Khaitan Electricals revenue dropped on 34.2%
28-05-2016 • About Khaitan Electricals (
$KHAITANELE) • By InTwits
Khaitan Electricals reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Khaitan Electricals is a company in decline: FY2016 revenue growth was -34.2%, 5 years revenue CAGR was -9.4%
- EBITDA Margin is declining: -21.1% in FY2016 vs. in FY2015 vs. 2.6% in FY2012
- Khaitan Electricals spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -0.1%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 34.2%. During FY2012-FY2016 Revenue growth topped in FY2013 at 16.9% and was decelerating since that time.
Net Income margin dropped on 22.3 pp from -11.5% to -33.7% in FY2016. During the last 5 years Net Income margin topped in FY2013 at 1.6% and was declining since that time.
Financial and operational results
Khaitan Electricals ($KHAITANELE) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 4,347 | 5,081 | 5,137 | 4,267 | 2,806 | -34.2% |
| EBITDA | 113 | 308 | 143 | | -593 | |
| Net Income | -162 | 81 | -166 | -489 | -946 | |
Balance Sheet
|
|---|
| Cash | 34 | 245 | | | | |
| Short Term Debt | 2,262 | 2,086 | | | | |
| Long Term Debt | 346 | 301 | | | | |
Cash flow
|
|---|
| Capex | 20 | | | | | |
Ratios
|
|---|
| Revenue growth | -5.5% | 16.9% | 1.1% | -16.9% | -34.2% | |
| EBITDA growth | -60.1% | 172.9% | -53.5% | | | |
|
|---|
| EBITDA Margin | 2.6% | 6.1% | 2.8% | | -21.1% |
| Net Income Margin | -3.7% | 1.6% | -3.2% | -11.5% | -33.7% | -22.3% |
| CAPEX, % of revenue | 0.5% | | | | | |
|
|---|
| ROIC | 2.6% | 8.1% | | | | |
| ROE | -14.7% | 7.7% | | | | |
| Net Debt/EBITDA | 22.8x | 6.9x | 0.0x | | |
Peers in Household Appliances
Below we provide Khaitan Electricals benchmarking against other companies in Household Appliances 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ifb Industries ($IFBIND) | - | 14.1% | 11.5% | 23.6% | 19.0% |
| Panasonic Appliances India Company ($PANASONIC) | -3.6% | -17.8% | 6.6% | 22.3% | - |
| Value Industries ($VALUEIND) | -11.7% | 20.3% | 6.1% | -74.1% | - |
| |
|---|
| Median (3 companies) | -7.7% | 14.1% | 6.6% | 22.3% | 19.0% |
|---|
| Khaitan Electricals ($KHAITANELE) | - | 16.9% | 1.1% | -16.9% | -34.2% |
Top companies by EBITDA margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ifb Industries ($IFBIND) | 6.2% | 5.6% | 5.9% | 7.1% | 4.6% |
| |
|---|
| Median (1 company) | 6.2% | 5.6% | 5.9% | 5.3% | 4.6% |
|---|
| Khaitan Electricals ($KHAITANELE) | 2.6% | 6.1% | 2.8% | - | -21.1% |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ifb Industries ($IFBIND) | 7.3% | 5.7% | 5.7% | 6.9% | 4.6% |
| Panasonic Appliances India Company ($PANASONIC) | 5.4% | 0.3% | 2.0% | 3.0% | - |
| |
|---|
| Median (2 companies) | 6.4% | 3.0% | 3.8% | 5.0% | 4.6% |
|---|
Top companies by ROIC, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Ifb Industries ($IFBIND) | 14.4% | 11.0% | 9.9% | 11.4% | 5.4% |
| Panasonic Appliances India Company ($PANASONIC) | -22.0% | -20.1% | -0.6% | 6.6% | - |
| Value Industries ($VALUEIND) | - | - | - | - | - |
| |
|---|
| Median (3 companies) | -3.8% | -4.5% | 4.7% | 9.0% | 5.4% |
|---|
| Khaitan Electricals ($KHAITANELE) | 2.6% | 8.1% | - | - | - |
Top companies by Net Debt / EBITDA
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Panasonic Appliances India Company ($PANASONIC) | - | - | 11.3x | 5.8x | - |
| Ifb Industries ($IFBIND) | -1.1x | -0.7x | -0.3x | -0.1x | -0.5x |
| |
|---|
| Median (2 companies) | -0.5x | -0.3x | 0.0x | 2.9x | -0.5x |
|---|
