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7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
1/12
2013 Issue 33 Week Ending 16-08-2013
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:Hatton National BankQuick View on Earnings Pg 09
Our Core Coverage Pg 10- Pg 11
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
2/12
Current WoW %
ASPI 6233.21 1.3%
S&P SL20 3491.55 0.6%
Turnover (LKR 'bn) 3,964.7 116.6%
Volume ('mn) 143.4 57.2%
Market Cap. (LKR 'bn) 2,567.3 8.4%
LKR ('mn) Current WoW %
Foreign Purchases 2,243.7 141.3%
Foreign Sales 1,254.9 121.2%
Net Foreign Inflow 988.8 172.8%
Foreign Participation 21% -46.9%
Net Foreign 295 989
Current WoW %
PER 17.7 8.4%
PBV 2.4 8.4%
DY 2.5 0.0%
Current WoW %
BANKS FINANCE & INS. 13,097.1 0.1%
BEV. FOOD & TOBACCO 22,656.4 7.6%
CHEM. & PHARMA. 6,768.1 -2.8%
CONS. & ENG. 2,899.0 1.2%
DIVERSIFIED 1,911.8 -1.3%
HEALTH CARE 655.9 -0.9%
HOTELS & TRAVELS 3,219.4 -0.7%
HNB[X.0000] (+) 28.92% JKH -0.43% LAND & PROPERTY 572.1 -0.5%
SAMPATH (+) 10.00% CEYLON TOBACCO (+) 0.00% MANUFACTURING 3,053.6 -0.2%
HNB (+) 2.40% COLOMBO LAND (+) -0.15% MOTORS 15,518.4 -0.3%
COMMERCIAL BANK (+) 0.36% KELANI TYRES -0.9% PLANTATIONS 720.1 -0.2%
NESTLE (+) 0.09% HEMAS POWER -2.62% TELECOM 160.9 -0.7%
-971
574.9
Change in Foreign Holding
Decline in
Value
LKR 'mn
Decline in Foreign Holding
Growth in
Foreign
Holding
Growth in Foreign Holding
2,865.0
1,937.8
661.6
6,963.3
-533.6
Weekly Stat Page
Previous
Weekly Market Statistics
Weekly Foreign Flow
Weekly Market Valuations
Weekly Sector Statistics
Decline in
Foreign
Holding 3,241.3
3,060.1
15,557.9
Previous
6151.92
721.8
162.0
3470.16
1,830.6
16.3
2.2
2.5
Previous
13,084.4
21,055.6
362.4
40%
929.7
567.3
91.2
2,367.5
Previous
-4.4
-3.9
-1.6
362
Growth in
Value
LKR 'mn
631.4
347.6
235.3
118.0
108.5
-5.5
5,800
5,900
6,000
6,100
6,200
6,300
Daily Index Movement
ASPI
0
50
100
150
200
0
1,000
2,000
3,000
4,000
5,000
26-Jul 2-Aug 9-Aug 16-Aug
('Mn)
LKR('Mn)
Weekly Turnover and Volume
Turnover (LHS) Volume (RHS)
0
500
1,000
1,500
2,000
2,500
26-Jul 2-Aug 9-Aug 16-Aug
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
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
3/12
Company WoW %
AUTODROME 18.27%
CEYLON PRINTERS 17.60%
SWADESHI 17.50%
CARGO BOAT 15.46%CEYLON TOBACCO 13.68%
Company WoW %
PCH HOLDINGS -36.36%
PC HOUSE -30.00%
SERENDIB LAND -24.71%
CITRUS HIKKADUWA -22.48%
CIFL -18.18%
Company WoW %
JKH -2.84%
HNB[NON VOTING] 2.89%
SAMPATH -1.94%
AITKEN SPENCE -0.16%
HNB 1.64%
Company WoW %
PC HOUSE -30.00%
PCH HOLDINGS -36.36%
PANASIAN POWER 13.64%
EXPOLANKA 8.82%
HNB[NON VOTING] 2.89%
811.00
5,000.30
69.40670.00
52 High 52 Low
52 High 52 Low
12.50 0.50
8.40 0.50
3,000.00 1,105.00
29.80 16.80
11.80 0.80
8.40 0.50
132.50 92.50
242.00 162.50
1,025.00
3,270.00
15,000.00
151.001,400.50
2.20
6.80
110.50
Low
849.70
1,500.00
52 High
12.50
299.80
14,000.00
101.001,195.00
20.00
0.80
250.00
110.50
190.00
120.10
151.30
Weekly Top Losers
Weekly Top Performers
Weekly Top Volume
Low
Low
Low
0.50
0.50
1,310.00
2,991,358
1,602,361
Volume
Turnover
760,982,423
727,333,098
436,667,329
370,885,585
Volume
2,944,557
6,326,948
140.00
52 Low
0.50
192.20
6,326,948
0.50
0.50
19,226,793
10,830,128
9,408,727
6,623,843
176.00
3.30
8.10
132.50
130.10
2.20
5.80
92.50
100.00
2,232,454
High
1,025.00
1,600.00
14,200.00
134.101,400.50
Turnover
2,124,931
16,600
28,200
6,506,32686,776,519
Volume
2,455
11
2
51,88166,299
Previous
846.20
1,283.30
12,000.00
115.101,201.00
Current
1,000.80
1,509.10
14,100.00
132.901,365.30
Weekly Stock Trends
52 Low
406.00
Weekly Top Gainers
52 High
Turnover
7,871,920
14,889,684
6,550
108,219
5,552,419
Volume
10,830,128
19,226,793
5
5,402
5,930,473
High
1.10
1.10
1,310.00
24.50
1.10
152.50
Previous
1.10
1.00
1,740.00
25.80
1.10
High
265.00
116.00
Previous
264.30
110.90
Current
0.70
0.70
1,310.00
20.00
0.90
Current
256.80
114.10
191.80
122.00
155.00
Turnover
14,889,684
7,871,920
Previous
1.00
1.10
245,781,928
198.00
125.00
157.00
195.60
122.20
22,529,008
47,176,190
727,333,098
High
1.10
1.10
2.60
7.50
116.00
2.20
6.80
110.90
Current
0.70
0.70
2.50
7.40
114.10
Page | 3
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
4/12
DIVIDENDS
RIGHTS ISSUE
The Kingsbury
Pelwatte Sugar
S&P SL20 Companies Previous WoW % ###
JOHN KEELLS HOLDINGS 264.30 -2.84% ###
COMMERCIAL BANK 119.00 0.42% ###THE BUKIT DARAH 690.00 0.00% SCRIP DIVIDEND
HATTON NATIONAL BANK 152.50 1.64%
CARSONS CUMBERBATCH 400.00 -1.75%
SAMPATH BANK 195.60 -1.94%
CEYLON TOBACCO COMPANY 1,201.00 13.68%
DFCC BANK 130.80 -0.99% CAPITALIZATION OF RESERVES
AITKEN SPENCE 122.20 -0.16%
NATIONAL DEVELOPMENT BANK 160.10 1.31%
C T HOLDINGS 140.10 0.00%
DISTILLERIES 194.90 -1.13%HAYLEYS 302.00 -0.66% SUBDIVISION OF SHARES
CHEVRON LUBRICANTS LANKA 310.50 -0.81%
DIALOG AXIATA 8.70 -1.15%
CARGILLS (CEYLON) 160.00 -5.00%
AITKEN SPENCE HOTEL HOLDINGS 70.00 -1.43% CONSOLIDATION OF SHARES
NESTLE LANKA 2,251.40 8.43%
ASIAN HOTELS & PROPERTIES 70.00 2.71%
SRI LANKA TELECOM 41.00 -0.24%
370,885,585
10,972,497
1,213,508
1,475,709
8,428,560
2,229,888
1,032,107
627,262
170,400,746
71,741
505,595
0-Jan-1900 0-Jan-1900
08-08-2013
0 0
0-Jan-1900 0 0
12-08-2013
0-Jan-1900 0-Jan-1900
5,288,800
0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900
Company Proportion EGM Date Trading Date
0-Jan-1900
Company Proportion
5,775,370
245,781,928
2,549,947
0-Jan-1900
Kandy Hotels Company
Dankotuwa Porcelain
15-08-201303 for 08 @ LKR10.0
01 for 04 @ LKR18.0
0Turnover
760,982,423
Company
XD Date
436,667,329
86,776,519
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
133,388,6141,525,307
S & P SL20 Debrief
Proportion
Announcements
Company Dividend (LKR)
02-09-2013
12-09-2013
04-10-2013
24-09-2013
1.00Lanka IOC PLC
Convenience Foods Lanka PLC
Harischandra Mills PLC
16-09-2013
20-09-2013
23-09-2013
25-09-2013
30-09-2013
01-10-2013
Payment
Lanka Ventures
Elpitiya Plantations
1.50
25.00
0
Renuka Agri Foods PLC
0-Jan-19000-Jan-1900
0-Jan-1900
EGM Date Trading Date
2,441.30
71.90
40.90
Delayed
0
10-09-2013
20-09-2013
02-10-2013
Tokyo Cement Company 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
0
26-09-2013
02-09-2013
Delayed
27-09-2013
0.10
0.02
0.40
1.00
0.50
00
0
0
07-10-2013
Renunciation
0
XR Date
Current
256.80
119.50690.00
155.00
393.00
191.80
1,365.30
129.50
122.00
162.20
140.10
192.70300.00
308.00
8.60
152.00
69.00
3,300
3,350
3,400
3,450
3,500
3,550
Daily Index Movement
S&P SL20
Page | 4
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
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
205210
LKR GBP : LKR
2.05
2.10
2.15
2.20
2.25
2.30
LKR Indian Rupee : LKR
Page | 5
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
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
07-Aug-13 WoW %
High Grown 392.57 3.20%
Mid Grown 383.46 4.19%
Low Grown 446.96 -1.57%
Total 430.11 0.14%
COLOMBO RUBBER AUCTION STATISTICS
For the Month Ending: Jul-2013
Jul-13 Basis Points Sale of
Point to Point 6.1% 70 08-Jun-13 WoW %
Annual Average Chang 8.3% 30 RSS 1 411.50 0.00%
1-Yr T-Bill 10.56% 181 Brown Crepe 1X 410.00 0.00%
YoY %
Change %
380.00
380.00
YoY %
-1%
Elevation
-4.01%
10.21%
12.69%
31- JUL-13
380.38
697
1,522
13%
13%
9.55%
7.89%
8.29%
WoW %
-2%
2%
408.97
347.95
396.63
392.61
Local Economy
Elevation
Jun-13
INFLATION & INTEREST RATE
Apr-13
-825
Sale of
Sale of
18-Jun-13
Corres. 2012
368.05
454.11
429.51
Jun-13
6.8%
8.6%
12.37%
Sale of
30-Jul-13
411.50
410.00
-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%
Jul-13May-13Mar-13Jan-13Nov-12Sep-12Jul-12
Inflation and Treasury Bill Rate
1-Yr T-Bill Point to Point Annual Average Change
Page | 6
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
7/12
EQUITY MARKET OUTLOOK
Global Markets
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
18,000
19,000
20,000
21,000
22,000
23,000Index Hong Kong Hang Seng Index
Page | 7
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
8/12
WTI Crude USD/bbl 107.39 1.1%
Gold USD/t oz. 1,361.90 2.7%Copper USd/lb. 336.85 2.1%
Cotton USd/lb. 92.45 4.5%
Wheat USd/bu. 648.25 0.6%
GLOBAL COMMODITY TREND
88.46
644.50
CommodityThis
Week
Last
Week
WoW
Change
1,325.70329.85
Global Markets
106.25
80
85
90
95
100
105
110
USD/bbl
WTI CRUDE FUTURE
70
75
80
85
90
95
USd/lb. COTTON NO.2 FUTURE
1,0501,1001,1501,2001,2501,3001,3501,4001,450
USD/t oz.
GOLD 100 OZ FUTURE
600
620
640
660
680
700
720
USd/bu. WHEAT FUTURE(CBT)
280
290
300
310
320
330
340
USd/lb.
COPPER FUTURE
Page | 8
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
9/12
Softlogic Equity ResearchPage | 9
HNB recorded net earnings of LKR2.2bn in 2Q2013, 26%YoY growth, supported by growth in NII (up 19%YoY) amidst steady
growth in loan book. Drop in personnel expenses resulting from one off reversal of provision by liquidating Employee
Share Benefit Trust (ESBT) was set off by increased impairment provisioning led by providing 100% for individually
insignificant loans on a conservative note consequently Gross NPA increased to 4.5% (cf.3.7% in FY2012).
Growth in NII due to expansion of loan book: HNB recorded a 19% YoY growth of Net Interest Income led by expansion in loan
book of 15% YoY and 6% QoQ. Interest income grew by 27% YoY while Interest expense increased by 35% YoY. HNB also
experienced a marginal expansion in NIMs to 5.4% in 2Q2013 from 5.3% in 4Q2012 and 4.8% in 2Q2012.
Winding down of ESBT and conservative provisioning policy set-off earning gains: Dip in operating expenses was heavily supported by the liquidation of the Employee Share
Benefit Trust which resulted in a 75% drop in personnel expenses (LKR1.5bn drop) as per the direction of CSE. However this gain would be one-off and will not be recorded in future
earnings. Adjusting for ESBT Cost-to-Income ratio recorded a minor improvement at 57.1% in 1H2013 cf.57.4% in 2H2012. In 2Q2013, collective impairment recorded a notable hike
of 245%YoY to LKR1.5bn due to its new policy of 100% provisioning for individually insignificant loans on a conservative note and increased NPA to 4.5% in 2Q2013 cf. 3.7% in 2012.
Similarly, in 1H2013 collective impairment reported a hike of 186% YoY.
We marginally downgrade our earnings to LKR9.2bn (+14.1%YoY) from LKR9.6bn for 2013E and to LKR 10.9bn
(+17.8%YoY) from LKR11.1bn in 2014E.We maintain our loan growth at 18% for 2013E while we have marginally
reduced NIMs as we expect interest rates to flatten out for the rest of the year. We continue to expect that cost toincome will continue to reduce signaling further signs of improvement but at a slower pace. We believe the bank is
likely to experience higher impairment in loan book in the next couple of quarters as well due to 100% provisioning
and more impairment from pawning segment.
Our Corporate update highlighted a Strong Buy rating for both Voting and Non-Voting counters. With the
marginal down grade in earnings, we slightly downgrade our target price to LKR245.0 for voting share and
LKR170.0 for non-voting at the end of 2014E.Amidst the strong returns the counters are likely to generate for the
investors we maintain our rating for both counters Voting and Non-Voting as Strong Buy.
LKR ('mn) 2Q2013 2Q2012 YoY % 1Q2013 QoQ %
Net Intrest Income 6,610 5,563 19% 6,261 6%
Total Operating Income 8,435 7,258 16% 7,933 6%
Opearing profit before VAT 3,625 2,726 33% 2,233 62%
Profit before tax 3,224 2,424 33% 1,813 78%
Profit for equity holders 2,150 1,698 27% 1,262 70%
Quarterly Performance
7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)
10/12
Softlogic Equity ResearchPage | 10
Name Y/E Rec Mkt Price NAVPS P / BV DPS
14-Aug-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 185.00 16,109 104.9 19,403 153.59 1.20 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 7.3 6.4 5.6 5.1 6.3 2.9 1.6 16.6
Ceyl inco Insura nce CINS.N0000 D 1,299.00 14,202 26.4 34,312 537.64 2.42 1,508 1,953 2,006 57.08 73.94 75.96 57 30 22.8 17.6 17.1 1 2.5 1.0 10.6
Co mm erc ia l B an k CO MB .N 00 00 D Buy 119.50 52,962 848.7 101,414 62.41 1.91 8,048 10,080 11,806 14,510 9,462 9.48 11.88 13.91 17.10 11.15 46 25 17 23 12.6 10.1 8.6 7.0 10.7 4.5 3.8 15.2
C om m er ci a l B a nk [ X] C OM B. X0 00 0 D Buy 95.00 52,962 848.7 80,622 62.41 1.52 8,048 10,080 11,806 14,510 10,056 9.48 1 1.88 13.91 1 7.10 11.15 46 25 17 23 10.0 8.0 6.8 5.6 8.5 4.5 4.7 15.2
DFCC Bank DFCC.N0000 M MTB 129.50 28,139 265.1 34,330 106.14 1.22 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 8.8 9.7 5.0 3.9 10.3
H a tt on N a ti o na l B a nk H NB .N 00 00 D Buy 155.00 51,055 398.9 61,827 127.99 1.21 6,149 8,111 9,607 11,113 7,815 15.42 2 0.33 2 4.08 2 7.86 19.59 28 32 18 16 10.1 7.6 6.4 5.6 7.9 8.5 5.5 12.0Hatton Nat ional Bank [X] HNB.X0000 D Buy 114.10 51,055 398.9 45,513 127.99 0.89 6,149 8,111 9,607 11,113 8,086 15.42 2 0.33 2 4.08 2 7.86 19.59 28 32 18 16 7.4 5.6 4.7 4.1 5.8 8.5 7.4 12.0
La nk a Ori x Le as ing Co mpa ny LOLC.N0000 M 52.00 1 9,962 475.2 24,710 42.01 1.24 2,933 1 ,863 1,947 6.17 3.92 4.10 ( 24 ) ( 36 ) 8.4 13.3 12.7 0.5 1.0 14.7
LB Fi nance LFIN.N0000 M Buy 1 13 .4 0 5 ,3 29 6 9. 3 7 ,8 54 7 6. 94 1 .4 7 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 4.6 4.6 3.7 3.1 4.4 6.5 5.7 32.2
National Development Bank NDB.N0000 D Buy 1 62 .2 0 2 2, 92 6 1 64 .7 2 6, 71 3 1 39 .2 1 1. 17 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 9.9 3.0 7.6 6.2 3.1 15.0 9.2 11.8
N a ti o ns T ru s t B a nk N TB .N 000 0 D Buy 62.80 10,113 230.6 14,482 43.85 1.43 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 9.4 7.4 5.9 4.8 7.2 2.1 3.3 15.2
Pa n As ia Ba nk PABC.N0000 D Buy 17.00 4,089 295.0 5,016 13.86 1.23 824 811 859 995 766 2.79 2.75 2.91 3.37 2.60 1 28 (2) 6 16 6.1 6.2 5.8 5.0 6.5 1.0 5.9 20.2
Pe op le 's Le as i ng PLC.N 0000 M Buy 1 4. 60 1 9, 23 6 1, 57 9. 9 2 3, 06 6 12 .1 8 1. 20 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 5.1 7.5 7.7 6.4 7.6 1.3 8.6 23.6
S amp ath Ba nk S AMP.N0000 D Buy 191.80 27,959 167.8 32,176 166.66 1.15 4,151 5,212 5,636 4,773 24.74 31.07 33.60 28.45 19 26 8 7.8 6.2 5.7 6.7 6.0 3.1 14.8
Seyl an Bank SEYB.N0000 D 60.80 19,775 345.0 20,974 57.32 1.06 1,006 2,063 2,170 2.92 5.98 6.29 (17) 105 20.9 10.2 9.7 1.0 1.6 5.1
La nk a Ori x F in an ce 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 7,771.3 414,678 38.25 1.39 41,935 52,924 69,778 5.40 6.81 8.98 19 26 9.9 7.8 5.9 14.1
Full Sector (60) 541,910 1.47 8.2
Beverage, Food and Tobacco
Cargi l l s CARG.N0000 M 152.00 7,760 224.0 34,048 34.64 4.39 1,079 578 577 4.82 2.58 2.58 ( 1) ( 46 ) 31.6 59.0 59.0 2.0 1.3 13.9
Ce yl o n T ob a cc o Co mp an y CT C. N0 000 D 1, 36 5. 30 3 ,66 0 18 7. 3 25 5, 753 1 9. 54 6 9. 88 6 ,56 9 8 ,1 76 8, 73 4 9 ,5 45 8 ,15 2 3 5. 07 4 3. 65 4 6. 63 5 0. 95 4 3. 52 2 9 24 7 9 3 8. 9 3 1. 3 29 .3 2 6. 8 3 1. 4 4 3. 6 3 .2 17 9. 5
Di sti ll eri es DI ST.N0000 M LTB 192.70 49,381 300.0 57,810 164.60 1.17 5,675 5,520 5,816 6,452 5,520 18.92 18.40 19.39 21.51 18.40 ( 30 ) ( 3) 5 11 10.2 10.5 9.9 9.0 10.5 3.0 1.6 11.5
L io n B re we ry L IO N. N0 00 0 M 3 75. 10 5 ,91 0 8 0. 0 3 0, 008 7 3. 88 5 .08 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 23.8 28.7 26.2 19.3 28.7 4.0 1.1 21.4
N es tl e ( La nk a) N ES T.N 0000 D 2,441.30 3,071 53.7 131,160 57.17 42.71 2,633 2,994 3,513 3,822 3,446 49.01 5 5.73 6 5.39 7 1.14 64.15 39 14 17 9 49.8 43.8 37.3 34.3 38.1 54.0 2.2 85.7
Sample Sector (5) 69,783 845.0 508,779 82.58 7.29 17,219 18,313 18,742 20.38 21.67 22.18 0 6 29.5 27.8 27.1 24.7
Full Sector (20) 528,570 4.76 21.8
Chemicals & Pharmaceuticals
CIC Hol di ngs CIC.N0000 M 58.00 7,760 94.8 5,497 81.88 0.71 863 231 239 9.11 2.44 2.52 ( 7) ( 73 ) 6.4 23.8 23.0 1.6 2.8 11.1
La nkem Ceyl on LCEY.N0000 M 131.90 4,459 24.0 3 ,166 185.81 0.71 513 297 307 21.39 12.36 12.80 ( 55 ) ( 42 ) 6.2 10.7 10.3 0.0 0.0 11.5
Sample Sector (2) 12,219 118.8 8,662 102.88 0.71 1,376 528 546 11.59 4.44 4.60 ( 33) ( 62) 6.3 16.4 15.9 11.3
Full Sector (10) 19,550 0.93 12.6
Construction & Engineering
Col omb o D ock ya rd D OCK.N0000 D 221.00 10,172 71.9 15,881 141.55 1.56 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.8 8.0 10.2 8.0 3.6 17.7
Sample Sector (1) 10,172 71.9 15,881 141.55 1.56 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.8 8.0 10.2 17.7
Full Sector (4) 19,322 1.31 5.1
Diversified Holdings
Aitken Spence SPEN.N0000 M 122.00 28,053 406.0 49,532 69.10 1.77 3,488 3,267 3,267 8.59 8.05 8.05 38 (6) 14.2 15.2 15.2 1.5 1.2 12.4
CT Holdings CTHR.N0000 M 140.10 13,219 183.1 25,652 72.20 1.94 1,159 1,150 1,150 6.33 6.28 6.28 34 (1) 22.1 22.3 22.3 0.7 0.5 8.8
Ca rs ons Cu mbe rba tch CARS .N0000 M 393.00 34,692 196.4 7 7,180 176.65 2.22 7,017 4,570 4,014 35.73 23.27 20.44 55 (35) 11.0 16.9 19.2 2.0 0.5 20.2
E xp o la n k a H ol d i ng s E XP O. N0 00 0 M LTB 7.40 9,081 1,954.9 14,466 4 .65 1.59 1,033 1 ,061 1 ,302 1,061 0 .53 0.54 0.67 0.54 (33) 3 23 14.0 13.6 11.1 13.6 0.1 1.6 11.4
Ha yleys HAYL.N0000 M 300.00 22,459 75.0 22,500 299.45 1.00 1,038 1,854 1,855 13.84 24.72 24.73 43 79 21.7 12.1 12.1 4.5 1.5 4.6
Hemas Holdings HHL.N0000 M 33.20 12,153 515.3 17,108 23.59 1.41 1,165 1,658 1,658 2.26 3.22 3.22 (4) 42 14.7 10.3 10.3 0.8 2.3 9.6
John Keell s Holdi ngs JKH.N0000 M 256.80 89,819 857.9 220,298 104.70 2.45 9,687 12,201 12,201 11.29 14.22 14.22 17 26 22.7 18.1 18.1 3.5 1.4 10.8
Richa rd Pei ri s RICH.N0000 M 6.90 7,949 1,958.1 13,511 4.06 1.70 2,575 1,903 1,903 1.32 0.97 0.97 53 (26) 5.2 7.1 7.1 0.2 2.9 32.4
Softl ogic Hol di ngs SHL.N0000 M 9.00 8,040 779.0 7 ,011 10.32 0.87 483 301 301 0.62 0.39 0.39 ( 42 ) ( 38 ) 14.5 23.3 23.3 0.3 3.3 6.0
Va ll ib el One VONE.N0000 M Buy 16.80 27,640 1,086.6 18,254 25.44 0.66 2,025 1,403 2,323 1,403 1.86 1.29 2.14 1.29 2 50 (31) 66 9.0 13.0 7.9 13.0 0.0 0.0 7.3
Sample Sector (10) 253,107 8,012.2 465,511 31.59 1.84 29,669 29,367 28,812 3.70 3.67 3.60 30 (1) 15.7 15.9 16.2 11.7
Full Sector (18) 505,930 1.74 15.0
Healthcare
Asi ri Hospital Hold. ASIR.N0000 M 14.10 6,430 1,099.1 15,497 5.85 2.41 600 777 777 0.55 0.71 0.71 215 29 25.8 19.9 19.9 0.3 1.8 9.3
Na wal oka Hos pi ta ls NHL.N0000 M 2.80 3 ,781 1,409.5 3,947 2.68 1.04 271 454 454 0.19 0.32 0.32 (75) 68 14.6 8.7 8.7 0.1 1.8 7.2
La nka Hos pi tal s LHCL.N0000 D 39.80 27,164 223.7 8,905 121.41 0.33 437 384 482 1.95 1.72 2.15 51 (12) 20.4 23.2 18.5 0.5 1.3 1.6
Sample Sector (3) 37,375 2,732.3 28,348 13.68 0.76 1,308 1,616 1,713 0.48 0.59 0.63 (16) 24 21.7 17.5 16.5 3.5
Full Sector (6) 43,318 1.97 11.9
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 ResearchPage | 11
Name Y/E Rec Mkt Price NAVPS P / BV DPS
14-Aug-13 M ar '1 2 M a 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 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) (' Mn ) 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 69.00 12,926 3 36.3 2 3,204 38.44 1.80 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.8 13.0 10.8 13.0 1.0 1.4 10.7
Ama ya Le is ure CONN.N0000 M 70.00 2,472 48.0 3,362 51.47 1.36 293 377 376 374 6.09 7.84 7 .83 7.79 (38) 29 (0) 11.5 8 .9 8.9 9.0 4.0 5.7 11.8
As ia n Hotel s & Prop. AHPL.N0000 M 71.90 21,697 442.8 3 1,836 49.00 1.47 2,149 2,494 2,623 2,492 4.85 5.63 5.92 5.63 21 16 5 14.8 1 2.8 12.1 12.8 4.0 5.6 9.9
Keel ls Hotel s KHL.N0000 M 12.30 16,294 1,456.1 17,911 11.19 1.10 1,105 1,121 1,496 1,121 0.76 0.77 1.03 0.77 111 1 33 16.2 16.0 12.0 16.0 0.0 0.0 6.8
Ta j TAJ.N0000 M 27.00 2,330 139.6 3,770 16.69 1.62 125 246 293 224 0.89 1.76 2.10 1.61 26 97 19 30.2 15.3 12.9 16.8 0.0 0.0 5.4
Tra ns As ia TRAN.N0000 M 81.20 6,054 200.0 16,240 30.27 2.68 625 1,066 1,180 1,066 3.12 5 .33 5 .90 5.33 (5) 71 11 26.0 15.2 13.8 15.2 3.0 3.7 10.3
Sample Sector (6) 61,773 2,622.9 96,323 23.55 1.56 5,674 7,086 8,116 6,059 2.16 2.70 3.09 2.31 24 2 5 1 5 17.0 13.6 11.9 15.9 9.2
Full Sector (36) 146,038 1.34 16.7
Land and Property
Colombo Land CLND.N0000 D 41.10 3,712 199.9 8,215 18.57 2.21 10 335 -90 12 48 0.05 1.68 (0.45) 0 .0 6 0 .2 4 (98) 3,393 (127) 113 856.5 24.5 N/A 684.6 169.6 0.0 0.0 0.3
Ove rs ea s R ea l ity OS EA .N 0000 D 18.10 22,437 843.5 15,267 26.60 0.68 2,681 2,469 1,924 2,158 2,991 3.18 2.93 2.28 2.56 3.55 218 ( 8) ( 22 ) 12 5.7 6.2 7.9 7.1 5.1 0.3 1.7 11.9
Sample Sector (2) 26,149 1,043.4 2 3,482 25.06 0.90 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 8.7 8 .4 12.8 10.8 7.7 1.1 10.3
Full Sector (18) 39,750 0.86 9.2
Manufacturing
ACL Cabl es ACL.N0000 M 69.00 5,718 59.9 4,133 95.47 0.72 485 532 543 8.10 8.88 9.06 127 10 8.5 7.8 7.6 1.0 1.4 8.5
Gra in El eva tors GRAN.N0000 D 38.00 2,684 60.0 2,280 44.74 0.85 388 135 87 93 150 6.46 2.24 1.45 1.55 2.49 ( 18 ) ( 65 ) ( 35 ) 7 5.9 16.9 26.2 24.5 15.2 0.1 0.4 14.4
C he vr on L ub ri c a nt s L LU B. N0 00 0 D Hold 308.00 4,536 120.0 36,960 37.80 8.15 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 18.5 16.2 14.6 14.1 15.4 11.0 3.6 44.1
La nk a Wa ll ti le LWL.N0000 M LTB 60.00 4,618 54.6 3,276 84.57 0.71 731 520 545 600 520 13.39 9.52 9.98 10.99 9.52 51 (29) 5 10 4.5 6.3 6.0 5.5 6.3 3.0 5.0 15.8
Pi ra ma l Gl as s GLAS .N0000 M LTB 5.70 3,629 950.1 5,415 3.82 1.49 686 724 761 813 732 0.72 0.76 0.80 0.86 0.77 19 5 5 7 7.9 7.5 7.1 6.7 7.4 0.4 6.7 18.9
R oya l Ce ra mi c R CL.N0000 M LTB 9 2. 50 8 ,4 01 1 10 .8 1 0, 24 8 7 5. 83 1 . 22 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 8.2 6.1 5.6 4.7 5.8 2.0 2.2 14.8
T extu re d J ers ey T JL.N 0000 M Buy 1 3. 90 5 ,7 32 6 55. 0 9, 10 5 8 .7 5 1 .5 9 6 28 1, 01 7 1 ,1 86 1 ,4 83 1, 01 7 0 .9 6 1 .5 5 1 .81 2 .2 6 1 .55 (8) 62 17 25 14.5 9 .0 7.7 6.1 9.0 1.2 8.9 11.0
Tokyo Cement TKYO.N0000 M 26.50 6,722 303.8 8,049 22.13 1.20 979 828 828 3.22 2.73 2.73 14 (15) 8.2 9.7 9.7 1.0 3.8 14.6
Sample Sector (8) 42,040 2,314.1 79,466 18.17 1.89 7,141 7,713 7,937 3.09 3.33 3.43 15 8 11.1 10.3 10.0 4.1 17.0
Full Sector (36) 106,414 1.42 8.6
Motors
Coloni al Motors COLO.N0000 M 97.00 3,813 15.2 1,474 250.88 0.39 453 120 22 29.80 7.91 1.47 95 (73) 3.3 12.3 66.1 3.0 3.1 11.9
D ie se l & Motor En gi ne eri ng D IMO.N 0000 M 502.00 7,631 8.9 4,456 859.71 0.58 2,702 462 462 304.36 52.06 52.05 2 7 (83) 1.6 9.6 9.6 10.0 2.0 35.4
Uni ted Motors UML.N0000 M 107.00 7,371 67.3 7,198 109.57 0.98 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.2 3.6 3.6 10.0 9.3 31.0
Sample Sector (3) 18,815 91.3 13,128 205.98 0.70 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.4 5.1 5.3 6.1 28.9
Full Sector (6) 22,193 0.99 6.6
Oil Palms
Buki t Da ra h BUKI.N0000 M 690.00 31,845 102.0 70,380 312.21 2.21 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 14.0 16.0 3.0 0.4 22.9
Sample Sector (1) 31,845 102.0 70,380 312.21 2.21 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 14.0 16.0 3.0 0.4 22.9
Full Sector (5) 101,239 1.84 19.8
Plantations
Bal angoda BALA.N0000 D 28.30 2,638 23.6 669 111.60 0.25 25 118 62 1.08 5.01 2.64 (85) 366 26.3 5.7 10.7 1.0 1.0
Hora na HOPL.N0000 M 22.70 1,489 25.0 568 59.57 0.38 87 220 201 3.49 8.82 8.04 (73) 152 6.5 2.6 2.8 2.0 5.9
Kega l l e KGAL.N0000 M 99.70 3,349 25.0 2,493 133.97 0.74 769 544 542 30.77 21.74 21.70 ( 8) ( 29 ) 3.2 4.6 4.6 12.0 12.0 23.0
Kela ni Val ley KVAL.N0000 D 82.00 2,515 34.0 2,788 73.98 1.11 460 584 650 13.54 17.19 19.12 44 2 7 6.1 4.8 4.3 6.0 7.3 18.3
Kota ga la KOTA.N0000 M 45.90 3,426 40.0 1,836 85.64 0.54 439 517 378 10.97 12.92 9.44 (34) 18 4.2 3.6 4.9 2.5 5.4 12.8
Wa ta wal a WATA.N0000 M 10.90 3,843 236.7 2,580 16.24 0.67 455 680 755 1.92 2.87 3.19 (29) 49 5.7 3.8 3.4 0.8 11.8
Sample Sector (6) 17,261 384.3 10,933 44.91 0.63 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.9 4.1 4.2 13.0
Full Sector (18) 22,768 0.65 4.0
Power and Energy
La nka IOC LIOC.N0000 M 28.10 13,028 532.5 14,964 24.46 1.15 906 2,911 2,911 1.70 5.47 5.47 3 221 16.5 5.1 5.1 0.0 7.0
Val l i be l VPEL.N0000 M 6.60 1,823 747.1 4,931 2.44 2.71 249 289 301 0.33 0.39 0.40 (41) 16 19.8 17.1 16.4 0.3 3.8 13.6
La ugfs Gas LGL.N0000 M 28.80 6,488 387.0 11,146 16.76 1.72 822 1,061 1,021 2.13 2.74 2.64 (4) 29 13.6 10.5 10.9 1.5 5.2 12.7
Sample Sector (3) 21,339 1,666.6 31,041 12.80 1.45 1,977 4,261 4,234 1.19 2.56 2.54 (8) 116 15.7 7.3 7.3 9.3Full Sector (8) 34,957 1.27 7.5
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 Te lecom SLTL.N0000 D 40.90 56,136 1,804.9 73,819 31.10 1.31 4,781 5,329 5,912 4,976 2.65 2.95 3.28 2.76 21 11 11 15.4 13.9 12.5 14.8 0.9 2.1 8.5
Sample Sector (2) 94,912 9,948.6 143,855 9.54 1.52 10,135 11,850 13,481 13,132 1.02 1.19 1.36 1.32 13 17 14 14.2 12.1 10.7 11.0 10.7
Full Sector (2) 144,850 1.53 11.0
Trading
Browns BRWN.N0000 M 103.00 14,696 7 0.9 7,300 207.36 0.50 1,164 2 40 240 16.43 3.39 3.39 ( 47 ) ( 79 ) 6.3 30.4 30.4 1.3 1.3 7.9
S in ge r S ri La nk a S IN S.N 0000 D 97.80 4,681 125.2 12,245 37.39 2.62 1,266 1,138 9 85 1 0 .1 1 9 .0 9 7.87 90 (10) 9.7 10.8 12.4 6.0 6.1 27.1
Sample Sector (2) 19,378 196.1 19,546 98.82 1.01 2,431 1,378 1,225 12.40 7.03 6.25 ( 15) ( 43) 8.0 14.2 15.9 12.5
Full Sector (8) 24,870 1.07 18.7
Sample Market (70) 1,013,448 37,920.9 1,930,013 26.73 1.90 138,331 150,117 169,632 195,077 166,270 3.65 3.96 4.47 5.14 4.38 17 9 13 15 14.0 1 2.9 11.4 9.9 11.6 13.6
Total Market (283) 2,361,259 1.71 12.2
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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12/12
Softlogic Equity ResearchPage | 12
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
Sonali Abayasekera
+94 11 7277051, +94 77 7736059
Eardley Kern
+94 11 7277053, +94 77 7348018
Thanuja De Silva
+94 11 7277059, +94 77 3120018
Chandima Kariyawasam
+94 11 7277058, +94 77 7885778
Branches
HoranaMadushanka Rathnayaka
No. 212, 1st floor, Panadura road, Horana
+94 34 7451000, +94 77 3566465
Matara
No. 8A, 2nd
Floor, FN Building,
Station Road, Matara
+94 41 7451000
NegamboKrishan Williams
No. 121, St. Joseph Street Negambo
+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) Ltd. The inf ormati on and opinion s contain ed herein has been compil ed
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 informati on purposes only,
descri ptions of any company or companies or their securit ies menti oned herein are not int ended 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 f inan cial in struments.
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