Mukand Engineers EBITDA dropped on 103% and Revenue dropped on 20.2%
20-05-2016 • About Mukand Engineers (
$MUKANDENGG) • By InTwits
Mukand Engineers reported FY2016 financial results today. Here are the key drivers of the company's long term financial model: It operates with medium-size leverage: Net Debt/EBITDA is 3.7x while industry average is 4.6x.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Mukand Engineers's Revenue dropped on 20.2%. Revenue decline was accompanies by EBITDA margin decline. EBITDA Margin decreased on 5.2 pp from 5.1% to -0.18% in FY2016.
Net Income margin decreased on 7.3 pp from 1.3% to -6.0% in FY2016. Net Income margin stuck to a declining trend at -2.6 pp per annum in FY2012-FY2016.
Financial and operational results
Mukand Engineers ($MUKANDENGG) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 651 | 760 | 855 | 1,393 | 1,111 | -20.2% |
| EBITDA | 84 | 87 | | 71 | -2 | -102.8% |
| Net Income | 33 | 36 | 18 | 18 | -67 | -475.3% |
Balance Sheet
|
|---|
| Cash | 11 | 9 | | | | |
| Short Term Debt | 302 | 301 | | | | |
| Long Term Debt | 117 | 154 | | | | |
Cash flow
|
|---|
| Capex | 13 | | | | | |
Ratios
|
|---|
| Revenue growth | -14.3% | 16.7% | 12.4% | 63.0% | -20.2% | |
| EBITDA growth | -39.0% | 3.4% | | | -102.8% | |
|
|---|
| EBITDA Margin | 12.8% | 11.4% | | 5.1% | -0.2% | -5.2% |
| Net Income Margin | 5.1% | 4.8% | 2.1% | 1.3% | -6.0% | -7.3% |
| CAPEX, % of revenue | 1.9% | | | | | |
|
|---|
| ROIC | 7.7% | 7.5% | | | | |
| ROE | 6.0% | 6.4% | | | | |
| Net Debt/EBITDA | 4.9x | 5.2x | | 0.0x | |
Peers in Construction & Engineering
Below we provide Mukand Engineers benchmarking against other companies in Construction & Engineering 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 |
|---|
| Thirthankar Infra ($THIRINFRA) | - | - | - | 258.2% | - |
| Welspun Projects ($WELPROJ) | 41.2% | -8.9% | -20.7% | 239.1% | - |
| Itd Cementation India ($ITDCEM) | -3.7% | -4.0% | 8.5% | 79.2% | - |
| Atlanta ($ATLANTA) | -47.6% | 115.1% | 28.1% | 50.2% | - |
| Spml Infra ($SPMLINFRA) | -17.1% | 19.3% | 6.6% | 35.0% | - |
| |
|---|
| Median (32 companies) | 7.0% | 6.7% | 6.6% | -0.0% | -8.2% |
|---|
| Mukand Engineers ($MUKANDENGG) | - | 16.7% | 12.4% | 63.0% | -20.2% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Madhucon Projects ($MADHUCON) | 8.4% | 31.9% | 22.1% | 32.1% | - |
| Jaiprakash Associates ($JPASSOCIAT) | 36.9% | 35.9% | 32.4% | 31.5% | - |
| Arss Infrastructure Projects ($ARSSINFRA) | 14.0% | 13.9% | 22.0% | 31.3% | - |
| Reliance Industrial Infrastructure ($RIIL) | - | - | - | 30.8% | - |
| Shristi Infrastructure Development Corporation ($SHRISTI) | 27.2% | 30.0% | 30.0% | 29.8% | - |
| |
|---|
| Median (36 companies) | 11.9% | 11.2% | 10.4% | 10.3% | 12.3% |
|---|
| Mukand Engineers ($MUKANDENGG) | 12.8% | 11.4% | - | 5.1% | -0.2% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Madhucon Projects ($MADHUCON) | 234.5% | 155.1% | 76.0% | 67.4% | - |
| Supreme Infrastructure India ($SUPREMEINF) | 46.6% | 31.1% | 43.1% | 45.8% | - |
| Shristi Infrastructure Development Corporation ($SHRISTI) | 0.0% | 11.2% | 14.1% | 40.8% | - |
| Jaiprakash Associates ($JPASSOCIAT) | 97.0% | 65.5% | 45.0% | 31.6% | - |
| Man Infraconstruction ($MANINFRA) | 7.8% | 1.6% | 25.0% | 18.6% | 4.5% |
| |
|---|
| Median (24 companies) | 7.7% | 6.6% | 5.4% | 3.1% | 3.0% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Skipper ($SKIPPER) | 10.4% | 13.5% | 14.7% | 27.4% | 24.4% |
| Voltas ($VOLTAS) | 19.6% | 11.7% | 11.8% | 19.3% | 18.2% |
| Coromandel Engineering Company ($COROENGG) | -21.9% | 3.4% | -0.3% | 15.0% | 7.9% |
| Mbl Infrastructures ($MBLINFRA) | 21.3% | 13.4% | 14.0% | 13.6% | - |
| Itd Cementation India ($ITDCEM) | 13.1% | 11.3% | 3.8% | 12.6% | - |
| |
|---|
| Median (42 companies) | 8.6% | 7.1% | 5.9% | 6.7% | 7.1% |
|---|
| Mukand Engineers ($MUKANDENGG) | 7.7% | 7.5% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Mcnally Bharat Engineering Company ($MBECL) | 4.3x | 7.0x | 7.6x | 28.3x | - |
| Jaiprakash Associates ($JPASSOCIAT) | 9.2x | 8.9x | 11.0x | 11.9x | - |
| Supreme Infrastructure India ($SUPREMEINF) | 6.0x | 6.1x | 6.8x | 11.3x | - |
| Madhucon Projects ($MADHUCON) | 96.8x | 19.0x | 16.4x | 9.8x | - |
| Shristi Infrastructure Development Corporation ($SHRISTI) | 11.8x | 8.6x | 7.9x | 9.4x | - |
| |
|---|
| Median (30 companies) | 4.5x | 5.7x | 6.4x | 3.1x | 2.1x |
|---|
| Mukand Engineers ($MUKANDENGG) | 4.9x | 5.2x | - | 0.0x | - |
