Vallabh Steels revenue jumped on 15.8%
30-05-2016 • About Vallabh Steels (
$VALLABHSQ) • By InTwits
Vallabh Steels reported FY2016 financial results today. Here are the key drivers of the company's long term financial model: EBITDA Margin is declining: in FY2016 vs. in FY2015 vs. 4.8% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue surged on 15.8%. During the last 5 years Revenue growth bottomed in FY2015 at -18.8%.
Net Income margin decreased slightly on 0.80 pp from 1.7% to 0.86% in FY2016.
Financial and operational results
Vallabh Steels ($VALLABHSQ) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 2,229 | 2,012 | 1,696 | 1,377 | 1,594 | 15.8% |
| EBITDA | 107 | 90 | 64 | | | |
| Net Income | 16 | 14 | 26 | 23 | 14 | -40.1% |
Balance Sheet
|
|---|
| Cash | 18 | 27 | | | | |
| Short Term Debt | 592 | 697 | | | | |
| Long Term Debt | 26 | 4 | | | | |
Cash flow
|
|---|
| Capex | 16 | 8 | | | | |
Ratios
|
|---|
| Revenue growth | -0.7% | -9.7% | -15.7% | -18.8% | 15.8% | |
| EBITDA growth | 53.3% | -16.5% | -28.9% | | | |
|
|---|
| EBITDA Margin | 4.8% | 4.5% | 3.8% | | |
| Net Income Margin | 0.7% | 0.7% | 1.5% | 1.7% | 0.9% | -0.8% |
| CAPEX, % of revenue | 0.7% | 0.4% | | | | |
|
|---|
| ROIC | 8.5% | 6.8% | | | | |
| ROE | 4.0% | 3.4% | | | | |
| Net Debt/EBITDA | 5.6x | 7.5x | 0.0x | | |
Peers in Iron & Steel Products
Below we provide Vallabh Steels 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% |
| Electrotherm (India) ($ELECTHERM) | - | - | - | - | 11.0% |
| Nile ($NILE) | - | -19.1% | 6.9% | 38.7% | 10.2% |
| Usha Martin ($USHAMART) | - | 7.8% | 12.5% | 12.0% | -9.1% |
| |
|---|
| Median (9 companies) | 20.4% | -6.2% | 7.5% | 12.0% | -9.1% |
|---|
| Vallabh Steels ($VALLABHSQ) | - | -9.7% | -15.7% | -18.8% | 15.8% |
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 ($LAKPRE) | 15.9% | 16.2% | 7.0% | 12.4% | - |
| |
|---|
| Median (15 companies) | 6.5% | 6.9% | 7.0% | 5.9% | 4.5% |
|---|
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Usha Martin ($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% | 3.4% | 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 ($GUJCONT) | - | 20.0% | - | - | - |
| |
|---|
| Median (24 companies) | 8.5% | 8.7% | 6.7% | 11.5% | 13.3% |
|---|
| Vallabh Steels ($VALLABHSQ) | 8.5% | 6.8% | - | - | - |
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 (13 companies) | 2.6x | 3.1x | 0.0x | 0.0x | 0.0x |
|---|
