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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » L B FINANCE PLC (LFIN.N0000)

L B FINANCE PLC (LFIN.N0000)

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51L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Wed Mar 23, 2011 1:00 pm

StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Finally I sold my stake around Rs. 190. Was able to book some handsome profit. I am drawing my attention to LOLC now. It also has the same potential as LFIN and CFIN althogh they have recently diversified from thier core business area of leasing.

52L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Thu Mar 24, 2011 6:57 am

smallville


Associate Director - Equity Analytics
Associate Director - Equity Analytics
It could be Strange... but may be a Rs.2.50/- dividend could be on the way?

53L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Fri Mar 25, 2011 10:18 am

StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Now we can ask the question why price is going down? What do you guys think, is it good option to re-enter around 160, if it ever goes to this level again?

54L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Fri Mar 25, 2011 12:03 pm

manike100


Equity Analytic
Equity Analytic
@StocksWatch wrote:Now we can ask the question why price is going down? What do you guys think, is it good option to re-enter around 160, if it ever goes to this level again?

Unfortunately I don't have a proper answer to "why price is going down?" .
but now we will be able to understand why it went up.. (http://www.cse.lk/cmt/upload_cse_announcements/4681301029955_.pdf)
1,386,500 shares has been collected by RCL(Royal Ceramic)

anyway this would help you to decide whether it is worth or not @160

55L B FINANCE PLC (LFIN.N0000) - Page 3 Empty L B FINANCE PLC (LFIN.N0000) Mon Aug 03, 2015 9:44 am

Prince


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Has anybody done a revaluation for LFIN ??  Please share .

56L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Mon Aug 03, 2015 3:04 pm

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Quarterly Financial Results :

Profit for the Quarter 31/03/2015  - Mn 629
Profit for the Quarter 30/06/2015  - Mn 776

Growth - 23 %

EPS for the Quarter  -  Rs 5.60

EPS annualised  -  Rs 22.40

That is better than COMB , DFCC , NTB . PABC , SEYB or UBC and almost equal to HNB ,NDB.

57L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Mon Aug 03, 2015 3:19 pm

Beta1

Beta1
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Prince wrote:Quarterly Financial Results :

Profit for the Quarter 31/03/2015  - Mn 629
Profit for the Quarter 30/06/2015  - Mn 776

Growth - 23 %

EPS for the Quarter  -  Rs 5.60

EPS annualised  -  Rs 22.40

That is better than COMB , DFCC , NTB . PABC , SEYB or UBC and almost equal to HNB ,NDB.
yes . one of the best share in CSE. long Term Target Rs. 300/=
short Term 150/

58L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 04, 2015 9:35 am

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
No Beta 1 , it cannot be 150/- ,

Here is the calculation of LFIN's fair value ,


 Q1
Q2
Q3
Q4
 EPS annualised
PER
Fair Value
method 1
5.65.65.65.622.47.9176.96
method 2
5.65.886.176.4824.137.9190.627
Method 1 - Constant EPS in all four quarters.

Method 2 - a (5%) Growth in EPS Q by Q

So the least Fair value is Rs 176/- which I recon as a " Under Valuation ".




So the short term is not Rs 150/- but Rs 175/-


Long term I agree with you.

59L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 04, 2015 5:11 pm

EPS

EPS
Expert
Expert
@Prince wrote:No Beta 1 , it cannot be 150/- ,

Here is the calculation of LFIN's fair value ,


 Q1
Q2
Q3
Q4
 EPS annualised
PER
Fair Value
method 1
5.65.65.65.622.47.9176.96
method 2
5.65.886.176.4824.137.9190.627
Method 1 - Constant EPS in all four quarters.

Method 2 - a (5%) Growth in EPS Q by Q

So the least Fair value is Rs 176/- which I recon as a " Under Valuation ".




So the short term is not Rs 150/- but Rs 175/-


Long term I agree with you.


Above is wrong.
Q1 eps CALCULATED with 66 Mn (before split) shares
Q2 EPS to be calculated with 132 Mn shares..

60L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 04, 2015 5:14 pm

EPS

EPS
Expert
Expert
LFIN by 31.03.2016 will trade at Rs.200/-

61L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 04, 2015 5:44 pm

chamil1


Manager - Equity Analytics
Manager - Equity Analytics
@EPS wrote:LFIN by 31.03.2016 will trade at Rs.200/-

You said PARQ will be 100-120

Can you tell by when pls

62L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 04, 2015 5:49 pm

kumarweerarathne

kumarweerarathne
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@EPS q2 eps is readymade calculated using after split data 775(profit)/138mn

63L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Wed Aug 05, 2015 11:05 am

nis2010


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
LFIN moving smoothly. day by day it's moving  cheers cheers cheers cheers cheers

64L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Wed Aug 05, 2015 11:38 am

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
It was foreign buying yesterday if you checked with. More than 220,000/- shares.

65L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Wed Aug 05, 2015 12:34 pm

EPS

EPS
Expert
Expert
Expecting EPS for 2015/16 is 20 minimum. (after split share qty).
x 10 PER possible valuation is Rs.200/-

66L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Fri Aug 07, 2015 11:26 am

nis2010


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
what's happening to LFIN

67L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Mon Aug 10, 2015 11:21 am

nis2010


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Lfin coming down slowly day by day. anyone knows the reason ?? scratch scratch scratch scratch

68L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Mon Aug 10, 2015 6:37 pm

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
LFIn is in a accumilation stage. If I red the MACD & Bollinger Bands correctly another two days the same process will happen and then we'll see the next maturity phase of the LFIN which has two remarkable points at Rs 145 /-  and  Rs 160/- .

69L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Mon Aug 10, 2015 8:26 pm

Aubrey Perera


Vice President - Equity Analytics
Vice President - Equity Analytics
Correct even my target is 145 GL

70L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 1:58 am

nis2010


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Aubrey Perera wrote:Correct even my target is 145 GL
that mean after reach 145 it will pull back ?????

71L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 5:30 am

Teller

Teller
Moderator
Moderator
http://goldprice.org/spot-gold.html
world gold prices down by 16% so far with in a year , in that scenario the companies one of major advances possible be at a risk. Still need to study.


_________________




Teller said is said..

72L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 8:45 am

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@nis2010 wrote:
@Aubrey Perera wrote:Correct even my target is 145 GL
that mean after reach 145 it will pull back ?????


Not that it will pull back from 145/= .


The phase which the counter will take to pass the Rs 145/=  and 160/= will determine whether it will reach Rs 200/= this year or not.

Free-cash balance will certainly push the company's EPS to a better than COMB /  HNB / SEYB figure in  2015-2016 FY.

Gold price drop will not make a hit on profitability as company just passed the 1st  Quarter of the financial year and also the core business of the company is Leasing.

Predicted annualized EPS is 20/= ( minimum)  , sector PE ratio is 10.5 .

Fair value =  20 X 10.5 = Rs 210/=

Also keep in mind that company might make a presence in "MYANMAR" in late 2016 FY for micro financing as many Banks & Finance from Sri Lanka just make an entrance.

73L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 9:21 am

nis2010


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Prince wrote:
@nis2010 wrote:
@Aubrey Perera wrote:Correct even my target is 145 GL
that mean after reach 145 it will pull back ?????


Not that it will pull back from 145/= .


The phase which the counter will take to pass the Rs 145/=  and 160/= will determine whether it will reach Rs 200/= this year or not.

Free-cash balance will certainly push the company's EPS to a better than COMB /  HNB / SEYB figure in  2015-2016 FY.

Gold price drop will not make a hit on profitability as company just passed the 1st  Quarter of the financial year and also the core business of the company is Leasing.

Predicted annualized EPS is 20/= ( minimum)  , sector PE ratio is 10.5 .

Fair value =  20 X 10.5 = Rs 210/=

Also keep in mind that company might make a presence in "MYANMAR" in late 2016 FY for micro financing as many Banks & Finance from Sri Lanka just make an entrance.
thank you prince for your explanation

74L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 11:41 am

Aubrey Perera


Vice President - Equity Analytics
Vice President - Equity Analytics
when it moves it moves. GL

75L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 12:08 pm

nis2010


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
cheers cheers cheers cheers cheers cheers cheers
@Aubrey Perera wrote:when it moves it moves. GL

76L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 10:34 pm

ONTHEMONEY


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi Guys,

Please assess LFIN's potential;

SecurityIDNameTypeDescriptionProportionDividend
(Rs)
QuarterAnnounced
date
Price prior to
Anno.dt
Current/EX
Price
Price
Change
EX DatePayment
date
 
LFINN0000LB FinanceDDividend1.00Interim21-Mar-200683.0085.002.0030-Mar-200612-Apr
LFINN0000LB FinanceBBonus2 for 5  15-Aug-200679.7552.25-27.5009-Oct-2006 
LFINN0000LB FinanceRRights1 for 2 @17.00  19-Sep-200741.5025.00-16.5028-Nov-2007 
LFINN0000LB FinanceDDividend2.251st & Final02-Jun-200822.7519.25-3.5029-Jul-200804-Aug
LFINN0000LB FinanceRRights1 for 7 @17.00  02-Jun-200822.7519.25-3.5029-Jul-2008 
LFINN0000LB FinanceDDividend3.001st & Final26-May-200922.5036.0013.5001-Jul-200910-Jul
LFINN0000LB FinanceDDividend5.00Interim29-Apr-201094.2588.00-6.2507-May-201018-May
LFINN0000LB FinanceBBonus1 for 1  12-Jan-2011309.40147.10-162.3007-Mar-2011 View
LFINN0000LB FinanceDDividend3.501st & Final08-Jun-2011185.00175.80-9.2001-Jul-201107-Jul
LFINN0000LB FinanceDDividend5.001st & Final08-Jun-2012100.00121.2021.2002-Jul-201209-Jul
LFINN0000LB FinanceDDividend6.501st & Final03-Jun-2013129.90123.00-6.9001-Jul-201309-Jul
LFINN0000LB FinanceDDividend6.501st & Final02-Jun-2014116.00123.807.8001-Jul-201409-Jul
LFINN0000LB FinanceDDividend10.001st & Final22-May-2015202.00224.6022.6002-Jul-201510-Jul
LFINN0000LB FinanceSSub-Division1 INTO 2  20-May-2015185.90226.6040.7009-Jul-2015 
LFIN has gradually increased its Dividend payout ratio during the history and EPS is Rs 5.6 for 1Q 2015.(Annualized - Rs 22.4). Hence the PE is 6.0 times.

Therefore if we calculate the expected market value of LFIN @ following PE levels;

Market PE @ 8         = Rs 179.2
Market PE @10       = Rs 224.0
Sector PE @ 12.93  = Rs 289.63

Therefore in the worse case any investor would be in the safe side since it is trading at a PE of 6 times. 

Further LFIN maintaining a diversified portfolio of business. It contains Leasing/hire purchase, Islamic Financing, Mortgage Loans, Factoring, Micro Finance, Pawning, Margin Trading, etc. Also recently company has introduced an innovative product to capture an untapped market of informal money lenders @ a lower rate. I guess this would bombard the market @ lower rate compared to informal lenders with aggressive marketing strategies of LFIN coupled with riders recoveries at business points. This is first time a bank or a finance company approached this market.

Company has made losses with Gold pawning business during 2012. However company now have diversified its portfolio to minimize the risk. Currently LFIN concentrates only 8%-10% on pawning business out of their total advances portfolio. Hence diminishing Gold rate in global market is less impact-full compared to 2012. Further global gold rates are at the rock /bottom since 1970. 

Further LFIN main business is leasing. During 2014, the imports of electric hybrid vehicles to Sri Lanka accelerated by 175% in terms of volume and 223% in terms of value. Reduction of duties for hybrid electric vehicles during 2014 was the reason for this boom. Japan is the major import source ofhybrid electric motor cars to Sri Lanka accounting for more than 95% of the market followed by Germany.


Hybrid Vehicles imports during 2010-2014(Source - Chamber of Commerce)

 
Year Volume(No)  Value(Rs/Mn) 
2010            438.00                                   980.00
2011        5,927.00         14,440.00
2012        1,943.00                                5,439.00
2013        9,707.00         20,430.00
201426,729.00         66,004.00
This indicates the potential of the business and the trends for demand for hybrid vehicles has continues in 2015 as well.

Therefore considering the above facts I would like to recommend LFIN as a highly undervalue counter with high potential. Many investment funds, corporate investors eye as a medium/Long term investment due to its earnings potential and Dividend Yield . 

In my purview LFIN would be the next SDB....!

Happy Investments

77L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Tue Aug 11, 2015 11:14 pm

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Good time ahead Very Happy

78L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Thu Aug 20, 2015 9:50 pm

ONTHEMONEY


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi Guys,

World Gold prices have risen recently. Good news for Banking and Finance industry,

http://www.kitco.com/charts/livegold.html
http://www.nasdaq.com/markets/gold.aspx

Happy Investments

79L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Sat Aug 22, 2015 12:01 am

bullseye

bullseye
Manager - Equity Analytics
Manager - Equity Analytics
LFIN is gng down.. today price was around 128.5 

fallen from 134 to 128

80L B FINANCE PLC (LFIN.N0000) - Page 3 Empty Re: L B FINANCE PLC (LFIN.N0000) Sat Aug 22, 2015 9:13 am

ONTHEMONEY


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi guys,

Investments in stocks does not earn within a days, , months. We have to consider the value based on the current earnings, future earnings potential, external factors, quality of management, historical performance and many other criteria that could influence e financial statements. For example poultry sector is performing well and counter attractions is high. However during last couple of years no body worried to even buy or promote. Bit today it is a different story.

We have invest in stocks when everyone is rejecting. We have to sell when everyone following.That is the basic theory in investing stocks.

Hence price movement downward creates more opportunities to eaen more. Downward percentage based collection tactical method is something I adopt. No one has a perfect method in investing and we have our own methods to succeed. Many seniors in this forum follows different methods unique to them.

Happy Investments

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