Goodricke Group Net Income surged on 126% in 2015 and Revenue increased on 9.9%
11-02-2016 • About Goodricke Group (
$GOODRICKE) • By InTwits
Goodricke Group reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 4.2% in FY2015, 8.1% in FY2014, 10.1% in FY2013, 7.3% in FY2012, 12.6% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Goodricke Group ($GOODRICKE) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 4,575 | 5,376 | 5,772 | 6,017 | 6,612 | 9.9% |
| EBITDA | 575 | 393 | 582 | 489 | 277 | -43.4% |
| Net Income | 374 | 200 | 334 | 222 | 503 | 126.2% |
Balance Sheet
|
|---|
| Cash | 41 | 73 | 74 | 31 | | -100.0% |
| Short Term Debt | 210 | 420 | 76 | 79 | | -100.0% |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 244 | 186 | 154 | 147 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -42.6% | 17.5% | 7.4% | 4.3% | 9.9% | |
| EBITDA growth | -14.3% | -31.7% | 48.3% | -16.0% | -43.4% | |
| EBITDA Margin | 12.6% | 7.3% | 10.1% | 8.1% | 4.2% | -3.9% |
| Net Income Margin | 8.2% | 3.7% | 5.8% | 3.7% | 7.6% | 3.9% |
| CAPEX, % of revenue | 5.3% | 3.5% | 2.7% | 2.5% | | -2.5% |
| ROIC | 27.7% | 13.0% | 20.9% | 16.8% | | -16.8% |
| ROE | 23.8% | 11.4% | 17.4% | 10.7% | | -10.7% |
| Net Debt/EBITDA | 0.3x | 0.9x | 0.0x | 0.1x | 0.0x | -0.1x |
Revenue and profitability
Goodricke Group's Revenue increased on 9.9% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin surged on 18.3 pp from -22.9% to -4.6% in FY2015.
Net Income marign increased on 3.9 pp from 3.7% to 7.6% in FY2015.
Appendix 1: Peers in Tea & Coffee
Below we provide Goodricke Group benchmarking against other companies in Tea & Coffee 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 |
|---|
| Ccl Products (India) ($CCL) | | 38.0% | 29.6% | 10.2% | 22.8% |
| Bombay Burmah Trading Corp ($BBTC) | | 15.7% | 10.0% | 11.5% | 12.7% |
| Tata Coffee ($TATACOFFEE) | | 19.1% | 7.3% | -3.0% | 5.1% |
| B & A ($BNALTD) | | | 16.7% | 7.8% | 4.8% |
| Tata Global Beverages ($TATAGLOBAL) | | 11.0% | 10.7% | 5.3% | 3.3% |
| |
|---|
| Median (10 companies) | -17.9% | 14.8% | 10.0% | 9.9% | 1.5% |
|---|
| Goodricke Group ($GOODRICKE) | | 17.5% | 7.4% | 4.3% | 9.9% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Ccl Products (India) ($CCL) | 18.0% | 20.3% | 20.1% | 21.5% | 20.6% |
| Tata Coffee ($TATACOFFEE) | 19.8% | 12.8% | 19.2% | 19.9% | 20.2% |
| B & A ($BNALTD) | | 18.4% | 17.1% | 17.1% | 14.8% |
| Rossell India ($ROSSELLIND) | 32.2% | 31.0% | 27.5% | 26.5% | 14.7% |
| Bombay Burmah Trading Corp ($BBTC) | 6.2% | 6.0% | 6.8% | 8.6% | 10.5% |
| |
|---|
| Median (9 companies) | 16.8% | 9.4% | 17.1% | 17.1% | 10.5% |
|---|
| Goodricke Group ($GOODRICKE) | 12.6% | 7.3% | 10.1% | 8.1% | 4.2% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Rossell India ($ROSSELLIND) | 3.3% | 11.0% | 6.7% | 14.8% | 11.1% |
| Mcleod Russel India ($MCLEODRUSS) | 4.9% | 10.0% | 6.0% | 9.4% | 9.8% |
| Tata Coffee ($TATACOFFEE) | 1.9% | 3.2% | 4.3% | 4.0% | 3.6% |
| Jay Shree Tea & Industries ($JAYSHREETEA) | 10.7% | 4.5% | 3.7% | 6.4% | 3.5% |
| Andrew Yule & Company ($ANDREWYU) | 2.2% | 2.8% | 1.8% | 2.4% | 2.9% |
| |
|---|
| Median (8 companies) | 4.1% | 4.7% | 3.7% | 4.0% | 3.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Bombay Burmah Trading Corp ($BBTC) | 9.4% | 10.7% | 13.9% | 20.6% | 23.7% |
| Ccl Products (India) ($CCL) | 9.7% | 16.1% | 18.0% | 19.7% | 23.0% |
| Tata Coffee ($TATACOFFEE) | 15.7% | 10.9% | 16.2% | 14.0% | 14.0% |
| Tata Global Beverages ($TATAGLOBAL) | 7.9% | 8.2% | 9.6% | 8.1% | 8.0% |
| Rossell India ($ROSSELLIND) | | | 12.1% | 12.7% | 4.1% |
| |
|---|
| Median (13 companies) | 9.7% | 9.4% | 12.7% | 12.9% | 6.0% |
|---|
| Goodricke Group ($GOODRICKE) | 27.7% | 13.0% | 20.9% | 16.8% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Jay Shree Tea & Industries ($JAYSHREETEA) | 5.9x | 8.6x | 4.5x | 8.2x | 19.5x |
| Tata Coffee ($TATACOFFEE) | 2.7x | 3.6x | 2.6x | 2.7x | 2.5x |
| Andrew Yule & Company ($ANDREWYU) | 4.3x | 2.1x | 5.4x | 1.9x | 1.7x |
| Ccl Products (India) ($CCL) | 3.7x | 2.6x | 2.3x | 1.7x | 1.1x |
| Rossell India ($ROSSELLIND) | 0.4x | 0.0x | 1.9x | 1.5x | 2.6x |
| |
|---|
| Median (13 companies) | 2.5x | 2.1x | 1.9x | 1.0x | 1.7x |
|---|
| Goodricke Group ($GOODRICKE) | 0.3x | 0.9x | 0.0x | 0.1x | 0.0x |
