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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » KELANI TYRES PLC (TYRE.N0000)

KELANI TYRES PLC (TYRE.N0000)

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1KELANI TYRES PLC (TYRE.N0000) Empty KELANI TYRES PLC (TYRE.N0000) Mon Oct 12, 2020 1:38 pm

High-flyer

High-flyer
Manager - Equity Analytics
Manager - Equity Analytics
Kelani Tyres PLC is engaged in the business of importation and sale of tires in addition to holding investments in its subsidiary and joint venture (JV), as well as earning rental income from investment property. The Company's segments are Local sales of tyres, Vehicle hiring income and Investments. The Company's JV company, CEAT Kelani Holdings (Private) Limited (CKH), is engaged in the manufacture of automobile tires for the purpose of local sales and exports. In addition, the JV imports and sell tires of certain sizes. CKH is involved in the Motorcycle, Truck/Bus, three Wheeler, Agricultural and Passenger Car/Van sectors. CKH's manufacturing facilities are located at their factories at Nagoda, Kalutara district and Kelaniya, Gampaha district. Executive Cars (Private) Limited is the subsidiary of the Company.

What will be the Financial Prospect of the Kelani Tyres in coming Quarterly Results?


Summary of Results as of 30 June 2020 (Q1)


- CEAT Tyres (JV) has only made 182Mn PAT which includes 152Mn tax revesal.
- CEAT Tyres (JV) TO for last five Qs

        2019/20 Q1  - 2.3 Bn (Ester Attack)
                     Q2  - 2.6 Bn
                     Q3  - 3 Bn 
                     Q4  - 1.55 Bn (Covid Lock-down)
 
        2020/21 Q1  - 1.55 Bn (Covid Lock-down)  

Its not sure why TYRE could not achieve much in Q1 20/21. Company like TKYO has done tremendously well under import restrictions and expected to do well in coming Quarters.   

As boasted by the news papers & media and with the restriction in place for tyre imports, Kelani Tyre has to record impressive results in Q2. If not that would be huge disappointment for the investors.


CEAT Kelani production surge boosts earnings of local rubber industry


http://bizenglish.adaderana.lk/ceat-kelani-production-surge-boosts-earnings-of-local-rubber-industry/



CEAT ramps up ‘2-wheeler’ tyre production by 85% in 3 months



https://island.lk/ceat-ramps-up-2-wheeler-tyre-production-by-85-in-3-months/



CEAT to develop local industry: Save Rs.11Bn in foreign exchange via import substitution



https://www.lankabusinessonline.com/ceat-to-develop-local-industry-save-rs-11bn-in-foreign-exchange-via-import-substitution/



Sri Lanka’s CEAT ups tyre output amid import controls, holds prices



https://economynext.com/sri-lankas-ceat-ups-tyre-output-amid-import-controls-holds-prices-74327/

2KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Thu Oct 15, 2020 7:30 pm

High-flyer

High-flyer
Manager - Equity Analytics
Manager - Equity Analytics
Extremely bullish trading pattern today specially towards market closure.

Today 3.6Mn share trade and closed at 89.90 up by 15.85%

Today Cash in (Buying) 226Mn and Cash out (Selling) only 82Mn


Past weeks Trading


KELANI TYRES PLC (TYRE.N0000) XBKa2vxHQUyueCeIhdywQSwlXohF0wAW6kXcsEEsJV62QcXBhW4H05p5aDE3U4u5IIJYCv1Qi6YALZSL+SCCWAr9UIumAC2ttYLgwrcD6e0thbfUSCTC+4pciEXTABbqRdywQSwlXohF0wAW6mXfXD5f+xApOEeWMXOAAAAAElFTkSuQmCC


Feel trading was based on either expectation on,

- Dividend announcement
- Exceptional financial results due to Import Restriction.

3KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Fri Oct 16, 2020 12:30 am

kadik


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
100 in no time

4KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Fri Oct 16, 2020 6:47 am

shan31


Manager - Equity Analytics
Manager - Equity Analytics
Good share backed with fundamentals and excellent business prospects due to import restrictions.

I was told some brokers have started promoting this share this week. Expectation is 100-110 in this rally. 

You can enter low below 90 and exit when you feel profit is enough without being too greedy.

judecroos likes this post

5KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Sat Oct 17, 2020 2:11 pm

High-flyer

High-flyer
Manager - Equity Analytics
Manager - Equity Analytics
Q2 2020 Results out. 

https://cdn.cse.lk/cmt/upload_report_file/673_1602844523782.pdf

It is a Stellar performance by TYRE.

Refer Last Year Vs This year performance.

KELANI TYRES PLC (TYRE.N0000) Rxumgzfu7AAAAAABJRU5ErkJggg==

- Revenue has been increased by 50% against Last year average.
- Gross Profit has increased by 112% and now GP Margin is 36% compare to 25% Last year.
- Sales / Manufacturing volume has shot up 45% against Last year average.
- NP has increased 198%.

With the Current Imports restriction is still in place for Tyres, Q3 results will be no difference to this.

6KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Sat Oct 17, 2020 2:59 pm

praveen11


Stock Analytic
Stock Analytic
What is the expected target price for TYRE?

7KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Sat Oct 17, 2020 3:15 pm

DKbogols


Manager - Equity Analytics
Manager - Equity Analytics
Based on recent earnings 130 should be the fair value considering 10x PE and 3x PBV

8KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Sat Oct 17, 2020 3:46 pm

Win Win


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
As per the my calculation, PER of TYRE is 5.3 based on estimated earning in 2020/21 and current market price.
The target price will be within the range of Rs.104-110.




Disclosure : I am not holding TYRE shares as at 17th Oct 20
             Categorize as Moderate return investment compared to high return expectations such as DIPD, HAYC,TKYO, CIND, BPPL 

KingMaker2020 likes this post

9KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Sat Oct 17, 2020 6:06 pm

kadik


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
My target is 120 next week

10KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Mon Oct 19, 2020 12:44 pm

invest thinker

invest thinker
Manager - Equity Analytics
Manager - Equity Analytics
see TYRE Revenue.. declined and operation loss .. what happen tyre?? i really.. dont know. profit trough share of result JV

11KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Mon Oct 19, 2020 12:53 pm

Chathur


Senior Equity Analytic
Senior Equity Analytic
tyre overvalue now.. just look

12KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Mon Oct 19, 2020 12:59 pm

invest thinker

invest thinker
Manager - Equity Analytics
Manager - Equity Analytics
YES.. I KNOW..  most brokers recommend TYRE. WHAT happened retailers who is bought @ 90 level.

13KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Mon Oct 19, 2020 1:03 pm

Chathur


Senior Equity Analytic
Senior Equity Analytic
Known people know the story. They still don't have the capacity to cater market.. specially some segments.. yes they increased production ,.. but share price increased abnormally.. not reasonable.. hence the price is overvalue compared to revenue and future prospects

geesura likes this post

14KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Mon Oct 19, 2020 1:10 pm

invest thinker

invest thinker
Manager - Equity Analytics
Manager - Equity Analytics
most of them thought high profit earning this quater. at last.. what happend. i earlier mentioned SIL, definitely they more profitable this qtr.

15KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Mon Oct 19, 2020 1:57 pm

Junior investor

Junior investor
Manager - Equity Analytics
Manager - Equity Analytics
I went through earlier post and oh boy! 😃

16KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Thu Nov 05, 2020 3:01 pm

KingMaker2020


Equity Analytic
Equity Analytic
Currently selling at a discounted price in the market!

In my POV, this is yet another golden needle in the haystack waiting to be discovered.


DISCLOSURE - I am considering buying this share.



Last edited by KingMaker2020 on Thu Nov 05, 2020 3:04 pm; edited 1 time in total (Reason for editing : Disclosure)

17KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Thu Nov 05, 2020 3:30 pm

High-flyer

High-flyer
Manager - Equity Analytics
Manager - Equity Analytics
@KingMaker2020 wrote:Currently selling at a discounted price in the market!

In my POV, this is yet another golden needle in the haystack waiting to be discovered.


DISCLOSURE - I am considering buying this share.

With Import Restriction, they will have good Financial in 3 Q as well. 

But Dividend which is pending will trigger upward movement.

KingMaker2020 likes this post

18KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Thu Nov 05, 2020 4:35 pm

dakzsl


Senior Equity Analytic
Senior Equity Analytic
*TYRE 2QFY21 results*
TYRE earnings grew 3x YoY to LKR 314mn in 2QFY21 aided by a strong LKR 346mn contribution from it's joint venture CEAT. Domestic sales at CEAT grew 12% to LKR 4.6bn in 2QFY21 while export revenue declined to LKR 465mn cf. LKR 778mn in 1QFY20.

Dividend should be on the card very soon

KingMaker2020 likes this post

19KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Wed Nov 18, 2020 1:53 pm

KingMaker2020


Equity Analytic
Equity Analytic
What will happen to this counter now that the budget plan is released ??

20KELANI TYRES PLC (TYRE.N0000) Empty Re: KELANI TYRES PLC (TYRE.N0000) Fri Nov 20, 2020 6:41 pm

KingMaker2020


Equity Analytic
Equity Analytic
News was released after market close today...


  • Shandong Haohua Tire Co. signs BOI deal for $ 300 m export tyre manufacturing plant in Hambantota 

  • Will manufacture semi-steel radial tyres and all-steel radial tyres needed for trucks, buses and passenger cars

  • To create nearly 2,000 job opportunities

  • Factory to be set up on 121 acres of land in Industrial Park within H’tota International Port 

  • Phase 1 targets annual production of 9 m tyres to be shipped in 45,000 containers via H’tota port

  • Project will help SL double rubber sector exports to $ 2 b by 2025

  • PM, Namal, new Chinese envoy and Shandong Haohua Chief witness agreement signing via video

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