A few points:
* 3Q11 net profit of Rs76 mn - based on 145 mn shares, 3Q11 EPS = Rs0.5
- YoY EPS growth is misleading as land sale boosted FY10 profits
- December quarter is usually best for retailers; assuming possibly optimistic forward annual EPS of Rs2, forward PER at Rs45 is over 20x - no sale there !
* Debt has increased sharply recently, with usage of IPO proceeds to acquire land in Battaramulla, and steep increase in inventories
* Phoenix Ventures and De Soysa family who got shares in private placement before IPO at Rs15, seem to have exited
ODEL released its results at around 1 pm on 31st Jan 2011. The CSE should really not permit companies to release corporate results during trading, as the news may be material to investors. Else they should suspend share from trading in the event of results being released during trading hours.