Post on 14-Apr-2018
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
1/12
2013 Issue 34 Week Ending 23-08-2013
Weekly Market Wrap UpStat Page Pg 02
Weekly Stock Trends Pg 03
S&P SL20 Watch Pg 04
Local Economy in BriefCurrency Moves Pg 05
Inflation & Interest Rates Pg 06
Colombo Tea Auction Pg 06
Tourism Pg 06
Global MarketEquity Market Outlook Pg 07
Global Commodity Trend Pg 08
Research Chat:Lanka IOCQuick View on Earnings Pg 09
Our Core Coverage Pg 10- Pg 11
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
2/12
Current WoW %
ASPI 5951.83 -4.5%
S&P SL20 3342.96 -4.3%
Turnover (LKR 'bn) 3,715.3 -6.3%
Volume ('mn) 94.2 -34.3%
Market Cap. (LKR 'bn) 2,451.4 -4.5%
LKR ('mn) Current WoW %
Foreign Purchases 2,398.2 6.9%
Foreign Sales 1,376.9 9.7%
Net Foreign Inflow 1,021.3 3.3%
Foreign Participation 40% -3.4%
Net Foreign -971 1021
Current WoW %
PER 16.9 -4.5%
PBV 2.3 -4.5%
DY 2.6 4.0%
Current WoW %
BANKS FINANCE & INS. 12,799.6 -2.3%
BEV. FOOD & TOBACCO 20,099.1 -11.3%
CHEM. & PHARMA. 6,600.6 -2.5%
CONS. & ENG. 2,793.9 -3.6%
DIVERSIFIED 1,835.6 -4.0%
HEALTH CARE 646.0 -1.5%
HOTELS & TRAVELS 3,171.8 -1.5%
HNB[X.0000] (+) 28.47% JKH -0.50% LAND & PROPERTY 548.9 -4.1%
SAMPATH (+) 10.13% UNION BANK (+) -1.42% MANUFACTURING 2,969.3 -2.8%
HDFC (+) 4236.6% LION BREWERY -0.25% MOTORS 15,091.2 -2.8%
TOKYO CEMENT 10.14% CHEVRON (+) -0.1% PLANTATIONS 703.6 -2.3%
COMMERCIAL BANK (+) 0.24% KELANI TYRES -1.21% TELECOM 156.9 -2.4%
362
572.1
Change in Foreign Holding
Decline in
Value
LKR 'mn
Decline in Foreign Holding
Growth in
Foreign
Holding
Growth in Foreign Holding
2,899.0
1,911.8
655.9
6,768.1
-581.5
Weekly Stat Page
Previous
Weekly Market Statistics
Weekly Foreign Flow
Weekly Market Valuations
Weekly Sector Statistics
Decline in
Foreign
Holding 3,219.4
3,053.6
15,518.4
Previous
6233.21
720.1
160.9
3491.55
3,964.7
17.7
2.4
2.5
Previous
13,097.1
22,656.4
988.8
41%
2,243.7
1,254.9
143.4
2,567.3
Previous
-24.2
-9.8
-4.8
989
Growth in
Value
LKR 'mn
802.7
381.6
257.3
147.1
77.5
-39.0
5,800
5,900
6,000
6,100
6,200
6,300
Daily Index Movement
ASPI
0
50
100
150
200
0
1,000
2,000
3,000
4,000
5,000
2-Aug 9-Aug 16-Aug 23-Aug
('Mn)
LKR('Mn)
Weekly Turnover and Volume
Turnover (LHS) Volume (RHS)
0
500
1,000
1,500
2,0002,500
3,000
2-Aug 9-Aug 16-Aug 23-Aug
LKR('Mn)
Weekly Foreign Purchases and Sales
Foreign Buying Foreign Sales
0%
10%
20%
30%
40%50%
60%
70%
80%
Daily Foreign Activity
Fo re ign Activity Line ar (F oreign Activity)
Page | 2
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
3/12
Company WoW %
SINHAPUTHRA FIN 31.07%
G S FINANCE 22.73%
PCH HOLDINGS 14.29%
AMF CO LTD 11.18%ASIA CAPITAL 9.50%
Company WoW %
CIFL -22.22%
SERENDIB ENG.GRP -22.22%
CEYLON TOBACCO -18.83%
CARGO BOAT -16.85%
CEYLINCO INS. -15.12%
Company WoW %
HNB[NON VOTING] 0.18%
JKH -6.43%
SAMPATH -1.46%
HDFC -2.00%
COMMERCIAL BANK -2.09%
Company WoW %
HDFC -2.00%
HNB[NON VOTING] 0.18%
S M B LEASING[NON V 0.00%
HEMAS HOLDINGS -3.61%
TEXTURED JERSEY -2.16%
200.00
0.50
300.0019.50
52 High 52 Low
52 High 52 Low
132.50 95.50
210.00 81.50
1,400.50 670.00
151.00 72.00
1,300.00 735.00
67.40 33.10
299.80 195.00
242.00 172.50
109.00
1,500.00
12.50
439.5038.00
0.30
32.00
13.50
Low
82.30
675.00
52 High
11.80
132.50
0.70
360.0020.00
110.50
1,100.70
114.00
240.00
188.50
33.10
116.50
Weekly Top Losers
Weekly Top Performers
Weekly Top Volume
Low
Low
Low
0.70
135.00
1,100.00
7,512,238
1,945,021
Volume
Turnover
855,803,214
844,652,981
529,298,937
300,419,494
Volume
7,289,980
3,451,221
67.40
52 Low
0.70
95.50
4,561,741
33.10
114.00
7,512,238
7,289,980
5,834,984
5,296,187
126.00
0.60
38.40
15.00
99.00
0.30
23.10
7.80
33.10
2,785,713
High
108.00
675.00
0.80
367.7021.90
Turnover
1,168,655
675
1,609,175
2,92513,188
Volume
13,202
1
2,242,312
8612
Previous
82.40
550.00
0.70
330.0020.00
Current
108.00
675.00
0.80
366.9021.90
Weekly Stock Trends
52 Low
67.00
Weekly Top Gainers
52 High
Turnover
1,251,670
792,202
16,931,207
594,441
172,002
Volume
1,498,245
5,659
13,514
5,170
156
High
1.00
178.00
1,385.00
130.00
1,105.40
119.50
Previous
0.90
180.00
1,365.30
132.90
1,299.00
High
115.00
260.00
Previous
114.10
256.80
Current
0.70
140.00
1,108.20
110.50
1,102.60
Current
114.30
240.30
189.00
34.30
117.00
Turnover
300,419,494
855,803,214
Previous
35.00
114.10
230,098,367
193.90
36.00
119.80
191.80
35.00
1,751,636
181,205,887
62,090,833
High
36.00
115.00
0.40
34.00
14.00
0.30
33.20
13.90
Current
34.30
114.30
0.30
32.00
13.60
Page | 3
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
4/12
DIVIDENDS
RIGHTS ISSUE
The Kingsbury
Pelwatte Sugar
S&P SL20 Companies Previous WoW % ###
JOHN KEELLS HOLDINGS 256.80 -6.43% ###
COMMERCIAL BANK 119.50 -2.09% ###THE BUKIT DARAH 690.00 -0.90% SCRIP DIVIDEND
HATTON NATIONAL BANK 155.00 -3.23%
CARSONS CUMBERBATCH 393.00 -0.76%
SAMPATH BANK 191.80 -1.46%
CEYLON TOBACCO COMPANY 1,365.30 -18.83%
DFCC BANK 129.50 -1.16% CAPITALIZATION OF RESERVES
AITKEN SPENCE 122.00 -0.82%
NATIONAL DEVELOPMENT BANK 162.20 -5.61%
C T HOLDINGS 140.10 -0.07%
DISTILLERIES 192.70 -0.36%HAYLEYS 300.00 -2.33% SUBDIVISION OF SHARES
CHEVRON LUBRICANTS LANKA 308.00 -2.60%
DIALOG AXIATA 8.60 -1.16%
CARGILLS (CEYLON) 152.00 -0.99%
AITKEN SPENCE HOTEL HOLDINGS 69.00 -3.33% CONSOLIDATION OF SHARES
NESTLE LANKA 2,441.30 -9.67%
ASIAN HOTELS & PROPERTIES 71.90 -4.73%
SRI LANKA TELECOM 40.90 -3.67%
1,204,578
8,320,441
496,657
36,495
20,852,780
2,171,384
10,963,617
1,811,928
52,857,653
252,026
101,977
0-Jan-1900 0-Jan-1900
0-Jan-1900
0 0
0-Jan-1900 0 0
0-Jan-1900
0-Jan-1900 0-Jan-1900
51,443,173
0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900
Company Proportion EGM Date Trading Date
0-Jan-1900
Company Proportion
14,479,011
21,287,072
278,845
0-Jan-1900
Distilleries Company
Colonial Motors
15-08-201303 for 08 @ LKR10.0
01 for 04 @ LKR18.0
0Turnover
844,652,981
Company
XD Date
529,298,937
16,931,207
0-Jan-1900 0-Jan-1900 0-Jan-19000-Jan-1900
0-Jan-1900
0-Jan-1900
XD DateEGM DateProportionCompany
0-Jan-1900
0-Jan-19000-Jan-1900
230,098,367286,616
S & P SL20 Debrief
Proportion
Announcements
Company Dividend (LKR)
30-09-2013
To be notified
07-10-2013
To be notified
0.10Renuka Agri Foods
Renuka Holdings
Renuka Shaw Wallace
26-09-2013
26-09-2013
26-09-2013
04-10-2013
04-10-2013
04-10-2013
Payment
Chilaw Finance
0-Jan-1900
0.70
0.30
0
Elpitiya Plantations
0-Jan-19000-Jan-1900
0-Jan-1900
EGM Date Trading Date
2,205.20
68.50
39.40
Delayed
0
08-10-2013
00-01-1900
00-01-1900
0-Jan-1900 0-Jan-1900
Company Proportion EGM Date XC Date
0-Jan-19000-Jan-1900
0-Jan-1900 0-Jan-1900
0-Jan-1900
0-Jan-1900
0
0
0-Jan-1900
0
27-09-2013
02-09-2013
Delayed
00-01-1900
0.50
3.00
3.00
0.50
0.00
00
0
0
00-01-1900
Renunciation
0
XR Date
Current
240.30
117.00683.80
150.00
390.00
189.00
1,108.20
128.00
121.00
153.10
140.00
192.00293.00
300.00
8.50
150.50
66.70
3,250
3,300
3,350
3,400
3,450
3,500
3,550
Daily Index Movement
S&P SL20
Page | 4
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
5/12
Local Economy
CURRENCY MOVES
122
124
126
128
130
132134
LKR USD : LKR
1.20
1.25
1.30
1.35
1.40
LKR Japanese Yen : LKR
155
160
165
170
175
180
LKR EURO : LKR
98
99100
101
102
103
104
105
LKR Singapore Dollar : LKR
185
190
195
200
205
210
LKR GBP : LKR
1.95
2.002.05
2.10
2.15
2.20
2.25
2.30
LKR Indian Rupee : LKR
Page | 5
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
6/12
BALANCE OF TRADE TOURISM
For the Month Ending: Jun-13 For the Month Ending:
Jun-13 MoM % Jun-12 2013 2012
Exports 807 2% 756 Jun-13 73,628 65,245
Imports 1,637 6% 1,419 YTD 512,281 452,867
Balance of Trade -829 -10% -663
COLOMBO TEA AUCTION STATISTICS
Sale of
14-Aug-13 WoW %
High Grown 402.23 2.46%
Mid Grown 388.31 1.26%
Low Grown 453.08 1.37%
Total 437.32 1.68%
COLOMBO RUBBER AUCTION STATISTICS
For the Month Ending: Jul-2013
Jul-13 Basis Points Sale of
Point to Point 6.1% 70 15-Aug-13 WoW %
Annual Average Chang 8.3% 30 RSS 1 411.50 0.00%
1-Yr T-Bill 10.56% 181 Brown Crepe 1X 410.00 0.00%
YoY %
Change %
411.50
410.00
YoY %
7%
Elevation
-5.20%
6.91%
10.99%
08-Jul-13
392.57
794
1,549
13%
13%
8.00%
0.00%
0.00%
WoW %
15%
-25%
424.31
363.20
408.23
404.91
Local Economy
Elevation
Jun-13
INFLATION & INTEREST RATE
May-13
-755
Sale of
Sale of
30-Jul-13
Corres. 2012
383.46
446.96
430.11
Jun-13
6.8%
8.6%
12.37%
Sale of
08-Jun-13
411.50
410.00
-1,200
-800
-400
0
400
800
1,2001,600
2,000
Balance of Trade
Exports Imports Balance of Trade
20,000
40,000
60,000
80,000100,000
120,000
140,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Tourist Arrivals
2010 2011 2012 2013
2%
4%
6%
8%
10%
12%
14%
Jul-13May-13Mar-13Jan-13Nov-12Sep-12Jul-12
Inflation and Treasury Bill Rate
1-Yr T-Bill Point to Point Annual Average Change
Page | 6
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
7/12
EQUITY MARKET OUTLOOK
Global Markets
14,000
14,500
15,000
15,500
16,000
Index
Dow Jones Industrial Average
5,600
5,8006,000
6,200
6,400
6,600
6,800
Index FTSE 100 Index
1,500
1,550
1,600
1,650
1,700
1,750
Index S&P 500 Index
7,000
9,000
11,000
13,000
15,000
17,000Index Nikkei 225
2,300
2,400
2,500
2,600
2,700
2,800
2,900IndexEURO STOXX 50 Price EUR
18,000
19,000
20,000
21,000
22,000
23,000Index Hong Kong Hang Seng Index
Page | 7
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
8/12
WTI Crude USD/bbl 105.20 -2.0%
Gold USD/t oz. 1,375.10 1.0%Copper USd/lb. 335.20 -0.5%
Cotton USd/lb. 84.47 -8.6%
Wheat USd/bu. 642.25 -0.9%
GLOBAL COMMODITY TREND
92.45
648.25
CommodityThis
Week
Last
Week
WoW
Change
1,361.90336.85
Global Markets
107.39
85
90
95
100
105
110
USD/bbl
WTI CRUDE FUTURE
75
80
85
90
95
USd/lb. COTTON NO.2 FUTURE
1,0501,1001,1501,200
1,2501,3001,3501,4001,450
USD/t oz.
GOLD 100 OZ FUTURE
600
620
640
660
680
700
720
USd/bu. WHEAT FUTURE(CBT)
280
290
300
310
320
330
340
USd/lb.
COPPER FUTURE
Page | 8
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
9/12
Softlogic Equity ResearchPage | 9
Net earnings surged 603% YoY to LKR1.3 bn backed by strong GP margin growth of 630 bps YoY backed by the
bearish sentiment in crude oil prices which prevailed during 2013 amidst marginal revenue dip of 1.2% YoY. PBIT
margin expanded 650 bps YoY to 9.8% and net earnings margin grew 630 bps YoY to 7.3%.
Revenue dip of 1.2% YoY and 4% QoQ: The revenue dip is on a YoY and QoQ basis is primarily reasoned by a
slowdown in LIOCs bunkering segment due to less ship movements along the coast.
GP margin expanded 630 bps YoY and 560 bps QoQ to 13.1% : GP margin growth primarily stemmed from
improvements in procurement with the bearish trend of oil prices. This reflected an average YTD dip in crude oil
prices of 4% YoY to USD95.79 per barrel (Appendix 1). Amidst the decline, LIOC raised petrol price by LKR3.0 per
litre to LKR162.0 per litre w.e.f 23rd February 2013 and kept diesel prices at LKR121.0 per litre in line with CPC as it had earlier raised diesel by LKR6.0 per litre above the CPC price.LIOC currently sells petrol with a profit of c.LKR2.85 per litre and diesel at a loss of LKR2.5 per litre. The loss on diesel is outweighed by higher sales of petrol leading to GP margin
growth of 630 bps YoY and 560 bps QoQ to 13.1%.
Net earnings grew 603% YoY expanding margin to 7.3% from 1.0% in 1QFY13: PBIT margin expanded 650 bps YoY to 9.8% backed by a 10% dip in operating costs. Net financing
costs dipped 50% reflecting 32% YoY gain in finance income to LKR47 mn and 43% dip in finance costs to LKR252 mn as a result of dollar denominated borrowings leading to PBT
margin growth of 760 bps YoY to 8.7%. This resulted in strong net earnings growth of 603% YoY and 68% QoQ to LKR1.3 bn. Income tax paid increased on a YoY and QoQ basis as a
result of the expiration of the 10 year tax holiday granted by the BOI from February 2013 onwards and a concessional rate of 15% is now charged.
We expect LIOC to denote strong earnings growth in the upcoming quarters backed by the growth trajectory in its
key segments which is likely to further improve if oil prices continue on a bearish trend. LIOC is a beneficiary of the
Government policy of trimming CPC losses which enables them to bring prices in line with CPC. LIOC expects the
slowdown in its bunkering segment to be temporary while a change in strategy in this segment is likely to improve
performance in the coming quarters. A possible impact of forecasted oil price dip may improve earnings further. The
USA Energy Information Administration forecasts crude oil prices to dip by 0.9% YoY and 1.4% YoY on average for
2013E and 2014E respectively (Appendix 2). LIOC underscores its peers with a trailing PER of 3.7x while trading at book value at current price (Appendix 3) hence we rate it a
BUY.
LKR ('mn) 1QFY14 1QFY13 YoY % 4QFY13 QoQ %
Revenue 18,472 18,691 - 1. 2% 19,210 -3.8%
Gross Profit 2,413 1,270 90.0% 1,450 66.4%
Gross Margin 13.1% 6.8% 7.5%
PBIT 1,812 609 197.5% 791 129.1%
PBIT margin 9.8% 3.3% 4.1%
Net Profit 1,350 192 603.4% 806 67.5%
Net Profit Margin 7.3% 1.0% 4%
Quarterly Performance
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
10/12
Softlogic Equity ResearchPage | 10
Name Y/E Rec Mkt Price NAVPS P / BV DPS
23-Aug-13 M ar '12 M ar' 13 M ar '14E M ar '15E M ar '12 Mar' 13 M ar '14E M ar '15E M ar '12 M ar '13 M ar '14E M ar '14E M ar '12 M ar '13 M ar '14E M ar '15E M ar '13
( 'M n) ( 'M n) ( 'M n) Dec '11 Dec' 12 Dec '13E Dec '14E Dec '11 Dec '12 Dec' 13E Dec '14E Dec '11 Dec '12 Dec '13E Dec '13E Dec '11 Dec '12 Dec '13E Dec '14E Dec '12
Banking, Finance & Insurance
Ce nt ra l F in an ce CF IN .N 0000 M Buy 180. 10 16, 109 104.9 18, 889 153.59 1. 17 2,675 3, 041 3,4 37 3, 829 3, 057 25.51 2 9. 00 3 2.77 3 6. 51 29.14 46 14 13 11 7. 1 6.2 5. 5 4.9 6. 2 2. 9 1. 6 1 6. 6
Ceyl inco Insurance CINS.N0000 D 1,102.60 14,202 26.4 29,125 537.64 2.05 1,508 1,953 2,006 57.08 73.94 75.96 57 30 19.3 14.9 14.5 12.5 1.1 10.6
Co mm er ci a l B a nk CO MB .N 00 00 D Buy 117. 00 52, 962 848.7 99, 293 62.41 1. 87 8,048 10, 080 10,6 85 12, 591 9, 462 9.48 1 1. 88 1 2.59 1 4. 84 11.15 46 25 6 18 12.3 9.9 9. 3 7.9 10. 5 4. 5 3. 8 15. 2
Commercia l Bank [X] COMB.X0000 D Buy 93. 80 52, 962 848.7 79, 604 62.41 1. 50 8,048 10, 080 10,6 85 12, 591 10, 056 9.48 1 1. 88 1 2.59 1 4. 84 11.15 46 25 6 18 9. 9 7.9 7. 5 6.3 8. 4 4. 5 4. 8 1 5. 2
DFCC Ba nk DFCC.N0000 M MTB 128.00 28,139 265.1 33,933 106.14 1 .21 2 ,900 3 ,523 3 ,453 3 ,915 3 ,523 10.94 13.29 13.02 14.77 13.29 (43) 21 (2) 13 11.7 9 .6 9.8 8.7 9.6 5.0 3.9 10.3
Hatton National Bank HNB.N0000 D Buy 150. 00 51, 055 398.9 59, 833 127.99 1. 17 6,149 8, 111 9,2 58 11, 113 7, 815 15.42 2 0. 33 2 3.21 2 7. 86 19.59 28 32 14 20 9. 7 7.4 6. 5 5.4 7. 7 8. 5 5. 7 1 2. 0
Hatton National Bank [X] HNB.X0000 D Buy 114. 30 51, 055 398.9 45, 593 127.99 0. 89 6,149 8, 111 9,2 58 10, 908 8, 086 15.42 2 0. 33 2 3.21 2 7. 86 19.59 28 32 14 20 7. 4 5.6 4. 9 4.1 5. 8 8. 5 7. 4 1 2. 0
La nk a Ori x Le as in g Co mp an y LOLC.N0000 M 50.50 1 9,962 475.2 23,998 42.01 1.20 2,933 1,863 1,947 6.17 3.92 4.10 (24) (36) 8.2 12.9 12.3 0.5 1.0 14.7
LB Fi na nce LFIN.N0000 M Buy 104.20 5 ,329 69.3 7 ,217 76.94 1 .35 1 ,714 1 ,703 2 ,114 2 ,494 1 ,771 24.75 24.58 30.52 36.01 25.57 68 (1) 24 18 4.2 4.2 3.4 2.9 4.1 6.5 6.2 32.2
National Development Bank NDB.N0000 D Buy 153.10 22,926 164.7 25,215 139.21 1.10 2 ,706 8 ,854 3 ,533 4 ,286 8 ,660 16.43 53.76 21.45 26.03 52.58 26 227 (60) 21 9.3 2.8 7.1 5.9 2.9 15.0 9.8 11.8
N a ti o ns T ru s t B a nk N TB .N 00 00 D Buy 60.50 10,113 230.6 13,952 43.85 1.38 1,534 1,951 2,438 2,990 2,012 6.65 8.46 1 0.57 1 2.96 8.72 41 27 25 23 9.1 7.2 5.7 4.7 6.9 2.1 3.5 15.2
Pa n As ia B an k PAB C.N0000 D Buy 16.90 4,089 295.0 4,986 13.86 1.22 824 811 859 995 766 2.79 2.75 2.91 3.37 2.60 1 28 (2) 6 16 6.1 6.1 5.8 5.0 6.5 1.0 5.9 20.2
Pe op l e' s L ea s in g PLC.N 0000 M Buy 1 4. 20 1 9, 23 6 1, 57 9. 9 2 2, 43 4 12 .1 8 1. 17 4 ,5 42 3 ,0 73 3 ,0 15 3 ,5 90 3 ,0 45 2 .8 7 1 .9 5 1 .9 1 2 .2 7 1 .9 3 7 4 ( 32) ( 2) 19 4.9 7.3 7.4 6.2 7.4 1.3 8.8 23.6
S am pa th Ba nk S AMP.N0000 D Buy 189.00 27,959 167.8 31,706 166.66 1.13 4 ,151 5 ,212 4 ,089 5 ,339 4 ,773 24.74 31.07 24.37 31.83 28.45 19 26 (22) 31 7.6 6.1 7.8 5.9 6.6 6.0 3.2 14.8
Seyl an Ba nk SEYB.N0000 D 58.80 19,775 345.0 20,284 57.32 1.03 1 ,006 2,063 2,170 2.92 5.98 6.29 (17) 105 20.2 9.8 9.3 1.0 1.7 5.1
La n ka Ori x F in an ce LOF C.N 0000 M 3. 00 5, 424 2, 800.0 8, 400 1.94 1. 55 1,246 686 8 98 1 ,026 629 0.44 0. 25 0.32 0. 37 0.22 ( 0) ( 45) 31 14 6.7 12.2 9.4 8.2 13.4 - - 23.0
Sample Sector (16) 297,279 7,771.3 399,262 38.25 1.34 41,935 52,924 69,778 5.40 6.81 8.98 19 26 9.5 7.5 5.7 14.1
Full Sector (60) 541,910 1.47 8.2
Beverage, Food and Tobacco
Cargi l ls CARG.N0000 M 150.50 7,760 224.0 33,712 34.64 4.34 1,079 578 577 4.82 2.58 2.58 ( 1) ( 46) 31.2 58.4 58.4 2.0 1.3 13.9
Ce yl o n T ob ac co Co mp an y CT C. N0000 D 1,108. 20 3, 660 187.3 2 07, 592 19.54 56.72 6,569 8, 176 8,7 34 9, 545 8, 152 35.07 43. 65 46.63 50. 95 43.52 29 24 7 9 31.6 25. 4 23.8 21. 7 25. 5 43. 6 3. 9 179. 5
Di sti ll eri es DI ST.N0000 M LTB 192.00 49,381 300.0 57,600 164.60 1 .17 5 ,675 5 ,520 5 ,816 6 ,452 5 ,520 18.92 18.40 19.39 21.51 18.40 ( 30) ( 3) 5 11 10.1 10.4 9.9 8.9 10.4 3.0 1.6 11.5
Li o n B re we ry LI ON .N 0000 M 360. 00 5, 910 80.0 28, 800 73.88 4. 87 1,262 1, 046 1,1 46 1, 553 1, 046 15.78 13. 07 14.33 19. 41 13.08 25 (17) 10 35 22.8 27.5 25.1 18.5 27.5 4.0 1.1 21.4
N es tl e ( La nk a) N ES T. N0000 D 2,205. 20 3, 071 53.7 118, 475 57.17 38.58 2,633 2, 994 3,5 13 3 ,822 3, 446 49.01 5 5. 73 6 5.39 7 1. 14 64.15 39 14 17 9 45.0 39. 6 33.7 31. 0 34. 4 54. 0 2. 4 8 5. 7
Sample Sector (5) 69,783 845.0 446,180 82.58 6.39 17,219 18,313 18,742 20.38 21.67 22.18 0 6 25.9 24.4 23.8 24.7
Full Sector (20) 528,570 4.76 21.8
Chemicals & Pharmaceuticals
CIC Holdings CIC.N0000 M 58.40 7,760 94.8 5,535 81.88 0.71 863 231 239 9.11 2.44 2.52 ( 7) ( 73) 6.4 24.0 23.2 1.6 2.8 11.1
La nkem Ceyl on LCEY.N0000 M 126.20 4,459 24.0 3 ,029 185.81 0.68 513 297 307 21.39 12.36 12.80 (55) (42) 5.9 10.2 9.9 0.0 0.0 11.5
Sample Sector (2) 12,219 118.8 8,563 102.88 0.70 1,376 528 546 11.59 4.44 4.60 (33) (62) 6.2 16.2 15.7 11.3
Full Sector (10) 19,550 0.93 12.6
Construction & Engineering
Co lo mb o D ock ya rd D OCK.N0000 D 212.00 10,172 71.9 15,234 141.55 1.50 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.4 7.7 9.7 8.0 3.8 17.7
Sample Sector (1) 10,172 71.9 15,234 141.55 1.50 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.4 7.7 9.7 17.7
Full Sector (4) 19,322 1.31 5.1
Diversified Holdings
Ai tken Spence SPEN.N0000 M 121.00 28,053 406.0 49,126 69.10 1.75 3,488 3,267 3,267 8.59 8.05 8.05 38 (6) 14.1 15.0 15.0 1.5 1.2 12.4
CT Hol di ngs CTHR.N0000 M 140.00 13,219 183.1 25,634 72.20 1.94 1,159 1,150 1,150 6.33 6.28 6.28 34 (1) 22.1 22.3 22.3 0.7 0.5 8.8
Ca rs on s Cu mb erb atch CAR S.N0000 M 390.00 34,692 1 96.4 7 6,591 176.65 2.21 7,017 4,570 4,014 35.73 23.27 20.44 55 (35) 10.9 16.8 19.1 2.0 0.5 20.2
E xp o la n ka H ol d i ng s E XP O. N0 00 0 M LTB 7. 40 9, 081 1, 954.9 14, 466 4 .65 1. 59 1,033 1 ,061 1 ,3 02 1, 061 0 .53 0. 54 0.67 0.54 (33) 3 23 14.0 13.6 11.1 13.6 0.1 1.6 11.4
Hayleys HAYL.N0000 M 293.00 22,459 75.0 21,975 299.45 0.98 1,038 1,854 1,855 13.84 24.72 24.73 43 7 9 21.2 11.9 11.8 4.5 1.5 4.6
He mas Hol di ngs HHL.N0000 M 32.00 12,153 515.3 16,489 23.59 1.36 1,165 1,658 1,658 2.26 3.22 3.22 (4) 42 14.2 9.9 9.9 0.8 2.3 9.6
John Keel ls Holdings JKH.N0000 M 240.30 89,819 857.9 206,157 104.69 2.30 9,687 12,201 12,201 11.29 14.22 14.22 17 26 21.3 16.9 16.9 3.5 1.5 10.8
Ri chard Pe iri s RICH.N0000 M 6.90 7 ,949 1,958.1 13,511 4.06 1.70 2,575 1,903 1,903 1.32 0.97 0.97 53 (26) 5.2 7.1 7.1 0.2 2.9 32.4
Softlogic Holdings SHL.N0000 M 8.70 8,040 779.0 6 ,777 10.32 0.84 483 301 301 0.62 0.39 0.39 (42) (38) 14.0 22.5 22.5 0.3 3.4 6.0
Va ll ib el One VONE.N0000 M Buy 15. 90 27, 640 1, 086.6 17, 276 25.44 0. 63 2,025 1, 403 2,3 23 1, 403 1.86 1. 29 2.14 1.29 2 50 (31) 66 8.5 12.3 7.4 12.3 0 .0 0.0 7.3
Sample Sector (10) 253,107 8,012.2 448,002 31.59 1.77 29,669 29,367 28,812 3.70 3.67 3.60 30 (1) 15.1 15.3 15.5 11.7
Full Sector (18) 505,930 1.74 15.0
Healthcare
Asiri Hospita l Hold. ASIR.N0000 M 13.60 6,430 1,099.1 14,948 5.85 2.32 600 7 77 777 0.55 0.71 0.71 215 29 24.9 19.2 19.2 0.3 1.9 9.3
Nawaloka Hospita ls NHL.N0000 M 2.90 3 ,781 1,409.5 4,088 2.68 1.08 271 454 454 0.19 0.32 0.32 (75) 68 15.1 9.0 9.0 0.1 1.7 7.2
Lanka Hospitals LHCL.N0000 D 39.50 27,164 223.7 8,837 121.41 0.33 437 384 482 1.95 1.72 2.15 51 (12) 20.2 23.0 18.3 0.5 1.3 1.6
Sample Sector (3) 37,375 2,732.3 27,873 13.68 0.75 1,308 1,616 1,713 0.48 0.59 0.63 (16) 24 21.3 17.2 16.3 3.5
Full Sector (6) 43,318 1.97 11.9
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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Name Y/E Rec Mkt Price NAVPS P / BV DPS
23-Aug-13 M ar '1 2 M a r' 13 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3
( 'M n) ( 'M n) ( 'M n) D ec '1 1 D e c' 12 D e c' 13 E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 De c' 12 D ec '1 3E D ec '1 3E D ec '1 1 De c' 12 D ec '1 3E D ec '1 4E D ec '1 2
Hotels and Travels
Ai tken Sp. Ho. Hol d. AHUN.N0000 M 66.70 12,926 336.3 2 2,431 38.44 1.74 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.3 1 2.6 10.4 12.6 1.0 1.5 10.7
Amaya Le isure CONN.N0000 M 71.60 2,472 48.0 3,439 51.47 1.39 293 377 376 374 6.09 7 .84 7 .83 7.79 (38) 29 (0) 11.8 9 .1 9.1 9.2 4.0 5.6 11.8
As ia n Hotel s & Prop. AHPL.N0000 M 68.50 21,697 4 42.8 30,330 49.00 1.40 2,149 2,494 2,623 2,492 4.85 5.63 5.92 5.63 21 16 5 14.1 12.2 11.6 12.2 4.0 5.8 9.9
Keel l s Hote ls KHL.N0000 M 11.70 16,294 1,456.1 17,037 11.19 1.05 1,105 1,121 1,496 1,121 0.76 0 .77 1 .03 0.77 111 1 33 15.4 15.2 1 1.4 15.2 0.0 0.0 6.8
Taj TAJ.N0000 M 26.50 2,330 139.6 3 ,700 16.69 1.59 125 246 293 224 0.89 1.76 2.10 1.61 26 97 19 29.7 15.0 12.6 16.5 0.0 0.0 5.4
Tra ns As ia TRAN.N0000 M 82.40 6,054 2 00.0 16,480 30.27 2.72 625 1,066 1,180 1,066 3.12 5.33 5.90 5.33 (5) 71 11 26.4 15.5 14.0 15.5 3.0 3.6 10.3
Sample Sector (6) 61,773 2,622.9 93,417 23.55 1.51 5,674 7,086 8,116 6,059 2.16 2.70 3.09 2.31 24 25 15 16.5 13.2 11.5 15.4 9.2
Full Sector (36) 146,038 1.34 16.7
Land and Property
Col ombo La nd CLND.N0000 D 40.30 3,712 199.9 8,055 18.57 2.17 10 335 -90 12 48 0.05 1.68 (0.45) 0 .0 6 0 .2 4 (98) 3,393 (127) 113 839.9 24.0 N/A 671.3 166.3 0.0 0.0 0.3
O ve rs e as R ea l it y O SE A.N 00 00 D 1 7. 60 2 2, 43 7 8 43 .5 1 4, 84 5 2 6.6 0 0 .6 6 2 ,6 81 2 ,4 69 1 ,9 24 2 ,1 58 2 ,9 91 3 .1 8 2 .9 3 2 .2 8 2 .5 6 3 .5 5 21 8 ( 8) ( 22 ) 12 5.5 6.0 7.7 6.9 5.0 0.3 1.7 11.9
Sample Sector (2) 26,149 1,043.4 2 2,901 25.06 0.88 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 8.5 8 .2 12.5 10.6 7.5 1.1 10.3Full Sector (18) 39,750 0.86 9.2
Manufacturing
ACL Cables ACL.N0000 M 65.30 5,718 59.9 3,911 95.47 0.68 485 532 543 8.10 8.88 9.06 127 10 8.1 7.4 7.2 1.0 1.5 8.5
Gra in El eva tors GRAN.N0000 D 38.40 2,684 60.0 2,304 44.74 0.86 388 135 87 93 150 6 .46 2.24 1.45 1.55 2.49 ( 18 ) ( 65 ) ( 35 ) 7 5.9 17.1 26.5 24.8 15.4 0.1 0.4 14.4
C he vr on L ub ri ca n ts L LU B .N 00 00 D Hold 300.00 4, 536 120.0 36, 000 37.80 7.94 2,001 2, 288 2,5 26 2, 621 2, 396 16.67 1 9.06 2 1.05 2 1.84 19.97 33 14 10 4 18.0 15.7 14.3 13.7 15.0 11.0 3.7 44.1
La nka Wa ll ti le LWL.N0000 M LTB 58.90 4, 618 54.6 3, 216 84.57 0.70 73 1 520 5 45 600 520 13.39 9.52 9.98 1 0.99 9.52 51 (29) 5 10 4.4 6.2 5.9 5.4 6.2 3.0 5.1 15.8
Pi ra ma l Gl as s GLAS.N0000 M LTB 5.60 3,629 950.1 5,320 3.82 1.47 686 724 761 813 732 0.72 0.76 0.80 0.86 0.77 19 5 5 7 7.8 7.3 7.0 6.5 7.3 0.4 6.8 18.9
Ro ya l Ce ra mi c RCL.N0000 M LTB 8 8. 10 8 ,4 01 1 10 .8 9 ,7 61 7 5. 83 1 .1 6 1 ,2 43 1 ,6 70 1 ,8 44 2 ,1 90 1 ,7 52 1 1. 22 1 5. 07 1 6. 64 1 9. 77 1 5. 81 (14) 34 10 19 7.9 5.8 5.3 4.5 5.6 2.0 2.3 14.8
Te xtu re d Je rs ey TJL.N 0000 M Buy 1 3. 60 5 ,7 32 6 55 .0 8 ,9 08 8 .7 5 1 .5 5 6 28 1 ,0 17 1 ,1 86 1 ,4 83 1 ,0 17 0 .9 6 1 .5 5 1 .8 1 2 .2 6 1 .5 5 (8) 62 17 25 14.2 8.8 7.5 6.0 8.8 1.2 9.1 11.0
Tokyo Cement TKYO.N0000 M 24.80 6,722 334.1 8 ,286 20.12 1.23 979 828 828 2.93 2.48 2.48 14 (15) 8.5 10.0 10.0 1.0 4.0 14.6
Sample Sector (8) 42,040 2,344.5 77,706 17.93 1.85 7,141 7,713 7,937 3.05 3.29 3.39 15 8 10.9 10.1 9.8 4.2 17.0
Full Sector (36) 106,414 1.42 8.6
Motors
Colonial Motors COLO.N0000 M 95.10 3 ,813 15.2 1,446 250.88 0.38 453 120 22 29.80 7.91 1.47 95 (73) 3.2 12.0 64.8 3.0 3.2 11.9
D ie se l & Mo tor En gi ne eri ng D IMO.N0000 M 483.00 7,631 8.9 4,287 859.71 0.56 2,702 462 462 304.36 52.06 52.05 2 7 (83) 1.6 9.3 9.3 10.0 2.1 35.4
Uni ted Motors UML.N0000 M 108.00 7,371 67.3 7,265 109.57 0.99 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.2 3.6 3.6 10.0 9.3 31.0
Sample Sector (3) 18,815 91.3 12,998 205.98 0.69 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.4 5.0 5.2 6.2 28.9
Full Sector (6) 22,193 0.99 6.6
Oil Palms
Buki t Da ra h BUKI.N0000 M 683.80 31,845 102.0 69,748 312.21 2.19 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 13.8 15.8 3.0 0.4 22.9
Sample Sector (1) 31,845 102.0 69,748 312.21 2.19 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 13.8 15.8 3.0 0.4 22.9
Full Sector (5) 101,239 1.84 19.8
Plantations
Ba la ngoda BALA.N0000 D 28.20 2,638 23.6 667 111.60 0.25 25 118 62 1.08 5.01 2.64 (85) 366 26.2 5.6 10.7 1.0 1.0
Horana HOPL.N0000 M 22.30 1,489 25.0 558 59.57 0.37 87 220 201 3.49 8.82 8.04 (73) 152 6.4 2.5 2.8 2.0 5.9
Kegal le KGAL.N0000 M 96.10 3,349 25.0 2,403 133.97 0.72 769 544 542 30.77 21.74 21.70 ( 8) ( 29 ) 3.1 4.4 4.4 1 2.0 12.5 23.0
Kelani Val ley KVAL.N0000 D 82.00 2,515 34.0 2,788 73.98 1.11 460 584 650 13.54 17.19 19.12 44 27 6.1 4.8 4.3 6.0 7.3 18.3
Kotaga la KOTA.N0000 M 42.10 3,426 40.0 1,684 85.64 0.49 439 517 378 10.97 12.92 9.44 (34) 18 3.8 3.3 4.5 2.5 5.9 12.8
Wata wa la WATA.N0000 M 10.70 3,843 236.7 2,532 16.24 0.66 455 680 755 1.92 2.87 3.19 (29) 49 5.6 3.7 3.4 0.8 11.8
Sample Sector (6) 17,261 384.3 10,631 44.91 0.62 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.8 4.0 4.1 13.0
Full Sector (18) 22,768 0.65 4.0
Power and Energy
La nka IOC LIOC.N0000 M 27.00 13,028 532.5 14,378 24.46 1.10 906 2,911 2,911 1.70 5.47 5.47 3 221 15.9 4.9 4.9 0.0 7.0
Va l l ibel VPEL.N0000 M 6.10 1,823 747.1 4,557 2.44 2.50 249 289 301 0.33 0.39 0.40 (41) 16 18.3 15.8 15.1 0.3 4.1 13.6
La ugfs Ga s LGL.N0000 M 27.20 6,488 387.0 10,526 16.76 1.62 822 1,061 1,021 2.13 2.74 2.64 (4) 29 12.8 9.9 10.3 1.5 5.5 12.7
Sample Sector (3) 21,339 1,666.6 29,462 12.80 1.38 1,977 4,261 4,234 1.19 2.56 2.54 (8) 116 14.9 6.9 7.0 9.3
Full Sector (8) 34,957 1.27 7.5
Telecommunications
Dia log Axiata DIAL.N0000 D 8.50 38,776 8,143.8 69,222 4.76 1.79 5,354 6,521 7,569 8,156 0.66 0.80 0.93 1.00 6 22 16 12.9 10.6 9.1 8.5 0.3 3.9 13.8
Sri La nka Te lecom SLTL.N0000 D 39.40 56,136 1,804.9 71,111 31.10 1.27 4,781 5,329 5,912 4,976 2.65 2.95 3.28 2.76 21 11 11 14.9 13.3 12.0 14.3 0.9 2.2 8.5
Sample Sector (2) 94,912 9,948.6 140,334 9.54 1.48 10,135 11,850 13,481 13,132 1.02 1.19 1.36 1.32 13 17 14 13.8 11.8 10.4 10.7 10.7
Full Sector (2) 144,850 1.53 11.0
Trading
Browns BRWN.N0000 M 98.50 14,696 7 0.9 6,981 207.36 0.48 1,164 2 40 240 16.43 3.39 3.39 ( 47 ) ( 79 ) 6.0 29.1 29.1 1.3 1.3 7.9
S in ge r S ri La nk a S IN S.N 0000 D 94.60 4, 681 125.2 11, 845 37.39 2.53 1,266 1,138 985 10.11 9.09 7.87 90 (10) 9.4 10.4 12.0 6.0 6.3 27.1
Sample Sector (2) 19,378 196.1 18,826 98.82 0.97 2,431 1,378 1,225 12.40 7.03 6.25 ( 15 ) ( 43 ) 7.7 13.7 15.4 12.5
Full Sector (8) 24,870 1.07 18.7
Sample Market (70) 1,013,448 37,951.3 1,821,136 26.70 1.80 138,331 150,117 169,632 195,077 166,270 3.64 3.96 4.47 5.14 4.38 1 7 9 13 15 13.2 1 2.1 10.7 9.3 11.0 13.6
Total Market (283) 2,361,259 1.71 12.2
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)
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Softlogic Equity ResearchPage | 12
Softlogic Equity Research
Dimantha Mathew
dimantha.mathew@equity.softlogic.lk
+94 11 7277030
Kavindu Ranasinghe
kavindu.ranasinghe@equity.softlogic.lk
+94 11 7277031
Imalka Hettiarachchi
imalka.hettiarachchi@equity.softlogic.lk
+94 11 7277032
Softlogic Equity Sales
Dihan Dedigama
dihan.dedigama@equity.softlogic.lk
+94 11 7277010, +94 77 7689933
Sonali Abayasekera
sonali.abayasekera@equity.softlogic.lk
+94 11 7277051, +94 77 7736059
Eardley Kern
l.kern@equity.softlogic.lk
+94 11 7277053, +94 77 7348018
Thanuja De Silva
thanuja.desilva@equity.softlogic.lk
+94 11 7277059, +94 77 3120018
Chandima Kariyawasam
chandima.kariyawasam@equity.softlogic.lk
+94 11 7277058, +94 77 7885778
Branches
HoranaMadushanka Rathnayaka
No. 212, 1st floor, Panadura road, Horana
madushanka.rathnayaka@equity.softlogic.lk
+94 34 7451000, +94 77 3566465
MataraNo. 8A, 2nd Floor, FN Building,
Station Road, Matara
+94 41 7451000,
NegamboKrishan Williams
No. 121, St. Joseph Street Negambo
krishan.williams@equity.softlogic.lk
+94 31 2224714-5, +94 77 3569827
KurunegalaBandula Lansakara
No.13, Rajapihilla Mawatha, Kurunegala
bandula.lansakara@equity.softlogic.lk
+94 37 2232875, +94 77 3615790
The report has been prepared by Softl ogic Stockbrokers (Pvt) Ltd. The inf ormati on and opinion s contain ed herein has been compil ed
or ar ri ved at based upon inf ormati on obtained fr om sources believed to be reliable and in good faith . Such inf ormati on has not been
independently verif ied and no guaranty, representation or warr anty, express or impli ed is made as to its accuracy, completeness or
correctness. Al l such i nformation and opinions are subject to change without notice. This document i s for information purposes only,
descri ptions of any company or companies or their securit ies menti oned herein are not int ended to be complete and this document is
not, and should not be construed as, an offer, or solicitat ion of an off er, to buy or sell any securi ties or other financi al instr uments.
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securi ties or other fi nancial i nstruments fr om time to time in the open market or otherwise, in each case either as pri ncipal or agent.
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issuers described here in or i n securiti es underl ying or related to such securi ties. Softl ogic Stockbrokers (Pvt) L td may have recently
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