Jindal Photo revenue returned to growth in FY2016: increased 383% vs. 11.1% decline a year earliner
30-05-2016 • About Jindal Photo (
$JINDALPHOT) • By InTwits
Jindal Photo reported FY2016 financial results today. Here are the key drivers of the company's long term financial model:
- Jindal Photo is a fast growth stock: FY2016 revenue growth was 383%, 5 year revenue CAGR was 28.9% at FY2016 ROIC
- It operates with high leverage: Net Debt/EBITDA is 24.1x while industry average is 12.0x
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Jindal Photo's Revenue surged on 383%.
Net Income margin decreased on 4.5 pp from -10.4% to -14.9% in FY2016. Net Income margin declined at -4.5 pp per annum in FY2012-FY2016.
Leverage (Debt)
Company's Net Debt / EBITDA is 24.1x and Debt / EBITDA is 24.7x. Net Debt / EBITDA jumped24.1x from to 24.1x in FY2016. Debt jumped while cash surged.
Jindal Photo has short term refinancing risk: cash is only 69.1% of short term debt.
Financial and operational results
Jindal Photo ($JINDALPHOT) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 4,034 | 4,700 | 3,306 | 2,939 | 14,209 | 383.4% |
| EBITDA | 245 | 117 | -162 | | 2,233 | |
| Net Income | 152 | -106 | -408 | -306 | -2,112 | |
Balance Sheet
|
|---|
| Cash | 316 | 482 | 159 | | 1,288 | |
| Short Term Debt | 1,395 | 408 | 550 | | 1,864 | |
| Long Term Debt | 18,277 | 33,608 | 42,595 | | 53,241 | |
Cash flow
|
|---|
| Capex | 18,019 | 15,696 | 14,944 | | | |
Ratios
|
|---|
| Revenue growth | 0.9% | 16.5% | -29.7% | -11.1% | 383.4% | |
| EBITDA growth | 0.5% | -52.1% | -238.3% | | | |
|
|---|
| EBITDA Margin | 6.1% | 2.5% | -4.9% | | 15.7% |
| Net Income Margin | 3.8% | -2.3% | -12.3% | -10.4% | -14.9% | -4.5% |
| CAPEX, % of revenue | 446.7% | 334.0% | 452.0% | | | |
|
|---|
| ROIC | 1.8% | 0.3% | -0.4% | | | |
| ROE | 6.2% | -4.2% | -17.1% | | | |
| Net Debt/EBITDA | 78.9x | 285.6x | | | 24.1x |
Peers in Photographic Products
Below you can find Jindal Photo benchmarking vs. other companies in Photographic 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 |
|---|
| Photoquip India ($PHOTOQUP) | - | -5.0% | 17.8% | 10.2% | -40.8% |
| Choksi Imaging ($CHOKSI) | - | 23.6% | -25.9% | -36.8% | -57.3% |
| |
|---|
| Median (2 companies) | - | 9.3% | -4.0% | -13.3% | -49.1% |
|---|
| Jindal Photo ($JINDALPHOT) | - | 16.5% | -29.7% | -11.1% | 383.4% |
Top companies by EBITDA margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Choksi Imaging ($CHOKSI) | 3.1% | 1.1% | -2.4% | - | 4.7% |
| |
|---|
| Median (1 company) | 5.2% | 1.2% | -2.4% | -2.5% | 4.7% |
|---|
| Jindal Photo ($JINDALPHOT) | 6.1% | 2.5% | -4.9% | - | 15.7% |
Top companies by ROIC, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Photoquip India ($PHOTOQUP) | - | - | - | - | - |
| Choksi Imaging ($CHOKSI) | 10.2% | 3.6% | - | - | - |
| |
|---|
| Median (2 companies) | 10.2% | 3.6% | - | - | - |
|---|
| Jindal Photo ($JINDALPHOT) | 1.8% | 0.3% | -0.4% | - | - |
Top companies by Net Debt / EBITDA
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Choksi Imaging ($CHOKSI) | 5.7x | 12.4x | - | - | 0.0x |
| |
|---|
| Median (1 company) | 2.8x | 11.2x | - | - | 0.0x |
|---|
| Jindal Photo ($JINDALPHOT) | 78.9x | 285.6x | - | - | 24.1x |
