Tayo Rolls revenue decline accelerated from 6.6% in FY2015 to 9.4% in FY2016
26-05-2016 • About Tayo Rolls (
$TATAYODOGA) • By InTwits
Tayo Rolls reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- The company operates at negative EBITDA Margin: -33.3%
- Tayo Rolls spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -11.8%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue decreased on 9.4%.
Net Income margin dropped on 78.3 pp from -50.2% to -129% in FY2016.
Financial and operational results
Tayo Rolls ($TATAYODOGA) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,346 | 1,680 | 1,441 | 1,346 | 1,220 | -9.4% |
| EBITDA | -162 | -110 | -155 | | -407 | |
| Net Income | -531 | -337 | -750 | -676 | -1,569 | |
Balance Sheet
|
|---|
| Cash | 390 | 157 | 275 | | | |
| Short Term Debt | 611 | 919 | 777 | | | |
| Long Term Debt | 680 | 584 | 369 | | | |
Cash flow
|
|---|
| Capex | | 113 | | | | |
Ratios
|
|---|
| Revenue growth | 5.0% | 24.8% | -14.2% | -6.6% | -9.4% | |
| EBITDA growth | -14.1% | -32.5% | 41.2% | | | |
|
|---|
| EBITDA Margin | -12.1% | -6.5% | -10.7% | | -33.3% |
| Net Income Margin | -39.5% | -20.1% | -52.1% | -50.2% | -128.6% | -78.3% |
| CAPEX, % of revenue | | 6.8% | | | | |
|
|---|
| ROIC | -16.1% | -14.8% | -20.6% | | | |
| ROE | -83.5% | | | | | |
Peers in Iron & Steel/Interm.Products
Below you can find Tayo Rolls benchmarking vs. other companies in Iron & Steel/Interm.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 |
|---|
| Uttam Galva Steels ($UTTAMSTL) | 12.0% | 11.0% | -13.2% | 55.0% | - |
| Modern Steels ($MDRNSTL) | -2.6% | -22.7% | 0.7% | 20.3% | - |
| Maithan Alloys ($MAITHANALL) | - | 59.1% | 1.1% | 15.0% | 4.0% |
| Pennar Industries ($PENIND) | - | -8.5% | 0.5% | 12.7% | 3.4% |
| Vaswani Industries ($VASWANI) | 51.4% | -2.1% | 5.6% | 12.6% | - |
| |
|---|
| Median (32 companies) | 14.6% | 3.2% | 3.4% | -0.4% | -15.4% |
|---|
| Tayo Rolls ($TATAYODOGA) | - | 24.8% | -14.2% | -6.6% | -9.4% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jindal Steel & Power ($JINDALSTEL) | 37.5% | 30.5% | 28.1% | 29.8% | 17.2% |
| Sarda Energy & Minerals ($SARDAEN) | 16.3% | 21.5% | 21.3% | 21.5% | - |
| Bhushan Steel ($BHUSANSTL) | 31.2% | 32.3% | 28.1% | 20.4% | - |
| Jsw Steel ($JSWSTEEL) | 17.8% | 17.1% | 17.9% | 17.7% | 14.6% |
| Tata Metaliks ($TATAMETALI) | -9.6% | 0.9% | 6.8% | 14.6% | 16.8% |
| |
|---|
| Median (30 companies) | 9.5% | 9.2% | 7.4% | 7.3% | 11.4% |
|---|
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jindal Steel & Power ($JINDALSTEL) | 34.2% | 47.6% | 69.6% | 26.4% | 21.8% |
| Jayaswal Neco Industries ($JAYNECOIND) | 20.4% | 44.0% | 31.1% | 17.3% | - |
| Steel Authority Of India ($SAIL) | 20.9% | 20.7% | 19.3% | 16.9% | 17.3% |
| Bhushan Steel ($BHUSANSTL) | 47.2% | 44.0% | 50.4% | 16.2% | - |
| Jsw Steel ($JSWSTEEL) | 11.9% | 14.7% | 11.3% | 12.7% | 12.4% |
| |
|---|
| Median (18 companies) | 9.1% | 11.6% | 7.1% | 4.9% | 8.8% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Tata Metaliks ($TATAMETALI) | -23.5% | -3.7% | 19.9% | 57.4% | 42.6% |
| Pennar Industries ($PENIND) | 26.8% | 18.4% | 12.3% | 15.7% | 16.6% |
| Maithan Alloys ($MAITHANALL) | 16.3% | 15.1% | 5.5% | 15.3% | 19.0% |
| Kirloskar Ferrous Industries ($KIRLFER) | 19.1% | 16.8% | 12.4% | 14.7% | 15.9% |
| Gallantt Metal ($GALLANTT) | 8.7% | 11.7% | 8.5% | 11.7% | - |
| |
|---|
| Median (40 companies) | 7.2% | 5.7% | 6.0% | 5.0% | 4.3% |
|---|
| Tayo Rolls ($TATAYODOGA) | -16.1% | -14.8% | -20.6% | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Visa Steel ($VISASTEEL) | 20.1x | - | 24.4x | 187.1x | - |
| Ismt ($ISMTLTD) | 5.3x | 9.8x | 19.9x | 48.3x | - |
| Kic Metaliks ($KAJARIR) | 9.2x | 3.0x | 18.2x | 19.8x | - |
| Bhushan Steel ($BHUSANSTL) | 6.3x | 8.6x | 12.9x | 17.7x | - |
| Prakash Industries ($PRAKASH) | 2.5x | 2.8x | 2.5x | 11.9x | 3.4x |
| |
|---|
| Median (27 companies) | 4.5x | 4.3x | 3.3x | 1.8x | 0.9x |
|---|
