Sree Sakthi Paper Mills reports 406% EBITDA decline in 2016 and 35.1% Revenue decline
14-06-2016 • About Sree Sakthi Paper Mills (
$SREESAKHTI) • By InTwits
Sree Sakthi Paper Mills reported FY2016 financial results today. Here are the key drivers of the company's long term financial model: Sree Sakthi Paper Mills is a company in decline: FY2016 revenue growth was -35.1%, 5 years revenue CAGR was -11.3%.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Sree Sakthi Paper Mills's Revenue dropped on 35.1%. Revenue decline was accelerating on average at -11.4 pp per annum in the last 5 years. Revenue decline was worsened by EBITDA margin decline. EBITDA Margin decreased on 6.9 pp from 1.2% to -5.7% in FY2016.
Net Income margin decreased on 9.3 pp from -7.6% to -16.9% in FY2016. Net Income margin declined at -5.0 pp per annum in FY2012-FY2016.
Financial and operational results
Sree Sakthi Paper Mills ($SREESAKHTI) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,977 | 2,048 | 2,031 | 1,545 | 1,003 | -35.1% |
| EBITDA | 217 | 189 | | 19 | -57 | -406.0% |
| Net Income | 66 | 47 | 12 | -118 | -170 | |
Balance Sheet
|
|---|
| Cash | 15 | 49 | | | | |
| Short Term Debt | 282 | 184 | | | | |
| Long Term Debt | 196 | 190 | | | | |
Cash flow
|
|---|
| Capex | 261 | | | | | |
Ratios
|
|---|
| Revenue growth | 8.2% | 3.6% | -0.9% | -23.9% | -35.1% | |
| EBITDA growth | 12.8% | -13.0% | | | -406.0% | |
|
|---|
| EBITDA Margin | 11.0% | 9.2% | | 1.2% | -5.7% | -6.9% |
| Net Income Margin | 3.3% | 2.3% | 0.6% | -7.6% | -16.9% | -9.3% |
| CAPEX, % of revenue | 13.2% | | | | | |
|
|---|
| ROIC | 18.6% | 13.9% | | | | |
| ROE | 16.1% | 10.9% | | | | |
| Net Debt/EBITDA | 2.1x | 1.7x | | 0.0x | |
Peers in Paper & Paper Products
Below you can find Sree Sakthi Paper Mills benchmarking vs. other companies in Paper & Paper 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 |
|---|
| Ruchira Papers ($RUCHIRA) | - | 4.6% | 7.6% | -63.6% | 210.9% |
| N.R.Agarwal Industries ($NRAGRINDQ) | - | 4.0% | 5.5% | 34.1% | 21.8% |
| Tcpl Packaging ($TCPLPACK) | - | 33.7% | 5.8% | 26.1% | 16.7% |
| Jk Paper ($JKPAPER) | - | 9.4% | 18.5% | 24.3% | 13.5% |
| Tamil Nadu Newsprint & Papers ($TNPL) | - | 22.2% | 22.8% | -6.5% | 13.2% |
| |
|---|
| Median (13 companies) | 10.0% | 6.6% | 8.4% | 5.0% | 6.0% |
|---|
| Sree Sakthi Paper Mills ($SREESAKHTI) | - | 3.6% | -0.9% | -23.9% | -35.1% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Tamil Nadu Newsprint & Papers ($TNPL) | 21.0% | 22.2% | 22.5% | 24.0% | 24.3% |
| Tcpl Packaging ($TCPLPACK) | 16.1% | 14.9% | 15.7% | 16.5% | 17.3% |
| South India Paper Mills ($STHINPA) | 13.5% | 16.1% | 10.2% | 15.8% | 17.3% |
| Yash Papers ($YASHPPR) | 15.7% | 16.8% | 16.0% | 15.7% | - |
| Kuantum Papers ($KUANTUM) | 11.2% | 14.2% | 15.9% | 12.7% | 29.6% |
| |
|---|
| Median (15 companies) | 12.2% | 14.4% | 14.5% | 10.1% | 16.9% |
|---|
| Sree Sakthi Paper Mills ($SREESAKHTI) | 11.0% | 9.2% | - | 1.2% | -5.7% |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Tamil Nadu Newsprint & Papers ($TNPL) | 18.9% | 10.4% | 5.5% | 35.2% | 37.4% |
| Emami Paper Mills ($EMAMIPAP) | 24.4% | 7.3% | 19.2% | 89.3% | 21.7% |
| Tcpl Packaging ($TCPLPACK) | 18.3% | 8.6% | 11.1% | 12.1% | 14.8% |
| Jk Paper ($JKPAPER) | 47.6% | 59.5% | 15.9% | 4.2% | 1.6% |
| |
|---|
| Median (4 companies) | 11.3% | 9.5% | 13.5% | 23.6% | 18.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Tcpl Packaging ($TCPLPACK) | 15.4% | 17.4% | 16.9% | 23.1% | 23.3% |
| Tamil Nadu Newsprint & Papers ($TNPL) | 5.3% | 8.2% | 11.1% | 12.7% | 13.5% |
| Jk Paper ($JKPAPER) | 5.2% | 2.7% | 1.1% | 4.3% | 10.5% |
| Emami Paper Mills ($EMAMIPAP) | 5.8% | 5.9% | 5.4% | 3.0% | 2.0% |
| Ruchira Papers ($RUCHIRA) | 15.4% | 20.2% | - | - | - |
| |
|---|
| Median (19 companies) | 7.9% | 8.2% | 11.1% | 8.5% | 12.0% |
|---|
| Sree Sakthi Paper Mills ($SREESAKHTI) | 18.6% | 13.9% | - | - | - |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Emami Paper Mills ($EMAMIPAP) | 7.4x | 5.3x | 5.0x | 11.2x | 16.7x |
| Tamil Nadu Newsprint & Papers ($TNPL) | 5.4x | 3.6x | 2.8x | 4.0x | 4.4x |
| Jk Paper ($JKPAPER) | 6.8x | 12.7x | 14.1x | 8.6x | 4.0x |
| Tcpl Packaging ($TCPLPACK) | 2.6x | 2.3x | 2.2x | 1.9x | 1.9x |
| South India Paper Mills ($STHINPA) | 0.6x | 0.2x | 0.0x | 0.0x | 0.7x |
| |
|---|
| Median (14 companies) | 3.6x | 3.3x | 0.0x | 0.0x | 0.0x |
|---|
