Mangalam Drugs & Organics reports 161% Net Income growth in 2016 and 33.7% Revenue growth
16-05-2016 • About Mangalam Drugs & Organics (
$MANGALAM) • By InTwits
Mangalam Drugs & Organics reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Mangalam Drugs & Organics is a fast growth stock: FY2016 revenue growth was 33.7%, 5 year revenue CAGR was 17.6% at FY2016 ROIC
- EBITDA Margin is expanding: 12.8% in FY2016 vs. 9.2% in FY2015 vs. 9.8% in FY2012
- EBITDA Margin is quite volatile: 12.8% in FY2016, 9.2% in FY2015, 8.0% in FY2014, -2.7% in FY2013, 9.8% in FY2012
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Mangalam Drugs & Organics's Revenue surged on 33.7%. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin increased on 3.5 pp from 9.2% to 12.8% in FY2016. During FY2012-FY2016 EBITDA Margin bottomed in FY2013 at -2.7% and was growing since that time.
Net Income margin increased on 2.7 pp from 2.8% to 5.4% in FY2016. During FY2012-FY2016 Net Income margin bottomed in FY2013 at -9.4% and was growing since that time.
Financial and operational results
Mangalam Drugs & Organics ($MANGALAM) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,532 | 1,253 | 1,227 | 2,206 | 2,950 | 33.7% |
| EBITDA | 150 | -34 | 98 | 204 | 377 | 84.9% |
| Net Income | 6 | -118 | -30 | 61 | 160 | 161.1% |
Balance Sheet
|
|---|
| Cash | 10 | | | | | |
| Short Term Debt | 340 | | | | | |
| Long Term Debt | 220 | | | | | |
Cash flow
|
|---|
| Capex | 63 | | | | | |
Ratios
|
|---|
| Revenue growth | 16.6% | -18.2% | -2.1% | 79.8% | 33.7% | |
| EBITDA growth | 15.8% | -122.4% | -390.0% | 108.9% | 84.9% | |
|
|---|
| EBITDA Margin | 9.8% | -2.7% | 8.0% | 9.2% | 12.8% | 3.5% |
| Net Income Margin | 0.4% | -9.4% | -2.5% | 2.8% | 5.4% | 2.7% |
| CAPEX, % of revenue | 4.1% | | | | | |
|
|---|
| ROIC | 11.6% | | | | | |
| ROE | 1.6% | | | | | |
| Net Debt/EBITDA | 3.7x | | 0.0x | 0.0x | 0.0x |
Peers in Pharmaceuticals
Below we provide Mangalam Drugs & Organics benchmarking against other companies in Pharmaceuticals 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 |
|---|
| Sun Pharmaceutical Industries ($SUNPHARMA) | 39.9% | 40.4% | 42.4% | 70.2% | - |
| Lyka Labs ($LYKALABS) | 41.9% | -25.7% | -22.6% | 68.7% | - |
| Marksans Pharma ($MARKSANS) | 16.7% | 23.3% | 43.3% | 26.8% | - |
| Torrent Cables ($TORRCABS) | 27.5% | 17.4% | -42.9% | 26.5% | - |
| Lincoln Pharmaceuticals ($LINCOPH) | 6.3% | 3.8% | 8.5% | 25.9% | - |
| |
|---|
| Median (41 companies) | 16.7% | 14.9% | 13.7% | 8.6% | 15.1% |
|---|
| Mangalam Drugs & Organics ($MANGALAM) | - | -18.2% | -2.1% | 79.8% | 33.7% |
Top companies by Gross margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Dr.Reddy'S Laboratories ($DRREDDY) | - | 52.1% | 57.4% | 57.6% | 59.6% |
| Omega Laboratories ($OMEGALAB) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (2 companies) | 46.9% | 26.1% | 28.7% | 28.8% | 29.8% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Divi'S Laboratories ($DIVISLAB) | 37.2% | 38.2% | 40.2% | 37.4% | - |
| Hester Biosciences ($HESTERBIO) | - | - | - | 32.9% | - |
| Sun Pharmaceutical Industries ($SUNPHARMA) | 40.8% | 44.3% | 44.9% | 29.2% | - |
| Natco Pharma ($NATCOPHARM) | 21.5% | 23.2% | 24.9% | 26.2% | - |
| Dr.Reddy'S Laboratories ($DRREDDY) | 25.8% | 22.9% | 25.1% | 23.2% | 25.8% |
| |
|---|
| Median (53 companies) | 12.9% | 13.4% | 15.0% | 12.1% | 19.5% |
|---|
| Mangalam Drugs & Organics ($MANGALAM) | 9.8% | -2.7% | 8.0% | 9.2% | 12.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Claris Lifesciences ($CLARIS) | 58.1% | 42.9% | - | 103.1% | 15.8% |
| Wintac ($WINTAC) | - | - | - | 22.8% | - |
| Hester Biosciences ($HESTERBIO) | - | - | - | 21.5% | - |
| Ipca Laboratories ($IPCALAB) | 11.2% | 8.3% | 11.6% | 17.8% | - |
| Natco Pharma ($NATCOPHARM) | 24.4% | 16.3% | 14.4% | 14.1% | - |
| |
|---|
| Median (32 companies) | 8.2% | 7.9% | 5.8% | 6.1% | 9.5% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Marksans Pharma ($MARKSANS) | -142.4% | 34.9% | 33.8% | 41.2% | - |
| Alembic Pharmaceuticals ($APLLTD) | 27.5% | 29.1% | 41.5% | 35.7% | 62.1% |
| Jenburkt Pharmaceuticals ($JENBURPH) | 34.1% | 29.0% | 32.4% | 35.3% | - |
| Abbott India ($ABBOTINDIA) | 29.6% | 26.9% | 30.5% | 34.2% | - |
| Divi'S Laboratories ($DIVISLAB) | 30.6% | 30.4% | 32.3% | 30.5% | - |
| |
|---|
| Median (63 companies) | 14.0% | 13.4% | 15.0% | 13.2% | 17.2% |
|---|
| Mangalam Drugs & Organics ($MANGALAM) | 11.6% | - | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jubilant Life Sciences Limited ($JUBILANT) | 4.0x | 3.5x | 3.5x | 6.4x | - |
| Shasun Pharmaceuticals ($SHASUNPHAR) | 2.8x | 4.5x | 6.0x | 6.2x | - |
| Claris Lifesciences ($CLARIS) | 1.9x | 1.1x | 1.8x | 3.2x | 2.9x |
| Dishman Pharmaceuticals & Chemicals ($DISHMAN) | 3.6x | 2.6x | 2.3x | 2.9x | - |
| Neuland Laboratories ($NEULANDLAB) | 4.2x | 3.5x | 2.6x | 2.6x | - |
| |
|---|
| Median (48 companies) | 1.4x | 1.3x | 0.5x | 0.2x | 1.0x |
|---|
| Mangalam Drugs & Organics ($MANGALAM) | 3.7x | - | 0.0x | 0.0x | 0.0x |
