIRLAERIC) | -6.6% | -2.2% | 8.2% | 27.3% | 16.6% |
| Salzer Electronics ($SALZER) | 14.6% | 14.6% | 12.7% | 13.0% | 14.6% |
| Genus Power Infrastructures ($GENUSPOWER) | 15.2% | 12.4% | 8.0% | 12.2% | 13.5% |
| Hbl Power Systems ($HBLPOWER) | 3.8% | 10.6% | 10.1% | 4.3% | 6.7% |
| Indosolar ($INDOSOLAR) | -2.7% | -14.0% | -6.8% | -5.2% | 2.2% |
| |
|---|
| Median (21 companies) | 8.2% | 8.9% | 8.1% | 9.7% | 4.5% |
|---|
| Cords Cable Industries ($CORDSCABLE) | 13.1% | 16.2% | 16.3% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Diamond Power Infrastructure ($DIAPOWER) | 2.5x | 3.3x | 5.2x | 4.8x | 46.8x |
| Indosolar ($INDOSOLAR) | 13.8x | | | | 20.3x |
| Hbl Power Systems ($HBLPOWER) | 8.6x | 4.1x | 4.4x | 6.8x | 4.7x |
| Salzer Electronics ($SALZER) | 2.1x | 1.9x | 2.2x | 2.6x | 2.7x |
| Genus Power Infrastructures ($GENUSPOWER) | 2.8x | 3.2x | 3.9x | 2.9x | 2.7x |
| |
|---|
| Median (13 companies) | 2.9x | 3.6x | 4.3x | 2.9x | 0.0x |
|---|
| Cords Cable Industries ($CORDSCABLE) | 3.2x | 1.9x | 1.4x | 0.0x | 0.0x |
