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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Quarterly Earnings (ending 30/09/2013) at a glance

Quarterly Earnings (ending 30/09/2013) at a glance

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sriranga

sriranga
Co-Admin
SAMPATH BANK PLC (SAMP)

•         SAMP recorded a bottom line of LKR 860mn (-19.6% YoY) for Q3 FY 2013
•         Fall in profitability has mainly come on the back of high loan loss provisions, despite healthy growth     in core NII
•         ROE on annualized earnings 12%
•         Loan growth – 6% QoQ and 18% YTD
•         Deposit growth – 4% QoQ and 14% YTD
•         CASA at 33%
•         Capitalization
o    Tier 1 – 10.2%
o    Tier 1+2 – 12.5%  
•         Asset quality has further deteriorated
o    Gross NPL 3.1% (Q2 FY 13 – 2.5%)
o    Net NPL 0.8% (Q2 FY 13 – 0.4%)
•         EPS for Q3 FY 13 LKR 5.12 / 9M FY 13 LKR 15.30 / Annualized LKR 20.40
•         NAVS – LKR 166.70
•         PER (x) – 8.4x
•         PBV (x) – 1.0x


JOHN KEELLS HOLDINGS PLC - JKH

•         Net Revenue flat at LKR 21.08bn for Q2 FY 14
•         GP margin improved to 27.7% ( GP margin Q2 FY 13- 26.2%)
•         Other income declined 57.5% to LKR 193mn
•         EBIT grew 1.7% YoY to LKR 1.77bn
•         EBIT margin 8.4%
•         Profit attributable to equity holders dropped 14.6% YoY to LKR 2.06bn
•         NAV per share- LKR 108.42
•         PER – 17.5x (based on FY 2014E EPS of LKR 12.70)
•         PBV-2.05x
•         Sector PER- 21.4x
•         Sector PBV-1.95


Dialog Axiata PLC – DIAL

•         Group revenue during Q3 13 increased 11.8% YoY to LKR 16.1 bn. YTD revenue is at LKR 47 bn. Up 14% YoY
•         Gross profit declined 11% YoY to LKR 6.8 bn. during Q3 13
•         GP margin remained flat at 42%
•         Finance cost for the quarter was LKR 402 mn.
•         Q3 13 EBIT increased 4.8% YoY to LKR 2.2 bn.
•         NPAT for the for Q3 13 was down 68% YoY to LKR 1.5 bn. YTD figure declined 20% to LKR 4.1 bn.
•         The company recorded non cash translational FOREX losses of LKR 222 mn during Q3. This brings the YTD figure to LKR 1.078 mn.
•         Normalized NPAT adjusted for FOREX loss was LKR 1.7 bn (down 3% YoY) for Q3 13 and LKR 5 bn (down 11%YoY) YTD.
•         The company continued to invest heavily in infrastructure, bringing the YTD CAPEX figure to LKR 20.4 bn.
•         Net debt to EBITDA remained modest at 1.14x
•         TTM EPS LKR 0.63
•         NAV per share LKR 4.74
•         Trailing PE – 14.1x
•         PBV – 7.5x
•         Sector PE – 14.9x
•         Sector PBV – 1.4x


PEOPLE’S LEASING AND FINANCE PLC (PLC)

•         For Q2 FY14, PLC reported a bottom line of LKR 786mn (-3% YoY)
•         Fall in bottom line is mainly attributable to rise in credit cost on account of notable increase in non performing advances during the period (during H1, NPLs have doubled, albeit from a smaller base)
•         H1 FY 14, bottom line LKR 1.5bn – flat YoY growth
•         Gross NPL ratio 1.94% (FY 2013 – 1.23%)
•         Net loan book – flat growth
•         Net interest margins have improved during H1 FY 14 to 8.54%  from 8.10% in March 13, with the liability side getting re-priced downwards with the recent rate fall. However, we expect NIMs to decline towards the end of the FY, with the long-term assets getting adjusted for the fall in market rates.
•         EPS Q2 FY 14 – LKR  0.50, H1  FY 14 – LKR 0.93, Annualized EPS – LKR 1.86, NAVS LKR 11.99
•         PER on annualized earnings  7.5x, PBV 1.2x (sector PER 8.1x, sector PBV 1.4x)


ROYAL CERAMICS LANKA PLC (RCL)

•         Net Revenue for Q2 FY 14 increased 171.8% YoY to LKR 4.89bn due to the inclusion of Lanka Ceramics Revenue
•         Cumulative revenue for the six months grew 124.5% YoY to LKR 7.81bn
*Tiles  - LKR 5.64bn, Sanitaryware – LKR 371mn, Paints – LKR 51.6mn, Packing – LKR 909mn
•         GP margin lowered to 31% (Q2 FY 13 – 48%)
•         EBIT for Q2 FY 14 recorded at LKR 753mn (Q2 FY 13 – LKR 418mn)
•         EBIT margin 15.3% in comparison to 23.2% the previous period
•         Net profit attributable to Equityholders LKR 112mn (-73.3% YoY)
•         Forward PER nm as annualized EPS is LKR 0.60 (six months EPS is LKR 0.29)
•         NAV per share LKR 76.53 (PBV – 1.15x)
•         Sector PER 13.04x, sector PBV – 1.82x


NESTLE LANKA PLC

•         For Q3 FY 13 revenue is up 10.8% YoY to LKR 7.8bn
•         Gross profit up by 19.7%
•         GP margin 35.2% ( GP margin Q3 FY 12- 32.6%)
•         EBIT – LKR 1.1bn ( EBIT Q3 FY 12 – 808.5mn )
•         EBIT margin at 14.4% ( EBIT margin Q2 FY 13- 11.5%)
•         Profit  after taxes up 13.5% YoY to LKR 905.56mn
•         NAV per share- LKR 64.68
•         PER – 32.0x
•         PBV- 29.8x
•         Sector PER- 21.5x
•         Sector PBV- 6.2 x


SUNSHINE HOLDINGS PLC - SUN

•         Q2 2014 revenue up 7% YoY to LKR 3.49 bn.
o    Healthcare sector contributed 38%
o    Plantations 40%
o    FMCG 17%
•         Cost of sales increased by 4% YoY
•         Gross profit for Q2 2014 increased by 14% YoY to LKR 902 mn.
•         Gross profit margin is 26% compared to 24% in the previous quarter.
•         EBIT up 13% YoY during Q2 2014 to LKR 370 mn from LKR 327mnnet profit  for the quarter was LKR 236 mn. Up 10% YoY
o    Healthcare accouted for 42%
o    FMCG 39%
o    Plantations 27%
•         Trailing 12 month EPS – LKR 4.47
•         NAV per share – LKR 31.88
•         PER – 6.71x
•         PBV – 0.94
•         Sector PE – 21.55x
•         Sector PBV – 1.96x


KELANI VALLEY PLANTATIONS PLC - KVAL

•         Revenue for Q3 2013 declined 0.2% YoY to LKR 1.54 bn.
o    Tea revenue increased 13%
o    Rubber revenue declined 11%
•         Cost of sales increased 14% YoY
•         Gross profit for Q3 2013 was down 53% YoY to LKR 160.2 mn
•         GP margin was at 10.4% compared to 21.85% during the corresponding period last year.
•         EBIT for the quarter was LKR 57 mn down 74% YoY.
•         Net profit for the quarter was LKR 36.7 mn. down 79% YoY.
•         Trailing 12 month EPS – LKR 9.77
•         NAV per share – LKR 75.23
•         PER – 7.84x
•         PBV – 1.02x
•         Sector PE – 8.42x
•         Sector PBV – 0.76x


AMAYA LEISURE PLC- CONN

•         For Q2 FY 14 revenue is up 11.7% YoY to LKR 294.1mn
•         Cost of sales up 37% YoY to LKR 88.3mn
•         GP margin 70% ( GP margin Q2 FY 13- 76%)
•         SG&A expenses up 11% YoY to LKR 104.4mn
•         EBIT down 5.1% YoY to LKR 107.6mn
•         EBIT margin at 37% ( EBIT margin Q2 FY 13- 43%)
•         Profit  after taxes down 18.5% YoY to LKR 93.7mn
•         TTM EPS – LKR 7.16
•         NAV per share- LKR 54.01
•         PER – 10.1x
•         PBV- 1.3x
•         Sector PER- 48.2x
•         Sector PBV-  3.2x


JOHN KEELLS HOTELS PLC (KHL)

•         For Q2 FY 14 revenue is up 30% YoY to LKR 2.56bn
•         Gross profit up 28% YoY to LKR 1.65bn
•         GP margin 64.6%% ( GP margin Q2 FY 13- 65.7%)
•         Results from operating activities up  127% YoY to LKR 386.7mn
•         EBIT margin at 15.1% ( EBIT margin Q2 FY 13- 8.7%)
•         Profit  after taxes up 118% YoY to LKR 250.1mn
•         TTM EPS – LKR 0.81
•         NAV per share- LKR 11.52
•         PER – 14.8x
•         PBV- 1.0x
•         Sector PER- 48.4x
•         Sector PBV- 3.2 x


HORANA PLANTATIONS PLC (HOPL)

•         For Q2 2014 revenue increased by 8% YOY to LKR 546.4mn.
o   Tea sector accounted for 65% of revenue, mainly due to the improvement in auction prices during the quarter.
o   Rubber sector accounted for 24% of revenue.
•         Gross profit declined 16.2% YOY to LKR 59.2mn.
•         GP margin declined to 10.8% from 14% in the corresponding quarter last year.
•         EBIT declined 18.4% YOY to 62.8mn.
•         EBIT margin for Q2 14 was 11.5%
•         Net profit was down 17.8% YOY to LKR 24.7mn.
•         NAV per share- LKR 55.70
•         PER – 4.4x
•         PBV- 0.4x
•         Sector PER- 8.6x
•         Sector PBV- 0.7x


DIESEL & MOTOR ENGINEERING PLC (DIMO)

•         For Q2 FY 14 revenue down 26% YoY to LKR 5.2bn
•         GP margin 21% ( GP margin Q2 FY 13- 14%)
•         Results from operating activities down  37% YoY to LKR 168.7mn
•         EBIT margin at 3.2% ( EBIT margin Q2 FY 13- 3.8%)
•         Profit  after tax  down 58% YoY to LKR 47.6mn
•         TTM EPS – LKR 8.23
•         NAV per share- LKR 858.25
•         PER – 60.1x
•         PBV- 0.6x
•         Sector PER- 7.4x
•         Sector PBV- 1.1 x
As per the Sunday times, the Finance ministry has granted a tax concession of LKR 757.8mn to import 54 S400 model Benz cars for the Commonwealth summit in November. As per DIMO Chairman, the vehicles will be imported via DIMO the sole agent for Mercedes Benz in Sri Lanka.


LANKA FLOORTILES PLC (TILE)

•         For Q2 FY 14 revenue (sales net of tax) up by 13.0% to LKR 1.23bn
•         Gross Profit up by 19%.
•         GP margin 33.0% ( GP margin Q2 FY 13- 32.0%)
•         EBIT up by  16.5% to LKR 247.5mn
•         EBIT margin at 20.0% ( EBIT margin Q2 FY 19.5%)
•         Profit  after tax – LKR 183.4mn (Q2 FY 13- LKR 159.0mn)
•         NAV per share- LKR 61.45
•         PER – 7.68x
•         PBV- 1.2x
•         Sector PER- 13.7x
•         Sector PBV- 1.8x


LANKA WALLTILES PLC (LWL)

•         For Q2 FY 14 revenue up by 11.6% to LKR 3.37bn
•         Gross Profit up by  15.5%.
•         GP margin 24.5% ( GP margin Q2 FY 13- 23.6%)
•         Income from disposal of investment property LKR 50.0
•         EBIT (recurring) up by  16.5% to LKR 428mn
•         EBIT margin at 12.7% ( EBIT margin Q2 FY 13.8%)
•         Profit  after tax (recurring) – LKR 236.0mn (Q2 FY 13- LKR 266.0mn)
•         NAV per share- LKR 96.33
•         PER – 13.6x (based on reported EPS)
•         PER- 17.2x (based on recurring EPS)
•         PBV- 0.58x
•         Sector PER- 13.7x
•         Sector PBV- 1.8x
Source: BRS Equity Research

http://sharemarket-srilanka.blogspot.co.uk/

UAEBOY

UAEBOY
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Great work Sriranga....

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Great work... Would like to see LGL, TKYO, AEL n TJL if possible at a glance. Good post

Cheers

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Excellent work Sri. Thanks

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Excellent presentation.
Concerning the banking sector let me shed my own view which may subject to comments.
Under the current macro economic situations where Sri Lanka is standing on, increasing of the amount of non performance loans & the provision set on financial reports, would be a minus point to attract the investors attention to the said counters. It is true banks need more liquidity to compete in the sector but the way they raise the liquidity would negatively affect the capital market.

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
one of the best posts i ve seen in this forum. Thanks a lot friend. Yes I am eager to see TJL, as too

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Excellent work Sriranga.

We need more Srirangas in to this forum

hunter

hunter
Moderator
Moderator
That's amazing! Great work Sri.

Thanks.

sriranga

sriranga
Co-Admin
SEYLAN BANK PLC (SEYB)
·  SEYB’s profitability came down 19% YoY during the quarter to LKR 536mn.
·  Fall in profitability is attributable to provisions on account of Ceylinco Homes International Ltd and Golden Key Credit
Card companies.
·  NIMs have improved 16 basis points to 4.63%
·  Flat loan book growth
·  Deposit growth – 2% for the Q3 FY13
·  CASA ratio has deteriorated to 33% from 34% recorded in Dec 2012
·  Asset quality has improved with Gross and Net NPL ratios slightly coming down
·  Gross NPL 11.3% (FY 2012 – 13%)
·  Net NPL 8.5% (FY 2012 – 9.8%)
·  EPS – Q3 FY13 – LKR 1.55 / 9M FY13 – LKR 4.43
·  NAVS – LKR 60.29
·  PER – voting 11.2x / non voting 6x
·  PBV – voting 1.1x / non voting 0.6x



HAYCARB PLC (HAYC)
·  For Q2 FY 14 revenue has declined by 18% to LKR 2.6bn mainly due to the price reduction in FY 2013.
·  Gross Profit up by 8%.
·  GP margin 27.3% ( GP margin Q2 FY 13- 20.6%)
·  Finance cost up by 153.1% to 71.2mn
·  Profit after tax – LKR 260.9mn (Q2 FY 13- LKR 284.5mn)
·  NAV per share- LKR 156.2
·  PER – 6.6x
·  PBV- 1.2x
·  Sector PER- 7.8x , Sector PBV- 1.4x



TEXTURED JERSEY LANKA PLC - TJL
·  Net Revenue for Q2 FY 14 increased 33.8% YoY to LKR 3.23bn aided by volume growth
·  GP margin improved to 10.7% (Q2 FY 13 – 7.9%)
·  EBIT grew 67.1% YoY to LKR 249mn, despite rise in SG & A expenses
·  The 91% YoY rise in administration expenses is due to the lower expense recorded last year as a result of a provision
reversal.
·  EBIT margin was recorded at 7.9% (Q2 FY 13 – 6.1%)
·  Net profit recorded for the six months increased 53.4% YoY to LKR 503mn
·  Forward PER –9.5x (based on FY 2014E EPS-LKR 1.65)
·  PBV- 1.67x (NAV per share- LKR 9.40)
·  Sector PER- 13.1x, Sector PBV- 1.8x



ASIAN HOTELS AND PROPERTIES - AHPL
·  For Q2 FY 14 revenue is marginally up 3.6% YoY to LKR 2.12bn
·  Hotel segment: LKR 2.03bn up 3.7% YoY
·  Property segment: LKR 96mn up 1.6% YoY
·  Cost of sales up 6.4% YoY to LKR 800mn
·  GP margin 62.3% ( GP margin Q2 FY 13- 63.3%)
·  SG&A expenses up 7.3% YoY to LKR 679.2mn
·  EBIT down 2.6% YoY to LKR 657.3mn
·  EBIT margin at 31% ( EBIT margin Q2 FY 13- 33%)
·  Profit after taxes down 1.6% YoY to LKR 677.1mn
·  TTM EPS – LKR 4.44
·  NAV per share- LKR 48.00
·  PER – 16.0x
·  PBV- 1.5x
·  Sector PER- 48.2x
·  Sector PBV- 3.2 x



Lanka Hospitals Corporation PLC - LHCL
·  Revenue for Q3 FY 2013 increased 12% YOY to LKR 973.1 n.
·  GP increased by 18.3% YOY to LKR 557.6 mn
·  GP margin for the quarter was 57.3% compared to 54.3% recorded in the corresponding quarter.
·  EBIT grew by 32.2% YOY to LKER 99.36 mn
·  Profit after tax increased 29.2% YOY to LKR 122.2 mn.
·  Trailing EPS – LKR 2.51
·  NAV per share – LKR 17.80
·  PER – 17.45x
·  PBV – 7.1x
·  Sector PER – 28.15x
·  Sector PBV – 2.5x



DIPPED PRODUCTS PLC – DIPD
·  Net Revenue for Q2 FY 14 dropped 6.1% YoY to LKR 5.58bn due to closure of production operations in Rathupaswala
factory
·  Revenue for the six months ending September grew 3.1% to LKR 11.91bn
·  Hand protection sales dropped 5.4% to LKR 6.9bn while plantation revenue grew 15.3% YoY LKR 5.41bn.
·  GP margin declined to 15.6% (Q2 FY 13 – 19.8%)
·  EBIT dropped 60.8% YoY to LKR 375mn
·  Forward PER –6x (based on FY 2014E annualized EPS-LKR 16.00)
·  PBV- 0.75x (NAV per share- LKR 119.61)
·  Sector PER- 13.1x, Sector PBV- 1.8x



Chevron Lubricants Lanka PLC - LLUB
• Revenue declined 7.1% YoY for Q3 FY 13 to LKR 2.78bn due to contraction in lubricant consumption
• Gross profit increased 10% YoY to LKR 1.02bn
• GP margin improved to 36.7% from 31.1% a year earlier
• EBIT margin 27.4% (Q3 FY 12 – 22.5%)
• Net profit up 16.8% YoY to LKR 609mn (Q3 FY 12 – LKR 522mn)
• Q3 FY 13 EPS LKR 5.08 (+16.8% YoY
• Forward PER –13x (based on FY 2013E EPS-LKR 21.00)
• PBV- 6.1x (NAV per share- LKR 44.56)
• Sector PER- 13.5x, Sector PBV- 1.8x
Source: BRS Equity Research

http://sharemarket-srilanka.blogspot.co.uk/

sriranga

sriranga
Co-Admin
Thanks you very much for your encouraging feedbacks.

Please note, like usual I'm sharing the infos gathered from various sources.
100% appreciation should go to the BRS Research unit. They are the one need to be thanked.

TJL and other companies please follow the below link. Thanks.
http://forum.srilankaequity.com/t31572-quarterly-earnings-ending-30-09-2013-at-a-glance-part-2

http://sharemarket-srilanka.blogspot.co.uk/

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@sriranga wrote:Thanks you very much for your encouraging feedbacks.

Please note, like usual I'm sharing the infos gathered from various sources.
100% appreciation should go to the BRS Research unit. They are the one need to be thanked.

TJL and other companies please follow the below link. Thanks.
http://forum.srilankaequity.com/t31572-quarterly-earnings-ending-30-09-2013-at-a-glance-part-2

Aiyo...Anyway keep on sharing useful information from othersites. Your motive is genuine

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thanks Sri. Super format !

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
At a glance you can evaluate shares and there is no promotion. What ratios are considered in your decision making is upto you. Thanx sri ranga for your effort taken to educate us

sriranga

sriranga
Co-Admin
Asiri Hospital Holdings PLC (ASIR)

• Revenue during Q2 FY 14 increased 11% YoY to LKR 1.9 bn.
• Cost of services increased 9% YoY to LKR 927 mn.
• Gross profit during Q2 FY 14 increased 13% YoY to LKR 969 mn.
• GP margin remained flat at 51.1%
• Selling and distribution costs increased 337% YoY to LKR 74 mn from LKR 17 mn.
• EBIT for Q2 14 was 457 mn up 20.7% YoY.
• NPAT increased 10.4% YoY to LKR 290 mn from 142 mn during the corresponding period.
• TTM EPS – LKR LKR 0.85
• NAV per share – LKR 5.31
• Trailing PE – 18x
• PBV – 2.88x
• Sector PE – 27.5x
• Sector PBV – 2.5x


Asiri Surgical Hospital PLC  (AMSL)

• Revenue during Q2 FY 14 down 5.7% YoY to LKR 543mn.
• Cost of services declined 4% YoY
• Gross profit for Q2 14 declined 7.8% YoY to LKR 232 mn.
• GP margin was at 42.7% compared to 43.5% during the corresponding period during the previous year.
• EBIT declined by 21% during Q2 14 to LKR 93.8 mn.
• Finance income during Q2 FY 14 increased to LKR 33 mn from LKR 10.
• NPAT grew by 1.5% during Q2 14 to LKR 101 mn.
• TTM EPS – LKR 0.82
• NAV per share – LKR 6.80
• Trailing PE – 12.4x
• PBV 1.5x
• Sector PE – 27.5x
• Sector PBV – 2.5x


JANASHAKTHI INSURANCE PLC- JINS
• For Q3 FY 13 Gross Written Premium up 9.6% YoY to LKR 2.1bn
 Total Life premium up 11% YoY to LKR 549mn
 Total Non-life premium up 9% YoY to LKR 1.5bn
• Net Earned Premium up 12% YoY to LKR 1.9bn
• Fair value loss for the quarter 14.8mn (Fair value gain in Q3 FY 12- LKR 104.6mn)
• Total Net income up 11% YoY to LKR 2.4bn
• Total benefits, claims & Net acquisition costs up 23% YoY 1.8bn
• Other operating and Admin expenses up 12% YoY to LKR 487.3mn
• PAT down 69% YoY to LKR 81.9mn
• NAV per share- LKR 9.40
• PBV- 1.37x
• Sector PBV- 1.44x


Laugfs Gas PLC (LGL)

• Revenues for Q2 FY 14 increased 17% to LKR 3.028 bn from LKR 2.558 bn during the corresponding quarter last year.
• Cost of sales declined 2% YoY during the quarter
• Gross profit for Q2 14 was LKR 973 mn. Up 68% YoY.
• GP margin for the quarter was 32.1% compared 22.3% during the corresponding quarter.
• EBIT grew 58% during Q2 14 to LKR 747 mn.
• NPAT grew by 50 YoY to LKR 620 mn.
• TTM EPS – LKR 3.83
• NAV per share – LKR 17.52
• Trailing EPS – 7.36x
• PBV – 4.57x
• Sector PE – 11.6x
• Sector PBV – 1.44x


HEMAS HOLDINGS PLC (HHL)

• Revenues for Q2 FY 14 up by 16% to LKR 7.6 bn.
• Gross profit for Q2 14 was LKR 2.51bn. Up 28.2% YoY.
• GP margin for the quarter was 32.8% compared 29.6% during the corresponding quarter.
• EBIT grew 66% during Q2 14 to LKR 1.00bn. (due to the inclusion of capital gain in transferring 21 acres of property in Tangalle to Minor International-for the purpose of developing a luxury resort)
• NPAT grew by 57.4% YoY to LKR 696.7 mn.
• Recurring NPAT- LKR 625mn
• TTM EPS (Recurring) – LKR 3.54
• NAV per share – LKR 24.94
• Trailing PE – 9.1x
• PBV – 1.30x
• Sector PE – 21.3x
• Sector PBV – 1.9x


Sri Lanka Telecom PLC (SLT)

• Revenue during Q3 2013 increased 7% YoY to LKR 15.4 bn.
• Operating cost for the quarter increased 6% YoY to LKR 10.3 bn.
• EBITDA for the period increased 10% YoY to LKR 5.1 bn.
• EBITDA margin for the period was 33.4% compared to 32.5% during the corresponding quarter.
• EBIT for the quarter increased 19% YoY to LKR 2 bn.
• EBIT margin was 13.1% compared to 11.7% during the corresponding quarter.
• Net profit for the period declined 15% YoY to LKR 1.6 bn compared to LKR 1.9 bn in the corresponding quarter.
The decline was mainly due to a Forex. loss of LKR 247 mn recorded during the quarter as opposed to a Forex. Gain of LKR 441 recorded during the corresponding quarter.
• Normalized NPAT indicated an increase of 28% YoY.
• TTM EPS – LKR 2.65
• NAV per share – LKR 30.65
• Trailing PER – 14.3x
• PBV – 1.23x
• Sector PER – 14.85x
• Sector PBV – 1.4x


Vallibel Power Erathna PLC

• Revenue for Q2 2013 increased 72% YoY due to an increase in hydro power generation.
• Cost of sales during the quarter declined 3% YOY
• Gross profit during Q2 2014 was up 86% YoY to LKR 337 mn.
• GP margin was 90.8% compared to 83% during the corresponding period.
• EBIT for the quarter increased 1035 yoY to LKR 310 mn compared to LKR 153 mn during the corresponding quarter.
• EBIT margin for Q2 14 was 84%
• Company recorded a NPAT of LKR272 mn which was a 141% YoY increase.
• TTM EPS – LKR 0.84
• NAV per share – LKR 2.89
• Trailing PER – 17.4x
• PBV – 2x
• Sector PER – 11.98x
• Sector PBV – 1.45x


CENTRAL FINANCE COMPANY PLC (CFIN)
• For Q2, CFIN reported a bottom line of LKR 631mn (-4% YoY)
• Fall in profitability was due to high credit cost, despite healthy core income growth  
• Asset growth has slowed, however deposit growth has been steady during H1 FY 14.
• As a result,  reliance on short term borrowings has come down and excess liquidity has been parked in other low yielding interest earning assets.  
• Annualized ROE 18.3%
• EPS – Q2 LKR 7.46 / H1 – LKR 15.34/  Annualized LKR 30.69
• NAVS – LKR 174.32
• PER – 6x (BFI sector – 8.0x )
• PBV – 1 (BFI sector – 1.6x)


NATIONS TRUST BANK PLC (NTB)

• For Q3 FY 13, NTB reported a bottom line of LKR 616mn (+7% YoY)
• For 9M FY 13, bottom line of LKR 1.6bn (+6% YoY)
• Modest profit growth was due to high credit cost. Gross NPL and Net NPL have increased to 4% and 2.5% respectively. (Previous 2.8% and 1.3%)
• Core income growth has been healthy (NIMs improved by 70bp to 5.7%)
• Steady fee income growth – despite the slowdown in trade finance income, growth in credit card related fee income has been favorable  
• Annualized ROE 20%
• Loan book growth 6% - corporate lending has slowed down, SME, credit card and leasing advances growth has been satisfactory
• CASA improved from 22% to 24%
• EPS – Q3 LKR 2.67 / 9M – LKR 6.92 / Annualized LKR 9.23
• NAVS – LKR 48.60
• PER 6.5x
• PBV 1.2x


SANASA DEVELOPMENT BANK (SDB)
• For Q3, reported bottom line – LKR 104mn (-19% YoY)
• For 9M reported bottom line – LKR 301mn (+10% YoY)
• For Q3 and 9M, core income growth has slowed down (+4% YoY)
• NIMs have fallen by 144bp during the nine months
• Slow NII growth, high credit cost and increase in staff cost has eroded bottom line in Q3
• NPLs have risen – Gross NPL and Net NPL at 6.4% and 4.4% (previous 4.6% and 2.8%)
• EPS – Q2 LKR 4.12 / 9M – LKR 11.97 / Annualized LKR 15.97
• NAVS – LKR 137.72
• PER 5x
• PBV 0.6x


DISTILLERIES COMPANY OF SRI LANKA (DIST)
• For Q2 FY 14 revenue up marginally 0.6% to LKR 15.3bn

Quarterly Earnings (ending 30/09/2013) at a glance Brs10

• Gross Profit up by 13.2%.
• GP margin 50.3% ( GP margin Q2 FY 13- 44.6%)
• Results from operating activities up by 1.2% to LKR 2.47bn
• EBIT margin at 34%
• Profit  for Q2 FY 14 has come down by 7.8% to LKR 1.5bn
• NAV per share- LKR 166.42
• PER – 10.5x
• PBV- 1.1x
• Sector PER- 21.1x
• Sector PBV-6.1x


Vidullanka PLC (VLL)

• Revenue for Q2 2014 increased 130% YoY to LKR 163mn.
• Gross profit during Q2 2014 was up 143% YoY to LKR 128 mn.
• GP margin was 78% compared to 73% during the corresponding period.
• EBIT for the quarter increased 230% yoY to LKR 92.11 mn compared to LKR 18.8 mn during the corresponding quarter.
• EBIT margin for Q2 14 was 56.5%
• Company recorded a NPAT of LKR72.5 mn which was a 286% YoY increase.
• TTM EPS – LKR 0.40
• NAV per share – LKR 2.45
• Trailing PER – 9x
• PBV – 1.46x
• Sector PER – 12x
• Sector PBV – 1.46x


Nawaloka Hospitals PLC (NHL)

• Revenue during Q2 FY 14 decreased 3% YoY to LKR 1.078 bn.
• Cost of services increased 4% YoY to LKR 536 mn.
• Gross profit during Q2 FY 14 declined 9% YoY to LKR 542 mn.
• GP margin was 50.2% compared to 53.6% in the corresponding period.
• EBIT for Q2 14 was 127.8 mn, down34% YoY.
• NPAT increased 10.4% YoY to LKR 75.6 mn from 187.2 mn during the corresponding period.
• TTM EPS – LKR 0.24
• NAV per share – LKR 2.76
• Trailing PE – 12x
• PBV – 1.05x
• Sector PE – 27.9x
• Sector PBV – 2.5x


COMMERCIAL BANK OF CEYLON (COMB)

• For Q3, bank reported a bottom line of LKR 2.8bn (+22% YoY)
• Rise in profitability is attributable to rise in core net interest income (+15% YoY), healthy fee income growth (+37% YoY) and rise in other operating income
• For 9M FY 13, COMB reported a bottom line of LKR 7.2bn (-2% YoY)
• Gross loans – 5.1% growth for the first nine months of the year
• CASA at 43%
• ROE 18%  
• Asset quality has come down, Gross NPL increased to 4.2% from previous 3.4%  
• EPS – Q3 LKR 3.25 / 9M – LKR 8.53/  Annualized LKR 11.37
• NAVS – LKR 68.62
• PER – Voting 10x / Non-voting 8x (BFI sector – 8.0x )
• PBV – Voting 1.6x / Non –voting 1.3x (BFI sector – 1.6x)


HATTON NATIONAL BANK PLC (HNB)

• For Q3, HNB reported a bottom line of LKR 2.4bn (+22% YoY)
• Profit growth is mainly attributable to healthy fee income growth (+28% YoY) and absence of trading losses from Q3 FY 2012
• Core NII growth modest at 8% for Q3
• For 9M FY 13, HNB reported a bottom line of LKR 5.8bn (+17% YoY) – due to healthy NII growth (+18% YoY) and fee income growth (+16% YoY)
• Loan book growth – 11% for the nine months period
• Deposit growth – 7% for the nine months period
• CASA at 38%
• Asset quality has come down – Gross NPL increased to 4.7% from previous 3.7%
• EPS – Q3 LKR 5.88 / 9M – LKR 14.43/  Annualized LKR 19.24
• NAVS – 139.55
• PER – Voting 7.5x / Non- voting 5.7x
• PBV – Voting 1.0x / Non -voting 0.8x


NAMUNUKULA PLANTATIONS PLC (NAMU)

• For Q2 2014 revenue increased by 24% YOY to LKR 617.6mn.
• Tea sector accounted for 47% of revenue, mainly due to the improvement in auction prices during the quarter.
• Rubber sector accounted for 20% of revenue.
• Oil Palm represents 31% of revenue
• Gross profit increased 7% YOY to LKR 169mn.
• GP margin declined to 27.4% from 31.7% in the corresponding quarter last year.
• EBIT increased 10% YOY to 132 mn.
• EBIT margin for Q2 14 was 21.4%
• Net profit was down 2% YOY to LKR 111mn.
• TTM EPS – LKR 16.50
• NAV per share- LKR 81.70
• PER – 4.4x
• PBV- 0.89x
• Sector PER- 7.5x
• Sector PBV- 0.74x


KEGALLE PLANTATIONS PLC (KGAL)

• For Q2 2014 revenue decreased 24% YoY to LKR 620mn.
• Tea sector accounted for 57% of revenue.
• Rubber sector accounted for 37% of revenue.
• During Q2 2014 gross profit declined 54% YoY to LKR 96 mn.
• GP margin declined to 15.5% from 31.4% in the corresponding quarter last year.
• EBIT margin for Q2 204 was 24.7%
• Net profit was down 22% YOY to LKR 159.7mn.
• TTM EPS – LKR 19.16
• NAV per share- LKR 130.55
• PER – 5x
• PBV- 0.74x
• Sector PER- 7.5x
• Sector PBV- 0.74x


DFCC BANK (DFCC)

• For Q2, bank reported a bottom line of LKR 624mn (-23.8% YoY)
• For H1, the reported bottom line is LKR 1.2bn (-13.2% YoY)
• Fall in profitability is attributable to increase in loan loss provisions and increase in admin expenses
• Loans and advances – 2.8% growth for H1 FY 14
• Deposit growth – 8.3% growth for H1 FY 14
• CASA at 18%
• ROE (on annualized earnings) – 6.4%
• EPS – Q2 LKR 2.24 / H1 – LKR 4.48/  Annualized LKR 8.96
• NAVS – LKR 140.31
• PER –14x
• PBV –0.9x


NATIONAL DEVELOPMENT BANK (NDB)

• For Q3, NDB reported a bottom line of LKR 905mn (+32.4% YoY)
• For 9M FY 13, reported bottom line LKR 2.2bn (+8.5% YoY)
• Rise in profitability is attributable to rise in core income, fee based income and trading gains
• Loans and advances – 6% growth for 9M FY 13
• Deposit growth – 10% growth for 9M FY 13
• CASA has fallen to 21% from 24%  
• Gross NPLs have risen to 2% from 1.3% during the 9 months
• ROE (on annualized earnings) – 17.8%
• EPS – Q3 LKR 5.42 / 9M – LKR 13.34/  Annualized LKR 18.28
• NAVS – LKR 150.32
• PER –8.2x
• PBV – 1x


AITKEN SPENCE HOTEL HOLDINGS PLC -AHUN

• Net revenue for Q2 FY 14 up 4% YoY to LKR 2.7bn
o SL sector –LKR 722.4mn (+24% YoY)
o South Asian sector – LKR 2.1bn (+7% YoY)
• Gross profit up 6% YoY to LKR 2.2bn
• Staff costs down 2% YoY to LKR 410.1mn
• Other operating expenses up 9% YoY to LKR 1.05bn
• EBIT up 16% YoY to LKR 572.1mn
• Profit to Equity holders up 37% YoY to LKR 311.7mn
• TTM EPS – LKR 5.78
• NAV per share – LKR 39.01
• PER (based on TTM EPS)- 11.8x
• PBV- 1.8x
• Sector PER- 49.5x
• Sector PBV-3.1x


CEYLON HOSPITALS PLC (DURDANS) (CHL)

• Revenue for Q FY 2014 increased 6% YOY to LKR 1 bn.
• GP increased by 7% YOY to LKR 576 mn
• GP margin for the quarter remained flat YoY at 57%
• EBIT grew by 8.6% YOY to LKR 126 mn
• Profit after tax increased 23% YOY to LKR 69 mn.
• Trailing EPS – LKR 8.00
• NAV per share – LKR 76.86
• PER – 13.3x
• PBV – 1.4x
• Sector PER – 28.48x
• Sector PBV – 1.6x


ELPITIYA PLANTATIONS PLC (ELPL)

• For Q2 2014 revenue decreased 12% YoY to LKR 666mn.
• Tea sector accounted for 72% of revenue.
• Rubber sector accounted for 11% of revenue.
• Oil Palm accounted for 15% of revenue
• During Q2 2014 gross profit declined 41% YoY to LKR 155 mn.
• GP margin declined to 20% from 25% in the corresponding quarter last year.
• Net profit was down 20% YOY to LKR 100mn.
• TTM EPS – LKR 3.81
• NAV per share- LKR 35.77
• PER – 4.2x
• PBV- 0.4x
• Sector PER- 6.8x
• Sector PBV- 0.73x
Source: BRS Research

http://sharemarket-srilanka.blogspot.co.uk/

lakymahesh


Senior Equity Analytic
Senior Equity Analytic
thanx...
HNB.X is looking attracting at this price . . . Very Happy 

sriranga

sriranga
Co-Admin
PAN ASIA BANK (PABC)

·  For Q3, PABC reported a bottom line of LKR 29mn (-85% YoY)
·  For 9M FY 13, reported bottom line LKR 191mn (-66% YoY)
·  Increase in impairment on account of pawning advances, is the main reason for sharp decline in profitability
·  Core net interest income growth for Q3 – flat / 9M FY 13 – modest 11% growth
·  NIMs have come down from 4.7% to 4.2%
·  Annualized ROE 6.2%
·  NPLs have doubled during the nine months – Gross NPL increased to 9% from previous 4%
·  Loan book growth – 4% to LKR 44bn
·  Deposit growth – 9% to LKR 52bn
·  CASA has improved to 18% from previous 17%
·  EPS – Q3 LKR 0.10 / 9M – LKR 0.65/ Annualized LKR 0.86
·  NAVS – LKR 13.99
·  PER –18x
·  PBV – 1.1x


ANILANA HOTELS AND PROPERTIES LIMITED (ALHP)

·  Revenue for Q2 FY 14 LKR 45.9mn
·  Gross profit at LKR 28.5mn
·  GP margin- 62%
·  Admin and distribution expenses – LKR 150.0mn
·  Loss from operating activities LKR 121.4mn
·  Net finance costs LKR 96mn
·  Loss after tax LKR 218.2mn
·  Debt to Equity as at Q2 FY 14- ~52%
·  NAV per share- LKR 8.3
·  PBV- 1.0x


LANKA MILK FOODS PLC (LMF)

·  For Q2 FY 14 revenue up marginally 0.7% to LKR 1.5bn
·  Cost of sales has increased by 8.7%
·  Gross Profit has declined by 38.3% to LKR 153.6mn
·  GP margin 10.4% ( GP margin Q2 FY 13- 17.1%)
·  Results from operating activities has declined by 79.5% to LKR 32.5mn
·  EBIT margin at 2.2%
·  Loss for the quarter – LKR 3.6mn
·  EPS for 6 months – LKR 2.06
·  NAV per share- LKR 234.38
·  PER – 22.0x
·  PBV- 0.47x
·  Sector PER- 21.0x
·  Sector PBV-6.1x
Source: BRS Research

http://sharemarket-srilanka.blogspot.co.uk/

17Quarterly Earnings (ending 30/09/2013) at a glance Empty Corporate Results Update Mon Nov 25, 2013 3:42 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Asian Alliance Insurance (ALLI) reported a net profit of Rs. 79 m for 2Q14 (down 49% YoY), resulting in a net profit of Rs. 144 m for 1H14 (down 38% YoY).

Cargills (Ceylon) (CARG) reported a net profit of Rs. 50 m for 2Q14 (down 39% YoY), resulting in a net profit of Rs.171mn for 1H14 (down 48% YoY).

C T Holdings (CTHR) reported a net profit of Rs.27 m for 2Q14 (down 8% YoY), resulting in a net profit of Rs. 116 m for 1H14 (down 67% YoY).

J.L. Morison Son & Jones (Ceylon) (MORI) reported a net profit of Rs. 50 m for 2Q14 (up 30% YoY), resulting in a net profit of Rs. 80 m for 1H14 (up 22% YoY).

Softlogic Holdings (SHL) reported a net profit of Rs. 54 m for 2Q14 (vs. a net loss of -Rs. 206 m for 2Q14), resulting in a net profit of Rs. 93 m for 1H14 (vs. a net loss of -Rs.178 m for 1H13).

PC House (PCH) reported a net loss of -Rs. 338 m for 2Q14 (vs. a net loss of -Rs. 5 m in 2Q13), resulting in a net loss of -Rs. 497 m for 1H14 (vs. a net loss of -Rs. 3 m for 1H13).

Orient Garments (OGL) reported a net loss of -Rs. 144 m for 1H14 (vs. a net loss of -Rs. 23 m for 1H13).

Agalawatte Plantations (AGAL) reported a net profit of Rs.15mn in 3Q2013 (vs. a net loss of -Rs.190mn in 3Q2012), resulting in a net loss of -Rs.81mn for 1-3Q2013 (vs. a net loss of –Rs.149mn for 1-3Q2012).

Kotmale Holdings (LAMB) reported a net profit of Rs. 10 m for 2Q14 (down 41% YoY), resulting in a net profit of Rs. 30 m for 1H14 (down 31% YoY).

Lanka Milk Foods (CWE) (LMF) reported a net loss of -Rs. 3 m for 2Q14 (vs. a net profit of Rs. 132 m in 2Q14), resulting in a net profit of Rs. 82 m for 1H14. (vs a net profit of Rs. 166 m in 1H13).

Pan Asia Banking Corporation (PABC) reported a net profit of Rs. 29 m for 3Q2013 (down 85% YoY), resulting in a net profit of Rs. 191 m for 1-3Q2013 (down 66% YoY).

The Finance Company (TFC) reported a net loss of -Rs. 388 m for 2Q14 (vs. a net loss of -Rs. 187 m in 2Q14), resulting in a net loss of Rs. 821 m for 1H14 (vs. a net loss of -Rs. 656 m for 1H13).

Kelani Cables (KCAB) reported a net profit of Rs .83 m for 2Q14 (up 45% YoY), resulting in a net profit of Rs. 130 m for 1H14 (up 11% YoY).

ACL Cables (ACL) reported a net profit of Rs. 102 m for 2Q14 (up 26% YoY), resulting in a net profit of Rs. 190 m for 1H14 (down 4% YoY).

Dunamis Capital (CSEC) reported a net loss of -Rs. 23 m for 2Q14 (vs. a net profit of Rs. 26 m for 2Q13), resulting in a net loss of -Rs.0.2 m for 1H14 (vs. a net profit of Rs. 10 m for 1H13).

Abans Electricals (ABAN) reported a net profit of Rs. 20 m for 2Q14 (down 60% YoY), resulting in a net profit of Rs. 49 m for 1H14 (down 17% YoY).
Source: CT Smith Stockbrokers
http://www.ft.lk/2013/11/25/corporate-results-update/

Backstage

Backstage
Moderator
Moderator
Asian Alliance Insurance (ALLI) reported a net profit of Rs. 79 m for 2Q14 (down 49% YoY), resulting in a net profit of Rs. 144 m for 1H14 (down 38% YoY).

Uh oh !

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Oh ooooh.

Asian Alliance Insurance is AAIC
ALLI is ALLIANCE FINANCE COMPANY .

Anyway ALLI this quarter took Rs 30 mil hit on trading , and a bigger tax allocation than last year Not bad it show in the eps due to lower number of issued shares. A Finance company trading below NAV ;-) Only a very few such exiting.






@Backstage wrote:Asian Alliance Insurance (ALLI) reported a net profit of Rs. 79 m for 2Q14 (down 49% YoY), resulting in a net profit of Rs. 144 m for 1H14 (down 38% YoY).

Uh oh !

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