• Net Revenue for Q3 FY 12 increased 6.4% YoY to LKR 831mn, Export sales dropped 45% YoY and Local sales grew 9.7% (Q3 FY 11 – LKR 780mn)
• GP margin at 35% (Q3 FY 11 – 37%)
• Net Profit recorded at LKR 140mn (Q3 FY 11-LKR 140mn)
• Net profit for 9 months declined from LKR 354mn to LKR 284mn, due to partially shutting down of factory in May for expansions, technical defects in the new kiln and labour unrest in two occasions
• Forward PER 10.08x (EPS for FY 2012E- LKR 7.36)
• PBV 1.5x (NAV per share LKR 47.09)
• Manufacturing sector multiples – PER 14.1x , PBV 2.0x
DFCC BANK – DFCC
• 3M FY 2012E – net profit LKR 2.2bn, up 43% YoY
• Rise in bottom line mainly attributable to rise in other income and fall in taxes
• Avg monthly loan disbursements – ~ LKR 2.5bn
• Loan book has grown ~ LKR 22bn during the first 9 months
• Rise in loan book funded by both deposits ~ LKR 10bn, borrowings ~ LKR 10bn
• Gross NPLs have fallen to to 4.4% by December 2011 from 6.6% in June 2011
• PER (based on LKR 10.81 annualized earnings) – 9.5x
• PBV – 1.1x (NAVS LKR 94.49)
SERENDIB HOTELS PLC -SHOT
• Q3 FY 12 revenue down 7% to LKR 229.9mn
• Gross profit down 6% to LKR 172.0mn
• Other operating income LKR 28.7mn
• Net profit up 105% to LKR 32.4mn
• PER– 15x (Forward EPS FY 12E – LKR 1.50)
• NAV per share – LKR 12.78
• PBV - 1.72x
• Sector PER- 24.1x
• Sector PBV- 1.6x
DOLPHIN HOTELS PLC
• Q3 FY 12 revenue up 23% YoY to LKR 148.3
• Gross profit up 24% YoY to LKR 109.5mn
• Other income and gains up 2124% YoY to LKR 15.7mn
• PBT up 3409% YoY to LKR 33.5mn
• PAT up 526% YoY to LKR 28.6mn
• PER- 52.6x (Forward EPS FY 12E –LKR 0.65)
• NAV per share – LKR 23.45
• PBV – 1.5x
• Sector PER- 24.1x
Hemas Holdings PLC- HHL
• Q3 FY 12 revenue up 15.2% to LKR 5.26bn
• Gross profit up 12.0% to LKR 1.69bn
• Profit before tax up 19.8% to LKR 454.51mn
• Profit attributable to shareholders up 12.6% to LKR 350.5mn
• Profit attributable to shareholders for 9 months down by 6.9% to LKR 836.98mn
• PER– 12.4x (based on ttm EPS – LKR 2.17)
• PER based on BRS forecast- 13.64x (based on forecast EPS of LKR 1.98)
• NAV per share – LKR 18.52
Compiled by Bartleet Religare Securities
http://www.news360.lk/business-finance/corporate-earnings-3112