Anik Industries reports 208% EBITDA growth and 2.7 pp EBITDA Margin growth from 1.3% to 4.1%
07-06-2015 • About Anik Industries (
$ANIKINDS) • By InTwits
Anik Industries reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 4.1% in FY2015, 1.3% in FY2014, 3.1% in FY2013, 3.3% in FY2012, 2.7% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Anik Industries ($ANIKINDS) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 12,745 | 16,055 | 12,640 | 14,481 | 14,676 | 1.4% |
| EBITDA | 343 | 523 | 393 | 194 | 597 | 207.8% |
| Net Income | 101 | 132 | 107 | 111 | 103 | -7.2% |
Balance Sheet
|
|---|
| Cash | 239 | 309 | 554 | | | |
| Short Term Debt | 2,292 | 3,109 | 2,011 | | | |
| Long Term Debt | 285 | 196 | 97 | | | |
Cash flow
|
|---|
| Capex | 76 | 25 | 364 | | | |
Ratios
|
|---|
| Revenue growth | -26.6% | 26.0% | -21.3% | 14.6% | 1.4% | |
| EBITDA growth | 75.6% | 52.4% | -24.9% | -50.7% | 207.8% | |
| EBITDA Margin | 2.7% | 3.3% | 3.1% | 1.3% | 4.1% | 2.7% |
| Net Income Margin | 0.8% | 0.8% | 0.8% | 0.8% | 0.7% | -0.1% |
| CAPEX, % of revenue | 0.6% | 0.2% | 2.9% | | | 0.0% |
| ROIC | 5.6% | 8.9% | 6.5% | | | 0.0% |
| ROE | 4.8% | 6.0% | 4.5% | | | 0.0% |
| Net Debt/EBITDA | 6.8x | 5.7x | 4.0x | 0.0x | 0.0x | 0.0x |
Revenue and profitability
Anik Industries's Revenue increased slightly on 1.4% in FY2015. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin increased on 2.7 pp from 1.3% to 4.1% in FY2015.
Net Income marign showed almost no change in FY2015.
Appendix 1: Peers in Other Agricultural Products
Below we provide Anik Industries benchmarking against other companies in Other Agricultural 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 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Vikas Granaries ($VIKASGRAN) | | -13.9% | 88.0% | -34.7% | 108.5% |
| Kaveri Seed Company ($KSCL) | | 59.4% | 91.2% | 42.0% | 14.8% |
| Modi Naturals ($MODINATUR) | | 51.2% | 16.2% | 8.3% | 11.5% |
| Freshtrop Fruits ($FRSHTRP) | | 14.7% | 43.8% | 29.1% | 0.0% |
| Agro Tech Foods ($ATFL) | | -2.3% | 12.1% | -3.2% | -0.8% |
| |
|---|
| Median (9 companies) | | 51.2% | 35.2% | 16.2% | -0.8% |
|---|
| Anik Industries ($ANIKINDS) | | 26.0% | -21.3% | 14.6% | 1.4% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Indrayani Biotech ($INDRANIB) | | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (1 company) | | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kaveri Seed Company ($KSCL) | 23.0% | 20.7% | 19.6% | 21.9% | 26.7% |
| Avt Natural Products ($AVTNPL) | 17.3% | 37.6% | 30.8% | 25.9% | 17.5% |
| Freshtrop Fruits ($FRSHTRP) | 7.8% | 9.3% | 8.9% | 9.8% | 14.1% |
| Agro Tech Foods ($ATFL) | 3.9% | 7.6% | 8.3% | 9.2% | 8.0% |
| Vikas Granaries ($VIKASGRAN) | 30.4% | 10.6% | 14.2% | 9.8% | 5.0% |
| |
|---|
| Median (9 companies) | 10.3% | 7.6% | 8.9% | 9.8% | 5.0% |
|---|
| Anik Industries ($ANIKINDS) | 2.7% | 3.3% | 3.1% | 1.3% | 4.1% |
Top companies by CAPEX/Revenue, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kaveri Seed Company ($KSCL) | 5.4% | 2.9% | 5.9% | 2.5% | 7.1% |
| Agro Tech Foods ($ATFL) | 4.2% | 4.1% | 6.0% | 6.3% | 5.6% |
| Avt Natural Products ($AVTNPL) | 2.0% | 2.3% | 5.0% | 3.3% | 4.0% |
| Kohinoor Foods ($KOHINOOR) | 3.7% | 1.6% | 1.5% | 1.0% | 0.3% |
| |
|---|
| Median (4 companies) | 3.7% | 1.6% | 5.0% | 2.9% | 4.8% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kaveri Seed Company ($KSCL) | 21.0% | 27.5% | 41.1% | 46.8% | 45.9% |
| Avt Natural Products ($AVTNPL) | 19.1% | 58.2% | 41.5% | 32.8% | 19.0% |
| Agro Tech Foods ($ATFL) | 13.7% | 24.0% | 25.3% | 21.2% | 13.9% |
| Indrayani Biotech ($INDRANIB) | | 0.0% | 0.0% | 0.0% | 0.0% |
| Kohinoor Foods ($KOHINOOR) | 11.2% | 3.1% | 8.8% | 10.3% | -1.3% |
| |
|---|
| Median (13 companies) | 12.8% | 8.6% | 9.3% | 21.2% | 13.9% |
|---|
| Anik Industries ($ANIKINDS) | 5.6% | 8.9% | 6.5% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kohinoor Foods ($KOHINOOR) | 7.7x | 19.2x | 7.8x | 6.1x | 296.6x |
| Agro Tech Foods ($ATFL) | -1.6x | -0.8x | -0.2x | 0.1x | 0.3x |
| Unique Organics ($UNIQUEO) | | | 0.0x | 0.0x | 0.0x |
| Freshtrop Fruits ($FRSHTRP) | 7.0x | 3.3x | 2.5x | 0.0x | 0.0x |
| Modi Naturals ($MODINATUR) | 8.5x | 3.9x | 2.2x | | 0.0x |
| |
|---|
| Median (9 companies) | 2.6x | 2.1x | 1.5x | 0.0x | 0.0x |
|---|
| Anik Industries ($ANIKINDS) | 6.8x | 5.7x | 4.0x | 0.0x | 0.0x |
