Weekly Plus - 2013 Issue 34 (23.08.2013) (1)

7/30/2019 Weekly Plus - 2013 Issue 34 (23.08.2013) (1)

1/12

2013 Issue 34 Week Ending 23-08-2013

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:Lanka IOCQuick View on Earnings Pg 09

Our Core Coverage Pg 10- Pg 11


2/12

Current WoW %

ASPI 5951.83 -4.5%

S&P SL20 3342.96 -4.3%

Turnover (LKR 'bn) 3,715.3 -6.3%

Volume ('mn) 94.2 -34.3%

Market Cap. (LKR 'bn) 2,451.4 -4.5%

LKR ('mn) Current WoW %

Foreign Purchases 2,398.2 6.9%

Foreign Sales 1,376.9 9.7%

Net Foreign Inflow 1,021.3 3.3%

Foreign Participation 40% -3.4%

Net Foreign -971 1021

Current WoW %

PER 16.9 -4.5%

PBV 2.3 -4.5%

DY 2.6 4.0%

Current WoW %

BANKS FINANCE & INS. 12,799.6 -2.3%

BEV. FOOD & TOBACCO 20,099.1 -11.3%

CHEM. & PHARMA. 6,600.6 -2.5%

CONS. & ENG. 2,793.9 -3.6%

DIVERSIFIED 1,835.6 -4.0%

HEALTH CARE 646.0 -1.5%

HOTELS & TRAVELS 3,171.8 -1.5%

HNB[X.0000] (+) 28.47% JKH -0.50% LAND & PROPERTY 548.9 -4.1%

SAMPATH (+) 10.13% UNION BANK (+) -1.42% MANUFACTURING 2,969.3 -2.8%

HDFC (+) 4236.6% LION BREWERY -0.25% MOTORS 15,091.2 -2.8%

TOKYO CEMENT 10.14% CHEVRON (+) -0.1% PLANTATIONS 703.6 -2.3%

COMMERCIAL BANK (+) 0.24% KELANI TYRES -1.21% TELECOM 156.9 -2.4%

362

572.1

Change in Foreign Holding

Decline in

Value

LKR 'mn

Decline in Foreign Holding

Growth in

Foreign

Holding

Growth in Foreign Holding

2,899.0

1,911.8

655.9

6,768.1

-581.5

Weekly Stat Page

Previous

Weekly Market Statistics

Weekly Foreign Flow

Weekly Market Valuations

Weekly Sector Statistics

Decline in

Foreign

Holding 3,219.4

3,053.6

15,518.4

Previous

6233.21

720.1

160.9

3491.55

3,964.7

17.7

2.4

2.5

Previous

13,097.1

22,656.4

988.8

41%

2,243.7

1,254.9

143.4

2,567.3

Previous

-24.2

-9.8

-4.8

989

Growth in

Value

LKR 'mn

802.7

381.6

257.3

147.1

77.5

-39.0

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

2-Aug 9-Aug 16-Aug 23-Aug

('Mn)

LKR('Mn)

Weekly Turnover and Volume

Turnover (LHS) Volume (RHS)

0

500

1,000

1,500

2,0002,500

3,000

2-Aug 9-Aug 16-Aug 23-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 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

Distilleries Company

Colonial Motors

15-08-201303 for 08 @ LKR10.0

01 for 04 @ LKR18.0

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)

30-09-2013

To be notified

07-10-2013

To be notified

0.10Renuka Agri Foods

Renuka Holdings

Renuka Shaw Wallace

26-09-2013

26-09-2013

26-09-2013

04-10-2013

04-10-2013

04-10-2013

Payment

Chilaw Finance

0-Jan-1900

0.70

0.30

0

Elpitiya Plantations

0-Jan-19000-Jan-1900

0-Jan-1900

EGM Date Trading Date

2,205.20

68.50

39.40

Delayed

0

08-10-2013

00-01-1900

00-01-1900

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

27-09-2013

02-09-2013

Delayed

00-01-1900

0.50

3.00

3.00

0.50

0.00

00

0

0

00-01-1900

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

3,250

3,300

3,350

3,400

3,450

3,500

3,550

Daily Index Movement

S&P SL20

Page | 4


5/12

Local Economy

CURRENCY MOVES

122

124

126

128

130

132134

LKR USD : LKR

1.20

1.25

1.30

1.35

1.40

LKR Japanese Yen : LKR

155

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

1.95

2.002.05

2.10

2.15

2.20

2.25

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 73,628 65,245

Imports 1,637 6% 1,419 YTD 512,281 452,867

Balance of Trade -829 -10% -663

COLOMBO TEA AUCTION STATISTICS

Sale of

14-Aug-13 WoW %

High Grown 402.23 2.46%

Mid Grown 388.31 1.26%

Low Grown 453.08 1.37%

Total 437.32 1.68%

COLOMBO RUBBER AUCTION STATISTICS

For the Month Ending: Jul-2013

Jul-13 Basis Points Sale of

Point to Point 6.1% 70 15-Aug-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 %

411.50

410.00

YoY %

7%

Elevation

-5.20%

6.91%

10.99%

08-Jul-13

392.57

794

1,549

13%

13%

8.00%

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

383.46

446.96

430.11

Jun-13

6.8%

8.6%

12.37%

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%

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


7/12

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 105.20 -2.0%

Gold USD/t oz. 1,375.10 1.0%Copper USd/lb. 335.20 -0.5%

Cotton USd/lb. 84.47 -8.6%

Wheat USd/bu. 642.25 -0.9%

GLOBAL COMMODITY TREND

92.45

648.25

CommodityThis

Week

Last

Week

WoW

Change

1,361.90336.85

Global Markets

107.39

85

90

95

100

105

110

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

Net earnings surged 603% YoY to LKR1.3 bn backed by strong GP margin growth of 630 bps YoY backed by the

bearish sentiment in crude oil prices which prevailed during 2013 amidst marginal revenue dip of 1.2% YoY. PBIT

margin expanded 650 bps YoY to 9.8% and net earnings margin grew 630 bps YoY to 7.3%.

Revenue dip of 1.2% YoY and 4% QoQ: The revenue dip is on a YoY and QoQ basis is primarily reasoned by a

slowdown in LIOCs bunkering segment due to less ship movements along the coast.

GP margin expanded 630 bps YoY and 560 bps QoQ to 13.1% : GP margin growth primarily stemmed from

improvements in procurement with the bearish trend of oil prices. This reflected an average YTD dip in crude oil

prices of 4% YoY to USD95.79 per barrel (Appendix 1). Amidst the decline, LIOC raised petrol price by LKR3.0 per

litre to LKR162.0 per litre w.e.f 23rd February 2013 and kept diesel prices at LKR121.0 per litre in line with CPC as it had earlier raised diesel by LKR6.0 per litre above the CPC price.LIOC currently sells petrol with a profit of c.LKR2.85 per litre and diesel at a loss of LKR2.5 per litre. The loss on diesel is outweighed by higher sales of petrol leading to GP margin

growth of 630 bps YoY and 560 bps QoQ to 13.1%.

Net earnings grew 603% YoY expanding margin to 7.3% from 1.0% in 1QFY13: PBIT margin expanded 650 bps YoY to 9.8% backed by a 10% dip in operating costs. Net financing

costs dipped 50% reflecting 32% YoY gain in finance income to LKR47 mn and 43% dip in finance costs to LKR252 mn as a result of dollar denominated borrowings leading to PBT

margin growth of 760 bps YoY to 8.7%. This resulted in strong net earnings growth of 603% YoY and 68% QoQ to LKR1.3 bn. Income tax paid increased on a YoY and QoQ basis as a

result of the expiration of the 10 year tax holiday granted by the BOI from February 2013 onwards and a concessional rate of 15% is now charged.

We expect LIOC to denote strong earnings growth in the upcoming quarters backed by the growth trajectory in its

key segments which is likely to further improve if oil prices continue on a bearish trend. LIOC is a beneficiary of the

Government policy of trimming CPC losses which enables them to bring prices in line with CPC. LIOC expects the

slowdown in its bunkering segment to be temporary while a change in strategy in this segment is likely to improve

performance in the coming quarters. A possible impact of forecasted oil price dip may improve earnings further. The

USA Energy Information Administration forecasts crude oil prices to dip by 0.9% YoY and 1.4% YoY on average for

2013E and 2014E respectively (Appendix 2). LIOC underscores its peers with a trailing PER of 3.7x while trading at book value at current price (Appendix 3) hence we rate it a

BUY.

LKR ('mn) 1QFY14 1QFY13 YoY % 4QFY13 QoQ %

Revenue 18,472 18,691 - 1. 2% 19,210 -3.8%

Gross Profit 2,413 1,270 90.0% 1,450 66.4%

Gross Margin 13.1% 6.8% 7.5%

PBIT 1,812 609 197.5% 791 129.1%

PBIT margin 9.8% 3.3% 4.1%

Net Profit 1,350 192 603.4% 806 67.5%

Net Profit Margin 7.3% 1.0% 4%

Quarterly Performance


10/12


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

23-Aug-13 M ar '12 M ar' 13 M ar '14E M ar '15E M ar '12 Mar' 13 M ar '14E M ar '15E M ar '12 M ar '13 M ar '14E M ar '14E M ar '12 M ar '13 M ar '14E M ar '15E M ar '13

( 'M n) ( 'M n) ( 'M n) Dec '11 Dec' 12 Dec '13E Dec '14E Dec '11 Dec '12 Dec' 13E Dec '14E Dec '11 Dec '12 Dec '13E Dec '13E Dec '11 Dec '12 Dec '13E Dec '14E Dec '12

Banking, Finance & Insurance

Ce nt ra l F in an ce CF IN .N 0000 M Buy 180. 10 16, 109 104.9 18, 889 153.59 1. 17 2,675 3, 041 3,4 37 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 4.9 6. 2 2. 9 1. 6 1 6. 6

Ceyl inco Insurance CINS.N0000 D 1,102.60 14,202 26.4 29,125 537.64 2.05 1,508 1,953 2,006 57.08 73.94 75.96 57 30 19.3 14.9 14.5 12.5 1.1 10.6

Co mm er ci a l B a nk CO MB .N 00 00 D Buy 117. 00 52, 962 848.7 99, 293 62.41 1. 87 8,048 10, 080 10,6 85 12, 591 9, 462 9.48 1 1. 88 1 2.59 1 4. 84 11.15 46 25 6 18 12.3 9.9 9. 3 7.9 10. 5 4. 5 3. 8 15. 2

Commercia l Bank [X] COMB.X0000 D Buy 93. 80 52, 962 848.7 79, 604 62.41 1. 50 8,048 10, 080 10,6 85 12, 591 10, 056 9.48 1 1. 88 1 2.59 1 4. 84 11.15 46 25 6 18 9. 9 7.9 7. 5 6.3 8. 4 4. 5 4. 8 1 5. 2

DFCC Ba nk DFCC.N0000 M MTB 128.00 28,139 265.1 33,933 106.14 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 11.7 9 .6 9.8 8.7 9.6 5.0 3.9 10.3

Hatton National Bank HNB.N0000 D Buy 150. 00 51, 055 398.9 59, 833 127.99 1. 17 6,149 8, 111 9,2 58 11, 113 7, 815 15.42 2 0. 33 2 3.21 2 7. 86 19.59 28 32 14 20 9. 7 7.4 6. 5 5.4 7. 7 8. 5 5. 7 1 2. 0

Hatton National Bank [X] HNB.X0000 D Buy 114. 30 51, 055 398.9 45, 593 127.99 0. 89 6,149 8, 111 9,2 58 10, 908 8, 086 15.42 2 0. 33 2 3.21 2 7. 86 19.59 28 32 14 20 7. 4 5.6 4. 9 4.1 5. 8 8. 5 7. 4 1 2. 0

La nk a Ori x Le as in g Co mp an y LOLC.N0000 M 50.50 1 9,962 475.2 23,998 42.01 1.20 2,933 1,863 1,947 6.17 3.92 4.10 (24) (36) 8.2 12.9 12.3 0.5 1.0 14.7

LB Fi na nce LFIN.N0000 M Buy 104.20 5 ,329 69.3 7 ,217 76.94 1 .35 1 ,714 1 ,703 2 ,114 2 ,494 1 ,771 24.75 24.58 30.52 36.01 25.57 68 (1) 24 18 4.2 4.2 3.4 2.9 4.1 6.5 6.2 32.2

National Development Bank NDB.N0000 D Buy 153.10 22,926 164.7 25,215 139.21 1.10 2 ,706 8 ,854 3 ,533 4 ,286 8 ,660 16.43 53.76 21.45 26.03 52.58 26 227 (60) 21 9.3 2.8 7.1 5.9 2.9 15.0 9.8 11.8

N a ti o ns T ru s t B a nk N TB .N 00 00 D Buy 60.50 10,113 230.6 13,952 43.85 1.38 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 9.1 7.2 5.7 4.7 6.9 2.1 3.5 15.2

Pa n As ia B an k PAB C.N0000 D Buy 16.90 4,089 295.0 4,986 13.86 1.22 824 811 859 995 766 2.79 2.75 2.91 3.37 2.60 1 28 (2) 6 16 6.1 6.1 5.8 5.0 6.5 1.0 5.9 20.2

Pe op l e' s L ea s in g PLC.N 0000 M Buy 1 4. 20 1 9, 23 6 1, 57 9. 9 2 2, 43 4 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 4.9 7.3 7.4 6.2 7.4 1.3 8.8 23.6

S am pa th Ba nk S AMP.N0000 D Buy 189.00 27,959 167.8 31,706 166.66 1.13 4 ,151 5 ,212 4 ,089 5 ,339 4 ,773 24.74 31.07 24.37 31.83 28.45 19 26 (22) 31 7.6 6.1 7.8 5.9 6.6 6.0 3.2 14.8

Seyl an Ba nk SEYB.N0000 D 58.80 19,775 345.0 20,284 57.32 1.03 1 ,006 2,063 2,170 2.92 5.98 6.29 (17) 105 20.2 9.8 9.3 1.0 1.7 5.1

La n ka Ori x F in an ce LOF C.N 0000 M 3. 00 5, 424 2, 800.0 8, 400 1.94 1. 55 1,246 686 8 98 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 7,771.3 399,262 38.25 1.34 41,935 52,924 69,778 5.40 6.81 8.98 19 26 9.5 7.5 5.7 14.1

Full Sector (60) 541,910 1.47 8.2

Beverage, Food and Tobacco

Cargi l ls CARG.N0000 M 150.50 7,760 224.0 33,712 34.64 4.34 1,079 578 577 4.82 2.58 2.58 ( 1) ( 46) 31.2 58.4 58.4 2.0 1.3 13.9

Ce yl o n T ob ac co Co mp an y CT C. N0000 D 1,108. 20 3, 660 187.3 2 07, 592 19.54 56.72 6,569 8, 176 8,7 34 9, 545 8, 152 35.07 43. 65 46.63 50. 95 43.52 29 24 7 9 31.6 25. 4 23.8 21. 7 25. 5 43. 6 3. 9 179. 5

Di sti ll eri es DI ST.N0000 M LTB 192.00 49,381 300.0 57,600 164.60 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 10.1 10.4 9.9 8.9 10.4 3.0 1.6 11.5

Li o n B re we ry LI ON .N 0000 M 360. 00 5, 910 80.0 28, 800 73.88 4. 87 1,262 1, 046 1,1 46 1, 553 1, 046 15.78 13. 07 14.33 19. 41 13.08 25 (17) 10 35 22.8 27.5 25.1 18.5 27.5 4.0 1.1 21.4

N es tl e ( La nk a) N ES T. N0000 D 2,205. 20 3, 071 53.7 118, 475 57.17 38.58 2,633 2, 994 3,5 13 3 ,822 3, 446 49.01 5 5. 73 6 5.39 7 1. 14 64.15 39 14 17 9 45.0 39. 6 33.7 31. 0 34. 4 54. 0 2. 4 8 5. 7

Sample Sector (5) 69,783 845.0 446,180 82.58 6.39 17,219 18,313 18,742 20.38 21.67 22.18 0 6 25.9 24.4 23.8 24.7

Full Sector (20) 528,570 4.76 21.8

Chemicals & Pharmaceuticals

CIC Holdings CIC.N0000 M 58.40 7,760 94.8 5,535 81.88 0.71 863 231 239 9.11 2.44 2.52 ( 7) ( 73) 6.4 24.0 23.2 1.6 2.8 11.1

La nkem Ceyl on LCEY.N0000 M 126.20 4,459 24.0 3 ,029 185.81 0.68 513 297 307 21.39 12.36 12.80 (55) (42) 5.9 10.2 9.9 0.0 0.0 11.5

Sample Sector (2) 12,219 118.8 8,563 102.88 0.70 1,376 528 546 11.59 4.44 4.60 (33) (62) 6.2 16.2 15.7 11.3

Full Sector (10) 19,550 0.93 12.6

Construction & Engineering

Co lo mb o D ock ya rd D OCK.N0000 D 212.00 10,172 71.9 15,234 141.55 1.50 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.4 7.7 9.7 8.0 3.8 17.7

Sample Sector (1) 10,172 71.9 15,234 141.55 1.50 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.4 7.7 9.7 17.7

Full Sector (4) 19,322 1.31 5.1

Diversified Holdings

Ai tken Spence SPEN.N0000 M 121.00 28,053 406.0 49,126 69.10 1.75 3,488 3,267 3,267 8.59 8.05 8.05 38 (6) 14.1 15.0 15.0 1.5 1.2 12.4

CT Hol di ngs 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 CAR S.N0000 M 390.00 34,692 1 96.4 7 6,591 176.65 2.21 7,017 4,570 4,014 35.73 23.27 20.44 55 (35) 10.9 16.8 19.1 2.0 0.5 20.2

E xp o la n ka 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 ,3 02 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

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 7 9 21.2 11.9 11.8 4.5 1.5 4.6

He mas Hol di ngs HHL.N0000 M 32.00 12,153 515.3 16,489 23.59 1.36 1,165 1,658 1,658 2.26 3.22 3.22 (4) 42 14.2 9.9 9.9 0.8 2.3 9.6

John Keel ls Holdings JKH.N0000 M 240.30 89,819 857.9 206,157 104.69 2.30 9,687 12,201 12,201 11.29 14.22 14.22 17 26 21.3 16.9 16.9 3.5 1.5 10.8

Ri chard Pe iri 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

Softlogic Holdings SHL.N0000 M 8.70 8,040 779.0 6 ,777 10.32 0.84 483 301 301 0.62 0.39 0.39 (42) (38) 14.0 22.5 22.5 0.3 3.4 6.0

Va ll ib el One VONE.N0000 M Buy 15. 90 27, 640 1, 086.6 17, 276 25.44 0. 63 2,025 1, 403 2,3 23 1, 403 1.86 1. 29 2.14 1.29 2 50 (31) 66 8.5 12.3 7.4 12.3 0 .0 0.0 7.3

Sample Sector (10) 253,107 8,012.2 448,002 31.59 1.77 29,669 29,367 28,812 3.70 3.67 3.60 30 (1) 15.1 15.3 15.5 11.7

Full Sector (18) 505,930 1.74 15.0

Healthcare

Asiri Hospita l Hold. ASIR.N0000 M 13.60 6,430 1,099.1 14,948 5.85 2.32 600 7 77 777 0.55 0.71 0.71 215 29 24.9 19.2 19.2 0.3 1.9 9.3

Nawaloka Hospita 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

Lanka Hospitals LHCL.N0000 D 39.50 27,164 223.7 8,837 121.41 0.33 437 384 482 1.95 1.72 2.15 51 (12) 20.2 23.0 18.3 0.5 1.3 1.6

Sample Sector (3) 37,375 2,732.3 27,873 13.68 0.75 1,308 1,616 1,713 0.48 0.59 0.63 (16) 24 21.3 17.2 16.3 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


11/12


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

23-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 e c' 13 E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 De c' 12 D ec '1 3E D ec '1 3E D ec '1 1 De c' 12 D ec '1 3E D ec '1 4E D ec '1 2

Hotels and Travels

Ai tken Sp. Ho. Hol d. AHUN.N0000 M 66.70 12,926 336.3 2 2,431 38.44 1.74 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.3 1 2.6 10.4 12.6 1.0 1.5 10.7

Amaya Le isure CONN.N0000 M 71.60 2,472 48.0 3,439 51.47 1.39 293 377 376 374 6.09 7 .84 7 .83 7.79 (38) 29 (0) 11.8 9 .1 9.1 9.2 4.0 5.6 11.8

As ia n Hotel s & Prop. AHPL.N0000 M 68.50 21,697 4 42.8 30,330 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 12.2 11.6 12.2 4.0 5.8 9.9

Keel l s Hote ls KHL.N0000 M 11.70 16,294 1,456.1 17,037 11.19 1.05 1,105 1,121 1,496 1,121 0.76 0 .77 1 .03 0.77 111 1 33 15.4 15.2 1 1.4 15.2 0.0 0.0 6.8

Taj TAJ.N0000 M 26.50 2,330 139.6 3 ,700 16.69 1.59 125 246 293 224 0.89 1.76 2.10 1.61 26 97 19 29.7 15.0 12.6 16.5 0.0 0.0 5.4

Tra ns As ia TRAN.N0000 M 82.40 6,054 2 00.0 16,480 30.27 2.72 625 1,066 1,180 1,066 3.12 5.33 5.90 5.33 (5) 71 11 26.4 15.5 14.0 15.5 3.0 3.6 10.3

Sample Sector (6) 61,773 2,622.9 93,417 23.55 1.51 5,674 7,086 8,116 6,059 2.16 2.70 3.09 2.31 24 25 15 16.5 13.2 11.5 15.4 9.2

Full Sector (36) 146,038 1.34 16.7

Land and Property

Col ombo La nd CLND.N0000 D 40.30 3,712 199.9 8,055 18.57 2.17 10 335 -90 12 48 0.05 1.68 (0.45) 0 .0 6 0 .2 4 (98) 3,393 (127) 113 839.9 24.0 N/A 671.3 166.3 0.0 0.0 0.3

O ve rs e as R ea l it y O SE A.N 00 00 D 1 7. 60 2 2, 43 7 8 43 .5 1 4, 84 5 2 6.6 0 0 .6 6 2 ,6 81 2 ,4 69 1 ,9 24 2 ,1 58 2 ,9 91 3 .1 8 2 .9 3 2 .2 8 2 .5 6 3 .5 5 21 8 ( 8) ( 22 ) 12 5.5 6.0 7.7 6.9 5.0 0.3 1.7 11.9

Sample Sector (2) 26,149 1,043.4 2 2,901 25.06 0.88 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 8.5 8 .2 12.5 10.6 7.5 1.1 10.3Full Sector (18) 39,750 0.86 9.2

Manufacturing

ACL Cables ACL.N0000 M 65.30 5,718 59.9 3,911 95.47 0.68 485 532 543 8.10 8.88 9.06 127 10 8.1 7.4 7.2 1.0 1.5 8.5

Gra in El eva tors GRAN.N0000 D 38.40 2,684 60.0 2,304 44.74 0.86 388 135 87 93 150 6 .46 2.24 1.45 1.55 2.49 ( 18 ) ( 65 ) ( 35 ) 7 5.9 17.1 26.5 24.8 15.4 0.1 0.4 14.4

C he vr on L ub ri ca n ts L LU B .N 00 00 D Hold 300.00 4, 536 120.0 36, 000 37.80 7.94 2,001 2, 288 2,5 26 2, 621 2, 396 16.67 1 9.06 2 1.05 2 1.84 19.97 33 14 10 4 18.0 15.7 14.3 13.7 15.0 11.0 3.7 44.1

La nka Wa ll ti le LWL.N0000 M LTB 58.90 4, 618 54.6 3, 216 84.57 0.70 73 1 520 5 45 600 520 13.39 9.52 9.98 1 0.99 9.52 51 (29) 5 10 4.4 6.2 5.9 5.4 6.2 3.0 5.1 15.8

Pi ra ma l Gl as s GLAS.N0000 M LTB 5.60 3,629 950.1 5,320 3.82 1.47 686 724 761 813 732 0.72 0.76 0.80 0.86 0.77 19 5 5 7 7.8 7.3 7.0 6.5 7.3 0.4 6.8 18.9

Ro ya l Ce ra mi c RCL.N0000 M LTB 8 8. 10 8 ,4 01 1 10 .8 9 ,7 61 7 5. 83 1 .1 6 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 7.9 5.8 5.3 4.5 5.6 2.0 2.3 14.8

Te xtu re d Je rs ey TJL.N 0000 M Buy 1 3. 60 5 ,7 32 6 55 .0 8 ,9 08 8 .7 5 1 .5 5 6 28 1 ,0 17 1 ,1 86 1 ,4 83 1 ,0 17 0 .9 6 1 .5 5 1 .8 1 2 .2 6 1 .5 5 (8) 62 17 25 14.2 8.8 7.5 6.0 8.8 1.2 9.1 11.0

Tokyo Cement TKYO.N0000 M 24.80 6,722 334.1 8 ,286 20.12 1.23 979 828 828 2.93 2.48 2.48 14 (15) 8.5 10.0 10.0 1.0 4.0 14.6

Sample Sector (8) 42,040 2,344.5 77,706 17.93 1.85 7,141 7,713 7,937 3.05 3.29 3.39 15 8 10.9 10.1 9.8 4.2 17.0

Full Sector (36) 106,414 1.42 8.6

Motors

Colonial Motors COLO.N0000 M 95.10 3 ,813 15.2 1,446 250.88 0.38 453 120 22 29.80 7.91 1.47 95 (73) 3.2 12.0 64.8 3.0 3.2 11.9

D ie se l & Mo tor En gi ne eri ng D IMO.N0000 M 483.00 7,631 8.9 4,287 859.71 0.56 2,702 462 462 304.36 52.06 52.05 2 7 (83) 1.6 9.3 9.3 10.0 2.1 35.4

Uni ted Motors UML.N0000 M 108.00 7,371 67.3 7,265 109.57 0.99 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 12,998 205.98 0.69 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.4 5.0 5.2 6.2 28.9

Full Sector (6) 22,193 0.99 6.6

Oil Palms

Buki t Da ra h BUKI.N0000 M 683.80 31,845 102.0 69,748 312.21 2.19 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 13.8 15.8 3.0 0.4 22.9

Sample Sector (1) 31,845 102.0 69,748 312.21 2.19 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 13.8 15.8 3.0 0.4 22.9

Full Sector (5) 101,239 1.84 19.8

Plantations

Ba la ngoda BALA.N0000 D 28.20 2,638 23.6 667 111.60 0.25 25 118 62 1.08 5.01 2.64 (85) 366 26.2 5.6 10.7 1.0 1.0

Horana HOPL.N0000 M 22.30 1,489 25.0 558 59.57 0.37 87 220 201 3.49 8.82 8.04 (73) 152 6.4 2.5 2.8 2.0 5.9

Kegal le KGAL.N0000 M 96.10 3,349 25.0 2,403 133.97 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 82.00 2,515 34.0 2,788 73.98 1.11 460 584 650 13.54 17.19 19.12 44 27 6.1 4.8 4.3 6.0 7.3 18.3

Kotaga la KOTA.N0000 M 42.10 3,426 40.0 1,684 85.64 0.49 439 517 378 10.97 12.92 9.44 (34) 18 3.8 3.3 4.5 2.5 5.9 12.8

Wata wa la WATA.N0000 M 10.70 3,843 236.7 2,532 16.24 0.66 455 680 755 1.92 2.87 3.19 (29) 49 5.6 3.7 3.4 0.8 11.8

Sample Sector (6) 17,261 384.3 10,631 44.91 0.62 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.8 4.0 4.1 13.0

Full Sector (18) 22,768 0.65 4.0

Power and Energy

La nka IOC LIOC.N0000 M 27.00 13,028 532.5 14,378 24.46 1.10 906 2,911 2,911 1.70 5.47 5.47 3 221 15.9 4.9 4.9 0.0 7.0

Va l l ibel VPEL.N0000 M 6.10 1,823 747.1 4,557 2.44 2.50 249 289 301 0.33 0.39 0.40 (41) 16 18.3 15.8 15.1 0.3 4.1 13.6

La ugfs Ga s LGL.N0000 M 27.20 6,488 387.0 10,526 16.76 1.62 822 1,061 1,021 2.13 2.74 2.64 (4) 29 12.8 9.9 10.3 1.5 5.5 12.7

Sample Sector (3) 21,339 1,666.6 29,462 12.80 1.38 1,977 4,261 4,234 1.19 2.56 2.54 (8) 116 14.9 6.9 7.0 9.3

Full Sector (8) 34,957 1.27 7.5

Telecommunications

Dia log Axiata DIAL.N0000 D 8.50 38,776 8,143.8 69,222 4.76 1.79 5,354 6,521 7,569 8,156 0.66 0.80 0.93 1.00 6 22 16 12.9 10.6 9.1 8.5 0.3 3.9 13.8

Sri La nka Te lecom SLTL.N0000 D 39.40 56,136 1,804.9 71,111 31.10 1.27 4,781 5,329 5,912 4,976 2.65 2.95 3.28 2.76 21 11 11 14.9 13.3 12.0 14.3 0.9 2.2 8.5

Sample Sector (2) 94,912 9,948.6 140,334 9.54 1.48 10,135 11,850 13,481 13,132 1.02 1.19 1.36 1.32 13 17 14 13.8 11.8 10.4 10.7 10.7

Full Sector (2) 144,850 1.53 11.0

Trading

Browns BRWN.N0000 M 98.50 14,696 7 0.9 6,981 207.36 0.48 1,164 2 40 240 16.43 3.39 3.39 ( 47 ) ( 79 ) 6.0 29.1 29.1 1.3 1.3 7.9

S in ge r S ri La nk a S IN S.N 0000 D 94.60 4, 681 125.2 11, 845 37.39 2.53 1,266 1,138 985 10.11 9.09 7.87 90 (10) 9.4 10.4 12.0 6.0 6.3 27.1

Sample Sector (2) 19,378 196.1 18,826 98.82 0.97 2,431 1,378 1,225 12.40 7.03 6.25 ( 15 ) ( 43 ) 7.7 13.7 15.4 12.5

Full Sector (8) 24,870 1.07 18.7

Sample Market (70) 1,013,448 37,951.3 1,821,136 26.70 1.80 138,331 150,117 169,632 195,077 166,270 3.64 3.96 4.47 5.14 4.38 1 7 9 13 15 13.2 1 2.1 10.7 9.3 11.0 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


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,

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 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 inf ormati on 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 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 securi ties or other financi al instr uments.

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 otherwise, 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 34 (23.08.2013) (1)