PIRAMAL GLASS CEYLON PLC (GLAS.N0000)

100Bill · **876** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Fri Dec 11, 2020 7:32 pm

100Bill

Senior Equity Analytic

Posts : 94
Join date : 2020-05-21

With the latest deal, Blackstone will gain from Piramal Glass’ large clientele. Piramal Glass is a major supplier to companies including Coty, L'Oreal, Diageo, Pernod Ricard and Sanofi.

The company controls a majority market share in India and Sri Lanka, with expanding footprint in the US and Europe.

Piramal Glass is one of the four players globally to have type 1 pharma glass capabilities that is used for complex products like liquid injectable drugs, which saw a surge in demand during the coronavirus pandemic.

In the export markets, Piramal is number one globally in manufacturing and supplying nail polish glass (33% volume share) and is the number one in the US in specialty spirits bottles.
The global glass market targeted by Piramal Glass is estimated at $10 billion, growing at CAGR of 3%.
Glass manufacturing facilities are increasingly being shifted from high cost locations in Europe and the US to emerging markets such as India. Also, consumers are replacing plastic containers with recyclable glass bottles.
During fiscal 2020, Piramal Glass recorded a revenue of $293 million. Between FY2017 and FY2020, the company’s revenue grew at a CAGR of 5.3%, while EBITDA increased at a CAGR of 9.7%.

https://www.livemint.com/companies/news/blackstone-to-buy-piramal-glass-for-1-billion/amp-11607677639729.html

Fair value of the share 13.50 LKR....

Cheers..........

Eranga87 · **877** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Fri Dec 11, 2020 8:19 pm

Eranga87

Assistant Vice President - Equity Analytics

Posts : 746
Join date : 2020-01-27

In the beginning, they will buy back some of the shares for keeping the majority holding %. if they are going delist from the market, they must give valuable consideration which accepted by all shareholders. I remembered JINS delist CSEC from the market and paid 2.5 times into NAV.

i am not satisfied CAL simple share value calculation. ignore some important areas. I never heard this kind of valuation. anyway, RESEARCH firm same times change their TPs. next month they revised TPs. today, I again buy some of the shares at different prices.

better to keep and wait and see next month impressive financial. may be, dividends also will announce.

sanjulanka · **878** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Fri Dec 11, 2020 8:56 pm

sanjulanka

Assistant Vice President - Equity Analytics

Posts : 605
Join date : 2016-06-14

subash81 wrote:

Bakkabwoi wrote:කොළඹ කොටස් වෙළෙඳපොළේ ලැසිස්තුගත සමාගමක් වන Piramal Glass Ceylon PLC හි ප්‍රධාන කොටස්කරුවා වන Piramal Glass Pvt Ltd සමාගම තමන් සතු සම්පූර්ණ කොටස් හිමිකාරීත්වය ඉන්දියාවේ Pristine Glass Pvt Ltd වෙත අලෙවි කිරීමට ගිවිසුමකට එළඹ තිබේ.

Piramal Glass Ceylon PLC කොටස් 536,331,880 ක් හෙවත් 56.45% ක අයිතිය Piramal Glass Pvt Ltd සතුව පවතී.

ඉන්දියානු රුපියල් බිලියන 5.166කට මෙම ගනුදෙනුව සිදුකිරීමට නියමිත අතර එහිදී සමාගෙම් ණයගැතිභාවය, ශුද්ධ ණය, කාරක ප්‍රාග්ධන ගැළපීම් ආදිය මත පදනම්ව එම අගය තක්සේරුකිරීම සිදුකර තිබේ.

Piramal Glass Ceylon PLC හි ප්‍රධාන කොටස්කරුවන් අතර දෙවැනි හා තෙවැනි ස්ථානවලට පත්වෙමින් ප්‍රකාශිත කොටස් ප්‍රාග්ධනයෙන් 9.51% කට සේවක අර්ථසාධක අරමුදල හා 2.02%කට සේවා නියුක්තියන්ගේ භාරකාර අරමුදල පිළිවෙලින් හිමිකම් කියනු ලබයි.

මේ අතර ඇමරිකාවේ Blackstone ආයෝජන සමාගම විසින් ඉන්දියාවේ Piramal Glass සමාගම ඩොලර් බිලියන 1 ක මුදලකට අත්පත් කර ගැනීමට ගිවිසුම් අත්සන් කළ බව විදෙස් මාධ්‍ය අද (11) දින අනාවරණය කර සිටියේය.

stockback · **879** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 12:16 am

stockback

Senior Vice President - Equity Analytics

Posts : 2945
Join date : 2012-02-19

Bakkabwoi wrote:කොළඹ කොටස් වෙළෙඳපොළේ ලැසිස්තුගත සමාගමක් වන Piramal Glass Ceylon PLC හි ප්‍රධාන කොටස්කරුවා වන Piramal Glass Pvt Ltd සමාගම තමන් සතු සම්පූර්ණ කොටස් හිමිකාරීත්වය ඉන්දියාවේ Pristine Glass Pvt Ltd වෙත අලෙවි කිරීමට ගිවිසුමකට එළඹ තිබේ.

Piramal Glass Ceylon PLC කොටස් 536,331,880 ක් හෙවත් 56.45% ක අයිතිය Piramal Glass Pvt Ltd සතුව පවතී.

ඉන්දියානු රුපියල් බිලියන 5.166කට මෙම ගනුදෙනුව සිදුකිරීමට නියමිත අතර එහිදී සමාගෙම් ණයගැතිභාවය, ශුද්ධ ණය, කාරක ප්‍රාග්ධන ගැළපීම් ආදිය මත පදනම්ව එම අගය තක්සේරුකිරීම සිදුකර තිබේ.

Piramal Glass Ceylon PLC හි ප්‍රධාන කොටස්කරුවන් අතර දෙවැනි හා තෙවැනි ස්ථානවලට පත්වෙමින් ප්‍රකාශිත කොටස් ප්‍රාග්ධනයෙන් 9.51% කට සේවක අර්ථසාධක අරමුදල හා 2.02%කට සේවා නියුක්තියන්ගේ භාරකාර අරමුදල පිළිවෙලින් හිමිකම් කියනු ලබයි.

මේ අතර ඇමරිකාවේ Blackstone ආයෝජන සමාගම විසින් ඉන්දියාවේ Piramal Glass සමාගම ඩොලර් බිලියන 1 ක මුදලකට අත්පත් කර ගැනීමට ගිවිසුම් අත්සන් කළ බව විදෙස් මාධ්‍ය අද (11) දින අනාවරණය කර සිටියේය.

can you put link of this translation.

according to GLAS announcement, this is something different..

any ideas.

this is mislead....

Bakkabwoi · **880** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 12:19 am

Bakkabwoi

Senior Manager - Equity Analytics

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Join date : 2020-12-05

stockback wrote:

Bakkabwoi wrote:කොළඹ කොටස් වෙළෙඳපොළේ ලැසිස්තුගත සමාගමක් වන Piramal Glass Ceylon PLC හි ප්‍රධාන කොටස්කරුවා වන Piramal Glass Pvt Ltd සමාගම තමන් සතු සම්පූර්ණ කොටස් හිමිකාරීත්වය ඉන්දියාවේ Pristine Glass Pvt Ltd වෙත අලෙවි කිරීමට ගිවිසුමකට එළඹ තිබේ.

Piramal Glass Ceylon PLC කොටස් 536,331,880 ක් හෙවත් 56.45% ක අයිතිය Piramal Glass Pvt Ltd සතුව පවතී.

ඉන්දියානු රුපියල් බිලියන 5.166කට මෙම ගනුදෙනුව සිදුකිරීමට නියමිත අතර එහිදී සමාගෙම් ණයගැතිභාවය, ශුද්ධ ණය, කාරක ප්‍රාග්ධන ගැළපීම් ආදිය මත පදනම්ව එම අගය තක්සේරුකිරීම සිදුකර තිබේ.

Piramal Glass Ceylon PLC හි ප්‍රධාන කොටස්කරුවන් අතර දෙවැනි හා තෙවැනි ස්ථානවලට පත්වෙමින් ප්‍රකාශිත කොටස් ප්‍රාග්ධනයෙන් 9.51% කට සේවක අර්ථසාධක අරමුදල හා 2.02%කට සේවා නියුක්තියන්ගේ භාරකාර අරමුදල පිළිවෙලින් හිමිකම් කියනු ලබයි.

මේ අතර ඇමරිකාවේ Blackstone ආයෝජන සමාගම විසින් ඉන්දියාවේ Piramal Glass සමාගම ඩොලර් බිලියන 1 ක මුදලකට අත්පත් කර ගැනීමට ගිවිසුම් අත්සන් කළ බව විදෙස් මාධ්‍ය අද (11) දින අනාවරණය කර සිටියේය.

can you put link of this translation.

according to GLAS announcement, this is something different..

any ideas.

this is mislead....

Piramal Glass Ceylon PLC's largest shareholder Piramal Glass Pvt Ltd has entered into a share purchase agreement to sell its entire stake of 56.45% in the company to Pristine Glass Pvt Ltd.

In a Stock Exchange filing, Piramal Glass Ceylon PLC stated that the Board of Directors of the company has entered into a sale and purchase agreement with, inter alia Piramal Glass Pvt Ltd (seller) and Pristine Glass Pvt Ltd ( purchaser), a company duly incorporated under the laws of India for the sale and purchase of 536,331,880 shares (56.45%) being the entire equity held by the seller in the company.

The consideration for the transaction is to be calculated based on the enterprise value of the company of Indian Rupees 5.166 billion , the indebtedness of the company, the net debt of the company and a working capital adjustment to be computed, as agreed, as of the date of transfer of the glass manufacturing business of the seller in India.

same news at english version at ada derana

stockback · **881** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 12:20 am

stockback

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Glass news article

stockback · **882** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 12:26 am

stockback

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The consideration for the transaction is to be calculated based on the enterprise value of the company of Indian Rupees 5.166 billion

GLASS 950 Million stocks enterprice value is 5.166 BIllions (INR)

the indebtedness of the company, the net debt of the company and a working capital adjustment to be computed, as agreed, as of the date of transfer of the glass manufacturing business of the seller in India.

mata therena widiyata calculation eka iwara naha. base wechcha value eka re calculate wenawa transfer date ekata adalawa, dept, Wroking capital, indebtedness

any ideas...

Sinhala translation is giving diffrent idea. 56% stocks are transfer 5.166 Billions INR

Bakkabwoi · **883** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 12:30 am

Bakkabwoi

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stockback wrote:The consideration for the transaction is to be calculated based on the enterprise value of the company of Indian Rupees 5.166 billion

GLASS 950 Million stocks enterprice value is 5.166 BIllions (INR)

the indebtedness of the company, the net debt of the company and a working capital adjustment to be computed, as agreed, as of the date of transfer of the glass manufacturing business of the seller in India.

mata therena widiyata calculation eka iwara naha. base wechcha value eka re calculate wenawa transfer date ekata adalawa, dept, Wroking capital, indebtedness

any ideas...

Sinhala translation is giving diffrent idea. 56% stocks are transfer 5.166 Billions INR

yep..best to wait and see... i think they shall give us a good mandatory offer..that too we can refuse if we are not happy enough/ market value is higher.. by coming weeks they ll tell the proper estimation..it shouldnt be long..people who hold this stock will have some phenomenal gains...i could have day trade this today. but didnt wanna take this risk....

Eranga87 · **884** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 1:06 am

Eranga87

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Glas no.of share = 950,086,080

Enterprise Value (EV)

Market capitalization = 8,265,748,200

Total debt               = 3,227,815,000

Cash                       =   (174,750,000)

EV                          =11,318,813,200

EV of per share         =Rs.11.91

EV portion for Piramal = 6,389,470,051.40 (a)

Acquisition Enterprice

value consideration

purchase consideration= 5,166,000,000 INR

Conversion rate          = RS.2.52

SPA payment              = Rs.13,018,320,000 (b)

SPA PMT Times            = 2.03 times (a/b)

Piramal Pvt Ltd was received INR 5 billion on behalf of 536,331,880 no. of shares. they still not liable for the settlement of any debt. BLACKSTONE value the whole EV of SL Piramal Glas PLC and paid INR 5Billion for majority shareholder 56.45% Indian Piramal Pvt entity. considering this, BS paid 2.03 times enterprise value. that means, Rs.11.91*2.03 = Rs.24.27

kottuwa · **885** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 1:26 am

kottuwa

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Eranga87 wrote:Glas no.of share = 950,086,080

Enterprise Value (EV)

Market capitalization = 8,265,748,200

Total debt               = 3,227,815,000

Cash                       =   (174,750,000)

EV                          =11,318,813,200

EV of per share         =Rs.11.91

EV portion for Piramal = 6,389,470,051.40 (a)

Acquisition Enterprice

value consideration

purchase consideration= 5,166,000,000 INR

Conversion rate          = RS.2.52

SPA payment              = Rs.13,018,320,000 (b)

SPA PMT Times            = 2.03 times (a/b)

Piramal Pvt Ltd was received INR 5 billion on behalf of 536,331,880 no. of shares. they still not liable for the settlement of any debt. BLACKSTONE value the whole EV of SL Piramal Glas PLC and paid INR 5Billion for majority shareholder 56.45% Indian Piramal Pvt entity. considering this, BS paid 2.03 times enterprise value. that means, Rs.11.91*2.03 = Rs.24.27

here is the problem did piramal receive 5bn INR=13bnLKR?
or considering 13bn as a valuation out of that 13bn only 56%recieved from pristine to piramal india that is 7.28bn?

Eranga87 · **886** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 1:59 am

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@kottuwa,

Piramal glass pvt ltd right receive payment INR 5Bn for 56.45% shares (536Mn shares). not for all no.of shares. you think, if they are going to buy back shares, they should again pay SL shareholders valuable consideration. therefore, this SPA payment on behalf of the only Indian entity holding 56.45%.

simply, they paid USD 70Mn for an Indian entity holding shares 536Mn(56.45%). not too much amount as we consider the whole deal amount. deal amount USD 1 Bn, SL capacity 300 tons per day. total tons 1475. at least, 20% allocation out of 1Bn for SL GLAS. which means, 200Mn USD. OK. I just tell the background. I try to mean that, USD 70 Mn or INR 5 billion paid for 56.45%. that's all. clear.

Invest2020 · **887** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 3:16 am

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New York-based PE firm will first pay $850 million and assume ownership and management control of Piramal Glass. The remaining $150 million will be paid after Piramal Glass achieves certain business milestones.
https://www.livemint.com/companies/news/blackstone-to-buy-piramal-glass-for-1-billion-11607677639729.html

Approx. 1,000,000,000USD* 186 = Rs. 186Bn to Pristine. EV of Piramal SL Rs.13Bn ( I am very keen to know how did they get a value for EV)
Rs.13 Bn / Rs.186Bn = 7% Very tiny

CSE Announcement:-

"The consideration for the transaction is to be calculated based on the enterprise value of the company of Indian Rupees 5.166 billion the indebtedness of the company, the net debt of the company and a working capital adjustment to be computed, as agreed, as of the date of transfer of the glass manufacturing business of the seller in India"

Note :- consideration will be calculated at the date of ownership transfer of Pristine India hence reports which has been issued by broker firms has to adjusted.

Key importance:-

Recognized globally among the top four companies with a comprehensive in-house capability to produce borosilicate type-1 moulded glass containers, we manufacture and supply essential and safe glass vials and infusion bottles for the global pharmaceutical industry. Our ISO 15378 certified type-1 glass manufacturing facility at Kosamba, India, with a dedicated capacity of 45 tonnes per day (TPD) or 400 million type-1 glass vials and infusion bottles per year, is one of the most modern facilities in India. The facility ensures particulate-free and contamination-free type-1 glass vials and infusion bottles. Besides, we have allocated another 45 TPD furnace for type-1 glass as a backup. Hence, we can double our offering at a short notice.

https://www.piramalglass.com/expertise/

"we can double our offering at a short notice." I guess, this statement has to be accomplished in order to entitle to receive the balance $150Bn from Black stone.

I Hope, We are to have the second Covid -19 Super Star.

01. Expo Lanka
02. Piramal Glass
03. Yet to come - DIPD / HAYC

This is only a study material published for an open discussion.

Agape · **888** GLAS-Am not sure if there is a Mandatory offer Sat Dec 12, 2020 6:58 am

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I see a lot of hype on the news of the sale of the Parent Co of GLAS-the question is whether there will be a Mandatory Offer for the shareholders of GLAS?
My understanding is no- there will not be a Mandatory Offer

glad · **889** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 7:11 am

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Agape wrote:I see a lot of hype on the news of the sale of the Parent Co of GLAS-the question is whether there will be a Mandatory Offer for the shareholders of GLAS?
My understanding is no- there will not be a Mandatory Offer

So far no indication of mandatory offer. It will depend on the new owners I believe. At the same time it looks like someone doesn't want the price to move up. As an investment GLAS looks good, will wait till quarter report to see for fresh orders of their products. Just my 2cts worth.

Rizna · **890** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 8:03 am

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Blackstone set to buy Piramal Glass for $1 billion - https://www.livemint.com/companies/news/blackstone-to-buy-piramal-glass-for-1-billion-11607677639729.html

Rizna · **891** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 8:09 am

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“The current management team led by Vijay Shah (CEO and president, Piramal Glass), is terrific. Blackstone will support the team with various in-house and industry experts, including Uwe Roehrhoff (former CEO of Gerresheimer, a leading global partner to the pharma and healthcare industries), who is familiar with the company for 20 years, and Harish Manwani, formerly of Unilever, which has been a customer of Piramal Glass for more than two decades," said this person.
A Blackstone spokesperson chose not to comment on the deal, while an email sent to Piramal Group remained unanswered.
Piramal Glass, part of the $10 billion Piramal Group, is a global manufacturer of specialized glass for cosmetics, perfumery, speciality food, beverages and pharmaceutical industries, operating in 65 countries

The company is one of the four players globally to have type 1 pharma glass manufacturing capabilities used for complex pharma products such as liquid injectable drugs, which has seen high demand during the pandemic that is ravaging the world.
The glass industry was seen as resilient to the turmoil caused by the pandemic because of demand from the pharmaceutical industry even though segments such as cosmetics and perfumes were impacted.
The deal will allow Blackstone to gain from the global shift from plastic bottles to recyclable glass bottles. Also, glass manufacturing facilities are being shifted from high-cost locations in Europe and the US to emerging markets such as India.

Blackstone will get access to Piramal Glass’ large clientele comprising companies such as Coty, L’Oreal, Diageo, Pernod Ricard, and Sanofi. The company claims to have a majority market share in India and Sri Lanka and is expanding its foothold in the US and Europe.
The global glass market targeted by Piramal Glass is estimated at $10 billion with a compound annual growth rate (CAGR) of 3%. During FY20, Piramal Glass posted revenue of $293 million. Between FY2017 and FY2020, its revenue grew at a CAGR of 5.3%, while earnings before interest, tax, depreciation, and amortisation increased at a CAGR of 9.7%. -www. livemint.com

Winner123 · **892** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 8:28 am

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Many people say that there will be no mandatory offer. How ever there should be a mandatory offer when the deal is over 30%? Your comments.....

jason12 · **893** PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 9:00 am

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https://www.reuters.com/article/health-coronavirus-india-vaccine/not-without-india-worlds-pharmacy-gears-up-for-vaccine-race-idUSL4N2IA1RM

HEALTHCARE & PHARMACEUTICALS
DECEMBER 10, 20203:36 PMvUPDATED 2 DAYS AGO

Promoney · **894** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 9:09 am

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Winner123 wrote:Many people say that there will be no mandatory offer. How ever there should be a mandatory offer when the deal is over 30%? Your comments.....

believe - PIRAMAL GLASS CEYLON PLC (GLAS.N0000) - Page 36 Scree210

A Twitter forum

Rizna · **895** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 11:07 am

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The deal will allow Blackstone to gain from the global shift from plastic bottles to recyclable glass bottles. Also, glass manufacturing facilities are being shifted from high-cost locations in Europe and the US to emerging markets such as India.

Blackstone will get access to Piramal Glass’ large clientele comprising companies such as Coty, L’Oreal, Diageo, Pernod Ricard, and Sanofi. The company claims to have a majority market share in India and Sri Lanka and is expanding its foothold in the US and Europe.
The global glass market targeted by Piramal Glass is estimated at $10 billion with a compound annual growth rate (CAGR) of 3%. During FY20, Piramal Glass posted revenue of $293 million. Between FY2017 and FY2020, its revenue grew at a CAGR of 5.3%, while earnings before interest, tax, depreciation, and amortisation increased at a CAGR of 9.7%. -www. livemint.com

DamithAsian · **896** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 11:15 am

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There will be new demand pattern for shares up on new value creation with US company Very Happy

vijay singh · **897** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 11:25 am

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how poor financial literacy, trusting upon Some of research unsound calculation people panic and sold out valuable things. within 1 minute they calculate and distribute their wrongful share calculation. trusting this, people panic and big players are collecting. try to understand hidden agenda. each researcher revised TPs. next few weeks, GLAS 3RD wave coming, everyone understand how worth of share. good luck .

st clair's · **898** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 11:28 am

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Winner123 wrote:Many people say that there will be no mandatory offer. How ever there should be a mandatory offer when the deal is over 30%? Your comments.....

https://www.ibanet.org/Search/Search.aspx?query=Sri%20Lanka%20Takeover%20Guide

Refer "Rule 31" in page #07, second bullet point to the document

C.THARANGA · **899** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 11:46 am

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I don't care what fake people or fake broker firm says,
I'm with the people who know value of this share.
I have several time do this calculations. I entered in to GLAS when it was 4.20 line due Covid. Still I'm collecting and holding for the future. Now i have invest more than 50 % of my total capital In near future more opportunities to come including many positive news. Keep calm and collect as much as possible. Basketball

believe - PIRAMAL GLASS CEYLON PLC (GLAS.N0000) - Page 36 Captur10

jason12 · **900** PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 1:41 pm

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Master D wrote:Valuation Analysis of the deal ( This is My own work - pls comment if you have feedback)

Piramal GLASS is to be sold at 900MN to 1Billion USD. Lets consider the worst case. 900 Million.

Two ways to value the SL operation
1. Production capacity based allocation on the deal price
2. Turnover based valuation ( figures available in financial reports of Piramal group India)

1. Production capacity based allocation

Piramal has four plants and to decoration centers. can process 1475 tons a day as a group.
SL operation has 300 tons per day capacity. Thats 20% of total capacity ( assumed all factories utilized at the percentage capacity allocation).

Sale value = 900 Million USD
20% sale value = 180 million USD = 32.4 billion LKR

No of Shares of GLAS= 1 billion

Thats leads up to a value of 32.4 per share as per this deal. ( best case valuation )

2. Turnover based valuation

2020/19 turnover for the GLASS operation of Piramal = 357 Million USD ( source:
https://www.piramalglass.com/piramal-glass-announces-inr-300-crores-us42-million-investment-towards-expansion-of-its-jambusar-plant-in-gujarat-india/ )

Valuation of the deal = 900 Million USD
Valuation ratio = 900/357 = 2.5 times turnover

GLAS N.000 turnover for 19/20 year = 7 billion LKR
valuation as per above ratio = 7*2.5= 17.5 Billion LKR

Price per share = 17.5 Billion LKR / 1 billion shares = 17.5 LKR per share

This valuation goes to 17.5 LKR per share. ( which is the worst case valuation)

Broker firms now recommends this will be 16+ bcz of the deal.
Please let me know your thoughts

Master D,

Any update pertaining to ur above calculations?

Thanks

Nandun · **901** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 2:09 pm

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Eranga87 wrote:Glas no.of share = 950,086,080

Enterprise Value (EV)

Market capitalization = 8,265,748,200

Total debt               = 3,227,815,000

Cash                       =   (174,750,000)

EV                          =11,318,813,200

EV of per share         =Rs.11.91

EV portion for Piramal = 6,389,470,051.40 (a)

Acquisition Enterprice

value consideration

purchase consideration= 5,166,000,000 INR

Conversion rate          = RS.2.52

SPA payment              = Rs.13,018,320,000 (b)

SPA PMT Times            = 2.03 times (a/b)

Piramal Pvt Ltd was received INR 5 billion on behalf of 536,331,880 no. of shares. they still not liable for the settlement of any debt. BLACKSTONE value the whole EV of SL Piramal Glas PLC and paid INR 5Billion for majority shareholder 56.45% Indian Piramal Pvt entity. considering this, BS paid 2.03 times enterprise value. that means, Rs.11.91*2.03 = Rs.24.27

Are you sure about debt and cash figures? Suspect

Promoney · **902** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 3:27 pm

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vijay singh wrote:how poor financial literacy, trusting upon Some of research unsound calculation people panic and sold out valuable things. within 1 minute they calculate and distribute their wrongful share calculation. trusting this, people panic and big players are collecting. try to understand hidden agenda. each researcher revised TPs. next few weeks, GLAS 3RD wave coming, everyone understand how worth of share. good luck .

Agree 100%.
Enterprise Value (EV) is the Value of a company as a whole. It includes its assets, intellectual property, cash flows, debts, and all else.

Rdiculous to deduct debt from the EV. Anyone can do a simple Google investigation on what EV is

️
Debt, working capital are variables/determinants of EV, thats why the disclosure say, whats prevailing at that time will decide on the transaction value

Winner123 · **903** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 3:39 pm

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These research firms should not do these type of dirty things. Specially within few minutes after the disclosure. Poor retailers paid the price.

geesura · **904** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 4:07 pm

"The stock market is filled with individuals who know the price of everything, but the value of nothing." — Phillip Fisher

Vishwanarth · **905** Re: PIRAMAL GLASS CEYLON PLC (GLAS.N0000) Sat Dec 12, 2020 4:20 pm

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I think new price trend will be emerged in recent future. Definitely Q3 will be having above price level.

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