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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Missed the bus – CFVF?

Missed the bus – CFVF?

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21Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 12:46 pm

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Let your profits grow and cut your losses early.

But most cut their profits early and let the losses to grow Very Happy

22Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 1:03 pm

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
[quote="hariesha"]
@The Alchemist wrote:@ chinwi
On page 7 of the interim statement, it is as folls -

7. There have been no material events subsequent to the balance sheet date which require disclosures/ adjustments in the interim financial statements other than those disclosed below.

7.1. In May 2013 an entity controlled by First Capital Holdings PLC acquired 100% of DNH Financials (Private) Limited, a stock broking company at a cost of Rs. 185 Mn. The effective shareholding of First Capital Holdings PLC is 70% of DNH Financials (Private) Limited.

7.2. First Capital Treasuries Limited, A subsidiary of First Capital Holdings PLC declared an interim dividend of Rs. 19/- per share totaling Rs. 292.4 Mn for the financial year 2013/14.

Can you please clarrify whether note 7.2, the dividend of Rs 292.4 Million should be taken as included in consolidated profits as at 31st March 2013 or it will appear as new earnings in first quarter 2013/2014 ? This dividend amounts to approx Rs 3 EPS for CFVF

I am a little confused on this.

These profits are included in P & L as it's the procedure of booking profits. Parent company have to account the profit/(loss) of the subsidiary based on ownership percentage.

Dividend declared by the subsidiary is not a profit, as it’s already booked. But this improves the cash position of the company.
@chinwi wrote:
As per their claim I think it is not included in the latest report. That means it will come next !
But I am also not sure because that profit may already included in consolidated accounts.
An expert on corporate accounting should help us. BTW , you have noticed a very important fact.


Thanks Hariesha & Chinwi for your inputs.

This is a slightly confusing matter when you compare 31st Dec 2012 & 31st March 2013 Accounts / Notes and the most important fact is that they changed their Accounting Standard only as at 31st March re classification of assets etc.

What Hariesha says is logical and is what i thought at first. However, on closer look at their statements, i find that Cash was only Rs 18 Mill as at 31st March. So, in order to declare a dividend of Rs 292 Mill between 31st March and 31st May 2013, some of their trading assets will have to be sold in order to pay it. This may not be captured as at 31st March 2013 balance sheet date. furthermore the 50 basis points drop in Repo Rate happened on 10th May.

So all things considered, the First Quarter is looking good.
Anybody expect further rate cuts ?

23Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 1:07 pm

Slstock


Director - Equity Analytics
Director - Equity Analytics
Yes. But in short term is might not be healthy . Best CB monitors further before the next one. Also will keep IMf happy.

@The Alchemist wrote:
Anybody expect further rate cuts ?

24Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 1:12 pm

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
It is a private hair bus.
Next bus is ready to come wait?

25Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 2:34 pm

glad


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hope the next bus is a 'standie' so that more can get in!!!!

26Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 2:38 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Next bus is VFIN

27Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 2:43 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@seek wrote:I cannot ask you to get in, as I got a more comfortable seat long time ago and published few threads when this was trading at 12 and 16.

But there is another bus, not yet moved, CSEC . Doesn’t have very powerful engine like CFVF, but can follow its child.

In the end all these dividends go to CSEC don't they Wink

Every year this bus runs and every year retailers get burnt with the brokers having a field day.

If you miss the bus you really have missed it. It will come back down Razz

28Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 4:29 pm

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hi.... Chinwi! Seek! The Alchemist! Slstock! Hariesha!

I am so happy about you all decision.s & GAINS Smile ...... cheers
I think I remember your comments on those days......
But I didn't focus and get in the bus on time.....
This was coz lack of experiences and knowledge.....

But today after reading the statements... and checking the bit of market performance..........
Though I didn't have cash in my hand.......
I dropped what I had..... HVA, CTBL KOTA SLTL & PLC....... with some lost....

And I got into CFVF..... between 17.5 to 19.00....... upto 25K+ and my average 18.60....
With some hope that it may hit further...... to 20s....
[I am a kind of beginner ...... learning thing in CSE... and had some burning too....]

Would like to have your opinions on this......decisions....
I may be late to have your response... scratch
but would like to have word....

Thx



29Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Mon Jun 03, 2013 6:29 pm

udeni

udeni
Manager - Equity Analytics
Manager - Equity Analytics
I am still in the bus thinking that Rs 2.4 increase today was just a warming up session. Hoping better days ahead.

30Missed the bus – CFVF? - Page 2 Empty Re: Missed the bus – CFVF? Tue Jun 04, 2013 12:30 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rainmaker wrote:
@seek wrote:I cannot ask you to get in, as I got a more comfortable seat long time ago and published few threads when this was trading at 12 and 16.

But there is another bus, not yet moved, CSEC . Doesn’t have very powerful engine like CFVF, but can follow its child.

In the end all these dividends go to CSEC don't they Wink

Every year this bus runs and every year retailers get burnt with the brokers having a field day.

If you miss the bus you really have missed it. It will come back down Razz

So we're missing the bus too often in CFVF? Or everyone expects a good 2 rupee dividend?

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