Weekly Plus - 2013 Issue 35 (30.08.2013)

7/30/2019 Weekly Plus - 2013 Issue 35 (30.08.2013)

1/12

2013 Issue 35 Week Ending 30-08-2013

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:Nations Trust BankQuick View on Earnings Pg 09

Our Core Coverage Pg 10- Pg 11


2/12

Current WoW %

ASPI 5834.04 -2.0%

S&P SL20 3261.33 -2.4%

Turnover (LKR 'bn) 2,427.6 -34.7%

Volume ('mn) 164.0 74.0%

Market Cap. (LKR 'bn) 2,402.9 -2.0%

LKR ('mn) Current WoW %

Foreign Purchases 775.0 -67.7%

Foreign Sales 588.9 -57.2%

Net Foreign Inflow 186.1 -81.8%

Foreign Participation 41% -7.3%

Net Foreign 362 186

Current WoW %

PER 16.6 -1.6%

PBV 2.2 -2.1%

DY 2.7 3.8%

Current WoW %

BANKS FINANCE & INS. 12,599.6 -1.6%

BEV. FOOD & TOBACCO 20,351.9 1.3%

CHEM. & PHARMA. 6,701.2 1.5%

CONS. & ENG. 2,691.4 -3.7%

DIVERSIFIED 1,715.2 -6.6%

HEALTH CARE 649.9 0.6%

HOTELS & TRAVELS 3,155.9 -0.5%

UNITED MOTORS 7.34% JKH -0.17% LAND & PROPERTY 528.7 -3.7%

SAMPATH (+) 2.66% NESTLE (+) -0.02% MANUFACTURING 2,884.2 -2.9%

DISTILLERIES 0.3% LANKA CERAMIC -93.50% MOTORS 14,653.9 -2.9%

COMMERCIAL BANK (+) 0.10% TOKYO CEMENT -0.5% PLANTATIONS 682.4 -3.0%

LB FINANCE 59.70% VALLIBEL ONE -16.37% TELECOM 155.6 -0.8%

989

548.9

Change in Foreign Holding

Decline in

Value

LKR 'mn

Decline in Foreign Holding

Growth in

Foreign

Holding

Growth in Foreign Holding

2,793.9

1,835.6

646.0

6,600.6

-175.7

Weekly Stat Page

Previous

Weekly Market Statistics

Weekly Foreign Flow

Weekly Market Valuations

Weekly Sector Statistics

Decline in

Foreign

Holding 3,171.8

2,969.3

15,091.2

Previous

5951.83

703.6

156.9

3342.96

3,715.3

16.9

2.3

2.6

Previous

12,799.6

20,099.1

1,021.3

44%

2,398.2

1,376.9

94.2

2,451.4

Previous

-22.0

-8.2

-6.7

1021

Growth in

Value

LKR 'mn

233.3

109.7

36.6

33.4

24.5

-22.0

5,400

5,600

5,800

6,000

6,200

6,400

Daily Index Movement

ASPI

0

50

100

150

200

0

1,000

2,000

3,000

4,000

5,000

9-Aug 16-Aug 23-Aug 30-Aug

('Mn)

LKR('Mn)

Weekly Turnover and Volume

Turnover (LHS) Volume (RHS)

0

500

1,000

1,500

2,0002,500

3,000

9-Aug 16-Aug 23-Aug 30-Aug

LKR('Mn)

Weekly Foreign Purchases and Sales

Foreign Buying Foreign Sales

0%

10%

20%

30%

40%50%

60%

70%

80%

Daily Foreign Activity

Fo re ign Activity Line ar (F oreign Activity)

Page | 2


3/12

Company WoW %

SINHAPUTHRA FIN 31.07%

G S FINANCE 22.73%

PCH HOLDINGS 14.29%

AMF CO LTD 11.18%ASIA CAPITAL 9.50%

Company WoW %

CIFL -22.22%

SERENDIB ENG.GRP -22.22%

CEYLON TOBACCO -18.83%

CARGO BOAT -16.85%

CEYLINCO INS. -15.12%

Company WoW %

HNB[NON VOTING] 0.18%

JKH -6.43%

SAMPATH -1.46%

HDFC -2.00%

COMMERCIAL BANK -2.09%

Company WoW %

HDFC -2.00%

HNB[NON VOTING] 0.18%

S M B LEASING[NON V 0.00%

HEMAS HOLDINGS -3.61%

TEXTURED JERSEY -2.16%

200.00

0.50

300.0019.50

52 High 52 Low

52 High 52 Low

132.50 95.50

210.00 81.50

1,400.50 670.00

151.00 72.00

1,300.00 735.00

67.40 33.10

299.80 195.00

242.00 172.50

109.00

1,500.00

12.50

439.5038.00

0.30

32.00

13.50

Low

82.30

675.00

52 High

11.80

132.50

0.70

360.0020.00

110.50

1,100.70

114.00

240.00

188.50

33.10

116.50

Weekly Top Losers

Weekly Top Performers

Weekly Top Volume

Low

Low

Low

0.70

135.00

1,100.00

7,512,238

1,945,021

Volume

Turnover

855,803,214

844,652,981

529,298,937

300,419,494

Volume

7,289,980

3,451,221

67.40

52 Low

0.70

95.50

4,561,741

33.10

114.00

7,512,238

7,289,980

5,834,984

5,296,187

126.00

0.60

38.40

15.00

99.00

0.30

23.10

7.80

33.10

2,785,713

High

108.00

675.00

0.80

367.7021.90

Turnover

1,168,655

675

1,609,175

2,92513,188

Volume

13,202

1

2,242,312

8612

Previous

82.40

550.00

0.70

330.0020.00

Current

108.00

675.00

0.80

366.9021.90

Weekly Stock Trends

52 Low

67.00

Weekly Top Gainers

52 High

Turnover

1,251,670

792,202

16,931,207

594,441

172,002

Volume

1,498,245

5,659

13,514

5,170

156

High

1.00

178.00

1,385.00

130.00

1,105.40

119.50

Previous

0.90

180.00

1,365.30

132.90

1,299.00

High

115.00

260.00

Previous

114.10

256.80

Current

0.70

140.00

1,108.20

110.50

1,102.60

Current

114.30

240.30

189.00

34.30

117.00

Turnover

300,419,494

855,803,214

Previous

35.00

114.10

230,098,367

193.90

36.00

119.80

191.80

35.00

1,751,636

181,205,887

62,090,833

High

36.00

115.00

0.40

34.00

14.00

0.30

33.20

13.90

Current

34.30

114.30

0.30

32.00

13.60

Page | 3


4/12

DIVIDENDS

RIGHTS ISSUE

The Kingsbury

Pelwatte Sugar

S&P SL20 Companies Previous WoW % John Keells Holdings

JOHN KEELLS HOLDINGS 256.80 -6.43% ###

COMMERCIAL BANK 119.50 -2.09% ###THE BUKIT DARAH 690.00 -0.90% SCRIP DIVIDEND

HATTON NATIONAL BANK 155.00 -3.23%

CARSONS CUMBERBATCH 393.00 -0.76%

SAMPATH BANK 191.80 -1.46%

CEYLON TOBACCO COMPANY 1,365.30 -18.83%

DFCC BANK 129.50 -1.16% CAPITALIZATION OF RESERVES

AITKEN SPENCE 122.00 -0.82%

NATIONAL DEVELOPMENT BANK 162.20 -5.61%

C T HOLDINGS 140.10 -0.07%

DISTILLERIES 192.70 -0.36%HAYLEYS 300.00 -2.33% SUBDIVISION OF SHARES

CHEVRON LUBRICANTS LANKA 308.00 -2.60%

DIALOG AXIATA 8.60 -1.16%

CARGILLS (CEYLON) 152.00 -0.99%

AITKEN SPENCE HOTEL HOLDINGS 69.00 -3.33% CONSOLIDATION OF SHARES

NESTLE LANKA 2,441.30 -9.67%

ASIAN HOTELS & PROPERTIES 71.90 -4.73%

SRI LANKA TELECOM 40.90 -3.67%

1,204,578

8,320,441

496,657

36,495

20,852,780

2,171,384

10,963,617

1,811,928

52,857,653

252,026

101,977

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

51,443,173

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

Company Proportion EGM Date Trading Date

0-Jan-1900

Company Proportion

14,479,011

21,287,072

278,845

0-Jan-1900

ACL Cables

Dankotuwa Porcelain

15-08-201303 for 08 @ LKR10.0

01 for 04 @ LKR18.0

02 for 13 @ LKR175.0Turnover

844,652,981

Company

XD Date

529,298,937

16,931,207

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

230,098,367286,616

S & P SL20 Debrief

Proportion

Announcements

Company Dividend (LKR)

06-09-2013

12-09-2013

16-09-2013

16-09-2013

2.00First Capital Holdings

Royal Palms Beach Hotels

Tangarine Beach Hotels

03-09-2013

04-09-2013

04-09-2013

12-09-2013

13-09-2013

13-09-2013

Payment

Lanka IOC

Orient Finance

0.80

0.50

0

Bairaha Farms

0-Jan-19000-Jan-1900

0-Jan-1900

EGM Date Trading Date

2,205.20

68.50

39.40

Delayed

To be notified

17-09-2013

20-09-2013

25-09-2013

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

05-09-2013

02-09-2013

Delayed

17-09-2013

1.50

1.00

0.40

1.00

0.20

00

To be notified

0

26-09-2013

Renunciation

0

XR Date

Current

240.30

117.00683.80

150.00

390.00

189.00

1,108.20

128.00

121.00

153.10

140.00

192.00293.00

300.00

8.50

150.50

66.70

3,000

3,100

3,200

3,300

3,400

3,500

3,600

Daily Index Movement

S&P SL20

Page | 4


5/12

Local Economy

CURRENCY MOVES

122

124

126

128

130

132134

LKR USD : LKR

1.24

1.261.28

1.30

1.32

1.34

1.36

1.38

LKR Japanese Yen : LKR

160

165

170

175

180

LKR EURO : LKR

98

99100

101

102

103

104

105

LKR Singapore Dollar : LKR

185

190

195

200

205

210

LKR GBP : LKR

1.70

1.80

1.90

2.00

2.10

2.20

2.30

LKR Indian Rupee : LKR

Page | 5


6/12

BALANCE OF TRADE TOURISM

For the Month Ending: Jun-13 For the Month Ending:

Jun-13 MoM % Jun-12 2013 2012

Exports 807 2% 756 Jun-13 98,944 90,338

Imports 1,637 6% 1,419 YTD 611,225 543,205

Balance of Trade -829 -10% -663

COLOMBO TEA AUCTION STATISTICS

Sale of

21-Aug-13 WoW %

High Grown 414.01 2.93%

Mid Grown 399.12 2.78%

Low Grown 458.50 1.20%

Total 442.93 1.28%

COLOMBO RUBBER AUCTION STATISTICS

For the Month Ending: Aug-2013

Aug-13 Basis Points Sale of

Point to Point 6.3% -20 15-Aug-13 WoW %

Annual Average Chang 8.0% 30 RSS 1 411.50 0.00%

1-Yr T-Bill 10.56% 0 Brown Crepe 1X 410.00 0.00%

YoY %

Change %

411.50

410.00

YoY %

7%

Elevation

-2.43%

9.89%

12.31%

14-Aug-13

402.23

794

1,549

10%

13%

9.39%

0.00%

0.00%

WoW %

15%

-25%

424.31

363.20

408.23

404.91

Local Economy

Elevation

Jun-13

INFLATION & INTEREST RATE

May-13

-755

Sale of

Sale of

30-Jul-13

Corres. 2012

388.31

453.08

437.32

Jul-13

6.1%

8.3%

10.56%

Sale of

08-Jun-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%

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

Inflation and Treasury Bill Rate

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

Page | 6


7/12

EQUITY MARKET OUTLOOK

Global Markets

14,000

14,500

15,000

15,500

16,000

Index

Dow Jones Industrial Average

5,600

5,8006,000

6,200

6,400

6,600

6,800

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


8/12

WTI Crude USD/bbl 107.73 1.2%

Gold USD/t oz. 1,394.80 0.0%Copper USd/lb. 324.70 -3.7%

Cotton USd/lb. 83.52 -1.5%

Wheat USd/bu. 653.75 -0.8%

GLOBAL COMMODITY TREND

84.77

658.75

CommodityThis

Week

Last

Week

WoW

Change

1,394.40337.25

Global Markets

106.49

85

90

95

100

105

110

115

USD/bbl

WTI CRUDE FUTURE

75

80

85

90

95

USd/lb. COTTON NO.2 FUTURE

1,0501,1001,1501,200

1,2501,3001,3501,4001,450

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


9/12

Softlogic Equity ResearchPage | 9

F/Y Dec (LKR mn) 2011 2012 2013E 2014E 2015E

Net Profit (LKR mn) 1,607 1,951 2,223 2,694 3,211

EPS (LKR) 7.0 8.5 9.6 11.7 13.9

% Growth 48.2% 21.4% 13.9% 21.2% 19.2%

PER (x) 9.0 7.4 6.5 5.3 4.5

PBV (x) 1.7 1.4 1.2 1.1 0.9

NAVPS (LKR) 37.4 43.8 50.3 59.4 68.7

DPS (LKR) 2.1 2.1 2.4 3.2 4.6

Div Yield (%) 3.4% 3.4% 3.9% 5.0% 7.4%

Div Payout 30.1% 24.8% 25.0% 27.0% 33.0%

LKR ('mn) 2Q2013 2Q2012 YoY % 1Q2013 QoQ %

Net Interest Income 1,840 1,270 45% 1,701 8%

Total Operating Income 2,354 1,912 23% 2,226 6%

Operating profit before VAT 803 840 -4% 854 -6%

Profit before tax 690 728 -5% 736 -6%

Profit for equity holders 478 497 -4% 502 -5%

Quarterly Performance

NTB recorded net earnings of LKR478.4mn in 2Q2013, a marginal drop of 4%YoY, largely due to the losses recorded in the net trading income (-226%YoY) resulting from the markto market losses on funding SWAPS and notable 28%YoY rise in total operating expenses. However NTB reported a healthy 45%YoY increase in Net Interest Income mainly on

account of the decline in the costs of deposits and a 24%YoY increase in net fees and commission income with contributions from the credit card related fees and commissions.

Drop in earnings due to marked to market losses and rise in other operating expenses: NTB reported a marginal 4%YoY dip in earnings in 2Q2013 resultant from a significant

decline (-226%YoY to a LKR163mn loss in 2Q 2013 cf. a gain of LKR129mn gain in the comparative quarter) in net trading income mainly arising from a marked to market loss in

forward premiums on funding SWAPS. In addition, rise in total operating expenses (+28%YoY) led by personal expenses (+37%YoY) and other operating expenses (+27%YoY)

negatively affected the bottom-line. Nevertheless, increase in costs were associated with strengthening the distribution channel through branch expansion (5 branches were added

during the 1H2013 taking the network to 62), introduction of lean concepts with the assistance from Boston Consultancy Group and further enhancing technological forefront

which could reap benefits in the future.

Core operations of the banks denoted healthy improvements: NTB reported a healthy 45%YoY increase in NII in 2Q2013 and a 32%YoY increase in 2H2013 due to the opportunity

to acquire low costs deposits during the latter part of the period with the interest rate decline. However loan book growth was moderate at 5% as at 31-06-2013 cf. 31-12-2012 in

commensurate with the general weakened credit demandwhich prevailed during the economy in the period.

Given NTBs moderate loan book growth, higher costs which prevailed during the period we

downgrade our earnings to LKR2.2bn (+13.9%YoY) from LKR2.4bn in 2013E and to LKR2.7bn

(+21.2%YoY) from LKR3.0bn for 2014E. Nevertheless, counter remains attractive given its branch

expansions, possible benefits accrued in productivity initiatives, efficient pricing policies in

challenging economic environments and its low exposure to pawning (3% of the loan book). Our

Corporate update highlighted a Strong Buy for the counter. With the downgrade in earnings, we

downgrade our target price to LKR95.0 with a gain of 55% for 2014E and maintain our rating at a

Strong Buy.

LKR ('mn) 1-2Q2013 1-2Q2012 YoY %

Net Interest Income 3,542 2,674 32%

Total Operating Income 4,580 3,881 18%

Operating profit before VAT 1,657 1,564 6%

Profit before tax 1,426 1,355 5%

Profit for equity holders 980 933 5%

6 Month Performance


10/12


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

30-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) ( '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 183.60 16,109 104.9 19, 257 153. 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. 2 6. 3 5.6 5.0 6.3 2.9 1.6 16. 6

Ceyl inco Ins urance CINS.N0000 D 1,050.00 14,202 26.4 27,735 537.64 1.95 1,508 1,953 2,006 57.08 73.94 75.96 57 30 18.4 14.2 13.8 12.5 1.2 10.6

Co mm er ci a l B an k CO MB .N 000 0 D Buy 115.40 52,962 848.7 97, 939 62. 40 1.85 8,048 10,080 10, 685 12, 591 9, 462 9.48 1 1.88 1 2.59 1 4. 84 11. 15 46 25 6 18 12.2 9. 7 9.2 7.8 10.4 4.5 3.9 15. 2

Com merci a l B a n k [ X] C OM B. X0 00 0 D Buy 91.00 52,962 848.7 77, 231 62. 40 1.46 8,048 10,080 10, 685 12, 591 10, 056 9.48 1 1.88 1 2.59 1 4. 84 11. 15 46 25 6 18 9. 6 7. 7 7.2 6.1 8.2 4.5 4.9 15. 2

DFCC Ba nk DFCC.N0000 M MTB 122.40 28,139 265.1 32,448 106.14 1.15 2 ,900 3,523 3,453 3,915 3,523 10.94 13.29 13.02 14.77 13.29 (43) 21 (2) 13 11.2 9.2 9.4 8.3 9.2 5.0 4.1 10.3

Ha tt on N a ti on a l B a nk HN B. N0 00 0 D Buy 152.30 51,055 398.9 60, 750 127. 99 1.19 6,149 8,111 9, 258 11, 113 7, 815 15.42 2 0.33 2 3.21 2 7. 86 19. 59 28 32 14 20 9. 9 7. 5 6.6 5.5 7.8 8.5 5.6 12. 0

Hatton National Bank [X] HNB.X0000 D Buy 110.80 51,055 398.9 44, 196 127. 99 0.87 6,149 8,111 9, 258 10, 908 8, 086 15.42 2 0.33 2 3.21 2 7. 86 19. 59 28 32 14 20 7. 2 5. 4 4.8 4.0 5.7 8.5 7.7 12. 0

La nka Ori x Le as in g Co mp an y LOLC.N0000 M 50.10 1 9,962 475.2 23,808 42.01 1.19 2,933 1,863 1,947 6.17 3.92 4.10 ( 24 ) ( 36 ) 8.1 12.8 12.2 0.5 1.0 14.7

LB Fina nce LFIN.N0000 M Buy 1 08 .8 0 5 ,3 29 6 9. 3 7 ,5 35 7 6. 94 1 .4 1 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 4.4 4.4 3.6 3.0 4.3 6.5 6.0 32.2

National Development Bank NDB.N0000 D Buy 1 49 .9 0 2 2, 92 6 1 64 .7 2 4, 68 7 1 39 .2 1 1. 08 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 9.1 2.8 7.0 5.8 2.9 15.0 10.0 11.8

N at io ns T ru s t B an k N TB .N 00 00 D Buy 59.90 10,113 230.6 13,813 43.85 1.37 1,534 1,951 2,438 2,990 2,012 6.65 8.46 10.57 1 2.96 8.72 41 27 25 23 9.0 7.1 5.7 4.6 6.9 2.1 3.5 15.2

Pa n As ia Ba nk PABC.N0000 D Buy 16.70 4,089 295.0 4,927 13.86 1.20 824 811 859 995 766 2.79 2.75 2.91 3.37 2.60 1 28 (2) 6 16 6.0 6.1 5.7 5.0 6.4 1.0 6.0 20.2

Pe op le 's Le a si ng PLC.N 0000 M Buy 1 4. 30 1 9, 23 6 1 ,5 79 .9 2 2, 59 2 12 .1 8 1 .1 7 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 1.3 8.7 23.6

Sa mp ath B an k S AMP.N0000 D Buy 1 87 .6 0 2 7, 95 9 1 67 .8 3 1, 47 1 1 66 .6 6 1. 13 4 ,1 51 5 ,2 12 4 ,0 89 5 ,3 39 4 ,7 73 2 4. 74 3 1. 07 2 4. 37 3 1. 83 2 8. 45 1 9 2 6 (22) 31 7.6 6.0 7.7 5.9 6.6 6.0 3.2 14.8

Seylan Bank SEYB.N0000 D 58.90 19,775 345.0 20,318 57.32 1.03 1,006 2,063 2,170 2.92 5.98 6.29 (17) 105 20.2 9.8 9.4 1.0 1.7 5.1

La nk a Ori x F in an ce LOF C.N 0000 M 2.80 5,424 2,800.0 7, 840 1. 94 1.45 1,246 686 898 1, 026 629 0.44 0.25 0.32 0. 37 0. 22 ( 0) ( 45 ) 31 14 6.3 11.4 8.7 7.6 12.5 - - 23.0

Sample Sector (16) 297,279 7,771.3 395,121 38.25 1.33 41,935 52,924 69,778 5.40 6.81 8.98 19 26 9.4 7.5 5.7 14.1

Full Sector (60) 521,791 1.41 7.9

Beverage, Food and Tobacco

Ca rgi l l s CARG.N0000 M 157.00 7,760 224.0 35,168 34.64 4.53 1,079 578 577 4.82 2.58 2.58 ( 1) ( 46 ) 32.6 60.9 60.9 2.0 1.3 13.9

Ce yl on To ba cco Co mp an y CTC.N 0000 D 1,170.00 3,660 187.3 2 19, 169 19. 54 59.88 6,569 8,176 8, 734 9, 545 8, 570 35.07 43.65 46.63 50. 95 45. 75 29 24 7 9 33.4 26.8 25.1 23. 0 25.6 43.6 3.7 179. 5

Di sti ll eri es DI ST.N0000 M LTB 185.50 49,381 300.0 55,650 164.60 1.13 5 ,675 5,520 5,816 6,452 5,520 18.92 18.40 19.39 21.51 18.40 ( 30 ) ( 3) 5 11 9.8 10.1 9.6 8.6 10.1 3.0 1.6 11.5

Li on B re we ry LI ON .N 0000 M 353.20 5,910 80.0 28, 256 73. 88 4.78 1,262 1,046 1, 146 1, 553 1, 020 15.78 13.07 14.33 19. 41 12. 76 25 (17) 10 35 22.4 2 7.0 24.6 1 8.2 27.7 4.0 1.1 21.4

N es tl e ( La nk a) N ES T.N 0000 D 2,134.70 3,071 53.7 114, 688 57. 17 37.34 2,633 2,994 3, 513 3, 822 3, 449 49.01 5 5.73 65.39 7 1. 14 64. 21 39 14 17 9 43.6 38.3 32.6 30. 0 33.2 54.0 2.5 85. 7

Sample Sector (5) 69,783 845.0 452,931 82.58 6.49 17,219 18,313 19,137 20.38 21.67 22.65 0 6 26.3 24.7 23.7 24.7

Full Sector (20) 510,896 4.60 21.1

Chemicals & Pharmaceuticals

CIC Holdings CIC.N0000 M 60.00 7,760 9 4.8 5,686 81.88 0.73 863 2 31 239 9.11 2.44 2.52 ( 7) ( 73 ) 6.6 24.6 23.8 1.6 2.7 11.1

Lankem Ceylon LCEY.N0000 M 134.00 4,459 24.0 3,216 185.81 0.72 513 297 307 21.39 12.36 12.80 ( 55 ) ( 42 ) 6.3 10.8 10.5 0.0 0.0 11.5

Sample Sector (2) 12,219 118.8 8,902 102.88 0.73 1,376 528 546 11.59 4.44 4.60 (33 ) (62 ) 6.5 16.9 16.3 11.3

Full Sector (10) 18,687 0.89 12.1

Construction & Engineering

Co lo mbo Dockya rd DOCK.N0000 D 203.70 10,172 71.9 14,638 141.55 1.44 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.1 7.4 9.4 8.0 3.9 17.7

Sample Sector (1) 10,172 71.9 14,638 141.55 1.44 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.1 7.4 9.4 17.7

Full Sector (4) 17,760 1.21 4.7

Diversified Holdings

Aitke n Spence SPEN.N0000 M 116.90 28,053 406.0 47,461 69.10 1.69 3,488 3,267 3,267 8.59 8.05 8.05 38 (6) 13.6 14.5 14.5 1.5 1.3 12.4

CT Holdings CTHR.N0000 M 140.00 13,219 183.1 25,634 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 on s Cu mb erb atch CARS .N0000 M 365.10 34,692 1 96.4 7 1,701 176.65 2.07 7,017 4,570 4,014 35.73 23.27 20.44 55 (35) 10.2 15.7 17.9 2.0 0.5 20.2

E xp o l an k a Ho l di n gs E XP O. N0 00 0 M LTB 7.10 9,081 1,954.9 13, 880 4 .65 1.53 1,033 1 ,061 1 ,302 1, 061 0 .53 0.54 0.67 0. 54 (33) 3 23 13.4 13.1 10.7 13.1 0.1 1.7 11.4

Hayleys HAYL.N0000 M 293.00 22,459 75.0 21,975 299.45 0.98 1,038 1,854 1,855 13.84 24.72 24.73 43 79 21.2 11.9 11.8 4.5 1.5 4.6

Hemas Holdings HHL.N0000 M 30.00 12,153 515.3 15,459 23.59 1.27 1,165 1,658 1,658 2.26 3.22 3.22 (4) 42 13.3 9.3 9.3 0.8 2.5 9.6

John Keel l s Holdings JKH.N0000 M 214.80 89,819 857.9 184,282 104.69 2.05 9,687 12,201 12,201 11.29 14.22 14.22 17 26 19.0 15.1 15.1 3.5 1.6 10.8

Richard Pei ri s RICH.N0000 M 6.40 7 ,949 1,958.1 12,532 4.06 1.58 2,575 1,903 1,903 1.32 0.97 0.97 53 (26) 4.9 6.6 6.6 0.2 3.1 32.4

Softlogic Holdings SHL.N0000 M 8.90 8,040 779.0 6 ,933 10.32 0.86 483 301 301 0.62 0.39 0.39 ( 42 ) ( 38 ) 14.3 23.0 23.0 0.3 3.4 6.0

Va ll ibe l One VONE.N0000 M Buy 15.60 27,640 1,086.6 16, 950 25. 44 0.61 2,025 1,403 2, 323 1, 403 1.86 1.29 2.14 1. 29 2 50 (31) 66 8.4 12.1 7.3 12.1 0.0 0.0 7.3

Sample Sector (10) 253,107 8,012.3 416,806 31.59 1.65 29,669 29,367 28,812 3.70 3.67 3.60 30 (1) 14.0 14.2 14.5 11.7

Full Sector (18) 447,830 1.54 13.3

Healthcare

As iri Hospi ta l Hold. ASIR.N0000 M 13.90 6,430 1,099.1 15,277 5.85 2.38 600 7 77 777 0.55 0.71 0.71 215 29 25.5 19.7 19.7 0.3 1.8 9.3

Nawaloka Hospi ta ls NHL.N0000 M 2.90 3 ,881 1,409.5 4,088 2.75 1.05 271 454 456 0.19 0.32 0.32 (75) 68 15.1 9.0 9.0 0.1 1.7 7.0

Lanka Hospi ta ls LHCL.N0000 D 39.10 27,164 223.7 8,748 121.41 0.32 437 384 537 1.95 1.72 2.40 51 (12) 20.0 22.8 16.3 0.5 1.3 1.6

Sample Sector (3) 37,475 2,732.3 28,113 13.72 0.75 1,308 1,616 1,770 0.48 0.59 0.65 (16) 24 21.5 17.4 15.9 3.5

Full Sector (6) 42,519 1.92 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

30-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

('Mn) ('Mn) ( '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

Aitken Sp. Ho. Hold. AHUN.N0000 M 67.00 12,926 336.3 2 2,531 38.44 1.74 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.4 1 2.6 10.5 12.6 1.0 1.5 10.7

Amaya Le isure 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 ian Hotels & Prop. AHPL.N0000 M 69.00 21,697 442.8 30,551 49.00 1.41 2,149 2,494 2,623 2,492 4.85 5.63 5.92 5.63 21 16 5 14.2 12.2 11.6 12.3 4.0 5.8 9.9

Keel l s Hote ls KHL.N0000 M 10.90 16,294 1,456.1 15,872 11.19 0.97 1,105 1,121 1,496 1,121 0.76 0 .77 1 .03 0.77 111 1 33 14.4 14.2 1 0.6 14.2 0.0 0.0 6.8

Taj TAJ.N0000 M 26.10 2,330 139.6 3 ,645 16.69 1.56 125 246 293 224 0.89 1.76 2.10 1.61 26 97 19 29.2 14.8 12.4 16.3 0.0 0.0 5.4

Tra ns As ia TRAN.N0000 M 81.90 6,054 200.0 16,380 30.27 2.71 625 1,066 1,180 1,066 3.12 5 .33 5 .90 5.33 (5) 71 11 26.2 15.4 13.9 15.4 3.0 3.7 10.3

Sample Sector (6) 61,773 2,622.9 92,342 23.55 1.49 5,674 7,086 8,116 6,059 2.16 2.70 3.09 2.31 24 2 5 1 5 16.3 13.0 11.4 15.2 9.2

Full Sector (36) 306,520 2.80 35.1

Land and Property

Colombo La nd CLND.N0000 D 40.00 3,712 199.9 7,995 18.57 2.15 10 335 -90 12 48 0.05 1.68 (0.45) 0 .0 6 0 .2 4 (98) 3,393 (127) 113 833.6 23.9 N/A 666.3 165.0 0.0 0.0 0.3

Ove rs e as R ea li ty OS EA.N 0000 D 17.00 22,437 843.5 14,339 26.60 0.64 2, 681 2, 469 1, 924 2, 158 2, 991 3. 18 2.93 2. 28 2.56 3.55 2 18 ( 8) ( 22 ) 12 5.3 5.8 7.5 6.6 4.8 0.3 1.8 11.9

Sample Sector (2) 26,149 1,043.4 22,334 25.06 0.85 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 8.3 8 .0 12.2 10.3 7.3 1.1 10.3Full Sector (18) 36,556 0.79 8.4

Manufacturing

ACL Ca bles ACL.N0000 M 68.40 5,718 59.9 4,097 95.47 0.72 485 532 543 8.10 8.88 9.06 127 10 8.4 7.7 7.6 1.0 1.5 8.5

Gra in El eva tors GRAN.N0000 D 35.60 2,742 60.0 2,136 45.71 0.78 388 135 87 93 -180 6.46 2.24 1.45 1.55 ( 2. 99 ) ( 18 ) ( 65 ) ( 35 ) 7 5.5 15.9 24.6 23.0 -11.9 0.1 0.4 14.1

C hevron L ub ri c an t s L LU B .N 00 00 D Hold 289.60 5,098 120.0 34,752 42.48 6.82 2, 001 2, 288 2, 526 2, 621 2, 425 16. 67 1 9.06 2 1. 05 2 1.84 20.21 33 14 10 4 17.4 15.2 13.8 13. 3 14.3 11.0 3.8 39.2

La nk a W al lti le LWL.N0000 M LTB 59.50 4,618 54.6 3,249 84.57 0.70 731 520 545 600 520 13.39 9.52 9.98 10.99 9.52 51 (29) 5 10 4.4 6.2 6.0 5.4 6.2 3.0 5.0 15.8

Pi ra ma l Gl as s GLAS.N0000 M LTB 5.50 3,716 950.1 5,225 3.91 1.41 686 724 761 813 941 0.72 0.76 0.80 0.86 0.99 19 5 5 7 7.6 7.2 6.9 6.4 5.6 0.4 6.9 18.5

Ro ya l Ce ra mi c RCL.N0000 M LTB 8 6. 40 8 ,4 01 1 10 .8 9 ,5 72 7 5. 83 1 .1 4 1 ,2 43 1 ,6 70 1 ,8 44 2 ,1 90 1 ,7 52 1 1. 22 1 5. 07 1 6. 64 1 9. 77 1 5. 81 (14) 34 10 19 7.7 5.7 5.2 4.4 5.5 2.0 2.3 14.8

Te xtu re d Je rs ey TJL.N0000 M Buy 13.60 6,190 655.0 8,908 9.45 1.44 628 1, 017 1, 186 1, 483 1, 085 0. 96 1.55 1. 81 2.26 1.66 (8) 62 17 25 14.2 8.8 7.5 6.0 8.2 1.2 9.1 10.1

Tokyo Cement TKYO.N0000 M 23.80 6,722 334.1 7 ,952 20.12 1.18 979 828 828 2.93 2.48 2.48 14 (15) 8.1 9.6 9.6 1.0 4.2 14.6

Sample Sector (8) 43,205 2,344.5 75,891 18.43 1.76 7,141 7,713 7,914 3.05 3.29 3.38 15 8 10.6 9.8 9.6 4.3 16.5

Full Sector (36) 102,475 1.35 8.3

Motors

Colonia l Motors COLO.N0000 M 90.10 3 ,813 15.2 1,370 250.88 0.36 453 120 22 29.80 7.91 1.47 95 (73) 3.0 11.4 61.4 3.0 3.3 11.9

Di es el & Mo tor Engi ne eri ng DI MO.N0000 M 478.00 7,571 8.9 4,243 852.93 0.56 2,702 462 462 304.36 52.06 52.05 2 7 (83) 1.6 9.2 9.2 10.0 2.1 35.7

Unite d Motors UML.N0000 M 106.00 7,371 67.3 7,130 109.57 0.97 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.1 3.5 3.5 10.0 9.4 31.0

Sample Sector (3) 18,755 91.3 12,743 205.32 0.68 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.3 4.9 5.1 6.3 29.0

Full Sector (6) 20,903 0.93 6.2

Oil Palms

Buki t Da rah BUKI.N0000 M 680.00 31,845 102.0 69,360 312.21 2.18 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.5 13.8 15.7 3.0 0.4 22.9

Sample Sector (1) 31,845 102.0 69,360 312.21 2.18 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.5 13.8 15.7 3.0 0.4 22.9

Full Sector (5) 99,727 1.81 19.5

Plantations

Ba langoda BALA.N0000 D 26.80 2,638 23.6 633 111.60 0.24 25 118 62 1.08 5.01 2.64 (85) 366 24.9 5.4 10.1 1.0 1.0

Hora na HOPL.N0000 M 21.00 1,489 25.0 525 59.57 0.35 87 220 201 3.49 8.82 8.04 (73) 152 6.0 2.4 2.6 2.0 5.9

Kega l le KGAL.N0000 M 96.00 3,349 25.0 2,400 133.97 0.72 769 544 542 30.77 21.74 21.70 ( 8) ( 29 ) 3.1 4.4 4.4 1 2.0 12.5 23.0

Kelani Val ley KVAL.N0000 D 79.70 2,515 34.0 2,710 73.98 1.08 460 584 650 13.54 17.19 19.12 44 27 5.9 4.6 4.2 6.0 7.5 18.3

Kotagala KOTA.N0000 M 40.50 3,426 40.0 1,620 85.64 0.47 439 517 378 10.97 12.92 9.44 (34) 18 3.7 3.1 4.3 2.5 6.2 12.8

Wa tawala WATA.N0000 M 10.00 3,843 236.7 2,367 16.24 0.62 455 680 755 1.92 2.87 3.19 (29) 49 5.2 3.5 3.1 0.8 11.8

Sample Sector (6) 17,261 384.3 10,255 44.91 0.59 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.6 3.8 4.0 13.0

Full Sector (18) 21,474 0.61 3.8

Power and Energy

Lanka IOC LIOC.N0000 M 26.40 14,378 532.5 14,059 27.00 0.98 906 2,911 4,069 1.70 5.47 7.64 3 221 15.5 4.8 3.5 0.0 6.3

Va l l ibel VPEL.N0000 M 5.80 2,068 747.1 4,333 2.77 2.10 249 289 494 0.33 0.39 0.66 (41) 16 17.4 15.0 8.8 0.3 4.3 12.0

Laugfs Gas LGL.N0000 M 26.00 6,488 387.0 10,062 16.76 1.55 822 1,061 1,291 2.13 2.74 3.34 (4) 29 12.2 9.5 7.8 1.5 5.8 12.7

Sample Sector (3) 22,934 1,666.6 28,454 13.76 1.24 1,977 4,261 5,855 1.19 2.56 3.51 (8) 116 14.4 6.7 4.9 8.6

Full Sector (8) 34,003 1.16 7.3

Telecommunications

Dialog Axia ta DIAL.N0000 D 8.20 38,776 8,143.8 66,779 4.76 1.72 5,354 6,521 7,569 8,156 0.66 0.80 0.93 1.00 6 22 16 12.5 10.2 8.8 8.2 0.3 4.0 13.8

Sri Lanka Telecom SLTL.N0000 D 40.10 56,136 1,804.9 72,375 31.10 1.29 4,781 5,329 5,912 4,976 2.65 2.95 3.28 2.76 21 11 11 15.1 13.6 12.2 14.5 0.9 2.1 8.5

Sample Sector (2) 94,912 9,948.6 139,154 9.54 1.47 10,135 11,850 13,481 13,132 1.02 1.19 1.36 1.32 13 17 14 13.7 11.7 10.3 10.6 10.7

Full Sector (2) 139,154 1.47 10.6

Trading

Browns BRWN.N0000 M 93.20 14,696 70.9 6,606 207.36 0.45 1,164 240 240 16.43 3.39 3.39 ( 47 ) ( 79 ) 5.7 27.5 27.5 1.3 1.4 7.9

S in ge r S ri La nk a S IN S.N 0000 D 93.50 4,681 125.2 11,707 37.39 2.50 1,266 1,138 9 85 1 0 .1 1 9 .0 9 7.87 90 (10) 9.2 10.3 11.9 6.0 6.4 27.1

Sample Sector (2) 19,378 196.1 18,313 98.82 0.95 2,431 1,378 1,225 12.40 7.03 6.25 (15 ) (43 ) 7.5 13.3 14.9 12.5

Full Sector (8) 23,199 0.99 17.5

Sample Market (70) 1,016,248 37,951.4 1,785,356 26.78 1.76 138,331 150,117 169,632 195,077 168,321 3.64 3.96 4.47 5.14 4.44 17 9 13 15 12.9 1 1.9 10.5 9.2 10.6 13.6

Total Market (283) 2,398,238 1.73 12.4

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

MataraNo. 8A, 2nd Floor, FN Building,

Station Road, Matara

+94 41 7451000,

NegomboKrishan Williams

No. 121, St. Joseph Street Negombo

[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 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.

Softlogi c Stockbrokers (Pvt) Ltd may, to the extent permissible by applicabl e law or regulati on, use the above material , conclusions,

research or analysis in wh ich they are based before the materiali zed disseminated to their customers. Not all customers will receive

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 otherwi se, in each case either as pri ncipal 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 Stockbrokers (Pvt) L td 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 35 (30.08.2013)