Shiva Texyarn EBITDA Margin dropped on 14.4 pp from 14.4% to in 2015
31-05-2015 • About Shiva Texyarn (
$SHIVTEX) • By InTwits
Shiva Texyarn reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: Shiva Texyarn is a company in decline: FY2015 revenue growth was -9.3%, 5 years revenue CAGR was -3.6%.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Shiva Texyarn ($SHIVTEX) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 3,973 | 3,319 | 4,105 | 5,045 | 4,575 | -9.3% |
| EBITDA | 804 | 168 | 715 | 724 | | -100.0% |
| Net Income | 266 | -194 | 223 | 209 | 89 | -57.4% |
Balance Sheet
|
|---|
| Cash | 195 | 88 | 196 | | | |
| Short Term Debt | 1,548 | 1,098 | 438 | | | |
| Long Term Debt | 2,028 | 1,785 | 1,432 | | | |
Cash flow
|
|---|
| Capex | 630 | 139 | | | | |
Ratios
|
|---|
| Revenue growth | -27.8% | -16.4% | 23.7% | 22.9% | -9.3% | |
| EBITDA growth | 145.9% | -79.1% | 325.9% | 1.2% | | |
| EBITDA Margin | 20.2% | 5.1% | 17.4% | 14.4% | 0.0% | -14.4% |
| Net Income Margin | 6.7% | -5.9% | 5.4% | 4.1% | 1.9% | -2.2% |
| CAPEX, % of revenue | 15.9% | 4.2% | | | | 0.0% |
| ROIC | 13.0% | -0.4% | 13.7% | | | 0.0% |
| ROE | 23.0% | -16.6% | 19.0% | | | 0.0% |
| Net Debt/EBITDA | 4.2x | 16.6x | 2.3x | 0.0x | | 0.0x |
Revenue and profitability
The company's Revenue decreased on 9.3% in FY2015.
Net Income marign decreased on 2.2 pp from 4.1% to 1.9% in FY2015.
Appendix 1: Peers in Textiles
Below you can find Shiva Texyarn 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 |
|---|
| Shri Dinesh Mills ($SHRIDINE) | | 5.0% | 5.1% | -76.5% | 304.9% |
| Santaram Spinners ($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 ($JAYTEX) | | 17.2% | -26.3% | 0.4% | 38.0% |
| |
|---|
| Median (71 companies) | -41.1% | 5.0% | 9.3% | 14.2% | -0.1% |
|---|
| Shiva Texyarn ($SHIVTEX) | | -16.4% | 23.7% | 22.9% | -9.3% |
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 ($PREMSYN) | | | | | 25.9% |
| |
|---|
| Median (78 companies) | 12.7% | 6.5% | 9.5% | 9.5% | 8.1% |
|---|
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Nitin Spinners ($NITINSPIN) | 0.2% | 1.9% | 2.6% | 8.0% | 42.3% |
| Maharaja Shree Umaid Mills ($MAHASHR) | 2.4% | 18.6% | 24.1% | 6.8% | 16.8% |
| Jindal Worldwide ($JINDWORLD) | 3.6% | 3.0% | 10.5% | 20.7% | 11.6% |
| 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% |
| |
|---|
| Median (21 companies) | 4.5% | 3.0% | 5.6% | 6.8% | 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 ($ARVIND) | 9.9% | 11.3% | 11.2% | 13.7% | 13.2% |
| |
|---|
| Median (115 companies) | 10.1% | 3.6% | 9.0% | 9.2% | 9.0% |
|---|
| Shiva Texyarn ($SHIVTEX) | 13.0% | -0.4% | 13.7% | | |
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 ($DCM) | 3.1x | 13.5x | 3.5x | 3.7x | 5.5x |
| Nahar Spinning Mills ($NAHARSPING) | 4.6x | 70.8x | 3.8x | 3.2x | 4.9x |
| Rai Saheb Rekhchand Mohota Spg.& Wvg.Mills ($RAIREKMOH) | 6.1x | 10.0x | 0.0x | 0.0x | 4.6x |
| |
|---|
| Median (67 companies) | 3.7x | 3.8x | 3.2x | 0.0x | 0.0x |
|---|
