Take it to consideration the mandatory offer was made at 41 something by D perera and already expired...So sometimes values may be too optimistic, nevertheless its D perera's company and those are high flying these days.. Even PABC may have a momentum gain soon..
31-03-2011 - 8.64 Mn
31-12-2010 - 7.2 Mn (Public Holding - 20.76%)
30-09-2010 - 12.2 Mn (Public Holding - 24.37%, Alchemy Heavy Metals sold out stake to D Perera 25.54%)
30-06-2010 - (7.43) Mn (Public Holding - 24.0%, D Perera 25.92%, PABC - 0.33%)
I assume a qtr growth of 20% alone on profits due to favorable outlook on the industry though it could get hammered by competition;
Anticipated total yearly profits (wit 4qtr Profits) = -7.43+12.2+7.2+8.64 = 20.61
No of Shares - 13.7Mn
EPS = 1.504
Manufacturing sector PE = 24.70;
Fair Share Valuation (30% discount to Sector PE) = EPS 1.504x PER 17.29 = Rs. 26/- level.
Share Price at the time of analysis = 55.9
Current Share price = 61
So this doesn't look so nice at all.. For your further analysis and inputs pls..
Anu - Thanks for pointing out the mistakes...I've taken the wrong figures earlier and it looked so bullish earlier, would've been a wrong assumption.. Thanks again..
Last edited by smallville on Thu Mar 24, 2011 10:21 am; edited 3 times in total (Reason for editing : Anu pointed out some errors in figures, just checked and amended accordingly.)