Analysis on CTLD

worthiness · 1 Analysis on CTLD Mon Dec 03, 2012 1:58 pm

worthiness

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Is someone following the operational activities & its performance of CTLD?

I have seen an article in the past stating that this share is undervalued.
If someone has a in-depth analysis of this company please send your comments.

Thanks

Antonym · 2 Re: Analysis on CTLD Mon Dec 03, 2012 3:49 pm

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CTLD is trading at Rs 22.70, close to its lower Bollinger band.
Net Assets per share is Rs 49.62... which means it is trading at a 54% discount to NAPS.

PE Ratio is around 7X.

With annual dividend of Rs 1.40, the yield is 6.2%.

But CTLD has negative cash balance (of Rs 48 million), and I am avoiding shares with negative cash balances.

D.G.Dayaratne · 3 Re: Analysis on CTLD Mon Dec 03, 2012 4:23 pm

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Cash balance is also improving 2011 It was -54 Million

Main problem is no rational behavior.Very few "economic Men" in SL Stock Market.Specially among retail Investors

worthiness · 4 Re: Analysis on CTLD Mon Dec 03, 2012 7:09 pm

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Thanks for Antonym & DGD for the comments.

My preference too is cash flow statement observing the cash flow generation from operation. As I observed in this forum, very few members talk of cash flow significance.

Any idea of industry PE.?..It seems CTLD is substantially undervalued.
Antonym, I may go for this share seeking a mid term return. What do u think?

Antonym · 5 Re: Analysis on CTLD Tue Dec 04, 2012 7:45 am

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@worthiness: Good pick. As per Bloomberg, Current P/E Ratio (ttm) is 4.24X.

CTLD share price has been declining since October, and is close to its 52-week Low (Rs 21.60).
My advice would be: Start buying - but keep an eye on the trend.

Jiggysaurus · 6 Re: Analysis on CTLD Tue Dec 04, 2012 10:34 am

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@Antonym wrote:@worthiness: Good pick. As per Bloomberg, Current P/E Ratio (ttm) is 4.24X.

CTLD share price has been declining since October, and is close to its 52-week Low (Rs 21.60).
My advice would be: Start buying - but keep an eye on the trend.

That PE of 4 i think includes the asset revaluation that happens at the end of the year. The NAV is irrelevant for CTLD because the Page's would never sell the property so minority investors should focus on the EPS purely from rentals (which is still very good and works out to about a PE of 7)

The other issue is that the big owning shareholders can "steal" cash from these cash rich companies without the minority shareholders getting anything. In CTLD's case 115 million was taken and "invested" in CT properties (which badly needed the money when the RE market was stagnant). Upto now minority shareholders have not gotten any return from this 115 million investment.

cse.alpha · 7 Re: Analysis on CTLD Tue Dec 04, 2012 12:01 pm

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Some good analysis on CTLD in this discussion

CTLD fy12 net profit was Rs226 m, of which Rs82 m was fair value gains on investment property

Stripping out this non-cash item, 'normalized cash' fyY12 profit was Rs144 m and normalized fy12 EPS was Rs3

6mths profit for fy13 is Rs80 m, giving annualized EPS of Rs3.3 - leading to annualized PER of 6.7x at Rs22

Rental income will give steady returns, while new cinemas can provide bit of a boost

Shareholder list shows Ceybank Unit Trust has been supporting share in market past year

Together with its dividend, this is one of better stocks in property sector, but there may be better stocks in other sectors

worthiness · 8 Re: Analysis on CTLD Tue Dec 04, 2012 12:29 pm

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Very informative & conducive discussions for those who are interested in knowing in-depth facts of listed companies.
Thanks to everyone again.

Slstock · 9 Re: Analysis on CTLD Tue Dec 04, 2012 12:49 pm

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Yes, very good discussion. Note that even during past big runs CTLD for some reason did not get pushed much. Also note that most of the property sector is trading below NAV. I am not saying this is not attractive but like CSE,Alpha said "Together with its dividend, this is one of better stocks in property sector, but there may be better stocks in other sector"

Jana1 · 10 Re: Analysis on CTLD Wed Dec 05, 2012 4:53 am

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Make sense....I too have few thousands. Even the its broker company doesnt not recommend.... Smile

@slstock wrote:Yes, very good discussion. Note that even during past big runs CTLD for some reason did not get pushed much. Also note that most of the property sector is trading below NAV. I am not saying this is not attractive but like CSE,Alpha said "Together with its dividend, this is one of better stocks in property sector, but there may be better stocks in other sector"

Antonym · 11 Re: Analysis on CTLD Thu May 30, 2013 10:29 am

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@Jiggysaurus wrote:

@Antonym wrote:@worthiness: Good pick. As per Bloomberg, Current P/E Ratio (ttm) is 4.24X.

CTLD share price has been declining since October, and is close to its 52-week Low (Rs 21.60).
My advice would be: Start buying - but keep an eye on the trend.

That PE of 4 i think includes the asset revaluation that happens at the end of the year. The NAV is irrelevant for CTLD because the Page's would never sell the property so minority investors should focus on the EPS purely from rentals (which is still very good and works out to about a PE of 7)

The other issue is that the big owning shareholders can "steal" cash from these cash rich companies without the minority shareholders getting anything. In CTLD's case 115 million was taken and "invested" in CT properties (which badly needed the money when the RE market was stagnant). Upto now minority shareholders have not gotten any return from this 115 million investment.

One of my babies (CTLD) is flying today; it's already up 47.7% since this post, less than 6 months ago!
How much higher, I wonder...

malanp · 12 Re: Analysis on CTLD Thu May 30, 2013 10:40 am

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CTLD is one of few gems left in the market.

I wanted to buy but at that time no sufficient quantity.

salt · 13 Re: Analysis on CTLD Thu May 30, 2013 10:40 am

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it has value

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Analysis on CTLD

1 Analysis on CTLD Mon Dec 03, 2012 1:58 pm

worthiness

2 Re: Analysis on CTLD Mon Dec 03, 2012 3:49 pm

Antonym

3 Re: Analysis on CTLD Mon Dec 03, 2012 4:23 pm

D.G.Dayaratne

4 Re: Analysis on CTLD Mon Dec 03, 2012 7:09 pm

worthiness

5 Re: Analysis on CTLD Tue Dec 04, 2012 7:45 am

Antonym

6 Re: Analysis on CTLD Tue Dec 04, 2012 10:34 am

Jiggysaurus

7 Re: Analysis on CTLD Tue Dec 04, 2012 12:01 pm

cse.alpha

8 Re: Analysis on CTLD Tue Dec 04, 2012 12:29 pm

worthiness

9 Re: Analysis on CTLD Tue Dec 04, 2012 12:49 pm

Slstock

10 Re: Analysis on CTLD Wed Dec 05, 2012 4:53 am

Jana1

11 Re: Analysis on CTLD Thu May 30, 2013 10:29 am

Antonym

12 Re: Analysis on CTLD Thu May 30, 2013 10:40 am

malanp

13 Re: Analysis on CTLD Thu May 30, 2013 10:40 am

salt

14 Re: Analysis on CTLD

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