Maral Overseas EBITDA dropped on 19.1% and Revenue decreased on 4.3%
10-05-2016 • About Maral Overseas (
$MARALOVER) • By InTwits
Maral Overseas reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Maral Overseas's Revenue decreased on 4.3%. During the last 5 years Revenue growth topped in FY2014 at 16.8% and was decelerating since that time. Revenue decline was accompanies by EBITDA margin decline. EBITDA Margin decreased slightly on 1.4 pp from 9.2% to 7.8% in FY2016. During the last 5 years EBITDA Margin topped in FY2014 at 12.9% and was declining since that time.
Net Income margin decreased slightly on 0.97 pp from 2.7% to 1.7% in FY2016. During FY2012-FY2016 Net Income margin topped in FY2014 at 4.7% and was declining since that time.
Financial and operational results
Maral Overseas ($MARALOVER) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 5,127 | 5,370 | 6,274 | 6,242 | 5,972 | -4.3% |
| EBITDA | 333 | 571 | 807 | 574 | 464 | -19.1% |
| Net Income | -20 | 242 | 295 | 167 | 102 | -38.9% |
Balance Sheet
|
|---|
| Cash | 15 | 64 | 30 | | | |
| Short Term Debt | 942 | 775 | 720 | | | |
| Long Term Debt | 1,488 | 1,277 | 1,118 | | | |
Cash flow
|
|---|
| Capex | 61 | | | | | |
Ratios
|
|---|
| Revenue growth | 3.7% | 4.7% | 16.8% | -0.5% | -4.3% | |
| EBITDA growth | -36.2% | 71.6% | 41.4% | -28.9% | -19.1% | |
|
|---|
| EBITDA Margin | 6.5% | 10.6% | 12.9% | 9.2% | 7.8% | -1.4% |
| Net Income Margin | -0.4% | 4.5% | 4.7% | 2.7% | 1.7% | -1.0% |
| CAPEX, % of revenue | 1.2% | | | | | |
|
|---|
| ROIC | 4.6% | 14.1% | 16.0% | | | |
| ROE | -55.4% | 77.8% | 40.9% | | | |
| Net Debt/EBITDA | 7.3x | 3.5x | 2.2x | 0.0x | 0.0x |
Peers in Textiles
Below you can find Maral Overseas benchmarking vs. other companies in Textiles 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Olympia Industries ($OLYMPTX) | -58.0% | -96.6% | 74,809.1% | 1,749.9% | - |
| Shri Dinesh Mills ($SHRIDINE) | 5.0% | 5.1% | -76.5% | 304.9% | - |
| Santaram Spinners ($SANTASPN) | 6.0% | 60.7% | -40.9% | 112.0% | - |
| Asahi Industries ($ASAHIIND) | 36.2% | 23.0% | 24.4% | 103.9% | - |
| Blue Chip Tex Industries ($BLUECHIPT) | - | 12.9% | 29.9% | 56.1% | 23.7% |
| |
|---|
| Median (74 companies) | 4.4% | 9.7% | 14.3% | 0.2% | 2.4% |
|---|
| Maral Overseas ($MARALOVER) | - | 4.7% | 16.8% | -0.5% | -4.3% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sil Investments ($SILINV) | - | - | - | 93.8% | - |
| Swadeshi Polytex ($SWADPOL) | - | - | - | 64.4% | - |
| Binny ($BINNY) | - | - | - | 60.9% | - |
| Ruby Mills ($RUBYMILLS) | 28.3% | 25.1% | 28.6% | 29.3% | - |
| Premier Synthetics ($PREMSYN) | - | - | - | 25.9% | - |
| |
|---|
| Median (85 companies) | 6.2% | 9.3% | 9.5% | 7.0% | 14.0% |
|---|
| Maral Overseas ($MARALOVER) | 6.5% | 10.6% | 12.9% | 9.2% | 7.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Nitin Spinners ($NITINSPIN) | 1.9% | 2.6% | 8.0% | 42.3% | 4.7% |
| Maharaja Shree Umaid Mills ($MAHASHR) | 18.6% | 24.1% | 6.8% | 16.8% | - |
| Jindal Worldwide ($JINDWORLD) | 3.0% | 10.5% | 20.7% | 11.6% | - |
| SRF ($SRF) | 0.0% | 18.7% | 20.0% | 11.4% | 13.0% |
| Welspun India ($WELSPUNIND) | 5.6% | 7.8% | 16.4% | 10.9% | 17.7% |
| |
|---|
| Median (21 companies) | 3.4% | 5.6% | 6.8% | 6.7% | 6.3% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Welspun India ($WELSPUNIND) | 9.3% | 15.6% | 8.5% | 21.9% | 25.2% |
| Maharaja Shree Umaid Mills ($MAHASHR) | -0.5% | 9.2% | 8.3% | 20.4% | - |
| Nitin Spinners ($NITINSPIN) | 6.0% | 19.5% | 21.5% | 17.5% | 17.8% |
| Sutlej Textiles & Industries ($SUTLEJTEX) | 9.5% | 13.6% | 19.8% | 14.6% | - |
| Arvind ($ARVIND) | 11.3% | 11.2% | 13.7% | 13.2% | - |
| |
|---|
| Median (127 companies) | 3.5% | 8.9% | 8.6% | 9.5% | 13.2% |
|---|
| Maral Overseas ($MARALOVER) | 4.6% | 14.1% | 16.0% | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Bombay Rayon Fashions ($BRFL) | 4.9x | 4.9x | 11.6x | 10.0x | - |
| Ruby Mills ($RUBYMILLS) | 12.6x | 15.3x | 10.8x | 8.6x | - |
| Dcm ($DCM) | 13.5x | 3.5x | 3.7x | 5.5x | - |
| Nahar Spinning Mills ($NAHARSPING) | 70.8x | 3.8x | 3.2x | 4.9x | - |
| Rai Saheb Rekhchand Mohota Spg.& Wvg.Mills ($RAIREKMOH) | 10.0x | 0.0x | 0.0x | 4.6x | - |
| |
|---|
| Median (70 companies) | 3.8x | 3.2x | 0.0x | 0.0x | 1.6x |
|---|
| Maral Overseas ($MARALOVER) | 7.3x | 3.5x | 2.2x | 0.0x | 0.0x |
