Allahabad Bank reports 4.0% revenue decline in FY2016
13-05-2016 • About Allahabad Bank (
$ALBK) • By InTwits
Allahabad Bank reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: Allahabad Bank has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.8%..
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue decreased on 4.0%. Revenue decline was accelerating on average at -8.9 pp per annum in FY2012-FY2016.
Net Income margin decreased on 6.4 pp from 3.0% to -3.4% in FY2016. Net Income margin stuck to a declining trend at -3.2 pp per annum in FY2012-FY2016.
Investments (CAPEX, working capital and M&A)
In FY2016 the company had CAPEX/Revenue of 0.80%. Allahabad Bank showed almost no change in CAPEX/Revenue from FY2013 to FY2016. It's average level of CAPEX/Revenue for the last three years was 0.81%.
Leverage (Debt)
Debt increased on 9.5% while cash decreased slightly on 2.0%.
Allahabad Bank has no short term refinancing risk: cash is higher than short term debt (341.6%).
Financial and operational results
Allahabad Bank ($ALBK) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 168,315 | 190,263 | 210,498 | 218,735 | 210,031 | -4.0% |
| Net Income | 18,596 | 12,119 | 11,884 | 6,490 | -7,198 | -210.9% |
Balance Sheet
|
|---|
| Cash | 87,125 | 78,083 | 88,345 | 96,603 | 94,712 | -2.0% |
| Short Term Debt | 17,926 | 21,363 | 15,578 | 17,303 | 27,722 | 60.2% |
| Long Term Debt | 90,994 | 101,044 | 121,390 | 143,285 | 148,144 | 3.4% |
Cash flow
|
|---|
| Capex | 1,340 | 1,368 | 1,528 | 1,980 | 1,691 | -14.6% |
Ratios
|
|---|
| Revenue growth | 35.7% | 13.0% | 10.6% | 3.9% | -4.0% | |
|
|---|
| Net Income Margin | 11.0% | 6.4% | 5.6% | 3.0% | -3.4% | -6.4% |
| CAPEX, % of revenue | 0.8% | 0.7% | 0.7% | 0.9% | 0.8% | -0.1% |
|
|---|
| ROE | 19.1% | 10.9% | 10.1% | 5.2% | -5.2% | -10.4% |
Peers in Banks
Below you can find Allahabad Bank benchmarking vs. other companies in Banks 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 |
|---|
| Kotak Mahindra Bank ($KOTAKBANK) | - | 22.9% | 7.1% | 26.1% | 29.2% |
| Dcb Bank ($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 ($AXISBANK) | - | 24.5% | 13.1% | 15.6% | 14.9% |
| |
|---|
| Median (28 companies) | 31.2% | 16.7% | 11.2% | 10.8% | 4.7% |
|---|
| Allahabad Bank ($ALBK) | - | 13.0% | 10.6% | 3.9% | -4.0% |
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 ($J&KBANK) | 1.4% | 1.3% | 2.2% | 3.3% | - |
| Lakshmi Vilas Bank ($LAKSHVILAS) | 2.1% | 1.4% | 1.6% | 2.4% | 2.4% |
| Dcb Bank ($DCBBANK) | 9.0% | 7.0% | 1.6% | 1.9% | 2.2% |
| |
|---|
| Median (28 companies) | 1.3% | 1.2% | 1.3% | 1.3% | 1.4% |
|---|
| Allahabad Bank ($ALBK) | 0.8% | 0.7% | 0.7% | 0.9% | 0.8% |
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% | 7.3% |
| Lakshmi Vilas Bank ($LAKSHVILAS) | 6.5% | 7.5% | 0.7% | 6.1% | 5.8% |
| |
|---|
| Median (28 companies) | 7.6% | 6.3% | 3.3% | 4.3% | 4.1% |
|---|
| Allahabad Bank ($ALBK) | - | - | - | - | - |
