Nile EBITDA surged on 12.4% and EBITDA Margin showed almost no change
26-05-2016 • About Nile (
$NILE) • By InTwits
Nile reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is relatively stable: 4.5% in FY2016 vs. 4.4% in FY2015 vs. 5.5% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Nile's Revenue jumped on 10.2%. Revenue decline was accompanies by EBITDA margin decline. EBITDA Margin decreased on 6.5 pp from 8.1% to 1.6% in FY2016.
Net Income margin showed almost no change in FY2016.
Financial and operational results
Nile ($NILE) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 3,218 | 2,603 | 2,782 | 3,860 | 4,253 | 10.2% |
| EBITDA | 177 | 147 | 168 | 169 | 190 | 12.4% |
| Net Income | 57 | 198 | 52 | 81 | 71 | -13.0% |
Balance Sheet
|
|---|
| Cash | 92 | 36 | | | | |
| Short Term Debt | 419 | 315 | | | | |
| Long Term Debt | 132 | 95 | | | | |
Cash flow
|
|---|
| Capex | | 11 | | | | |
Ratios
|
|---|
| Revenue growth | 7.5% | -19.1% | 6.9% | 38.7% | 10.2% | |
| EBITDA growth | -7.4% | -17.2% | 14.7% | 0.3% | 12.4% | |
|
|---|
| EBITDA Margin | 5.5% | 5.6% | 6.0% | 4.4% | 4.5% | 0.1% |
| Net Income Margin | 1.8% | 7.6% | 1.9% | 2.1% | 1.7% | -0.4% |
| CAPEX, % of revenue | | 0.4% | | | | |
|
|---|
| ROIC | 15.6% | 11.6% | | | | |
| ROE | 15.3% | 40.9% | | | | |
| Net Debt/EBITDA | 2.6x | 2.6x | 0.0x | 0.0x | 0.0x |
Peers in Iron & Steel Products
Below you can find Nile benchmarking vs. other companies in Iron & Steel Products 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 |
|---|
| Bedmutha Industries ($BEDMUTHA) | - | -7.4% | 2.7% | 44.6% | 52.8% |
| Remi Edelstahl Tubulars ($REMIEDEL) | 40.9% | -10.8% | -24.4% | 40.7% | - |
| Apl Apollo Tubes ($APLAPOLLO) | 54.5% | 44.2% | 24.3% | 25.7% | - |
| Usha Martin ($USHAMART) | - | 7.8% | 12.5% | 12.0% | -9.1% |
| Lakshmi Precision Screws ($LAKPRE) | 9.9% | -6.2% | 7.5% | 7.9% | - |
| |
|---|
| Median (10 companies) | 30.6% | -6.8% | 5.1% | 5.8% | 21.9% |
|---|
| Nile ($NILE) | - | -19.1% | 6.9% | 38.7% | 10.2% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Gandhi Special Tubes ($GANDHITUBE) | - | - | - | 25.5% | - |
| National Fittings ($NATFIT) | - | - | - | 19.3% | - |
| Usha Martin ($USHAMART) | 13.2% | 18.1% | 18.7% | 16.5% | 8.5% |
| Shree Steel Wire Ropes ($SSWRL) | - | - | - | 12.5% | - |
| Lakshmi Precision Screws ($LAKPRE) | 15.9% | 16.2% | 7.0% | 12.4% | - |
| |
|---|
| Median (13 companies) | 5.7% | 6.4% | 6.8% | 5.9% | 5.5% |
|---|
| Nile ($NILE) | 5.5% | 5.6% | 6.0% | 4.4% | 4.5% |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Usha Martin ($USHAMART) | 21.6% | 23.5% | 29.0% | 13.2% | 9.2% |
| Apl Apollo Tubes ($APLAPOLLO) | 5.6% | 4.2% | 5.1% | 5.9% | - |
| Gandhi Special Tubes ($GANDHITUBE) | - | - | - | 4.0% | - |
| |
|---|
| Median (3 companies) | 5.8% | 3.4% | 15.4% | 5.9% | 9.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Apl Apollo Tubes ($APLAPOLLO) | 18.2% | 19.5% | 16.0% | 16.6% | - |
| Lakshmi Precision Screws ($LAKPRE) | 14.4% | 11.9% | 3.1% | 11.9% | - |
| Gandhi Special Tubes ($GANDHITUBE) | 28.3% | 18.9% | 13.2% | 11.1% | 13.3% |
| Usha Martin ($USHAMART) | 4.3% | 6.5% | 7.6% | 5.6% | 0.7% |
| Gujarat Containers ($GUJCONT) | - | 20.0% | - | - | - |
| |
|---|
| Median (23 companies) | 8.5% | 7.2% | 6.7% | 11.5% | 7.0% |
|---|
| Nile ($NILE) | 15.6% | 11.6% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Usha Martin ($USHAMART) | 10.0x | 4.8x | 4.8x | 5.2x | 11.4x |
| Lakshmi Precision Screws ($LAKPRE) | 2.7x | 3.4x | 8.1x | 4.4x | - |
| Apl Apollo Tubes ($APLAPOLLO) | 2.7x | 2.8x | 3.1x | 2.3x | - |
| Uni Abex Alloy Products ($UNIABEXAL) | 0.0x | 1.6x | 0.0x | 0.0x | - |
| National Fittings ($NATFIT) | 0.8x | 0.1x | 0.0x | 0.0x | - |
| |
|---|
| Median (11 companies) | 2.6x | 3.9x | 0.0x | 0.0x | 0.0x |
|---|
| Nile ($NILE) | 2.6x | 2.6x | 0.0x | 0.0x | 0.0x |
