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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » LITE analysis needed

LITE analysis needed

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1LITE analysis needed Empty LITE analysis needed Wed Aug 31, 2011 1:52 pm

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I need a small analysis of lite related to the june 30 financial report. I tried a lot but I am unable complete it. This is my first experience. Please anybody help me kindly. Crying or Very sad

The link for the report has been shown below
LITE.N000 Quarterly financial report as of 30/6/2011.

2LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 2:04 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@Roboticfx wrote:I need a small analysis of lite related to the june 30 financial report. I tried a lot but I am unable complete it. This is my first experience. Please anybody help me kindly. Crying or Very sad

The link for the report has been shown below


LITE.N000 Quartly financial report as of 30/6/2011.

Quick note:
I see a massive revenue drop of 75% from last year. That is major and no mention what is going on. EPS is negative again. Unless some drastic changes by management fundamentally I see no backing for this share as a holding yet in fundamentals grounds. On manipulation .... I have no idea.

LITE parents are notorious for right issues. LITE has one last year Rs 8. You never know what they will do. Who knows a battery compnay can be a plantation buyer like LDEV did or might build a hotel. I am not particular about companies which neglects their core business.

3LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 2:13 pm

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Dear slstocks,

Please answer these questions if you like. It will help me to get a better idea.
Will the price move down with this situation? Could you suggest it? What's the meaning of -(EPS)?

4LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 2:15 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@Roboticfx wrote:Dear slstocks,

Please answer these questions if you like. It will help me to get a better idea.
Will the price move down with this situation? Could you suggest it? What's the meaning of -(EPS)?

- EPS = minus earning per share. ( loss)

To be frank I do not see why this share should stay this price as it was push up in the first place. But as I said anything can happen at CSE.

5LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 2:19 pm

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Did you mean it should raise up? Neutral

6LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 2:27 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@Roboticfx wrote:Did you mean it should raise up? Neutral

No down on fundamentals and growth current prospectus.

But on manipulation or news it can go further up but thats different.

7LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 2:36 pm

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I think -(EPS) reasoned for a downward of price level. Am I correct? However, Thank you so much to help me in this occasion. cheers

8LITE analysis needed Empty Re: LITE analysis needed Wed Aug 31, 2011 3:07 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Based on the FY11 Annual Report and the June 2011 financials, there is not much fundamental justification for LITE at Rs12 based on publicly available information. Charts and technicals of course may tell a different story for short term traders.

Sales are down (company seems to be only importing penlite batteries now) - loss making in June 2011 quarter again - book value per share of Rs6.7 - no Independent Directors on Board - despite 3 rights issues in past 6 years, results have been very poor

Company though has 3.5 acres of freehold land in Homagama, but already revalued at 31/3/2010 at Rs102 m, so will not boost net asset value that much

Share went as high as Rs14.9 recently, but that may have more to do with trading and 'deal' rumours, rather than fundamentals. Lots of high net worth individuals and individual margin clients in Top 20 shareholders at 30/6/2011, but no large institutions.

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