Eastern Gases revenue growth decelerated to 0.49% in FY2015 vs. 8.5% a year earliner
31-05-2015 • About Eastern Gases (
$EASTERNGAS) • By InTwits
Eastern Gases reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is declining: in FY2015 vs. in FY2014 vs. 3.8% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Eastern Gases ($EASTERNGAS) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 897 | 1,359 | 2,095 | 2,273 | 2,284 | 0.5% |
| EBITDA | 34 | 45 | 61 | | | |
| Net Income | 10 | 15 | 22 | 23 | 27 | 18.8% |
Balance Sheet
|
|---|
| Cash | 8 | 2 | 10 | | | |
| Short Term Debt | 111 | 101 | 185 | | | |
| Long Term Debt | 4 | 4 | 4 | | | |
Cash flow
|
|---|
| Capex | 8 | 25 | | | | |
Ratios
|
|---|
| Revenue growth | -65.7% | 51.5% | 54.1% | 8.5% | 0.5% | |
| EBITDA growth | 54.2% | 30.0% | 37.0% | | | |
| EBITDA Margin | 3.8% | 3.3% | 2.9% | 0.0% | 0.0% | 0.0% |
| Net Income Margin | 1.1% | 1.1% | 1.0% | 1.0% | 1.2% | 0.2% |
| CAPEX, % of revenue | 0.9% | 1.9% | | | | 0.0% |
| ROIC | 13.4% | 15.4% | 15.1% | | | 0.0% |
| ROE | 10.3% | 13.0% | 11.5% | | | 0.0% |
| Net Debt/EBITDA | 3.1x | 2.3x | 2.9x | | | 0.0x |
Revenue and profitability
The company's Revenue showed almost no change in FY2015.
Net Income marign showed almost no change in FY2015.
Appendix 1: Peers in Oil Marketing & Distribution
Below we provide Eastern Gases benchmarking against other companies in Oil Marketing & Distribution 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 |
|---|
| Sah Petroleums ($SAHPETRO) | | 31.3% | -13.1% | -3.3% | 0.9% |
| Indian Oil Corporation ($IOC) | | 31.8% | 13.1% | 5.8% | -8.0% |
| Gulf Oil Corporation ($GULFOILCOR) | | 12.0% | 2.3% | 3.0% | -70.0% |
| |
|---|
| Median (3 companies) | | 31.3% | 2.3% | 3.0% | -8.0% |
|---|
| Eastern Gases ($EASTERNGAS) | | 51.5% | 54.1% | 8.5% | 0.5% |
Top companies by EBITDA margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Gulf Oil Corporation ($GULFOILCOR) | 5.9% | 5.5% | 1.8% | 3.3% | 8.2% |
| Sah Petroleums ($SAHPETRO) | 5.4% | 5.7% | 3.5% | 3.8% | 3.5% |
| Indian Oil Corporation ($IOC) | 4.8% | 5.5% | 3.4% | 4.3% | 2.5% |
| |
|---|
| Median (3 companies) | 5.4% | 5.5% | 3.4% | 3.8% | 3.5% |
|---|
Top companies by CAPEX/Revenue, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Sah Petroleums ($SAHPETRO) | 1.1% | 0.4% | 0.2% | 0.2% | 3.9% |
| Indian Oil Corporation ($IOC) | 4.4% | 4.2% | 2.8% | 4.5% | 2.9% |
| Gulf Oil Corporation ($GULFOILCOR) | 1.0% | 0.9% | 1.0% | 4.1% | 1.9% |
| |
|---|
| Median (3 companies) | 1.1% | 0.9% | 1.0% | 4.1% | 2.9% |
|---|
Top companies by ROIC, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Sah Petroleums ($SAHPETRO) | 10.5% | 20.0% | 10.0% | 10.9% | 7.5% |
| Indian Oil Corporation ($IOC) | 8.2% | 12.7% | 6.4% | 8.7% | 3.9% |
| Gulf Oil Corporation ($GULFOILCOR) | 6.1% | 4.5% | 0.2% | 0.9% | 1.1% |
| |
|---|
| Median (3 companies) | 8.2% | 12.7% | 6.4% | 8.7% | 3.9% |
|---|
| Eastern Gases ($EASTERNGAS) | 13.4% | 15.4% | 15.1% | | |
Top companies by Net Debt / EBITDA
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Gulf Oil Corporation ($GULFOILCOR) | 3.0x | 4.1x | 87.8x | 32.5x | 41.5x |
| Indian Oil Corporation ($IOC) | 3.8x | 3.6x | 5.7x | 4.4x | 5.6x |
| Sah Petroleums ($SAHPETRO) | -0.7x | -0.5x | -0.8x | -1.0x | 1.9x |
| |
|---|
| Median (3 companies) | 3.0x | 3.6x | 5.7x | 4.4x | 5.6x |
|---|
