Trending stocks

Lakshmi Vilas Bank reports 36.2% Net Income growth in 2016 and 14.6% Revenue growth

27-04-2016 • About Lakshmi Vilas Bank ($LAKSHVILAS) • By InTwits

Lakshmi Vilas Bank reported FY2016 financial results today. Here are the key drivers of the company's long term financial model:
  • Lakshmi Vilas Bank is a fast growth stock: FY2016 revenue growth was 14.6%, 5 year revenue CAGR was 19.0% at FY2016 ROIC 5.8%
  • Lakshmi Vilas Bank has low CAPEX intensity: 5 year average CAPEX/Revenue was 2.0%. At the same time it's a lot of higher than industry average of 1.5%.
  • CAPEX is quite volatile: ₹678m in FY2016, ₹595m in FY2015, ₹359m in FY2014, ₹278m in FY2013, ₹357m in FY2012
  • The company has potentially unprofitable business model: ROIC is 5.8%
  • It operates with high leverage: Net Debt/EBITDA is 6.7x while industry average is
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.

Revenue and profitability


The company's Revenue surged on 14.6%. During the last 5 years Revenue growth bottomed in FY2014 at 11.7% and was accelerating since that time.

Net Income margin increased slightly on 1.00 pp from 5.3% to 6.3% in FY2016. During FY2012-FY2016 Net Income margin bottomed in FY2014 at 2.7% and was growing since that time.

Investments (CAPEX, working capital and M&A)


Lakshmi Vilas Bank's CAPEX/Revenue was 2.4% in FY2016. The company showed small growth in CAPEX/Revenue of 0.95 pp from 1.4% in FY2013 to 2.4% in FY2016. It's average level of CAPEX/Revenue for the last three years was 2.1%.

Return on investment


The company operates at low ROIC (5.8%) and ROE (10.9%). ROIC showed almost no change in FY2016. ROE increased slightly on 0.72 pp from 10.1% to 10.9% in FY2016. During the last 5 years ROE bottomed in FY2014 at 5.8% and was growing since that time.

Leverage (Debt)


Debt decreased slightly on 0.93% while cash surged on 12.5%.

Lakshmi Vilas Bank has no short term refinancing risk: cash is higher than short term debt (130.3%).

Management team


The company's CEO is Parthasarathi Mukherjee. Parthasarathi Mukherjee has 4 years tenure with the company.

Financial and operational results


Lakshmi Vilas Bank ($LAKSHVILAS) key annual financial indicators

mln. INR201220132014201520162016/2015
P&L
Revenue16,77219,57621,87524,98928,64314.6%
Net Income1,0709165971,3231,80236.2%
Balance Sheet
Cash8,1007,28211,92111,43412,86512.5%
Short Term Debt68663012,92612,1289,870-18.6%
Long Term Debt5,8008,0664,5814,5816,68245.9%
Cash flow
Capex35727835959567814.0%
Ratios
Revenue growth39.6%16.7%11.7%14.2%14.6%
Net Income Margin6.4%4.7%2.7%5.3%6.3%1.0%
CAPEX, % of revenue2.1%1.4%1.6%2.4%2.4%-0.0%
ROIC6.5%7.5%0.7%6.1%5.8%-0.2%
ROE11.6%9.3%5.8%10.1%10.9%0.7%

Peers in Banks


Below we provide Lakshmi Vilas Bank benchmarking against other companies in Banks 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 FY2012 FY2013 FY2014 FY2015 FY2016
Kotak Mahindra Bank ($KOTAKBANK)18.4%22.9%7.1%26.1%-
Dcb Bank ($DCBBANK)-26.2%22.5%25.3%20.8%
Syndicate Bank ($SYNDIBANK)32.2%11.9%7.9%20.2%-
Yes Bank ($YESBANK)-33.7%21.6%17.7%18.9%
Axis Bank ($AXISBANK)-24.5%13.1%15.6%14.9%
 
Median (28 companies)29.3%15.7%10.6%10.2%4.3%
Lakshmi Vilas Bank ($LAKSHVILAS)-16.7%11.7%14.2%14.6%


Top companies by CAPEX/Revenue, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Bank Of India ($BANKINDIA)2.0%1.1%1.5%3.6%-
State Bank Of Mysore ($MYSOREBANK)1.6%1.3%-3.5%1.4%
Jammu & Kashmir Bank ($J&KBANK)1.4%1.3%2.2%3.3%-
Dcb Bank ($DCBBANK)9.0%7.0%1.6%1.9%2.2%
Karur Vysya Bank ($KARURVYSYA)2.0%2.9%2.5%1.7%-
 
Median (28 companies)1.2%1.2%1.2%1.3%1.5%
Lakshmi Vilas Bank ($LAKSHVILAS)2.1%1.4%1.6%2.4%2.4%


Top companies by ROIC, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Karnataka Bank ($KTKBANK)6.8%10.2%7.7%10.4%-
Axis Bank ($AXISBANK)9.6%8.9%9.1%8.8%7.6%
Yes Bank ($YESBANK)9.8%8.4%8.4%8.7%9.0%
Kotak Mahindra Bank ($KOTAKBANK)6.8%6.5%7.1%8.5%-
Dcb Bank ($DCBBANK)-3.4%5.1%6.0%5.2%
 
Median (28 companies)7.6%6.1%3.4%4.2%4.4%
Lakshmi Vilas Bank ($LAKSHVILAS)6.5%7.5%0.7%6.1%5.8%


Similar news

27-04-2016 Exide Industries Net Income surged on 16.1% and Revenue decreased slightly on 0.58%

27-04-2016 Coromandel International reports 31.4% EBITDA decline in 2016 and 0.91% Revenue growth

27-04-2016 Ceat reports 133% CAPEX growth in 2016 and 0.66% Revenue decline

27-04-2016 Shriram City Union Finance Debt jumped on 19.6% and EBITDA increased on 2.1%

27-04-2016 Kpit Technologies reports 34.3% EBITDA growth in 2016 and 2.7 pp EBITDA Margin growth from 10.9% to 13.5%