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Kanishk Steel Industries reports 10.3% revenue decline in FY2016

31-05-2016 • About Kanishk Steel Industries ($KANSHST) • By InTwits

Kanishk Steel Industries reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: Kanishk Steel Industries is a company in decline: FY2016 revenue growth was -10.3%, 5 years revenue CAGR was -8.4%.

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 10.3%.

Net Income margin increased slightly on 1.6 pp from 0.088% to 1.7% in FY2016.

Management team


Kanishk Steel Industries's CFO Vishal Keyal has spent 5 years with the company.

Financial and operational results


Kanishk Steel Industries ($KANSHST) key annual financial indicators

mln. INR201220132014201520162016/2015
P&L
Revenue6,0244,3992,9303,0382,726-10.3%
EBITDA150937
Net Income2610123471,659.7%
Balance Sheet
Cash573
Short Term Debt269101
Long Term Debt5776
Cash flow
Capex17
Ratios
Revenue growth42.5%-27.0%-33.4%3.7%-10.3%
EBITDA growth34.8%-38.0%
EBITDA Margin2.5%2.1%0.3%
Net Income Margin0.4%0.2%0.4%0.1%1.7%1.6%
CAPEX, % of revenue0.3%
ROIC4.6%5.6%
ROE3.0%1.6%
Net Debt/EBITDA5.6x0.4x0.0x

Peers in Iron & Steel Products


Below you can find Kanishk Steel Industries benchmarking vs. other companies in Iron & Steel 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 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 (11 companies)9.9%-6.2%7.5%12.0%-9.1%
Kanishk Steel Industries ($KANSHST)--27.0%-33.4%3.7%-10.3%


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%6.8%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%2.5%15.4%5.9%6.1%


Top companies by ROIC, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Apl Apollo Tubes ($APLAPOLLO)18.2%19.5%16.0%16.6%22.7%
Gandhi Special Tubes ($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%---
Uni Abex Alloy Products ($UNIABEXAL)21.3%13.5%---
 
Median (21 companies)8.5%8.7%6.7%11.5%13.3%
Kanishk Steel Industries ($KANSHST)4.6%5.6%---


Top companies by Net Debt / EBITDA

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Usha Martin ($USHAMART)10.0x4.8x4.8x5.2x11.4x
Apl Apollo Tubes ($APLAPOLLO)2.7x2.8x3.1x2.3x2.1x
Gujarat Containers ($GUJCONT)2.6x2.6x0.0x-0.0x
Mukat Pipes ($MUKATPIP)--0.0x-0.0x
Rathi Bars ($RATHIBAR)0.0x3.9x-0.0x0.0x
 
Median (10 companies)2.6x3.7x0.0x0.0x0.0x
Kanishk Steel Industries ($KANSHST)5.6x0.4x--0.0x


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