Hitech Plast revenue dropped on 15.5%
23-05-2016 • About Hitech Plast (
$HITECHPLAS) • By InTwits
Hitech Plast reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 15.5%. Revenue decline was accelerating on average at -6.7 pp per annum in FY2012-FY2016.
Net Income margin increased on 2.1 pp from 1.5% to 3.6% in FY2016. During FY2012-FY2016 Net Income margin bottomed in FY2014 at 1.4% and was growing since that time.
Leverage (Debt)
Debt level is 0.6x Net Debt / EBITDA and 0.7x Debt / EBITDA. Net Debt / EBITDA surged0.6x from to 0.6x in FY2016. Debt surged while cash surged.
Hitech Plast has short term refinancing risk: cash is only 7.1% of short term debt.
Valuation and dividends
Hitech Plast's trades at EV/EBITDA 6.7x and P/E 19.8x while industy averages are 17.8x and 21.9x.
Management team
Hitech Plast's CFO is Bharat I Gosalia. Bharat I Gosalia has 6 years tenure at the company.
Financial and operational results
Hitech Plast ($HITECHPLAS) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 3,856 | 4,369 | 4,576 | 4,623 | 3,907 | -15.5% |
| EBITDA | 465 | 462 | 487 | | 455 | |
| Net Income | 107 | 90 | 64 | 70 | 141 | 101.6% |
Balance Sheet
|
|---|
| Cash | 17 | 64 | 32 | | 18 | |
| Short Term Debt | 830 | 479 | 483 | | 246 | |
| Long Term Debt | 352 | 407 | 292 | | 52 | |
Cash flow
|
|---|
| Capex | 342 | | | | | |
Ratios
|
|---|
| Revenue growth | 11.8% | 13.3% | 4.7% | 1.0% | -15.5% | |
| EBITDA growth | -0.2% | -0.6% | 5.3% | | | |
|
|---|
| EBITDA Margin | 12.1% | 10.6% | 10.6% | | 11.6% |
| Net Income Margin | 2.8% | 2.1% | 1.4% | 1.5% | 3.6% | 2.1% |
| CAPEX, % of revenue | 8.9% | | | | | |
|
|---|
| ROIC | 13.8% | 12.6% | 14.0% | | | |
| ROE | 12.8% | 9.9% | 6.5% | | | |
| Net Debt/EBITDA | 2.5x | 1.8x | 1.5x | | 0.6x |
Peers in Containers & Packaging
Below you can find Hitech Plast benchmarking vs. other companies in Containers & Packaging 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 |
|---|
| Control Print ($CONTROLPR) | - | 20.0% | 14.1% | 23.9% | - |
| Shri Jagdamba Polymers ($SHRJAGP) | 35.5% | 38.3% | 21.7% | 22.7% | - |
| Kg Petrochem ($KGPETRO) | 16.1% | 24.0% | 20.9% | 22.4% | - |
| Kanpur Plastipack ($KANPRPLA) | - | -4.6% | 21.1% | 15.9% | -0.0% |
| Emmbi Industries ($EMMBI) | - | 36.6% | 13.9% | 14.8% | 13.3% |
| |
|---|
| Median (19 companies) | 24.4% | 16.9% | 14.1% | 8.5% | -0.8% |
|---|
| Hitech Plast ($HITECHPLAS) | - | 13.3% | 4.7% | 1.0% | -15.5% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Control Print ($CONTROLPR) | 13.9% | 19.2% | 22.5% | 25.2% | - |
| Manaksia ($MANAKSIA) | 14.4% | 17.4% | 20.3% | 18.6% | - |
| Essel Propack ($ESSELPRO) | 17.0% | 17.4% | 16.9% | 17.2% | 19.4% |
| Time Technoplast ($TIMETECHNO) | 15.9% | 16.2% | 14.1% | 13.7% | - |
| Piramal Glass ($PIRAMGLAS) | 23.7% | 18.9% | 15.5% | 13.5% | - |
| |
|---|
| Median (23 companies) | 12.9% | 11.3% | 12.2% | 8.9% | 13.3% |
|---|
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Control Print ($CONTROLPR) | 3.0% | 5.0% | 7.5% | 11.9% | - |
| Essel Propack ($ESSELPRO) | 10.0% | 6.7% | 8.5% | 9.4% | 8.9% |
| Manaksia ($MANAKSIA) | 9.0% | 4.8% | 4.7% | 6.5% | - |
| Piramal Glass ($PIRAMGLAS) | 20.7% | 6.0% | 7.7% | 4.6% | - |
| Time Technoplast ($TIMETECHNO) | 17.9% | 11.1% | 6.2% | 4.2% | - |
| |
|---|
| Median (7 companies) | 8.6% | 6.7% | 6.7% | 4.6% | 8.9% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Control Print ($CONTROLPR) | - | 19.7% | 22.2% | 25.2% | - |
| Essel Propack ($ESSELPRO) | 8.6% | 9.9% | 12.5% | 14.7% | 16.6% |
| Time Technoplast ($TIMETECHNO) | 12.8% | 13.4% | 12.0% | 12.9% | - |
| Manaksia ($MANAKSIA) | 12.9% | 15.5% | 16.0% | 11.4% | - |
| Uflex ($UFLEX) | 12.5% | 9.9% | 8.1% | 8.4% | - |
| |
|---|
| Median (32 companies) | 9.1% | 9.9% | 11.2% | 11.4% | 16.6% |
|---|
| Hitech Plast ($HITECHPLAS) | 13.8% | 12.6% | 14.0% | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Hindusthan National Glass & Industries ($HINDNATGLS) | 7.4x | 15.8x | 11.2x | 10.6x | - |
| Piramal Glass ($PIRAMGLAS) | 3.1x | 4.1x | 4.3x | 4.2x | - |
| Uflex ($UFLEX) | 2.7x | 3.0x | 3.2x | 2.8x | - |
| Essel Propack ($ESSELPRO) | 3.2x | 2.9x | 2.6x | 2.2x | 1.6x |
| Time Technoplast ($TIMETECHNO) | 2.6x | 2.6x | 2.6x | 2.2x | - |
| |
|---|
| Median (21 companies) | 3.2x | 3.5x | 1.4x | 0.0x | 0.0x |
|---|
