Weekly Plus - 2013 Issue 30 (26.07.2013)

7/27/2019 Weekly Plus - 2013 Issue 30 (26.07.2013)

1/12

2013 Issue 30 Week Ending 26-07-2013

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:Piramal Glass Quick view on earnings Pg 09

Our Core Coverage Pg 10- Pg 11


2/12

Current WoW %

ASPI 6051.77 0.2%

S&P SL20 3427.87 0.5%

Turnover (LKR 'bn) 1,393.5 -49.4%

Volume ('mn) 56.7 -38.7%

Market Cap. (LKR 'bn) 2,328.9 0.2%

LKR ('mn) Current WoW %

Foreign Purchases 439.9 -66.8%

Foreign Sales 144.4 -69.0%

Net Foreign Inflow 295.5 -65.7%

Foreign Participation 33% 104.3%

Net Foreign 490 295

Current WoW %

PER 16.0 -0.4%

PBV 2.2 -1.1%

DY 2.6 0.0%

Current WoW %

BANKS FINANCE & INS. 12,174.2 1.0%

BEV. FOOD & TOBACCO 15,675.1 1.8%

CHEM. & PHARMA. 7,167.8 3.4%

CONS. & ENG. 2,610.9 1.2%

DIVERSIFIED 1,821.1 1.4%

HEALTH CARE 582.1 1.1%

HOTELS & TRAVELS 3,554.3 1.7%

SAMPATH (+) 1.81% AITKEN SPENCE -0.05% LAND & PROPERTY 506.0 3.2%

CHEVRON (+) 0.38% KEGALLE -12.35% MANUFACTURING 2,606.0 1.2%

JKH 0.03% TOKYO CEMENT -0.19% MOTORS 15,430.7 2.5%

DIALOG (+) 0.06% AHOT PROPERTIES -0.1% PLANTATIONS 808.2 0.9%

TEXTURED JERSEY 0.90% NATIONS TRUST (+) -0.08% TELECOM 163.5 1.3%

Growth in

Value

LKR 'mn

65.1

44.4

43.5

38.7

31.9

-9.0

-2.9

-2.1

-1.6

860

3409.16

2,754.8

16.1

2.2

2.6

Previous

12,051.5

15,397.6

860.2

16%

1,325.9

465.7

92.5

2,324.8

Previous

Weekly Stat Page

Previous

Weekly Market Statistics

Weekly Foreign Flow

Weekly Market Valuations

Weekly Sector Statistics

Decline in

Foreign

Holding 3,493.7

2,576.4

15,058.4

Previous

6041.06

800.8

161.4

126

490.4

Change in Foreign Holding

Decline in

Value

LKR 'mn

Decline in Foreign Holding

Growth in

Foreign

Holding

Growth in Foreign Holding

2,580.3

1,796.8

575.6

6,934.3

-10.6

5,850

5,9005,950

6,000

6,050

6,100

6,150

6,200

Daily Index Movement

ASPI

0

50

100

150

200

0

500

1,000

1,500

2,000

2,500

3,000

3,500

5-Jul 12-Jul 19-Jul 26-Jul

('Mn)

LKR('Mn)

Weekly Turnover and Volume

Turnover (LHS) Volume (RHS)

0

200

400

600

800

1,000

1,200

1,400

5-Jul 12-Jul 19-Jul 26-Jul

LKR('Mn)

Weekly Foreign Purchases and Sales

Foreign Buying Foreign Sales

0%

10%

20%

30%40%

50%

60%

Daily Foreign Activity

Fo re ign Activity Line ar (F oreign Activity)

Page | 2


3/12


4/12

DIVIDENDS

RIGHTS ISSUE

The Kingsbury Plc

Pelwatte Sugar

S&P SL20 Companies Previous WoW % ###

JOHN KEELLS HOLDINGS 260.00 3.08% ###

COMMERCIAL BANK 116.70 -0.51% ###THE BUKIT DARAH 687.40 -0.16% SCRIP DIVIDEND

HATTON NATIONAL BANK 152.00 1.32%

CARSONS CUMBERBATCH 425.00 -1.20%

SAMPATH BANK 197.00 2.59%

CEYLON TOBACCO COMPANY 999.50 -1.94%

DFCC BANK 130.00 -0.85% CAPITALIZATION OF RESERVES

AITKEN SPENCE 124.70 0.16%

NATIONAL DEVELOPMENT BANK 165.00 0.67%

C T HOLDINGS 140.00 3.50%

DISTILLERIES 188.10 1.12%HAYLEYS 302.00 0.00% SUBDIVISION OF SHARES

CHEVRON LUBRICANTS LANKA 315.40 0.25%

DIALOG AXIATA 8.60 0.00%

CARGILLS (CEYLON) 163.50 -0.92%

AITKEN SPENCE HOTEL HOLDINGS 69.00 4.35% CONSOLIDATION OF SHARES

NESTLE LANKA 1,928.00 -0.79%

ASIAN HOTELS & PROPERTIES 70.00 -2.14%

SRI LANKA TELECOM 40.30 0.00%

124.90

166.10

144.90

190.20302.00

316.20

8.60

162.00

72.00

Current

268.00

116.10686.30

154.00

419.90

202.10

980.10

128.90

0

30-07-2013

02-09-2013

Delayed

31-07-2013

0.20

2.50

1.75

1.20

1.50

00

0

0

12-08-2013

Renunciation

0

XR Date

Delayed

0

08-08-2013

08-08-2013

08-08-2013

Tokyo Cement Company (Lanka) 01 for 10 @ LKR17.35

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

EGM Date Trading Date

1,912.70

68.50

40.30

0-Jan-19000-Jan-1900

0-Jan-1900

Senkadagala Finance PLC

Kelani Cables PLC

0.40

0.70

0

Vallibel Power Erathna PLC

Colombo Investment Trust PLC

York Arcade Holdings PLC

Vallibel one PLC

29-07-2013

29-07-2013

30-07-2013

06-08-2013

06-08-2013

07-08-2013

Payment

Proportion

Announcements

Company Dividend (LKR)

31-07-2013

31-07-2013

08-08-2013

31-07-2013

1.00

XD Date

91,897,500

15,526,337

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

33,796,92934,929,310

S & P SL20 Debrief

3,476,774

10,886,091

2,115,222

0-Jan-1900

Ceylon Guardian Investment Trust

Ceylon Investment PLC

15-08-201303 for 08 @ LKR10.0

01 for 04 @ LKR18.0

0Turnover

227,341,724

Company

0-Jan-1900

21,817,708

0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900

Company Proportion EGM Date Trading Date

0-Jan-1900

Company Proportion

61,418,556

18,118,753

2,434,170

2,096,813

51,915,689

80,084,175

214,176

624,685

2,945,793

2,447,010

702,365

0-Jan-1900 0-Jan-1900

08-08-2013

0 0

0-Jan-1900 0 0

12-08-2013

0-Jan-1900

3,250

3,300

3,350

3,400

3,450

3,500

Daily Index Movement

S&P SL20

Page | 4


5/12

Local Economy

CURRENCY MOVES

122

124

126

128

130

132

LKR USD : LKR

1.15

1.20

1.25

1.30

1.35

1.40

LKR Japanese Yen : LKR

155

160

165

170

175

180

LKR EURO : LKR

96

98

100

102

104

106

LKR Singapore Dollar : LKR

180

185

190

195

200

205

LKR GBP : LKR

2.00

2.052.10

2.15

2.20

2.25

2.30

2.35

2.40

LKR Indian Rupee : LKR

Page | 5


6/12

BALANCE OF TRADE TOURISM

For the Month Ending: May-13 For the Month Ending:

May-13 MoM % May-12 2013 2012

Exports 794 14% 806 Jun-13 73,628 65,245

Imports 1,549 2% 1,575 YTD 512,281 452,867

Balance of Trade -755 9% -769

COLOMBO TEA AUCTION STATISTICS

Sale of

10-Jul-13 WoW %

High Grown 362.77 2.93%

Mid Grown 353.37 -2.34%

Low Grown 433.79 -0.19%

Total 406.25 0.42%

COLOMBO RUBBER AUCTION STATISTICS

For the Month Ending: Jun-2013

Jun-13 Basis Points Sale of

Point to Point 6.8% 50 11-Jul-13 WoW %

Annual Average Chang 8.6% 20 RSS 1 390.00 4.00%

1-Yr T-Bill 12.37% -151 Brown Crepe 1X 395.00 1.28%

361.82

434.61

404.54

May-13

7.3%

8.8%

10.86%

Sale of

02-Jul-13

375.00

390.00

Sale of

18-Jun-13

Corres. 2012

3.95%

2.63%

WoW %

-2%

2%

355.36

346.62

431.12

399.00

Local Economy

Elevation

Jun-13

INFLATION & INTEREST RATE

Apr-13

-825

Sale of

697

1,522

13%

13%

1.82%

380.00

380.00

YoY %

-1%

Elevation

2.09%

1.95%

0.62%

03-Jul-13

352.43

YoY %

Change %

-1,200

-800

-400

0

400

800

1,2001,600

2,000

Balance of Trade

Exports Imports Balance of Trade

20,000

40,000

60,000

80,000100,000

120,000

140,000

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%

Jun-13Apr-13Feb-13Dec-12Oct-12Aug-12Jun-12

Inflation and Treasury Bill Rate

1-Yr T-Bill Point to Point Annual Average Change

Page | 6


7/12

Global Markets

EQUITY MARKET OUTLOOK

14,000

14,500

15,000

15,500

16,000

Index

Dow Jones Industrial Average

5,600

5,800

6,000

6,200

6,400

6,600

6,800

7,000

Index FTSE 100 Index

1,500

1,550

1,600

1,650

1,700

1,750

Index S&P 500 Index

7,000

9,000

11,000

13,000

15,000

17,000Index Nikkei 225

2,300

2,400

2,500

2,600

2,700

2,800

2,900IndexEURO STOXX 50 Price EUR

17,000

18,000

19,000

20,000

21,000

22,000

23,000

24,000Index Hong Kong Hang Seng Index

Page | 7


8/12

WTI Crude USD/bbl 104.84 -2.9%

Gold USD/t oz. 1,328.80 3.3%Copper USd/lb. 314.85 1.0%

Cotton USd/lb. 85.45 0.7%

Wheat USd/bu. 656.75 -1.0%

108.01

Global Markets

84.85

663.50

CommodityThis

Week

Last

Week

WoW

Change

1,286.90311.75

GLOBAL COMMODITY TREND

80

85

90

95

100

105

110

USD/bbl

WTI CRUDE FUTURE

747678

808284868890

USd/lb. COTTON NO.2 FUTURE

0

500

1,000

1,500

2,000

USD/t oz.

GOLD 100 OZ FUTURE

620

640

660

680

700

720

740

USd/bu. WHEAT FUTURE(CBT)

280

290

300

310

320

330

340

350

USd/lb.

COPPER FUTURE

Page | 8


9/12

Softlogic Equity ResearchPage | 9

GLAS earnings gained 142% YoY to LKR358 mn backed by the part sale of Rathmalana land at a consideration of LKR355

mn translating into a capital gain of LKR296 mn. Therefore excluding the capital gain on the land, profit for 1QFY14 reads

LKR61.4 mn denoting a dip of 58% YoY.

Volumes down: Revenue for 1QFY14 denoted a 5.4% dip backed by slowdown in domestic and export segments. Domestic

revenue dipped 1.7% YoY to LKR916 mn due to low demand in the liquor and aerated water segments. Export revenue dipped 15%

YoY primarily due to the devaluation of the Indian rupee by 6% YoY during 1QFY14 resulting in exports to India being relatively

expensive (See Appendix 1 below).

GP Margin Erosion: GP Margin saw a dip of 620 bps YoY to 21% led by the weighted average industry electricity tariff hike of 15% with effect from 1st

April 2013 (see Appendix 2

below) as highlighted in our 4QFY13 earnings review on GLAS. This resulted in a rise in direct and indirect costs of raw material and packaging. Operating costs dipped 10% YoY

reflecting a 17% YoY dip in administration costs resulting from the exchange gains stemming from the 3% YoY appreciation of the rupee.

The balance portion of the land is expected to be sold in 3QFY14 at a consideration of LKR415 to Ideal Motors Ltd as

disclosed today hence FY14E is expected to post higher earnings reflecting the one-off gains of land sales however

growth on normalized terms is likely to be marginal as a result of the post electricity hike effect.

We expect 2HFY14 revenue growth to be restored via new product development in Australian and New Zealand

Markets undertaken during 1QFY14 and a gradual decline in gearing level via utilizing the profit from sale of land to

payoff long term debt.

Our 4QFY13 earnings review on GLAS highlighted a downgrade in net earnings to a Long Term Buy as a result of

the expected impact from the electricity hike of 15% and the time taken to pass on these costs to consumers.

Hence we maintain our rating at Long Term Buy with marginal normalized earnings growth highlighting DY of

6.6% for FY14E and 7.0% for FY15E.

LKR ('mn) 1QF Y14 1QFY 13 Y oY % 4QFY 13 QoQ %

Revenue 1,223 1,293 -5% 1,345 -9%

Gross Profit 263 358 -26% 387 -32%

Gross Margin 21% 28% 29%

PBIT 424 207 105% 198 114%

PBIT margin 35% 16% 15%

Net Profit 358 148 142% 111 223%

Net Profit Margin 29% 11% 8%

Quarterly Performance


10/12


Name Y/E Rec Mkt Price NAVPS P / BV DPS

26-Jul-13 M ar '1 2 M a r' 13 M ar '1 4E M ar '1 5E M ar '1 2 Ma r' 13 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 e c' 12 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 181.10 16,109 104.9 18,994 153.59 1.18 2,675 3,041 3,437 3,829 3,057 25.51 2 9.00 3 2.77 3 6.51 29.14 46 14 13 11 7.1 6.2 5.5 5.0 6.2 1.7 0.9 16.6

Ceyl inco Insura nce CINS.N0000 D 1,264.60 14,202 26.4 33,404 537.64 2.35 1,508 1,953 2,006 57.08 73.94 75.96 57 30 22.2 17.1 16.6 1 2.5 1.0 10.6

Co mm erc ia l B an k CO MB .N 00 00 D Buy 116.10 52,962 848.6 98,528 62.41 1.86 8,048 10,080 11,806 14,510 9,462 9.48 1 1.88 13.91 1 7.10 11.15 46 25 17 23 12.2 9.8 8.3 6.8 10.4 4.5 3.9 15.2

C om m er ci a l B a nk [ X] C OM B. X0 00 0 D Buy 94.10 52,962 848.6 79,857 62.41 1.51 8,048 10,080 11,806 14,510 10,056 9.48 1 1.88 1 3.91 1 7.10 11.15 46 25 17 23 9.9 7.9 6.8 5.5 8.4 4.5 4.8 15.2

DFCC Bank DFCC.N0000 M MTB 128.90 28,139 265.1 34,171 106.14 1.21 2,900 3,523 3,453 3,915 3,523 10.94 13.29 13.02 14.77 13.29 (43) 21 (2) 13 11.8 9 .7 9.9 8.7 9.7 5.0 3.9 10.3

H a tt on Na ti o na l B a nk H NB .N00 00 D Buy 154.00 51,055 398.8 61,415 128.02 1.20 6,149 8,111 9,607 11,113 7,815 15.42 2 0.34 2 4.09 2 7.87 19.60 28 32 18 16 10.0 7.6 6.4 5.5 7.9 8.5 5.5 12.0Hatton Nat ional Bank [X] HNB.X0000 D Buy 112.00 51,055 398.8 44,666 128.02 0.87 6,149 8,111 9,607 11,113 8,086 15.42 2 0.34 2 4.09 2 7.87 19.60 28 32 18 16 7.3 5.5 4.6 4.0 5.7 8.5 7.6 12.0

La nk a Ori x Le as ing Co mpa ny LOLC.N0000 M 57.90 1 9,962 475.2 27,514 42.01 1.38 2,933 1 ,863 1,947 6.17 3.92 4.10 ( 24 ) ( 36 ) 9.4 14.8 14.1 0.5 0.9 14.7

LB Fi nance LFIN.N0000 M Buy 1 17 .3 0 5 ,3 29 6 9. 3 8 ,1 24 7 6. 94 1 .5 2 1 ,7 14 1 ,7 03 2 ,1 14 2 ,4 94 1 ,7 71 2 4. 75 2 4. 58 3 0. 52 3 6. 01 2 5. 57 6 8 (1) 24 18 4.7 4.8 3.8 3.3 4.6 5.0 4.3 32.2

National Development Bank NDB.N0000 D Buy 1 66 .1 0 2 2, 92 6 1 64 .7 2 7, 35 6 1 39 .2 1 1. 19 2 ,7 06 8 ,8 54 3 ,5 33 4 ,2 86 8 ,6 60 1 6. 43 5 3. 76 2 1. 45 2 6. 03 5 2. 58 2 6 2 27 (60) 21 10.1 3.1 7.7 6.4 3.2 15.0 9.0 11.8

N a ti o ns T ru s t B a nk N TB .N 000 0 D Buy 63.50 10,113 230.6 14,644 43.85 1.45 1,534 1,951 2,438 2,990 2,012 6.65 8.46 1 0.57 1 2.96 8.72 41 27 25 23 9.5 7.5 6.0 4.9 7.3 2.1 3.3 15.2

Pa n As ia Ba nk PABC.N0000 D Buy 18.10 4,089 295.0 5,340 13.86 1.31 824 811 859 995 766 2.79 2.75 2.91 3.37 2.60 1 28 (2) 6 16 6.5 6.6 6.2 5.4 7.0 1.0 5.5 20.2

Pe op le 's Le as i ng PLC.N 0000 M Buy 1 4. 30 1 9, 23 6 1, 57 9. 9 2 2, 59 2 12 .1 8 1. 17 4 ,5 42 3 ,0 73 3 ,0 15 3 ,5 90 3 ,0 45 2 .8 7 1 .9 5 1 .9 1 2 .2 7 1 .9 3 7 4 ( 32 ) ( 2) 19 5.0 7.4 7.5 6.3 7.4 0.8 5.2 23.6

S am pa th B an k S AMP.N 0000 D Buy 202.10 27,959 167.8 33,904 166.66 1.21 4,151 5,212 5,636 4,773 24.74 31.07 33.60 28.45 19 26 8 8.2 6.5 6.0 7.1 6.0 3.0 14.8

Seyl an Bank SEYB.N0000 D 64.70 19,775 345.0 22,319 57.32 1.13 1,006 2,063 2,170 2.92 5.98 6.29 (17) 105 22.2 10.8 10.3 1.0 1.5 5.1

La nk a Ori x Fi na nce LOF C.N0000 M 3.00 5,424 2,800.0 8,400 1.94 1.55 1,246 686 898 1,026 629 0.44 0.25 0.32 0.37 0.22 ( 0) ( 45 ) 31 14 6.7 12.2 9 .4 8.2 13.4 - - 23.0

Sample Sector (16) 297,279 7,771.2 416,704 38.25 1.40 41,935 52,924 69,778 5.40 6.81 8.98 19 26 9.9 7.9 6.0 14.1

Full Sector (60) 546,582 1.48 8.3

Beverage, Food and Tobacco

Cargi l l s CARG.N0000 M 162.00 7,760 224.0 36,288 34.64 4.68 1,079 578 577 4.82 2.58 2.58 ( 1) ( 46 ) 33.6 62.8 62.9 2.0 1.2 13.9

Ce yl on T ob acco Co mp an y CT C.N 0000 D 980.10 3,660 187.3 1 83,596 19.54 50.16 6,569 8,176 8,685 9,432 8,152 35.07 43.65 46.36 50.35 43.52 29 24 6 9 27.9 22.5 21.1 19.5 22.5 45.2 4.6 179.5

Di sti ll eri es DI ST.N0000 M LTB 190.20 49,381 300.0 57,060 164.60 1.16 5,675 5,520 5,816 6,452 5,520 18.92 18.40 19.39 21.51 18.40 ( 30 ) ( 3) 5 11 10.1 10.3 9.8 8.8 10.3 3.0 1.6 11.5

L io n B re we ry L IO N. N0 00 0 M 3 80. 00 5 ,91 0 8 0. 0 3 0, 400 7 3. 88 5 .14 1 ,26 2 1 ,0 46 1, 14 6 1 ,5 53 1 ,04 6 1 5. 78 1 3. 07 1 4. 33 1 9. 41 1 3. 08 2 5 (17) 10 35 24.1 29.1 26.5 19.6 29.1 4.0 1.1 21.4

N es tl e ( La nk a) N EST .N 0000 D 1,912.70 3,071 53.7 102,761 57.17 33.46 2,633 2,994 3,281 3,711 3,446 49.01 5 5.73 6 1.07 6 9.08 64.15 39 14 10 13 39.0 34.3 31.3 27.7 29.8 54.0 2.8 85.7

Sample Sector (5) 69,783 845.0 410,105 82.58 5.88 17,219 18,313 18,742 20.38 21.67 22.18 0 6 23.8 22.4 21.9 24.7

Full Sector (20) 475,468 4.28 19.6

Chemicals & Pharmaceuticals

CIC Hol di ngs CIC.N0000 M 62.00 7,760 94.8 5,876 81.88 0.76 863 231 239 9.11 2.44 2.52 ( 7) ( 73 ) 6.8 25.4 24.6 0.6 1.0 11.1

La nkem Ceyl on LCEY.N0000 M 140.50 4,459 24.0 3 ,372 185.81 0.76 513 297 307 21.39 12.36 12.80 ( 55 ) ( 42 ) 6.6 11.4 11.0 2.5 1.8 11.5

Sample Sector (2) 12,219 118.8 9,248 102.88 0.76 1,376 528 546 11.59 4.44 4.60 ( 33) ( 62) 6.7 17.5 16.9 11.3

Full Sector (10) 20,594 0.98 13.3

Construction & Engineering

Col omb o Dock ya rd DOCK.N0000 D 218.00 10,172 71.9 15,665 141.55 1.54 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.7 7.9 10.0 8.0 3.7 17.7

Sample Sector (1) 10,172 71.9 15,665 141.55 1.54 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.7 7.9 10.0 17.7

Full Sector (4) 19,605 1.33 5.2

Diversified Holdings

Aitken Spence SPEN.N0000 M 124.90 28,053 406.0 50,709 69.10 1.81 3,488 3,267 3,267 8.59 8.05 8.05 38 (6) 14.5 15.5 15.5 1.5 1.2 12.4

CT Holdings CTHR.N0000 M 144.90 13,219 183.1 26,531 72.20 2.01 1,159 1,150 1,150 6.33 6.28 6.28 34 (1) 22.9 23.1 23.1 2.1 1.4 8.8

Ca rs ons Cu mbe rba tch CARS.N0000 M 419.90 34,692 196.4 8 2,463 176.65 2.38 7,017 4,570 4,014 35.73 23.27 20.44 55 (35) 11.8 18.0 20.5 2.0 0.5 20.2

Exp o la n ka H ol d i ng s EXP O. N0 00 0 M LTB 6.50 9,081 1,954.9 12,707 4 .65 1.40 1,033 1 ,061 1 ,302 1,061 0 .53 0.54 0.67 0.54 (33) 3 23 12.3 12.0 9.8 12.0 0.1 1.8 11.4

Ha yleys HAYL.N0000 M 302.00 22,459 75.0 22,650 299.45 1.01 1,038 1,854 1,855 13.84 24.72 24.73 43 79 21.8 12.2 12.2 4.0 1.3 4.6

Hemas Holdings HHL.N0000 M 33.30 12,153 515.3 17,159 23.59 1.41 1,165 1,658 1,658 2.26 3.22 3.22 (4) 42 14.7 10.4 10.4 0.5 1.5 9.6

John Keell s Holdi ngs JKH.N0000 M 268.00 89,819 857.8 229,879 104.71 2.56 9,687 12,201 12,201 11.29 14.22 14.22 17 26 23.7 18.8 18.8 3.5 1.3 10.8

Richa rd Pei ri s RICH.N0000 M 7.00 7,949 1,958.1 13,707 4.06 1.72 2,575 1,903 1,903 1.32 0.97 0.97 53 (26) 5.3 7.2 7.2 0.7 10.0 32.4

Softl ogic Hol di ngs SHL.N0000 M 9.30 8,040 779.0 7 ,245 10.32 0.90 483 301 301 0.62 0.39 0.39 ( 42 ) ( 38 ) 15.0 24.1 24.1 0.3 3.2 6.0

Va ll ib el One VONE.N0000 M Buy 18.00 27,640 1,086.6 19,558 25.44 0.71 2,025 1,403 2,323 1,403 1.86 1.29 2.14 1.29 2 50 (31) 66 9.7 13.9 8.4 13.9 0.3 1.7 7.3

Sample Sector (10) 253,107 8,012.1 482,607 31.59 1.91 29,669 29,367 28,812 3.70 3.67 3.60 30 (1) 16.3 16.4 16.8 11.7

Full Sector (18) 520,465 1.78 15.5

Healthcare

Asi ri Hospital Hold. ASIR.N0000 M 14.00 6,430 1,099.1 15,387 5.85 2.39 600 777 777 0.55 0.71 0.71 215 29 25.6 19.8 19.8 0.3 1.8 9.3

Na wal oka Hos pi ta ls NHL.N0000 M 2.90 3 ,781 1,409.5 4,088 2.68 1.08 271 454 454 0.19 0.32 0.32 (75) 68 15.1 9.0 9.0 0.1 1.7 7.2

La nka Hos pi tal s LHCL.N0000 D 39.00 27,164 223.7 8,726 121.41 0.32 437 384 482 1.95 1.72 2.15 51 (12) 20.0 22.7 18.1 0.5 1.3 1.6

Sample Sector (3) 37,375 2,732.3 28,200 13.68 0.75 1,308 1,616 1,713 0.48 0.59 0.63 (16) 24 21.6 17.5 16.5 3.5

Full Sector (6) 42,683 1.94 11.7

Book Val. Share

Cap.

Market

Cap.ROE

(%)

Trailing

DY (%)4Q

Trailing

4Q

Trailing

4Q

Trailing

Earnings EPS EPS Growth (%) PER


11/12


Name Y/E Rec Mkt Price NAVPS P / BV DPS

26-Jul-13 M ar '1 2 M a r' 13 M ar '1 4E M ar '1 5E M ar '1 2 Ma r' 13 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 e c' 12 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 72.00 12,926 3 36.3 2 4,213 38.44 1.87 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 17.6 13.6 11.3 13.6 1.0 1.4 10.7

Ama ya Le is ure CONN.N0000 M 80.90 2,472 48.0 3,886 51.47 1.57 293 377 376 374 6.09 7 .84 7 .83 7.79 (38) 29 (0) 13.3 10.3 10.3 10.4 4.0 4.9 11.8

As ia n Hotels & Prop. AHPL.N0000 M 68.50 21,697 442.8 3 0,330 49.00 1.40 2,149 2,494 2,623 2,492 4.85 5.63 5.92 5.63 21 16 5 14.1 1 2.2 11.6 12.2 4.0 5.8 9.9

Keel ls Hotel s KHL.N0000 M 13.20 16,294 1,456.1 19,221 11.19 1.18 1,105 1,121 1,496 1,121 0.76 0.77 1.03 0.77 111 1 33 17.4 17.1 12.8 17.1 0.3 2.3 6.8

Ta j TAJ.N0000 M 27.40 2,330 139.6 3,826 16.69 1.64 125 246 293 224 0.89 1.76 2.10 1.61 26 97 19 30.7 15.6 13.1 17.1 0.0 0.0 5.4

Tra ns As ia TRAN.N0000 M 78.70 6,054 200.0 15,740 30.27 2.60 625 1,066 1,180 1,066 3.12 5 .33 5 .90 5.33 (5) 71 11 25.2 14.8 13.3 14.8 2.0 2.5 10.3

Sample Sector (6) 61,773 2,622.9 97,216 23.55 1.57 5,674 7,086 8,116 6,059 2.16 2.70 3.09 2.31 24 25 15 17.1 13.7 12.0 16.0 9.2

Full Sector (36) 147,750 1.35 16.9

Land and Property

Col ombo La nd CLND.N0000 D 44.50 3,712 1 99.9 8,895 18.57 2.40 10 335 -90 12 48 0.05 1.68 (0.45) 0 .0 6 0 .2 4 (98) 3,393 (127) 113 927.4 26.5 N/A 741.2 183.6 0.0 0.0 0.3

Ove rs ea s R ea l ity OS EA .N 0000 D 18.50 22,437 843.5 15,604 26.60 0.70 2,681 2,469 1,924 2,158 2,991 3.18 2.93 2.28 2.56 3.55 218 ( 8) ( 22 ) 12 5.8 6.3 8.1 7.2 5.2 0.3 1.6 11.9

Sample Sector (2) 26,149 1,043.4 2 4,499 25.06 0.94 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 9.1 8 .7 13.4 11.3 8.1 1.0 10.3

Full Sector (18) 41,406 0.89 9.6

Manufacturing

ACL Cabl es ACL.N0000 M 69.70 5,718 59.9 4,175 95.47 0.73 485 532 543 8.10 8.88 9.06 127 10 8.6 7.8 7.7 1.0 1.4 8.5

Gra in El eva to rs GR AN.N 0000 D 40.20 2,684 60.0 2,412 44.74 0.90 388 135 100 106 150 6.46 2.24 1.67 1.77 2.49 ( 18) ( 65 ) ( 26 ) 6 6.2 17.9 24.1 22.8 16.1 0.0 0.0 14.4

C he vr on L ub ri ca nt s L LU B. N0 00 0 D Hold 316.20 4,536 120.0 37,944 37.80 8.37 2,001 2,288 2,526 2,621 2,396 16.67 1 9.06 2 1.05 2 1.84 19.97 33 14 10 4 19.0 16.6 15.0 14.5 15.8 11.0 3.5 44.1

La nk a Wa ll ti le LWL.N0000 M LTB 63.40 4,618 54.6 3,462 84.57 0.75 731 520 545 600 520 13.39 9.52 9.98 1 0.99 9.52 51 (29) 5 10 4.7 6.7 6.4 5.8 6.7 4.0 6.3 15.8

Pi ra ma l Gl as s GLAS.N0000 M LTB 5.90 3,629 950.1 5,606 3.82 1.54 686 724 761 813 732 0.72 0.76 0.80 0.86 0.77 19 5 5 7 8.2 7.7 7.4 6.9 7.7 0.4 6.1 18.9

R oya l Ce ra mi c R CL.N0000 M LTB 9 7. 40 8 ,4 01 1 10 .8 1 0, 79 1 7 5. 83 1 . 28 1 ,2 43 1 ,6 70 1 ,8 44 2 ,1 90 1 ,7 52 1 1 .2 2 1 5. 07 1 6. 64 1 9. 77 1 5. 81 (14) 34 10 19 8.7 6.5 5.9 4.9 6.2 2.0 2.1 14.8

T extu re d J ers ey T JL.N 0000 M Buy 1 3. 10 5 ,7 32 6 55 .0 8 ,58 1 8 .7 5 1 .5 0 6 28 1 ,01 7 1 ,1 86 1 ,4 83 1 ,01 7 0 .9 6 1 .55 1 .8 1 2 .2 6 1 .5 5 (8) 62 17 25 13.7 8 .4 7.2 5.8 8.4 0.7 5.0 11.0

Tokyo Cement TKYO.N0000 M 25.80 6,722 303.8 7,837 22.13 1.17 979 828 828 3.22 2.73 2.73 14 (15) 8.0 9.5 9.5 1.3 5.0 14.6

Sample Sector (8) 42,040 2,314.1 80,806 18.17 1.92 7,141 7,713 7,937 3.09 3.33 3.43 15 8 11.3 10.5 10.2 3.7 17.0

Full Sector (36) 107,203 1.43 8.7

Motors

Coloni al Motors COLO.N0000 M 99.00 3,813 15.2 1,505 250.88 0.39 453 120 22 29.80 7.91 1.47 95 (73) 3.3 12.5 67.5 4.0 4.0 11.9

Di es el & Motor En gi ne eri ng DI MO.N0000 M 508.40 7,631 8.9 4,513 859.71 0.59 2,702 462 462 304.36 52.06 52.05 2 7 (83) 1.7 9.8 9.8 40.0 7.9 35.4

Uni ted Motors UML.N0000 M 110.20 7,371 67.3 7,413 109.57 1.01 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.2 3.7 3.7 6.0 5.4 31.0

Sample Sector (3) 18,815 91.3 13,430 205.98 0.71 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.5 5.2 5.4 6.1 28.9

Full Sector (6) 22,677 1.01 6.7

Oil Palms

Buki t Da ra h BUKI.N0000 M 686.30 31,845 102.0 70,003 312.21 2.20 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 13.9 15.9 3.0 0.4 22.9

Sample Sector (1) 31,845 102.0 70,003 312.21 2.20 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 13.9 15.9 3.0 0.4 22.9

Full Sector (5) 99,957 1.82 19.5

Plantations

Bal angoda BALA.N0000 D 25.40 2,638 23.6 600 111.60 0.23 25 118 62 1.08 5.01 2.64 (85) 366 23.6 5.1 9.6 0.0 1.0

Hora na HOPL.N0000 M 23.60 1,489 25.0 590 59.57 0.40 87 220 201 3.49 8.82 8.04 (73) 152 6.8 2.7 2.9 1.0 5.9

Kega ll e KGAL.N0000 M 102.10 3,349 25.0 2,553 133.97 0.76 769 544 542 30.77 21.74 21.70 ( 8) ( 29 ) 3.3 4.7 4.7 7.5 7.3 23.0

Kela ni Val ley KVAL.N0000 D 77.00 2,515 34.0 2,618 73.98 1.04 460 584 650 13.54 17.19 19.12 44 27 5.7 4.5 4.0 6.0 7.8 18.3

Kota ga la KOTA.N0000 M 48.60 3,426 40.0 1,944 85.64 0.57 439 517 378 10.97 12.92 9.44 (34) 18 4.4 3.8 5.1 2.0 4.1 12.8

Wa ta wal a WATA.N0000 M 11.70 3,843 236.7 2,769 16.24 0.72 455 680 755 1.92 2.87 3.19 (29) 49 6.1 4.1 3.7 0.4 11.8

Sample Sector (6) 17,261 384.3 11,074 44.91 0.64 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 5.0 4.2 4.3 13.0

Full Sector (18) 24,093 0.69 4.3

Power and Energy

La nka IOC LIOC.N0000 M 25.20 13,028 532.5 13,420 24.46 1.03 906 2,911 2,911 1.70 5.47 5.47 3 221 14.8 4.6 4.6 0.0 7.0

Val l i be l VPEL.N0000 M 6.30 1,823 747.1 4,707 2.44 2.58 249 289 301 0.33 0.39 0.40 (41) 16 18.9 16.3 15.6 0.3 4.0 13.6La ugfs Gas LGL.N0000 M 26.20 6,488 387.0 10,139 16.76 1.56 822 1,061 1,021 2.13 2.74 2.64 (4) 29 12.3 9.6 9.9 1.5 5.7 12.7

Sample Sector (3) 21,339 1,666.6 28,266 12.80 1.32 1,977 4,261 4,234 1.19 2.56 2.54 (8) 116 14.3 6.6 6.7 9.3

Full Sector (8) 33,549 1.22 7.2

Telecommunications

Di al og Axia ta DIAL.N0000 D 8.60 38,776 8,143.8 70,036 4.76 1.81 5,354 6,521 7,569 8,156 0.66 0.80 0.93 1.00 6 22 16 13.1 10.7 9.3 8.6 0.3 3.8 13.8

Sri La nka Telecom SLTL.N0000 D 40.30 56,136 1,804.9 72,736 31.10 1.30 4,781 5,329 5,912 4,976 2.65 2.95 3.28 2.76 21 11 11 15.2 13.6 12.3 14.6 0.9 2.1 8.5

Sample Sector (2) 94,912 9,948.6 142,772 9.54 1.50 10,135 11,850 13,481 13,132 1.02 1.19 1.36 1.32 13 17 14 14.1 12.0 10.6 10.9 10.7

Full Sector (2) 145,119 1.53 11.1

Trading

Browns BRWN.N0000 M 110.00 14,696 70.9 7,796 207.36 0.53 1,164 240 240 16.43 3.39 3.39 ( 47 ) ( 79 ) 6.7 32.5 32.5 1.3 1.2 7.9

S in ge r S ri La nk a S IN S.N 0000 D 95.60 4,681 125.2 11,970 37.39 2.56 1,266 1,138 985 10.11 9.09 7.87 90 (10) 9.5 10.5 12.1 6.0 6.3 27.1

Sample Sector (2) 19,378 196.1 19,766 98.82 1.02 2,431 1,378 1,225 12.40 7.03 6.25 ( 15 ) ( 43 ) 8.1 14.3 16.1 12.5

Full Sector (8) 25,926 1.11 19.5

Sample Market (70) 1,013,448 37,920.7 1,850,362 26.73 1.83 138,331 150,117 169,632 195,077 166,270 3.65 3.96 4.47 5.14 4.38 17 9 13 15 13.4 1 2.3 10.9 9.5 11.1 13.6

Total Market (283) 2,334,602 1.69 12.0

Book Val. Share

Cap.

Market

Cap.ROE

(%)

Trailing

DY (%)4Q

Trailing

4Q

Trailing

4Q

Trailing

Earnings EPS EPS Growth (%) PER


12/12


Softlogic Equity Research

Dimantha Mathew

[email protected]

+94 11 7277030

Kavindu Ranasinghe

[email protected]

+94 11 7277031

Imalka Hettiarachchi

[email protected]

+94 11 7277032

Softlogic Equity Sales

Dihan Dedigama

[email protected]

+94 11 7277010, +94 77 7689933

Sonali Abayasekera

[email protected]

+94 11 7277051, +94 77 7736059

Eardley Kern

[email protected]

+94 11 7277053, +94 77 7348018

Thanuja De Silva

[email protected]

+94 11 7277059, +94 77 3120018

Chandima Kariyawasam

[email protected]

+94 11 7277058, +94 77 7885778

Branches

HoranaMadushanka Rathnayaka

No. 212, 1st floor, Panadura road, Horana

[email protected]

+94 34 7451000, +94 77 3566465

MataraLalith Rajapaksha

No. 8A, 2nd

Floor, FN Building,

Station Road, Matara

[email protected]

+94 41 7451000, +94 77 3031159

NegamboKrishan Williams

No. 121, St. Joseph Street Negambo

[email protected]

+94 31 2224714-5, +94 77 3569827

KurunegalaBandula Lansakara

No.13, Rajapihilla Mawatha, Kurunegala

[email protected]

+94 37 2232875, +94 77 3615790

The report has been prepared by Softl ogic Stockbrokers (Pvt) Ltd. The in formation and opin ions 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 guaranty, 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) Lt d may, to the extent permi ssible by applicable law or regulati on, use the above materi al, conclu sions,

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, officers, representatives, employees, related 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 time and may make a pur chase 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 either as pri ncipal or agent.

Softlogi c Stockbrokers may make markets in securiti es or other fi nancial i nstruments descri bed in thi s publi cation, in securiti es of

issuers described here in or i n securi ties underlyin g or related to such securit ies. Softl ogic Stockbrokers (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.

Documents

Weekly Plus - 2013 Issue 30 (26.07.2013)