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th

th February 2013
715
October 2011

Volume
Volume 0738

Sri Lanka Focus

15th February 2013

ASIA RESEARCH TEAM 1

Focus
Colombo Stock Exchange

Weekly Review by Asia Wealth Management Research

IN THIS ISSUE;

ASI Daily Closing

(ASI)

Investors cautious amidst mixed earnings


The week concluded on a mixed note with the All
Share Price Index declining 20.41 points..........
Pg 02

(LKR mn)

5880

4000

Focu
Focu

Colombo Stock Exch


3500

5860

3000

Volume 38

5840

Colombo Bourse Billion Ruppee Club

7 October 2011

2000

Table below shows the members who have


qualified to be a part of Asia Wealth Researchs Billion Rupee
Club.
Pg 03

5800

th

500
0

28- 29- 30- 31- 15678- 11- 12- 13- 14- 15Jan Jan Jan Jan Feb Feb Feb Feb Feb Feb Feb Feb Feb Feb

Pg 04

Commodity Prices

Turnover ( RHS)

ASI closing ( LHS)

Market Statistics

Pg 05

All Share Index


S&P SL20 Index
Banking & Finance
Food & Beverage
Diversified
Hotels & Travels
Telecommunication
Manufacturing
Market Capitalisation (LKR bn)
(USD bn)
Turnover (LKR mn)
(USD mn)
Average Daily Turnover (LKR mn)
Volume (mn shares)
Foreign Purchases (LKR mn)
Foreign Sales(LKR mn)

Monetary Sector Developments likely to assist


Equity Trade

15-Feb
5,830.26
3,274.25
13,013.25
16,525.16
1,890.38
3,486.65
173.30
2,669.76
2,239.80
17.69
3,074.10
24.27
614.80
154.90
1,092.44
945.02

08-Feb
5,850.67
3,271.25
13,068.99
16,608.96
1,892.00
3,508.19
172.39
2,715.68
2,247.59
17.59
5,103.50
39.94
1,275.90
186.80
3,033.26
3,267.31

% Chg.
-0.3
0.1
-0.4
-0.5
-0.1
-0.6
0.5
-1.7
-0.3
0.6
-39.8
-39.2
-51.8
-17.1
-64.0
-71.1

W eekly R eview by Asia Wealth Manag

Secondary market yields on government


securities picked up as expected during the.......
Pg 07

7th October 2011

1000

5760
5740

Weekly overview of commodity trading

Volume 38

1500

5780

Analysis of Various Warrants Listed on CSE

Colombo Stock Exch

Major Price Movements

Company

2500

5820

Large Trades

Price

+/-LKR

Hikkaduwa Beach Resort

17.1

-3.9

-18.6

Company
Browns Investments

Singalanka Standard Chemicals

78.0

-16.7

-17.6

Textured Jersey Lanka

1,280.0

-270.0

-17.4

Dialog Axiata

11,866,625

-16.0

Free Lanka Capital Holdings

11,502,993

Ceylon Printers

Abans Financial Services


Bairaha Farms

Peoples Leasing Company


Kuruwita Textiles
Horana Plantations
Commercial Leasing & Finance

Coco Lanka (NV)

31.0

-5.9

+/- %

5,349,620

Swarnamahal Finance

4,009,842

8.9

Richard Pieris

3,907,987

Hnb

3,612,233

-22.0

-15.0

14.0

1.0

7.7

1.8

Weekly Review by Asia Wealth


Manag
20,402,169

Union Bank

125.0
22.0

Volume
38,286,721

Colombo Stoc

27.4

2.3

9.2

4.2

0.4

10.5

Commercial Leasing & Finance

3,572,919

25.0

E-Channeling

2,293,637

20.0

4.0

Sri Lanka Focus

15th February 2013

ASIA RESEARCH TEAM 2

Features
Investors cautious amidst mixed earnings
The week concluded on a mixed note with the All Share Price Index declining 20.41 points to close at 5,830.26 points (0.3% WoW) while the S&P SL20 index rose marginally by 3 points to close at 3,274.25 points (0.1% WoW). The ASI
declined mainly on the back of the losses made by Lanka ORIX Leasing Company (-8.1% WoW), Ceylon Tobacco (-1.3%
WoW), Commercial Bank of Ceylon (-1.9% WoW), Sri Lanka Telecom (-2.1% WoW) and Ceylinco Insurance (-4.7% WoW).
A comparatively slower week of trading was witnessed at the Colombo Bourse as indicated by the comparatively lower
average daily volumes and turnover recorded during the week. This could be partly as a response to institutional investors
adopting a wait-and-see approach as firms released their quarterly earnings performance prior to the deadline on
Friday for the release of quarterly results. However activities on Friday also continued to be relatively muted as both small
and large cap firms recorded mixed earnings performance. Nevertheless, banking & finance counters continued to garner
institutional interest with crossings being witnessed on Hatton National Bank, Union Bank, Central Finance & Sampath
Bank. Retail activity for the week was also limited as investors stayed on the sideline reassessing their expectations of the
markets performance in light of the earnings performance of firms. The bourse recorded an average daily turnover of
LKR 614.8mn for the week whilst the average weekly traded volume stood at 40mn.
Furthermore, Browns Investments, Textured Jersey Lanka, Dialog Axiata, Free Lanka Capital Holdings and Union Bank
topped the list in terms of volume traded during the week.
The week saw foreign purchases amounting to LKR 1,092.2 mn whilst foreign sales amounted to LKR 945 mn. Market
capitalisation stood at LKR 2,239.8 bn, and the YTD performance is 3.3%.

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 3

Colombo Bourses Billion Rupee Club


Table below shows the members who have qualified to be a part of Asia Wealth Researchs Billion Rupee Club. The
eligibility criteria lie with their earnings reaching LKR1 bn mark. The list will be refreshed on a quarterly basis
identifying the new qualifying members whilst eliminating the disqualifying.

BVPS

Net Profit

JOHN KEELLS HOLDINGS

Company

852.52

14.56%

87.82

10,900.49

12.79

18.0

2.6

196,079.61

COMMERCIAL BANK [V]

780.13

18.78%

61.40

9,611.80

11.53

9.5

12.7

85,190.72

53.47

18.78%

61.40

9,611.80

11.53

8.0

1.5

4,919.58

CEYLON TOBACCO

187.32

179.64%

24.20

8,145.00

43.48

19.0

34.2

155,104.07

HNB [V]

317.79

16.25%

111.06

7,171.46

18.04

8.2

1.3

46,810.83

79.66

16.25%

111.06

7,171.46

18.04

6.4

1.0

9,208.47

8,143.78

19.03%

4.45

6,900.50

0.85

11.2

2.1

77,365.89

DISTILLERIES

300.00

15.46%

133.86

6,209.77

20.70

8.9

1.4

55,500.00

SAMPATH BANK

162.74

19.83%

148.23

4,784.49

29.40

8.2

1.6

39,382.27

1,804.86

7.55%

30.45

4,148.00

2.30

18.7

1.4

77,608.98

AITKEN SPENCE

406.00

15.23%

63.82

3,947.22

9.72

12.9

2.0

50,749.51

LOLC

475.20

19.06%

43.37

3,928.29

8.27

7.5

1.4

29,462.40

1,560.00

18.31%

12.26

3,502.00

2.24

6.2

1.1

21,840.00

DFCC BANK

265.10

12.27%

98.48

3,203.82

12.09

10.4

1.3

33,402.31

NDB

164.20

16.44%

112.61

3,039.55

18.51

8.2

1.3

24,958.69

CENTRAL FINANCE

104.88

20.15%

140.53

2,970.20

28.32

6.5

1.3

19,403.42

BUKIT DARAH

102.00

10.00%

285.72

2,913.11

28.56

25.6

2.6

74,460.00

OVERSEAS REALTY

843.48

13.50%

23.48

2,674.92

3.17

4.4

0.6

11,893.13

NESTLE LANKA

53.73

93.78%

52.59

2,649.72

49.32

32.9

30.9

87,303.88

UNITED MOTORS

67.27

39.71%

97.37

2,600.77

38.66

2.5

1.0

6,578.72

ASIAN HOTEL & PROPERTIES

442.78

16.86%

33.03

2,464.92

5.57

12.9

2.2

31,879.82

CARSON CUMBERBATCH

196.39

7.46%

164.94

2,418.12

12.31

37.2

2.8

89,945.21

95.04

32.18%

77.17

2,359.74

24.83

5.6

1.8

13,115.52

SEYLAN BANK [V]

173.33

11.84%

56.91

2,278.10

6.74

8.9

1.1

10,382.67

SEYLAN BANK [NV]

164.75

11.84%

56.91

2,278.10

6.74

5.1

0.6

5,683.76

CHEVRON LUBRICANTS

120.00

54.83%

34.62

2,277.70

18.98

11.5

6.3

26,100.00

COLOMBO DOCKYARD

71.86

21.91%

140.53

2,212.59

30.79

7.4

1.6

16,311.98

CEYLON TEA SERVICES

20.00

29.44%

372.76

2,194.96

109.75

5.9

1.7

13,000.00

1,939.24

30.85%

3.52

2,107.10

1.09

6.8

2.1

14,350.36

532.53

17.74%

21.58

2,039.19

3.83

5.5

1.0

11,183.13

VALLIBEL ONE LIMITED

1,086.56

6.07%

28.07

1,850.83

1.70

10.0

0.6

18,471.51

NATIONS TRUST BANK

230.61

19.02%

41.57

1,823.67

7.91

7.6

1.4

13,836.44

69.26

39.52%

65.30

1,787.02

25.80

5.6

2.2

9,973.03

110.79

22.71%

69.64

1,752.25

15.82

6.3

1.4

11,078.94

COMMERCIAL BANK [NV]

HNB [NV]
DIALOG TELEKOM

SRI LANKA TELECOM

PEOPLES LEASING

CEYLON COLD STORES

RICHARD PIERIS
LANKA IOC

LB FINANCE
ROYAL CERAMICS

Shares

Trailing ROE

Trailing EPS

Trailing PE

PBV

Mkt Cap Mn

8.88

20.94%

863.75

1,605.52

180.87

3.3

0.7

5,282.37

AIT. SPENCE HOTEL HOLD.

336.29

14.14%

33.73

1,604.23

4.77

16.0

2.3

25,658.93

HEMAS HOLDINGS

515.29

13.20%

21.24

1,444.73

2.80

9.9

1.3

14,325.08

20.00

12.62%

425.89

1,419.35

70.97

13.4

2.2

19,060.00

6.41

12.62%

425.89

1,419.35

221.27

1.4

0.8

2,052.63

PCH HOLDINGS LIMITED

252.00

88.39%

6.26

1,395.17

5.54

1.3

1.1

1,764.00

SINGER SRI LANKA

125.21

26.38%

38.56

1,273.69

10.17

9.8

2.6

12,533.48
25,600.00

DIMO

CEYLINCO INSURANCE [V]


CEYLINCO INSURANCE [NV]

80.00

22.90%

68.66

1,257.97

15.72

20.4

4.7

LANKA ORIX FINANCE

2,800.00

22.09%

1.89

1,171.41

0.42

8.4

1.8

9,800.00

JOHN KEELLS HOTELS

1,456.15

8.42%

9.31

1,140.90

0.78

17.5

1.5

19,949.21

LION BREWERY

75.00

5.65%

250.97

1,063.14

14.18

21.7

1.2

23,100.00

1,954.92

12.14%

4.48

1,062.91

0.54

13.1

1.6

13,879.90

CEYLON THEATRES

183.10

8.41%

68.89

1,060.36

5.79

24.2

2.0

25,633.62

COLOMBO FORT LAND

180.00

18.20%

32.11

1,051.63

5.84

5.3

1.0

5,598.00

10.64

39.30%

249.16

1,041.82

97.92

1.4

0.6

1,494.92

HAYLEYS
EXPOLANKA HOLDINGS

COLONIAL MOTORS

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 4

Features
Analysis of Various Warrants Listed on the CSE
The below table depicts a comparison of the warrants trading price with its intrinsic value (derived through the Black
Scholes Call option valuation method). The 6th column to the right depicts the difference between the intrinsic value
and the traded price. Hence, the positive figures would explain the potential for the respective warrant to further
appreciate. Thus, the negative value would denote that the warrant is overvalued at the current price (assuming the
underlying stock price to be constant). However, it is noted that the intrinsic value is derived based on the current
value of the underlying stock price, its volatility, period to maturity and the risk free rate. Hence, any adverse
movement of the mentioned assumptions would have an adverse impact on the warrant value, and any favourable
movement would positively impact the warrant value (E.g.: if in case the asset price appreciates from the existing, it
would invariably increase the value of the warrant.

Warrants Valuation
Exercise
price
CLPL-W-0013
CLPL-W-0014
GREG-W-0003
GREG-W-0006
CSF-W-0021
REEF-W-0019

118.00
142.00
36.00
39.00
12.00
40.00

Price According to Black


Share Price
Warrant Price
Undervalued/
Expiry Date
Scholes model (Intrinsic
(2013/02/15)
(2013/02/15)
(Overvalued)
value)
72.60 25-Aug-14
5.10
0.00
(5.10)
72.60 25-Aug-15
5.30
0.00
(5.30)
17.40 24-Feb-14
2.70
0.00
(2.70)
17.40 24-Feb-15
3.50
0.00
(3.50)
9.80
31-Jul-13
1.80
0.00
(1.80)
23.00 15-Jun-15
3.50
0.00
(3.50)

Sri Lanka Focus

15th February 2013

ASIA RESEARCH TEAM 5

Commodity Prices
Date as at

24.01.13

01.02.13

08.02.13

15.02.13

112.8

115.6

117.2

117.9

0.6%

Gold (USD/Ounce)

1,682.2

1,660.6

1,673.2

1,635.5

-2.3%

Copper LME (USD/Ton)

8,115.5

8,169.0

8,243.3

8,215.0

-0.3%

24.01.13

31.01.13

06.02.13

13.02.13

431.77

436.98

417.86

428.75

24.01.13

31.01.13

06.02.13

14.02.13

N/A

380.0

388.5

385.0

-0.9%

24.01.13

01.02.13

08.02.13

15.02.13

USD

127.05

126.35

126.32

126.62

WoW %
change
0.2%

EURO

169.06

171.61

169.32

169.07

-0.2%

STG (GBP)

201.20

199.93

198.56

196.50

-1.0%

1.44

1.38

1.35

1.37

1.5%

20.43

20.26

20.24

20.32

0.4%

Brent Crude Oil (USD/Barrel)

WoW %
change

METALS

AGRI
Date as at
Tea LKR/Kg

Date as at
Rubber (RSS 1) LKR /Kg
Exchange Rates (LKR)

YEN
YUAN (CNY)

WoW %
change
2.6%

WoW %
change

Source: Bloomberg, AFP, Reuters, Eurostat

OIL

Brent crude oil prices picked up slightly during the week mainly on the back of improved employment situation of the
worlds largest economy. U.S claims for unemployment insurance fell to 341,000 from 368,000 a week earlier. The
price of Brent crude edged up 0.6% WoW to USD 117.9/barrel on the back of these developments.
Gold

Gold prices dropped responding to the signs of slow recovery of the U.S economy indicated by improving jobless
claims. However, the negativity encompassing EU and Japanese economies prevented gold prices from falling further.
On account of these changes, price of gold dropped 2.3% WoW to USD 1,635.5/ounce at the New York Mercantile
Exchange.

Sri Lanka Focus

15th February 2013

ASIA RESEARCH TEAM 6

Commodity Prices
Copper

Copper prices fell marginally over the week on the back of lower than expected growth in U.S retail sales coupled
with the waning economic prospects of EU and Japan. However, downward pressure on prices was held back by the
strong demand coming from the top consumer China. LME Copper futures for April delivery fell 0.3% WoW in line
with these developments.
USD

The Greenback gained against other major currencies on the back of improved figures on U.S jobless claims during
the week. The weak economic outlook of Euro Zone coupled with the not so successful attempts by the Japanese
authorities to revive the ailing economic situation further assisted the strengthening of the USD.

Source: Bloomberg, AFP, Reuters, Eurostat

Sri Lanka Focus

15th February 2013

ASIA RESEARCH TEAM 7

Conclusion
Monetary Sector Developments likely to assist Equity Trade
Secondary market yields on government securities picked up as expected during the week while the primary bill
issue saw yields continuing to decline amidst the high liquidity level in the financial system. Its our belief that the
sudden rise in liquidity levels during the past four weeks is primarily triggered by divestments in the secondary
market for government securities probably by banks to finance private sector borrowing now that the ceiling on
private sector credit growth is removed. The increase in liquidity levels was further assisted by profit taking by
foreign investors in the secondary market which caused the yields to increase.
Capital accrued to these divestments from the secondary market finds its way into the domestic financial system,
increasing its liquidity level. This in our view is the primary source of current excess liquidity levels. It should be
also brought to notice that despite this sudden increase in liquidity the LKR held its ground against internationally
traded currencies during the period in concern. It indicates that selling pressure in the secondary market for
government securities has not resulted in a consequent out flow of capital and further, that foreign investors are
holding onto the domestic currency despite profit taking activity in the secondary market. These developments in
countrys financial sphere also suggest that market forces are expecting monetary authorities to cut rates further at
future primary auctions. In its turn these developments could yield positive spillover effects on countrys equity
trade by improving relative valuation of domestic financial assets.
On the other hand, despite a large volume of liquidity was mopped by monetary authorities through the repo
window during the past four weeks, the stock of government securities held at the hands of the Central Bank
continued to rise marginally during the period in concern. For instance, approximately LKR 810 billion was absorbed
by monetary authorities through open market operations during the past four weeks while CBSL holdings of
government securities continued to rise during the course of the period by nearly LKR 40 billion. When monetary
authority absorbs market liquidity the stock of government securities held by CB should fall correspondingly. The
fact that its reverse has occurred suggests that the volume of liquidity that was absorbed from financial markets
was transferred into financing fiscal measures through CBs open market operations. This higher level of
government borrowings from monetary authorities reflects that government finance is challenged by current state
of economic affairs.
Its notable in this connection that profits of Sri Lankas leading conglomerates have reaped mixed results during
the December quarter against the prevailing tight external and domestic economic environment. This in turn may
affect the government revenue streams, which is reflected by state revenue as a share of GDP in 2012 falling to
11% from levels above 14% recorded previous year. This would mean that fiscal authorities are likely to resort to
higher taxes, tariffs as well as increased borrowings from domestic as well as external sources to offset the effects
of moderate flow of tax revenue and to maintain the level of expenditure in real terms.

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 8

Focus on Investment
Key Buys

TKYO, being the joint market leader in the cement industry, has its grinding
facility located in Trincomalee, ideally located for the rebuilding boom. TKYO, a
direct beneficiary of construction sector upturn, is in a strong position to take
advantage of increasing demand in current excess capacity. TKYO completed a
10 MW bio mass power plant which provides them significant cost advantage
together with additional boost to top line.

50
45
40
35
30
25
20
15
10
5
0

LKR

Manufacturing
X LKR 18.50

TKYO

2/16/2012

30

4/2/2012

5/21/2012

7/ 4/ 2012

8/16/2012

9/28/2012

11/12/2012

12/ 28/ 2012

2/14/2013

LKR

Tokyo Cement
N LKR 25.00

Charts Sourced from Asia Wealth Research

25
20
15

10
5

TKYOX

0
2/16/2012

Largest specialized leasing company in Sri Lanka, a subsidiary of Peoples Bankthe 2nd largest commercial bank of the country, a holding of 75%.Principal
business activity of the PLC is the provision of finance leasing, operating leasing,
HP facilities etc... The declining interest rates in the economy and rising demand
for credit is to provide many opportunities for these business models. During
2012 most of the finance companies enjoyed much demand for loans, due to
credit ceiling imposed on LCBs. However the ceiling was lifted from the
beginning of 2013, yet we believe the declining interest rates would create more
avenues for RFCs. PLC achieving the finance company licenses, have opened
opportunities to collect public deposits and minimise cost of funds, where the
company was earlier depending on more borrowings. Going by these, we
believe PLC is a medium to long term healthy investment to consider.

Sampath Bank
N LKR 242.00

Banking& Finance

7/4/2012

8/16/2012

9/28/2012

11/12/2012

12/28/2012

2/14/2013

16
14
12
10
8
6
4
2
0

LKR

Banking & Finance

5/21/2012

2/16/2012

4/2/2012

5/21/2012

7/4/2012

8/16/2012

9/28/2012

11/12/2012

12/28/2012

PLC

300

LKR

Peopless Leasing Company


N LKR 14.00

4/2/2012

250

John Keells Holdings


N LKR 230.00

Diversified

200
150

100
50
SAMP
0
2/16/2012

250

4/2/2012

5/21/2012

7/4/2012

8/16/2012

9/28/2012 11/12/2012 12/28/2012 2/14/2013

LKR

Bank will continue its aggressive expansion to ensure its spread of service
through the island. As the pioneer in blending IT with banking, the company will
revamp its existing products and innovate new customer focus products. And
the company is well poised to take advantage in the prevailing economic boom
in the country. The interest rates in the economy are showing a declining trend
consequent to the cut down in policy rates from 2013. The credit ceiling that
existed during 2012 has limited the growth of LCBs, including Sampath bank.
However, the removal of the ceiling from 2013, and the diminishing interest
rates coupled with SAMPs strong capital adequacies, would enable the bank
enter another growth phase in its performance. Therefore considering these
factors we rate SAMP as a mid to longer term investment.

200
150

The sustained performance of the group during 9MFY13 inspite of its high
exposure to macro economic shocks is a testament to the firms commitment
towards value creation whilst maintaining a healthy balance sheet.Going
forward, with the growth in GDP, per capita income and the increase in tourist
arrivals we anticipate the consumer retail and the leisure sector to perform
admirably.

100
50

JKH
0
2/16/2012

4/2/2012

5/21/2012

7/4/2012

8/16/2012

9/28/2012 11/12/2012 12/28/2012 2/14/2013

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 9

Focus on Investment
CIC Holdings
N LKR 62.60

Chemicals & Pharmaceuticals


X LKR 49.90

LKR

120

100
80
60

40
20
CIC
0
2/16/2012

80

4/2/2012

5/21/2012

7/4/2012

8/16/2012

9/28/2012

11/12/2012

12/28/2012

11/12/2012

12/28/2012

2/14/2013

LKR

CIC is considered as the only seed to shelf agricultural company in Sri


Lanka.The Company also has foot prints in consumer and pharmecuitical
industries, Paints, Industrial raw material and Packaging. Acquisition of dairy
farms in north & east region coupled with CICs plans to expand overseas will
strengthens companys earnings in the medium to long term.

70
60

50
40

30
20

10

CICX

0
2/16/2012

5/21/2012

7/4/2012

8/16/2012

9/28/2012

2/14/2013

140

Banking & Finance


X LKR 92.00

120

LKR

Commercial Bank
N LKR 109.20

4/2/2012

100
80
60
40

20

COMB

0
2/16/2012

HNB is the second largest private commercial bank with a total asset base of
LKR388.6 bn as at end 2011, and number one private bank in terms of branches
with a strong network of over 240. Bank is well positioned with its capital
consequent to fresh capital raised through a rights issue amounting to LKR 6 bn.
HNB which has a relatively larger retail deposit base is projected to enjoy higher
interest spreads and would also benefit from the growth in SME lending. With,
the declining interest rates in the economy consequent to the cut policy rates
and lifting the credit ceiling that prevailed during 2012, coupled with the strong
capital adequacies; the bank is expected to continue its growth momentum.
Therefore considering these factors we rate HNB as a mid to longer term
investment.

7/4/2012

8/16/2012

9/28/2012

11/12/2012

12/28/2012

2/14/2013

100
80
60

40
20

COMBX

0
5/ 21/ 2012

7/ 4/ 2012

8/ 16/ 2012

9/ 28/ 2012

11/ 12/ 2012

12/ 28/ 2012

2/ 14/ 2013

LKR

180

4/ 2/ 2012

160

140
120
100
80

60
40
20

HNB

0
2/16/2012

140
120

4/2/2012

5/21/2012

7/ 4/ 2012

8/16/2012

9/28/2012

11/12/2012

12/ 28/ 2012

2/14/2013

LKR

Banking & Finance


X- LKR 115.60

5/21/2012

120

2/ 16/ 2012

Hatton National Bank


N-LKR 147.30

4/2/2012

LKR

Commercial Bank is the largest private sector commercial bank with an asset
base of LKR498.1 bn as at end Sept 2012, and operates with above 400 ATM
points, which is also the largest single network in the country. Towards the
future, bank is well positioned with capital, consequent to the recently concluded
Rights issue of circa LKR5 bn enabling the bank to extend its credit further. With
the declining interest rates in the economy consequent to the cut in policy rates
and lifting the credit ceiling that prevailed during 2012, coupled with the strong
capital adequacies; the bank is expected to continue its growth momentum.
Therefore considering these factors we rate COMB as a mid to longer term
investment.

100

80
60

40
20
HNBX

0
2/ 16/ 2012

4/2/2012

5/21/2012

7/4/2012

8/ 16/ 2012

9/28/2012

11/12/2012

12/28/2012

2/ 14/ 2013

LB Finance
N LKR 144.00
.0

Banking & Finance

LB Finance is a leading registered finance company engaged in Leasing and


Hire Purchase business. Company is operating with a total asset base of LKR 48
bn as at end Sept FY2013, and an island wide branch net work of 26. With
satisfactory liquidity levels and capital adequacies, company is poised to take
advantage in any growth in credit demand. The declining interest rates in the
economy and rising demand for credit is to provide many opportunities for
these business models. Further company would stay ahead of other finance
companies consequent to its strong fundamentals, high interest margins, high
ROE etc...Therefore we rate LFIN as a worthwhile investment with a time span
of medium to long term.

180
160

LKR

140
120
100
80

60
40
LFIN

20
0
2/16/2012

4/2/2012

5/21/2012

7/4/2012

8/16/2012

9/28/2012 11/12/2012 12/28/2012 2/14/2013

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 10

Piramal Glass
N LKR 6.20

Manufacturing

The company is the sole glass manufacture in Sri Lanka who supplies
glasscontainers to thefood and beverages, cosmetics, perfumery and the
pharmaceutical sectors.
The company at present virtually holds a
monopolistic position in the Local market with an approximately 97% market
share. Further, with their state of the art manufacturing plant in Horana,
coupled with the growing demand derived from the rapid developments
taking place within the Sri Lankan economy, the company is likely to deliver
better returns to its shareholders.

LKR

Focus on Investment
5
4
3
2

GLAS

9
8

4/2/2012

5/21/2012

7/4/2012

LKR

2/16/2012

7
6
5
4

3
2
1

GLAS

0
11/3/2011

12/19/2011

2/1/2012

3/20/2012

5/8/2012

6/20/2012

8/3/2012

9/17/2012

10/30/2012

8/16/2012

9/28/2012 11/12/2012 12/28/2012 2/14/2013

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 11

Stock Exchange Anouncements


As at 15th February 2013
Rights issues
Company

Proportion / Issue Price

Pelwatte Sugar

01 for 04 @ LKR18.00

Kotagala Plantations
Chilaw Finance

01 for 04 @ LKR 45.00


01 for 07 @ LKR 10.00

Last Date Of
Acceptance &
Payment

XR date

Trading of rights
Commences on

* Rights issue would be delayed until the outcome of the


proposed Act with regard to acquisition of its land by the
State is known.

06-03-2013

27-03-2013
To be notified

18-03-2013

SUB- DIVISION OF SHARES


Company

Description

Colonial Motors
(Subsequent to Right Issue)

07 shares to be subdivided into 10


shares

Sub-Division
based on
shareholding as
at
12-02-2013

Period of dealing
suspension

Date of
commencement
of trading

13-02-2013 to 15-02-2013

18-02-2013

CAPITALISATION OF RESERVES
Company

Description

XC Date

Commercial Credit and Finance Plc

01 for 10.9037 ordinary shares held

To be notified

Company

Description

NBD Capital Holdings Plc

01 for 04 ordinary shares held @


LKR 545.00

Entitlement date for the


repurchase
01-03-2013(End of Trading)

REPURCHASE OF SHARES

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM 12

Stock Exchange Anouncements


Dividends announcements
Company

Dividend per share

Royal Ceramics Lanka


Richard Pieris & Co
Commercial Bank of Ceylon
Vallibel Power Erathna
Watawala Plantations
HaycarbPlc
Peoples Finance Plc
Pan Asia Banking Corporation
Cargills
Dipped Products
HNB Assurance
Ceylon Tobacco Company
Amaya Leisure
C.T. Land Development
Textured Jersey Lanka
Access Engineering
National Development Bank
Aviva NDB Insurance
C.T Holdings
Sampath Bank

Interim Dividends of LKR 2.00


Interim Dividends of LKR 0.20
Second Interim Dividends ( Voting & Nonvoting) of LKR 1.00
Interim Dividends of LKR 0.25
Interim Dividends of LKR 0.50
Interim Dividends of LKR 4.00
Interim Dividends of LKR 2.25
Interim Dividends of LKR 1.00
Interim Dividends of LKR 0.70
Interim Dividends of LKR 4.00
Final Dividends of LKR 2.75
Final Dividends of LKR 6.50
Interim Dividends of LKR 4.00
Interim Dividends of LKR 0.80
First Interim Dividends of LKR 0.66
Interim Dividends of LKR 0.25
Interim Dividends of LKR 5.00
First & Final Dividends of LKR 2.50
Interim Dividends of LKR 0.65
First & Final Dividends of LKR 6.00

XD Date
13-02-2013
06-02-2013
07-02-2013
08-02-2013
11-02-2013
12-02-2013
12-02-2013
12-02-2013
12-02-2013
15-02-2013
28-03-2013
01-04-2013
19-02-2013
19-02-2013
18-02-2013
18-02-2013
26-02-2013
28-03-2013
26-02-2013
01-04-2013

Payment Date
22-02-2013
15-02-2013
18-02-2013
19-02-2013
20-02-2013
20-02-2013
21-02-2013
21-02-2013
21-02-2013
26-02-2013
08-04-2013
09-04-2013
28-02-2013
26-02-2013
28-02-2013
28-02-2013
06-03-2013
08-04-2013
07-03-2013
09-04-2013

15th February 2013

Sri Lanka Focus

ASIA RESEARCH TEAM

13

Valuation Guide
Company

YE

SH(mn) M.CAP(Bn)

Price
FY10

Earnings (LKR mn)


FY11
FY12
FY13E

FY14E

147.30
115.60
92.00
109.20
242.00
152.00

4,786.8
4,786.8
5,508.0
5,508.0
3,484.5
2,102.6

6,148.8
6,148.8
8,094.7
8,094.7
4,150.6
2,705.5

8,265.4
8,265.4
9,689.9
9,689.9
5,422.9
3,184.6

11,625.6
11,625.6
12,960.3
12,960.3
8,146.1
4,973.1

12.0
12.0
6.6
6.6
21.4
12.8

15.5
15.5
9.7
9.7
25.5
16.5

20.8
20.8
11.6
11.6
33.3
19.4

25.2
25.2
12.9
12.9
41.9
24.3

29.3
29.3
15.5
15.5
50.1
30.3

12.2
9.6
13.9
16.5
11.3
11.9

9.5
7.5
9.5
11.2
9.5
9.2

7.1
5.6
7.9
9.4
7.3
7.8

5.9
4.6
7.1
8.4
5.8
6.2

5.0
4.0
5.9
7.0
4.8
5.0

7.50
7.50
6.00
6.00
7.91
3.50

5.1%
6.5%
6.5%
5.5%
3.3%
2.3%

15%
15%
18%
18%
20%
16%

101.6
101.6
53.5
53.5
128.0
104.1

1.5
1.1
1.7
2.0
1.9
1.5

6.1
5.1

9.7
6.2

11.5
9.1

12.9
9.3

14.6
12.5

37.7
24.6

23.8
20.0

20.1
13.7

17.9
13.4

15.8
10.0

3.00
0.63

1.3%
0.5%

14%
15%

83.5
61.4

2.8
2.0

FY10

FY11

EPS
FY12

FY13E

FY14E

FY10

FY11

PE
FY12

FY13E

FY14E

DPS

DY

ROE

BVPS

PBV

FINANCIAL SERVICES
HNB
HNB(NV)
Commercial Bank
Commercial Bank(NV)
Sampath Bank
NDB Bank

Dec
Dec
Dec
Dec
Dec
Dec

317.79
79.66
53.47
780.13
162.74
164.20

CONGLOMERATES
John Keells Hold.
Aitken Spence Hold.

Mar
Mar

852.52
406.00

196.1 230.00
50.7 125.00

5,201.5
2,059.6

8,245.6
2,536.0

9,775.0 10,975.6 12,425.0


3,709.2 3,788.5 5,089.4

FOOD & BEVERAGE


Distilleries
Ceylon Tobacco

Mar
Dec

300.00
187.32

55.5 185.00
155.1 828.00

2,135.7
5,097.1

8,124.0
6,568.8

5,675.4
8,518.4

6,456.3
9,411.9

8,918.3
9,641.1

7.1
27.2

27.1
35.1

18.9
45.5

21.5
50.2

29.7
51.5

26.0
30.4

6.8
23.6

9.8
18.2

8.6
16.5

6.2
16.1

3.00
43.31

1.6%
5.2%

15%
184%

122.2
19.0

1.5
43.5

TOURISM
Asian Hotels & Properties Mar
Aitken Spence Hotel
Mar

442.78
336.29

31.9
25.7

72.00
76.30

629.8
523.8

1,774.5
1,034.1

2,150.6
1,395.3

2,458.9
1,795.0

2,764.1
2,415.8

1.4
1.6

4.0
3.1

4.9
4.1

5.6
5.3

6.2
7.2

52.7
49.0

18.7
24.8

14.8
18.4

13.0
14.3

11.5
10.6

2.00
0.00

2.8%
0.0%

14%
13%

33.8
33.1

2.1
2.3

MANUFACTURING
Chevron Lubricants
Tokyo (V)
Tokyo (NV)
Piramal Glass

Dec
Mar
Mar
Mar

120.00
202.50
101.25
950.09

26.1 217.50
5.1 25.00
1.9 18.50
5.9
6.20

1,501.3
369.3
369.3
(61.1)

2,000.6
855.7
855.7
578.7

2,286.6
973.2
973.2
686.4

2,175.3
1,456.0
1,456.0
891.2

2,150.3
1,505.0
1,505.0
948.2

12.5
1.2
1.2
(0.1)

16.7
2.8
2.8
0.6

19.1
3.2
3.2
0.7

18.1
4.8
4.8
0.9

17.9
5.0
5.0
1.0

17.4
20.6
15.2
N/A

13.0
8.9
6.6
10.2

11.4
7.8
5.8
8.6

12.0
5.2
3.9
6.6

12.1
5.0
3.7
6.2

9.00
1.00
1.00
0.36

4.1%
4.0%
5.4%
5.8%

63%
15%
15%
21%

26.3
20.7
20.7
3.4

8.3
1.2
0.9
1.8

Chemical &
Pharmaceutical
CIC Holdings (V)
CIC Holdings (NV)

Mar
Mar

72.90
21.87
94.77

62.60
49.90

589.6
589.6

926.6
926.6

916.5
916.5

820.0
820.0

1,405.2
1,405.2

6.2
6.2

9.8
9.8

9.7
9.7
.

8.7
8.7

14.8
14.8

10.1
8.0

6.4
5.1

6.5
5.2

7.2
5.8

4.2
3.4

3.20
3.20

5.1%
6.4%

12%
12%

77.5
77.5

0.8
0.6

2.7 108.60
1.8 77.00
1.8 56.00

376.1
146.7
323.2

837.7
409.3
667.8

681.5
374.6
438.6

823.7
404.7
569.3

892.1
454.4
620.9

15.0
6.2
10.1

33.5
17.2
20.9

27.3
15.8
13.7

32.9
17.0
17.8

35.7
19.1
19.4

7.2
12.5
5.5

3.2
4.5
2.7

4.0
4.9
4.1

3.3
4.5
3.1

3.0
4.0
2.9

7.50
4.50
2.00

6.9%
5.8%
3.6%

24%
24%
18%

115.6
65.8
77.2

0.9
1.2
0.7

8.7
1.0

243.1
243.1

852.7
852.7

930.3
930.3

968.0
968.0

1,185.1
1,185.1

0.6
0.6

2.2
2.2

2.4
2.4

2.5
2.5

3.1
3.1

41.4
30.1

11.8
8.6

10.8
7.9

10.4
7.6

8.5
6.2

1.50
1.50

5.8%
7.9%

15%
15%

19.1
17.5

1.4
1.1

PLANTATIONS
Kegalle Plantations
Mar
Namunukula Plantations Mar
Kotagala Plantations
Mar

Laugfs Gas (Voting)


Laugfs Gas (Non voting)

25.00
23.75
32.00

POWER & ENERGY


Mar
335.00
Mar
52.00

46.8
9.2
4.9
85.2
39.4
25.0

4,563.5
1,091.3

26.00
18.90

10,003.5
10,003.5
10,791.3
10,791.3
6,818.3
3,997.5

*Companies with their financial year ending in December would carry forecasted figure for FY12.

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

MARKET
FINANCIAL SERVICES
Banking
COMMERCIAL BANK [V]
COMMERCIAL BANK [NV]
DFCC BANK
HNB [V]
HNB [NV]
NATIONS TRUST BANK
NDB
PAN ASIA BANK
SAMPATH BANK
SEYLAN BANK [V]
SEYLAN BANK [NV]
HDFC
UNION BANK
Finance Co.s & / Merchant Banks
ASIA CAPITAL
ALLIANCE FINANCE
ARPICO FINANCE
CENTRAL FINANCE
NATION LANKA
LOLC
LB FINANCE
MERCHANT BANK
PEOPLE'S MERCHANT
SMB LEASING PLC [V]
SMB LEASING PLC [NV]
THE FINANCE
THE FINANCE[NV]
SOFTLOGIC FINANCE
PEOPLE'S FINANCE
VALLIBEL FINANCE
SINHAPUTRA
SINGER FINANCE
BIMPUTH LANKA INVESTMENTS
TRADE FINANCE

Year
End

Price
(LKR)

1W(%)
(0.36)
0.25

ASIA RESEARCH TEAM

Price Performance
1M(%)
1Q(%)
1.39
4.89
2.31
6.09

Shares
Mn

Trailing
ROE

BVPS

13.22%
13.51%

COMBN
COMBX
DFCCN
HNB N
HNB X
NTB N
NDB N
PABCN
SAMPN
SEYBN
SEYBX
HDFCN
UBC N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB

D
D
M
D
D
D
D
D
D
D
D
D
D

109.20
92.00
126.00
147.30
115.60
60.00
152.00
18.20
242.00
59.90
34.50
47.50
15.90

0.55
(0.43)
0.72
0.40
0.09
(0.33)
2.15
(3.70)
0.04
(1.80)
0.29
(2.86)
1.28

3.81
(0.86)
5.80
1.64
2.66
2.22
7.26
(1.62)
17.12
4.36
1.17
(1.45)
17.04

3.81
(0.32)
12.91
2.69
1.14
5.09
10.29
(5.21)
23.70
1.53
(0.86)
(13.45)
9.72

780.13
53.47
265.10
317.79
79.66
230.61
164.20
295.04
162.74
173.33
164.75
64.71
349.25

ACAPN
ALLIN
ARPIN
CFINN
CSF N
LOLCN
LFINN
MBSLN
PMB N
SEMBN
SEMBX
TFC N
TFC X
CRL N
SMLLN
VFINN
SFL N
SFINN
BLI N
TFILN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
D
M
D
D
M
M
M
D
M
M
M
M
M

28.00
750.00
84.00
185.00
9.80
62.00
144.00
19.30
13.40
0.90
0.40
17.60
5.40
24.90
39.00
31.00
81.00
12.90
15.10
12.80

(2.10)
1.95
2.31
1.04
(1.01)
(4.76)
(2.51)
(2.90)
(11.11)
(1.73)
(3.57)
(4.60)
(1.01)
(0.12)
(1.52)
(2.58)
(1.54)

(7.59)
1.95
(2.21)
2.72
(2.97)
3.33
(2.77)
(2.02)
(9.46)
(11.11)
(6.59)
(15.63)
(9.45)
6.49
1.31
2.14
(3.70)
(19.68)
(0.78)

(8.50)
0.68
1.45
8.76
(2.00)
20.39
(3.68)
(14.54)
(12.99)
(27.27)
(15.00)
(16.92)
(11.07)
35.40
(9.36)
(2.76)
(10.34)
(38.37)
(1.54)

110.00
2.43
4.46
104.88
249.91
475.20
69.26
135.00
67.50
1,191.77
614.07
57.97
100.00
37.45
74.58
41.55
6.30
165.33
26.93
56.80

18.78%
18.78%
12.27%
16.25%
16.25%
19.02%
16.44%
19.69%
19.83%
11.84%
11.84%
10.33%
5.29%
17%
na
31.87%
13.11%
20.15%
na
19.06%
39.52%
3.33%
na
3.99%
3.99%
na
na
9.66%
20.07%
32.49%
7.85%
12.49%
7.19%
20.22%

61.40
61.40
98.48
111.06
111.06
41.57
112.61
13.10
148.23
56.91
56.91
36.25
15.20
6.92
633.06
88.53
140.53
1.74
43.37
65.30
22.06
13.20
0.53
0.53
-29.22
-29.22
29.77
25.18
18.61
123.96
10.85
8.93
10.82

Net Profits
4 Qtrs trailing
177,576.82
54,170.53
33,196.64
9,611.80
9,611.80
3,203.82
7,171.46
7,171.46
1,823.67
3,039.55
760.76
4,784.49
2,278.10
2,278.10
242.35
280.65
16,699.64
(553.02)
490.34
51.78
2,970.20
(289.83)
3,928.29
1,787.02
99.25
(149.66)
38.19
38.19
(981.80)
(981.80)
107.71
376.87
251.29
61.27
224.00
17.30
124.27

Sep'12
48,333.83
13,682.61
7,943.94
2,303.20
2,303.20
819.13
1,676.38
1,676.38
566.53
678.77
195.40
1,044.53
589.19
589.19
0.01
70.79
5,132.62
(145.25)
144.21
10.38
796.33
(81.05)
605.22
429.15
30.48
1.28
27.83
27.83
(357.76)
(357.76)
55.33
176.67
66.92
31.19
61.19
3.94
71.12

Net Profits (mn)


Jun12
Mar12
32,067.82 54,205.62
11,388.57 15,014.04
8,152.55
8,578.58
2,469.90
2,849.70
2,469.90
2,849.70
682.38
765.47
1,707.60
1,533.32
1,707.60
1,533.32
487.50
405.70
641.28
720.87
159.63
196.55
1,359.21
1,494.20
612.27
412.49
612.27
412.49
5.36
125.36
27.42
74.92
2,525.91
5,878.58
(139.98)
(72.52)
110.77
117.71
18.18
14.90
785.24
648.67
(100.43)
(80.37)
656.84
1,992.41
432.96
487.04
6.67
16.52
(36.87)
(110.23)
9.91
6.63
9.91
6.63
(393.92)
(212.61)
(393.92)
(212.61)
52.38
200.21
61.74
57.03
30.08
59.43
46.04
13.37
53.16

Dec11
43,081.79
14,230.58
8,521.56
1,989.00
1,989.00
936.83
2,254.16
2,254.16
363.94
998.63
209.19
886.54
664.15
664.15
111.62
107.52
3,307.81
(195.27)
117.65
8.33
739.97
(27.98)
673.82
437.87
45.57
(3.84)
(6.18)
(6.18)
(17.50)
(17.50)

65.60
57.34

14

Trailing
EPS

Trailing
PE

PBV

Market Cap
(mn)

12.61
10.31

1.67
1.39

2,239,774.10

11.53
11.53
12.09
18.04
18.04
7.91
18.51
2.58
29.40
6.74
6.74
3.75
0.80

9.5
8.0
10.4
8.2
6.4
7.6
8.2
7.1
8.2
8.9
5.1
12.7
19.8

1.8
1.5
1.3
1.3
1.0
1.4
1.3
1.4
1.6
1.1
0.6
1.3
1.0

85,190.72
4,919.58
33,402.31
46,810.83
9,208.47
13,836.44
24,958.69
5,369.75
39,382.27
10,382.67
5,683.76
3,073.75
5,553.08

na
201.78
11.60
28.32
na
8.27
25.80
0.74
na
0.02
0.02
na
na
2.88
5.05
6.05
9.73
1.35
0.64
2.19

na
3.7
7.2
6.5
na
7.5
5.6
26.3
na
42.6
18.9
na
na
8.7
7.7
5.1
8.3
9.5
23.5
5.9

4.0
1.2
0.9
1.3
5.6
1.4
2.2
0.9
1.0
1.7
0.8
-0.6
-0.2
0.8
1.5
1.7
0.7
1.2
1.7
1.2

3,080.00
1,822.50
374.85
19,403.42
2,449.15
29,462.40
9,973.03
2,605.50
904.50
1,072.59
245.63
1,020.21
540.00
932.60
2,908.50
1,288.07
509.97
2,132.80
406.69
727.05

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

CITIZENS DEVELOPMENT FINANCE


CITIZENS DEVELOPMENT FINANCE [NV]
SENKADAGALA FINANCE
SWARNAMAHAL FINANCE
CHILAW FINANCE LIMITED
COMMERCIAL CREDIT LIMITED
MERCANTILE INVESTMENTS
MULTI FINANCE
LANKA ORIX FINANCE
ABANS FINANCIAL SERVICES
CENTRAL INV & FINPLC
ASSOCIATED MOTOR FINANCE PLC
CAPITAL ALLIANCE FINANCE LIMITED
NANDA INVESTMENTS AND FINANCE
SOFTLOGIC CAPITAL LIMITED
ENTRUST
PEOPLES LEASING
ASIA ASSET FINANCE LIMITED
ORIENT FINANCIAL SERVICE
SANASA DEVELOPMENT BANK
COMMERCIAL LEASING & FINANCE
GEORGE STEUART FINANCE
Insurance
AMANA TAKAFUL INS.
ASIAN ALLIANCE
CEYLINCO INSURANCE [V]
CEYLINCO INSURANCE [NV]
AVIVA NDB
HNB ASSURANCE
UNION ASSURANCE
JANASHAKTHI
Venture Capital Co.s
NDB CAPITAL
FIRST CAPITAL
LANKA VENTURES

Price Performance
1W(%)
1M(%)
2.44
1.20
(0.66)
(5.96)
2.78
8.82
(5.22)
(7.30)
(1.37)
(9.43)
3.32
2.19
(7.89)
(8.55)
(10.66)
(5.00)
(11.63)
(6.25)
(11.56)
(1.11)
(9.64)
(1.43)
2.99
(1.64)
(13.04)
(9.86)
(4.48)
8.46
(0.70)
(3.85)
(10.71)
6.12
4.70
(3.22)
(5.00)
5.00
7.69
4.02
(11.74)

ASIA RESEARCH TEAM

CDB N
CDB X
SFCLN
SFS N
CFL N
COCRN
MERCN
MFL N
LOFCN
AFSLN
CIFLN
AMF N
CALFN
NIFLN
SCAPN
ESL N
PLC N
AAF N
ORINN
SDB N
CLC N
GSF N

MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

Year
End
M
42.00
M
30.00
M
50.00
M
3.70
M
12.70
M
14.40
M
2200.00
M
28.00
M
3.50
M
31.00
M
3.80
M
375.00
M
19.00
M
6.80
M
6.00
M
19.20
M
14.00
M
2.50
M
15.60
M
71.90
M
4.20
M
650.10

1Q(%)
4.48
6.38
2.78
(19.11)
(5.88)
(11.11)
(5.41)
(14.36)
(17.39)
(6.25)
(39.66)
7.81
(13.04)
6.67
17.50
(3.85)
(6.02)
(5.99)
13.51
(12.27)

Shares
Mn
46.30
8.01
53.37
500.00
29.66
218.07
3.01
22.46
2,800.00
37.00
83.43
5.61
38.77
100.72
299.20
33.00
1,560.00
559.47
115.63
25.18
6,377.71
22.50

Trailing
ROE
25.68%
25.68%
34.27%
26.83%
10.43%
61.41%
4.64%
0.12%
22.09%
13.82%
na
29.16%
5.69%
8.38%
na
1.48%
18.31%
7.88%
24.42%
9.91%
10.15%
7.24%

BVPS
45.67
45.67
33.57
1.01
10.86
5.70
1892.02
19.55
1.89
11.66
8.07
101.32
6.17
5.17
5.62
20.02
12.26
1.26
6.23
123.34
1.13
15.51

ATL N
AAICN
CINSN
CINSX
CTCEN
HASUN
UAL N
JINSN

DiriSaviB
DiriSaviB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

D
D
D
D
D
D
D
D

1.70
82.50
953.00
320.00
291.10
53.00
87.00
10.80

6.67
(0.12)
(4.70)
(4.43)
0.19
(2.25)
-

(5.88)
(6.25)
2.47
(3.00)
(5.49)
7.54
1.16
-

(2.94)
18.99
(1.54)
(15.62)
1.93
(1.14)
-

1,000.00
37.50
20.00
6.41
30.00
50.00
85.71
363.00

na
2.21%
12.62%
12.62%
23.66%
21.28%
25.44%
16.56%

0.89
22.86
425.89
425.89
105.30
32.95
33.38
8.65

CDICN
CFVFN
LVENN

MainB
MainB
MainB

D
M
M

490.00
12.30
32.00

0.31
6.03
3.23

(4.33)
4.24
-

15.71
(1.60)
6.31

43.86
101.25
50.00

9.23%
na
24.17%

127.78
12.34
18.49

Net Profit
4Qtrs
636.84
636.84
613.96
135.82
33.60
763.07
264.15
0.52
1,171.41
59.63
(28.41)
165.68
13.61
43.67
(533.81)
9.75
3,502.00
55.44
175.89
307.79
730.30
25.25
3,715.04
(68.83)
18.90
1,419.35
1,419.35
747.30
350.57
727.80
519.94
559.21
516.98
(181.19)
223.41

Sep'12
148.50
148.50
178.10
71.65
12.42
270.32
416.78
(13.68)
543.10
27.55
(31.16)
73.79
5.77
12.26
(172.30)
56.55
806.00
36.00
88.62
65.36
594.70
15.12
384.35

160.50
160.50
103.09
54.86
65.90
221.70
118.53
73.04
30.13

Net
Jun'12
97.04
97.04
136.29

0.41

710.00

Profits
Mar'12
234.27
234.27
153.74
64.17
21.18
492.75
(152.64)
14.20
628.31
32.08
0.83
91.88
7.84
31.40
(361.51)
(46.80)
1,154.00
19.44
87.27

111.65

Dec'11
157.03
157.03
145.84

1.52
79.92

832.00

196.14
135.60
10.13

490.68
17.08
(25.82)
109.16
109.16
99.99
54.89
71.61
163.77
219.43
145.90
33.95
39.59

389.22

220.66
220.66
63.35
28.95
76.27
167.65
88.69
(73.30)
152.26

2,450.79
(85.91)
44.73
929.03
929.03
480.87
211.87
514.02
356.17
(49.58)
163.86
(214.88)
1.44

15

Trailing
EPS
11.73
11.73
11.50
0.27
1.13
3.50
87.87
0.02
0.42
1.61
0.00
29.54
0.35
0.43

Trailing
PE
3.6
2.6
4.3
13.6
11.2
4.1
25.0
1204.9
8.4
19.2
na
12.7
54.1
15.7

PBV

Mkt Cap Mn

0.9
0.7
1.5
3.7
1.2
2.5
1.2
1.4
1.8
2.7
0.5
3.7
3.1
1.3

2.24
0.10
1.52
na
0.11
1.12

6.2
25.2
10.3
na
36.7
579.3

1.1
2.0
2.5
na
3.7
41.9

1,944.57
240.18
2,668.40
1,850.00
376.73
3,140.27
6,613.20
628.94
9,800.00
1,147.00
317.02
2,103.13
736.55
684.87
1,795.20
633.60
21,840.00
1,398.68
1,803.75
1,810.11
26,786.39
14,627.25

53.73
53.73
24.91
7.01
8.49
1.43

17.7
6.0
11.7
7.6
10.2
7.5

2.2
0.8
2.8
1.6
2.6
1.2

1,700.00
3,093.75
19,060.00
2,052.63
8,733.00
2,650.00
7,457.14
3,920.40

11.79
na
4.47

41.6
na
7.2

3.8
1.0
1.7

21,488.95
1,245.38
1,600.00

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

Year
End

ASIA RESEARCH TEAM

Price Performance
1W(%)
1M(%)
(0.57)
(0.85)
(13.61)
(15.33)
1.66
4.08
(1.16)
(2.11)
(2.13)
2.99
0.17
(6.99)
(0.74)
(5.27)
(5.66)
4.71
(3.13)
6.90
0.40
(9.42)
0.98
2.72
(3.99)
(9.40)
(9.33)
1.41
(5.26)
(0.31)
6.67
0.78
9.34
(1.29)
2.28
(1.85)
(4.40)
(4.17)
(6.12)
(0.86)
(1.52)
(0.76)

1Q(%)
15.69
(16.61)
6.25
3.14
9.00
0.17
15.18
(54.75)
(50.00)
(17.76)
23.33
(4.00)
0.86
(7.22)
14.37
31.56
26.97
(14.49)
(2.13)
(4.17)
(3.70)
(5.11)

Shares
Mn
16.00
224.00
20.99
95.04
20.00
187.32
89.77
4.77
2.75
300.00
0.96
25.50
31.40
80.00
40.00
53.73
23.55
561.75
30.00
282.21
66.43

Trailing
ROE
28.33%
22.92%
11.56%
28.56%
32.18%
29.44%
179.64%
10.91%
10.91%
8.96%
15.46%
18.34%
7.89%
10.89%
22.90%
6.36%
93.78%
na
18.76%
8.22%
3.74%
6.54%

BVPS

100.50
34.22
136.74
77.17
372.76
24.20
15.31
15.31
98.07
133.86
614.26
57.77
21.45
68.66
53.41
52.59
35.18
3.41
21.92
2.66
7.48

Net Profit
4Qtrs
25,832.26
368.59
886.56
819.51
2,359.74
2,194.96
8,145.00
157.95
157.95
24.18
6,209.77
108.12
116.29
73.34
1,257.97
135.79
2,649.72
(149.28)
359.35
54.07
28.12
32.51

Sep'12
6,377.65
18.50
81.07
169.09
179.40
456.20
2,300.00
39.80
39.80
3.90
1,616.60
22.33
4.97
16.12
314.53
78.55
798.13
3.57
198.72
30.62
20.02
25.54

Net
Jun'12
6,001.66
50.08
245.79
151.14
250.90
427.46
2,405.00
36.79
36.79
(0.17)
1,461.80
19.49
15.23
27.34
313.42
43.98
784.17
(254.68)

Profits
Mar'12
8,265.38
149.99
322.24
92.39
1,546.06
834.87
1,489.0
18.61
18.61
5.43
2,857.87
42.74
45.00
7.95
186.85
(36.49)
461.82
64.81
160.62
0.56
8.10
6.98

Dec'11
5,187.57
150.03
237.46
406.88
383.38
476.43
1,951.00
62.75
62.75
15.02
273.50
23.57
51.09
21.93
443.18
49.75
605.60
37.03

BEVERAGE FOOD AND TOBACCO


BAIRAHA FARMS
CARGILLS
CEYLON BREWERY
CEYLON COLD STORES
CEYLON TEA SERVICES
CEYLON TOBACCO
RENUKA SHAW WALLACE (N)
RENUKA SHAW WALLACE [NV]
CONVENIENCE FOOD
DISTILLERIES
HARISCHANDRA MILLS
KEELLS FOOD PRODUCTS
KOTMALE HOLDINGS
LION BREWERY
LANKA MILK FOODS
NESTLE LANKA
THREE ACRE FARMS
RENUKA AGRI
TEA SMALLHOLDERS
RAIGAM WAYAMBA SALTERNS LTD
HVA FOODS

BFL N
CARGN
BREWN
CCS N
CTEAN
CTC N
COCON
COCOX
SOY N
DISTN
HARIN
KFP N
LAMBN
LIONN
LMF N
NESTN
TAFLN
RAL N
TSMLN
RWSLN
HVA N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
D
D
M
M
M
M

125.00
153.00
469.50
138.00
650.00
828.00
20.00
20.00
125.00
185.00
2400.00
70.00
36.00
320.00
116.00
1625.00
47.80
4.70
46.00
2.50
12.90

CHEMICALS & PHARMACEUTICALS


CHEMANEX
CHEMICAL INDUSTRIES [V]
CHEMICAL INDUSTRIES [NV]
HAYCARB
INDUSTRIAL ASPHALTS
J.L. MORISON [V]
J.L. MORISON [NV]
LANKEM CEYLON
SINGALANKA
MULLERS
UNION CHEMICALS
PC PHARMA

CHMXN
CIC N
CIC X
HAYCN
ASPHN
MORIN
MORIX
LCEYN
SINGN
MULLN
UCARN
PCP N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M
M
D

80.00
62.60
49.90
170.00
200.00
170.00
102.60
162.00
78.00
1.60
460.00
9.90

(2.77)
(3.69)
(5.71)
(0.79)
(3.21)
(18.32)
(5.88)
8.79

(4.06)
(1.23)
(3.10)
(6.54)
(3.41)
(10.71)
(10.53)
(11.55)
(3.57)
(13.62)
(5.88)
(7.82)
(1.00)

(6.87)
2.56
(13.77)
(13.64)
(0.64)
(19.32)
(10.53)
(9.28)
(4.14)
(25.64)
(11.11)
(11.54)
(1.98)

15.75
72.90
21.87
29.71
0.67
5.81
1.74
24.00
5.54
283.00
1.50
101.00

9.68%
1.44%
7.70%
7.70%
19.00%
3.70%
10.23%
10.23%
9.78%
5.88%
28.10%
17.11%
24.28%

80.60
76.36
76.36
123.20
106.71
252.97
252.97
153.92
54.16
0.61
192.15
2.73

2,012.42
18.22
556.91
556.91
695.61
2.63
195.34
195.34
361.44
17.64
48.41
49.31
66.90

395.29
9.86
48.63
48.63
243.24
0.47
36.52
36.52
(11.17)
27.83
13.43
5.94
20.54

127.64
(6.14)
(17.32)
(17.32)
179.15
0.55
25.17
25.17
(72.66)
(3.21)
8.74
13.37

470.74
(8.49)
155.61
155.61
132.72
1.11
81.41
81.41
42.27
(13.77)
19.06
14.47
46.36

1,018.75
22.99
369.99
369.99
140.50
0.51
52.24
52.24
403.01
6.79
7.19
15.53
na

CONSTRUCTIONS
COLOMBO DOCKYARD
LANKEM DEVELOPMENTS
MTD WALKERS
ACCESS ENGINEERING LIMITED

DOCKN
LDEVN
KAPIN
AEL N

MainB
MainB
MainB
MainB

D
M
M
M

227.00
6.90
24.60
20.30

(0.09)
(0.61)
(4.65)
0.99

3.06
(1.94)
(5.48)
(8.55)
9.63

2.17
1.11
(6.76)
(9.56)
5.13

71.86
60.00
114.36
1,000.00

15.69%
21.91%
na
1.47%
18.83%

140.53
14.02
31.79
11.18

4,042.32
2,212.59
(329.17)
53.54
2,105.37

1,218.16
343.17
(26.82)
89.54
812.27

420.13
450.98
18.04
(48.89)

1,687.27
745.17
(250.85)
(100.14)
1,293.10

716.77
673.27
(69.54)
113.03

23.92

(1.03)

16

Trailing
EPS

PBV

Mkt Cap Mn

23.04
3.96
39.05
24.83
109.75
43.48
1.67
1.67
8.79
20.70
112.65
4.56
2.34
15.72
3.39
49.32
na
0.64
1.80
0.10
0.49

Trailing
PE
16.59
5.4
38.7
12.0
5.6
5.9
19.0
12.0
12.0
14.2
8.9
21.3
15.3
15.4
20.4
34.2
32.9
na
7.3
25.5
25.1
26.4

4.70
1.2
4.5
3.4
1.8
1.7
34.2
1.3
1.3
1.3
1.4
3.9
1.2
1.7
4.7
2.2
30.9
1.4
1.4
2.1
0.9
1.7

2,000.00
34,272.00
9,853.91
13,115.52
13,000.00
155,104.07
1,795.44
95.47
343.75
55,500.00
2,303.52
1,785.00
1,130.40
25,600.00
4,639.77
87,303.88
1,125.45
2,640.23
1,380.00
705.52
856.93

1.16
5.88
5.88
23.41
3.95
25.87
25.87
15.06
3.18
0.17
32.87
0.66

9.80
69.2
10.7
8.5
7.3
50.6
6.6
4.0
10.8
24.5
9.4
14.0
14.9

0.95
1.0
0.8
0.7
1.4
1.9
0.7
0.4
1.1
1.4
2.6
2.4
3.6

1,260.00
4,563.54
1,091.31
5,051.10
133.31
987.41
178.78
3,888.00
432.18
452.80
690.00
999.90

30.79
na
0.47
2.11

9.86
7.4
na
52.5
9.6

1.55
1.6
0.5
0.8
1.8

16,311.98
414.00
2,813.19
20,300.00

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

Year
End

DIVERSIFIED
AITKEN SPENCE
CARSON CUMBERBATCH
CEYLON THEATRES
COLOMBO FORT LAND
FINLAYS COLOMBO
HAYLEYS
HEMAS HOLDINGS
JOHN KEELLS HOLDINGS
DUNAMIS CAPITAL
RICHARD PIERIS
SUNSHINE HOLDINGS
SOFTLOGIC HOLDINGS
EXPOLANKA HOLDINGS
FREE LANKA CAPITAL HOLDINGS
VALLIBEL ONE LIMITED
BROWNS INVESTMENTS PLC
PCH HOLDINGS LIMITED
TAPROBANE HOLDINGS

SPENN
CARSN
CTHRN
CFLBN
JFINN
HAYLN
HHL N
JKH N
CSECN
RICHN
SUN N
SHL N
EXPON
FLCHN
VONEN
BIL N
PCHHN
TAP N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M

125.00
458.00
140.00
31.10
316.20
308.00
27.80
230.00
12.20
7.40
28.00
11.50
7.10
2.50
17.00
3.40
7.00
4.80

FOOTWEAR AND TEXTILES


CEYLON LEATHER
HAYLEYS - MGT
KURUWITA TEXTILES
ODEL

CLPLN
MGT N
KURUN
ODELN

MainB
MainB
MainB
DiriSaviB

M
M
M
M

72.60
10.30
22.00
22.50

HOTELS AND TRAVELS


City Hotels
ASIAN HOTEL & PROPERTIES
GALADARI
HOTEL DEVELOPERS
HOTEL SERVICES
RENUKA CITY HOTEL
TAJ LANKA
TRANS ASIA

AHPLN
GHLLN
HDEVN
SERVN
RENUN
TAJ N
TRANN

MainB
MainB
DefaultB
MainB
MainB
MainB
MainB

M
D
M
M
M
M
M

72.00
13.20
94.80
15.90
240.00
28.90
77.00

Price Performance
1W(%)
1M(%)
(0.85)
2.81
(0.79)
3.73
(3.48)
7.26
(0.14)
7.69
(3.98)
(6.27)
17.11
2.37
2.09
0.36
1.08
0.09
2.59
(4.80)
(0.83)
(3.90)
(5.13)
4.87
1.77
(1.71)
2.90
(3.85)
(2.87)
(8.65)
(10.53)
(1.41)
(6.67)
-

ASIA RESEARCH TEAM

Shares
Mn

1Q(%)
2.47
(0.79)
2.90
6.87
(10.80)
15.07
0.83
(0.71)
6.63
(4.80)
(8.64)
(3.45)
9.52
(9.63)
(19.05)
(21.35)
(5.88)

406.00
196.39
183.10
180.00
35.00
75.00
515.29
852.52
123.00
1,939.24
133.33
779.00
1,954.92
1,368.00
1,086.56
1,860.00
252.00
732.95

34.23
152.34
25.00
272.13

(2.55)
(0.68)
(8.85)
4.76
(2.17)

1.48
(6.08)
(3.74)
4.76
6.13

0.28
(11.57)
0.98
1.35

(1.14)

(1.06)

(4.40)

(4.70)
(1.50)
(4.32)
1.40
5.09
-

(4.70)
(6.43)
(9.88)
(0.71)
2.80

(14.46)
(6.43)
(3.73)
2.27
(7.07)
(1.41)

Trailing
ROE
10.98%
15.23%
7.46%
8.41%
18.20%
6.27%
5.65%
13.20%
14.56%
na
30.85%
21.45%
2.54%
12.14%
5.37%
6.07%
1.41%
79.92%

-5.59%
2.25%
na
na
9.33%

BVPS

63.82
164.94
68.89
32.11
154.18
250.97
21.24
87.82
8.97
3.52
22.76
10.03
4.48
4.85
28.07
5.85
6.26
3.35

Net Profit
4Qtrs
29,254.31
3,947.22
2,418.12
1,060.36
1,051.63
338.44
1,063.14
1,444.73
10,900.49
(249.73)
2,107.10
651.09
198.30
1,062.91
356.68
1,850.83
152.88
1,261.38
(361.28)

Sep'12
7,122.60
731.41
874.90
147.06
7.14
82.13
372.48
387.78
2,411.73
20.37
569.53
98.31
133.57
299.27
203.23
796.53
21.70
(52.17)
17.62

87.18
12.51
34.72
7.25

(432.25)
67.26
(653.37)
(30.11)
183.97

33.03
3.00
na
6.96
310.30
15.88
26.05

6,973.81
2,600.56
2,464.92
(846.04)
na
(389.53)
393.24
168.10
809.87

7.97%
442.78
182.43
45.23
176.00
7.00
139.64
200.00

16.86%
na
na
na
18.10%
7.58%
15.54%

Net
Jun'12
4,201.60
640.57
(93.01)
196.16
180.99
89.88
219.08
334.33
1,658.72
(9.59)
445.54
184.14
71.01
283.79

Profits
Mar'12
11,832.86
1,756.50
1,383.67
439.74
385.72
83.71
178.40
372.08
4,096.65
(73.92)
481.07
243.30
(74.14)
286.48
153.45
1,054.31
131.18
1,313.55
(378.90)

(29.84)
16.60
(85.11)
(65.46)
104.14

(60.71)
27.38
(41.65)
(46.45)

(236.86)
(15.42)
(369.86)
68.59
79.84

(104.84)
38.70
(156.75)
13.21

1,971.84
1,149.27
565.37
339.77
na
(106.40)
46.60
87.53
216.40

551.82
268.53
406.75
(323.10)
na
(96.74)
104.28
23.20
154.14

2,591.99
504.87
970.15
(663.02)

1,858.16
677.89
522.66
(199.69)

(199.64)
118.47
6.73
272.18

13.25
123.89
50.64
167.15

Dec'11
6,097.25
818.74
252.55
277.40
477.78
82.72
293.18
350.54
2,733.40
(186.59)
610.96
125.33
67.86
193.37

17

Trailing
EPS
9.72
12.31
5.79
5.84
9.67
14.18
2.80
12.79
na
1.09
4.88
0.25
0.54
0.26
1.70
0.08
5.01

Trailing
PE
16.83
12.9
37.2
24.2
5.3
32.7
21.7
9.9
18.0
na
6.8
5.7
45.2
13.1
9.6
10.0
41.4
1.4

1.96
na
na
0.68

na
37.0
na
na
33.3

1.39
0.8
0.8
0.6
3.1

21.66

1.73

12.9
na
na
na
4.3
24.0
19.0

2.2
4.4
na
2.3
0.8
1.8
3.0

5.57
na
na
na
56.18
1.20
4.05

PBV

Mkt Cap Mn

1.85
2.0
2.8
2.0
1.0
2.1
1.2
1.3
2.6
1.4
2.1
1.2
1.1
1.6
0.5
0.6
0.6
1.1
1.4

50,749.51
89,945.21
25,633.62
5,598.00
11,067.00
23,100.00
14,325.08
196,079.61
1,500.56
14,350.36
3,733.33
8,958.50
13,879.90
3,420.00
18,471.51
6,324.00
1,764.00
3,518.16

2,485.37
1,569.14
550.00
6,122.91

31,879.82
2,408.13
4,287.43
2,798.40
1,680.00
4,035.52
15,400.00

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

Year
End

Price Performance
1W(%)
1M(%)

ASIA RESEARCH TEAM

Shares
Mn

Trailing
ROE

BVPS

1Q(%)

Resort Hotels
AIT. SPENCE HOTEL HOLD.
AMAYA LEISURE
BROWNS BEACH HOTELS
CEYLON HOTELS CORP.
PALM GARDEN HOTEL
BERUWALA WALK INN
EDEN HOTELS
HOTEL SIGIRIYA
HUNAS FALLS
KANDY HOTELS
JOHN KEELLS HOTELS
LIGHT HOUSE HOTEL
MIRAMAR
MAHAWELI REACH
NUWARA ELIYA
PEGASUS
CITRUS LEISURE
ROYAL PALMS
SIGIRIYA VILLAGE
DOLPHIN HOTELS
TANGERINE
SERENDIB HOTELS [V]
SERENDIB HOTELS [NV]
MARAWILA RESORTS
FORTRESS RESORTS
KALPITIYA BEACH RESORT
WASKADUWA BEACH RESORT
BERUWALA RESORTS
HIKKADUWA BEACH RESORT

AHUNN
CONNN
BBH N
CHOTN
PALMN
BINNN
EDENN
HSIGN
HUNAN
KHC N
KHL N
LHLN
MIRAN
MRH N
NEH N
PEG N
REEFN
RPBHN
SIGVN
STAFN
TANGN
SHOTN
SHOTX
MARAN
RHTLN
CITKN
CITWN
BERUN
CITHN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DefaultB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M

76.30
84.00
18.80
20.50
113.00
74.90
35.00
80.10
58.70
9.80
13.70
45.80
77.00
22.20
1275.80
41.80
23.00
40.00
66.00
34.30
80.00
23.10
18.60
6.70
15.40
6.10
6.00
2.40
17.10

2.83
(3.45)
(2.11)
0.49
(1.97)
0.13
10.75
(4.04)
4.09
(6.10)
0.91
(8.81)
4.49
(1.30)
(6.54)
(0.90)
(0.29)
(4.10)
(0.53)
(1.47)
(3.17)
(1.64)
(10.78)

6.56
6.19
1.09
(3.32)
(12.31)
1.22
(2.78)
(3.49)
1.21
1.06
(6.15)
(18.60)
8.29
(8.88)
4.75
(8.10)
(13.04)
(9.66)
(3.38)
6.24
(0.43)
2.76
(10.67)
(4.91)
(10.29)
(4.76)
(7.69)
(17.27)

9.00
5.00
(8.82)
(10.53)
(23.53)
(5.19)
0.13
3.89
(3.06)
1.48
3.85
(22.85)
5.71
(6.66)
7.71
(20.07)
(25.93)
(6.61)
(2.56)
2.56
(3.31)
(1.59)
(14.10)
(7.19)
(15.28)
(13.04)
(11.11)
-

336.29
48.03
129.60
171.83
14.29
0.90
52.80
5.86
5.63
577.50
1,456.15
46.00
2.75
47.07
2.00
30.39
96.48
50.00
9.00
31.62
20.00
75.51
36.01
122.50
110.89
161.20
155.60
600.00
57.57

14.14%
15.87%
5.00%
0.17%
na
na
12.03%
24.04%
23.05%
2.33%
8.42%
5.55%
na
6.41%
11.47%
8.05%
0.33%
9.38%
8.47%
14.09%
6.86%
4.89%
4.89%
3.84%
19.93%
na
2.72%
2.28%
na

33.73
47.40
26.16
34.30
84.77
na
29.44
38.16
19.29
9.99
9.31
50.58
na
19.02
1078.46
44.11
25.35
28.84
58.05
28.00
101.07
14.09
14.09
7.07
7.07
10.34
10.44
0.93
na

Net Profit
4Qtrs
4,373.25
1,604.23
361.41
169.64
9.77
(521.32)
(12.85)
187.02
53.75
25.01
134.21
1,140.90
129.04
na
57.35
247.84
107.88
8.16
135.19
44.27
124.79
138.72
76.85
76.85
33.28
156.21
(94.89)
44.13
12.67
-

INVESTMENT TRUST
ASCOT HOLDINGS
CEYLON GUARDIAN
CEYLON INVESTMENT
COLOMBO FORT INV.
COLOMBO INV. TRUST
LEE HEDGES
RENUKA HOLDINGS [V]
RENUKA HOLDINGS [NV]
GUARDIAN CAPITAL

ASCON
GUARN
CINVN
CFIN
CIT N
SHAWN
RHL N
RHL X
WAPON

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M

161.00
176.00
85.00
105.00
113.00
253.00
35.50
24.00
45.00

(2.28)
(3.59)
(0.11)
(5.45)
(6.18)
(12.40)
0.32
0.57
(1.24)
(3.63)

2.33
2.42
5.64
(9.31)
(31.18)
(2.81)
(5.33)
(5.56)
(9.80)

(5.10)
(7.26)
(6.88)
(5.35)
(6.35)
(13.08)
(9.75)
(6.33)
(4.80)
(13.77)

7.99
82.10
98.51
6.50
6.50
5.12
44.52
6.43
25.83

1.57%
na
1.72%
1.75%
5.70%
8.22%
na
10.68%
10.68%
na

70.87
168.92
82.28
45.38
33.31
443.37
42.40
42.40
20.66

439.03
(10.10)
238.67
142.07
16.82
17.79
(128.23)
230.68
230.68
(68.67)

Sep'12
822.58
227.60
110.82
50.60
9.60
(22.15)
(4.79)
26.23
16.50
11.17
50.60
116.49
12.10
na
19.53
107.56
17.60
4.60
16.97
12.15
30.00
17.68
40.75
40.75
(5.30)
35.35
(49.51)
12.14
(41.72)

539.00
22.47
324.44
148.66
10.50
12.18
(38.57)
47.90
47.90
11.42

Net
Jun'12
283.29
171.51
53.47
45.04
(25.93)
(121.80)
(16.59)
15.11
7.77
7.70
26.87
40.36
14.29
na
1.01
36.72
21.23
(22.02)
(1.24)
(1.26)
26.49
9.34
(4.78)
(4.78)

Profits
Mar'12
2,087.12
697.77
113.77
40.99
34.36
(328.80)
(66.85)
95.93
17.99
3.52
40.41
698.09
78.80
na
26.79
78.94
41.02
80.57
85.46
16.21
39.73
69.10
22.89
22.89
38.58
120.86
(45.38)
31.99
54.38

(156.22)
31.09
(77.01)
(53.46)
2.48
3.30
(36.99)
30.34
30.34
(55.97)

233.09
(45.24)
112.90
112.93
1.66
1.16
(30.39)
91.84
91.84
(11.77)

Dec'11
1,180.27
507.35
83.35
33.01
(8.26)
(48.57)
75.38
49.75
11.49
2.62
16.33
285.96
23.85
10.02
24.62
28.03
(54.99)
34.00
17.17
28.57
42.60
17.99
17.99

(176.84)
(18.42)
(121.66)
(66.06)
2.18
1.15
(22.28)
60.60
60.60
(12.35)

18

Trailing
EPS

Trailing
PE

PBV

Mkt Cap Mn

4.77
7.52
1.31
0.06
na
na
3.54
9.17
4.45
0.23
0.78
2.81
na
1.22
123.68
3.55
0.08
2.70
4.92
3.95
6.94
0.69
0.69
0.27
1.41
na
0.28
0.02

16.0
11.2
14.4
360.6
na
na
9.9
8.7
13.2
42.2
17.5
16.3
na
18.2
10.3
11.8
271.9
14.8
13.4
8.7
11.5
33.5
27.0
24.7
10.9
na
21.2
113.7

2.3
1.8
0.7
0.6
1.3
na
1.2
2.1
3.0
1.0
1.5
0.9
na
1.2
1.2
0.9
0.9
1.4
1.1
1.2
0.8
1.6
1.3
0.9
2.2
0.6
0.6
2.6

25,658.93
4,034.88
2,436.48
3,522.42
1,614.88
67.41
1,848.00
469.31
330.19
5,659.50
19,949.21
2,106.80
211.75
1,044.88
2,556.54
1,270.37
2,218.97
2,000.00
594.00
1,084.62
1,600.00
1,744.39
669.81
820.75
1,707.65
983.32
933.60
1,440.00

na
2.91
1.44
2.59
2.74
na
4.53
4.53
na

67.69
na
60.5
58.9
40.6
41.3
na
7.8
5.3
na

1.06
2.3
1.0
1.0
2.3
3.4
0.6
0.8
0.6
2.2

1,285.67
14,449.02
8,373.76
682.50
734.50
1,295.50
1,580.36
154.28
1,162.52

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

LAND AND PROPERTY


C T LAND
CARGO BOAT
CEYLINCO HOUSING
CEYLINCO SEYLAN
COLOMBO LAND
COMMERCIAL DEVELOP.
EAST WEST
EQUITY ONE
EQUITY TWO
HUEJAY
KELSEY DEVELOPMENTS
ON'ALLY HOLDINGS
OVERSEAS REALTY
PROPERTY DEVELOPMENT
SERENDIB LAND
YORK ARCADE
INFRASTRUCTURE
TOUCHWOOD

CTLDN
CABON
CHOUN
CSD N
CLNDN
COMDN
EASTN
EQITN
ETWON
HUEJN
KDL N
ONALN
OSEAN
PDL N
SLNDN
YORKN
IDL N
TWODN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB

Year
End
M
M
M
M
D
D
M
M
M
M
M
M
D
D
M
M
M
M

26.10
88.00
13.90
9.00
33.60
65.60
13.90
31.50
26.50
70.10
15.20
52.50
14.10
45.90
1775.00
16.40
154.00
7.10

Price Performance
1W(%)
1M(%)
(0.59)
(1.81)
(5.78)
8.75
0.80
10.00
(5.44)
(6.71)
(2.17)
(4.26)
(2.86)
(10.50)
0.15
(2.11)
(6.08)
0.96
(2.78)
3.52
(1.49)
(5.91)
(6.53)
(3.87)
(4.49)
(0.94)
(4.89)
(1.40)
6.00
3.61
10.94
1.23
(3.53)
(6.61)
(8.33)
(9.09)
(21.35)

ASIA RESEARCH TEAM

1Q(%)
(2.15)
6.53
(10.11)
(13.13)
(4.26)
1.49
(9.02)
(9.74)
(4.55)
5.58
(12.27)
(12.35)
(6.25)
(4.38)
10.94
(4.09)
13.40
(54.84)

Shares
Mn
48.75
10.20
13.38
147.96
199.88
12.00
138.24
40.32
31.00
1.80
17.43
17.50
843.48
66.00
0.36
12.00
6.48
106.91

Trailing
ROE
10.28%
10.99%
12.28%
46.91%
0.44%
na
31.32%
0.41%
5.85%
7.10%
na
na
4.78%
13.50%
15.26%
14.86%
14.40%
0.18
0.13

BVPS

49.62
74.74
13.27
30.28
18.22
85.15
9.61
38.75
17.77
na
4.69
65.36
23.48
32.16
642.34
9.89
21.78
29.39

Net Profit
4Qtrs
4,391.72
265.73
93.58
83.31
19.93
(19.30)
320.07
5.39
91.45
39.11
(4.72)
(36.92)
54.73
2,674.92
324.02
34.37
17.09
25.27
403.68

Sep'12
685.54
38.52
27.20
31.77
26.80
(5.10)
17.89
18.58
6.91
(0.09)
1.00
(9.95)
17.48
273.58
87.96
2.79
2.65
22.26
125.30

Net
Jun'12
271.68
39.19
24.39
25.67
23.25
(8.60)
3.94
(6.15)
6.63
0.17
(1.20)
(20.32)
18.23
94.27
66.70
2.21
3.31

Profits
Mar'12
748.89
154.43
12.60
6.07
25.09
(1.80)
13.03
(2.37)
69.80
38.33
(2.93)
(2.13)
5.10
40.33
76.51
28.24
7.20
3.02
278.38

Dec'11
2,685.61
33.60
29.39
19.80
(55.20)
(3.81)
285.20
(4.67)
8.12
0.70
(1.59)
(4.51)
13.92
2,266.75
92.85
1.13
3.93

19

Trailing
EPS
5.45
9.17
6.23
0.13
na
26.67
0.04
2.27
1.26
na
na
3.13
3.17
4.91
95.46
1.42
3.90
3.78

Trailing
PE
8.01
4.8
9.6
2.2
66.8
na
2.5
356.6
13.9
21.0
na
na
16.8
4.4
9.3
18.6
11.5
39.47
1.88

PBV

Mkt Cap Mn

0.82
0.5
1.2
1.0
0.3
1.8
0.8
1.4
0.8
1.5
na
3.2
0.8
0.6
1.4
2.8
1.7
7.1
0.2

1,272.38
897.60
185.98
1,331.68
6,716.00
787.20
1,921.54
1,270.13
821.50
126.18
264.92
918.79
11,893.13
3,029.40
639.00
196.80
997.40
759.03

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

MANUFACTURING
ABANS
ACL CABLES
ACL PLASTICS
ACME
ALUFAB
BLUE DIAMONDS [V]
BLUE DIAMONDS [NV]
BOGALA GRAPHITE
CENTRAL INDUSTRIES
GRAIN ELEVATORS
CHEVRON LUBRICANTS
DANKOTUWA
DIPPED PRODUCTS
HAYLEYS FIBRE
KELANI CABLES
KELANI TYRES
LANKA ALUMINIUM
LANKA CEMENT
LANKA CERAMIC
LANKA FLOORTILES
LANKA WALLTILES
LAXAPANA
SWISSTEK (CEYLON) PLC
PELWATTE SUGAR
PIRAMAL GLASS
PRINT CARE
REGNIS
RICH PIERIS EXPORTS
ROYAL CERAMICS
SAMSON INTERNATIONAL
SINGER INDUSTRIES
SWADESHI
TOKYO CEMENT [V]
TOKYO CEMENT [NV]
SIERRA CABLES
TEXTURED JERSEY
AGSTAR FERTILIZERS LIMITED
AGSTAR FERTILIZERS LIMITED
ORIENT GARMENTS

ABANN
ACL N
APLAN
ACMEN
ALUFN
BLUEN
BLUEX
BOGAN
CINDN
GRANN
LLUBN
DPL N
DIPDN
HEXPN
KCABN
TYREN
LALUN
LCEMN
CERAN
TILEN
LWL N
LITEN
PARQN
SUGAN
GLASN
CAREN
REG N
REXPN
RCL N
SIL N
SININ
SWADN
TKYON
TKYOX
SIRAN
TJL N
AGSTN
AGSTX
OGL N

MainB
MainB
MainB
MainB
DefaltB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB

Year
End
M
M
M
M
M
M
M
D
M
D
D
D
M
M
M
M
M
D
M
M
M
M
M
M
M
M
D
M
M
M
D
M
M
M
M
M
M
M
M

96.40
67.00
100.00
13.90
20.00
3.80
1.70
24.00
66.10
50.00
217.50
16.90
114.00
33.60
69.70
33.50
34.00
9.10
66.50
66.00
58.10
5.90
14.60
23.50
6.20
29.50
61.00
34.00
100.00
90.00
135.00
8200.00
25.00
18.50
2.40
10.20
5.90
15.00
11.00

Price Performance
1W(%)
1M(%)
(1.26)
0.22
(0.41)
(0.72)
(7.71)
5.26
9.65
2.21
(6.08)
(1.96)
(7.83)
(2.63)
(7.50)
(5.51)
(1.05)
(1.05)
(4.94)
(9.58)
(2.25)
(0.64)
(1.17)
1.81
(0.87)
8.57
12.67
9.39
2.35
(1.83)
0.90
(4.01)
4.29
(5.56)
(1.10)
(3.23)
(1.04)
0.76
(0.60)
1.54
(3.17)
(4.75)
(4.84)
(14.49)
(1.35)
5.80
1.64
3.33
(6.35)
(1.99)
1.67
4.99
(3.68)
(2.86)
0.40
4.06
(7.79)
10.70
1.05
(3.57)
(3.85)
(4.21)
(0.54)
(2.12)
(4.17)
(8.00)
0.99
13.33
(4.84)
(1.67)
(5.17)
(17.91)

ASIA RESEARCH TEAM

1Q(%)
3.01
0.84
(1.47)
(0.10)
(0.71)
(12.66)
(13.95)
(11.11)
(0.30)
(12.13)
12.64
(5.06)
9.72
14.19
(0.43)
(4.83)
(5.56)
(7.22)
4.23
1.54
(3.49)
(15.71)
3.55
(1.99)
(4.84)
(3.95)
5.16
18.42
(9.82)
(7.41)
(1.60)
(11.54)
17.24
(9.23)
(27.63)

Shares
Mn
4.26
59.89
4.21
25.61
12.06
103.30
153.37
47.32
9.88
60.00
120.00
72.25
59.86
8.00
21.80
80.40
13.70
173.51
30.00
53.05
54.60
39.00
27.37
67.98
950.09
85.97
11.27
11.16
110.79
3.85
3.85
0.13
202.50
101.25
537.51
655.00
307.53
17.47
54.92

Trailing
ROE
17.08%
18.70%
9.47%
9.76%
na
0.60%
na
na
20.44%
12.41%
14.56%
54.83%
4.63%
16.06%
4.72%
13.53%
27.70%
3.53%
na
16.15%
23.95%
17.19%
na
5.58%
na
21.94%
21.67%
13.36%
418.12%
22.71%
16.36%
0.83%
8.98%
9.28%
9.28%
na
13.11%
13.81%
13.81%
6.97%

BVPS

112.90
87.32
136.90
19.71
21.36
1.16
1.16
4.30
90.93
48.75
34.62
10.61
95.48
43.65
93.01
18.95
43.21
na
84.16
53.13
75.06
3.60
21.17
na
3.44
14.24
51.54
2.80
69.64
97.97
207.24
819.37
19.92
19.92
3.29
8.55
6.64
116.93
11.87

Net Profit
4Qtrs
11,414.25
89.91
495.11
56.28
(43.49)
1.53
(45.82)
(45.82)
41.62
111.57
425.89
2,277.70
35.49
917.70
16.48
274.35
422.04
20.90
(16.48)
407.75
675.09
704.44
(96.59)
32.31
na
716.80
265.23
77.57
130.68
1,752.25
61.66
6.62
9.62
561.29
561.29
(33.51)
734.57
282.24
282.24
45.45

Sep'12
2,829.13
50.92
81.21
1.28
(25.48)
0.24
0.24
16.88
30.98
(34.78)
521.99
31.20
345.02
6.92
57.21
130.24
(6.86)
(4.22)
90.02
159.02
151.07
(40.30)
2.09
265.13
60.27
7.44
51.63
420.40
13.74
0.56
(3.24)
175.57
175.57
(8.75)
156.7
125.04
125.04
(23.20)

Net
Jun'12
2,253.83
8.04
118.11
26.77
(13.30)
3.06
(21.41)
(21.41)
27.99
21.22
395.95
533.17
23.67
285.68
7.21
60.82
81.06
13.76
(4.50)
(16.65)
54.00
(15.79)
(4.76)
(17.71)

Profits
Mar'12
3,458.80
25.14
193.97
22.04
35.55
4.97
(0.85)
(0.85)
(15.02)
34.73
0.58
661.10
(3.44)
136.35
9.36
107.88
123.73
13.92
(4.93)
193.52
321.62
387.08
(41.84)
39.41

148.94
70.28
18.03
36.29
260.77
12.76
1.87
(14.07)
(19.99)
(19.99)
0.63
171.94

97.76
67.34
38.73
27.23
475.37
29.92
2.93
13.42
130.24
130.24
(44.86)
218.66
157.20
157.20
68.65

Dec'11
2,836.32
5.81
101.83
6.19
(40.27)
2.78
(23.79)
(23.79)
11.76
24.65
64.14
561.44
(15.94)
150.65
(7.00)
48.45
87.02
0.08
(2.83)
140.86
140.45
182.07
(9.69)
8.52
204.97
67.34
13.37
15.54
595.71
5.24
1.27
13.51
275.47
275.47
19.46
187.27

20

Trailing
EPS
21.11
8.27
13.36
na
0.13
na
na
0.88
11.29
7.10
18.98
0.49
15.33
2.06
12.59
5.25
1.53
na
13.59
12.73
12.90
na
1.18
na
0.75
3.09
6.88
11.71
15.82
16.02
1.72
0.05
1.85
1.85
na
1.12
0.92
16.15
0.83

Trailing
PE
8.98
4.6
8.1
7.5
na
157.4
na
na
27.3
5.9
7.0
11.5
34.4
7.4
16.3
5.5
6.4
22.3
na
4.9
5.2
4.5
na
12.4
na
8.2
9.6
8.9
2.9
6.3
5.6
78.4
172760.0
13.5
10.0
na
9.1
6.4
0.9
13.3

PBV

Mkt Cap Mn

1.53
0.9
0.8
0.7
0.7
0.9
3.3
1.5
5.6
0.7
1.0
6.3
1.6
1.2
0.8
0.7
1.8
0.8
na
0.8
1.2
0.8
1.6
0.7
na
1.8
2.1
1.2
12.1
1.4
0.9
0.7
10.0
1.3
0.9
0.7
1.2
0.9
0.1
0.9

410.55
4,012.88
421.25
356.02
241.16
392.54
260.73
1,135.59
653.35
3,000.00
26,100.00
1,220.95
6,824.21
268.80
1,519.46
2,693.40
465.90
1,578.95
1,995.00
3,501.33
3,172.26
230.10
399.63
1,597.46
5,890.53
2,536.02
687.34
379.57
11,078.94
346.32
519.25
1,071.46
5,062.50
1,873.13
1,290.03
6,681.02
1,814.41
262.11
604.08

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

Year
End

Price Performance
1W(%)
1M(%)
(0.24)
3.25
10.85
(2.29)
(4.87)
0.02
(1.57)
(1.06)
9.93
8.70
8.70
(1.03)
0.52

ASIA RESEARCH TEAM

1Q(%)
(0.12)
15.12
(17.40)
(9.90)
3.69
32.14
1.05

Shares
Mn
1.20
10.64
8.88
3.62
6.03
67.27

Trailing
ROE
31.17%
5.69%
39.30%
20.94%
39.57%
24.73%
39.71%

BVPS

477.39
249.16
863.75
649.34
106.56
97.37

Net Profit
4Qtrs
6,370.06
32.61
1,041.82
1,605.52
930.34
159.01
2,600.77

Sep'12
562.72
12.18
51.28
113.23
24.14
40.79
321.10

Net
Jun'12
1,810.28
4.38
130.55
352.36
317.09
37.12
968.78

Profits
Mar'12
2,104.52
6.65
659.81
427.34
280.11
42.31
688.30

Dec'11
1,892.54
9.40
200.18
712.59
309.00
38.79
622.59

MOTORS
AUTODROME
COLONIAL MOTORS
DIMO
LANKA ASHOK
SATHOSA MOTORS
UNITED MOTORS

AUTON
COLON
DIMON
ASHON
SMOTN
UML N

MainB
MainB
MainB
MainB
MainB
MainB

M
M
M
M
M
M

897.90
140.50
595.10
1870.00
250.00
97.80

OIL PALMS
BUKIT DARAH
GOOD HOPE
INDO MALAY
SELINSING
SHALIMAR

BUKIN
GOODN
INDON
SELIN
SHALN

MainB
MainB
MainB
MainB
MainB

M
M
M
M
M

730.00
1350.00
1370.00
1000.20
804.00

1.05
1.38
0.74
0.45

3.63
6.54
5.38
(9.01)
(10.67)

3.68
7.34
12.50
(3.59)
(9.40)
(18.79)

102.00
6.87
7.00
6.94
6.94

7.39%
10.00%
4.27%
3.23%
4.94%
3.92%

285.72
794.60
770.02
975.01
820.73

3,877.75
2,913.11
232.89
174.25
334.29
223.21

1,001.86
832.97
34.69
31.80
63.85
38.56

685.30
353.77
72.40
73.48
105.66
79.99

1,914.06
1,561.69
110.09
41.40
126.38
74.50

276.53
164.69
15.70
27.58
38.39
30.17

PLANTATIONS
AGALAWATTE
BALANGODA
BOGAWANTALAWA
HAPUGASTENNE
Horana Plantations
KAHAWATTE
KEGALLE
KELANI VALLEY
KOTAGALA
MADULSIMA
MALWATTE VALLEY
MALWATTE VALLEY
MASKELIYA
NAMUNUKULA
TALAWAKELLE
UDAPUSSELLAWA
WATAWALA PLANTATIONS
ELPITIYA
MET.RES.HOL

AGALN
BALAN
BOPLN
HAPUN
HOPLN
KAHAN
KGALN
KVALN
KOTAN
MADUN
MAL N
MALX
MASKN
NAMUN
TPL N
UDPLN
WATAN
ELPLN
MPRHN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

D
D
M
D
M
D
M
D
M
D
D
D
M
M
D
D
M
M
M

32.50
37.30
13.00
36.20
27.40
32.90
108.60
85.00
56.00
13.50
4.60
4.50
13.10
77.00
26.00
28.60
12.10
18.60
25.20

(0.59)
3.50
(2.86)
1.56
(4.99)
4.31
(3.52)
0.65
(1.16)
1.81
2.27
(4.17)
(4.26)
(2.96)
(1.74)
1.96
(0.82)
3.33
7.69

(2.88)
(1.06)
0.78
(5.97)
5.98
(6.00)
4.32
1.07
(25.07)
(10.60)
(8.00)
2.27
0.77
(2.13)
(2.26)
2.88
1.68
3.33
8.62

(1.56)
(6.34)
(2.61)
13.04
(12.14)
6.83
16.67
4.12
4.94
(18.43)
(22.41)
(6.12)
3.15
(13.83)
(7.44)
(0.82)
(1.59)
17.76

25.00
23.64
83.75
46.32
25.00
79.89
25.00
34.00
32.00
29.00
224.59
23.00
53.95
23.75
23.75
19.40
236.67
72.87
17.26

14.43%
21.77%
5.37%
1.62%
na
12.78%
7.83%
21.24%
24.09%
21.22%
na
6.56%
6.56%
16.74%
22.24%
11.01%
na
24.87%
14.59%
1.73%

40.16
62.32
10.00
27.15
42.91
13.81
126.77
70.06
81.87
57.02
8.65
8.65
22.92
73.18
45.26
15.97
13.07
22.38
35.53

4,100.58
218.61
79.16
13.53
(80.97)
137.06
86.34
673.02
573.79
556.02
(4.23)
140.42
140.42
207.04
386.43
118.37
(21.82)
769.28
237.94
10.61

1,429.60
160.60
(12.17)
88.90
13.43
41.06
13.20
155.61
173.22
107.80
(42.92)
94.02
94.02
21.51
103.40
35.16
0.70
186.23
197.00
92.84

1,039.50
(1.16)
73.87
49.14
52.29
11.54
29.26
122.68
128.20
104.76
26.51
114.84
114.84
34.22
72.29
26.62
37.14
157.32

1,209.99
30.87
67.25
(96.44)
25.75
50.79
30.96
246.28
85.57
204.10
(57.18)
101.34
101.34
165.87
105.01
6.81
16.60
267.69
40.94
(82.23)

421.50
28.29
(49.80)
(28.08)
(172.44)
33.67
12.92
148.46
186.81
139.36
69.37
(169.78)
(169.78)
(14.56)
105.74
49.77
(76.26)
158.03

HEALTH SERVICES
ASIRI CENTRAL
ASIRI SURGICAL
ASIRI HOSPITAL
CEYLON HOSPITALS [V]
CEYLON HOSPITALS [NV]
LANKA HOSPITALS
NAWALOKA

M
M
M
M
M
M
M

240.00
9.00
12.30
101.00
72.00
38.00
3.10

0.41
(3.26)
(2.17)
5.13
6.20
1.41
(2.56)
(3.23)

2.15
9.09
7.89
1.00
(0.69)
(4.04)
(6.25)

22.33
528.46
1,099.09
25.53
8.35
223.73
1,409.51

11.97%
na
16.56%
11.39%
11.49%
11.49%
13.69%
16.18%

88.10
7.43
3.92
72.7
72.7
15.72
2.43

2,349.78
(112.22)
650.23
490.03
286.84
286.84
481.52
553.38

510.06
(38.10)
104.26
112.21
49.92
49.92
94.57
187.20

400.01
(74.11)
111.95
84.55
102.55
102.55
84.46
90.62

862.05

DiriSaviB
MainB
MainB
MainB
MainB
MainB
MainB

0.67
4.35
6.32
(0.14)
0.26
(3.23)

577.66

ASHAN
AMSLN
ASIRN
CHL N
CHL X
LHCLN
NHL N

110.65
176.23
80.08
80.08
112.65
98.04

323.37
117.03
54.29
54.29
189.84
177.51

21

Trailing
EPS

PBV

Mkt Cap Mn

27.17
97.92
180.87
256.94
26.35
38.66

Trailing
PE
3.57
33.0
1.4
3.3
7.3
9.5
2.5

1.11
1.9
0.6
0.7
2.9
2.3
1.0

1,077.48
1,494.92
5,282.37
6,770.98
1,508.41
6,578.72

28.56
33.89
24.90
48.17
32.16

27.3
25.6
39.8
55.0
20.8
25.0

2.0
2.6
1.7
1.8
1.0
1.0

74,460.00
9,276.26
9,587.81
6,941.47
5,579.82

8.74
3.35
0.16
na
5.48
1.08
26.92
16.88
17.38
na
0.57
0.57
3.84
16.27
4.98
na
3.25
3.27
0.61

6.1
3.7
11.1
80.5
na
5.0
30.4
4.0
5.0
3.2
na
8.1
7.9
3.4
4.7
5.2
na
3.7
5.7
41.0

0.88
0.8
0.6
1.3
1.3
0.6
2.4
0.9
1.2
0.7
0.2
0.5
0.5
0.6
1.1
0.6
1.8
0.9
0.8
0.7

812.50
881.64
1,088.75
1,676.63
685.00
2,628.37
2,715.00
2,890.00
1,792.00
391.50
1,033.11
103.50
706.79
1,828.75
617.50
554.81
2,863.67
1,355.32
435.07

na
1.23
0.45
8.47
8.47
2.15
0.39

16.9
na
7.3
27.6
11.9
8.5
17.7
7.9

2.02
2.7
1.2
3.1
1.4
1.0
2.4
1.3

5,360.15
4,756.12
13,518.84
2,578.25
600.87
8,501.82
4,369.47

15th February 2013

Sri Lanka Focus

Broad Market
Guide
Company

Year
End

Price Performance
1W(%)
1M(%)
(0.93)
(0.76)
(0.15)
9.49
8.90
(0.95)
(0.54)
(6.75)
(17.42)
(36.00)
(1.69)
(3.21)
(17.41)
1.92
(8.62)
(7.50)
(21.28)

ASIA RESEARCH TEAM

1Q(%)
(11.82)
1.98
22.35
0.93
(33.91)
(9.79)
(43.35)
(14.52)
(46.38)

Shares
Mn
60.80
2.94
2.84
0.04
0.05
0.10
114.00
260.00

Trailing
ROE
26.54%
34.20%
9.86%
na
na
1.63%
na
19.34%
34.25%

BVPS

41.29
49.99
69.07
271.92
663.80
62.58
1.81
0.63

Net Profit
4Qtrs
868.59
858.59
14.48
(99.16)
(1.20)
0.54
(0.56)
39.96
55.95

Sep'12
85.64
78.67
3.84
(39.85)
(1.05)
1.20
0.12
8.50
34.21

Net
Jun'12
26.82
55.55
4.40
(49.20)
1.27
0.68
0.13
13.99

Profits
Mar'12
699.10
663.49
2.23
1.80
(4.56)
(1.97)
(1.10)
17.47
21.74

Dec'11
57.03
60.88
4.01
(11.92)
3.14
0.63
0.29

22

Trailing
EPS

PBV

Mkt Cap Mn

14.12
4.93
na
na
10.80
na
0.35
0.22

Trailing
PE
7.72
4.7
21.1
na
na
200.5
na
15.1
17.2

2.05
1.6
2.1
2.7
4.7
3.3
14.4
2.9
5.9

4,067.52
305.47
522.62
44.81
108.25
90.11
604.20
962.00

82.20
128.21
9.90
6.49

10.91
6.1
7.8
21.2
49.3

0.93
0.7
1.0
6.2
0.7

636.43
2,535.46
478.41
1,646.40

12.67
8.28
0.02
0.53
0.57
na
10.17
61.18
na

11.86
9.5
8.0
339.7
19.7
30.4
na
9.8
46.6
na

1.03
0.6
1.4
0.9
1.1
0.7
5.5
2.6
6.1
1.4

8,575.88
2,386.04
813.14
1,221.44
6,078.99
139.20
12,533.48
237.56
432.00

1.78
3.83
0.07
0.28
2.50
2.50
na
0.12
0.72

9.28
12.4
5.5
51.3
22.2
10.4
7.6
na
22.3
15.2

1.29
1.0
1.0
1.6
82.6
1.6
1.2
0.9
1.8
1.7

2,754.40
11,183.13
1,765.90
4,632.08
8,710.00
982.80
676.35
1,350.00
1,100.00

74
146.1
53.2

1.39
6.6
0.9

891.56
1,144.67

14.03
11.2
18.7

1.70
2.1
1.4

77,365.89
77,608.98

SERVICES
JOHN KEELLS LIMITED
LAKE HOUSE PRINTING
MERC. SHIPPINGS
CEYLON PRINTERS
KALAMAZOO
PARAGON
CEYLON TEA BROKERS
ASIA SIYAKA COMMODITIES

JKL N
LPRTN
MSL N
CPRTN
KZOON
PARAN
CTBLN
ASIYN

MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
M

66.90
104.00
183.70
1280.00
2165.00
900.80
5.30
3.70

STORES AND SUPPLIES


COLOMBO PHARMACY
E B CREASY
GESTETNER
HUNTERS

PHARN
EBCRN
GESTN
HUNTN

MainB
MainB
MainB
MainB

M
M
M
M

500.00
1000.00
210.00
320.00

(1.13)
(2.17)
(1.14)
(2.44)

(1.60)
(5.70)
(1.25)
(9.17)
1.91

(15.30)
(12.36)
(17.01)
(16.67)
(13.28)

1.27
2.54
2.28
5.15

8.54%
11.52%
13.45%
29.32%
1.46%

713.42
953.56
33.77
444.31

485.64
104.62
325.07
22.56
33.38

54.70
20.02
30.70
2.04
1.94

(58.55)
(3.33)
(34.00)
1.04
(22.26)

228.86
90.70
118.37
2.65
17.14

260.64
(2.77)
210.00
16.84
36.56

TRADING
BROWNS
C W MACKIE
CEYLON FOREIGN TRADES
EASTERN MERCHANTS
ENVIRONMENTAL RESOURCES
RADIANT GEMS
SINGER SRI LANKA
OFFICE EQUIPMENT
TESS AGRO

BRWNN
CWMN
CFT N
EMERN
GREGN
RGEMN
SINSN
OFEQN
TESSN

MainB
MainB
MainB
DefaultB
MainB
MainB
MainB
MainB
DiriSaviB

M
D
M
M
M
M
D
M
M

121.00
66.30
5.80
10.40
17.40
58.00
100.10
2850.00
2.40

(2.29)
(0.41)
(1.04)
0.97
(1.69)
(1.53)
(4.11)
(5.00)
(4.17)

(0.72)
(0.73)
(12.19)
(3.33)
(8.77)
12.26
(3.33)
3.30
(5.00)
(8.00)

(3.74)
(4.88)
(10.16)
(7.94)
(7.96)
5.45
(17.26)
(0.20)
(16.18)
(8.00)

70.88
35.99
140.20
117.45
349.37
2.40
125.21
0.08
180.00

8.66%
6.27%
17.36%
0.27%
5.54%
2.39%
na
26.38%
13.08%
na

202.00
47.69
6.24
9.54
23.96
10.62
38.56
467.91
1.67

2,734.33
898.02
297.92
2.39
62.06
200.07
(2.20)
1,273.69
5.10
(2.74)

294.12
190.84
11.59
6.83
(16.69)
(80.65)
(0.06)
194.17
(2.77)
(9.14)

300.32
(219.96)
85.92
(3.25)
39.55
83.85
0.34
310.05
3.81

1,503.59
752.25
106.85
(4.40)
67.80
243.26
(1.51)
337.87
(4.93)
6.40

636.30
174.89
93.56
3.21
(28.60)
(46.39)
(0.97)
431.60
8.99

POWER & ENERGY


HEMAS POWER
LANKA IOC
VIDULLANKA
VALLIBEL POWER
LAUGFS GAS
LAUGFS GAS [NV]
HYDRO POWER
PANASIAN POWER
MACKWOODS ENERGY LIMITED

HPWRN
LIOCN
VLL N
VPELN
LGL N
LGL X
HPFLN
PAP N
MEL N

MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M

22.00
21.00
3.70
6.20
26.00
18.90
6.20
2.70
11.00

(0.39)
(4.35)
5.00
(3.13)
(2.62)
2.17
(13.04)
(4.35)

(0.50)
(9.09)
6.60
(2.63)
(4.62)
(13.04)
(10.00)
(5.17)

3.56
4.76
9.95
2.78
(4.62)
3.17
7.43
(20.00)
8.00
(5.17)

125.20
532.53
477.27
747.11
335.00
52.00
109.09
500.00
100.00

13.86%
8.01%
17.74%
3.17%
371.84%
15.46%
15.46%
na
8.22%
10.96%

22.21
21.58
2.28
0.08
16.16
16.16
7.14
1.47
6.60

3,573.26
222.81
2,039.19
34.42
208.43
966.66
966.66
(31.25)
60.60
72.40

1,842.14
81.00
1,183.00
6.13
112.97
427.45
427.45
(1.80)
2.09
31.30

299.56
39.33
191.86
8.40
56.05

583.76
24.17
41.24
(27.63)
(15.61)
539.21
539.21
(25.85)
7.13
41.10

850.93
81.45
623.09
47.52
55.01

INFORMATION TECHNOLOGY
E-CHANNELLING
PC HOUSE

7.30
5.00

2.81
19.67
(7.55)

(2.80)
23.73
(16.95)

122.13
228.93

1.89%
4.55%
1.62%

1.10
5.79

27.61
6.10
21.51

(2.35)
2.87
(5.22)

1.79

(25.82)
3.23
(29.05)

53.99

DiriSaviB M
MainB
M

0.62
1.39
-

1.79

ECL N
PCH N

53.99

0.05
0.09

TELECOMMUNICATIONS
DIALOG TELEKOM
SRI LANKA TELECOM

DIALN
SLTLN

MainB
MainB

9.50
43.00

1.18
4.40
(1.83)

4.27
14.46
(4.23)

7.73
15.85
0.70

8,143.78
1,804.86

12.11%
19.03%
7.55%

4.45
30.45

11,048.50
6,900.50
4,148.00

6,545.20
4,744.20
1,801.00

1,965.01
1,269.01
696.00

(165.91)
(530.91)
365.00

2,704.20
1,418.20
1,286.00

0.85
2.30

D
D

Note:
Counters which are listed on Dirisavi board will reflect 6 months results under
the quarters.

(7.68)
11.60

4.08
39.78

Research
Manager - Research
Balakrishnan Nirmalan

Assistant Manager - Research


(94-11)5320362
nirmalan@asiacapital.lk

AmaliPerera

Corporates

(94-11)5320256
amali@asiacapital.lk

Economy

Minoli Mallawaarachchi
Shan Silva
Yogini Yogarasa

(94-11)5320259
(94-11)5320251
(94-11)5320361

DhanushaPathirana
Travis Gomez

(94-11)5320254
(94-11)5320254

Statistician
Nuwan Pradeep

(94-11)5320257

Sales
Institutional Sales

Retail Sales

SabriMarikar

(94-11) 5320224

077 3-576868 sabri@asiacapital.lk

ShiyamSubaulla

(94-11)5320218

0773-502016

shiyam@asiacapital.lk

NiroshanWijayakoon

(94-11) 5320208

0777-713645

niroshan@asiacapital.lk

PriyanthaHingurage

(94-11)5320217

0773-502015

priyantha@asiacapital.lk

NiyazAboobucker

(94-11) 5320213

0777-727352

niyaz@asiacapital.lk

SubeethPerera

(94-11)5320227

0714-042683

subeeth@asiacapital.lk

ManjulaKumarasinghe

(94-11) 5320211

0777 -874310 manjula@asiacapital.lk

NelukaRodrigo

(94-11)5320214

0777-366280

neluka@asiacapital.lk

ChelakaHapugoda

(94-11)5320240

0777 -256740 chelaka@asiacapital.lk

GaganiJayawardhana

(94-11)5320236

0714-084953

gagani@asiacapital.lk

ChamindaMahanama

(94-11) 5320223

0777 -556582 mahanama@asiacapital.lk

ShamalPerera

(94-11)5320219

077-3717558

shamal@asaiacapital.lk

HiranBibile

(94-11) 5320238

0777 -352032 hiran@asiacapital.lk

NuwanEranga

(94-11)5320246 0777368012

eranga@asiacapital.lk

ArshwinAmarasekara

(94-11) 5320215

0773 -717220 arshwin@asiacapital.lk

RomeshPriyadarshana

(94-11)5320228 0772548795

priyadarshana@asiacapital.lk

NiroshanRathnam
JeevanHettigoda
FarajFouz
MiflalFarook

(94-11) 5320242
(94-11) 5320220
(94-11) 5320210
(94-11) 5320247

0773 -717515
0773 -691251
0773 -810159
0772-253730

RukshanLiyanage
NathashaMunasinghe
IreshaFernando
SharikaRathnayake

(94-11)5320235
(94-11)5320231
(94-11)5320232
(94-11)5320209

rukshan@asiacapital.lk
nathasha@asiacapital.lk
iresha@asiacapital.lk
sharika@asiacapital.lk

ratnam@asiacapital.lk
jeevan@asiacapital.lk
faraj@asiacapital.lk
miflal@asiacapital.lk

077-3413297
0777-569266
0777359012
0777567994

Branches
CSE Floor

CSE,01-04, World Trade Centre, Colombo 1.

ThusharaAdhikari
M G Suranjana

(011)-5735122
(011)-5763539

0773-688202
0773-954994

adhikari@asiacapital.lk

Kurunegala

Union Assurance Building, No.6,1stFloor,Rajapilla Rd, Kurunagala.

AsankaSamarakoon
GayanNishsanka

(037)-5628844
(037)-5642717

0773-690749
0777-105356

asanka@asiacapital.lk
nishshanka@asiacapital.lk

Matara

E.H.Cooray Building, Mezzanine Floor, No:24, AnagarikaDarmapala Mw,


Matara
Peoples Leasing Building,2nd Floor,No.118,Matara Road,Galle

(041)-5677525
(041)-5677526
(041)-5620727
(091)-5629998

0773-687307
0778-628798

Galle

SumedaJayawardena
LalindaLiyanapathirana
MaheshaMadurangi
RuchiraHasantha

0773-687027

sumeda@asiacapital.lk
rishan@asiacapital.lk
mahesha@asiacapital.lk
ruchira@asiacapital.lk

Negombo

Asia Asset Finance, 171/1, Station Road, Negombo.

UthpalaKarunatilake

(031)-5676881

0773-691685

uthpala@asiacapital.lk

Moratuwa

Asia Asset Finance, No.18, New De Zoysa Rd, Moratuwa.


CharithPerera

(011)-5238663

charithn@asiacapital.lk

Panadura

Asian Alliance Building, 293, Galle Road, Panadura

RanganathWijetunga
AsankaChaminda

(038)-5670400
(038)-5670407

0715-120723
0713-559552

ranganath@asiacapital.lk
chaminda@asiacapital.lk

Kandy

132 2/7, Hill City Complex,


D. S . Senanayake Street, Kandy.

NilupulHettiarachchi

(081)-5628500

0777410164

nilupul@asiacapital.lk

RadhikaHettiarachchi
TharinduPriyankara
Ravi De Mel
NalakaDhanushka

(081)-5625577
(081)-5625577
(063)-5679071
(063)-5679070

0773692242
0777282586
0772-681995
0771-520376

radhika@asiacapital.lk
priyankara@asiacapital.lk
ravide@asiacapital.lk
nalaka@asiacapital.lk

Ampara

Bandula Cinema Shopping complex, No-103,D S Senanayaka Street, Ampara.

Service Centers
Kiribathgoda

Level 2-6,Udeshi City Shopping complex, No 94,Makola Rd,Kiribathgoda

DanushkaBoteju
Kasun Navoda

(011)-5634803

0716-270527

boteju@asiacapital.lk

Hambantota

Hambanthota Chamber of Commerce, ThangalleRoad,Hambantota.

SherminRanasinghe
SamithEdirisinghe

(047)-5679240

0777681866
0775-486869

shermin@asiacapital.lk
samith@asiacapital.lk

Jaffna

62/20, First Floor, Stanley Road, Jaffna

GratianNirmalan
S.Puviraj

(021)-5671800
(021)-5671801

0777-567933
0775-096969

nirmal@asiacapital.lk
puviraj@asiacapital.lk

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