Control Print's growth is outstanding: revenue grew 19.2% and EBITDA 45.5% annually over the last three years
08-07-2015 • About Control Print (
$CONTROLPR) • By InTwits
Control Print is a fast-growing stock in Containers & Packaging industry. It showed noticeble revenue performance in the last years among with attractive profitability and financial model.
Growth story
Control Print showed fast growth in the last financial year. The company's revenue surged on 23.9% in FY2015. Together with revenue growth Control Print also managed to keep EBITDA growth. EBITDA grew 39.0% for the same period.
If we look for the longer period Control Print showed fast revenue growth of 19.2% from FY2012 to FY2015 annually. EBITDA surged on 45.5% from FY2012 to FY2015 annually.
Control Print ($CONTROLPR) financials for the last 5 years
| mln. INR | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Revenue | 0 | 665 | 798 | 911 | 1,128 |
|---|
| Revenue growth, % | | -100.0% | 20.0% | 14.1% | 23.9% |
|---|
| SG&A, % | | | | | |
|---|
| EBITDA | 0 | 93 | 153 | 205 | 285 |
|---|
| EBITDA growth, % | | -100.0% | 65.8% | 33.6% | 39.0% |
|---|
| EBITDA margin, % | | 13.9% | 19.2% | 22.5% | 25.2% |
|---|
| Net Income | 0 | 80 | 122 | 138 | 189 |
|---|
| Net Income margin, % | | 12.0% | 15.2% | 15.1% | 16.7% |
|---|
| |
| CAPEX | 0 | 20 | 40 | 69 | 135 |
|---|
| CAPEX/Revenue, % | | 2.96% | 5.04% | 7.54% | 11.9% |
|---|
| Debt | 0 | 30 | 30 | 53 | 82 |
|---|
| Cash | 0 | 7 | 3 | 4 | 5 |
|---|
| Net Debt/EBITDA | | 0.2x | 0.2x | 0.2x | 0.3x |
|---|
| |
| ROIC, % | | | 19.7% | 22.2% | 25.2% |
|---|
| ROE, % | | | 18.6% | 17.8% | 20.5% |
|---|
Profitability and return on investment
Margin expansion supported EBITDA growth. EBITDA margin surged on 2.70 pp from 22.5% to 25.2% in FY2015. In the last 3 years EBITDA margin surged on 11.3 pp from 13.9% in FY2012 to 25.2% in FY2015.
We call Control Print an attractive growth stock as together with the growth it delivers high ROIC at 25.2%. During the last three years it surged - it was in FY2012. Average ROIC for the last three years was 22.4%.
Control Print's Net Income margin surged on 1.60 pp from 15.1% to 16.7% in FY2015. In the last 3 years Net Income margin surged on 4.70 pp from 12% in FY2012 to 16.7% in FY2015.
Control Print operates at ROE of 20.5%. It's average ROE for the last three years was 19.0%.
Capital expenditures (CAPEX)
To this fast growth Control Print had to invest in CAPEX.In FY2015 the company had CAPEX/Revenue of 11.9%. The company showed fast CAPEX/Revenue growth of 8.98 pp from 2.96% in FY2012 to 11.9% in FY2015. Average CAPEX/Revenue for the last three years was 8.17%.
Leverage (Debt)
Having such a fast growth profile Control Print keeps low debt level at 0.3x Net Debt/EBITDA. If we look for the longer period leverage increased on 0.02x from 0.25x in FY2012 to 0.27x in FY2015.
Peers in Containers & Packaging
Below you can find Control Print benchmarking vs. other companies in Containers & Packaging 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, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Shri Jagdamba Polymers ($SHRJAGP) | | 35.5% | 38.3% | 21.7% | 22.7% |
| Kg Petrochem ($KGPETRO) | | 16.1% | 24.0% | 20.9% | 22.4% |
| Kanpur Plastipack ($KANPRPLA) | | 57.2% | -4.6% | 21.1% | 15.9% |
| Emmbi Industries ($EMMBI) | | 35.6% | 36.6% | 13.9% | 14.8% |
| Time Technoplast ($TIMETECHNO) | | 19.8% | 17.6% | 21.6% | 13.3% |
| |
|---|
| Median (18 companies) | -47.6% | 16.1% | 15.3% | 13.9% | 7.8% |
|---|
| Control Print ($CONTROLPR) | | | 20.0% | 14.1% | 23.9% |
Top companies by EBITDA margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Manaksia ($MANAKSIA) | 16.5% | 14.4% | 17.4% | 20.3% | 18.6% |
| Essel Propack ($ESSELPRO) | 17.8% | 17.0% | 17.4% | 16.9% | 17.2% |
| Time Technoplast ($TIMETECHNO) | 18.5% | 15.9% | 16.2% | 14.1% | 13.7% |
| Kg Petrochem ($KGPETRO) | 11.6% | 16.0% | 12.8% | 14.7% | 12.5% |
| Hindusthan National Glass & Industries ($HINDNATGLS) | 17.8% | 15.4% | 9.3% | 12.2% | 12.1% |
| |
|---|
| Median (21 companies) | 11.6% | 12.9% | 10.6% | 11.4% | 8.8% |
|---|
| Control Print ($CONTROLPR) | | 13.9% | 19.2% | 22.5% | 25.2% |
Top companies by CAPEX/Revenue, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Essel Propack ($ESSELPRO) | 7.9% | 10.0% | 6.7% | 8.5% | 9.4% |
| Manaksia ($MANAKSIA) | 9.0% | 9.0% | 4.8% | 4.7% | 6.5% |
| Time Technoplast ($TIMETECHNO) | 18.5% | 17.9% | 11.1% | 6.2% | 4.2% |
| Uflex ($UFLEX) | 16.0% | 23.0% | 11.8% | 3.5% | 3.6% |
| Hindusthan National Glass & Industries ($HINDNATGLS) | 21.7% | 75.5% | 25.0% | 6.7% | 0.4% |
| |
|---|
| Median (5 companies) | 10.7% | 8.9% | 8.9% | 6.5% | 4.2% |
|---|
| Control Print ($CONTROLPR) | | 3.0% | 5.0% | 7.5% | 11.9% |
Top companies by ROIC, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Essel Propack ($ESSELPRO) | | 8.6% | 9.9% | 12.5% | 14.7% |
| Time Technoplast ($TIMETECHNO) | 15.9% | 12.8% | 13.4% | 12.0% | 12.9% |
| Manaksia ($MANAKSIA) | 12.7% | 12.9% | 15.5% | 16.0% | 11.4% |
| Uflex ($UFLEX) | 33.1% | 12.5% | 9.9% | 8.1% | 8.4% |
| Hindusthan National Glass & Industries ($HINDNATGLS) | 10.0% | 6.6% | -1.0% | -0.7% | -0.4% |
| |
|---|
| Median (31 companies) | 8.5% | 9.3% | 9.9% | 11.2% | 11.4% |
|---|
| Control Print ($CONTROLPR) | | | 19.7% | 22.2% | 25.2% |
Top companies by Net Debt / EBITDA
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Hindusthan National Glass & Industries ($HINDNATGLS) | 2.1x | 7.4x | 15.8x | 11.2x | 10.6x |
| Uflex ($UFLEX) | 1.0x | 2.7x | 3.0x | 3.2x | 2.8x |
| Essel Propack ($ESSELPRO) | 3.0x | 3.2x | 2.9x | 2.6x | 2.2x |
| Time Technoplast ($TIMETECHNO) | 2.3x | 2.6x | 2.6x | 2.6x | 2.2x |
| Manaksia ($MANAKSIA) | 1.7x | 1.3x | 1.2x | 0.3x | 0.9x |
| |
|---|
| Median (19 companies) | 3.0x | 3.2x | 3.5x | 2.0x | 0.0x |
|---|
| Control Print ($CONTROLPR) | | 0.2x | 0.2x | 0.2x | 0.3x |
