Jagran Production reports 32.9% revenue decline in FY2016
27-05-2016 • About Jagran Production (
$JAGPRO) • By InTwits
Jagran Production reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: It operates with high leverage: Net Debt/EBITDA is 2.6x while industry average is 2.0x.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 32.9%.
Net Income margin increased slightly on 2.0 pp from 1.1% to 3.1% in FY2016. During the last 5 years Net Income margin bottomed in FY2014 at 0.55% and was growing since that time.
Financial and operational results
Jagran Production ($JAGPRO) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
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P&L
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| Revenue | 17.7 | 18.5 | 113.6 | 332.0 | 222.8 | -32.9% |
| EBITDA | 0.7 | | | | | |
| Net Income | 0.4 | 0.3 | 0.6 | 3.7 | 6.9 | 85.2% |
Balance Sheet
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Cash flow
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Ratios
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| Revenue growth | 589.4% | 4.4% | 514.9% | 192.3% | -32.9% | |
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| EBITDA Margin | 3.9% | | | | |
| Net Income Margin | 2.0% | 1.9% | 0.6% | 1.1% | 3.1% | 2.0% |
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Peers in Commodity Chemicals
Below we provide Jagran Production benchmarking against other companies in Commodity Chemicals 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 |
|---|
| Tuticorin Alkali Chemicals & Fertilisers ($TUTIALKA) | - | -27.9% | -83.3% | 408.0% | 18.3% |
| Jayshree Chemicals ($JAYCH) | 288.9% | 17.5% | -75.2% | 262.3% | - |
| Shree Hari Chemicals Export ($SHHARICH) | -2.5% | -78.0% | 299.5% | 111.6% | - |
| Jindal Poly Films ($JINDPOLBBPH) | -17.2% | -6.3% | 131.7% | 46.9% | - |
| Southern Online Bio Technologies ($SBTL) | 50.0% | 56.8% | 40.8% | 22.6% | - |
| |
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| Median (37 companies) | 33.8% | 11.2% | 10.6% | 5.6% | 0.0% |
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| Jagran Production ($JAGPRO) | - | 4.4% | 514.9% | 192.3% | -32.9% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Riddhi Siddhi Gluco Biols ($RIDDHI) | - | - | - | 104.7% | - |
| Mysore Petro Chemicals ($MYSORPETRO) | - | - | - | 47.1% | - |
| Aditya Birla Chemicals (India) ($ABCIL) | 26.8% | 27.1% | 23.6% | 21.9% | - |
| Indo Borax & Chemicals ($INDOBORAX) | - | - | - | 21.3% | - |
| Chemfab Alkalis ($CHEMFALKAL) | 22.3% | 32.9% | 24.2% | 19.8% | 23.2% |
| |
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| Median (51 companies) | 11.3% | 8.3% | 8.5% | 6.6% | 10.2% |
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Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kanoria Chemicals & Industries ($KANORICHEM) | 25.1% | 6.0% | 13.4% | 40.3% | 28.7% |
| Aditya Birla Chemicals (India) ($ABCIL) | 136.9% | 24.2% | 30.8% | 15.0% | - |
| Aarti Industries ($AARTIIND) | 8.0% | 11.2% | 11.0% | 10.4% | 16.8% |
| Alkyl Amines Chemicals ($ALKYLAMINE) | 5.1% | 6.6% | 5.9% | 8.6% | 7.3% |
| Sukhjit Starch & Chemicals ($SUKHJITS) | 15.7% | 9.4% | 5.4% | 5.4% | 3.6% |
| |
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| Median (22 companies) | 5.3% | 6.6% | 5.7% | 3.2% | 4.7% |
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Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Bodal Chemicals ($BODALCHEM) | -1.3% | 3.3% | 39.0% | 38.3% | 33.1% |
| Elantas Beck India ($ELANTAS) | 20.4% | 33.9% | 31.0% | 36.6% | - |
| Alkyl Amines Chemicals ($ALKYLAMINE) | 16.0% | 18.7% | 25.0% | 23.7% | 24.7% |
| Aarti Industries ($AARTIIND) | 15.9% | 19.1% | 17.2% | 17.9% | 19.3% |
| Transpek Industry ($TRANSPEK) | -1.7% | 14.2% | 11.0% | 17.8% | 26.9% |
| |
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| Median (60 companies) | 9.1% | 9.8% | 9.3% | 8.8% | 14.7% |
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| Jagran Production ($JAGPRO) | - | - | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Iol Chemicals & Pharmaceuticals ($IOLCP) | 5.8x | 4.5x | 3.7x | 35.4x | 8.8x |
| India Glycols ($INDIAGLYCO) | 4.8x | 3.7x | 8.5x | 14.2x | 6.7x |
| Godrej Industries ($GODREJIND) | 9.9x | 5.7x | 7.9x | 10.7x | 10.0x |
| Kanoria Chemicals & Industries ($KANORICHEM) | 5.2x | 9.6x | 3.5x | 9.4x | 10.1x |
| Garware Polyester ($GARWARPOLY) | 2.2x | 3.8x | 4.0x | 5.2x | 3.1x |
| |
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| Median (38 companies) | 2.6x | 3.2x | 1.1x | 1.0x | 1.1x |
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