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Garg Furnace revenue decreased on 3.0% in 2015

02-06-2015 • About Garg Furnace ($GARGFUR) • By InTwits

Garg Furnace reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: Garg Furnace is a company in decline: FY2015 revenue growth was -3.0%, 5 years revenue CAGR was -3.0%.

Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.

Garg Furnace ($GARGFUR) key annual financial indicators

mln. INR201120122013201420152015/2014
P&L
Revenue1,8682,0562,1161,6481,599-3.0%
EBITDA41508677
Net Income1218995-42.9%
Balance Sheet
Cash12323
Short Term Debt0264337
Long Term Debt2098967
Cash flow
Ratios
Revenue growth0.4%10.1%2.9%-22.1%-3.0%
EBITDA growth4.4%20.3%74.0%
EBITDA Margin2.2%2.4%4.1%0.0%4.8%4.8%
Net Income Margin0.7%0.9%0.4%0.6%0.3%-0.2%
ROIC6.9%6.8%10.6%0.0%
ROE4.6%6.3%3.1%0.0%
Net Debt/EBITDA4.8x7.1x4.4x0.0x0.0x

Revenue and profitability


The company's Revenue decreased on 3.0% in FY2015.

Net Income marign showed almost no change in FY2015.


Appendix 1: Peers in Iron & Steel/Interm.Products


Below you can find Garg Furnace benchmarking vs. other companies in Iron & Steel/Interm.Products 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
Uttam Galva Steels ($UTTAMSTL)12.0%11.0%-13.2%55.0%
Modern Steels ($MDRNSTL)-2.6%-22.7%0.7%20.3%
Maithan Alloys ($MAITHANALL)-1.5%59.1%1.1%15.0%
Pennar Industries ($PENIND)0.9%-8.5%0.5%12.7%
Vaswani Industries ($VASWANI)51.4%-2.1%5.6%12.6%
 
Median (31 companies)22.4%12.5%8.8%3.4%0.4%
Garg Furnace ($GARGFUR)10.1%2.9%-22.1%-3.0%


Top companies by EBITDA margin, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Jindal Steel & Power ($JINDALSTEL)48.3%37.5%30.5%28.1%29.8%
Sarda Energy & Minerals ($SARDAEN)15.2%16.3%21.5%21.3%21.5%
Bhushan Steel ($BHUSANSTL)29.0%31.2%32.3%28.1%20.4%
Jsw Steel ($JSWSTEEL)20.2%17.8%17.1%17.9%17.7%
Tata Metaliks ($TATAMETALI)3.2%-9.6%0.9%6.8%14.6%
 
Median (27 companies)13.4%9.5%9.2%7.2%9.0%
Garg Furnace ($GARGFUR)2.2%2.4%4.1%4.8%


Top companies by CAPEX/Revenue, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Jindal Steel & Power ($JINDALSTEL)64.7%34.2%47.6%69.6%26.4%
Jayaswal Neco Industries ($JAYNECOIND)27.9%20.4%44.0%31.1%17.3%
Steel Authority Of India ($SAIL)25.3%20.9%20.7%19.3%16.9%
Bhushan Steel ($BHUSANSTL)81.1%47.2%44.0%50.4%16.2%
Jsw Steel ($JSWSTEEL)22.0%11.9%14.7%11.3%12.7%
 
Median (18 companies)12.1%9.1%11.0%7.1%4.9%


Top companies by ROIC, %

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Tata Metaliks ($TATAMETALI)3.1%-23.5%-3.7%19.9%57.4%
Pennar Industries ($PENIND)31.6%26.8%18.4%12.3%15.7%
Maithan Alloys ($MAITHANALL)34.5%16.3%15.1%5.5%15.3%
Kirloskar Ferrous Industries ($KIRLFER)20.0%19.1%16.8%12.4%14.7%
Gallantt Metal ($GALLANTT)9.7%8.7%11.7%8.5%11.7%
 
Median (37 companies)9.6%7.2%5.5%5.8%5.0%
Garg Furnace ($GARGFUR)6.9%6.8%10.6%


Top companies by Net Debt / EBITDA

Top 5 FY2011 FY2012 FY2013 FY2014 FY2015
Visa Steel ($VISASTEEL)6.9x20.1x24.4x187.1x
Ismt ($ISMTLTD)4.4x5.3x9.8x19.9x48.3x
Kic Metaliks ($KAJARIR)6.6x9.2x3.0x18.2x19.8x
Bhushan Steel ($BHUSANSTL)8.1x6.3x8.6x12.9x17.7x
Prakash Industries ($PRAKASH)1.8x2.5x2.8x2.5x11.9x
 
Median (25 companies)3.6x4.2x4.3x3.3x2.5x
Garg Furnace ($GARGFUR)4.8x7.1x4.4x0.0x


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