reports
- Naveed Majeed
Sri Lanka: Equity Strategy - Deep Value Unveiled As Hyperinflation Sub...
* As hyperinflationary dynamics begin to subside, the residual effect has unveiled a large dislocation in valuations of listed domestic players. * Steep price increases taken by domestic firms have been more than enough to offset a decline in volumes over 2022, resulting in strong revenue and earnings growth to new highs, despite a deteriorating macro picture. With the expansion in bottom line to new highs, it is our view that valuations need to adjust accordingly with the risk premium ...
JKH.N0000 JOHN KEELLS HOLDINGS PLC
ACL.N0000 ACL CABLES
CARG.N0000 CARGILLS (CEYLON) PLC
CCS.N0000 CEYLON COLD STORES
CTC.N0000 CEYLON TOBACCO
DIST.N0000 DISTILLERIES CO. OF SRI LANKA PLC
LLUB.N0000 CHEVRON LUBRICANTS LANKA PLC
HHL.N0000 HEMAS HOLDINGS
LION.N0000 LION BREWERY
NEST.N0000 NESTLE LANKA
GLAS.N0000 PIRAMAL GLASS CEYLON PLC
- Isuri Munasinghe
- Kavinda Perera
- Lakshini Fernando
- Naveed Majeed
Sri Lanka: 2021 Equity Strategy - Zero In On The Recovery
* Colombo All Share Price Index ( recovered all losses since bottoming out in May 56 7 since May, +8.6% YTD) A Manufacturing drive led the gains opportunities remain in large caps that are yet to pickup * Negative interest rates is the key catalyst equities will remain the preferred asset class in 2021 amidst a low interest rate environment * We forecast ASPI to reach 7 400 7 600 in 2021 with local investors continuing to carry the mantle * Global investors would look to rebal...
SAMP.N0000 SAMPATH BANK
HNB.N0000 HATTON NATIONAL BANK PLC
COMB.N0000 COMMERCIAL BANK OF CEYLON
AAIC.N0000 SOFTLOGIC LIFE INSURANCE PLC
JKH.N0000 JOHN KEELLS HOLDINGS PLC
AEL.N0000 ACCESS ENGINEERING
CCS.N0000 CEYLON COLD STORES
HHL.N0000 HEMAS HOLDINGS
RCL.N0000 ROYAL CERAMICS LANKA
- Naveed Majeed
Toyko Cement Company Lanka: Concrete earnings ahead
We up our TP to LKR 88.00 (TKYO.N) and LKR 74.00 (TKYO.X); maintain BUY We value TKYO at 8.0x P/E FY21E (8.4x P/E previously) leading to a TP of LKR 88.00 (+33.3% to old; +58.8% upside; 63.4% TSR) for the TKYO.N and LKR 74.00 (+37.0% to old; +62.6% upside; 68.1% TSR) for TKYO.X on upgraded earnings estimates. Strong end to September sets the stage for historic best quarter result Our channel checks indicate a strong finish to the month of September, with local manufacturers operating at full ...
- Naveed Majeed
Toyko Cement Company Lanka: Consolidating market share; GPM up on clin...
We value TKYO at 8.4x P/E FY21E which, leads to a TP of LKR 66.00 (+37.5% to old; +24.8% upside; 28.5% TSR) for the TKYO.N and LKR 54.00 (+35.0% to old; +27.1% upside; 31.8% TSR) for TKYO.X on our revised estimates. BUY. Our channel checks indicate a pickup in volumes at TKYO after consolidating market share from local bag importers. Amidst the import bans, both players tied into agreements with local distributors, increasing the hold on distribution leading to stronger market share gains. Th...
- Pasindu Perera
Tokyo Cement Company Lanka PLC - Initiation 2018
We have valued TKYO using the Discounted Cash Flow Method, as the primary valuation method, and arrived at a price target of LKR 76.10 over the short term as such our recommendation to HOLD the counter. Investment Synopsis - Long term potential to outweigh near term headwinds Capacity Expansion – Grinding Facility in Trincomalee Fleet of Vessels to create cost savings New Product Development with high profit margin (TOKYO READY MIX CONCRETE) Greater cost savings from Energy Sensitive...
A director sold 5,346,000 shares at 72.000LKR and
A director at Tokyo Cement(Lanka)Plc sold 5,346,000 shares at 72.000LKR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last tw...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
- Janaghan Jeyakumar
JKSB Quarterly Highlights_Tokyo Cement Company PLC (TKYO)_2QFY17
Note:Strong earnings growth driven by healthy revenue growth & expansion of marginsTKYO reported a healthy revenue growth of 24% YoY for the quarter with the support of a 7% YoY increase in retail selling prices of bagged cement (Rs.870 to Rs.930 per 50kg bag) and a growth in volumes stemming from improved capacity utilisation (vs. 2Q FY16). Consequently, TKYO was also able to expand its GP margin from 21.1% to 24.4% and achieve a strong increase of 43% YoY in gross profits during the quarter. W...
- Janaghan Jeyakumar
JKSB Corporate Update_Tokyo Cement Company PLC (TKYO)_August 2016
Investment ConsiderationsStrong Outlook: Cement market to grow with the recovery of the construction sectorThe Sri Lankan per capita cement consumption is estimated to be ~300kg which is significantly below the estimated world average of ~550 kg and we believe that the Sri Lankan cement market will experience strong growth over the next 5 years. Despite the healthy growth seen in the construction sector in 2014, the construction sector growth rate reduced in 2015 as a result of the delays seen i...
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