Cantabil Retail India reports 13.2% EBITDA growth in 2016 and almost no change in EBITDA Margin of 10.5%
27-05-2016 • About Cantabil Retail India (
$CANTABIL) • By InTwits
Cantabil Retail India reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: Cantabil Retail India spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -1.8%.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue surged on 12.0%. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin jumped on 37.0 pp from 19.5% to 56.5% in FY2016.
Net Income margin increased slightly on 1.2 pp from 2.1% to 3.3% in FY2016. During FY2012-FY2016 Net Income margin bottomed in FY2013 at -28.7% and was growing since that time.
Financial and operational results
Cantabil Retail India ($CANTABIL) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,644 | 1,144 | 1,107 | 1,383 | 1,549 | 12.0% |
| EBITDA | -171 | -255 | | 143 | 162 | 13.2% |
| Net Income | -255 | -329 | -91 | 29 | 51 | 75.4% |
Balance Sheet
|
|---|
| Cash | 27 | 37 | | | | |
| Short Term Debt | 346 | 309 | | | | |
| Long Term Debt | 8 | 0 | | | | |
Cash flow
|
|---|
| Capex | | 132 | | | | |
Ratios
|
|---|
| Revenue growth | -11.6% | -30.4% | -3.3% | 25.0% | 12.0% | |
| EBITDA growth | -166.5% | 49.1% | | | 13.2% | |
|
|---|
| EBITDA Margin | -10.4% | -22.3% | | 10.4% | 10.5% | 0.1% |
| Net Income Margin | -15.5% | -28.7% | -8.2% | 2.1% | 3.3% | 1.2% |
| CAPEX, % of revenue | | 11.5% | | | | |
|
|---|
| ROIC | -11.9% | -21.5% | | | | |
| ROE | -20.5% | -34.5% | | | | |
Peers in Other Apparels & Accessories
Below we provide Cantabil Retail India benchmarking against other companies in Other Apparels & Accessories 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 |
|---|
| Bhartiya International ($BIL) | - | 20.9% | 36.7% | 34.7% | 12.1% |
| Page Industries ($PAGEIND) | - | 26.3% | 37.5% | 30.0% | 15.5% |
| Mini Diamonds (India) ($MINID) | - | 59.6% | 117.1% | 26.9% | 3.1% |
| Thangamayil Jewellery ($THANGAMAYL) | - | 34.6% | -21.8% | 19.3% | -10.5% |
| Shrenuj & Co ($SHRENUJ) | 28.3% | 22.6% | 20.2% | 18.1% | - |
| |
|---|
| Median (23 companies) | 4.3% | 19.5% | 15.3% | -0.9% | 3.5% |
|---|
| Cantabil Retail India ($CANTABIL) | - | -30.4% | -3.3% | 25.0% | 12.0% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ceenik Exports (India) ($CEENIK) | - | - | - | 27.2% | - |
| Arrow Textiles ($ARROWTEX) | - | - | - | 25.2% | - |
| Page Industries ($PAGEIND) | 21.1% | 20.5% | 21.5% | 20.7% | 21.2% |
| Banaras Beads ($BANARBEADS) | - | - | - | 17.9% | - |
| Rupa & Company ($RUPA) | 12.7% | 15.0% | 15.3% | 14.5% | - |
| |
|---|
| Median (31 companies) | 7.6% | 6.1% | 5.5% | 4.8% | 3.6% |
|---|
| Cantabil Retail India ($CANTABIL) | -10.4% | -22.3% | - | 10.4% | 10.5% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Zodiac Clothing Co ($ZODIACLOTH) | 5.7% | 3.9% | 4.0% | 5.0% | 7.0% |
| Page Industries ($PAGEIND) | 4.0% | 5.2% | 4.4% | 3.6% | 1.5% |
| Pearl Global Industries ($PGIL) | 0.9% | 0.7% | 1.3% | 3.1% | 1.7% |
| Rupa & Company ($RUPA) | 1.9% | 3.9% | 1.7% | 2.2% | - |
| Bhartiya International ($BIL) | 4.5% | 3.9% | 1.8% | 2.1% | 0.5% |
| |
|---|
| Median (11 companies) | 1.6% | 1.3% | 1.1% | 0.7% | 0.9% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Page Industries ($PAGEIND) | 54.9% | 58.5% | 61.6% | 59.2% | 60.1% |
| Ashapura Intimates Fashion ($AIFL) | 24.1% | 19.1% | 23.4% | 39.9% | - |
| Rupa & Company ($RUPA) | 22.4% | 27.1% | 25.8% | 23.8% | - |
| Tara Jewels ($TARAJEWELS) | 17.5% | 18.6% | 15.1% | 13.5% | 9.9% |
| Bhartiya International ($BIL) | 13.0% | 10.6% | 11.2% | 12.8% | 11.4% |
| |
|---|
| Median (40 companies) | 10.1% | 7.2% | 10.9% | 7.7% | 9.2% |
|---|
| Cantabil Retail India ($CANTABIL) | -11.9% | -21.5% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Thangamayil Jewellery ($THANGAMAYL) | 2.2x | 2.6x | 11.9x | 61.2x | 2.9x |
| Shrenuj & Co ($SHRENUJ) | 9.3x | 11.2x | 11.7x | 13.5x | - |
| Gokaldas Exports ($GOKEX) | - | - | 3.6x | 10.4x | - |
| Tribhovandas Bhimji Zaveri ($TBZ) | 1.6x | 2.7x | 4.1x | 6.6x | 16.2x |
| Asian Star Co ($ASTAR) | 7.1x | 7.1x | 5.9x | 4.8x | 5.2x |
| |
|---|
| Median (24 companies) | 2.3x | 2.7x | 0.0x | 0.4x | 1.2x |
|---|
| Cantabil Retail India ($CANTABIL) | - | - | - | 0.0x | 0.0x |
