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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Chevron Lubricants Lanka PLC (LLUB) recommendation

Chevron Lubricants Lanka PLC (LLUB) recommendation

+2
smallville
CSE.SAS
6 posters

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator

Chevron Lubricants Lanka PLC (LLUB) recommendation Llub10

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Pls post the source.. At least give the person who did this some credit pls...

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics

CSE.SAS wrote:Chevron Lubricants Lanka PLC (LLUB) recommendation Llub10

He is continuously posting these without any sauces

Pls check his post regarding MASK, RICH Evil or Very Mad

CSE.SAS

CSE.SAS
Global Moderator

smallville wrote:Pls post the source.. At least give the person who did this some credit pls...

Source:-Lanka Securities Research

CSE.SAS

CSE.SAS
Global Moderator

bakapandithaya wrote:
CSE.SAS wrote:Chevron Lubricants Lanka PLC (LLUB) recommendation Llub10

He is continuously posting these without any sauces

Pls check his post regarding MASK, RICH Evil or Very Mad

Mr.bakapandithaya which sauces your looking for?


Source:-Lanka Securities Research

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

CSE.SAS wrote:
smallville wrote:Pls post the source.. At least give the person who did this some credit pls...

Source:-Lanka Securities Research

Thanks.. Pls mention the source after the post content is finished... Make this a habit too Wink

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics

This brokers like parrots... just write what they hear.
I too thought they will cut dividend. But, deeper analysis would show that they have cut dividend for last two years to build enough cash reserves to fund capex. Hence, LLUB will maintain dividend. (11 per share*120 mn shares= Rs1,320 mn dividend for 2013 can be easily met). They might pay (Rs. 1-2 )special dividend towards the year end 2013 if there is a real growth of earnings while the capex could finish on target of Rs. 1,650 mn .

Historical dividends RS.mn & payout ratio
2009- 1,440 (93%)
2010 -1,470 (98%)
2011 -1,080 (54%)
2012 -1,320 (58%)

skipper


Stock Analytic
Stock Analytic

salt wrote:This brokers like parrots... just write what they hear.
I too thought they will cut dividend. But, deeper analysis would show that they have cut dividend for last two years to build enough cash reserves to fund capex. Hence, LLUB will maintain dividend. (11 per share*120 mn shares= Rs1,320 mn dividend for 2013 can be easily met). They might pay (Rs. 1-2 )special dividend towards the year end 2013 if there is a real growth of earnings while the capex could finish on target of Rs. 1,650 mn .

Historical dividends RS.mn & payout ratio
2009- 1,440 (93%)
2010 -1,470 (98%)
2011 -1,080 (54%)
2012 -1,320 (58%)

There are few things that I like to highlight.
A. Are they gonna use the existing equipment? if so, they have to close the plant for some time eh?
B. Mr. K Gomes has mentioned that 2013 gonna be a tough year. Considering the last two quarters, that must be true. chevron managed to make good profits in first half because dealers were piling stocks ahead of the fuel price increase.
C. Project costs are never gonna stay in the estimated limit eh? even if you are brilliant in your analysis, there can be variations. (hope it is positive variations for chevron)
D. If I'm an MD and I'm building a new plant I like to have cash in my hand. There are so much of things that can go wrong. Keeping cash until its done seems to be a good approach, as long as shareholders are aware of what's a happening. Anyway Kishu is a rare and brilliant MD so he might go ahead with dividends and all. Smile

I am a shareholder of chevron and as far as I'm concerned there seems to be risk of low dividend this year. Anyway i'm willing to take that risk b'coz at the end of the day it is for the future benefit of the company!! Smile unlike some rights issue which just say they want cash to fund working capital !!!

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Prices can go up depending on how the potential buyers look at this stock. I may sound bit biase because i am holding LLUB.
IMO i am looking at this one more bullisher to hit around 300 minimum in months to come....

Firstly :Traders & Investors tend to buy it as defensive stock along with CTC and NEST and couple other stocks.

Secondly due to regular dividends through out the year.

Finally due to rich cash reserves they got to off set cap-ex requirements that would eventually bring down the costs in the long run.
So its worth the risk to hold LLUB. Very Happy

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