Shiva Texyarn EBITDA Margin jumped on 12.3 pp from to 12.3% in 2016

25-05-2016 • About Shiva Texyarn ($SHIVTEX) • By InTwits

Shiva Texyarn 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 decreased on 3.4%.

Net Income margin increased slightly on 0.51 pp from 1.9% to 2.5% in FY2016.

Financial and operational results

Shiva Texyarn ($SHIVTEX) key annual financial indicators

mln. INR	2012	2013	2014	2015	2016	2016/2015
P&L
Revenue	3,319	4,105	5,045	4,575	4,421	-3.4%
EBITDA	168	715	724		543
Net Income	-194	223	209	89	108	22.0%
Balance Sheet
Cash	88	196
Short Term Debt	1,098	438
Long Term Debt	1,785	1,432
Cash flow
Capex	139
Ratios
Revenue growth	-16.4%	23.7%	22.9%	-9.3%	-3.4%
EBITDA growth	-79.1%	325.9%	1.2%

EBITDA Margin	5.1%	17.4%	14.4%		12.3%
Net Income Margin	-5.9%	5.4%	4.1%	1.9%	2.5%	0.5%
CAPEX, % of revenue	4.2%

ROIC	-0.4%	13.7%
ROE	-16.6%	19.0%
Net Debt/EBITDA	16.6x	2.3x	0.0x		0.0x

Peers in Textiles

Below we provide Shiva Texyarn benchmarking against other companies in Textiles 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
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)	-	23.0%	24.4%	103.9%	-47.3%
Blue Chip Tex Industries ($BLUECHIPT)	-	12.9%	29.9%	56.1%	23.7%
Median (74 companies)	4.5%	8.9%	14.3%	0.2%	-2.7%
Shiva Texyarn ($SHIVTEX)	-	23.7%	22.9%	-9.3%	-3.4%

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 (86 companies)	6.5%	9.3%	9.5%	7.2%	8.9%

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)	3.2%	5.6%	6.8%	6.7%	5.4%

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 ($ARVIND)	11.3%	11.2%	13.7%	13.2%	13.1%
Median (127 companies)	3.6%	8.9%	8.9%	9.5%	12.4%
Shiva Texyarn ($SHIVTEX)	-0.4%	13.7%	-	-	-

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 (71 companies)	3.8x	3.2x	0.0x	0.0x	0.0x

Shiva Texyarn stock price chart

Shiva Texyarn financials

mln.	FY2010	FY2011	FY2012

Revenue	5,505	3,973	3,319
EBITDA	327.0	804.2	167.9
Net income	51.847	266.0	-194.235
CAPEX	685.7	630.5	139.1
Debt	3,175	3,576	2,883
Cash	203.3	195.0	88.418

About Shiva Texyarn

Shiva Texyarn Limited manufactures and markets cotton yarn and other value added textile products primarily in India. The company provides knitted fabrics and garments; coated fabrics, such as acrylic and PU coated, and artist and digital canvas fabrics; and laminated fabrics, including aero stat fabrics, CBRN garments, CBRN tents and decontamination systems, and low temp and high altitude fabrics, as well as other technical textile products. It is also involved in the generation of wind power through its 80 windmills with an installed capacity of 28.795 MW. The company also exports its products. Shiva Texyarn Limited was incorporated in 1980 and is based in Coimbatore, India.