Cravatex reports 51.0% EBITDA decline in 2016 while 9.5% Revenue growth
27-05-2016 • About Cravatex (
$CRAVATEX) • By InTwits
Cravatex reported FY2016 financial results today. Here are the key drivers of the company's long term financial model: Cravatex is a fast growth stock: FY2016 revenue growth was 9.5%, 5 year revenue CAGR was 22.4% at FY2016 ROIC .
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Cravatex's Revenue increased on 9.5%. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased on 2.8 pp from 4.4% to 7.1% in FY2016.
Net Income margin decreased on 4.1 pp from 1.0% to -3.1% in FY2016. Net Income margin followed a declining trend at -1.6 pp per annum in the last 5 years.
Financial and operational results
Cravatex ($CRAVATEX) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 2,405 | 2,196 | 2,480 | 2,326 | 2,547 | 9.5% |
| EBITDA | 140 | 161 | 175 | 170 | 83 | -51.0% |
| Net Income | 92 | 75 | 49 | 24 | -79 | -432.1% |
Balance Sheet
|
|---|
| Cash | 27 | 51 | | | | |
| Short Term Debt | 256 | 324 | | | | |
| Long Term Debt | 25 | 137 | | | | |
Cash flow
|
|---|
Ratios
|
|---|
| Revenue growth | 159.8% | -8.7% | 12.9% | -6.2% | 9.5% | |
| EBITDA growth | 19.2% | 15.2% | 8.1% | -2.8% | -51.0% | |
|
|---|
| EBITDA Margin | 5.8% | 7.4% | 7.0% | 7.3% | 3.3% | -4.0% |
| Net Income Margin | 3.8% | 3.4% | 2.0% | 1.0% | -3.1% | -4.1% |
|
|---|
| ROIC | 23.8% | 19.2% | | | | |
| ROE | 32.7% | 21.1% | | | | |
| Net Debt/EBITDA | 1.8x | 2.5x | 0.0x | 0.0x | 0.0x |
Peers in Comm.Trading & Distribution
Below you can find Cravatex benchmarking vs. other companies in Comm.Trading & Distribution 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 |
|---|
| Shri Krishna Prasadam ($SKP) | - | 57.3% | 1,074.7% | 148.2% | -54.1% |
| Sunil Industries ($SUNILTX) | - | 57.2% | 12.1% | 59.6% | 19.3% |
| Gagan Polycot India ($GAGANPO) | -59.4% | 76.3% | 18.2% | 43.2% | - |
| Ptl Enterprises ($PTL) | - | 12.6% | 17.7% | 35.1% | -2.4% |
| Parker Agrochem Exports ($PARKERAC) | - | 1,542.3% | 39.1% | 33.1% | -63.4% |
| |
|---|
| Median (19 companies) | -1.7% | 13.6% | 14.0% | 12.6% | -10.4% |
|---|
| Cravatex ($CRAVATEX) | - | -8.7% | 12.9% | -6.2% | 9.5% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Hexa Tradex ($HEXATRADEX) | - | - | - | 48.1% | - |
| Indiabulls Wholesale Services ($IBWSL) | 30.8% | 25.9% | 19.4% | 21.4% | 27.6% |
| Bombay Cycle & Motor Agency ($BOMBCYC) | - | - | - | 19.5% | - |
| Ptl Enterprises ($PTL) | 26.6% | 22.7% | 21.6% | 18.5% | 20.9% |
| Remi Elektrotechnik ($REMIELEK) | - | - | - | 15.1% | - |
| |
|---|
| Median (37 companies) | 2.8% | 2.7% | 2.0% | 2.4% | 2.0% |
|---|
| Cravatex ($CRAVATEX) | 5.8% | 7.4% | 7.0% | 7.3% | 3.3% |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ptl Enterprises ($PTL) | 5.0% | 4.5% | 2.4% | 4.2% | 5.8% |
| Mmtc ($MMTC) | 0.0% | 0.1% | 0.1% | 0.1% | 0.2% |
| Redington (India) ($REDINGTON) | 0.2% | 0.7% | 0.2% | 0.2% | 0.2% |
| Kothari Products ($KOTHARIPRO) | 2.5% | 0.1% | 0.2% | 0.0% | 0.1% |
| |
|---|
| Median (4 companies) | 0.4% | 0.1% | 0.2% | 0.2% | 0.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ptl Enterprises ($PTL) | 18.5% | 19.5% | 21.1% | 22.1% | 12.8% |
| Redington (India) ($REDINGTON) | 17.2% | 16.0% | 16.3% | 15.3% | 14.4% |
| Risa International ($RISAINTL) | - | -0.2% | 14.8% | 11.9% | - |
| Maxwell Industries ($MAXWELL) | 9.0% | 6.6% | 9.6% | 11.2% | - |
| Kothari Products ($KOTHARIPRO) | 23.4% | 20.0% | 28.3% | 10.6% | 11.7% |
| |
|---|
| Median (52 companies) | 4.5% | 4.7% | 9.6% | 11.2% | 12.2% |
|---|
| Cravatex ($CRAVATEX) | 23.8% | 19.2% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Maxwell Industries ($MAXWELL) | 3.7x | 5.8x | 3.5x | 3.3x | - |
| Redington (India) ($REDINGTON) | 2.6x | 2.6x | 1.7x | 1.9x | 2.3x |
| Kothari Products ($KOTHARIPRO) | 1.2x | 0.6x | 0.4x | 1.4x | 1.5x |
| Ptl Enterprises ($PTL) | 2.2x | 2.0x | 2.0x | 1.2x | 0.5x |
| Rama Vision ($RAMAVISION) | -1.8x | 0.3x | 0.0x | 0.0x | - |
| |
|---|
| Median (29 companies) | 1.6x | 1.7x | 0.0x | 0.0x | 0.0x |
|---|
| Cravatex ($CRAVATEX) | 1.8x | 2.5x | 0.0x | 0.0x | 0.0x |
