Diana Tea Co EBITDA dropped on 20.4% in 2015 while Revenue jumped on 11.6%

12-02-2016 • About Diana Tea Co ($DIANATEA) • By InTwits

Diana Tea Co reported FY2015 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.

Diana Tea Co ($DIANATEA) key annual financial indicators

mln. INR	2011	2012	2013	2014	2015	2015/2014
P&L
Revenue	510.1	445.9	396.2	435.6	486.2	11.6%
EBITDA	44.1	31.3	29.2	27.0	21.5	-20.4%
Net Income	38.5	26.7	-4.8	21.7	15.2	-29.9%
Balance Sheet
Cash	15.3	8.0	6.4
Short Term Debt	46.4	107.1	18.9
Long Term Debt	68.5	47.6	41.5
Cash flow
Capex	31.9
Ratios
Revenue growth	-17.9%	-12.6%	-11.1%	9.9%	11.6%
EBITDA growth	-59.7%	-28.9%	-6.9%	-7.6%	-20.4%
EBITDA Margin	8.6%	7.0%	7.4%	6.2%	4.4%	-1.8%
Net Income Margin	7.5%	6.0%	-1.2%	5.0%	3.1%	-1.8%
CAPEX, % of revenue	6.2%					0.0%
ROIC	3.8%	2.5%	2.3%			0.0%
ROE	5.0%	3.4%	-0.6%			0.0%
Net Debt/EBITDA	2.3x	4.7x	1.9x	0.0x	0.0x	0.0x

Revenue and profitability

Diana Tea Co's Revenue surged on 11.6% in FY2015. Revenue growth was financed by EBITDA margin decline. EBITDA Margin decreased slightly on 1.8 pp from 6.2% to 4.4% in FY2015.

Net Income marign decreased slightly on 1.8 pp from 5.0% to 3.1% in FY2015.

Appendix 1: Peers in Tea & Coffee

Below you can find Diana Tea Co benchmarking vs. other companies in Tea & Coffee 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
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%
Goodricke Group ($GOODRICKE)		17.5%	7.4%	4.3%	9.9%
Tata Coffee ($TATACOFFEE)		19.1%	7.3%	-3.0%	5.1%
B & A ($BNALTD)			16.7%	7.8%	4.8%
Median (11 companies)		16.4%	10.0%	7.8%	3.3%
Diana Tea Co ($DIANATEA)		-12.6%	-11.1%	9.9%	11.6%

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 ($BBTC)	6.2%	6.0%	6.8%	8.6%	10.5%
Median (10 companies)	16.8%	9.4%	17.1%	17.1%	10.1%
Diana Tea Co ($DIANATEA)	8.6%	7.0%	7.4%	6.2%	4.4%

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%	4.6%	3.6%	3.3%	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 ($ROSSELLIND)			12.1%	12.7%	4.1%
Median (14 companies)	9.7%	10.8%	13.9%	13.4%	6.0%
Diana Tea Co ($DIANATEA)	3.8%	2.5%	2.3%

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 ($ROSSELLIND)	0.4x	0.0x	1.9x	1.5x	2.6x
Median (13 companies)	1.8x	1.7x	1.8x	1.0x	1.4x
Diana Tea Co ($DIANATEA)	2.3x	4.7x	1.9x	0.0x	0.0x

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