HAYLEYS FABRIC PLC (MGT.N0000)

There were some mini crossings happening behind the scene in last days. 
Watch out. High possibility for move on. 

Thanks Mr.T2n......

Usually MGT price is moving very slowly but not getting down. very solid. What is your observation?

MGT is running in full capacity to match the export demand. So there would be a solid return in Q3.
It will easily pass 32+..

yeh
MGT heated and start moving .......

Yesterday good collection. Heading towards 30

MGT pass 30 predict under full discount mode considering  latest Financials.

Following EXPO

What will be the short-run price pls

Julie wrote:What will be the short-run price pls

Target price from broker firms is 40 for this year.

RJ1010 wrote:

Julie wrote:What will be the short-run price pls

Target price from broker firms is 40 for this year.

Ok cool

Trade Receivables as of 30 Sep 2020 is USD13Mn. 

Average USD rate for Q3 is 185 and Closing rate is around 187. MGT will earn around  LKR 25/30Mn exchange gain which is 0.12 addition to EPS (6 month EPS LKR 1.48)

In Q4 these export companies will have huge Foreign Currency translation gain and higher revenue due to depreciated LKR.

Julie wrote:

RJ1010 wrote:

Julie wrote:What will be the short-run price pls

Target price from broker firms is 40 for this year.

Ok cool

Original target price of MGT was Rs40/ without considering the subdivision. MGT should trade around Rs45/ levels by now with the pending subdivision & expected improved profits for Dec & March quarters

Given the rerating of the apparel sector with the HELA IPO, MGT will run very soon as it currently has the lowest PE compared to HELA and TJL

Hayleys Fabric looks to move to higher-end textile manufacturing

Despite the slowdown in the global apparel sector, Sri Lanka’s first textile manufacturer Hayleys Fabric said it is looking to increase its focus on value addition by moving to the higher-end of textile manufacturing.

The company said it remains on high alert to respond to potential threats while pursuing its growth strategy focused on the synthetic fabric portfolio.

“Sri Lanka’s economic crises and the resultant political instability have blurred the outlook for the country.
Sri Lankans have remained resilient throughout history with the ability to navigate past the rapids to calmer waters and will unite to set the country on the road to recovery,” said Hayleys Fabric Group Chairman A.M. Pandithage in the company’s latest annual report.

The chief shared that with increased production capacity and full order books, the year ahead is looking positive. “Our employees have been cooperative and supportive, understanding that we need to work together to move past the present storm. The same discipline and multistakeholder-driven approach that supported the phenomenal growth delivered this year will be key to moving past the crisis,” he added.

While the present local economic scenario looks grim, Hayleys Fabric Group Managing Director and CEO E.R.P. Goonetilleke said there is hope and potential to brave through the turmoil.

“When looking at the geopolitics, where there is a distribution of sourcing destinations, which was predominantly Chinese, the outlook for Sri Lanka is good,” said Goonetilleke in his message in the 2021/2022 annual report.