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TILE & RCL

4 posters

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1TILE & RCL Empty TILE & RCL Mon Mar 11, 2013 1:45 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics

RCL is the leading TILE manufacturer, they have got good deal with GOSL with lobbying for tax benefits.

TILE have had issues in the past. However, the improvement in TILE is noteworthy. I use to buy from RCL, they have a good range.

But I went to Tile showroom recently to buy some small stuff and found they have increased their , range of products & service standard. In fact they offer much wider range of other products other than tiles, which is like a monopoly. ( Tile motor, grout, stones, tile gums, new method for tile fixing..etc)

This seems the case with bottom line as well. Now ,trade below PER of 10. You may check quarterly accounts
http://www.cse.lk/cmt/upload_report_file/677_1360933740503.pdf

2TILE & RCL Empty Re: TILE & RCL Tue Mar 12, 2013 5:48 pm

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics

RCL is way ahead compared to Lanka Tiles. About these other products, what you are saying is true. But the revenue from these products is marginal, may be maximum 10%.
Floor tile is the product. RCL is way ahead, because,
# their production capacity, and production output is much higher
# it is generally accepted in the market , that RCL products are superior in quality compared to Lanka Tiles
#production ,marketing, sales,functions of RCL are better organized
# Lanka Tiles belongs to Lanka Walltiles,/ Ceylon Ceramics/ Ceylon Theater Group. So, not much attention from major share holders.
#RCL has the attention of major shareholder,Only problem they are trying to use funds of the company for share investments ,which will be a major impediment for growth of the core business
If you compare the two stocks, still the choice would be RCL.
But, I agree ,even RCL stock price has not performed to the expectations of an average investor. This applies to most of the good companies in manufacturing sector ,compared to BFI, BFT, DIV sectors.
An issue which needs attention and discussion.



3TILE & RCL Empty Re: TILE & RCL Tue Mar 12, 2013 5:52 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

If you consider the history , LWL is trading at low values. Also on NAV. But TILE is out performing LWL these days.

RCL also has the benefit of having 25% of LFIN under the belt.




knockknobbler wrote:RCL is way ahead compared to Lanka Tiles. About these other products, what you are saying is true. But the revenue from these products is marginal, may be maximum 10%.
Floor tile is the product. RCL is way ahead, because,
# their production capacity, and production output is much higher
# it is generally accepted in the market , that RCL products are superior in quality compared to Lanka Tiles
#production ,marketing, sales,functions of RCL are better organized
# Lanka Tiles belongs to Lanka Walltiles,/ Ceylon Ceramics/ Ceylon Theater Group. So, not much attention from major share holders.
#RCL has the attention of major shareholder,Only problem they are trying to use funds of the company for share investments ,which will be a major impediment for growth of the core business
If you compare the two stocks, still the choice would be RCL.
But, I agree ,even RCL stock price has not performed to the expectations of an average investor. This applies to most of the good companies in manufacturing sector ,compared to BFI, BFT, DIV sectors.
An issue which needs attention and discussion.



4TILE & RCL Empty Re: TILE & RCL Tue Mar 12, 2013 6:01 pm

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

LWL trading at steep discount to its NAV

5TILE & RCL Empty Re: TILE & RCL Wed Mar 13, 2013 7:48 am

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics

Actually , majority of TILE is held by LWL, which in turn is held by Lanka Ceramics / Ceylon Theater group. so there is not much significance in comparing TILE and LWL. It's a worthwhile effort to compare the financial performance / share price movement of LWL group and RCL , since they are the only players/ competitors(as manufacturers) in this industry.

My observation is share price movement of both companies have not matched with their past performance and future growth prospects.

6TILE & RCL Empty Re: TILE & RCL Wed Mar 13, 2013 7:52 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

If one studies the history and performance ( both share price and earnings) of these companies one will see which are the ones discounted a lot.





knockknobbler wrote:Actually , majority of TILE is held by LWL, which in turn is held by Lanka Ceramics / Ceylon Theater group. so there is not much significance in comparing TILE and LWL. It's a worthwhile effort to compare the financial performance / share price movement of LWL group and RCL , since they are the only players/ competitors(as manufacturers) in this industry.

My observation is share price movement of both companies have not matched with their past performance and future growth prospects.

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