History of the Company
TFIL was formed by J.L.Morrison & sons in 1978 and later taken over by Cooray family of Jetwin in 1995. TFI was listed in CSE on September 2011 as an introduction. A share was valued @ 20.00.
TFIL operates only 4 branches(Colombo,Jaffna.Kilinochchi.Bati) in the country and studying the feasibility of opening up 2 new branches.
TFIL has recorded a profit of 71M for the 6 months periods ending 30.09.2012 which is an increse by 38% compared to 30.09.2011. EPS has been 1.25 up by 30%. Total revenue is up by 46% from 94M to 137M.PBT up by 38% from 57M to 79M.The segmental contribution as follows.
Finance Lease Hire Purcg & Other Loan Investment
Total Revenue 33% UP 105%UP 12%UP
PBT 26% UP 94%UP 6%UP
Deposits in banks & finance companies has gone up by 65% from 185M to 654M.Investment in government securities has up by 20% from 36M to 43M.Deposits from customers is up by 51% from 304M to 460M. During the period TFIL has reached the 1B mark in assets.
Share Price & Qty
During the period 31.03.2011 - 30.09.2012
Highest 18.30 (26.09.2012)
Lowest 8.30 (29.05.2012)
Issued Qty 56,800,400
Dividend .65 per share
Out of the above shares Cooray family holds 35,541,760 which is 62.57%. There's no much shake in the top 20 list other than one foreigner trimming his stake for the last 6 months.
TFIL is not a aggressive kind of company compared to other entities in the sector. But I think it has something to offer for people like us. To be frank, it was unnoticed to me till one of our forum members highlighted last week. Currently I hold no shares of this but expect to enter at a good price.
This is no buy/sell recommendation by any mean. Just trying to start a good discussion.
Source : Annual Report 2011/2012 & Financials as at 30.09.2012