Remi Edelstahl Tubulars revenue dropped on 41.4%
30-05-2016 • About Remi Edelstahl Tubulars (
$REMIEDEL) • By InTwits
Remi Edelstahl Tubulars reported FY2016 financial results today. Here are the key drivers of the company's long term financial model:
- Remi Edelstahl Tubulars is a company in decline: FY2016 revenue growth was -41.4%, 5 years revenue CAGR was -4.8%
- It operates with high leverage: Net Debt/EBITDA is 3.4x while industry average is 1.4x
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue dropped on 41.4%.
Net Income margin decreased on 5.1 pp from -0.98% to -6.0% in FY2016. During FY2012-FY2016 Net Income margin topped in FY2013 at 1.2% and was declining since that time.
Financial and operational results
Remi Edelstahl Tubulars ($REMIEDEL) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,815 | 1,619 | 1,224 | 1,722 | 1,008 | -41.4% |
| EBITDA | 118 | 104 | | 98 | | |
| Net Income | 13 | 19 | -10 | -17 | -61 | |
Balance Sheet
|
|---|
| Cash | 0 | 17 | | | | |
| Short Term Debt | 387 | 269 | | | | |
| Long Term Debt | 266 | 248 | | | | |
Cash flow
|
|---|
| Capex | 102 | | | | | |
Ratios
|
|---|
| Revenue growth | 40.9% | -10.8% | -24.4% | 40.7% | -41.4% | |
| EBITDA growth | 36.5% | -11.7% | | | | |
|
|---|
| EBITDA Margin | 6.5% | 6.4% | | 5.7% | |
| Net Income Margin | 0.7% | 1.2% | -0.9% | -1.0% | -6.0% | -5.1% |
| CAPEX, % of revenue | 5.6% | | | | | |
|
|---|
| ROIC | 8.5% | 6.5% | | | | |
| ROE | 2.9% | 4.1% | | | | |
| Net Debt/EBITDA | 5.5x | 4.8x | | 0.0x | |
Peers in Iron & Steel Products
Below we provide Remi Edelstahl Tubulars benchmarking against other companies in Iron & Steel Products 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 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Bedmutha Industries ($BEDMUTHA) | - | -7.4% | 2.7% | 44.6% | 52.8% |
| Apl Apollo Tubes ($APLAPOLLO) | - | 44.2% | 24.3% | 25.7% | 34.3% |
| Vallabh Steels ($VALLABHSQ) | - | -9.7% | -15.7% | -18.8% | 15.8% |
| Electrotherm (India) ($ELECTHERM) | - | - | - | - | 11.0% |
| Nile ($NILE) | - | -19.1% | 6.9% | 38.7% | 10.2% |
| |
|---|
| Median (9 companies) | 20.4% | -6.2% | 7.5% | 7.9% | 10.2% |
|---|
| Remi Edelstahl Tubulars ($REMIEDEL) | - | -10.8% | -24.4% | 40.7% | -41.4% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Gandhi Special Tubes ($GANDHITUBE) | - | - | - | 25.5% | - |
| National Fittings ($NATFIT) | - | - | - | 19.3% | - |
| Usha Martin ($USHAMART) | 13.2% | 18.1% | 18.7% | 16.5% | 8.5% |
| Shree Steel Wire Ropes ($SSWRL) | - | - | - | 12.5% | - |
| Lakshmi Precision Screws ($LAKPRE) | 15.9% | 16.2% | 7.0% | 12.4% | - |
| |
|---|
| Median (14 companies) | 5.5% | 6.5% | 6.8% | 6.4% | 4.5% |
|---|
| Remi Edelstahl Tubulars ($REMIEDEL) | 6.5% | 6.4% | - | 5.7% | - |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Usha Martin ($USHAMART) | 21.6% | 23.5% | 29.0% | 13.2% | 9.2% |
| Apl Apollo Tubes ($APLAPOLLO) | 5.6% | 4.2% | 5.1% | 5.9% | 3.0% |
| Gandhi Special Tubes ($GANDHITUBE) | - | - | - | 4.0% | - |
| |
|---|
| Median (3 companies) | 6.2% | 2.5% | 15.4% | 5.9% | 6.1% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Apl Apollo Tubes ($APLAPOLLO) | 18.2% | 19.5% | 16.0% | 16.6% | 22.7% |
| Lakshmi Precision Screws ($LAKPRE) | 14.4% | 11.9% | 3.1% | 11.9% | - |
| Gandhi Special Tubes ($GANDHITUBE) | 28.3% | 18.9% | 13.2% | 11.1% | 13.3% |
| Usha Martin ($USHAMART) | 4.3% | 6.5% | 7.6% | 5.6% | 0.7% |
| Gujarat Containers ($GUJCONT) | - | 20.0% | - | - | - |
| |
|---|
| Median (24 companies) | 8.5% | 8.7% | 6.7% | 11.5% | 13.3% |
|---|
| Remi Edelstahl Tubulars ($REMIEDEL) | 8.5% | 6.5% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Usha Martin ($USHAMART) | 10.0x | 4.8x | 4.8x | 5.2x | 11.4x |
| Lakshmi Precision Screws ($LAKPRE) | 2.7x | 3.4x | 8.1x | 4.4x | - |
| Apl Apollo Tubes ($APLAPOLLO) | 2.7x | 2.8x | 3.1x | 2.3x | 2.1x |
| Uni Abex Alloy Products ($UNIABEXAL) | 0.0x | 1.6x | 0.0x | 0.0x | - |
| National Fittings ($NATFIT) | 0.8x | 0.1x | 0.0x | 0.0x | 0.0x |
| |
|---|
| Median (12 companies) | 2.6x | 3.1x | 0.0x | 0.0x | 0.0x |
|---|
| Remi Edelstahl Tubulars ($REMIEDEL) | 5.5x | 4.8x | - | 0.0x | - |
