Suryalata Spinning Mills EBITDA dropped on 17.5% and EBITDA Margin decreased slightly on 1.5 pp from 10.4% to 8.8%

23-05-2016 • About Suryalata Spinning Mills ($SURYALA) • By InTwits

Suryalata Spinning Mills 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

Suryalata Spinning Mills's Revenue decreased on 3.2%. During FY2012-FY2016 Revenue growth topped in FY2014 at 37.4% and was decelerating since that time. Revenue decline was accompanies by EBITDA margin decline. EBITDA Margin decreased slightly on 1.5 pp from 10.4% to 8.8% in FY2016.

Net Income margin decreased slightly on 0.74 pp from 3.5% to 2.7% in FY2016.

Financial and operational results

Suryalata Spinning Mills ($SURYALA) key annual financial indicators

mln. INR	2012	2013	2014	2015	2016	2016/2015
P&L
Revenue	2,526	2,695	3,703	3,654	3,537	-3.2%
EBITDA	192	326	342	379	312	-17.5%
Net Income	44	81	89	127	96	-24.0%
Balance Sheet
Cash	4	6
Short Term Debt	384	371
Long Term Debt	309	771
Cash flow
Ratios
Revenue growth	3.5%	6.7%	37.4%	-1.3%	-3.2%
EBITDA growth	-56.4%	70.1%	4.9%	10.8%	-17.5%

EBITDA Margin	7.6%	12.1%	9.2%	10.4%	8.8%	-1.5%
Net Income Margin	1.7%	3.0%	2.4%	3.5%	2.7%	-0.7%

ROIC	9.5%	16.0%
ROE	10.0%	15.0%
Net Debt/EBITDA	3.6x	3.5x	0.0x	0.0x	0.0x

Peers in Textiles

Below you can find Suryalata Spinning Mills benchmarking vs. other companies in Textiles 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
Olympia Industries ($OLYMPTX)	-58.0%	-96.6%	74,809.1%	1,749.9%	-
Shri Dinesh Mills ($SHRIDINE)	5.0%	5.1%	-76.5%	304.9%	-
Santaram Spinners ($SANTASPN)	6.0%	60.7%	-40.9%	112.0%	-
Asahi Industries ($ASAHIIND)	36.2%	23.0%	24.4%	103.9%	-
Blue Chip Tex Industries ($BLUECHIPT)	-	12.9%	29.9%	56.1%	23.7%
Median (74 companies)	5.0%	9.7%	14.3%	0.2%	1.5%
Suryalata Spinning Mills ($SURYALA)	-	6.7%	37.4%	-1.3%	-3.2%

Top companies by EBITDA margin, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Sil Investments ($SILINV)	-	-	-	93.8%	-
Swadeshi Polytex ($SWADPOL)	-	-	-	64.4%	-
Binny ($BINNY)	-	-	-	60.9%	-
Ruby Mills ($RUBYMILLS)	28.3%	25.1%	28.6%	29.3%	-
Premier Synthetics ($PREMSYN)	-	-	-	25.9%	-
Median (85 companies)	6.2%	9.3%	9.8%	7.0%	11.1%
Suryalata Spinning Mills ($SURYALA)	7.6%	12.1%	9.2%	10.4%	8.8%

Top companies by CAPEX/Revenue, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Nitin Spinners ($NITINSPIN)	1.9%	2.6%	8.0%	42.3%	4.7%
Maharaja Shree Umaid Mills ($MAHASHR)	18.6%	24.1%	6.8%	16.8%	-
Jindal Worldwide ($JINDWORLD)	3.0%	10.5%	20.7%	11.6%	-
SRF ($SRF)	0.0%	18.7%	20.0%	11.4%	13.0%
Welspun India ($WELSPUNIND)	5.6%	7.8%	16.4%	10.9%	17.7%
Median (21 companies)	3.4%	5.6%	6.8%	6.7%	6.2%

Top companies by ROIC, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Welspun India ($WELSPUNIND)	9.3%	15.6%	8.5%	21.9%	25.2%
Maharaja Shree Umaid Mills ($MAHASHR)	-0.5%	9.2%	8.3%	20.4%	-
Nitin Spinners ($NITINSPIN)	6.0%	19.5%	21.5%	17.5%	17.8%
Sutlej Textiles & Industries ($SUTLEJTEX)	9.5%	13.6%	19.8%	14.6%	14.4%
Arvind ($ARVIND)	11.3%	11.2%	13.7%	13.2%	13.1%
Median (127 companies)	3.5%	8.9%	8.9%	9.5%	12.8%
Suryalata Spinning Mills ($SURYALA)	9.5%	16.0%	-	-	-

Top companies by Net Debt / EBITDA


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Bombay Rayon Fashions ($BRFL)	4.9x	4.9x	11.6x	10.0x	7.3x
Ruby Mills ($RUBYMILLS)	12.6x	15.3x	10.8x	8.6x	-
Dcm ($DCM)	13.5x	3.5x	3.7x	5.5x	-
Nahar Spinning Mills ($NAHARSPING)	70.8x	3.8x	3.2x	4.9x	-
Rai Saheb Rekhchand Mohota Spg.& Wvg.Mills ($RAIREKMOH)	10.0x	0.0x	0.0x	4.6x	-
Median (70 companies)	3.8x	3.2x	0.0x	0.0x	0.5x
Suryalata Spinning Mills ($SURYALA)	3.6x	3.5x	0.0x	0.0x	0.0x

Suryalata Spinning Mills stock price chart

Suryalata Spinning Mills financials

mln.	FY2010	FY2011	FY2012

Revenue	4,341	2,439	2,526
EBITDA	194.7	439.2	191.6
Net income	57.224	197.9	44.000
CAPEX	193.3	156.2	0.000
Debt	747.7	779.7	693.1
Cash	1.847	15.309	4.200

About Suryalata Spinning Mills

Suryalata Spinning Mills Limited engages in developing, manufacturing, and marketing yarn products in India. The company offers polyester and viscose spun yarns, polyester/viscose blended yarns, polyester sewing threads, and melange yarns, as well as specialized yarns consisting of slub, fancy, and micro yarns. Its products are used for knitting, weaving, and technical applications. The company also exports its products primarily to Argentina, Bangladesh, Brazil, Canada, Indonesia, Korea, Mexico, Peru, Portugal, Spain, Switzerland, Taiwan, Turkey, the United States, and the United Kingdom. Suryalata Spinning Mills Limited was founded in 1983 and is based in Secunderabad, India.