Photoquip India revenue growth decelerated to 10.2% in FY2015 vs. 17.8% a year earliner
31-05-2015 • About Photoquip India (
$PHOTOQUP) • By InTwits
Photoquip India reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is declining: -2.5% in FY2015 vs. in FY2014 vs. 10.2% in FY2011
- It operates with high leverage: Net Debt/EBITDA is 2.1x while industry average is
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Photoquip India ($PHOTOQUP) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 612 | 817 | 776 | 914 | 1,007 | 10.2% |
| EBITDA | 63 | 59 | 10 | | -25 | |
| Net Income | 46 | 43 | -3 | -27 | -30 | |
Balance Sheet
|
|---|
| Cash | 9 | | 47 | | | |
| Short Term Debt | 18 | | 92 | | | |
| Long Term Debt | 11 | | 60 | | | |
Cash flow
|
|---|
| Capex | 5 | | | | | |
Ratios
|
|---|
| Revenue growth | -45.3% | 33.4% | -5.0% | 17.8% | 10.2% | |
| EBITDA growth | 33.2% | -5.0% | -82.4% | | | |
| EBITDA Margin | 10.2% | 7.3% | 1.3% | 0.0% | -2.5% | -2.5% |
| Net Income Margin | 7.6% | 5.3% | -0.4% | -3.0% | -2.9% | 0.0% |
| CAPEX, % of revenue | 0.8% | | | | | 0.0% |
| ROIC | 20.1% | | | | | 0.0% |
| ROE | 18.1% | | | | | 0.0% |
| Net Debt/EBITDA | 0.3x | 0.0x | 10.0x | | | 0.0x |
Revenue and profitability
The company's Revenue surged on 10.2% in FY2015.
Net Income marign showed almost no change in FY2015.
Appendix 1: Peers in Photographic Products
Below we provide Photoquip India benchmarking against other companies in Photographic Products 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 |
|---|
| Jindal Photo ($JINDALPHOT) | | 0.9% | 16.5% | -29.7% | -11.1% |
| Choksi Imaging ($CHOKSI) | | 7.9% | 23.6% | -25.9% | -36.8% |
| |
|---|
| Median (2 companies) | | 4.4% | 20.0% | -27.8% | -24.0% |
|---|
| Photoquip India ($PHOTOQUP) | | 33.4% | -5.0% | 17.8% | 10.2% |
Top companies by EBITDA margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Choksi Imaging ($CHOKSI) | 5.3% | 3.1% | 1.1% | -2.4% | |
| Jindal Photo ($JINDALPHOT) | 6.1% | 6.1% | 2.5% | -4.9% | |
| |
|---|
| Median (2 companies) | 5.7% | 4.6% | 1.8% | -3.6% | |
|---|
Top companies by CAPEX/Revenue, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Jindal Photo ($JINDALPHOT) | 0.0% | 446.7% | 334.0% | 452.0% | |
| |
|---|
| Median (1 company) | 0.5% | 224.1% | 334.0% | 452.0% | |
|---|
Top companies by ROIC, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Choksi Imaging ($CHOKSI) | 18.6% | 10.2% | 3.6% | | |
| Jindal Photo ($JINDALPHOT) | 9.4% | 1.8% | 0.3% | -0.4% | |
| |
|---|
| Median (2 companies) | 14.0% | 6.0% | 2.0% | -0.4% | |
|---|
| Photoquip India ($PHOTOQUP) | 20.1% | | | | |
