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Ip Rings reports 17.5% EBITDA growth in 2016 and almost no change in EBITDA Margin of 12.7%

27-05-2016 • About Ip Rings ($IPRINGLTD) • By InTwits

Ip Rings reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.

Revenue and profitability


Ip Rings's Revenue surged on 16.7%. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased on 5.6 pp from 8.6% to 14.1% in FY2016. During FY2012-FY2016 EBITDA Margin bottomed in FY2013 at 6.3% and was growing since that time.

Net Income margin increased slightly on 0.56 pp from -0.48% to 0.080% in FY2016. During the last 5 years Net Income margin bottomed in FY2013 at -4.9% and was growing since that time.

Financial and operational results


Ip Rings ($IPRINGLTD) key annual financial indicators

mln. INR201220132014201520162016/2015
P&L
Revenue8288488471,0131,18216.7%
EBITDA98539712815117.5%
Net Income6-42-28-51
Balance Sheet
Cash154
Short Term Debt228236
Long Term Debt183124
Cash flow
Capex117
Ratios
Revenue growth4.0%2.4%-0.1%19.5%16.7%
EBITDA growth-21.8%-45.2%81.5%32.0%17.5%
EBITDA Margin11.8%6.3%11.5%12.7%12.7%0.1%
Net Income Margin0.7%-4.9%-3.3%-0.5%0.1%0.6%
CAPEX, % of revenue14.1%
ROIC4.8%-1.3%
ROE1.2%-9.0%
Net Debt/EBITDA4.1x6.7x0.0x0.0x0.0x

Peers in Auto Parts & Equipment


Below you can find Ip Rings benchmarking vs. other companies in Auto Parts & Equipment 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
Spectra Industries ($SPECTRA)16.4%40.2%-10.1%57.1%-
Simmonds Marshall ($SIMMOND)-4.6%13.4%28.5%0.1%
India Nippon Electricals ($INDNIPPON)13.6%3.2%-2.4%24.8%-
Amara Raja Batteries ($AMARAJABAT)-25.1%16.1%22.6%11.4%
Enkei Wheels (India) ($ENKEIWHEL)-1.3%11.7%21.6%0.4%
 
Median (38 companies)17.9%2.7%5.0%8.7%0.8%
Ip Rings ($IPRINGLTD)-2.4%-0.1%19.5%16.7%


Top companies by EBITDA margin, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Ist ($ISTLTD)---71.6%-
Tube Investments Of India ($TUBEINVEST)18.4%24.4%28.3%30.0%21.4%
Shivam Autotech ($SHIVAMAUTO)24.1%24.1%20.6%18.7%-
Amara Raja Batteries ($AMARAJABAT)14.9%15.7%14.2%17.0%17.6%
Suprajit Engineering ($SUPRAJIT)16.2%17.0%17.2%16.2%-
 
Median (45 companies)10.8%9.9%10.1%9.9%10.9%
Ip Rings ($IPRINGLTD)11.8%6.3%11.5%12.7%12.7%


Top companies by CAPEX/Revenue, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Amtek Auto ($AMTEKAUTO)18.9%-27.1%30.3%-
Jbm Auto ($JBMA)9.8%8.4%-14.4%-
Rico Auto Industries ($RICOAUTO)5.8%10.9%5.7%14.2%7.4%
Shivam Autotech ($SHIVAMAUTO)11.6%4.1%4.9%12.5%-
Amara Raja Batteries ($AMARAJABAT)3.7%2.5%10.9%9.6%11.0%
 
Median (26 companies)5.7%4.5%4.8%4.6%4.5%


Top companies by ROIC, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Amara Raja Batteries ($AMARAJABAT)32.1%34.5%30.3%35.4%33.7%
Exide Industries ($EXIDEIND)24.2%24.3%29.5%26.9%20.5%
Munjal Showa ($MUNJALSHOW)29.9%23.8%22.5%24.9%19.8%
Motherson Sumi Systems ($MOTHERSUMI)13.5%16.5%25.0%24.9%25.1%
Gabriel India ($GABRIEL)19.9%15.5%18.0%24.0%25.0%
 
Median (51 companies)16.4%12.7%15.1%14.6%15.4%
Ip Rings ($IPRINGLTD)4.8%-1.3%---


Top companies by Net Debt / EBITDA

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Tube Investments Of India ($TUBEINVEST)17.6x17.8x17.3x16.4x0.1x
Amtek Auto ($AMTEKAUTO)4.8x-5.3x5.8x-
Remsons Industries ($REMSONSIND)2.8x4.3x3.6x5.7x-
Steel Strips Wheels ($SSWL)5.4x6.3x6.5x5.6x4.2x
Autopal Industries ($AUTOPAL)-3.4x3.8x4.4x0.0x
 
Median (43 companies)1.2x2.0x0.9x0.1x0.0x
Ip Rings ($IPRINGLTD)4.1x6.7x0.0x0.0x0.0x


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