Sir Shadi Lal Enterprises revenue decline accelerated from 14.8% in FY2015 to 31.2% in FY2016
28-05-2016 • About Sir Shadi Lal Enterprises (
$SSLEL) • By InTwits
Sir Shadi Lal Enterprises reported FY2016 financial results today. Here are the key drivers of the company's long term financial model:
- Sir Shadi Lal Enterprises is a company in decline: FY2016 revenue growth was -31.2%, 5 years revenue CAGR was -4.5%
- Sir Shadi Lal Enterprises spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -3.0%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 31.2%. Revenue decline was accelerating on average at -10.8 pp per annum in the last 5 years. Despite revenue decline the EBITDA margin expanded. EBITDA Margin surged on 16.1 pp from -10.4% to 5.7% in FY2016.
Net Income margin increased on 8.5 pp from -7.7% to 0.73% in FY2016.
Financial and operational results
Sir Shadi Lal Enterprises ($SSLEL) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 3,748 | 4,266 | 4,689 | 3,993 | 2,749 | -31.2% |
| EBITDA | -173 | 181 | -344 | -415 | 158 | |
| Net Income | -394 | -96 | -426 | -309 | 20 | |
Balance Sheet
|
|---|
| Cash | 49 | 169 | | 257 | | |
| Short Term Debt | 2,067 | 1,875 | | 1,172 | | |
| Long Term Debt | 198 | 208 | | 186 | | |
Cash flow
|
|---|
| Capex | 13 | | | | | |
Ratios
|
|---|
| Revenue growth | 8.3% | 13.8% | 9.9% | -14.8% | -31.2% | |
| EBITDA growth | 1.1% | -204.8% | -290.0% | 20.6% | -138.0% | |
|
|---|
| EBITDA Margin | -4.6% | 4.2% | -7.3% | -10.4% | 5.7% | 16.1% |
| Net Income Margin | -10.5% | -2.2% | -9.1% | -7.7% | 0.7% | 8.5% |
| CAPEX, % of revenue | 0.3% | | | | | |
|
|---|
| ROIC | -11.2% | 4.3% | | | | |
| ROE | -79.6% | -38.4% | | | | |
| Net Debt/EBITDA | | 10.6x | | | 0.0x |
Peers in Sugar
Below you can find Sir Shadi Lal Enterprises benchmarking vs. other companies in Sugar 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 |
|---|
| K.M.Sugar Mills ($KMSUGAR) | -11.3% | 7.0% | 48.3% | 36.1% | - |
| Sbec Sugar ($SBECSUG) | -8.7% | 8.0% | 24.4% | 11.0% | - |
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | - | 25.4% | -14.5% | 10.6% | -5.8% |
| Dhampur Sugar Mills ($DHAMPURSUG) | - | -3.7% | 23.1% | -2.5% | 25.6% |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | - | 35.8% | 19.4% | -3.5% | 1.4% |
| |
|---|
| Median (9 companies) | -8.7% | 13.7% | 20.0% | -3.5% | 0.9% |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | - | 13.8% | 9.9% | -14.8% | -31.2% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 11.6% | 15.0% | 9.1% | 9.9% | 19.4% |
| Dhampur Sugar Mills ($DHAMPURSUG) | 13.3% | 15.0% | 7.1% | 8.4% | 10.3% |
| Shree Renuka Sugars ($RENUKA) | - | 15.1% | 8.5% | 4.7% | - |
| Rajshree Sugars & Chemicals ($RAJSREESUG) | 12.2% | 13.3% | 6.9% | 0.9% | 6.0% |
| Uttam Sugar Mills ($UTTAMSUGAR) | 3.6% | 17.2% | - | -2.0% | - |
| |
|---|
| Median (7 companies) | 11.6% | 15.0% | 8.5% | 0.9% | 8.1% |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | -4.6% | 4.2% | -7.3% | -10.4% | 5.7% |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 2.1% | 14.6% | 15.1% | 4.4% | 7.4% |
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | 1.3% | 1.6% | 0.4% | 3.5% | 2.0% |
| Dhampur Sugar Mills ($DHAMPURSUG) | 3.9% | 6.0% | 13.7% | 2.8% | 2.2% |
| Shree Renuka Sugars ($RENUKA) | - | 3.5% | 2.6% | 1.9% | - |
| |
|---|
| Median (4 companies) | 2.1% | 4.5% | 2.6% | 3.1% | 2.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Dhampur Sugar Mills ($DHAMPURSUG) | - | 8.4% | 2.9% | 5.2% | 8.7% |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 3.6% | 6.0% | 4.4% | 4.7% | 7.9% |
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | 10.1% | 21.0% | 14.5% | -8.8% | 2.1% |
| Shree Renuka Sugars ($RENUKA) | 0.0% | 6.6% | -1.2% | -9.3% | - |
| Piccadily Sugar & Allied Industries ($PICCASUG) | 6.9% | -12.7% | - | - | - |
| |
|---|
| Median (12 companies) | 5.4% | 7.3% | 3.4% | -2.1% | 7.9% |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | -11.2% | 4.3% | - | - | - |
Top companies by Net Debt / EBITDA
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Rajshree Sugars & Chemicals ($RAJSREESUG) | 5.3x | 4.2x | 9.4x | 0.0x | 15.3x |
| Dhampur Sugar Mills ($DHAMPURSUG) | 4.8x | 6.4x | 10.2x | 9.8x | 6.3x |
| Kcp Sugar & Industries Corporation ($KCPSUGIND) | 2.4x | 0.6x | 1.3x | - | 5.1x |
| Dalmia Bharat Sugar And Industries ($DALMIASUG) | 7.5x | 5.1x | 7.1x | 6.9x | 4.0x |
| |
|---|
| Median (4 companies) | 5.1x | 4.6x | 5.1x | 8.3x | 5.7x |
|---|
| Sir Shadi Lal Enterprises ($SSLEL) | - | 10.6x | - | - | 0.0x |
