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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Free Lanka Capital Holdings record healthy profits

Free Lanka Capital Holdings record healthy profits

+3
mark
antxster
ishnet
7 posters

Go down  Message [Page 1 of 1]

ishnet

ishnet
Manager - Equity Analytics
Manager - Equity Analytics

Encouraged by the buoyancy of the economy, the relatively new Free Lanka Capital Holdings Ltd. has reported exceptional results in the year ended March 2011.

Recording a gross revenue of 6.5 billion rupees for the Group during the financial year 2010/11 as compared with Rs. 4.9 billion the previous year – a 33% increase, the Group's provisional financial results show a profit increase of over 300%. Profit before tax amounted to Rs. 1,374 million rupees in 2010/11 as against Rs. 341 million the previous year which is an increase of 303%. Profit after tax recorded a 319% increase year on year with the figure for 2010/11 at Rs. 1,270 million compared to Rs. 303 million in the earlier financial year.
http://www.ft.lk/2011/05/20/free-lanka-capital-holdings-record-healthy-profits/

antxster


Senior Equity Analytic
Senior Equity Analytic

If 300% profit. why is the price still at Rs 5.20? I sold 50,000 qty at Rs 5. I bought at Rs 5.70 and make my first loss. zZ
Can anyone explain?

mark

mark
Expert
Expert

http://www.cse.lk/cmt/upload_report_file/1048_1305185889765.pdf

*The Company's name was changed from "Free Lanka Plantation Holdings Co. (Pvt) Ltd" to "Free Lanka Capital Holdings (Pvt) Ltd" effective
from 30th August 2010. The Company was subsequently converted into a Public Limited Liability Company on 31st January 2011 under section
11(1) of the Companies Act No. 7 of 2007. Accordingly, the name of Free Lanka Capital Holdings (Pvt) Ltd has been changed to Free Lanka
Capital Holdings Ltd.
--actually this may be better to list under plantation sector,so if there is interest on plantation sector,this share may get some upturn

xhora

xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yes as main business of FLCH is more related to plantation sector it's better to use plantation PE to value this counter. So to me this worth at lease Rs.7

Plantation sector PE : 17
12 months EPS : 0.46

then 0.46 X 17 = 7.82

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

xhora wrote:Yes as main business of FLCH is more related to plantation sector it's better to use plantation PE to value this counter. So to me this worth at lease Rs.7

Plantation sector PE : 17
12 months EPS : 0.46

then 0.46 X 17 = 7.82

AS per 16-05-11 stock tracker report of NDB securities, plantation sector PE has been 8.28, so on ur suggestion if we value this;
8.28*0.46 = 3.8

The same report says Diversified is 24.92;
So 24.92*0.46 = 11.46

Now which one u'd prefer to follow?

xhora

xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

smallville wrote:
AS per 16-05-11 stock tracker report of NDB securities, plantation sector PE has been 8.28, so on ur suggestion if we value this;
8.28*0.46 = 3.8

The same report says Diversified is 24.92;
So 24.92*0.46 = 11.46

Now which one u'd prefer to follow?

LoL Freedom of choice. Rep from me.

But consider this also
at 8.28 plantation PE our beloved KGAL will only worth
8.28 * 28.25 = 233.91 Oops.. pale
(Source : http://forum.srilankaequity.com/t1744-rich-namu-kgal-all-in-one-value-analysis?highlight=KGAL)

Now which one u'd prefer to follow?

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

xhora wrote:
smallville wrote:
AS per 16-05-11 stock tracker report of NDB securities, plantation sector PE has been 8.28, so on ur suggestion if we value this;
8.28*0.46 = 3.8

The same report says Diversified is 24.92;
So 24.92*0.46 = 11.46

Now which one u'd prefer to follow?

LoL Freedom of choice. Rep from me.

But consider this also
at 8.28 plantation PE our beloved KGAL will only worth
8.28 * 28.25 = 233.91 Oops.. pale
(Source : http://forum.srilankaequity.com/t1744-rich-namu-kgal-all-in-one-value-analysis?highlight=KGAL)

Now which one u'd prefer to follow?

Jeez.. that valuation was posted on March 12, when CSE announced plantation PE as 24.. Have you not seen its stated there as "Plantation Sector PE of 24.3;" Wink he hee.. Twisted Evil Even fair share valuation was given at a discount which is closer to CSE valuation of PLT PE as Still in CSE it says PLT PE = 17.50, broker valuation is based on cyclicality, risk, etc..
Also it was with the current earnings based..

Now I wonder why u wanna refer obsolete data rather than renewing it.. Twisted Evil
Have u seen me saying KGAL fair valuation is 250 recently, guess not Wink

factFINDER

factFINDER
Manager - Equity Analytics
Manager - Equity Analytics

mark wrote:http://www.cse.lk/cmt/upload_report_file/1048_1305185889765.pdf

*The Company's name was changed from "Free Lanka Plantation Holdings Co. (Pvt) Ltd" to "Free Lanka Capital Holdings (Pvt) Ltd" effective
from 30th August 2010. The Company was subsequently converted into a Public Limited Liability Company on 31st January 2011 under section
11(1) of the Companies Act No. 7 of 2007. Accordingly, the name of Free Lanka Capital Holdings (Pvt) Ltd has been changed to Free Lanka
Capital Holdings Ltd.
--actually this may be better to list under plantation sector,so if there is interest on plantation sector,this share may get some upturn

excectly Very Happy

Mr. Frodo

Mr. Frodo
Stock Analytic
Stock Analytic

Guys i just have one issue with this..
Since the P/E ratio is based on future earnings... and future expectancy is it fair to value FLCH on plantation PE alone..
As they are planning on building 2 Boutique hotels which is in the leisure sector and this has a very high P/E ratio and also there Energy sector which i presume has a high P/E ratio as well is it fair to value the present earnings of FLCH on the present plantation P/E ratio. Smile
please correct me if i m mistaken Smile

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Mr. Frodo wrote:Guys i just have one issue with this..
Since the P/E ratio is based on future earnings... and future expectancy is it fair to value FLCH on plantation PE alone..
As they are planning on building 2 Boutique hotels which is in the leisure sector and this has a very high P/E ratio and also there Energy sector which i presume has a high P/E ratio as well is it fair to value the present earnings of FLCH on the present plantation P/E ratio. Smile
please correct me if i m mistaken Smile

FLCH is a diversified company.. Although its 99% plantations, with their growth plans this will be changed.. So its safe to assume its a diversified holder..

xhora

xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

smallville wrote:Jeez.. that valuation was posted on March 12, when CSE announced plantation PE as 24.. Have you not seen its stated there as "Plantation Sector PE of 24.3;" Wink he hee.. Twisted Evil Even fair share valuation was given at a discount which is closer to CSE valuation of PLT PE as Still in CSE it says PLT PE = 17.50, broker valuation is based on cyclicality, risk, etc..
Also it was with the current earnings based..

Now I wonder why u wanna refer obsolete data rather than renewing it.. Twisted Evil
Have u seen me saying KGAL fair valuation is 250 recently, guess not Wink

Just wanted to show PE is open to interpretation. Just as I have taken Plantation PE as 17 someone would have taken it as 8.

P.S seriously hope KGAL worth at least 350/= because I bought it at 227/=

Mr. Frodo

Mr. Frodo
Stock Analytic
Stock Analytic

smallville wrote:
Mr. Frodo wrote:Guys i just have one issue with this..
Since the P/E ratio is based on future earnings... and future expectancy is it fair to value FLCH on plantation PE alone..
As they are planning on building 2 Boutique hotels which is in the leisure sector and this has a very high P/E ratio and also there Energy sector which i presume has a high P/E ratio as well is it fair to value the present earnings of FLCH on the present plantation P/E ratio. Smile
please correct me if i m mistaken Smile

FLCH is a diversified company.. Although its 99% plantations, with their growth plans this will be changed.. So its safe to assume its a diversified holder..

Thank you Smallville. So it is reasonable to assume that a P/E ratio higher than the current plantation sector could be applied. Assuming a minimum PE ratio of 15.. shouldnt it be trading at around 6 at least... thanks in advance!

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