Orbit Corporation revenue returned to growth in FY2015: increased 275% vs. 88.0% decline a year earliner
31-05-2015 • About Orbit Corporation (
$ORBITCORP) • By InTwits
Orbit Corporation reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 69.8% in FY2015, -127.2% in FY2014, 53.3% in FY2013, 42.4% in FY2012, 54.1% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Orbit Corporation ($ORBITCORP) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 3,991 | 3,826 | 2,990 | 360 | 1,351 | 275.1% |
| EBITDA | 2,161 | 1,622 | 1,592 | -458 | 943 | |
| Net Income | 783 | 117 | 75 | -1,562 | -1,016 | |
Balance Sheet
|
|---|
| Cash | 220 | 723 | 85 | 69 | | -100.0% |
| Short Term Debt | 0 | 958 | 4,751 | 6,245 | | -100.0% |
| Long Term Debt | 10,038 | 2,438 | 4,367 | 4,252 | | -100.0% |
Cash flow
|
|---|
| Capex | 94 | 15 | 14 | 23 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 159.0% | -4.2% | -21.9% | -88.0% | 275.1% | |
| EBITDA growth | 14.2% | -24.9% | -1.8% | -128.8% | -305.8% | |
| EBITDA Margin | 54.1% | 42.4% | 53.3% | -127.2% | 69.8% | 197.0% |
| Net Income Margin | 19.6% | 3.1% | 2.5% | -433.9% | -75.2% | 358.7% |
| CAPEX, % of revenue | 2.4% | 0.4% | 0.5% | 6.5% | | -6.5% |
| ROIC | 10.8% | 8.3% | 8.1% | -2.4% | | 2.4% |
| ROE | 8.7% | 1.2% | 0.7% | -16.0% | | 16.0% |
| Net Debt/EBITDA | 4.5x | 1.6x | 5.7x | | 0.0x | 0.0x |
Revenue and profitability
Orbit Corporation's Revenue surged on 275% in FY2015. Despite revenue decline the EBITDA margin expanded. EBITDA Margin increased slightly on 1.9 pp from 21.6% to 23.5% in FY2015.
Net Income marign jumped on 359 pp from -434% to -75.2% in FY2015.
Appendix 1: Peers in Realty
Below you can find Orbit Corporation benchmarking vs. other companies in Realty 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 |
|---|
| Sspdl ($SSPDL) | | 16.2% | -11.8% | -43.4% | 326.1% |
| Ajmera Realty & Infra India ($AJMERA) | | 21.3% | -61.7% | -1.8% | 109.9% |
| Prajay Engineers Syndicate ($PRAENG) | | -21.1% | 42.0% | -30.1% | 62.8% |
| Godrej Properties ($GODREJPROP) | | 70.6% | 34.7% | 13.7% | 56.3% |
| Poddar Developers ($PODDARDEV) | | -18.4% | 63.9% | 152.9% | 56.0% |
| |
|---|
| Median (34 companies) | | 0.6% | 5.6% | -1.8% | 11.4% |
|---|
| Orbit Corporation ($ORBITCORP) | | -4.2% | -21.9% | -88.0% | 275.1% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Godrej Properties ($GODREJPROP) | 28.2% | 24.9% | 33.3% | 28.9% | 19.4% |
| |
|---|
| Median (1 company) | 28.2% | 24.9% | 33.3% | 28.9% | 19.4% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Hubtown ($HUBTOWN) | 51.6% | 53.3% | 72.4% | 67.6% | 82.4% |
| Housing Development & Infrastructure ($HDIL) | 83.7% | 75.8% | 40.6% | 102.5% | 78.9% |
| Tci Developers ($TCIDEVELOP) | | | | | 75.9% |
| Oberoi Realty ($OBEROIRLTY) | 58.7% | 59.3% | 58.9% | 54.5% | 56.4% |
| The Phoenix Mills ($PHOENIXLTD) | 71.8% | 54.7% | 56.2% | 46.9% | 46.2% |
| |
|---|
| Median (41 companies) | 23.3% | 19.4% | 13.4% | 20.1% | 22.6% |
|---|
| Orbit Corporation ($ORBITCORP) | 54.1% | 42.4% | 53.3% | -127.2% | 69.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Prozone Intu Properties ($PROZONINTU) | | | | | 89.5% |
| Ashiana Housing ($ASHIANA) | | | | | 26.7% |
| Brigade Enterprises ($BRIGADE) | 42.6% | 45.7% | 10.7% | 17.0% | 18.5% |
| Prestige Estates Projects ($PRESTIGE) | 23.3% | 37.7% | 30.2% | 18.8% | 11.6% |
| Parsvnath Developers ($PARSVNATH) | 19.9% | 15.9% | | 11.6% | 10.6% |
| |
|---|
| Median (31 companies) | 5.5% | 4.9% | 2.6% | 3.5% | 2.4% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Ahluwalia Contracts (India) ($AHLUCONT) | 29.7% | -3.2% | -15.8% | 5.6% | 21.2% |
| Poddar Developers ($PODDARDEV) | 4.1% | 3.9% | 2.6% | 12.9% | 19.1% |
| Lancor Holdings ($LANCORHOL) | 38.2% | 18.0% | 11.6% | 19.5% | 17.7% |
| Mahindra Lifespace Developers ($MAHLIFE) | 10.5% | 10.4% | 11.7% | 6.6% | 14.9% |
| Sobha Developers ($SOBHA) | 12.4% | 18.8% | 16.7% | 14.6% | 12.7% |
| |
|---|
| Median (48 companies) | 9.2% | 5.7% | 4.6% | 5.7% | 6.8% |
|---|
| Orbit Corporation ($ORBITCORP) | 10.8% | 8.3% | 8.1% | -2.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| D B Realty ($DBREALTY) | 1.1x | 13.2x | 135.4x | 14.0x | 54.8x |
| B.L.Kashyap And Sons ($BLKASHYAP) | 3.8x | 8.2x | 5.8x | 12.7x | 40.1x |
| Vipul ($VIPUL) | 50.6x | 0.7x | 3.0x | 10.8x | 26.0x |
| Ansal Properties & Infrastructure ($ANSALAPI) | 3.1x | 12.8x | 11.9x | 11.4x | 16.6x |
| Srs Real Infrastructure ($SRSREAL) | 20.3x | 11.7x | 10.0x | 12.9x | 14.7x |
| |
|---|
| Median (35 companies) | 3.8x | 5.3x | 4.8x | 5.0x | 4.0x |
|---|
| Orbit Corporation ($ORBITCORP) | 4.5x | 1.6x | 5.7x | | 0.0x |
