Arss Infrastructure Projects EBITDA Margin dropped on 31.3 pp from 31.3% to in 2016
27-05-2016 • About Arss Infrastructure Projects (
$ARSSINFRA) • By InTwits
Arss Infrastructure Projects reported FY2016 financial results today. Here are the key drivers of the company's long term financial model: Arss Infrastructure Projects is a company in decline: FY2016 revenue growth was -4.9%, 5 years revenue CAGR was -13.0%.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Arss Infrastructure Projects's Revenue decreased on 4.9%.
Net Income margin showed almost no change in FY2016.
Financial and operational results
Arss Infrastructure Projects ($ARSSINFRA) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 11,827 | 7,710 | 9,083 | 6,555 | 6,233 | -4.9% |
| EBITDA | 1,651 | 1,070 | 1,994 | 2,054 | | |
| Net Income | -296 | -646 | 17 | 62 | 50 | -19.3% |
Balance Sheet
|
|---|
| Cash | 110 | 947 | | | | |
| Short Term Debt | 7,227 | 6,825 | | | | |
| Long Term Debt | 2,889 | 6,590 | | | | |
Cash flow
|
|---|
| Capex | 269 | | | | | |
Ratios
|
|---|
| Revenue growth | -5.3% | -34.8% | 17.8% | -27.8% | -4.9% | |
| EBITDA growth | -39.5% | -35.2% | 86.4% | 3.0% | | |
|
|---|
| EBITDA Margin | 14.0% | 13.9% | 22.0% | 31.3% | |
| Net Income Margin | -2.5% | -8.4% | 0.2% | 0.9% | 0.8% | -0.1% |
| CAPEX, % of revenue | 2.3% | | | | | |
|
|---|
| ROIC | 8.9% | 4.5% | | | | |
| ROE | -6.8% | -16.4% | | | | |
| Net Debt/EBITDA | 6.1x | 11.7x | 0.0x | 0.0x | |
Peers in Construction & Engineering
Below we provide Arss Infrastructure Projects benchmarking against other companies in Construction & Engineering 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 |
|---|
| Thirthankar Infra ($THIRINFRA) | - | - | - | 258.2% | - |
| Welspun Projects ($WELPROJ) | - | -8.9% | -20.7% | 239.1% | -73.2% |
| Itd Cementation India ($ITDCEM) | -3.7% | -4.0% | 8.5% | 79.2% | - |
| Mukand Engineers ($MUKANDENGG) | - | 16.7% | 12.4% | 63.0% | -20.2% |
| Atlanta ($ATLANTA) | - | 115.1% | 28.1% | 50.2% | -70.5% |
| |
|---|
| Median (32 companies) | 4.2% | 6.9% | 6.6% | 1.2% | -3.7% |
|---|
| Arss Infrastructure Projects ($ARSSINFRA) | - | -34.8% | 17.8% | -27.8% | -4.9% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Madhucon Projects ($MADHUCON) | 8.4% | 31.9% | 22.1% | 32.1% | - |
| Jaiprakash Associates ($JPASSOCIAT) | 36.9% | 35.9% | 32.4% | 31.5% | - |
| Reliance Industrial Infrastructure ($RIIL) | - | - | - | 30.8% | - |
| Shristi Infrastructure Development Corporation ($SHRISTI) | 27.2% | 30.0% | 30.0% | 29.8% | 29.6% |
| Atlanta ($ATLANTA) | 28.5% | 34.6% | 30.8% | 21.4% | 8.2% |
| |
|---|
| Median (36 companies) | 11.9% | 11.2% | 10.2% | 10.1% | 10.2% |
|---|
| Arss Infrastructure Projects ($ARSSINFRA) | 14.0% | 13.9% | 22.0% | 31.3% | - |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Madhucon Projects ($MADHUCON) | 234.5% | 155.1% | 76.0% | 67.4% | - |
| Supreme Infrastructure India ($SUPREMEINF) | 46.6% | 31.1% | 43.1% | 45.8% | - |
| Shristi Infrastructure Development Corporation ($SHRISTI) | 0.0% | 11.2% | 14.1% | 40.8% | 25.2% |
| Jaiprakash Associates ($JPASSOCIAT) | 97.0% | 65.5% | 45.0% | 31.6% | - |
| Man Infraconstruction ($MANINFRA) | 7.8% | 1.6% | 25.0% | 18.6% | 4.5% |
| |
|---|
| Median (24 companies) | 7.7% | 6.6% | 5.4% | 3.1% | 3.5% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Skipper ($SKIPPER) | 10.4% | 13.5% | 14.7% | 27.4% | 24.4% |
| Voltas ($VOLTAS) | 19.6% | 11.7% | 11.8% | 19.3% | 18.2% |
| Coromandel Engineering Company ($COROENGG) | -21.9% | 3.4% | -0.3% | 15.0% | 7.9% |
| Mbl Infrastructures ($MBLINFRA) | 21.3% | 13.4% | 14.0% | 13.6% | - |
| Itd Cementation India ($ITDCEM) | 13.1% | 11.3% | 3.8% | 12.6% | - |
| |
|---|
| Median (42 companies) | 8.6% | 7.5% | 5.9% | 6.7% | 6.8% |
|---|
| Arss Infrastructure Projects ($ARSSINFRA) | 8.9% | 4.5% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Mcnally Bharat Engineering Company ($MBECL) | 4.3x | 7.0x | 7.6x | 28.3x | - |
| Jaiprakash Associates ($JPASSOCIAT) | 9.2x | 8.9x | 11.0x | 11.9x | - |
| Supreme Infrastructure India ($SUPREMEINF) | 6.0x | 6.1x | 6.8x | 11.3x | - |
| Madhucon Projects ($MADHUCON) | 96.8x | 19.0x | 16.4x | 9.8x | - |
| Shristi Infrastructure Development Corporation ($SHRISTI) | 11.8x | 8.6x | 7.9x | 9.4x | 8.8x |
| |
|---|
| Median (30 companies) | 4.5x | 5.3x | 6.6x | 3.1x | 3.7x |
|---|
| Arss Infrastructure Projects ($ARSSINFRA) | 6.1x | 11.7x | 0.0x | 0.0x | - |
