Kanpur Plastipack reports 43.7% Net Income growth in 2016 and almost no change in Revenue of 2,460

23-05-2016 • About Kanpur Plastipack ($KANPRPLA) • By InTwits

Kanpur Plastipack 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 showed almost no change in FY2016. Revenue decline happened at the same time with EBITDA margin expansion. EBITDA Margin increased on 3.4 pp from 11.9% to 15.3% in FY2016.

Net Income margin increased on 2.0 pp from 4.7% to 6.7% in FY2016.

Management team

Kanpur Plastipack's CEO is Manoj Agarwal. Manoj Agarwal has 15 years tenure with the company.

Financial and operational results

Kanpur Plastipack ($KANPRPLA) key annual financial indicators

mln. INR	2012	2013	2014	2015	2016	2016/2015
P&L
Revenue	1,836	1,752	2,122	2,460	2,460	-0.0%
EBITDA	239	231		293	375	28.2%
Net Income	104	88	109	114	165	43.7%
Balance Sheet
Cash	19	18
Short Term Debt	362	470
Long Term Debt	226	263
Cash flow
Capex	88
Ratios
Revenue growth	57.2%	-4.6%	21.1%	15.9%	-0.0%
EBITDA growth	120.8%	-3.1%			28.2%

EBITDA Margin	13.0%	13.2%		11.9%	15.3%	3.4%
Net Income Margin	5.6%	5.0%	5.1%	4.7%	6.7%	2.0%
CAPEX, % of revenue	4.8%

ROIC	25.0%	19.2%
ROE	44.2%	27.5%
Net Debt/EBITDA	2.4x	3.1x		0.0x	0.0x

Peers in Containers & Packaging

Below we provide Kanpur Plastipack benchmarking against other companies in Containers & Packaging 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
Control Print ($CONTROLPR)	-	20.0%	14.1%	23.9%	-
Shri Jagdamba Polymers ($SHRJAGP)	35.5%	38.3%	21.7%	22.7%	-
Kg Petrochem ($KGPETRO)	16.1%	24.0%	20.9%	22.4%	-
Emmbi Industries ($EMMBI)	-	36.6%	13.9%	14.8%	13.3%
Time Technoplast ($TIMETECHNO)	19.8%	17.6%	21.6%	13.3%	-
Median (19 companies)	24.4%	16.9%	13.9%	8.4%	-3.3%
Kanpur Plastipack ($KANPRPLA)	-	-4.6%	21.1%	15.9%	-0.0%

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 ($PIRAMGLAS)	23.7%	18.9%	15.5%	13.5%	-
Median (22 companies)	12.9%	10.6%	12.2%	8.8%	12.0%
Kanpur Plastipack ($KANPRPLA)	13.0%	13.2%	-	11.9%	15.3%

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)	8.9%	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 ($UFLEX)	12.5%	9.9%	8.1%	8.4%	-
Median (32 companies)	9.1%	9.9%	11.6%	11.4%	16.6%
Kanpur Plastipack ($KANPRPLA)	25.0%	19.2%	-	-	-

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 ($TIMETECHNO)	2.6x	2.6x	2.6x	2.2x	-
Median (20 companies)	3.2x	3.5x	1.5x	0.0x	0.0x
Kanpur Plastipack ($KANPRPLA)	2.4x	3.1x	-	0.0x	0.0x

Kanpur Plastipack stock price chart

Kanpur Plastipack financials

mln.	FY2010	FY2011	FY2012

Revenue	2,868	1,168	1,836
EBITDA	87.811	108.1	238.8
Net income	27.108	30.335	103.7
CAPEX	33.854	148.7	87.686
Debt	351.4	524.9	588.1
Cash	1.744	4.641	18.526

About Kanpur Plastipack

Kanpur Plastipack Limited manufactures and sells flexible intermediate bulk container products. It also offers HDPE/PP woven sacks and bags, including laminated and unlaminated bags, printed and unprinted bags, pallet covers, food grain bags, fertilizer bags, and cement bags, as well as valve bags, bale wraps, liner bags, and gusseted bags. In addition, the company provides PP/HDPE woven fabrics that comprise laminated, unlaminated, circular, and circular cut open fabrics; and various accessories used in the manufacture of FIBCs and woven bags, including webbings, PP filler cords, dust proof cords, tie strings, B-locks, and velcro. Further, it offers ventilated interlocked, ventilated without interlocked, conductive, and food grade application fabrics; and a range of polypropylene multi filament yarn used in various industries. Additionally, the company acts as a consignment stockist of Indian Oil Corporation Limited and JJ Plastalloy Private Limited. Kanpur Plastipack Limited also exports its products worldwide. Kanpur Plastipack Limited was founded in 1971 and is based in Kanpur, India.