reports
Aisha Steel Mills Limited: 1 director
A director at Aisha Steel Mills Limited sold 24,200,000 shares at 8.990PKR and the significance rating of the trade was 76/100. 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 two ...
- YH Securities
- Sharoon Ahmad
Pakistan Steel Sector - Flat Steels: Earnings Expected to Take a Hit o...
Flat Steel Earnings are expected to be reminiscent of 1QFY19’s earnings decline (Gross Profit/EBITDA/NI: -16%/-14%/-27%YoY) at least in near term where we expect FY19F earnings to fall by 12%YoY owing to pricing pressures, offtake slump, rising interest rates and higher depreciation (attributable to recent/upcoming expansions). Local manufacturers have desisted curtailing prices in spite of international slide in flat steel prices as to offset impact of PKR depreciation. This has led to incr...
- Sharoon Ahmad
Pakistan Steel Sector - Falling Steel Prices Brings Mixed Fortunes
International spreads for CRC-HRC and GC-HRC have improved 43%/52% during FYTD to USD50/USD160 per ton; realized spreads have followed a similar trend. On the other hand, spreads for Rebars-Scrap and Rebars-Billets have declined by 34%/25% during FYTD to USD179/USD93 per ton. On realized basis, spreads of Rebars-Scrap have shown resilience falling by a meagre 6% to USD387/ton while spreads of Rebars-Billets turned positive standing at USD22/ton compared with negative USD52/ton at the end of J...
- Sharoon Ahmad
Flash Note: Aisha Steel Mills Limited - FY18 Earnings up 26%YoY
Aisha Steel (ASL) announced its FY18 result, where it posted PAT of PKR1.28bn (EPS: PKR1.68 on adjusted number of shares), up 26%YoY from PKR1.02bn (EPS: PKR1.33) in FY17. The earnings came in line with our expectation of PKR1.62/share. The growth in full year earnings was led by 1) growth in topline attributable to higher expected dispatches besides improvement in retention price, and 2) growth in gross profit led by improvement in topline and GM. However, 4QFY18 earnings fell by 42%QoQ to ...
- Sharoon Ahmad
Result Previews - ASTL, ASL & ISL
We expect ASTL to report earnings of PKR1.6bn (EPS: PKR5.40) in FY18, up 49%YoY. The company’s 4QFY18 earnings are expected to grow by 138%YoY/28%QoQ to PKR607mn (EPS: PKR2.04) led by strong pickup in dispatches (70%YoY/30%QOQ growth to 65ktons) with new re-rolling plant starting operations from Apr-18. ASL is scheduled to announce its FY18 result on 31st July, 2018 where we expect it to post earnings of PKR1.2bn (EPS: PKR1.62), up 21%YoY. However, 4QFY18 earnings are expected to fall by 57%Q...
Aisha Steel Mills Limited : Expansion to provide multi-pronged growth!
We initiate coverage on Aisha Steel Mills Limited (ASL), a flat steel producer, with a ‘Buy’ rating and a DCF-based TP of PKR27.05/sh (32% total return). ASL commands 36% market share in Pakistan’s flat steel industry which operates under a duopoly. ASL’s two-pronged expansion target include; (i) Pakistan’s growing consumer theme and infrastructure investment, and (ii) product enhancement via entry into high-margin segment. Combination of volume growth and margin accretion will likely deliver AS...
- Sharoon Ahmad
Pakistan Flat Steel Sector - Booming on Spending Revolution (Detailed ...
We initiate coverage on Pakistan Flat Steels with an Overweight stance. Flat steel manufacturers are expected to do particularly well with expansions planned to cater booming domestic demand arising from robust growth outlook for downstream sectors including autos, electronics and construction. Anti-dumping duties levied on Chinese flat steel imports have turned the tables in favor of domestic manufacturers, providing a sigh of relief against the threat of cheaper dumped imports. We expect F...
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...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.