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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » What can do with TJL?

What can do with TJL?

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1What can do with TJL? Empty What can do with TJL? Sat Aug 10, 2013 1:48 pm

ansar


Manager - Equity Analytics
Manager - Equity Analytics
I need some experts' comments
I am a long as well as short term investor with some TJL shares bought at IPO for 15/=.
They have been growing strongly and paying the  following dividend:
23.2.2012          - 0.12
24.5.2012          - 0.36
07.2.2013          - 0.66
01.6.2013          - 0.58
*See CSE LINK
Total paid         - 1.70 per share.

When we compare with other companies, isn't that better to hold rather than losing?
So the current value of my investment is just Rs13.30 per share.
(Last traded @ 14.20)
Even though it has taken very difficult period of 2 years, they haven't abandoned us
So what can I do? Can I hold it for some time or sell it?

2What can do with TJL? Empty Re: What can do with TJL? Sat Aug 10, 2013 2:02 pm

dudi


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Tjl is a very good share which I also have in my pf.good that you ask that question

3What can do with TJL? Empty Re: What can do with TJL? Sat Aug 10, 2013 2:53 pm

funland


Equity Analytic
Equity Analytic
@ansar wrote:I need some experts' comments
I am a long as well as short term investor with some TJL shares bought at IPO for 15/=.
They have been growing strongly and paying the  following dividend:
23.2.2012          - 0.12
24.5.2012          - 0.36
07.2.2013          - 0.66
01.6.2013          - 0.58
*See CSE LINK
Total paid         - 1.70 per share.

When we compare with other companies, isn't that better to hold rather than losing?
So the current value of my investment is just Rs13.30 per share.
(Last traded @ 14.20)
Even though it has taken very difficult period of 2 years, they haven't abandoned us
So what can I do? Can I hold it for some time or sell it?

Assume that you have 1000 shares that were bought @ Rs.15.If you sell your shares @ Rs.14.20, your loss will be approximately Rs.1127 (the commission was assumed to be of 1.12%).However, you have gained Rs.1700 via dividends as per the dividend history that you have posted. Thus, you have gained Rs.573 (=1700-1127).You may also want to add the gain/loss on investing your dividends (Rs.1700).

Assume that the interest rate (for savings/FDs) given by a bank is 4% per annum. For your investment (say Rs.15, 000), the total interest is Rs.600 per year.

Now, you can decide whether it is good to sell @ Rs.14.20.If it is not good to sell @ Rs.14.20, you decide whether it is good to hold. If you don’t know whether it is good to hold, you go through their reports. You may also want to give a search on this forum. You may also want to check whether there are other stocks that can give better yield on your investment. The calculated values that I have given may not be correct. Thus, you need to check.

4What can do with TJL? Empty Re: What can do with TJL? Sat Aug 10, 2013 3:11 pm

K.Haputantri

K.Haputantri
Co-Admin
I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.

5What can do with TJL? Empty Re: What can do with TJL? Sat Aug 10, 2013 5:55 pm

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ansar wrote:I need some experts' comments
I am a long as well as short term investor with some TJL shares bought at IPO for 15/=.
They have been growing strongly and paying the  following dividend:
23.2.2012          - 0.12
24.5.2012          - 0.36
07.2.2013          - 0.66
01.6.2013          - 0.58
*See CSE LINK
Total paid         - 1.70 per share.

When we compare with other companies, isn't that better to hold rather than losing?
So the current value of my investment is just Rs13.30 per share.
(Last traded @ 14.20)
Even though it has taken very difficult period of 2 years, they haven't abandoned us
So what can I do? Can I hold it for some time or sell it?
If you are long term, TJL is one of the best shares available

6What can do with TJL? Empty Re: What can do with TJL? Mon Aug 12, 2013 7:44 am

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@funland wrote:
@ansar wrote:I need some experts' comments
I am a long as well as short term investor with some TJL shares bought at IPO for 15/=.
They have been growing strongly and paying the  following dividend:
23.2.2012          - 0.12
24.5.2012          - 0.36
07.2.2013          - 0.66
01.6.2013          - 0.58
*See CSE LINK
Total paid         - 1.70 per share.

When we compare with other companies, isn't that better to hold rather than losing?
So the current value of my investment is just Rs13.30 per share.
(Last traded @ 14.20)
Even though it has taken very difficult period of 2 years, they haven't abandoned us
So what can I do? Can I hold it for some time or sell it?
Assume that you have 1000 shares that were bought @ Rs.15.If you sell your shares @ Rs.14.20, your loss will be approximately Rs.1127 (the commission was assumed to be of 1.12%).However, you have gained Rs.1700 via dividends as per the dividend history that you have posted. Thus, you have gained Rs.573 (=1700-1127).You may also want to add the gain/loss on investing your dividends (Rs.1700).

Assume that the interest rate (for savings/FDs) given by a bank is 4% per annum. For your investment (say Rs.15, 000), the total interest is Rs.600 per year.

Now, you can decide whether it is good to sell @ Rs.14.20.If it is not good to sell @ Rs.14.20, you decide whether it is good to hold. If you don’t know whether it is good to hold, you go through their reports. You may also want to give a search on this forum. You may also want to check whether there are other stocks that can give better yield on your investment. The calculated values that I have given may not be correct. Thus, you need to check.
Dont sell this share! TJL is a beauty! If you are a long term investor, you can even consider collecting at these levels

7What can do with TJL? Empty Re: What can do with TJL? Mon Aug 12, 2013 5:39 pm

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@K.Haputantri wrote:I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.
Consider negative factor also. What abt revenue?? They enhanced their profit through cost cutting in da Admin. The bottom line didnt show any improvement. But last qtr looks impressive. Dividend pay also good. Better keep eye on Rev. growth in da long run.

8What can do with TJL? Empty Re: What can do with TJL? Mon Aug 12, 2013 7:36 pm

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Jana1 wrote:
@K.Haputantri wrote:I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.
Consider negative factor also.  What abt revenue?? They enhanced their profit through cost cutting in da Admin. The bottom line didnt show any improvement. But last qtr looks impressive. Dividend pay also good. Better keep eye on Rev. growth in da long run.
Revenue also went up - this company has a lot of potential

9What can do with TJL? Empty Re: What can do with TJL? Tue Aug 13, 2013 6:08 am

ansar


Manager - Equity Analytics
Manager - Equity Analytics
Thanks
Balanced_Views
Senior Equity Analytic

10What can do with TJL? Empty Re: What can do with TJL? Tue Aug 13, 2013 7:06 am

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Balanced_Views wrote:
@Jana1 wrote:
@K.Haputantri wrote:I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.
Consider negative factor also.  What abt revenue?? They enhanced their profit through cost cutting in da Admin. The bottom line didnt show any improvement. But last qtr looks impressive. Dividend pay also good. Better keep eye on Rev. growth in da long run.
Revenue also went up - this company has a lot of potential
@ Balacedview
Is it?? It seems, you don't know what revenue means. It was 12.23 bn in 2012 and 10.95 bn in 2013. So -10.5% growth...
It seems good promotion is going on without proper knowledge base to slaught poor retailers by marketing in the forum...

The risk of bringing factory in BOI region is there as it happened to DIPD- irrespective of the test results/ treatment of disposal..

11What can do with TJL? Empty Re: What can do with TJL? Tue Aug 13, 2013 8:50 am

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Jana1 wrote:
@Balanced_Views wrote:
@Jana1 wrote:
@K.Haputantri wrote:I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.
Consider negative factor also.  What abt revenue?? They enhanced their profit through cost cutting in da Admin. The bottom line didnt show any improvement. But last qtr looks impressive. Dividend pay also good. Better keep eye on Rev. growth in da long run.
Revenue also went up - this company has a lot of potential
@ Balacedview
Is it?? It seems, you don't know what revenue means. It was 12.23 bn in 2012 and 10.95 bn in 2013. So -10.5% growth...
It seems good promotion is going on without proper knowledge base to slaught poor retailers by marketing in the forum...

The risk of bringing factory in BOI region is there as it happened to DIPD- irrespective of the test results/ treatment of disposal..
Incorrect - the only reason revenue went down is due to cotton prices decreasing (not in this Q but in a previous Q - they buy material well ahead - and they pased on the benefit to their clients by reducing prices. Volume did not go down.

12What can do with TJL? Empty Re: What can do with TJL? Tue Aug 13, 2013 9:25 am

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Balanced_Views wrote:
@Jana1 wrote:
@Balanced_Views wrote:
@Jana1 wrote:
@K.Haputantri wrote:I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.
Consider negative factor also.  What abt revenue?? They enhanced their profit through cost cutting in da Admin. The bottom line didnt show any improvement. But last qtr looks impressive. Dividend pay also good. Better keep eye on Rev. growth in da long run.
Revenue also went up - this company has a lot of potential
@ Balacedview
Is it?? It seems, you don't know what revenue means. It was 12.23 bn in 2012 and 10.95 bn in 2013. So -10.5% growth...
It seems good promotion is going on without proper knowledge base to slaught poor retailers by marketing in the forum...

The risk of bringing factory in BOI region is there as it happened to DIPD- irrespective of the test results/ treatment of disposal..
Incorrect - the only reason revenue went down is due to cotton prices decreasing (not in this Q but in a previous Q - they buy material well ahead - and they pased on the benefit to their clients by reducing prices. Volume did not go down.

The below is da chairman message. Volume also reduced becz or crisis in europe and US. This is fundamental share but u seems promoting by hiding the low volume ...

The combined result of lower volumes and lower selling prices affected revenues. The decline in selling prices reflected the lower cotton prices that prevailed during the period, which also resulted in cost of sales being lower, leading to a higher gross profit margin of 11.59% compared 10.32% during the previous.

13What can do with TJL? Empty Re: What can do with TJL? Tue Aug 13, 2013 2:21 pm

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Jana1 wrote:
@Balanced_Views wrote:
@Jana1 wrote:
@Balanced_Views wrote:
@Jana1 wrote:
@K.Haputantri wrote:I too is in a similar situation but I intend to hold them as its a growing company. With the steady growth of EPS it may catch up in the future.
Consider negative factor also.  What abt revenue?? They enhanced their profit through cost cutting in da Admin. The bottom line didnt show any improvement. But last qtr looks impressive. Dividend pay also good. Better keep eye on Rev. growth in da long run.
Revenue also went up - this company has a lot of potential
@ Balacedview
Is it?? It seems, you don't know what revenue means. It was 12.23 bn in 2012 and 10.95 bn in 2013. So -10.5% growth...
It seems good promotion is going on without proper knowledge base to slaught poor retailers by marketing in the forum...

The risk of bringing factory in BOI region is there as it happened to DIPD- irrespective of the test results/ treatment of disposal..
Incorrect - the only reason revenue went down is due to cotton prices decreasing (not in this Q but in a previous Q - they buy material well ahead - and they pased on the benefit to their clients by reducing prices. Volume did not go down.
The below is da chairman message. Volume also reduced becz or crisis in europe and US. This is fundamental share but u seems promoting by hiding the low volume ...

The combined result of lower volumes and lower selling prices affected revenues. The decline in selling prices reflected the lower cotton prices that prevailed during the period, which also resulted in cost of sales being lower, leading to a higher gross profit margin of 11.59% compared 10.32% during the previous.

From the latest statement:

"As per the release to the CSE, TJL Chairman Bill Lam stated that higher sales volumes compared to the corresponding period last year made it possible for TJL to achieve Rs. 2.9 billion in sales revenue for 1Q FY2013/14, up 10% year on year.
His statement mentioned that the higher volumes also resulted in gross profit margins improving to 12.1% in 1Q FY2013/14 versus 10.3% in the corresponding quarter of last year. Lam stated the main reasons for the margin improvement were higher levels of efficiency and the wider distribution of fixed overheads as a result of higher capacity loading. As per the release, TJL’s gross profit for 1Q FY2013/14 reached Rs. 348 million, up 29% year-on-year.
According to Lam, the positive impact of the higher sales volumes and improved gross margins flowed down to the operating profit level, resulting in an operating profit margin of 8.0% for 1Q FY2013/14 compared to 6.3% during the same period of the previous year" - Daily FT 25th July

14What can do with TJL? Empty Re: What can do with TJL? Wed Aug 14, 2013 1:12 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Look at how their earnings grew from 2009. Other than the
decline in 2012, they had YOY growth.
Their long term liabilities has started decreasing too..
(Source for all images - TJL AR 2013, reproduced using the data available)

What can do with TJL? Tjl_5y10

Look at the growth in DPS & EPS.. Though it's not good for a growing company, many of our investors also be happy about it. Besides, due to foreign ownership, we gotta expect they take much out of their EPS to their originating country Smile 

And its not only Admin expenses that contributed their profit growth in 2013, its also net-finance income that played a vital role together with Admin expenses..
As per their AR 2013, the reduction is losses of foreign transaction and interest expense on short term working capital loans.
In addition, tax also helped in arriving the profitability cuz Tax calculated at a tax rate of 12% for 2013 as compared to the 15 in 2012.
Due to the agreement with the BOI of Sri Lanka, profit and income of TJL is exempted from income tax for a period of 15 years commenced from 12 September 2001.
Therefore, what's taxed have been local sales and interest income.

What can do with TJL? Net_fi10

CONS:
But after September 2015, where the 15 yrs will cease, the tax rate (current 12%) will be apply on their profits and income. Therefore, a deduction in revenue and PAT could be expected.

The following is a world price chart of Cotton for last 5yrs;

What can do with TJL? Cotton10

As per the chart in Cotton Prices, from Aug 2011 to Dec 2011, there was a decrease in cotton prices in the world market. Then it marginally went up and was somewhat stabilized till Apr 2012.
We see a gradual decline in prices till June 2012 and again a stabilization price till Dec 2012. After that it went up till March 2013 and now somewhat stabilized.

So if Revenue goes down due to Cotton prices, it has to be in;
Qtr ended Dec 2011
Qtr ended June 2012
Period ended July 2012 - Dec 2012

But looking at the following, I dont see much evidence to support their low revenues in FY 11/2012 other than
for few facts.

What can do with TJL? Net_pr10

In conclusion, I would rule out TJL being a bad investment.. Enter at right time though. We need to keep in mind that after Sep 2015, the tax structure come in to play so profitability could be decreased. And we need not to worry if invest on this knowing that.

15What can do with TJL? Empty Re: What can do with TJL? Wed Aug 14, 2013 1:31 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I take it that Pacific Textured Holdings or it's ultimate parent is not related in anyway to Pacific Brands. Please confirm this

If it is ...... the major shareholder will sell their stake. Pacific Brands is the PCH of the ASX Wink 

16What can do with TJL? Empty Re: What can do with TJL? Thu Aug 15, 2013 9:05 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rainmaker wrote:I take it that Pacific Textured Holdings or it's ultimate parent is not related in anyway to Pacific Brands. Please confirm this

If it is ...... the major shareholder will sell their stake. Pacific Brands is the PCH of the ASX Wink 
Textured Jersey Lanka (Private) Limited (Textured Jersey), is a joint venture between
Pacific Textiles Holdings Limited of Hong Kong (Pacific Textiles) and Sri Lanka’s Brandix Lanka Limited (Brandix Lanka).

Textured Jersey is currently jointly owned by Pacific Textiles, which has a 60% stake in the company, and the balance 40% being held by Brandix Lanka.

The Hong Kong listed Pacific Textiles is a leading manufacturer of customized knitted fabric in the global textile industry.
http://www.pacific-textiles.com

What can do with TJL? Pacifi10

On the other hand, Pacific Brands was a company owned by Dunlop Pneumatic Tyre Company in 1893 when Dunlop opened a new branch in Melbourne, Australia. Later in 1899, it was sold and started as a separate company by the name Dunlop Pneumatic Tyre Company of Australasia Ltd. Following a few name changes, it was later became Pacific Dunlop.

In 1985, Pacific Dunlop formed Pacific Brands as a division and later in 2011, sold it.
www.pacificbrands.com.au

source - wiki

I couldn't find any relationship between Pacific Brands and Pacific Textured Holdings.. If any of u guys have news, pls enlighten..

17What can do with TJL? Empty Re: What can do with TJL? Fri Aug 16, 2013 6:28 am

ansar


Manager - Equity Analytics
Manager - Equity Analytics
Dear Smallville,
I had some TJL
Whether you are wright or wrong
you could have told this last week. You are telling these things after the drop.
Now I am at a loss.
For how long do I want to wait?

18What can do with TJL? Empty Re: What can do with TJL? Fri Aug 16, 2013 7:59 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@ansar wrote:Dear Smallville,
I had some TJL
Whether you are wright or wrong
you could have told this last week. You are telling these things after the drop.
Now I am at a loss.
For how long do I want to wait?
I told these things before even.. U need to enter at a right time..
TJL is not a bad one, only thing is u need to filter out the comments of promoters.. Dont blame anyone If u buy TJL hoping it would reach 18 at the end of the week. Cuz ur out of common sense if u did so Wink

A retrace can happen now and then TJL will have a stagnated period too, then u can buy some more if u want.
But if ur a IPO buyer, then u'll have to wait a lil more to see this coming up.. Their growth is good and I would say it can turn out to be a good investment till 2015 where u can see a little revenue drop due to Tax.

19What can do with TJL? Empty Re: What can do with TJL? Fri Aug 16, 2013 8:49 am

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Pacific Brands has nothing to do with Pacific Textiles. Many Hong Kong based companies use the name Pacific.. Even Cathay Pacific is one such.,

TJL is a very good share... But quick capital gains is not possible when you buy at these prices.. see the resistance came at 15 level. The moment if touched 15 selling flooded..

IPO price is the barrier of this share.. Anyway the companies with foreign ownership prefers higher dividend pay out ratio...When evaluating the diviend yield, TJL, PLC and JINS are the best

Anyway now some are still making Profit on TJL..( I am still on Profit)... and some are stopping losses... and the demand for TJL has gone to some other shares.. This will be a better chance for those who currently have high quantities to pull down the share price and collect more..

20What can do with TJL? Empty Re: What can do with TJL? Fri Aug 16, 2013 10:11 am

ansar


Manager - Equity Analytics
Manager - Equity Analytics
Thanks...........somer
I get ideas from others and make my own decisions. This was an IPO stock. I awaited to see some profit. There was a profit after 14 as I got dividend of 1.70. As it was a long wait, I had an idea to see a good profit. That's all.
I'll wait some more till the time comes

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