Alchemist revenue dropped on 59.6% and EBITDA Margin dropped on 19.8 pp from -12.7% to -32.6%
11-05-2016 • About Alchemist (
$TURBOIN) • By InTwits
Alchemist reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Alchemist is a company in decline: FY2016 revenue growth was -59.6%, 5 years revenue CAGR was -27.3%
- The company operates at negative EBITDA Margin: -32.6%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 59.6%. Revenue decline was accelerating on average at -41.9 pp per annum in the last 5 years. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased on 4.1 pp from 8.2% to 12.4% in FY2016.
Net Income margin dropped on 39.6 pp from -7.9% to -47.5% in FY2016. Net Income margin pursued a declining trend in FY2012-FY2016.
Financial and operational results
Alchemist ($TURBOIN) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 8,858 | 14,574 | 15,078 | 2,522 | 1,018 | -59.6% |
| EBITDA | 355 | 408 | | -321 | -332 | |
| Net Income | 239 | 272 | 142 | -200 | -484 | |
Balance Sheet
|
|---|
| Cash | 284 | 389 | | | | |
| Short Term Debt | 256 | 66 | | | | |
| Long Term Debt | 3,019 | 2,942 | | | | |
Cash flow
|
|---|
| Capex | 789 | | | | | |
Ratios
|
|---|
| Revenue growth | 76.1% | 64.5% | 3.5% | -83.3% | -59.6% | |
| EBITDA growth | -5.9% | 15.0% | | | 3.2% | |
|
|---|
| EBITDA Margin | 4.0% | 2.8% | | -12.7% | -32.6% | -19.8% |
| Net Income Margin | 2.7% | 1.9% | 0.9% | -7.9% | -47.5% | -39.6% |
| CAPEX, % of revenue | 8.9% | | | | | |
|
|---|
| ROIC | 6.0% | 5.8% | | | | |
| ROE | 26.0% | 20.3% | | | | |
| Net Debt/EBITDA | 8.4x | 6.4x | | | |
Peers in
Below you can find Alchemist benchmarking vs. other companies in 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 |
|---|
| Rane Engine Valve ($RANENGIN) | 6.5% | -14.4% | -1.2% | 49.3% | - |
| Indbulbbph ($INDBULBBPH) | - | -6.5% | 33.5% | 49.2% | 0.9% |
| Monetbbph ($MONETBBPH) | 22.3% | 3.7% | 11.6% | 40.8% | - |
| Asleyf ($ASLEYF) | 15.5% | -3.3% | -8.0% | 33.6% | - |
| Bharat Rasayan ($BHARATRA) | 51.3% | 32.1% | 92.7% | 21.4% | - |
| |
|---|
| Median (17 companies) | 17.4% | 9.7% | 3.9% | 9.1% | 9.7% |
|---|
| Alchemist ($TURBOIN) | - | 64.5% | 3.5% | -83.3% | -59.6% |
Top companies by Gross margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jenson & Nicholson Financial Services ($JNFSL) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Bombay Drugs & Pharmas ($BOMDRDM) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Southern Herbals ($SOUTHNHE) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Tafnccpeq ($TAFNCCPEQ) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (4 companies) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oswal Chemicals & Fertilizers ($OSWALCHEM) | - | - | - | 53.4% | - |
| Kaleconbbph ($KALECONBBPH) | 27.7% | 44.3% | 43.5% | 37.9% | - |
| Paushak ($PAUSHAK) | - | - | - | 25.6% | - |
| The United Nilgiri Tea Estates Company ($UNITEDTEA) | - | - | - | 24.7% | - |
| Indbulbbph ($INDBULBBPH) | 36.7% | 34.6% | 29.5% | 23.5% | 28.7% |
| |
|---|
| Median (20 companies) | 15.7% | 14.9% | 14.7% | 10.8% | 9.9% |
|---|
| Alchemist ($TURBOIN) | 4.0% | 2.8% | - | -12.7% | -32.6% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Monetbbph ($MONETBBPH) | 131.4% | 5.2% | 139.2% | 89.2% | - |
| Jklakbbph ($JKLAKBBPH) | 28.5% | 28.8% | 24.6% | 23.6% | - |
| Rilbbph ($RILBBPH) | 4.6% | 7.7% | 13.8% | 16.9% | 18.0% |
| Gkw ($GKW) | - | - | - | 15.5% | - |
| Paushak ($PAUSHAK) | - | - | - | 12.3% | - |
| |
|---|
| Median (18 companies) | 8.6% | 5.2% | 4.5% | 5.0% | 0.9% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kaleconbbph ($KALECONBBPH) | - | 89.0% | 103.8% | 81.0% | - |
| Bharat Rasayan ($BHARATRA) | 22.1% | 13.7% | 21.9% | 26.1% | - |
| Uplbbph ($UPLBBPH) | 17.1% | 15.9% | 18.2% | 22.1% | 22.2% |
| Rane Brake Lining ($RANEBRAKE) | 14.1% | 7.9% | 11.1% | 12.8% | - |
| Merckbbph ($MERCKBBPH) | 21.3% | 13.1% | 8.6% | 10.6% | - |
| |
|---|
| Median (28 companies) | 9.4% | 7.7% | 5.9% | 4.4% | 2.7% |
|---|
| Alchemist ($TURBOIN) | 6.0% | 5.8% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Monetbbph ($MONETBBPH) | 9.8x | 16.3x | 27.4x | 140.3x | - |
| Indbulbbph ($INDBULBBPH) | 4.3x | 4.8x | 5.5x | 9.6x | 6.5x |
| Jklakbbph ($JKLAKBBPH) | 2.1x | 2.3x | 5.3x | 5.5x | - |
| Asleyf ($ASLEYF) | 2.5x | 5.0x | 17.8x | 5.0x | - |
| Rane Engine Valve ($RANENGIN) | 2.1x | 11.3x | 4.5x | 4.8x | - |
| |
|---|
| Median (17 companies) | 1.7x | 1.8x | 2.2x | 1.1x | 1.0x |
|---|
