Ece Industries reports 12.8% revenue decline in FY2016
12-05-2016 • About Ece Industries (
$ECEIND) • By InTwits
Ece Industries reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Ece Industries is a company in decline: FY2016 revenue growth was -12.8%, 5 years revenue CAGR was -3.6%
- EBITDA Margin is relatively stable: in FY2016 vs. in FY2015 vs. -2.5% in FY2012
- Ece Industries motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0% while average EBITDA Margin was -0.8% for the sames years
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 12.8%.
Net Income margin decreased slightly on 1.3 pp from 0.56% to -0.71% in FY2016. Net Income margin followed a declining trend at -0.45 pp per annum in the last 5 years.
Financial and operational results
Ece Industries ($ECEIND) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,905 | 1,316 | 1,121 | 1,771 | 1,544 | -12.8% |
| EBITDA | -47 | -18 | | | | |
| Net Income | 28 | 9 | 2 | 10 | -11 | -211.1% |
Balance Sheet
|
|---|
| Cash | 235 | 44 | | | | |
| Short Term Debt | 70 | 0 | | | | |
| Long Term Debt | 0 | | | | | |
Cash flow
|
|---|
| Capex | 64 | | | | | |
Ratios
|
|---|
| Revenue growth | 2.8% | -30.9% | -14.8% | 58.1% | -12.8% | |
| EBITDA growth | 415.9% | -62.3% | | | | |
|
|---|
| EBITDA Margin | -2.5% | -1.4% | | | |
| Net Income Margin | 1.5% | 0.7% | 0.2% | 0.6% | -0.7% | -1.3% |
| CAPEX, % of revenue | 3.4% | | | | | |
|
|---|
| ROIC | -4.5% | | | | | |
| ROE | 1.9% | 0.7% | | | | |
Peers in Other Elect.Equip./ Prod.
Below we provide Ece Industries benchmarking against other companies in Other Elect.Equip./ Prod. 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 |
|---|
| Indosolar ($INDOSOLAR) | -85.0% | -34.7% | -71.0% | 1,797.0% | - |
| B.C. Power Controls ($BCP) | 129.0% | -2.2% | 2.2% | 115.3% | - |
| Pitti Laminations ($PITTILAM) | 60.4% | -23.9% | -19.4% | 35.9% | - |
| Genus Power Infrastructures ($GENUSPOWER) | -1.2% | -7.5% | 17.4% | 19.5% | - |
| Salzer Electronics ($SALZER) | 23.4% | 2.6% | 6.9% | 15.9% | - |
| |
|---|
| Median (14 companies) | 18.2% | -1.9% | -3.6% | 5.3% | - |
|---|
| Ece Industries ($ECEIND) | - | -30.9% | -14.8% | 58.1% | -12.8% |
Top companies by Gross margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Malvica Engineering ($MALVICAE) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (1 company) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Fluidomat ($FLUIDOM) | - | - | - | 28.0% | - |
| Indosolar ($INDOSOLAR) | -114.4% | -52.7% | -140.0% | 16.3% | - |
| Genus Power Infrastructures ($GENUSPOWER) | 14.1% | 11.0% | 13.8% | 13.8% | - |
| Salzer Electronics ($SALZER) | 12.9% | 12.5% | 12.4% | 12.6% | - |
| Pitti Laminations ($PITTILAM) | 15.6% | 13.6% | 13.2% | 12.0% | - |
| |
|---|
| Median (17 companies) | 9.9% | 9.0% | 8.9% | 10.3% | - |
|---|
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Indosolar ($INDOSOLAR) | 311.2% | 148.3% | 42.3% | 26.9% | - |
| Diamond Power Infrastructure ($DIAPOWER) | - | 6.8% | 8.4% | 8.7% | - |
| Salzer Electronics ($SALZER) | 6.8% | 5.6% | 4.1% | 8.2% | - |
| Birla Ericsson Optical ($BIRLAERIC) | 1.3% | 4.4% | 4.0% | 3.5% | - |
| Kirloskar Electric Company ($KECL) | 1.8% | 0.7% | 1.8% | 2.3% | - |
| |
|---|
| Median (7 companies) | 2.8% | 4.2% | 4.0% | 3.5% | - |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Birla Ericsson Optical ($BIRLAERIC) | -2.2% | 8.2% | 27.3% | 16.6% | - |
| Salzer Electronics ($SALZER) | 14.6% | 12.7% | 13.0% | 14.6% | - |
| Genus Power Infrastructures ($GENUSPOWER) | 12.4% | 8.0% | 12.2% | 13.5% | - |
| Hbl Power Systems ($HBLPOWER) | 10.6% | 10.1% | 4.3% | 6.7% | - |
| Indosolar ($INDOSOLAR) | -14.0% | -6.8% | -5.2% | 2.2% | - |
| |
|---|
| Median (23 companies) | 9.0% | 8.2% | 9.7% | 4.5% | 0.0% |
|---|
| Ece Industries ($ECEIND) | -4.5% | - | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Diamond Power Infrastructure ($DIAPOWER) | 3.3x | 5.2x | 4.8x | 46.8x | - |
| Indosolar ($INDOSOLAR) | - | - | - | 20.3x | - |
| Hbl Power Systems ($HBLPOWER) | 4.1x | 4.4x | 6.8x | 4.7x | - |
| Salzer Electronics ($SALZER) | 1.9x | 2.2x | 2.6x | 2.7x | - |
| Genus Power Infrastructures ($GENUSPOWER) | 3.2x | 3.9x | 2.9x | 2.7x | - |
| |
|---|
| Median (14 companies) | 3.4x | 4.2x | 2.8x | 0.0x | 0.0x |
|---|
