Rama Phosphates reports 7,354% EBITDA growth in 2016 while 2.5% Revenue decline
19-05-2016 • About Rama Phosphates (
$RAMAPHO) • By InTwits
Rama Phosphates reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 6.7% in FY2016, 0.1% in FY2015, 0.2% in FY2014, 7.7% in FY2013, 11.2% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Rama Phosphates's Revenue decreased on 2.5%. During FY2012-FY2016 Revenue growth bottomed in FY2015 at -25.0%. Despite revenue decline the EBITDA margin expanded. EBITDA Margin increased on 6.6 pp from 0.088% to 6.7% in FY2016. During FY2012-FY2016 EBITDA Margin bottomed in FY2015 at 0.088%.
Net Income margin increased on 4.5 pp from -2.4% to 2.1% in FY2016. During the last 5 years Net Income margin bottomed in FY2015 at -2.4%.
Financial and operational results
Rama Phosphates ($RAMAPHO) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 5,540 | 6,173 | 5,318 | 3,990 | 3,891 | -2.5% |
| EBITDA | 623 | 474 | 12 | 4 | 261 | 7,354.3% |
| Net Income | 336 | 256 | -21 | -98 | 81 | |
Balance Sheet
|
|---|
| Cash | 133 | 58 | | | | |
| Short Term Debt | 460 | 493 | | | | |
| Long Term Debt | 147 | 130 | | | | |
Cash flow
|
|---|
| Capex | 100 | | | | | |
Ratios
|
|---|
| Revenue growth | 56.4% | 11.4% | -13.9% | -25.0% | -2.5% | |
| EBITDA growth | 37.7% | -23.8% | -97.5% | -70.3% | 7,354.3% | |
|
|---|
| EBITDA Margin | 11.2% | 7.7% | 0.2% | 0.1% | 6.7% | 6.6% |
| Net Income Margin | 6.1% | 4.2% | -0.4% | -2.4% | 2.1% | 4.5% |
| CAPEX, % of revenue | 1.8% | | | | | |
|
|---|
| ROIC | 40.0% | 23.5% | | | | |
| ROE | 37.6% | 21.7% | | | | |
| Net Debt/EBITDA | 0.8x | 1.2x | 0.0x | 0.0x | 0.0x |
Peers in Fertilizers
Below you can find Rama Phosphates benchmarking vs. other companies in Fertilizers 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 |
|---|
| Coromandel International ($COROMANDEL) | - | -38.7% | 18.8% | 13.4% | 0.9% |
| Chambal Fertilisers & Chemicals ($CHAMBLFERT) | - | 8.8% | 8.6% | 9.3% | 8.1% |
| Gujarat State Fertilizers & Chemicals ($GSFC) | 11.5% | 17.9% | -13.4% | -1.6% | - |
| Basant Agro Tech (India) ($BASANTGL) | 63.9% | 5.3% | 7.7% | -2.4% | - |
| Khaitan Chemicals & Fertilizers ($KHAICHEM) | 41.2% | -29.1% | -14.7% | -15.2% | - |
| |
|---|
| Median (5 companies) | 41.2% | 5.3% | 7.7% | -1.6% | 4.5% |
|---|
| Rama Phosphates ($RAMAPHO) | - | 11.4% | -13.9% | -25.0% | -2.5% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Coromandel International ($COROMANDEL) | 10.8% | 16.3% | 14.0% | 12.8% | 8.7% |
| Gujarat State Fertilizers & Chemicals ($GSFC) | 22.4% | 13.6% | 12.1% | 12.3% | - |
| Khaitan Chemicals & Fertilizers ($KHAICHEM) | 11.0% | 6.8% | 9.2% | 10.5% | - |
| Basant Agro Tech (India) ($BASANTGL) | 8.7% | 9.4% | 8.6% | 9.1% | - |
| Chambal Fertilisers & Chemicals ($CHAMBLFERT) | 13.2% | 10.7% | 10.6% | 8.2% | 8.3% |
| |
|---|
| Median (5 companies) | 11.0% | 10.7% | 10.6% | 10.5% | 8.5% |
|---|
| Rama Phosphates ($RAMAPHO) | 11.2% | 7.7% | 0.2% | 0.1% | 6.7% |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Gujarat State Fertilizers & Chemicals ($GSFC) | 7.7% | 6.6% | 5.6% | 2.6% | - |
| Chambal Fertilisers & Chemicals ($CHAMBLFERT) | 1.6% | 1.2% | 1.7% | 2.0% | 6.4% |
| Coromandel International ($COROMANDEL) | - | 4.4% | 1.6% | 1.2% | 1.3% |
| |
|---|
| Median (3 companies) | 4.0% | 4.3% | 1.7% | 2.0% | 3.9% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Coromandel International ($COROMANDEL) | 22.2% | 16.7% | 18.3% | 20.5% | 12.5% |
| Gujarat State Fertilizers & Chemicals ($GSFC) | 27.1% | 14.2% | 9.2% | 10.2% | - |
| Chambal Fertilisers & Chemicals ($CHAMBLFERT) | 13.6% | 9.3% | 9.2% | 8.6% | 9.4% |
| Kothari Industrial Corporation ($KOTIC) | - | -5.5% | - | - | - |
| Teesta Agro Industries ($TEEAI) | - | - | - | - | - |
| |
|---|
| Median (7 companies) | 20.1% | 11.1% | 9.2% | 10.2% | 11.0% |
|---|
| Rama Phosphates ($RAMAPHO) | 40.0% | 23.5% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Chambal Fertilisers & Chemicals ($CHAMBLFERT) | 3.3x | 5.4x | 4.5x | 4.5x | 5.4x |
| Coromandel International ($COROMANDEL) | 1.8x | 2.8x | 1.4x | 2.0x | 2.9x |
| Gujarat State Fertilizers & Chemicals ($GSFC) | -0.2x | 1.6x | 0.6x | 0.6x | - |
| Basant Agro Tech (India) ($BASANTGL) | 3.9x | 3.8x | 0.0x | 0.0x | - |
| Khaitan Chemicals & Fertilizers ($KHAICHEM) | 2.4x | 9.0x | 5.3x | 0.0x | - |
| |
|---|
| Median (5 companies) | 2.4x | 3.8x | 1.4x | 0.6x | 2.9x |
|---|
| Rama Phosphates ($RAMAPHO) | 0.8x | 1.2x | 0.0x | 0.0x | 0.0x |
