Nestle Lanka [NEST: LKR1901.9] ANALYST SIGNAL: ‘‘UNDERWEIGHT’’ EARNINGS TALK: Nestle Lanka [NEST: LKR1901.9], concluded 1Q2013 with net earnings up 98% YoY at LKR914 mn. Gross margin improved by 210 bps YoY and 100 bps QoQ to 35% while operating profit margin recorded 14.4% cf 8.8% during 1Q2012. Net earnings dipped 3.8% on a QoQ [...]
Ceylon Grain Elevators [GRAN: LKR51.1] ANALYST SIGNAL: ‘‘UNDERWEIGHT’’ EARNINGS TALK: Ceylon Grain Elevators [GRAN: LKR51.1] concluded 1Q2013 with net earnings growth of 220% YoY at LKR17.5 mn. Gross margin dipped 500 bps to 4% during 1Q2013 while EBIT margin dipped 400 bps YoY to 2% GRAN battled the quarter with the price control of [...]
Piramal Glass [GLAS: LKR6.6] ANALYST SIGNAL: ‘‘LT BUY’’ EARNINGS TALK: Piramal Glass [GLAS: LKR6.6], the sole flacconage glass manufacturer in Sri Lanka concluded 4QFY13 with net earnings growth of 11% YoY at LKR110 mn while full year earnings grew 6% YoY to LKR724 mn. GP margin saw an improvement of 100 bps YoY to 29% [...]
Ceylon Tobacco Company [CTC: LKR804.7] ANALYST SIGNAL: ‘‘UNDERWEIGHT’’ EARNINGS TALK: Ceylon Tobacco Company [CTC: LKR804.7] recorded net earnings of LKR1,463 mn (-2.0% YoY) backed by a marginal dip in gross revenue coupled with gross margin and EBIT margin dipping 100 bps YoY to 20% and 13% respectively. FORECASTS & VALUATIONS We revise [...]
Chevron Lubricants Lanka [LLUB: LKR229.9] ANALYST SIGNAL: ‘‘NEUTRAL’’ EARNINGS TALK: Chevron Lubricants Lanka [LLUB: LKR229.9], the country’s market leader for lubricants concluded 1Q2013 with net earnings up 16% YoY and 35% QoQ at LKR770 mn. Gross margin improved by 500 bps YoY to 38% while PBT margin was enhanced by 500 bps [...]
Piramal Glass [GLAS: LKR6.0] ANALYST SIGNAL: ‘‘BUY’’ EARNINGS TALK Piramal Glass [GLAS: LKR6.0], the sole flacconage glass manufacturer in Sri Lanka concluded 3QFY13 with earnings broadly flat at LKR207 mn while 9 months performance witnessed earnings surge 5% YoY to LKR621 mn. Its GP margin dipped 400 bps YoY to 25% during 3QFY13 while PBIT [...]
Chevron Lubricants Lanka [LLUB: LKR216.9] ANALYST SIGNAL: ‘‘NEUTRAL’’ EARNINGS TALK: Chevron Lubricants Lanka [LLUB: LKR216.9], the spearhead in the Sri Lanka’s lubricant market concluded 4Q2012 with net earnings broadly flat at LKR571 mn (+2.0% YoY) while full year earnings for 2012 registered a 14% YoY growth to reach LKR2,288 mn. The dip in earnings [...]
Ceylon Tobacco Company [CTC: LKR830.0] ANALYST SIGNAL: ‘UNDERWEIGHT’ Earnings Talk : Ceylon Tobacco Company [CTC: LKR830.0]: We revise our forecasts upwards to LKR8.9 bn (+8.0% YoY) for 2013E with continued price increases outweighing the impact from the slowing pattern of volume. However with guaranteed price increases strongly supported by price inelastic demand for cigarettes and [...]
Ceylon Tobacco Company [CTC: LKR830.0] ANALYST SIGNAL: ‘UNDERWEIGHT’ Earnings Talk : Ceylon Tobacco Company [CTC: LKR830.0]: We revise our forecasts upwards to LKR8.9 bn (+8.0% YoY) for 2013E with continued price increases outweighing the impact from the slowing pattern of volume. However with guaranteed price increases strongly supported by price inelastic demand for cigarettes and [...]
Textured Jersey [TJL: LKR10.1] ANALYST SIGNAL: ‘BUY’ Earnings Talk : Textured Jersey [TJL LKR10.1], Sri Lanka’s leader in cotton blended fabrics recorded a striking 95% YoY growth in earnings during 3QFY13, with cumulative earnings for the 9 months surpassing FY12’s full year net earnings of LKR628 mn to LKR694 mn. The solid growth in earnings [...]
DFCC, the 1st Specialized Development Bank in the country, expanded into commercial banking during 2003 by acquiring its 99% owned subsidiary DFCC Vardhana bank (DVB) which operates as a Licensed Commercial Bank (LCB). The two entities are operationally merged despite existing as two separate legal entities. DFCC embarked an aggressive expansionary drive in its commercial [...]
TJL, one of the largest knit apparel fabric manufacturers backed by two globally acclaimed apparel industry leaders, is well poised for growth via its expansion strategy coupled with the streamlining of operations. A significant cost advantage is likely to flow into the bottom line which is expected to grow at a CAGR of 38% FY12-15E [...]