Fertilizers & Chemicals Travancore reports 2,795% EBITDA growth in 2020 and 9.6 pp EBITDA Margin growth from 0.49% to 10.1%
24-09-2020 • About Fertilizers & Chemicals Travancore (
$FACT) • By InTwits
Fertilizers & Chemicals Travancore reported FY2020 financial results today. Here are the key drivers of the company's long term financial model:
- EBITDA Margin is quite volatile: 10.1% in FY2020, 0.5% in FY2019, 8.7% in FY2018, 2.4% in FY2017, -11.9% in FY2016
- Fertilizers & Chemicals Travancore has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.2%.
- The company has highly profitable business model: ROIC is 42.1%
- It operates with medium-size leverage: Net Debt/EBITDA is 3.2x while industry average is 2.8x
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Fertilizers & Chemicals Travancore's Revenue jumped on 41.7%. Despite revenue decline the EBITDA margin expanded. EBITDA Margin increased on 3.9 pp from -11.7% to -7.8% in FY2020.
Net Income margin jumped on 26.9 pp from 8.3% to 35.2% in FY2020. Net Income margin grew at 14.5 pp per annum in the last 5 years.
Leverage (Debt)
Debt level is 3.2x Net Debt / EBITDA and 3.3x Debt / EBITDA. Net Debt / EBITDA dropped on 232.0x from 235.2x to 3.2x in FY2020. Debt dropped on 59.1% while cash surged on 658%.
Fertilizers & Chemicals Travancore has no short term refinancing risk: cash is higher than short term debt (197.2%).
Management team
Alagarsamy Ganesan is a the company's CFO. Alagarsamy Ganesan has spent 1 year at the company.
Financial and operational results
FY ended 31-03-2020
Fertilizers & Chemicals Travancore ($FACT) key annual financial indicatorsmln. INR | 2016 | 2017 | 2018 | 2019 | 2020 | 2020/2019 |
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P&L
|
---|
Revenue | 17,360 | 18,833 | 19,287 | 19,546 | 27,699 | 41.7% |
EBITDA | -2,069 | 452 | 1,679 | 96 | 2,791 | 2,794.5% |
Net Income | -4,522 | -2,627 | -1,291 | 1,627 | 9,755 | 499.6% |
Balance Sheet
|
---|
Cash | 202 | 323 | 461 | 64 | 487 | 657.9% |
Short Term Debt | 1,835 | 6,318 | 5,074 | 4,779 | 247 | -94.8% |
Long Term Debt | 16,271 | 17,705 | 17,705 | 17,960 | 9,056 | -49.6% |
Cash flow
|
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Capex | 32 | 77 | 91 | 0 | 0 | |
Ratios
|
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Revenue growth | -12.3% | 8.5% | 2.4% | 1.3% | 41.7% | |
EBITDA growth | 25.4% | -121.9% | 271.0% | -94.3% | 2,794.5% | |
|
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EBITDA Margin | -11.9% | 2.4% | 8.7% | 0.5% | 10.1% | 9.6% |
Net Income Margin | -26.0% | -13.9% | -6.7% | 8.3% | 35.2% | 26.9% |
CAPEX, % of revenue | 0.2% | 0.4% | 0.5% | 0.0% | 0.0% | |
|
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ROIC | -60.9% | 3.4% | 19.7% | -1.9% | 42.1% | 44.0% |
Net Debt/EBITDA | | 52.4x | 13.3x | 235.2x | 3.2x | -232.0x |
Peers in
Below you can find Fertilizers & Chemicals Travancore benchmarking vs. other companies in 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 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
---|
Ginni Filaments ($GINNIFIL) | - | 0.4% | -7.5% | 14.6% | -1.3% |
|
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Median (1 company) | 5.2% | -8.6% | -9.4% | 14.6% | -1.3% |
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Fertilizers & Chemicals Travancore ($FACT) | - | 8.5% | 2.4% | 1.3% | 41.7% |
Top companies by EBITDA margin, %
Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
---|
Vardhman Acrylics ($VARDHACRLC) | 9.9% | 10.2% | 9.6% | - | 8.0% |
Ginni Filaments ($GINNIFIL) | 9.6% | 10.3% | 7.5% | 6.4% | 7.5% |
|
---|
Median (2 companies) | 10.3% | 10.3% | 8.6% | 6.4% | 7.8% |
---|
Fertilizers & Chemicals Travancore ($FACT) | -11.9% | 2.4% | 8.7% | 0.5% | 10.1% |
Top companies by CAPEX/Revenue, %
Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
---|
Vardhman Acrylics ($VARDHACRLC) | 0.8% | 0.3% | 0.5% | - | 1.8% |
Ginni Filaments ($GINNIFIL) | - | 4.3% | 5.1% | 1.4% | 1.2% |
|
---|
Median (2 companies) | 4.2% | 2.3% | 2.8% | 1.4% | 1.5% |
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Fertilizers & Chemicals Travancore ($FACT) | 0.2% | 0.4% | 0.5% | 0.0% | 0.0% |
Top companies by ROIC, %
Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
---|
Ginni Filaments ($GINNIFIL) | 9.8% | 12.4% | 6.2% | 5.6% | 6.9% |
Vardhman Acrylics ($VARDHACRLC) | - | 9.4% | 7.5% | - | - |
|
---|
Median (2 companies) | 5.3% | 10.9% | 6.8% | 5.6% | 6.9% |
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Fertilizers & Chemicals Travancore ($FACT) | -60.9% | 3.4% | 19.7% | -1.9% | 42.1% |
Top companies by Net Debt / EBITDA
Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
---|
Ginni Filaments ($GINNIFIL) | 3.4x | 2.9x | 5.0x | 5.4x | 5.1x |
Vardhman Acrylics ($VARDHACRLC) | -0.0x | -0.2x | -0.1x | - | -4.6x |
|
---|
Median (2 companies) | 0.7x | 1.3x | 2.5x | 5.4x | 0.2x |
---|
Fertilizers & Chemicals Travancore ($FACT) | - | 52.4x | 13.3x | 235.2x | 3.2x |