Simplex Castings revenue surged on 20.3%

29-05-2016 • About Simplex Castings ($SIMPLEXCAS) • By InTwits

Simplex Castings 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

Simplex Castings's Revenue surged on 20.3%. During the last 5 years Revenue growth bottomed in FY2014 at -21.9% and was accelerating since that time.

Net Income margin increased slightly on 1.0 pp from 0.70% to 1.7% in FY2016. During FY2012-FY2016 Net Income margin bottomed in FY2015 at 0.70%.

Management team

Simplex Castings's CFO is Avinash Hariharno. Avinash Hariharno has 5 years tenure at the company.

Financial and operational results

Simplex Castings ($SIMPLEXCAS) key annual financial indicators

mln. INR	2012	2013	2014	2015	2016	2016/2015
P&L
Revenue	2,175	2,031	1,588	1,699	2,043	20.3%
EBITDA	357	274	215		165
Net Income	106	50	15	12	36	198.1%
Balance Sheet
Cash	4
Short Term Debt	519
Long Term Debt	236
Cash flow
Capex	232
Ratios
Revenue growth	6.9%	-6.6%	-21.9%	7.0%	20.3%
EBITDA growth	2.9%	-23.3%	-21.5%

EBITDA Margin	16.4%	13.5%	13.6%		8.1%
Net Income Margin	4.9%	2.4%	1.0%	0.7%	1.7%	1.0%
CAPEX, % of revenue	10.7%

ROIC	20.9%
ROE	15.3%
Net Debt/EBITDA	2.1x	0.0x	0.0x		0.0x

Peers in Other Industrial Products

Below you can find Simplex Castings benchmarking vs. other companies in Other Industrial Products 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	FY2012	FY2013	FY2014	FY2015	FY2016
Carborundum Universal ($CARBORUNIV)	-	-1.2%	7.8%	-3.5%	1.7%
Bharat Forge ($BHARATFORG)	-	-18.8%	31.7%	13.5%	0.3%
Welcast Steels ($ZWELCAST)	-	11.1%	-1.5%	0.0%	-49.8%
Median (3 companies)	-13.1%	-10.0%	3.2%	-1.8%	0.3%
Simplex Castings ($SIMPLEXCAS)	-	-6.6%	-21.9%	7.0%	20.3%

Top companies by EBITDA margin, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Hindustan Wires ($HINDWRS)	-	-	-	27.3%	-
Bharat Forge ($BHARATFORG)	16.0%	15.8%	15.5%	18.9%	18.7%
Carborundum Universal ($CARBORUNIV)	19.7%	12.3%	12.2%	13.2%	16.0%
Hilton Metal Forging ($HILTON)	-	-	-	7.1%	-
Lgb Forge ($LGBFORGE)	-	-	-	4.6%	-
Median (9 companies)	15.2%	7.5%	12.2%	4.6%	17.3%

Top companies by CAPEX/Revenue, %


Top	FY2012	FY2013	FY2014	FY2015	FY2016
Bharat Forge ($BHARATFORG)	15.6%	11.0%	10.1%	9.4%	13.4%
Carborundum Universal ($CARBORUNIV)	8.5%	10.9%	3.6%	3.8%	8.1%
Median (2 companies)	7.1%	10.9%	4.0%	6.6%	10.7%

Top companies by ROIC, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Bharat Forge ($BHARATFORG)	14.6%	9.1%	12.6%	18.5%	15.6%
Carborundum Universal ($CARBORUNIV)	25.3%	11.8%	10.6%	11.0%	15.5%
Lgb Forge ($LGBFORGE)	8.6%	2.5%	-3.6%	-0.6%	-
Expo Gas Containers ($EXPOGAS)	15.4%	12.0%	-	-	-
Gujarat Intrux ($GUJINTRX)	26.0%	23.7%	19.7%	-	-
Median (12 companies)	13.5%	10.8%	10.6%	11.0%	15.5%
Simplex Castings ($SIMPLEXCAS)	20.9%	-	-	-	-

Top companies by Net Debt / EBITDA


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Bharat Forge ($BHARATFORG)	2.6x	3.0x	2.2x	1.3x	1.7x
Carborundum Universal ($CARBORUNIV)	0.8x	1.5x	1.2x	0.7x	0.6x
Gujarat Intrux ($GUJINTRX)	0.2x	-0.6x	-1.1x	-	0.0x
Hindustan Wires ($HINDWRS)	-	-	-	0.0x	0.0x
Lgb Forge ($LGBFORGE)	4.4x	3.7x	4.0x	5.9x	0.0x
Median (6 companies)	2.6x	1.8x	0.6x	0.0x	0.0x
Simplex Castings ($SIMPLEXCAS)	2.1x	0.0x	0.0x	-	0.0x

Simplex Castings stock price chart

Simplex Castings financials

mln.	FY2010	FY2011	FY2012

Revenue	1,957	2,035	2,175
EBITDA	270.3	347.2	357.2
Net income	104.9	128.9	105.8
CAPEX	113.4	168.4	231.7
Debt	528.0	602.3	755.1
Cash	15.125	1.898	4.380

About Simplex Castings

Simplex Castings Limited manufactures and sells heavy engineering castings for various industrial sectors worldwide. Its casting products include carbon and alloy steel castings, grey iron castings, and ductile/SG and C.G. iron castings. The company also provides fabricated items and equipment, such as torpedo ladle cars, ingot mould cars, continuous caster machines, drum sections for sinter plants, tilting ladle stands, furnace charging conveyors, bogies, slag ladle cars, ingot casting cars, billet transfer cars, crane girders/columns, stator rails for wind mills, and hammer crushers. In addition, it manufactures equipment for oil and gas sector, including surface pumping units/pump jacks; mast/derrick/sub-structure/crown blocks; onshore drilling and work over rigs; cementing and WSS units; mud logging units for onshore and offshore; automatic batch mixers; and pressure vessels/heat exchangers/separators. Further, the company is involved in the refurbishment and up-gradation of drilling/work over rigs; and installation of oil and gas collection centers/group gathering stations and revamping, as well as the fabrication of mud tankage/oil and crude tankage/bunk houses. It serves customers in various industries, such as steel plants, power plants, railways, mining, cement, chemical, oil and gas, sugar, earth moving, machine tools, heavy valves and pumps, ship building, etc. The company was founded in 1970 and is based in Bhilai, India.