Elantas Beck India reports 30.5% Net Income growth in 2016 and 6.2% Revenue growth
21-02-2017 • About Elantas Beck India (
$ELANTAS) • By InTwits
Elantas Beck India reported FY2016 financial results today. Here are the key drivers of the company's long term financial model: The company has highly profitable business model: ROIC is 37.3%.
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Elantas Beck India's Revenue increased on 6.2%. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin increased on 3.3 pp from 18.3% to 21.6% in FY2016.
Net Income margin increased on 2.8 pp from 12.2% to 15.0% in FY2016.
Return on investment
The company operates at high and attractive ROIC (37.3%) and ROE (27.7%). ROIC increased slightly on 0.73 pp from 36.6% to 37.3% in FY2016. ROE increased slightly on 0.51 pp from 27.2% to 27.7% in FY2016.
Leverage (Debt)
The company has no debt. Cash surged on 59.4%.
Valuation and dividends
Elantas Beck India's trades at EV/EBITDA 15.6x and P/E 22.8x while industy averages are 17.8x and 21.9x.
Management team
The company's CEO Ravindra Kumar has spent 6 years with the company.
Financial and operational results
Elantas Beck India ($ELANTAS) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 2,732 | 3,031 | 3,401 | 3,430 | 3,642 | 6.2% |
| EBITDA | 373 | 462 | 439 | 627 | 786 | 25.5% |
| Net Income | 276 | 318 | 316 | 418 | 545 | 30.5% |
Balance Sheet
|
|---|
| Cash | 146 | 104 | 65 | 108 | 172 | 59.4% |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | |
Cash flow
|
|---|
| Capex | 75 | 42 | 33 | 67 | | |
Ratios
|
|---|
| Revenue growth | 2.4% | 10.9% | 12.2% | 0.9% | 6.2% | |
| EBITDA growth | 3.5% | 24.0% | -5.0% | 42.8% | 25.5% | |
|
|---|
| EBITDA Margin | 13.6% | 15.2% | 12.9% | 18.3% | 21.6% | 3.3% |
| Net Income Margin | 10.1% | 10.5% | 9.3% | 12.2% | 15.0% | 2.8% |
| CAPEX, % of revenue | 2.7% | 1.4% | 1.0% | 2.0% | | |
|
|---|
| ROIC | 20.4% | 33.9% | 31.0% | 36.6% | 37.3% | 0.7% |
| ROE | 17.6% | 26.9% | 25.9% | 27.2% | 27.7% | 0.5% |
| Net Debt/EBITDA | -0.4x | -0.2x | -0.1x | -0.2x | -0.2x | -0.0x |
Peers in Commodity Chemicals
Below you can find Elantas Beck India benchmarking vs. other companies in Commodity Chemicals 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 |
|---|
| Andhra Petrochemicals ($ANDHRAPET) | - | -5.8% | -53.9% | -45.9% | 139.3% |
| Iol Chemicals & Pharmaceuticals ($IOLCP) | - | 2.3% | 17.0% | -31.7% | 49.1% |
| Tuticorin Alkali Chemicals & Fertilisers ($TUTIALKA) | - | -27.9% | -83.3% | 408.0% | 18.3% |
| Indo Amines ($INDOAMIN) | - | 4.4% | 10.7% | -2.6% | 17.2% |
| Godrej Industries ($GODREJIND) | - | 24.1% | 13.7% | 16.6% | 16.5% |
| |
|---|
| Median (35 companies) | 103.3% | 9.9% | 10.6% | 6.3% | -2.3% |
|---|
| Elantas Beck India ($ELANTAS) | - | 10.9% | 12.2% | 0.9% | 6.2% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Riddhi Siddhi Gluco Biols ($RIDDHI) | - | - | - | 104.7% | - |
| Mysore Petro Chemicals ($MYSORPETRO) | - | - | - | 47.1% | - |
| Aditya Birla Chemicals (India) ($ABCIL) | 26.8% | 27.1% | 23.6% | 21.9% | - |
| Indo Borax & Chemicals ($INDOBORAX) | - | - | - | 21.3% | - |
| Chemfab Alkalis ($CHEMFALKAL) | 22.3% | 32.9% | 24.2% | 19.8% | 23.2% |
| |
|---|
| Median (50 companies) | 9.6% | 8.3% | 8.5% | 6.6% | 10.6% |
|---|
| Elantas Beck India ($ELANTAS) | 13.6% | 15.2% | 12.9% | 18.3% | 21.6% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kanoria Chemicals & Industries ($KANORICHEM) | 25.1% | 6.0% | 13.4% | 40.3% | 28.7% |
| Aarti Industries ($AARTIIND) | 8.0% | 11.2% | 11.0% | 10.4% | 16.8% |
| Alkyl Amines Chemicals ($ALKYLAMINE) | 5.1% | 6.6% | 5.9% | 8.6% | 7.3% |
| Jindal Poly Films ($JINDPOLBBPH) | 6.9% | 2.1% | 27.5% | 3.1% | 7.3% |
| Andhra Sugars ($ANDHRSUGAR) | 5.3% | 4.2% | 3.2% | 4.0% | 6.5% |
| |
|---|
| Median (18 companies) | 5.3% | 7.2% | 5.9% | 3.3% | 4.7% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Bodal Chemicals ($BODALCHEM) | -1.3% | 3.3% | 39.0% | 38.3% | 33.1% |
| Transpek Industry ($TRANSPEK) | -1.7% | 14.2% | 11.0% | 17.8% | 26.9% |
| Alkyl Amines Chemicals ($ALKYLAMINE) | 16.0% | 18.7% | 25.0% | 23.7% | 24.7% |
| Balaji Amines ($BALAMINES) | 19.3% | 16.1% | 15.6% | 16.5% | 21.2% |
| Thirumalai Chemicals ($TIRUMALCHM) | 13.0% | 23.2% | 12.5% | 5.3% | 21.2% |
| |
|---|
| Median (57 companies) | 9.0% | 9.5% | 8.9% | 7.9% | 12.7% |
|---|
| Elantas Beck India ($ELANTAS) | 20.4% | 33.9% | 31.0% | 36.6% | 37.3% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Riddhi Siddhi Gluco Biols ($RIDDHI) | 6.2x | 6.9x | 0.1x | 0.9x | 105.8x |
| Kanoria Chemicals & Industries ($KANORICHEM) | 5.2x | 9.6x | 3.5x | 9.4x | 10.1x |
| Godrej Industries ($GODREJIND) | 9.9x | 5.7x | 7.9x | 10.7x | 10.0x |
| Iol Chemicals & Pharmaceuticals ($IOLCP) | 5.8x | 4.5x | 3.7x | 35.4x | 8.8x |
| India Glycols ($INDIAGLYCO) | 4.8x | 3.7x | 8.5x | 14.2x | 6.7x |
| |
|---|
| Median (33 companies) | 2.6x | 3.2x | 1.4x | 1.1x | 1.0x |
|---|
| Elantas Beck India ($ELANTAS) | -0.4x | -0.2x | -0.1x | -0.2x | -0.2x |
