Gtn Textiles EBITDA dropped on 68.7% and Revenue dropped on 17.4%
30-05-2016 • About Gtn Textiles (
$GTNTEX) • By InTwits
Gtn Textiles reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is quite volatile: 2.1% in FY2016, 5.6% in FY2015, 7.8% in FY2014, 5.7% in FY2013, 6.6% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Gtn Textiles's Revenue dropped on 17.4%. Revenue decline was worsened by EBITDA margin decline. EBITDA Margin decreased on 3.5 pp from 5.6% to 2.1% in FY2016.
Net Income margin decreased on 3.2 pp from -1.7% to -4.9% in FY2016. During FY2012-FY2016 Net Income margin topped in FY2014 at 0.68% and was declining since that time.
Financial and operational results
Gtn Textiles ($GTNTEX) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,358 | 2,053 | 2,861 | 1,822 | 1,504 | -17.4% |
| EBITDA | 90 | 117 | 223 | 103 | 32 | -68.7% |
| Net Income | -44 | -36 | 20 | -31 | -73 | |
Balance Sheet
|
|---|
| Cash | 50 | 55 | | | | |
| Short Term Debt | 255 | 302 | | | | |
| Long Term Debt | 368 | 320 | | | | |
Cash flow
|
|---|
Ratios
|
|---|
| Revenue growth | -8.8% | 51.2% | 39.4% | -36.3% | -17.4% | |
| EBITDA growth | -53.9% | 30.4% | 91.2% | -54.0% | -68.7% | |
|
|---|
| EBITDA Margin | 6.6% | 5.7% | 7.8% | 5.6% | 2.1% | -3.5% |
| Net Income Margin | -3.3% | -1.7% | 0.7% | -1.7% | -4.9% | -3.2% |
|
|---|
| ROIC | 2.2% | 5.6% | | | | |
| ROE | -12.9% | -11.7% | | | | |
| Net Debt/EBITDA | 6.4x | 4.9x | 0.0x | 0.0x | 0.0x |
Peers in Textiles
Below you can find Gtn Textiles benchmarking vs. other companies in Textiles 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 |
|---|
| Raj Rayon Industries ($RAJRAYON) | - | 3.8% | -33.7% | -61.0% | 146.1% |
| Olympia Industries ($OLYMPTX) | - | -96.6% | 74,809.1% | 1,749.9% | 50.5% |
| Prag Bosimi Synthetics ($PRAGBOS) | - | - | - | - | 34.5% |
| Nitin Spinners ($NITINSPIN) | - | 4.1% | 9.5% | 26.2% | 24.4% |
| Blue Chip Tex Industries ($BLUECHIPT) | - | 12.9% | 29.9% | 56.1% | 23.7% |
| |
|---|
| Median (65 companies) | 3.0% | 9.3% | 14.4% | -0.1% | -4.3% |
|---|
| Gtn Textiles ($GTNTEX) | - | 51.2% | 39.4% | -36.3% | -17.4% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sil Investments ($SILINV) | - | - | - | 93.8% | - |
| Swadeshi Polytex ($SWADPOL) | - | - | - | 64.4% | - |
| Binny ($BINNY) | - | - | - | 60.9% | - |
| Ruby Mills ($RUBYMILLS) | 28.3% | 25.1% | 28.6% | 29.3% | - |
| Premier Synthetics ($PREMSYN) | - | - | - | 25.9% | - |
| |
|---|
| Median (86 companies) | 6.2% | 9.5% | 9.5% | 7.2% | 8.8% |
|---|
| Gtn Textiles ($GTNTEX) | 6.6% | 5.7% | 7.8% | 5.6% | 2.1% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Nitin Spinners ($NITINSPIN) | 1.9% | 2.6% | 8.0% | 42.3% | 4.7% |
| Maharaja Shree Umaid Mills ($MAHASHR) | 18.6% | 24.1% | 6.8% | 16.8% | - |
| Jindal Worldwide ($JINDWORLD) | 3.0% | 10.5% | 20.7% | 11.6% | 2.2% |
| SRF ($SRF) | 0.0% | 18.7% | 20.0% | 11.4% | 13.0% |
| Welspun India ($WELSPUNIND) | 5.6% | 7.8% | 16.4% | 10.9% | 17.7% |
| |
|---|
| Median (21 companies) | 3.4% | 5.6% | 6.8% | 6.7% | 4.7% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Welspun India ($WELSPUNIND) | 9.3% | 15.6% | 8.5% | 21.9% | 25.2% |
| Jindal Worldwide ($JINDWORLD) | 14.5% | 15.2% | 13.7% | 11.0% | 18.0% |
| Nitin Spinners ($NITINSPIN) | 6.0% | 19.5% | 21.5% | 17.5% | 17.8% |
| Sangam (India) ($SANGAMIND) | 9.8% | 14.7% | 12.2% | 12.8% | 15.0% |
| Sutlej Textiles & Industries ($SUTLEJTEX) | 9.5% | 13.6% | 19.8% | 14.6% | 14.4% |
| |
|---|
| Median (106 companies) | 3.6% | 9.2% | 8.9% | 9.5% | 11.5% |
|---|
| Gtn Textiles ($GTNTEX) | 2.2% | 5.6% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jaybharat Textiles & Real Estate ($JAYTEX) | 10.9x | 53.6x | 23.8x | - | 247.8x |
| Bombay Rayon Fashions ($BRFL) | 4.9x | 4.9x | 11.6x | 10.0x | 7.3x |
| Filatex India ($FILATEX) | 8.0x | 6.5x | 0.0x | 0.0x | 4.9x |
| Raymond ($RAYMOND) | 3.7x | 4.6x | 3.7x | 4.1x | 4.5x |
| Nahar Spinning Mills ($NAHARSPING) | 70.8x | 3.8x | 3.2x | 4.9x | 4.0x |
| |
|---|
| Median (59 companies) | 3.8x | 3.2x | 0.0x | 0.0x | 0.0x |
|---|
| Gtn Textiles ($GTNTEX) | 6.4x | 4.9x | 0.0x | 0.0x | 0.0x |
