Weekly Plus - 2013 Issue 46 (15.11.2013)

8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)

1/12

2013 Issue 46 Week Ending 15-11-2013

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:Sampath Bank -Quick View Pg 09

Our Core Coverage Pg 10-Pg 11


2/12

Current WoW %

ASPI 5810.97 -1.0%

S&P SL20 3174.68 -2.1%

Turnover (LKR 'bn) 2,247.7 -36.5%

Volume ('mn) 131.1 -10.9%

Market Cap. (LKR 'bn) 2,417.4 -0.7%

LKR ('mn) Current WoW %

Foreign Purchases 520.0 -61.5%

Foreign Sales 636.3 -66.9%

Net Foreign Inflow -116.3 -79.7%

Foreign Participation 22% -4.2%

Net Foreign 675 -116

Current WoW %

PER 15.2 -2.0%

PBV 2.0 -2.2%

DY 3.0 7.1%

Current WoW %

BANKS FINANCE & INS. 12,596.2 -0.8%

BEV. FOOD & TOBACCO 18,870.1 -0.5%

CHEM. & PHARMA. 6,429.8 -0.5%

CONS. & ENG. 2,803.8 0.5%

DIVERSIFIED 1,733.3 -2.9%

HEALTH CARE 707.5 3.5%

HOTELS & TRAVELS 3,213.3 0.4%

JKH 12.41% RICHARD PIERIS -0.18% LAND & PROPERTY 548.5 -0.8%

C T HOLDINGS 4.37% TEXTURED JERSEY -0.15% MANUFACTURING 2,867.1 -0.6%

NESTLE (+) 0.0% TOKYO CEMENT -0.40% MOTORS 14,767.1 0.8%

HNB[X.0000] (+) 0.75% PCH HOLDINGS -36.5% PLANTATIONS 706.9 -3.0%

AITKEN SPENCE 0.12% NATION LANKA -2.81% TELECOM 158.6 -0.2%

Growth in

Value

LKR 'mn

12815.0

114.7

32.1

26.3

24.8

-6.3

-6.0

-3.0

-2.8

-572

3243.71

3538.19

15.5

2.1

2.8

Previous

12,699.9

18,960.2

-572.0

23%

1,351.0

1,923.0

147.21

2435.04

Previous

Weekly Stat Page

Previous

Weekly Market Statistics

Weekly Foreign Flow

Weekly Market Valuations

Weekly Sector Statistics

Decline in

Foreign

Holding 3,201.9

2,884.9

14,656.0

Previous

5870.47

728.9

158.9

445

552.9

Change in Foreign Holding

Decline in

Value

LKR 'mn

Decline in Foreign Holding

Growth in

Foreign

Holding

Growth in Foreign Holding

2,789.3

1,785.7

683.3

6,459.5

-13.8

5,700

5,750

5,800

5,850

5,900

5,950

6,000

Daily Index Movement

ASPI

0

50

100

150

200

250

300

350

0

1,000

2,000

3,000

4,000

5,000

25-Oct 1-Nov 8-Nov 15-Nov

('Mn)

LKR('Mn)

Weekly Turnover and Volume

Turnover (LHS) Volume (RHS)

0

500

1,000

1,500

2,000

2,500

25-Oct 1-Nov 8-Nov 15-Nov

LKR('Mn)

Weekly Foreign Purchases and Sales

Foreign Buying Foreign Sales

0%

10%

20%

30%

40%

50%

60%

70%

Daily Foreign Activity

Fo re ign Activity Line ar (F oreign Activity)

Page | 2


3/12

Company WoW %

S M B LEASING[NON V 33.33%

SAMSON INTERNAT. 26.71%

THREE ACRE FARMS 17.26%

ASIRI CENTRAL 15.54%S M B LEASING 14.29%

Company WoW %

MASKELIYA -18.90%

MADULSIMA -13.85%

MIRAMAR -13.58%

TOUCHWOOD -13.16%

MALWATTE[NON VOTI -13.04%

Company WoW %

JKH -4.10%

CEYLON GUARDIAN 3.65%

DIALOG 1.11%

C T HOLDINGS 0.13%

SAMPATH -3.62%

Company WoW %

DIALOG 1.11%

PCH HOLDINGS 0.00%

TOUCHWOOD -13.16%

ASIRI 3.92%

PANASIAN POWER 0.00%

3.80

15.30

2.50

Current

9.10

1.50

3.30

15.90

2.50

15,687,538

63,100,263

9,495,162

High

9.20

1.60

3.90

15.90

2.50

9.10

149.90

165.00

Turnover

142,852,308

12,907,654

Previous

9.00

1.50

106,523,157

9.20

150.00

170.50

9.00

149.70

Current

10.30

11.20

45.80

3.30

4.00

Current

210.40

198.90

High

12.70

12.50

50.50

3.90

5.30

171.20

Previous

12.70

13.00

53.00

3.80

4.60

High

220.00

199.90

Previous

219.40

191.90

Turnover

962,353

80,891

43,026

15,687,538

4,394,517

Volume

92,620

6,905

892

4,492,922

1,004,102

Previous

0.30

80.50

30.70

251.000.70

Current

0.40

102.00

36.00

290.000.80

Weekly Stock Trends

52 Low

0.30

Weekly Top Gainers

52 HighTurnover

613,710

763,425

12,389,965

42,7832,214,916

Volume

1,889,750

8,175

341,189

1472,782,764

High

0.40

103.00

39.20

295.000.90

15,866,609

164.60

0.90

10.50

2.20

120.00

3,800,605

8.90

1.30

15,866,609

8,897,438

4,492,922

3,993,806

242.00

15.70

16.00

3.10

Weekly Top Losers

Weekly Top Performers

Weekly Top Volume

Low

Low

Low

10.10

11.20

45.50

766,935

641,470

Volume

Turnover

578,637,630

145,238,913

142,852,308

114,980,764

Volume

2,774,972

732,903

160.00

52 Low

9.70

204.00

0.50

104.90

57.00

329.901.10

3.20

15.10

2.40

Low

0.30

81.50

52 High

16.20

299.80

29.90

252.200.70

3.20

4.00

206.50

190.00

8.90

143.00

164.60

70.50

24.50

205.000.50

52 High 52 Low

52 High 52 Low

9.20 0.50

18.60 9.30

100.90 38.00

15.70 0.90

5.30 3.10

9.90 7.90

211.50 149.90

9.90 7.90

Page | 3


4/12

DIVIDENDS

RIGHTS ISSUE

Taprobane Holdings

Senkadagala Finance

S&P SL20 Companies Previous WoW % Nanda Investments & Finance

JOHN KEELLS HOLDINGS 219.40 -4.10% Pelawatte Sugar

COMMERCIAL BANK 115.40 -2.08% ###THE BUKIT DARAH 690.00 -2.17% SCRIP DIVIDEND

HATTON NATIONAL BANK 145.00 -0.48%

CARSONS CUMBERBATCH 385.00 -2.60%

SAMPATH BANK 171.20 -3.62%

CEYLON TOBACCO COMPANY 1,061.30 -0.59%

DFCC BANK 122.00 -1.97% CAPITALIZATION OF RESERVES

AITKEN SPENCE 113.60 -3.08%

NATIONAL DEVELOPMENT BANK 152.00 -1.18%

C T HOLDINGS 149.70 0.13%

DISTILLERIES 181.70 1.27%HAYLEYS 290.00 0.34% SUBDIVISION OF SHARES

CHEVRON LUBRICANTS LANKA 265.00 0.19%

DIALOG AXIATA 9.00 1.11%

CARGILLS (CEYLON) 152.50 -1.64%

AITKEN SPENCE HOTEL HOLDINGS 65.60 4.27% CONSOLIDATION OF SHARES

NESTLE LANKA 1,939.20 -0.39%

ASIAN HOTELS & PROPERTIES 68.00 0.00%

SRI LANKA TELECOM 38.10 -1.57%

110.10

150.20

149.90

184.00291.00

265.50

9.10

150.00

68.40

Current

210.40

113.00675.00

144.30

375.00

165.00

1,055.00

119.60

0

19-11-2013

28-11-2013

12-12-2013

00-01-1900

0.12

0.58

22.50

30.00

0.00

To Be Notified1 for 4 @ LKR18.0

28-11-2013

To Be Notified

00-01-1900

Renunciation

0

XR Date

25-11-2013

18-12-2013

29-11-2013

02-12-2013

06-12-2013

Tess Agro [V & NV] 01 for 03 @ LKR1.0

Company Proportion EGM Date XC Date

0-Jan-19000-Jan-1900

0-Jan-1900 0-Jan-1900

0-Jan-1900

0-Jan-1900

0

0

0-Jan-1900

EGM Date Trading Date

1,931.70

68.00

37.50

0-Jan-19000-Jan-1900

0-Jan-1900

Office Equipment PLC

0-Jan-1900

0.30

12.40

0

Odel PLC

John Keel ls Holdings PLC (On the e

Hemas Holdings PLC

Ceylon Tobacco Company PLC

18-11-2013

18-11-2013

19-11-2013

27-11-2013

27-11-2013

27-11-2013

Payment

Proportion

Announcements

Company Dividend (LKR)

21-11-2013

21-11-2013

28-11-2013

28-11-2013

1.00

XD Date

106,523,157

11,807,766

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

11,485,361911,940

S & P SL20 Debrief

8,733,283

13,587,280

2,068,147

0-Jan-1900

Metropolitan Resource Holdings P

The Nuwara Eliya Hotels Company

11-11-201301 for 03 @ LKR3.0

01 for 10 @ LKR40.0

01 for 20 @ LKR9.0Turnover

578,637,630

Company

0-Jan-1900

12,336,413

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

Company Proportion EGM Date Trading Date

0-Jan-1900

Company Proportion

26,946,721

8,149,358

114,980,764

180,532

8,107,845

142,852,308

2,734,678

4,478,407

32,527,919

668,944

506,996

0-Jan-1900 0-Jan-1900

20-12-2013

0 0

0-Jan-1900 0 0

23-12-2013

0-Jan-1900

3,100

3,150

3,200

3,250

3,300

3,350

Daily Index Movement

S&P SL20

Page | 4


5/12

Local Economy

CURRENCY MOVES

129

130

131

132

133

134

LKR USD : LKR

1.26

1.28

1.30

1.32

1.34

1.36

1.38

LKR Japanese Yen : LKR

170

172

174

176

178

180182

LKR EURO : LKR

102

103

104

105

106

107

LKR Singapore Dollar : LKR

202

204

206

208

210

212

214216

LKR GBP : LKR

1.80

1.851.90

1.95

2.00

2.05

2.10

2.15

2.20

LKR Indian Rupee : LKR

Page | 5


6/12

BALANCE OF TRADE TOURISM

For the Month Ending: Sep-13 For the Month Ending:

Sep-13 MoM % Sep-12 2013 2012

Exports 890 -3% 802 Sep-13 89,761 71,111

Imports 1,614 0% 1,315 YTD 801,210 693,772

Balance of Trade -724 -4% -513

COLOMBO TEA AUCTION STATISTICS

Sale of

06-Nov-13 WoW %

High Grown 446.38 0.67%

Mid Grown 442.19 -1.46%

Low Grown 515.18 -7.90%

Total 492.46 -5.50%

COLOMBO RUBBER AUCTION STATISTICS

For the Month Ending: Oct-2013

Oct-13 Basis Points Sale of

Point to Point 6.7% -50 22-Oct-13 WoW %

Annual Average Chang 7.6% 20 RSS 1 365.00 -11.30%

1-Yr T-Bill 11.30% -78 Brown Crepe 1X 420.00 1.20%

448.76

559.38

521.10

Sep-13

6.2%

7.8%

10.52%

Sale of

26-Sep-13

411.50

415.00

Sale of

15-Aug-13

Corres. 2012

2.44%

-11.30%

WoW %

23%

-41%

426.83

370.83

392.02

396.08

Local Economy

Elevation

Sep-13

INFLATION & INTEREST RATE

Aug-13

-698

Sale of

918

1,616

26%

15%

24.33%

411.50

410.00

YoY %

11%

Elevation

4.58%

19.24%

31.42%

30-Oct-13

443.39

YoY %

Change %

-1,200

-800

-400

0

400

800

1,2001,600

2,000

Balance of Trade

Exports Imports Balance of Trade

20,000

40,000

60,000

80,000100,000

120,000

140,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Tourist Arrivals

2010 2011 2012 2013

2%

4%

6%

8%

10%

12%

14%

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

Inflation and Treasury Bill Rate

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

Page | 6


7/12

Global Markets

EQUITY MARKET OUTLOOK

14,000

14,500

15,000

15,500

16,000

Index

Dow Jones Industrial Average

6,000

6,200

6,400

6,600

6,800

7,000

Index FTSE 100 Index

1,550

1,600

1,650

1,700

1,750

1,800

1,850

Index S&P 500 Index

7,000

9,000

11,000

13,000

15,000

17,000Index Nikkei 225

2,500

2,600

2,700

2,800

2,900

3,000

3,100IndexEURO STOXX 50 Price EUR

20,500

21,000

21,500

22,000

22,500

23,000

23,500

24,000Index Hong Kong Hang Seng Index

Page | 7


8/12

WTI Crude USD/bbl 93.88 -0.6%

Gold USD/t oz. 1,280.80 -0.2%Copper USd/lb. 316.45 -3.1%

Cotton USd/lb. 77.79 -1.2%

Wheat USd/bu. 648.00 -0.9%

94.44

Global Markets

78.75

654.00

CommodityThis

Week

Last

Week

WoW

Change

1,283.70326.65

GLOBAL COMMODITY TREND

80

85

90

95

100

105

110

115

USD/bbl

WTI CRUDE FUTURE

70

75

80

85

90

USd/lb. COTTON NO.2 FUTURE

1,150

1,200

1,250

1,300

1,350

1,400

1,450

USD/t oz.

GOLD 100 OZ FUTURE

600

620

640

660

680

700

720

USd/bu. WHEAT FUTURE(CBT)

305

310

315

320

325

330

335

340

USd/lb.

COPPER FUTURE

Page | 8


9/12

Softlogic quity ResearchPage | 9

SAMP recorded net earnings of LKR859.2mn in3Q2013, 19%YoY dip, owing to a significant impairment provisioning which resulted in the rise in collective impairment by aconsiderable 1861%%YoY to LKR1.1bn due to the dip in global gold prices. However, amidst this challenging environment SAMP recorded a healthy 44%YoY growth in its Net

Interest Income.

Notable drop in earnings due to pawning impairments: SAMP reported a significant 20%YoY dip in earnings in 3Q2013 due to

an impairment provisioning of LKR1.1bn which was a notable 1862%YoY rise primarily resulted from the provisions made on

pawning portfolio. SAMP also recorded 33.6%YoY decline in earnings for the first 9 months in 2013 due to revaluation losses

resulted from rupee fluctuations and a pawning impairment provisioning of LKR2.0bn which resulted in a 1096%YoY increase in

collective impairment provision to LKR2.3bn. This pawning provisioning covered both fallen due more than 12 months LKR11bn

and current pawning advances which are not yet fallen due less than 12 months LKR47.7bn. The bank had a 25% exposure to

pawning advances as at 30-09-2013.

Core operations of the banks denoted healthy improvements: Amidst all these challenges SAMP made a healthy 45%YoY

growth in NII in 3Q2013 and a 33%YoY growth in 1st 9 months in 2013 led by a healthy expansion in the loan book of 18.2% and

30 basis point improvements in NIMs to 4.5% cf. to the base date at 31-12-2012 owing to effective management of fund base

through ALCO and reduction in interest rate economy which favorably affected the banks maturity mismatch. In addition, fee

and commission income grew by 25%YoY in 3Q2013 to support the bottom line. Furthermore cost-to-income ratio denoted a

healthy improvement to 49.8% in 3Q2013 cf. 62.5% in the comparative quarter.

We expect SAMP to record net earnings of LKR4.0bn (-23.7%YoY) in 2013E driven primarily by the healthy

loan book expansion and the positive impact of the interest rate cut which would further favourably

impact SAMP in the final quarter and hence set-off some of the hit resulted from impairment provisioning.

In 2014E we forecast a net earnings of LKR6.2bn. (+53%YoY) with the expected increase in NII resulting

from loan book expansion leveraging on its rapid branch expansion in the last few years and highly likely

absence of significant impairment provisioning. This translates to a forward PER of 7.0x in 2013E and 4.5x

in 2014E at a market price of LKR169.1. We rate BUY.

LKR ('mn) 3Q2013 3Q2012 YoY % 2Q2013 QoQ %

Net Interest Income 4,409 3,049 45% 3,848 15%

Total Operating Income 5,689 3,824 49% 5,174 10%

Operating profit before VAT 1,492 1,645 -9% 1,113 34%

Profit before tax 1,492 1,645 -9% 902 65%

Profit for equity holders 859 1,064 -19% 652 32%

Quarterly Performance

LKR ('mn) 1-3Q2013 1-3Q2012 YoY %

Net Interest Income 11,580 8,706 33%

Total Operating Income 15,328 13,900 10%

Operati ng profi t before VAT 4,376 6,430 -32%

Profit before tax 3,644 5,521 -34%

Profit for equity holders 2,567 3,867 -34%

9 Month Performance

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

Net Profit 3,683 5,343 4,074 6,241 7,609

Adjusted EPS (LKR) 22.0 31.8 24.3 37.2 45.4

% Growth 5.7% 45.1% -23.7% 53.2% 21.9%

PER (x) 7.7 5.3 7.0 4.5 3.7

PBV (x) 1.2 1.0 0.9 0.8 0.7

NAVPS (LKR) 136.0 162.2 178.4 202.3 231.3

Adjusted DPS 9.0 12.0 8.3 13.4 16.3

Div Yield (%) 5.3% 7.1% 4.9% 7.9% 9.7%

Dividend Payout 39.7% 36.5% 34.0% 36.0% 36.0%


10/12


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

15-Nov-13 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 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) 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 i na n ce CF IN .N 0000 M Buy 1 80.00 17,646 104.9 18,879 168.24 1.07 2,675 3,041 3,437 3,829 3,098 25.51 2 9.00 3 2.77 3 6.51 29.54 46 14 13 11 7.1 6.2 5.5 4.9 6.1 2.9 1.6 15.2

Ceyl inco Ins urance CINS.N0000 D 1,333.20 14,123 26.4 35,216 534.67 2.49 1 ,508 1,953 2,014 57.08 73.94 76.24 57 30 23.4 18.0 17.5 12.5 0.9 10.7

Co mm er ci a l B a nk CO MB .N 00 00 D Buy 1 13. 00 55, 572 8 49. 0 9 5,9 36 65. 46 1.7 3 8 ,04 8 10, 080 10, 685 1 2, 591 9 ,2 23 9. 48 1 1. 87 1 2.5 9 14. 83 10. 86 46 25 6 18 1 1.9 9. 5 9. 0 7. 6 10 .4 4. 5 4. 0 14. 5

Commercia l Bank [X] COMB.X0000 D Buy 89.20 55,572 849.0 75,730 65.46 1.36 8,048 10,080 10,685 12,591 9,223 9.48 1 1.87 1 2.59 1 4.83 10.86 46 25 6 18 9.4 7.5 7.1 6.0 8.2 4.5 5.0 14.5

DFCC Ba nk DFCC.N0000 M MTB 119.60 36,565 265.1 31,706 137.93 0.87 2 ,900 3,523 3,453 3,915 3,436 10.94 13.29 13.02 14.77 12.96 (43) 21 (2) 13 10.9 9 .0 9.2 8.1 9.2 5.0 4.2 7.9

H a tt on N a ti o n al B a nk H NB .N 00 00 D Buy 1 44.30 53,980 399.4 57,636 135.15 1.07 6,149 8,111 9,258 11,113 8,257 15.39 20.31 2 3.18 2 7.82 20.67 28 32 14 20 9.4 7.1 6.2 5.2 7.0 8.5 5.9 11.4Hatton National Bank [X] HNB.X0000 D Buy 1 11.50 53,980 399.4 44,535 135.15 0.83 6,149 8,111 9,258 10,908 8,257 15.39 20.31 2 3.18 2 7.82 20.67 28 32 14 20 7.2 5.5 4.8 4.0 5.4 8.5 7.6 11.4

La nk a Ori x Le as i ng Co mp an y LOLC.N0000 M 63.10 2 0,735 475.2 2 9,985 43.63 1.45 2,933 1,863 1,985 6.17 3.92 4.18 (24) (36) 10.2 16.1 15.1 0.5 0.8 14.1

LB Fi na nce LFIN.N0000 M Buy 1 02 .9 0 5 ,5 71 6 9. 3 7 ,1 27 8 0. 43 1 .2 8 1 ,7 14 1 ,7 03 2 ,1 14 2 ,4 94 1 ,5 66 2 4. 75 2 4. 58 3 0. 52 3 6. 01 2 2. 61 6 8 (1) 24 18 4.2 4.2 3.4 2.9 4.6 6.5 6.3 30.8

National Development Bank NDB.N0000 D Buy 150.20 23,785 164.7 24,737 144.42 1.04 2 ,706 8,854 3,533 4,286 8,817 16.43 53.76 21.45 26.03 53.53 26 227 (60) 21 9.1 2.8 7.0 5.8 2.8 15.0 10.0 11.4

N at io ns T ru s t B an k N TB .N 00 00 D Buy 60.60 10,591 230.6 13,975 45.93 1.32 1,534 1,951 2,438 2,990 2,002 6.65 8.46 1 0.57 12.96 8.68 41 27 25 23 9.1 7.2 5.7 4.7 7.0 2.1 3.5 14.5

Pa n As ia B an k PAB C.N0000 D Buy 16.10 4,100 295.0 4,750 13.89 1.16 824 811 859 995 617 2.79 2.75 2.91 3.37 2.09 1 28 (2) 6 16 5.8 5.9 5.5 4.8 7.7 1.0 6.2 20.1

Pe op le 's L ea s in g PL C. N00 00 M Buy 1 3. 50 1 8, 94 2 1, 57 9. 9 2 1, 32 8 11 .9 9 1. 13 4 ,5 42 3 ,0 73 3 ,0 15 3 ,5 90 3 ,0 16 2 .8 7 1 .9 5 1 .9 1 2 .2 7 1 .9 1 7 4 ( 32) ( 2) 19 4.7 6.9 7.1 5.9 7.1 1.3 9.3 24.0

S amp ath B an k S AMP.N0000 D Buy 165.00 27,971 167.8 27,685 166.70 0.99 4 ,151 5,212 3,500 5,339 4,066 24.74 31.06 20.86 31.82 24.23 19 26 (33) 53 6.7 5.3 7.9 5.2 6.8 6.0 3.6 14.8

Seylan Bank SEYB.N0000 D 65.00 20,343 345.0 22,422 58.97 1.10 1,006 2,063 2,042 2.92 5.98 5.92 (17) 105 22.3 10.9 11.0 1.0 1.5 4.9

La nk a Ori x F in an ce LOF C.N0000 M 2.80 5,479 2,800.0 7,840 1.96 1.43 1,246 686 898 1,026 705 0.44 0.25 0.32 0.37 0.25 (0) ( 45) 31 14 6.3 11.4 8.7 7.6 11.1 - - 22.7

Sample Sector (16) 315,401 7,772.2 399,222 40.58 1.27 41,935 52,924 68,324 5.40 6.81 8.79 19 26 9.5 7.5 5.8 13.3

Full Sector (60) 521,752 1.35 7.9

Beverage, Food and Tobacco

Cargi l l s CARG.N0000 M 150.00 12,008 224.0 33,600 53.61 2.80 1,079 578 453 4.82 2.58 2.02 (1) ( 46) 31.1 58.2 74.2 2.0 1.3 9.0

Ce yl on T ob ac co Co mp an y CT C.N 0000 D 1 ,0 55. 00 5, 041 1 87. 3 19 7,6 27 26. 91 39. 20 6 ,56 9 8, 176 8, 734 9, 545 8 ,5 70 35. 07 43. 65 4 6.6 3 5 0. 95 45. 75 29 24 7 9 3 0.1 24. 2 22. 6 20 .7 23 .1 4 5. 2 4. 3 13 0. 3

Di sti ll eri es DIST.N0000 M LTB 184.00 50,390 300.0 55,200 167.97 1.10 5 ,675 5,520 5,816 6,452 5,701 18.92 18.40 19.39 21.51 19.00 (30 ) ( 3) 5 11 9.7 10.0 9.5 8.6 9.7 3.0 1.6 11.3

L io n B re we ry L ION .N 0000 M 3 48. 00 5, 878 80. 0 2 7,8 40 73. 47 4.7 4 1 ,26 2 1 ,046 1, 121 1, 465 1 ,0 20 15. 78 13. 07 1 4.0 1 18. 31 12. 76 25 (17) 7 31 22.1 26.6 24.8 19.0 27.3 4.0 1.1 21.5

Ne stl e ( La nk a) NE ST.N0000 D 1,931.70 2,569 53.7 103,781 47.82 40.39 2,633 2,994 3,513 3,822 3,449 49.01 5 5.73 6 5.39 7 1.14 64.21 39 14 17 9 39.4 34.7 29.5 27.2 30.1 54.0 2.8 102.5

Sample Sector (5) 75,887 845.0 418,048 89.80 5.51 17,219 18,313 19,194 20.38 21.67 22.71 0 6 24.3 22.8 21.8 22.7

Full Sector (20) 473,703 3.79 19.6

Chemicals & Pharmaceuticals

CIC Holdings CIC.N0000 M 52.00 7,685 9 4.8 4,928 81.09 0.64 863 231 181 9.11 2.44 1.91 (7) ( 73) 5.7 21.3 27.3 1.6 3.1 11.2

Lankem Ceylon LCEY.N0000 M 136.90 3,612 24.0 3,286 150.48 0.91 513 297 194 21.39 12.36 8.10 (55) (42) 6.4 11.1 16.9 1.5 1.1 14.2

Sample Sector (2) 11,296 118.8 8,214 95.11 0.73 1,376 528 375 11.59 4.44 3.16 (33) (62) 6.0 15.6 21.9 12.2

Full Sector (10) 17,897 0.89 12.5

Construction & Engineering

Co lo mb o Do ckya rd DOCK.N0000 D 182.40 10,172 71.9 13,107 141.55 1.29 1,804 1,977 1,229 25.10 27.51 17.11 (13) 10 7.3 6.6 10.7 8.0 4.4 17.7

Sample Sector (1) 10,172 71.9 13,107 141.55 1.29 1,804 1,977 1,229 25.10 27.51 17.11 (13) 10 7.3 6.6 10.7 17.7

Full Sector (4) 39,753 2.61 9.1

Diversified H oldings

Ai tken Spence SPEN.N0000 M 110.10 28,215 406.0 44,700 69.50 1.58 3,488 3,267 3,293 8.59 8.05 8.11 38 (6) 12.8 13.7 13.6 1.5 1.4 12.4

CT Hol di ngs CTHR.N0000 M 149.90 16,957 183.1 27,446 92.61 1.62 1,159 1,150 1,619 6.33 6.28 8.84 34 (1) 23.7 23.9 17.0 0.7 0.4 6.8

Ca rs on s Cu mb erb atch CAR S.N0000 M 375.00 35,229 1 96.4 7 3,645 179.38 2.09 7,017 4,570 4,692 35.73 23.27 23.89 55 (35) 10.5 16.1 15.7 2.0 0.5 19.9

E xp o la n ka H o ld i n gs E XP O. N0 00 0 M LTB 7.40 9,359 1,954.9 14,466 4 .79 1.55 1,033 1 ,061 1 ,302 1,100 0 .53 0.54 0.67 0.56 (33) 3 23 14.0 13.6 11.1 13.2 0.1 1.6 11.0

Hayleys HAYL.N0000 M 291.00 22,638 75.0 21,825 301.84 0.96 1,038 1,854 2,054 13.84 24.72 27.39 43 7 9 21.0 11.8 10.6 4.5 1.5 4.6

Hema s Hol di ngs HHL.N0000 M 32.60 12,374 515.3 16,798 24.01 1.36 1,165 1,658 1,600 2.26 3.22 3.11 (4) 42 14.4 10.1 10.5 0.8 2.3 9.4

J oh n K ee l l s H o l di n gs J KH .N 00 00 M 2 10 .4 0 9 0, 68 6 9 90 .0 2 08 ,2 91 9 1. 60 2 .3 0 9 ,6 87 1 2, 20 1 10 ,9 52 1 0, 65 3 12 ,1 29 9 .7 8 1 2. 32 1 1. 06 1 0. 76 1 2. 25 1 7 2 6 ( 10) ( 3) 21.5 17.1 19.0 19.6 17.2 3.5 1.7 1 0.7

Ri cha rd Pei ri s RICH.N0000 M 6.50 8 ,257 1,958.1 12,728 4.22 1.54 2,575 1,903 1,642 1.32 0.97 0.84 53 (26) 4.9 6.7 7.7 0.2 3.1 31.2

Softlogic Holdings SHL.N0000 M 8.50 7,384 779.0 6,622 9.48 0.90 483 301 269 0.62 0.39 0.35 (42) (38) 13.7 22.0 24.6 0.3 3.5 6.5

Va ll ibe l On e VONE.N0000 M Buy 17. 00 30, 980 1,0 86. 6 1 8,4 72 28. 51 0.6 0 2 ,02 5 1, 403 2, 323 1 ,5 50 1 .86 1. 29 2.1 4 1. 43 2 50 (31) 66 9.1 13.2 8.0 11.9 0.0 0.0 6.5

Sample Sector (10) 262,079 8,144.3 444,993 32.18 1.70 29,669 29,367 29,948 3.64 3.61 3.68 30 (1) 15.0 15.2 14.9 11.3

Full Sector (18) 475,170 1.57 14.1

Healthcare

Asiri Hospita l Hold. ASIR.N0000 M 15.90 5,650 1,099.1 17,476 5.14 3.09 600 777 810 0.55 0.71 0.74 215 29 29.1 22.5 21.6 0.5 3.1 10.6

Nawal oka Hospita 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 tal s LHCL.N0000 D 42.00 27,164 223.7 9,397 121.41 0.35 437 384 537 1.95 1.72 2.40 51 (12) 21.5 24.5 17.5 0.5 1.2 1.6

Sample Sector (3) 36,695 2,732.3 30,960 13.43 0.84 1,308 1,616 1,803 0.48 0.59 0.66 (16) 24 23.7 19.2 17.2 3.6

Full Sector (6) 46,235 2.15 18.9

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

15-Nov-13 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 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 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 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 . Ho ld. AHUN.N0000 M 68.40 12,937 3 36.3 23,002 38.47 1.78 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.7 12.9 10.7 12.9 1.0 1.5 10.7

Amaya Lei sure CONN.N0000 M 75.00 2,515 48.0 3,603 52.37 1.43 293 377 376 374 6.09 7 .84 7 .83 7.79 (38) 29 (0) 12.3 9.6 9.6 9.6 4.0 5.3 11.6

As i an H ot el s & Pro p. A HPL .N 000 0 M 68. 00 20, 762 442. 8 30, 109 46. 89 1.45 2 ,149 2 ,494 2 ,386 2, 493 2, 492 4. 85 5. 63 5. 39 5. 63 5. 63 21 16 (4) 4 14.0 12.1 12.6 12.1 12.1 4.0 5.9 10.3

Ke el ls H ote ls KH L.N0000 M 12.00 16,421 1,456.1 17,474 11.28 1.06 1,105 1,121 870 994 1,121 0.76 0.77 0.60 0.68 0.77 1 11 1 (22) 14 15.8 1 5.6 20.1 1 7.6 15.6 0.0 0.0 6.7

Taj TAJ.N0000 M 29.30 2,223 139.6 4,091 15.92 1.84 125 2 46 2 93 224 0.89 1.76 2.10 1.61 26 97 19 32.8 16.6 14.0 18.3 0.0 0.0 5.6

Tra ns As i a TR AN .N0000 M 87.00 5,775 200.0 17,400 28.88 3.01 625 1 ,066 884 927 1 ,066 3 .12 5.33 4.42 4.64 5.33 (5) 71 (17) 5 27.8 16.3 19.7 18.8 16.3 3.0 3.4 10.8

Sample Sector (6) 60,634 2,622.9 95,679 23.12 1.58 5,674 7,086 6,957 6,059 2.16 2.70 2.65 2.31 24 25 (2) 16.9 13.5 13.8 15.8 9.4

Full Sector (36) 313,252 2.47 37.0

Land and Property

Col ombo Land CLND.N0000 D 38.80 2,699 199.9 7,755 13.50 2.87 10 335 -90 12 48 0.05 1.68 (0.45) 0.06 0.24 (98) 3,393 (127) 113 808.6 23.1 N/A 646.3 160.1 0.0 0.0 0.4

Ove rs e as R ea l it y OS EA .N 0000 D 18. 00 22, 697 843. 5 15, 183 26. 91 0.67 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 5.7 6.1 7.9 7.0 5.1 0.3 1.7 11.8

Sample Sector (2) 25,396 1,043.4 2 2,938 24.34 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 8.5 8.2 1 2.5 10.6 7.5 1.1 10.6

Full Sector (18) 37,927 0.80 7.3

Manufacturing

ACL Cables ACL.N0000 M 65.00 5,802 59.9 3,893 96.87 0.67 485 532 513 8.10 8.88 8.56 127 10 8.0 7.3 7.6 1.0 1.5 8.4

Gra in El eva tors GRAN.N0000 D 37.10 2,742 60.0 2,226 45.71 0.81 388 135 87 93 -188 6.46 2.24 1.45 1.55 ( 3 .1 3) ( 18 ) ( 65 ) ( 35 ) 7 5.7 16.5 25.6 23.9 -11.8 0.1 0.4 14.1

Ch e vr on L ub ri c an ts L LU B. N0 00 0 D Hold 265. 50 5, 098 120. 0 31, 860 42. 48 6.25 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 15. 9 13.9 1 2.6 12 .2 13 .1 11. 0 4. 1 3 9.2

La nk a Wa ll ti le LWL.N0000 M LTB 55.00 4,871 54.6 3,003 89.21 0.62 731 520 545 600 474 13.39 9.52 9.98 1 0.99 8.68 51 (29) 5 10 4.1 5.8 5.5 5.0 6.3 3.0 5.5 15.0

Pi ra ma l Gl as s GLAS .N0000 M LTB 4.60 3,716 950.1 4,370 3.91 1.18 686 724 361 532 941 0.72 0.76 0.38 0.56 0.99 19 5 (50) 47 6.4 6.0 12.1 8.2 4.6 0.4 8.3 18.5

Ro ya l Ce ra mi c R CL.N0000 M LTB 88.80 8 ,384 110.8 9 ,838 75.67 1.17 1 ,243 1,670 1,844 2,190 1,411 11.22 15.07 16.64 19.77 12.74 (14) 34 10 19 7.9 5.9 5.3 4.5 7.0 2.0 2.3 14.8

Te xtu re d Je rs ey TJL.N 0000 M Buy 15. 20 6, 190 655. 0 9, 956 9. 45 1.61 628 1 ,017 1 ,186 1, 483 1, 085 0. 96 1. 55 1. 81 2. 26 1. 66 (8) 62 17 25 15.9 9 .8 8.4 6.7 9.2 1.2 8.2 10.1

Tokyo Cement TKYO.N0000 M 26.30 7,793 334.1 8 ,787 23.32 1.13 979 828 1,447 2.93 2.48 4.33 14 (15) 9.0 10.6 6.1 1.0 3.8 12.6

Sample Sector (8) 44,596 2,344.5 73,934 19.02 1.66 7,141 7,713 8,108 3.05 3.29 3.46 15 8 10.4 9.6 9.1 4.4 16.0

Full Sector (36) 104,897 1.34 8.3

Motors

Colonial Motors COLO.N0000 M 84.80 3,562 15.2 1,289 234.33 0.36 453 120 22 29.80 7.91 1.47 95 (73) 2.8 10.7 57.8 3.0 3.5 12.7

D ie se l & Mo to r En gi ne eri ng D IMO.N0000 M 495.00 7,571 8.9 4,394 852.93 0.58 2,702 462 462 304.36 52.06 52.05 27 (83) 1.6 9.5 9.5 10.0 2.0 35.7

Un ited Moto rs UML.N0000 M 110.80 7,747 67.3 7,453 115.18 0.96 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.3 3.7 3.7 10.0 9.0 29.4

Sample Sector (3) 18,880 91.3 13,136 206.70 0.70 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.4 5.1 5.3 6.1 28.8Full Sector (6) 21,065 0.93 9.0

Oil Palms

Bu ki t Da ra h BUKI .N0000 M 675.00 32,716 102.0 68,850 320.74 2.10 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.4 13.7 15.6 3.0 0.4 22.3

Sample Sector (1) 32,716 102.0 68,850 320.74 2.10 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.4 13.7 15.6 3.0 0.4 22.3

Full Sector (5) 103,049 1.82 19.0

Plantations

Balangoda BALA.N0000 D 30.10 2,660 23.6 711 112.53 0.27 25 118 62 1.08 5.01 2.64 (85) 366 28.0 6.0 11.4 1.0 1.0

Horana HOPL.N0000 M 22.60 1,391 25.0 565 55.63 0.41 87 220 201 3.49 8.82 8.04 (73) 152 6.5 2.6 2.8 2.0 6.3

Kegal le KGAL.N0000 M 94.00 3,439 25.0 2,350 137.54 0.68 769 544 542 30.77 21.74 21.70 ( 8) ( 29) 3.1 4.3 4.3 12.0 12.8 22.4

Kelani Val ley KVAL.N0000 D 73.60 2,524 34.0 2,502 74.24 0.99 460 584 650 13.54 17.19 19.12 44 27 5.4 4.3 3.8 6.0 8.2 18.2

Kotagala KOTA.N0000 M 37.00 3,535 40.0 1,480 88.38 0.42 439 517 378 10.97 12.92 9.44 (34) 18 3.4 2.9 3.9 2.5 6.8 12.4

Watawala WATA.N0000 M 10.00 3,855 236.7 2,367 16.29 0.61 455 680 755 1.92 2.87 3.19 (29) 49 5.2 3.5 3.1 0.8 11.8

Sample Sector (6) 17,403 384.3 9,976 45.29 0.57 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.5 3.7 3.9 12.8

Full Sector (19) 23,130 0.63 5.3

Power and Energy

Lanka IOC LIOC.N0000 M 28.90 14,378 532.5 15,390 27.00 1.07 906 2,911 4,069 1.70 5.47 7.64 3 221 17.0 5.3 3.8 1.0 6.3

Val l ibel VPEL.N0000 M 5.90 2,068 747.1 4,408 2.77 2.13 249 289 482 0.33 0.39 0.65 (41) 16 17.7 15.2 9.1 0.3 4.2 12.0

Laugfs Gas LGL.N0000 M 29.80 6,178 387.0 11,533 15.96 1.87 822 1,061 1,291 2.13 2.74 3.34 (4) 29 14.0 10.9 8.9 1.5 5.0 13.3

Sample Sector (3) 22,624 1,666.6 31,331 13.57 1.38 1,977 4,261 5,843 1.19 2.56 3.51 (8) 116 15.8 7.4 5.4 8.7

Full Sector (8) 36,815 1.26 5.7

Telecommunications

Di al og Axi ata DIAL.N0000 D 9.10 37,086 8,143.8 74,108 4.55 2.00 5,354 6,521 8,156 0.66 0 .80 0 .00 1.00 6 22 (100) 13.8 11.4 9.1 0 .3 3.6 14.4

Sri La nka Tel eco m SLTL.N0000 D 37.50 55,315 1,804.9 6 7,682 30.65 1.22 4,781 5,329 4,976 2.65 2.95 0.00 2.76 21 11 (100) 14.2 12.7 13.6 0.9 2.3 8.6

Sample Sector (2) 92,401 9,948.6 141,791 9.29 1.53 10,135 11,850 13,132 1.02 1.19 0.00 1.32 13 17 (100) 14.0 12.0 10.8 11.0

Full Sector (2) 141,791 1.53 10.7

Trading

Browns BRWN.N0000 M 90.00 15,058 70.9 6,379 212.47 0.42 1,164 240 240 16.43 3.39 3.39 (47) (79) 5.5 26.6 26.6 1.3 1.5 7.7

S in ge r S ri La nk a S IN S. N0000 D 89. 20 4, 812 125. 2 1 1, 169 38. 43 2.32 1,266 1,138 985 10.11 9.09 7.87 90 (10) 8.8 9.8 11.3 6.0 6.7 26.3

Sample Sector (2) 19,870 196.1 17,547 101.33 0.88 2,431 1,378 1,225 12.40 7.03 6.25 (15) (43) 7.2 12.7 14.3 12.2

Full Sector (8) 22,366 0.94 11.4

Sample Market (70) 1,046,050 38,084.3 1,789,725 27.47 1.71 138,331 150,117 166,629 188,291 167,769 3.63 3.94 4.38 4.94 4.41 17 9 11 13 12.9 1 1.9 10.7 9.5 10.7 13.2

Total Market (284) 2,437,312 1.68 12.5

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

Thanuja De Silva

[email protected]

+94 11 7277059, +94 77 3120018

Eardley Kern

[email protected]

+94 11 7277053, +94 77 7348018

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

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 in formation and opin ions contained herein has been compiled

or ar ri ved at based upon inf ormati on obtained fr om sources believed to be reliable and in good faith . Such infor mation has not been

independently verif ied and no guaranty, representation or warr anty, express or impli ed is made as to its accuracy, completeness or

correctness. Al l such i nformation and opinions are subject to change without notice. This document i s for information purposes only,

descri ptions of any company or companies or their securi ties mentioned herein ar e not intended to be complete and this document is

not, and should not be construed as, an offer, or solicitat ion of an off er, to buy or sell any securit ies or other fi nancial instr uments.

Softlogi c Stockbrokers (Pvt) L td may, to the extent permi ssible by applicable law or regulati on, use the above materi al, conclu sions,

research or analysis in wh ich they are based before the materiali zed disseminated to their cu stomers. Not all customers wil l r eceive

the materi al at the same time. Softlogic Stockbrokers, their respective dir ectors, offi cers, representati ves, employees, related persons

and/or Softl ogic Stockbrokers, may have a long or short position i n any of the securiti es or other fi nancial i nstruments mentioned or

issuers described herein at any 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 46 (15.11.2013)