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Transcript of Weekly Plus
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8/13/2019 Weekly Plus
1/12
2014 Issue 05 Week Ending 31-01-2014
Weekly Market Wrap UpStat Page Pg 02
Weekly Stock Trends Pg 03
S&P SL20 Watch Pg 04
Local Economy in BriefCurrency Moves Pg 05
Inflation & Interest Rates Pg 06
Colombo Tea Auction Pg 06
Tourism Pg 06
Global MarketEquity Market Outlook Pg 07
Global Commodity Trend Pg 08
Research Chat:Textured Jersey Lanka Corporate Update Pg 09
Our Core Coverage Pg 10-Pg 11
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8/13/2019 Weekly Plus
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Current WoW %
ASPI 6248.08 -0.1%
S&P SL20 3443.25 -1.0%
Turnover (LKR 'bn) 5,280.6 -9.2%
Volume ('mn) 370.3 -19.6%
Market Cap. (LKR 'bn) 2,608.3 0.2%
LKR ('mn) Current WoW %
Foreign Purchases 1,455.4 -28.3%
Foreign Sales 1,247.3 -32.3%
Net Foreign Inflow 208.1 11%
Foreign Participation 39% -2.4%
Net Foreign 441 208
Current WoW %
PER 16.9 0.7%
PBV 2.1 0.5%
DY 2.8 0.0%
Current WoW %
BANKS FINANCE & INS. 14,055.6 -0.1%
BEV. FOOD & TOBACCO 21,742.2 2.0%
CHEM. & PHARMA. 6,357.1 -2.7%CONS. & ENG. 2,905.3 0.9%
DIVERSIFIED 1,858.7 -1.3%
HEALTH CARE 807.6 7.0%
HOTELS & TRAVELS 3,212.2 -0.2%
HNB (+) 2.6% HNB[X.0000] (+) -1.05% LAND & PROPERTY 604.8 -2.4%
DISTILLERIES 0.22% CHEVRON (+) -0.37% MANUFACTURING 3,074.7 -1.3%
COMMERCIAL BANK (+) 0.1% KAHAWATTE (+) -9.79% MOTORS 15,374.1 -2.2%
TOKYO CEMENT 1.45% NAT. DEV. BANK (+) -0.1% PLANTATIONS 755.7 -0.2%
HEMAS HOLDINGS 1.47% DFCC BANK -0.10% TELECOM 157.5 -1.8%
541
619.6
Change in Foreign HoldingDecline in
Value
LKR 'mn
Decline in Foreign Holding
Growth in
Foreign
Holding
Growth in Foreign Holding
2,879.0
1,883.6
754.8
6,533.1
-42.6
Weekly Stat Page
Previous
Weekly Market Statistics
Weekly Foreign Flow
Weekly Market Valuations
Weekly Sector Statistics
Decline in
Foreign
Holding 3,219.6
3,114.5
15,716.2
Previous
6255.63
757.3
160.4
3478.09
5812.5
16.8
2.1
2.8
Previous
14,074.7
21,326.3
187.7
40%
2,030.4
1,842.8
460.8
2602.6
Previous
-19.7
-9.5
-9.0
188
Growth in
Value
LKR 'mn
314.2
33.2
32.5
28.9
22.0
-38.8
5,700
5,800
5,900
6,000
6,100
6,200
6,300
Daily Index Movement
ASPI
0
100
200
300
400
500
4,000
4,500
5,000
5,500
6,000
10-Jan 17-Jan 24-Jan 31-Jan
('Mn)
LKR('Mn)
Weekly Turnover and Volume
Turnover (LHS) Volume (RHS)
0
500
1,000
1,500
2,000
2,500
10-Jan 17-Jan 24-Jan 31-Jan
LKR('Mn)
Weekly Foreign Purchases and Sales
Foreign Buying Foreign Sales
0%
10%
20%
30%
40%
50%
60%
70%
Daily Foreign Activity
Foreign Activit y Linea r (Foreign Activity)
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8/13/2019 Weekly Plus
3/12
Company WoW %
CHILAW FINANCE 32.08%
SINHAPUTHRA FIN 27.85%SWISSTEK 20.00%
ASIRI 18.29%
COM.CREDIT 18.12%
Company WoW %
MORISONS -22.03%
AMANA BANK -18.57%
PDL -11.14%
INDO MALAY -10.63%
LANKA ASHOK -10.56%
Company WoW %
HNB -1.24%
JKH -2.83%
COMMERCIAL BANK -2.23%
EXPOLANKA 8.89%
CEYLON TOBACCO 2.92%
Company WoW %
S M B LEASING 0.00%
S M B LEASING[NON V 0.00%
EXPOLANKA 8.89%
TOUCHWOOD 3.45%
FLC HOLDINGS -4.35%
67.0011.50
10.90
8.60
52 High 52 Low
52 High 52 Low
0.70 0.30
7.10 5.50
75.00 40.20
1,540.00 1,250.00
2,002.20 1,301.00
1.80 0.50
299.80 204.00
131.50 105.00
21.00
117.0022.90
21.00
19.50
8.80
2.90
2.20
Low
15.90
93.00
52 High
361.90
176.00
18.30
17.00
14.60
1,340.50
1,305.00
158.20
234.00
126.00
8.80
1,281.00
Weekly Top Losers
Weekly Top Performers
Weekly Top Volume
Low
Low
Low
230.00
5.50
61.60
25,610,259
178,986
Volume
Turnover
687,113,282
521,492,568
249,629,464
235,915,949
Volume
4,369,477
2,192,960
9.90
52 Low
160.00
140.00
12,687,837
1.40
0.50
68,311,442
55,089,023
25,610,259
13,947,606
1,400.50
9.90
8.60
3.00
720.00
6.50
0.90
2.00
6.50
1,957,740
High
21.00
117.0022.90
21.00
19.50
Turnover
121,767,082
2,499,3536,562,107
74,727,927
65,793,751
Volume
6,358,016
23,779313,788
4,005,626
3,951,369
Previous
15.90
87.6019.00
17.50
14.90
Current
21.00
112.0022.80
20.70
17.60
Weekly Stock Trends
52 Low
9.80
Weekly Top Gainers
52 High
Turnover
230
50,816,666
45,315
27,358
151,890
Volume
1
7,605,495
691
20
115
High
230.00
7.10
69.00
1,450.00
1,675.00
1,251.30
Previous
295.00
7.00
70.00
1,500.00
1,515.00
High
161.00
247.40
Previous
161.80
247.00
Current
230.00
5.70
62.20
1,340.50
1,355.00
Current
159.80
240.00
127.00
9.80
1,287.90
Turnover
110,934,362
31,976,055
Previous
1.50
0.50
232,736,082
130.00
9.90
1,349.00
129.90
9.00
235,915,949
43,350,386
27,929,210
High
1.80
0.70
9.90
3.30
2.40
9.00
2.90
2.30
Current
1.50
0.50
9.80
3.00
2.20
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8/13/2019 Weekly Plus
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DIVIDENDS
RIGHTS ISSUE
Pelawatte Sugar
Arpico Finance
S&P SL20 Companies Previous WoW % ###JOHN KEELLS HOLDINGS 247.00 -2.83% ###
COMMERCIAL BANK 129.90 -2.23% ###
THE BUKIT DARAH 612.00 0.10% SCRIP DIVIDEND
HATTON NATIONAL BANK 161.80 -1.24%
CARSONS CUMBERBATCH 355.00 -2.82%
SAMPATH BANK 178.90 -2.74%
CEYLON TOBACCO COMPANY 1,251.30 2.92%
DFCC BANK 150.00 -0.07% CAPITALIZATION OF RESERVES
AITKEN SPENCE 103.80 -0.39%
NATIONAL DEVELOPMENT BANK 185.00 0.27%
C T HOLDINGS 150.00 -2.93%
DISTILLERIES 205.00 2.44%
HAYLEYS 298.30 -0.23% SUBDIVISION OF SHARES
CHEVRON LUBRICANTS LANKA 291.00 -2.03%
DIALOG AXIATA 9.50 -3.16%
CARGILLS (CEYLON) 153.40 0.33%
LANKA ORIX LEASING COMPANY 73.30 1.64% CONSOLIDATION OF SHARES
NESTLE LANKA 2,150.50 1.45%
ASIAN HOTELS & PROPERTIES 66.00 -1.52%
LION BREWERY CEYLON 380.00 0.05%
207,588,777
97,448,322
468,117
5,186,601
108,269,729
13,166,248
1,680,055
14,063,144
78,977,242
2,625,199
1,798,351
0-Jan-1900 0-Jan-1900
0-Jan-1900
0 0
0-Jan-1900 0 0
0-Jan-1900
0-Jan-1900 0-Jan-1900
50,594,145
0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900
Company Proportion EGM Date Trading Date
0-Jan-1900
Company Proportion
24,408,982
687,113,282
3,003,811
0-Jan-1900
E-Channelling
Overseas Realty (Ceylon)
To Be Notified1 for 4 @ LKR18.0
2 for 3 @ LKR50.0
0Turnover521,492,568
Company
XD Date
38,159,225
232,736,082
0-Jan-1900 0-Jan-1900 0-Jan-19000-Jan-1900
0-Jan-1900
0-Jan-1900
XD DateEGM DateProportionCompany
0-Jan-1900
0-Jan-19000-Jan-1900
249,629,464
249,934
S & P SL20 Debrief
Proportion
Announcements
Company Dividend (LKR)
10-02-2014
To be Notified
19-02-2014
To be Notified
2.00Aitken Spence Plantations
Metropolitan Holdings
Textured Jersey Lanka
05-02-2014
06-02-2014
07-02-2014
10-02-2014
17-02-2014
19-02-2014
Payment
0-Jan-1900
0-Jan-1900
1.00
0.50
0
Lanka Tiles
0-Jan-19000-Jan-1900
0-Jan-1900
EGM Date Trading Date
2,181.60
65.00
380.20
To Be Notified
0
20-02-2014
To be Notified
To be Notified
0-Jan-1900 0-Jan-1900
Company Proportion EGM Date XC Date
0-Jan-19000-Jan-1900
0-Jan-1900 0-Jan-1900
0-Jan-1900
0-Jan-1900
0
0
0-Jan-1900
0
10-02-2014
To Be Notified
To Be Notified
00-01-1900
2.00
0.50
0.45
1.00
0.00
0000
00-01-1900
Renunciation
0
XR Date
Current240.00
127.00
612.60
159.80
345.00
174.00
1,287.90
149.90
103.40
185.50
145.60
210.00
297.60
285.10
9.20
153.90
74.50
3,150
3,200
3,250
3,300
3,350
3,400
3,450
3,500
Daily Index Movement
S&P SL20
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8/13/2019 Weekly Plus
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Local Economy
CURRENCY MOVES
130
130
131
131
131
131
131
LKR USD : LKR
1.15
1.20
1.25
1.30
1.35
LKR Japanese Yen : LKR
172
174
176
178
180
182
LKR EURO : LKR
100
101
102103
104
105
106
LKR Singapore Dollar : LKR
200
205
210
215
220
LKR GBP : LKR
2.00
2.02
2.04
2.062.08
2.10
2.12
2.14
2.16
LKR Indian Rupee : LKR
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8/13/2019 Weekly Plus
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BALANCE OF TRADE TOURISM
For the Month Ending: Nov-13 For the Month Ending:
Nov-13 MoM % Nov-12 2013 2012
Exports 1,032 -1% 828 Dec-13 153,918 122,252
Imports 1,648 7% 1,821 YTD 1,274,593 1,005,605
Balance of Trade -616 -25% -993
COLOMBO TEA AUCTION STATISTICS
Sale of
22-Jan-14 WoW %
High Grown 453.49 -0.56%
Mid Grown 452.98 0.39%
Low Grown 549.21 1.36%Total 515.79 1.59%
COLOMBO RUBBER AUCTION STATISTICS
For the Month Ending: Jan-2014
Jan-14 Basis Points Sale of
Point to Point 4.4% 30 30-Jan-14 WoW %
Annual Average Change 6.5% 40 RSS 1 305.00 -10.29%
1-Yr T-Bill 7.15% 114 Brown Crepe 1X 311.50 -24.30%
YoY %
Change %
340.00
411.50
YoY %
25%
Elevation
2.71%
17.70%
27.60%
13-Jan-14
456.03
1,041
1,535
26%
27%
20.99%
-24.30%
-10.29%
WoW %
-10%
38%
441.52
384.85
430.42426.31
Local Economy
Elevation
Dec-13
INFLATION & INTEREST RATE
Oct-13
-494
Sale of
Sale of
31-Dec-13
Corres. 2013
451.21
541.82507.71
Dec-13
4.7%
6.9%
8.29%
Sale of
07-Jan-14
340.00
411.50
-1,200
-800
-400
0
400
800
1,200
1,600
2,000
Balance of Trade
Exports Imports Balance of Trade
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000180,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Tourist Arrivals
2010 2011 2012 2013
2%
4%
6%
8%
10%
12%
14%
Jan-14Nov-13Sep-13Jul-13May-13Mar-13Jan-13
Inflation and Treasury Bill Rate
1-Yr T-Bill Point to Point Annual Average Change
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8/13/2019 Weekly Plus
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EQUITY MARKET OUTLOOK
Global Markets
15,000
15,500
16,000
16,500
17,000
Index Dow Jones Industrial Average
6,200
6,300
6,400
6,5006,600
6,700
6,800
6,900
Index FTSE 100 Index
1,650
1,700
1,750
1,800
1,850
1,900
Index S&P 500 Index
7,000
9,000
11,000
13,000
15,000
17,000Index Nikkei 225
2,800
2,900
3,000
3,100
3,200Index EURO STOXX 50 Price EUR
20,50021,00021,50022,00022,50023,000
23,50024,00024,500Index Hong Kong Hang Seng Index
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8/13/2019 Weekly Plus
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WTI Crude USD/bbl 97.90 0.9%
Gold USD/t oz. 1,243.30 -2.2%
Copper USd/lb. 320.65 -2.3%
Cotton USd/lb. 86.12 -0.8%
Wheat USd/bu. 553.00 -2.5%
GLOBAL COMMODITY TREND
86.83
567.25
Commodity This WeekLast
Week
WoW
Change
1,270.70
328.15
Global Markets
97.06
88
90
92
94
96
98
100
102
USD/bbl WTI CRUDE FUTURE
70
75
80
85
90
USd/lb. COTTON NO.2 FUTURE
1,100
1,150
1,200
1,250
1,300
1,350
USD/t oz. GOLD 100 OZ FUTURE
0
200
400
600
800
USd/bu. WHEAT FUTURE(CBT)
300
310
320
330
340
350
USd/lb. COPPER FUTURE
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8/13/2019 Weekly Plus
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Softlogic quity ResearchPage | 9
We maintain a BUY on TJL based on robust profit growth backed by the commissioning of its multi fuel boiler
during 2QFY15E and steady volume growth fuelled by its 10-12% capacity expansion to be completed during
FY14E. TJL underscores strong valuations offering a one year total return of 32% based on a FY15E DCF fair
value of LKR20.0/share (+23%) and DY of 9%. BUY
TJLs 3QFY14 net earnings plunged 17% YoY to LKR301 mn primarily reflecting gross margin erosion of 500 bps
YoY to 11%. Outsourced orders adversely weighed on gross margins amidst the comparative quarter having
recorded an above average gross margin of 16% due to one off gains via provision reversals. Notably gross
margin excluding outsourced business was retained at 11.9% in line with FY13 average gross margin on a YoY
basis. Cumulative net earnings grew 16% YoY to LKR805 mn supported by robust revenue growth of 20% during
1-3QFY14 driven by strong order books.
Gross margin dip of 500 bps YoY hampered net earnings. Gross margin during 3QFY14 dipped to 11% cf 16% during 3QFY13 as one-off gains via provision reversals led 3QFY13 to
record an above average performance. Outsourcing orders due to a capacity constraint weighed on overall margins due to a lower level of in-house value addition however gross
margin excluding outsourced business was retained at 11.9% in line with FY13 average. Operating profit margin dipped 300 bps YoY to 9% as result of gross margin erosion amidst
operating expenses remaining broadly flat ( down by 1.2%). As a result 3QFY14 net earnings plunged 17% YoY to LKR301 mn while 1-3QFY14 earnings grew 16% YoY to LKR805 mn
backed by robust top line growth of 20% YoY reflecting strong order books generating a volume growth of 5%.
FY15E earnings to grow 26% YoY to LKR1,495 mn: We expect the commissioning of TJLs multi fuel boiler plant costing USD4.2 mn in 2QFY15E to substantially reduce its energy
cost. The plant is expected to cover its entire furnace oil requirement while generating 1MW electricity resulting in a gross margin expansion to 13% during FY15E (Appendix 1). We
expect FY13-FY16E to record a revenue growth CAGR of 14% backed by strong order books supported by its 10-12% capacity expansion costing USD4.7 mn to be completed during
FY14E (Appendix 2). This is likely to reduce its outsourced orders proportion enabling in house value addition leading to sustained gross margins in FY15E.
Attractive valuationsWe expect FY14E net earnings to grow 17% YoY to LKR1,186 mn backed by strong order books and a reversal in the adverse one-off impact on gross margin
during 4QFY14E. We forecast FY15E net earnings to grow 26% YoY to LKR1,495 mn with the cost benefit via TJLs power plant and capacity addition directly translating into bottom-
line growth. TJL currently trades at 9.1x PER and7.2x PER on FY14E and FY15E net earnings respectively. Dividend payout is maintained at 50% conservatively given its expansion
plans and healthy cash balance of LKR2.3 bn as at 31st December 2013. TJL offers strong valuations offering a one year return of 32% based on a FY15E DCF fair value of
LKR20.0/share (+23%) and DY of 9% (Appendix 3) BUY
Y/E March FY12 FY13 FY14E FY15E FY16E
Revenue (LKR mn) 12,237 10,951 12,574 14,315 16,053
Net Profit (LKR mn) 628 1,016 1,186 1,495 1,691
YoY% Growth -8% 62% 17% 26% 13%
EPS (LKR) 1.0 1.6 1.8 2.3 2.6
PER (x) 17.1 10.6 9.1 7.2 6.4
PBV (x) 2.0 1.9 1.7 1.5 1.4
PEG (x) (206.5) 17.1 54.1 27.6 48.2
Adjuste d DPS ( LKR) 0.5 1.2 0.9 1.1 1.3
Dividend Payout 50% 80% 50% 50% 50%
Dividend Yield (%) 2.9% 7.6% 5.5% 7.0% 7.9%
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Softlogic quity ResearchPage | 10
Name Y/E Rec Mkt Price NAVPS P / BV DPS
31-Jan-14 M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3
( 'M n) ( 'M n) ( 'M n) D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 3E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 2
Banking, Finance & Insurance
Ce ntra l F in an ce CF IN .N 0000 M Buy 1 90.00 1 8,283 104.9 19,928 17 4.32 1.09 2,675 3,041 3,437 3,829 3,084 25.51 2 9.00 3 2.77 3 6.51 29.41 46 14 13 11 7.4 6.6 5.8 5.2 6.5 2.9 1.5 14.6
Ceyl inco Insura nce CINS.N0000 D 1,379.90 14,364 26.4 36,449 543.79 2.54 1 ,508 1,953 2,087 57.08 73.94 79.01 57 30 24.2 18.7 17.5 12.5 0.9 10.5
Co mm er ci a l B a nk C OMB .N 00 00 D Buy 1 27.00 5 8,257 849.2 1 07,843 68.61 1.85 8,048 10,080 10,685 12,591 9,676 9.48 11.87 12.58 14.83 11.39 46 25 6 18 13.4 10.7 10.1 8.6 11 .1 4.5 3.5 13.8
Commerc ial Bank [X] COMB. X0000 D Buy 96.60 5 8,257 849.2 82,028 6 8.61 1.41 8,048 10,080 10,685 12,591 9,676 9.48 1 1.87 1 2.58 1 4.83 11.39 46 25 6 18 10.2 8.1 7.7 6.5 8.5 4.5 4.7 13.8
DFCC Ba nk DFCC.N0000 M MTB 149.90 37,196 265.1 39, 738 140. 31 1. 07 2,900 3,523 3,453 3,915 3,210 10.94 13. 29 13. 02 14. 77 12. 11 (43) 21 (2) 13 13.7 11.3 11.5 10.1 12.4 5.0 3.3 7.8
H a tt on N a ti o na l B a nk H N B. N0 00 0 D Buy 1 59.80 5 5,738 399.7 63,869 13 9.46 1.15 6,149 8,111 9,258 11,113 8,931 15.38 2 0.29 2 3.16 2 7.81 22.34 28 32 14 20 10.4 7.9 6.9 5.7 7.2 8.5 5.3 11.0
Hatton Nat ional Bank [X] HNB.X0000 D Buy 1 25.30 5 5,738 399.7 50,080 13 9.46 0.90 6,149 8,111 9,258 10,908 8,931 15.38 2 0.29 2 3.16 2 7.81 22.34 28 32 14 20 8.1 6.2 5.4 4.5 5.6 8.5 6.8 11.0
La nka Ori x Le as in g Co mpa ny LOLC.N0000 M 74.50 2 1,220 475.2 35,402 44.65 1.67 2,933 1 ,863 1,816 6 .17 3.92 3.82 ( 24 ) ( 36 ) 12.1 19.0 19.5 0.5 0.7 13.8
LB Fi na nce LFIN.N0000 M Buy 1 02 .5 0 5 ,3 89 6 9. 3 7 ,0 99 7 7. 81 1 .3 2 1 ,7 14 1 ,7 03 2 ,1 14 2 ,4 94 1 ,4 27 2 4. 75 2 4. 58 3 0. 52 3 6. 01 2 0. 60 6 8 (1) 24 18 4.1 4.2 3.4 2.8 5.0 6.5 6.3 31.8
National Development Bank NDB.N0000 D Buy 1 85 .5 0 2 4, 75 7 1 64 .7 3 0, 55 1 1 50 .3 2 1 .2 3 2 ,7 06 8 ,8 54 3 ,5 33 4 ,2 86 9 ,0 30 1 6 .4 3 5 3. 76 2 1. 45 2 6. 03 5 4. 83 2 6 2 27 (60) 21 11.3 3.5 8.6 7.1 3.4 15.0 8.1 10.9
N a ti on s T ru s t B a nk N TB .N 00 00 D Buy 68.00 11,207 230.6 15,681 48.60 1.40 1,534 1,951 2,211 2,625 2,052 6.65 8.46 9.59 1 1.38 8.90 41 27 13 19 10.2 8.0 7.1 6.0 7.6 2.1 3.1 13.7
Pa n As ia B an k PAB C.N0000 D Buy 17.70 4,128 295.0 5,222 1 3.99 1.26 824 811 325 633 450 2.79 2.75 1.10 2.14 1.53 1 28 ( 2) ( 60 ) 95 6.3 6.4 16.1 8.3 11.6 1.0 5.6 20.0
Pe op le 's Le as in g PLC.N 0000 M Buy 1 5. 50 1 8, 93 0 1, 57 9. 9 2 4, 48 8 1 1. 98 1 .2 9 4 ,5 42 3 ,0 73 3 ,0 15 3 ,5 90 3 ,0 07 2 .8 7 1 .9 5 1 .9 1 2 .2 7 1 .9 0 7 4 ( 32 ) ( 2) 19 5.4 8.0 8.1 6.8 8.1 1.3 8.1 24.0
S am pa th B an k S AMP.N 0000 D Buy 1 74 .0 0 2 8, 85 6 1 67 .8 2 9, 19 8 1 71 .9 6 1. 01 4 ,1 51 5 ,2 12 4 ,0 74 6 ,2 41 3 ,8 81 2 4. 74 3 1. 06 2 4. 28 3 7. 19 2 3. 13 1 9 2 6 (22) 53 7.0 5.6 7.2 4.7 7.5 6.0 3.4 14.4
Seyla n Ba nk SEYB.N0000 D 65.00 20,799 345.0 22,422 60.29 1.08 1,006 2,063 1,988 2.92 5.98 5.76 (17) 105 22.3 10.9 11.3 1.0 1.5 4.8
La nk a Ori x F in an ce LOF C.N 0000 M 3.60 5,931 2,800.0 10,080 2.12 1.70 1,246 686 898 1,026 617 0.44 0.25 0.32 0.37 0.22 (0 ) ( 45 ) 31 14 8.1 1 4.7 11.2 9 .8 16.3 - - 2 1.0
Sample Sector (16) 325,055 7,772.7 447,971 41.82 1.38 41,935 52,924 69,861 5.40 6.81 8.99 19 26 10.7 8.5 6.4 12.9
Full Sector (60) 584,436 1.48 9.0
Beverage, Food and Tobacco
Ca rgi l l s CARG.N0000 M 153.90 11,755 224.0 34,474 52.48 2.93 1,079 578 422 4.82 2.58 1.88 (1 ) ( 46 ) 31.9 59.7 81.8 2.0 1.3 9.2
Ce yl o n T ob a cco Co mp a ny C TC.N 00 00 D 1 ,2 87 .9 0 4 ,5 65 1 87 .3 2 41 ,2 54 2 4.3 7 5 2. 85 6 ,5 69 8 ,1 76 8 ,7 34 9 ,5 45 8 ,6 03 35 .0 7 4 3. 65 4 6. 63 5 0 .9 5 4 5 .9 3 2 9 2 4 7 9 3 6.7 2 9. 5 2 7.6 2 5. 3 2 8.0 4 5. 2 3 .5 14 3. 9
Di sti ll eri es DIST.N0000 M LTB 210. 00 49,925 300.0 63, 000 166. 42 1. 26 5,675 5,520 5,816 6,452 5,577 18.92 18. 40 19. 39 21. 51 18. 59 (3 0) ( 3) 5 11 11.1 11.4 10.8 9.8 11.3 3.0 1.4 11.4
Li on B re we ry LI ON .N 0000 M 3 80.20 6,136 80.0 30,416 76.71 4.96 1,262 1,046 1,107 1,457 965 15.78 13.07 1 3.83 18.22 12.06 25 (17) 6 32 24.1 2 9.1 27.5 2 0.9 31.5 4.0 1.1 20.6
N es tl e ( La nk a) N ES T.N 0000 D 2,1 81.60 3,475 53.7 117,207 6 4.68 33.73 2,633 2,994 3,513 3,822 3,557 49.01 5 5.73 6 5.39 7 1.14 66.20 39 14 17 9 44.5 39.1 33.4 30.7 33 .0 54.0 2.5 75.8
Sample Sector (5) 75,856 845.0 486,351 89.77 6.41 17,219 18,313 19,123 20.38 21.67 22.63 0 6 28.2 26.6 25.4 22.7
Full Sector (20) 545,794 4.61 22.9
Chemicals & Pharmaceuticals
CIC Holdings CIC.N0000 M 51.60 7,577 9 4.8 4,890 79.95 0.65 863 231 128 9.11 2.44 1.35 (7 ) ( 73 ) 5.7 21.2 38.2 1.6 3.2 11.4
La nkem Ceyl on LCEY.N0000 M 120.40 3,154 24.0 2,890 131.41 0.92 513 297 -226 21.39 12.36 (9.43) (55) (42) 5.6 9.7 -12.8 1.5 1.2 16.3
Sample Sector (2) 10,730 118.8 7,780 90.35 0.73 1,376 528 -99 11.59 4.44 (0.83) (33) (62) 5.7 14.7 -78.9 12.8
Full Sector (10) 17,872 0.92 20.6
Construction & Engineering
Co lo mb o Dockya rd D OCK.N0000 D 191.90 10,477 71.9 13,790 145.80 1.32 1,804 1,977 1,079 25.10 27.51 15.01 (13) 10 7.6 7.0 12.8 8.0 4.2 17.2
Sample Sector (1) 10,477 71.9 13,790 145.80 1.32 1,804 1,977 1,079 25.10 27.51 15.01 (13) 10 7.6 7.0 12.8 17.2
Full Sector (4) 41,192 2.63 9.9
Diversified Holdings
Ai tke n Spence SPEN.N0000 M 103.40 28,815 406.0 41,980 70.97 1.46 3,488 3,267 3,121 8.59 8.05 7.69 38 (6) 12.0 12.9 13.4 1.5 1.5 12.1
CT Holdings CTHR.N0000 M 145.60 16,707 183.1 26,659 91.25 1.60 1,159 1,150 1,407 6.33 6.28 7.68 34 (1) 23.0 23.2 19.0 0.7 0.4 6.9
Ca rs on s Cu mbe rba tch CAR S.N0000 M 345.00 3 0,175 196.4 6 7,753 153.65 2.25 7,017 4,570 2,988 35.73 23.27 15.21 55 (35) 9.7 14.8 22.7 2.0 0.6 23.3
E xp o la n ka H ol d i ng s E XP O. N0 00 0 M LTB 9.80 9,466 1,954.9 19,158 4 .84 2.02 1,033 1 ,061 1 ,302 1,143 0 .53 0.54 0.67 0.58 (33) 3 23 18.5 18.1 14.7 16.8 0.1 1.2 10.9
Ha yleys HAYL.N0000 M 297.60 23,074 75.0 22,320 307.66 0.97 1,038 1,854 2,150 13.84 24.72 28.67 43 7 9 21.5 12.0 10.4 4.5 1.5 4.5
Hemas Holdings HHL.N0000 M 42.00 12,849 515.3 21,642 24.94 1.68 1,165 1,658 1,920 2.26 3.22 3.73 (4) 42 18.6 13.1 11.3 0.8 1.8 9.1
J oh n K ee l l s H ol d i ng s J KH .N 00 00 M 2 40 .0 0 9 3, 13 4 9 90 .2 2 3 7, 64 8 9 4. 06 2 .5 5 9 ,6 87 1 2, 20 1 10 ,9 52 1 0, 65 3 11 ,7 76 9 .7 8 1 2 .3 2 1 1 .0 6 1 0 .7 6 1 1. 89 1 7 2 6 ( 10 ) ( 3) 24.5 19.5 21.7 22.3 20 .2 3.5 1.5 1 0.4
Richard Peiri s RICH.N0000 M 6.70 8,065 1,958.1 13,119 4.12 1.63 2,575 1,903 1,369 1.32 0.97 0.70 53 (26) 5.1 6.9 9.6 0.2 3.0 31.9
Softlogic Holdings SHL.N0000 M 11.20 7 ,327 779.0 8,725 9.41 1.19 483 301 254 0.62 0.39 0.33 ( 42 ) ( 38 ) 18.1 29.0 34.4 0.3 2.7 6.6
Va ll ibe l One VONE.N0000 M LTB 17.10 3 0,388 1,086.6 18,580 2 7.97 0.61 2,025 1,403 2,323 1,033 1.86 1.29 2.14 0.95 2 50 (31) 66 9.2 13.2 8.0 18.0 0.0 0.0 6.7
Sample Sector (10) 260,000 8,144.5 477,585 31.92 1.84 29,669 29,367 27,161 3.64 3.61 3.33 30 (1) 16.1 16.3 17.6 11.4
Full Sector (18) 510,304 1.71 17.5
Healthcare
As iri Ho spi ta l Ho ld. ASI R.N0000 M 20.70 5,831 1,099.1 22,751 5 .31 3.90 609 696 1 ,027 1 ,082 930 0 .55 0.63 0.93 0.98 0.85 219 14 47 5 37.3 32.7 22.2 21.0 24.5 0.5 2.4 10.4
Na wa loka Hospita ls NHL.N0000 M 3.30 3,886 1,409.5 4 ,651 2.76 1.20 271 454 345 0.19 0.32 0.24 (75) 68 17.2 10.2 13.5 0.1 1.5 7.0
La nka Hospitals LHCL.N0000 D 44.00 27,164 223.7 9,844 121.41 0.36 437 384 564 1.95 1.72 2.52 51 (12) 22.5 25.6 17.4 0.5 1.1 1.6
Sample Sector (3) 36,880 2,732.3 37,247 13.50 1.01 1,317 1,535 1,839 0.48 0.56 0.67 (15) 17 28.3 24.3 20.3 3.6
Full Sector (6) 52,746 2.40 20.8
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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Name Y/E Rec Mkt Price NAVPS P / BV DPS
31-Jan-14 M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3
( 'M n) ( 'M n) ( 'M n) D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 3E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 2
Hotels and Travels
Ai tken Sp . Ho . Hol d. AHUN.N0000 M 70.00 13,283 3 36.3 23,540 39.50 1.77 1,378 1,782 2,148 1,956 4.10 5.30 6.39 5.82 33 29 21 17.1 13.2 11.0 12.0 1.0 1.4 10.4
Amaya Lei sure CONN.N0000 M 70.20 2,594 48.0 3,372 54.01 1.30 293 377 376 344 6.09 7 .84 7 .83 7.16 (38) 29 (0) 11.5 9.0 9.0 9.8 4.0 5.7 11.3
As i an H ot el s & Pro p. AH PL .N 0000 M 65. 00 21, 335 442. 8 28,780 48. 19 1. 35 2,14 9 2,494 2, 386 2, 493 2, 480 4. 85 5.63 5. 39 5. 63 5. 60 21 16 (4) 4 13.4 11.5 12.1 11.5 11.6 4.0 6.2 10.1
Ke el ls H ot el s KH L.N0000 M 12.50 16,771 1,456.1 18,202 11.52 1.09 1,105 1,121 870 994 1,110 0.76 0.77 0.60 0.68 0.76 1 11 1 (22) 14 16.5 16.2 20.9 18.3 16.4 0.0 0.0 6.6
Taj TAJ.N0000 M 30.20 2,051 139.6 4,217 14.69 2.06 125 246 293 -165 0.89 1.76 2.10 (1.18) 26 97 19 33.8 17.1 14.4 -25.5 0.0 0.0 6.1
Tra ns As ia TRAN.N0000 M 83.50 5,971 200.0 16,700 29.85 2.80 625 1 ,066 884 927 1 ,007 3 .12 5.33 4.42 4.64 5.04 (5) 71 (17) 5 26.7 15.7 18.9 18.0 16.6 3.0 3.6 10.5
Sample Sector (6) 62,006 2,622.9 94,812 23.64 1.53 5,674 7,086 6,957 5,732 2.16 2.70 2.65 2.19 24 25 (2) 16.7 13.4 13.6 16.5 9.2
Full Sector (36) 313,487 2.66 35.2
Land and Property
Co lomb o La nd CLND .N0000 D 39.80 2,702 1 99.9 7,955 13.52 2.94 10 335 -90 12 72 0.05 1.68 (0.45) 0.06 0.36 (98) 3,393 (127) 113 829.5 23.7 N/A 662.9 111.2 0.0 0.0 0.4
Ove rs e as R ea l it y OS EA. N0000 D 20. 80 23, 360 843. 5 17,544 27. 69 0. 75 2,68 1 2,469 1, 924 2, 158 3, 848 3. 18 2.93 2. 28 2. 56 4. 56 218 ( 8) ( 22) 12 6.5 7.1 9.1 8.1 4.6 0.3 1.4 11.5
Sample Sector (2) 26,062 1,043.4 25,500 24.98 0.98 2,691 2,804 1,834 2,170 3,919 2.58 2.69 1.76 2.08 3.76 102 4 (35) 18 9.5 9.1 13.9 11.8 6.5 1.0 10.3Full Sector (18) 41,823 0.88 7.7
Manufacturing
ACL Cables ACL.N0000 M 69.00 5,848 59.9 4,133 97.63 0.71 485 532 534 8.10 8.88 8.91 127 10 8.5 7.8 7.7 1.0 1.4 8.3
Gra in El eva tors GRAN.N0000 D 38.50 2,794 60.0 2,310 46.56 0.83 388 135 87 93 -94 6.46 2.24 1.45 1.55 ( 1 .5 6) ( 18 ) ( 65 ) ( 35 ) 7 6.0 17.2 26.6 24.8 -24.7 0.1 0.4 13.9
Ch e vr on L ub ri c an ts L LU B. N0 00 0 D Hold 285. 10 5, 348 120. 0 34,212 44. 56 6. 40 2,00 1 2 ,288 2, 562 2, 701 2, 513 16. 67 1 9.06 2 1. 35 2 2. 51 20. 94 33 14 12 5 17. 1 15. 0 13.4 12. 7 13. 6 1 5.0 5.3 37. 4
La nk a Wa ll ti le LWL.N0000 M LTB 68.00 5,260 54.6 3,713 96.33 0.71 731 520 545 600 497 13.39 9.52 9.98 1 0.99 9.10 51 (29) 5 10 5.1 7.1 6.8 6.2 7.5 3.0 4.4 13.9
Pi ra ma l Gl as s GLAS .N0000 M Hold 4.70 3,373 950.1 4,465 3.55 1.32 686 724 361 532 694 0.72 0.76 0.38 0.56 0.73 19 5 (50) 47 6.5 6.2 12.4 8.4 6.4 0.4 8.1 20.4
Ro ya l Ce ra mi c RCL.N0000 M LTB 87.20 8 ,479 110.8 9 ,661 76.53 1.14 1 ,243 1,670 1,844 2,190 1,103 11.22 15.07 16.64 19.77 9.96 (14) 34 10 19 7.8 5.8 5.2 4.4 8.8 2.0 2.3 14.7
Te xtu re d J ers ey TJL.N0000 M Buy 1 6. 50 6 ,1 52 6 55 .0 1 0, 80 8 9 .3 9 1 .7 6 6 28 1 ,0 17 1 ,1 86 1 ,4 95 1 ,1 92 0 .9 6 1 .5 5 1 .8 1 2 .2 8 1 .8 2 (8) 62 17 26 17.2 10.6 9.1 7.2 9.1 1.2 7.5 10.2
To kyo Ce me nt TKYO.N0000 M Buy 35. 30 7, 793 334. 1 11,795 23. 32 1. 51 9 79 893 1, 968 1, 511 1, 883 2. 93 2.67 5. 89 4. 52 5. 63 14 (9) 120 (23) 12.0 13.2 6.0 7.8 6.3 1.0 2.8 12.6
Sample Sector (8) 45,045 2,344.5 81,096 19.21 1.80 7,141 7,778 8,322 3.05 3.32 3.55 15 9 11.4 10.4 9.7 4.6 15.9
Full Sector (36) 111,004 1.40 8.8
Motors
Co lon ia l Mo tors COLO.N0000 M 83.00 3,315 15.2 1,262 218.11 0.38 453 120 -210 29.80 7 .91 (13.80) 95 (73) 2.8 10.5 -6.0 3.0 3.6 13.7
Di es el & Moto r En gi nee ri ng DI MO.N0000 M 524.30 7,618 8.9 4,654 858.25 0.61 2,702 462 73 304.36 52.06 8.23 2 7 (83) 1.7 10.1 63.7 10.0 1.9 35.5
Un ited Mo to rs UML.N0000 M 126.40 7,895 67.3 8,503 117.37 1.08 2,281 2,013 1,808 33.91 29.92 26.88 153 (12) 3.7 4.2 4.7 10.0 7.9 28.9
Sample Sector (3) 18,829 91.3 14,418 206.13 0.77 5,436 2,595 1,671 59.51 28.41 18.30 67 (52) 2.7 5.6 8.6 5.6 28.9
Full Sector (6) 21,931 0.96 10.9
Oil Palms
Bu ki t Da ra h BUKI .N0000 M 612.60 27,684 102.0 62,485 271.41 2.26 7,299 5,042 2,649 71.56 49.43 25.97 43 (31) 8.6 12.4 23.6 3.0 0.5 26.4
Sample Sector (1) 27,684 102.0 62,485 271.41 2.26 7,299 5,042 2,649 71.56 49.43 25.97 43 (31) 8.6 12.4 23.6 3.0 0.5 26.4
Full Sector (5) 93,649 1.82 27.1
Plantations
Balangoda BALA.N0000 D 33.00 2,701 23.6 780 114.26 0.29 25 118 87 1.08 5.01 3.70 (85) 366 30.7 6.6 8.9 1.0 0.9
Horana HOPL.N0000 M 24.50 1,394 25.0 613 55.77 0.44 87 220 125 3.49 8.82 4.99 (73) 152 7.0 2.8 4.9 2.0 6.3
Kegal le KGAL.N0000 M 102.10 3,264 25.0 2,553 130.55 0.78 769 544 479 30.77 21.74 19.15 ( 8) ( 29) 3.3 4.7 5.3 12.0 11.8 23.6
Kelani Val ley KVAL.N0000 D 78.60 2,558 34.0 2,672 75.23 1.04 460 584 391 13.54 17.19 11.51 44 27 5.8 4.6 6.8 6.0 7.6 18.0
Kotagala KOTA.N0000 M 36.90 3 ,187 40.0 1,476 79.67 0.46 439 517 -173 10.97 12.92 (4.32) (34) 18 3.4 2.9 -8.5 2.5 6.8 13.8
Watawala WATA.N0000 M 10.30 3,883 236.7 2,438 16.41 0.63 455 680 510 1.92 2.87 2.15 (29) 49 5.4 3.6 4.8 0.8 11.7
Sample Sector (6) 16,986 384.3 10,531 44.20 0.62 2,236 2,664 1,419 5.82 6.93 3.69 (24) 19 4.7 4.0 7.4 13.2
Full Sector (19) 24,718 0.69 7.5
Power and Energy
Lanka IOC LIOC.N0000 M 38.30 15,331 532.5 20,396 28.79 1.33 906 2,911 4,371 1.70 5.47 8.21 3 221 22.5 7.0 4.7 1.0 5.9Val l ibel VPEL.N0000 M 5.90 2,160 747.1 4,408 2.89 2.04 249 289 626 0.33 0.39 0.84 (41) 16 17.7 15.2 7.0 0.3 4.2 11.5
La ugfs Ga s LGL.N0000 M 33.50 6,781 387.0 12,965 17.52 1.91 822 1 ,061 1 ,414 1 ,453 1 ,484 2 .13 2.74 3.65 3.75 3.83 (4) 29 33 3 15.8 12.2 9.2 8.9 8.7 1.5 4.5 12.1
Sample Sector (3) 24,271 1,666.6 37,768 14.56 1.56 1,977 4,261 6,482 1.19 2.56 3.89 (8) 116 19.1 8.9 5.8 8.1
Full Sector (8) 43,206 1.40 6.0
Telecommunications
Dialog Axiata DIAL.N0000 D 9.20 38,620 8,143.8 74,923 4.74 1.94 5,354 6,521 5,016 0.66 0.80 0.62 6 22 14.0 11.5 14.9 0.3 3.6 13.9
Sri Lanka Telecom SLTL.N0000 D 36.50 56,871 1,804.9 65,877 31.51 1.16 4 ,781 5,329 4,774 2.65 2.95 2.65 21 11 13.8 12.4 13.8 0.9 2.3 8.4
Sample Sector (2) 95,491 9 ,948.6 140,800 9.60 1 .47 10,135 1 1,850 9,790 1.02 1.19 0.00 0.98 13 17 13.9 11.9 14.4 10.6
Full Sector (2) 140,800 1.47 14.4
Trading
Browns BRWN.N0000 M 91.00 14,064 70.9 6,450 198.43 0.46 1,164 240 582 16.43 3.39 8.21 (47) (79) 5.5 26.9 11.1 0.5 0.5 8.3
S in ge r S ri L an ka S IN S. N0000 D 90. 00 4, 875 125. 2 1 1,269 38. 94 2. 31 1,266 1,138 661 10.11 9.09 5.28 90 (10) 8.9 9.9 17.1 6.0 6.7 26.0
Sample Sector (2) 18,939 196.1 17,718 96.59 0.94 2,431 1,378 1,242 12.40 7.03 6.34 (15) (43) 7.3 12.9 14.3 12.8
Full Sector (8) 22,511 0.98 17.1
Sample Market ( 70) 1,054,312 38,085.0 1,955,852 27.68 1.86 138,340 150,101 162,109 183,183 160,190 3.63 3.94 4.26 4.81 4.21 17 9 8 13 14.1 13.0 12.1 10.7 12.2 13.1
Total Market (284) 2,623,735 1.83 14.4
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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Softlogic Equity Research
Dimantha Mathew
+94 11 7277030
Kavindu Ranasinghe
+94 11 7277031
Imalka Hettiarachchi
+94 11 7277032
Softlogic Equity Sales
Dihan Dedigama
+94 11 7277010, +94 77 7689933
Thanuja De Silva
+94 11 7277059, +94 77 3120018
Eardley Kern
+94 11 7277053, +94 77 7348018
Chandima Kariyawasam
+94 11 7277058, +94 77 7885778
Branches
HoranaMadushanka Rathnayaka
No. 212, 1st floor, Panadura road, Horana
+94 34 7451000, +94 77 3566465
NegomboKrishan Williams
No. 121, St. Joseph Street Negombo
+94 31 2224714-5, +94 77 3569827
KurunegalaBandula Lansakara
No.13, Rajapihilla Mawatha, Kurunegala
+94 37 2232875, +94 77 3615790
The report has been prepared by Softl ogic Stockbrokers (Pvt) Lt d. The inf ormati on and opini ons contained herein has been compiled
or ar ri ved at based upon inf ormati on obtained fr om sources believed to be reliable and in good faith . Such infor mation has not been
independently verif ied and no guar anty, representation or warr anty, express or impli ed is made as to its accuracy, completeness or
correctness. Al l such i nformation and opinions are subject to change without notice. This document i s for information purposes only,
descri ptions of any company or companies or their securi ties mentioned herein ar e not intended to be complete and this document is
not, and should not be construed as, an offer, or solicitat ion of an off er, to buy or sell any securit ies or other fi nancial instr uments.
Softlogi c Stockbrokers (Pvt) Ltd may, to the extent permissible by applicable law or r egulation, u se the above material , conclusion s,
research or analysis in wh ich they are based before the materiali zed disseminated to their cu stomers. Not all customers wil l r eceive
the material at the same time. Softl ogic Stockbrokers, their respective director s, offi cers, representatives, employees, relat ed persons
and/or Softl ogic Stockbrokers, may have a long or short position i n any of the securiti es or other fi nancial i nstruments mentioned or
issuers described herein at any ti me and may make a purchase and/or sale, or of fer to make a purchase and/or sale of any such
securi ties or other fi nancial i nstruments fr om time to time in the open market or otherwise, in each case eit her as principal or agent.
Softlogi c Stockbrok ers may make markets in securi ties or other finan cial in struments descri bed in th is publication , in securi ties of
issuers described here in or i n securiti es underl ying or related to such securi ties. Softl ogic Stockbrok ers (Pvt) Ltd may have recently
underwr itten the securi ties of an issuer mentioned herein. This document may not be reproduced, distribu ted, or publ ished for any
purposes.
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