EARNINGS UPDATE

SEPTEMBER QUARTER - 2013

Tuesday, November 05, 2013
Company

FY-Q

Share
Price (LKR)

Quarter Earnings -LKR mn

Sector

Cumulative Earnings - LKR mn

12M H/L (LKR)

Sep-13

Sep-12

Change (%)

Sep-13

THE KINGSBURY PLC

Mar-2Q

14.0

H&T

17.9/9.8

HNB ASSURANCE PLC

Dec-3Q

52.0

BFI

57/46

50.2

54.9

(-9%)

155.0

COLOMBO CITY HOLDINGS PLC

Mar-2Q

525.0

S&S

690/426.1

0.2

20.0

(-99%)

EDEN HOTEL LANKA PLC

Mar-2Q

34.0

H&T

39/31.6

(-14.4)

25.9

ROYAL CERAMICS LANKA PLC

Mar-2Q

90.0

MFG

112/80

112.3

C T LAND DEVELOPMENT PLC

Mar-2Q

29.0

L&P

36/22

SUNSHINE HOLDINGS PLC

Mar-2Q

30.5

DIV

SEYLAN BANK PLC

Dec-3Q

65.3

HAYCARB PLC

Mar-2Q

ASSOCIATED MOTOR FINANCE

COMPANY PLC

26.7 (-106.0)

N/A

Sep-12

(-78.5) (-202.7)

Change
(%)

Qtr GP % /
Net Int. Margin
Sep-13

Sep-12

Sep-13
DPS (Last Div. Yield EV/EBITDA
Qtr EPS
FY-LKR) (Last FY)
(x)
(LKR)

D/(D+E)

NAVPS
(LKR)

P/BV TTM PER

(x)
(x)

61%

61.1%

N/A

0.1

0.0

0.0%

9.6

62%

6.5

2.2

N/A

139.9

11%

N/A

N/A

1.0

2.8

5.3%

N/A

N/A

37.6

1.4

7.1

(-4.1)

16.7

N/A

100.0%

15.1%

0.1

0.0

0.0%

85.7

5%

730.6

0.7

23.8

N/A

(-33.8)

40.6

N/A

75.1%

80.8%

(-0.3)

0.2

0.6%

240.0

17%

43.8

0.8

13.1

419.2

(-73%)

32.7

663.7

(-95%)

31.3%

48.0%

1.0

2.0

2.2%

5.5

60%

76.5

1.2

9.0

43.8

38.5

14%

86.7

81.1

7%

0.0%

0.0%

0.9

2.0

6.9%

5.6

0%

55.2

0.5

4.5

38.9/25.1

176.4

100.8

75%

241.7

282.9

(-15%)

25.8%

24.1%

1.3

0.5

1.6%

2.5

33%

31.9

1.0

6.9

BFI

74/54

535.2

647.2

(-17%)

1529.0

1608.5

(-5%)

5.2%

5.0%

3.0

2.0

3.1%

N/A

N/A

118.2

0.6

5.8

186.1

C&P

215/166

228.0

259.7

(-12%)

427.9

478.7

(-11%)

27.3%

20.6%

7.7

7.0

3.8%

4.7

41%

156.2

1.2

5.9

Mar-2Q

320.0

BFI

424/300

37.3

37.3

(-0%)

87.6

78.2

12%

20.0%

19.7%

6.7

10.0

3.1%

N/A

N/A

121.9

2.6

10.8

JOHN KEELLS PLC

Mar-2Q

76.0

SRV

92/60

(-16.3)

78.7

N/A

61.9

134.2

(-54%)

63.8%

68.1%

(-0.3)

3.5

4.6%

N/A

25%

51.1

1.5

6.9

TRANS ASIA HOTELS PLC

Mar-2Q

86.6

H&T

94.9/67.2

194.4

216.4

(-10%)

316.0

374.5

(-16%)

63.1%

64.9%

1.0

3.0

3.5%

16.4

2%

29.9

2.9

17.2

SEYLAN DEVELOPMENTS PLC

Dec-3Q

9.7

L&P

12.4/7.8

15.8

29.5

(-46%)

62.3

73.5

(-15%)

47.7%

58.5%

0.1

0.3

2.6%

26.0

0%

28.9

0.3

45.0

OVERSEAS REALTY (CEYLON)

PLC

Dec-3Q

18.0

C&E

21.3/13.2

748.4

731.4

2%

1651.8

1698.0

(-3%)

34.1%

60.0%

0.9

0.3

1.7%

5.2

8%

27.7

0.6

3.9

HAYLEYS FIBRE PLC

Mar-2Q

26.3

MFG

35/22

6.5

6.2

6%

15.2

12.6

20%

15.5%

14.0%

0.8

0.0

0.0%

5.4

15%

55.9

0.5

8.0

LANKA ASHOK LEYLAND PLC

Mar-2Q

1,450.1

MFG

2025/1404

57.5

51.0

13%

82.7

375.3

(-78%)

11.2%

4.0%

15.9

10.0

0.7%

10.4

53%

647.5

2.2

63.3

AMAYA LEISURE PLC

Mar-2Q

71.1

H&T

88/63

93.7

114.3

(-18%)

134.0

167.0

(-20%)

70.0%

75.5%

2.0

4.0

5.6%

7.5

5%

54.0

1.3

9.9

HUNAS FALLS HOTELS PLC

Mar-2Q

48.5

H&T

70/45.5

4.7

9.4

(-50%)

9.7

15.3

(-37%)

70.5%

74.3%

0.8

1.0

2.1%

7.6

2%

57.3

0.8

7.6

THE FORTRESS RESORTS PLC

Mar-2Q

14.2

H&T

19/13

36.1

30.4

19%

32.7

35.3

(-8%)

71.3%

75.5%

0.3

0.0

0.0%

7.5

23%

9.5

1.5

10.1

SOFTLOGIC FINANCE PLC

Mar-2Q

27.5

BFI

36.8/20.5

35.0

46.4

(-25%)

71.6

62.7

14%

10.2%

8.6%

0.9

1.5

5.5%

N/A

N/A

32.5

0.8

7.8

ORIENT FINANCE PLC

Mar-2Q

13.2

BFI

17.6/13.4

29.1

52.8

(-45%)

38.8

88.6

(-56%)

15.7%

11.8%

0.3

0.2

1.5%

N/A

N/A

7.1

1.9

12.9

CEYLON COLD STORES PLC

Mar-2Q

141.2

BFT

183/113

153.0

179.4

(-15%)

313.6

430.3

(-27%)

12.6%

13.5%

1.6

4.0

2.8%

8.5

14%

95.7

1.5

7.5

DIPPED PRODUCTS PLC

Mar-2Q

93.6

MFG

134/90

69.6

312.7

(-78%)

483.5

633.8

(-24%)

15.7%

19.8%

1.2

7.0

7.5%

5.6

36%

119.6

0.8

4.4

Company

FY-Q

Quarter Earnings -LKR mn

Share
Price (LKR)

Sector

Cumulative Earnings - LKR mn

12M H/L (LKR)

Sep-13

Sep-12

Change (%)

Sep-13

Sep-12

Change
(%)

Qtr GP % /
Net Int. Margin
Sep-13

Sep-12

Sep-13
DPS (Last Div. Yield EV/EBITDA
Qtr EPS
FY-LKR) (Last FY)
(x)
(LKR)

D/(D+E)

NAVPS
(LKR)

P/BV TTM PER

(x)
(x)

TEXTURED JERSEY LANKA PLC

Mar-2Q

15.7

MFG

16.1/8

263.4

156.7

68%

503.6

328.7

53%

10.7%

8.0%

0.4

1.2

7.9%

6.5

8%

9.4

1.7

8.6

WATAWALA PLANTATIONS PLC

Mar-2Q

10.4

PLT

14/9.2

87.2

188.3

(-54%)

98.6

306.9

(-68%)

15.8%

21.2%

0.4

0.8

7.2%

3.6

12%

16.4

0.6

4.8

ASIAN HOTELS & PROPERTIES

PLC

Mar-2Q

70.3

H&T

85/62

567.1

565.4

0%

960.2

972.1

(-1%)

62.3%

63.3%

1.3

4.0

5.7%

10.0

1%

48.2

1.5

12.6

ARPICO FINANCE COMPANY PLC

Mar-2Q

105.0

BFI

112/66.6

27.9

12.6

N/A

29.7

9.5

N/A

9.6%

11.1%

6.3

2.0

1.9%

N/A

N/A

109.8

1.0

6.6

LANKA CERAMIC PLC

Mar-2Q

115.6

MFG

130/55

105.0

92.0

14%

60.3

75.4

(-20%)

24.9%

24.0%

3.5

0.0

0.0%

3.4

67%

92.2

1.3

12.1

THE LANKA HOSPITAL

CORPORATION PLC

Dec-3Q

42.6

HTL

45.9/33

122.2

94.6

29%

465.1

285.2

63%

57.3%

54.3%

0.5

0.5

1.2%

14.3

4%

17.8

2.4

16.9

THE LIGHTHOUSE HOTEL PLC

Mar-2Q

42.5

H&T

55/41

8.3

12.1

(-32%)

0.3

26.5

(-99%)

74.8%

75.5%

0.2

2.0

4.7%

12.4

3%

50.3

0.8

22.7

TALAWAKELLE TEA ESTATES PLC

Dec-3Q

22.9

PLT

29/16.3

18.7

11.3

66%

101.1

60.6

67%

9.3%

10.5%

0.8

2.5

10.9%

2.9

28%

57.6

0.4

2.1

Dec-3Q

15.8

BFI

23.9/12.1

(-60.8)

67.7

N/A

(-54.7)

81.2

N/A

6.3%

6.8%

(-0.5)

0.5

3.2%

N/A

N/A

20.7

0.8

N/A

Mar-2Q

42.5

BFI

54.9/38

136.0

135.0

1%

271.0

238.8

13%

9.0%

9.5%

2.9

2.8

6.5%

N/A

N/A

70.6

0.6

3.4

PIRAMAL GLASS CEYLON PLC

Mar-2Q

5.1

MFG

7/5

18.7

267.8

(-93%)

376.8

411.8

(-9%)

13.5%

32.0%

0.0

0.4

7.5%

9.7

39%

3.6

1.4

7.0

THE AUTODROME PLC

Mar-2Q

990.6

MTR

1025/406

4.0

12.2

(-67%)

11.2

16.5

(-32%)

20.1%

21.1%

3.3

3.0

0.3%

37.8

0%

764.2

1.3

46.3

RAMBODA FALLS PLC

Mar-2Q

14.0

H&T

23/11.5

2.7

N/A

N/A

3.5

6.3

(-45%)

68.6%

63.2%

N/A

0.5

3.6%

8.4

7%

13.1

1.1

17.2

THE HOUSING DEVELOPMENT

FINANCE

Dec-3Q

30.5

BFI

58.8/27.5

108.5

0.0

N/A

158.9

10.3

N/A

4.7%

4.1%

1.7

0.0

0.0%

N/A

N/A

39.4

0.8

13.1

LB FINANCE PLC

Mar-2Q

105.9

BFI

158/102

290.3

368.6

(-21%)

518.3

743.2

(-30%)

1.4%

2.6%

4.2

6.5

6.1%

N/A

N/A

77.8

1.4

5.1

CHEVRON LUBRICANTS LANKA

PLC

Dec-3Q

267.0

MFG

375/184

609.4

522.0

17%

1941.8

1716.3

13%

36.8%

31.0%

5.1

11.0

4.1%

9.4

0%

44.6

6.0

12.7

ON'ALLY HOLDINGS PLC

Mar-2Q

47.2

L&P

60/36.2

19.5

17.3

13%

39.4

35.4

11%

0.0%

N/A

1.1

2.5

5.3%

12.5

0%

60.9

0.8

11.8

SWISSTEK (CEYLON) PLC

Mar-2Q

18.0

MFG

19.4/11

14.3

2.1

N/A

13.2

(-15.6)

N/A

20.2%

16.7%

0.5

0.0

0.0%

5.0

59%

22.0

0.8

9.0

MERCANTILE INVESTMENTS AND

Mar-2Q
FINANCE PLC

2,200.0

BFI

N/A

148.4

148.3

0%

243.6

210.8

16%

1.8%

0.9%

49.4

27.5

1.3%

N/A

N/A 1805.1

1.2

11.6

MERCHANT BANK OF SRI LANKA

PLC
CITIZENS DEVELOPMENT
BUSINESS FINANCE PLC

KEELLS FOOD PRODUCTS PLC

Mar-2Q

61.1

BFT

82.4/60

23.4

5.0

N/A

53.2

22.7

N/A

21.4%

18.7%

0.9

2.0

3.3%

10.9

14%

62.7

1.0

13.1

HORANA PLANTATIONS PLC

Mar-2Q

21.9

PLT

30.9/19.9

24.8

30.2

(-18%)

(-19.1)

49.8

N/A

10.8%

14.0%

1.0

2.0

9.1%

4.5

32%

55.8

0.4

4.2

LANKA WALLTILES PLC

Mar-2Q

56.5

MFG

75.4/53

295.2

266.1

11%

236.6

286.9

(-18%)

24.5%

23.7%

5.4

3.0

5.3%

3.3

49%

96.3

0.6

5.0

LANKA FLOORTILES PLC

Mar-2Q

75.0

MFG

81/56.1

183.4

159.0

15%

255.4

213.0

20%

33.4%

31.9%

3.5

4.1

5.5%

4.7

34%

61.5

1.2

5.8

VALLIBEL FINANCE PLC

Mar-2Q

30.0

BFI

36.9/26

65.3

66.9

(-2%)

135.8

128.7

6%

3.0%

2.6%

1.6

1.5

5.0%

N/A

N/A

24.3

1.2

4.2

DIESEL & MOTOR ENGINEERING

PLC

Mar-2Q

498.0

MTR

710/450

47.6

113.2

(-58%)

76.5

465.6

(-84%)

21.4%

14.0%

5.4

10.0

2.0%

8.9

37%

858.3

0.6

60.5

SATHOSA MOTORS PLC

Mar-2Q

222.1

MTR

279.4/181.1

66.2

40.8

62%

109.0

77.9

40%

16.1%

16.1%

11.0

5.0

2.3%

3.9

12%

140.6

1.6

5.6

Company

FY-Q

Share
Price (LKR)

Quarter Earnings -LKR mn

Sector

Cumulative Earnings - LKR mn

12M H/L (LKR)

Sep-13

Sep-12

Change (%)

Sep-13

Sep-12

Change
(%)

Qtr GP % /
Net Int. Margin
Sep-13

Sep-12

Sep-13
DPS (Last Div. Yield EV/EBITDA
Qtr EPS
FY-LKR) (Last FY)
(x)
(LKR)

D/(D+E)

NAVPS
(LKR)

P/BV TTM PER

(x)
(x)

SENKADAGALA FINANCE PLC

Mar-2Q

50.0

BFI

N/A

164.5

168.8

(-3%)

240.6

276.0

(-13%)

3.0%

3.1%

3.1

3.2

6.5%

N/A

N/A

32.0

1.6

5.3

TEA SMALLHOLDER FACTORIES

PLC

Mar-2Q

38.5

BFT

54.4/37

7.3

30.6

(-76%)

23.1

54.5

(-58%)

2.9%

5.2%

0.2

1.0

2.6%

10.9

10%

26.6

1.4

21.3

JOHN KEELLS HOTELS PLC

Mar-2Q

12.0

H&T

14/10.2

248.6

116.5

N/A

146.2

156.8

(-7%)

64.6%

65.7%

0.2

0.0

0.0%

8.0

31%

11.5

1.0

15.7

Cumulative Earnings
Sep Qtr 2013*

6,240

Cumulative Earnings
June Qtr 2013*

34,076

* Not adjusted for extra-ordinary items

* Latest results are highlighted in bold

Market PER (CSE) as

-11.2%
at 05 11 2013

15.64x

No. of Companies that released results

52

Market PER (CSE) as

at 28 06 2013

16.50x

No. of Companies that released results

265

1.3%

EQUITY
Colombo
Harinlal Aturupane (CEO)
Milanka Induruwage
Vimal Ramchandani
Lakshan Algama Perera
Chanaka Sanoj
Buddhenia Narangoda
Ifadh Marikar
Isuru Jayawardena
Nadeeka Jayasundara
Mangala Perera
Lahiru Ariyaratna
Keshani Nilaweera
Eranga Amarathunga

Galle
Lakshman Kariyawasam
Thilina Shashimal
Nuwan Abeynayake

+94 11 231 7760

+94 777 261 893
+94 777 237 607
+94 777 447 407
+94 773 850 227
+94 11 231 7754
+94 772 962 567
+94 773 576 092
+94 772 962 528
+94 772 441 140
+94 112 317 772
+94 112 317 776
+94 112 458 273

+94 91 222 7632

+94 776 398 477
+94 777 288 274

Jaffna
B. Mugundan

+94 21 459 1111

Negombo
T. Dananjaya
Nihal Fernando
Lahiru Sadaruwan

+94 773 593 016

+94 773 286 895
+94 772 962 545

Kurunegala
Indunil Pradeep
Dilshan Kumarage

+94 773 741 552

+94 777 557 334

Matara
Mahi Liyanage
Viraj Nanawatte

+94 11 231 7750

+94 11 231 7754
+94 11 231 7752

Matara
No.24, 1st Floor, E.H. Coorey Tower,
Matara
Galle
Road, Matara.
No.38,
Road, Matara
+94 412030200/2
Tel: Station
+94 41 4390611
Fax:
Tel:
+94 41 4390610
Jaffna
Laxan Plaza,
No.356B, Kasthuriar Road, Jaffna
Tel:
+94 21 4591111
Kurunegala
1st Floor, Union Assurance Building,

+94 772 962 557

+94 772 962 541

No.6, Rajapihilla Road, Kurunegala

Ambalanthota
Inok Wijesuriya

+94 772 962 537

Kandy
Prasad Alexander
Wipula Bandara

Kandy
No.21, Kumara Veediya,
Kandy
Tel:
+94 81 2232677

+94 773 789 612

+94 777 290 046

Dulkith Hettiarachchi
Muditha Hewawanitunga
Charith Dharmasiri

+94 11 231 7751

+94 11 231 7755
+94 11 231 7756

FIXED INCOME SALES

Veranga Vithanaarachchi
Amasha Liyanage
Sandeep Fernando

Head Office
5th Floor, Millennium House,
No.46/58, Nawam Mawatha,
Colombo 2, Sri Lanka
General:
+94 11 2317777
Fax:
+94 11 2317788
Email:
info@capitalalliance.lk
Website:
www.capitalalliance.lk
Branches

Tel:

+94 37 2222034

Negombo
No.72A/2/1, Old Chilaw Road,
Negambo
Tel:
+94 31 2227843/4
Fax:
+94 31 2227843
Galle
No.30, Sri Devamitta Mawatha, Galle

RESEARCH TEAM
Purasisi Jinadasa
Reshan Wediwardana
Thushani De Silva

Tel:

+94 11 231 7786

Udeeshan Jonas
Dushan De Silva

+94 91 2227631/2

+94 11 231 7746

Ambalanthota
NO.153/3,Main street,Ambalantota
Tel:
+94 472223026/27

This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources, believed to be reliable. Capital Alliance Securities (Private) Limited however does not warrant its completeness or accuracy. Opinions and estimates given
constitute a judgment as of the date of the material and are subject to change without notice. This report is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The recipient of this report must make their own independent decision regarding any securities,
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