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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » NATION LANKA FINANCE PLC (CSF.N0000)

NATION LANKA FINANCE PLC (CSF.N0000)

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176NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty NATION LANKA FINANCE PLC (CSF.N0000) Tue Jul 26, 2016 11:28 pm

EquityChamp


Moderator
Moderator

Nation Lanka, hammered with impairments and deposit withdrawals following Golden key saga, is recovering slowly yet steadily. Their new business model has earned them a fantastic interest yield with a huge loan book growth. As some of you may aware now Nation Lanka has entered into the lucrative micro finance business and join hands with COCR, BIL and LOFC.

Just a summary of key financials with a conservative estimate for FY 2016/17 is given below.







Rs mn2014/15 A2015/16 A2016/17 F
Loans & Advances43895608          7,080
Growth in loans & advances64%28%26%
Interest income11652087          2,780
Growth in interest income29%79%33%
Interest yield33%42%44%
NPAT-429162              222
According to the above table you may seen the double digit growth in loans and advances with an interest yield of over 40%, a mark achieved by none other than BLI. You may recall my thread on benchmarking finance sector stocks where I showed BLI earning an interest yield of over 48% where as majority of other finance companies just generate a yield around 20%-25%. So in that sense you can get an idea as to how Nation Lanka will do in the future.

The above PAT was estimated based on very conservative assumptions of loan book growth and PAT margins yet they can generate an EPS of 30 cents for the next financial year which translates to a PE of 6x at the closing price of Rs1.8 but still trading at a discount to the industry PE benchmark. NAV tyrned to positive 1 in 15/16 from a negative 1 in 14/15.

So within 2 to 3  years this company generating a profit in excess of half a billion so that the price should reach Rs5/- which means a lucrative medium term investment for you.

Do your own analysis also to take an informed decision.

Thanks

177NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:07 am

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

I have analyse last two quarter financial report.

I feel they will produce 10-20 Cents for this quarter.

this is my Idea....

Bcz last quarter they made 8 Cents. I expect this time over 10 cents and bellow 20 cents.

maybe that is practical......

178NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:13 am

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

EC meka tawa godak yanna puluwanda??malanga poddak tiyanawa.mokakda karanna one?any idea?

179NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 5:18 am

EquityChamp


Moderator
Moderator

hiransilva23 wrote:EC meka tawa godak yanna puluwanda??malanga poddak tiyanawa.mokakda karanna one?any idea?

Keep what you have. And if possible try to buy some possibly below 1.90 level.

180NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 7:04 am

EquityChamp


Moderator
Moderator

The below is how the technical charts look like as of now. Technical charts indicates BUY and moving averages indicates Strong BUY. But better to have caution as well since RSIs shot up to 80 levels due to this weeks heat up. It is possible to break the psychological barrier of 2/- today but better to wait if you are unable to grab some below 1.90. In terms of financials the share is worth to have a mid term to long term bull run so keep that in mind as well specially when the share price declines.
NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Nation10

181NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 9:31 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

So within 2 to 3  years this company generating a profit in excess of half a billion so that the price should reach Rs5/- which means a lucrative medium term investment for you.

I do not agree with this affraid

I need to know remaining impairment amounts they have to consider in next accounts.

If their impairment burden is mostly gone by now then the story will be much brighter in future.

If no impairments their Earnings per Share was about 83 cents without tax  for 2015/16 Y/Y .

Hence  my targets go to much upper ranges and it should reach  5 more fast. (low impairment assumed)

182NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 9:56 am

Teller

Teller
Moderator
Moderator

How ever it take to another 4-5 years to remove retained losses from their balance sheet. If they can earn 200 million per annum with in 5 years losses will be zero . how ever they can accelerate their earnings easily as more than 5 billion loans and advances.
In that scenario it can touch easily 7.50 - 8 rupees.
For the short run 2.30 to 2.50 possible.

183NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 10:20 am

EquityChamp

EquityChamp
Moderator
Moderator

As predicted the psycological barrier of 2/- broken with great power. Seems like this run has a greator power than I thought. Anyway holders to keep your holdings tight. New commers to wait till the heat get reduced.

184NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 10:47 am

NZ BOY

NZ BOY
Moderator
Moderator

My target 2.50 to 2.80 in this short term run

185NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 11:00 am

sharemarket

sharemarket
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

NZ BOY wrote:My target 2.50 to 2.80 in this short term run
RSI Very high wait & see.....

186NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 11:07 am

kassachandimal


Manager - Equity Analytics
Manager - Equity Analytics

EC is it good to grab some CSF @ 2 for short term ?

187NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 11:18 am

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Nz boy kiyana ganan target gana wadiya hitanna epa.e ganan walata yanne na.eya godak ewata target dunna.profit nam exit wena eka hondai wage.

188NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 11:47 am

NZ BOY

NZ BOY
Moderator
Moderator

hiransilva23 wrote:Nz boy kiyana ganan target gana wadiya hitanna epa.e ganan walata yanne na.eya godak ewata target dunna.profit nam exit wena eka hondai wage.
Davasin 2 n Shares up venna meka Casino neme

189NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 11:48 am

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Very Happy Very Happy

190NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:03 pm

EquityChamp

EquityChamp
Moderator
Moderator

kassachandimal wrote:EC is it good to grab some CSF @ 2 for short term ?

Try below 1.90. My ideal target was to 1.5 or below but this one jumped up suddnely.

191NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:09 pm

kassachandimal


Manager - Equity Analytics
Manager - Equity Analytics

Thanks EC

192NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:15 pm

NZ BOY

NZ BOY
Moderator
Moderator

Im trying to buy 1.70 -1.80 good chance to buy now

193NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:22 pm

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Be careful

194NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:42 pm

gayanath1983

gayanath1983
Vice President - Equity Analytics
Vice President - Equity Analytics

yes seems like game over

195NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:42 pm

gayanath1983

gayanath1983
Vice President - Equity Analytics
Vice President - Equity Analytics

my prediction was wrong...

196NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 12:47 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

gayanath1983 wrote:my prediction was wrong...


maybe some one sold at 2.0 level continues selling. if not your target is reachable.

13 Million traded that is enough to reach 2.3  but its fail. maybe we have a chance to collect at lower

197NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 2:34 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

EquityChamp wrote:As predicted the psycological barrier of 2/- broken with great power. Seems like this run has a greator power than I thought. Anyway holders to keep your holdings tight. Newcomers to wait till the heat get reduced.

මේක ගන්න  අය බයින් ප්‍රෙශර් එක පෙන්වන්නෙ නැතුව හෙමින් හෙමින් පොඩි ගොඩවල් වලින්  එකතු කරගෙන ගියා වෙන්න පුලුවන්. නමුත් 1.90 පන්නනකොට හියර් එක මාරු කරල ඔක්කොමලා ලොකු ගොඩවල් ගන්න පටන් ගත්ත​.

ඇත්තම කියනව නම් මේක දීර්ඝ කාලීනව ගන්න අයට 1.40 ද 2.00 ද 2.50 ද කියන එක ගැන වැඩිය හිතල වැඩක් නෑ. ඒ අය ටාගට් කරන්න ඕන ​50%, 100% නොවේ ඊට වඩා වැඩි දෙයක්.  

එනමුත් පන්නගෙන යන්නෙ නැතුව අඩු උනාම​ ගන්න තරමට රිස්ක් එක අඩුයි.

198NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Wed Jul 27, 2016 2:51 pm

EquityChamp

EquityChamp
Moderator
Moderator

Trust I have spoke enough of CSF and you all have saw the support provided @ 2/-. So finally CSF may see stabilising on a new support level.

199NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 7:19 am

EquityChamp

EquityChamp
Moderator
Moderator

Still the buying interest is intact according to charts. The stock still at overbought situation.
NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Nation11

200NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 7:47 am

troy

troy
Moderator
Moderator

i think its good to enter now @ 1.80 1.90 level. can achieve 10% by day trading even.

201NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 12:26 pm

NZ BOY

NZ BOY
Moderator
Moderator

Good price to enter

202NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 9:07 pm

Teller

Teller
Moderator
Moderator

CSF technically will drop to 1.50 levels. How ever 1.60 also good buy.

203NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 9:43 pm

stockboy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

never if it comes to 1.7 one buyer is waiting for buy 20 m shares

204NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 9:53 pm

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Csf 1.20 ta 1.30 weli weli tibuna.eth kagewat loku intrest ekak tibune na.passe 2.10 tat giya.dan amaruwen 1.70ta 1.80 ganna hadanawa.mewa eka para wadi wenne kauru hari meka pitipasse inna nisane.meka honda wennat hexp honda nati wennat reason ekak kauru hari pahadili karanawada?me dekama honda stock 2k neda???

205NATION LANKA FINANCE PLC (CSF.N0000) - Page 8 Empty Re: NATION LANKA FINANCE PLC (CSF.N0000) Fri Jul 29, 2016 10:47 pm

EquityChamp

EquityChamp
Moderator
Moderator

This depends on how you see a particular stock. if you analyse the past performance of the stock and how they are doing now then you can take a relatively measured view on any stock. If you put a heavy weight on future expectations regardless of what the company is doing now then you end up with a complete different picture.

Hayleys fibre recorded a continues decline in their revenue over tha past many years to date and the most worrying point is the revenue is still declining. Their main market segments are shrinking. Their profit margins are continue to come down meaning escalating cost.

Compared to Nation Lanka though two different industries, Nation Lanka experienced huge troubles with the Golden Key saga and they experienced loss of customer deposits, decline in the value of land portfolios, debtor writeoffs, etc. In 2014 and 2015 they went for two rights issues in serch of money to safeguard the lost capital due to many losses as above. In the FY 2015/16 they start producing profits with a growth quarterly. The interest income has gone up more than 50%. They have entered into the lucrative micro finance business too which yields them above average yields. On top of that their negative book value turned to positive. With this track record any investor can paint the future of this stock.

Therese are the main differences I can see in these two stocks.

In summary Hayleys Fibre shows a continuous decline in all key performance parameters up to now where as Nation Lanka once was nearing to bankruptcy have shown signs of recovery with a promising growth.

For your information I have positively written on the following stocks too. if you have time just search typing the company name.
Abans Electricals, Laxapana Batteries, TAFL, GRAN, BFL, Swisstek, Kelany tyres, ACL Cables, Kelani Cables, Stafford Hotels, Piguses Reef, Royal Ceramics, etc.

Thanks

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