The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Happy Birthday
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyYesterday at 8:13 pm by Rana

» සුබ පාස්කූ මංගල්ලයක් වේවා !
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyYesterday at 7:45 pm by serene

» Thread for News on CSE and SL Economy
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyYesterday at 7:30 pm by ruwan326

» Little Known Facts !
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyYesterday at 9:27 am by කිත්සිරි ද සිල්වා

» හීන්බන්ඩාගේ රැකියාව ඇසූ පසු පොලිස් නෝනලාට තරු පෙනුනා
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySat Apr 20, 2019 10:07 am by ruwan326

» DFCC.N0000 ( DFCC BANK PLC )
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 19, 2019 7:23 pm by hammurabi

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 19, 2019 6:26 pm by PANTOMATH

» HASU.N0000 (HNB ASSURANCE PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyThu Apr 18, 2019 6:05 pm by Ethical Trader

» EAST WEST PROPERTIES PLC (EAST.N0000)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyThu Apr 18, 2019 6:02 pm by Ethical Trader

» අසිරිමත් සුබ නව වසරකට ආසිරි !
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyWed Apr 17, 2019 6:33 pm by hammurabi

» Dividend Announcement
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySat Apr 13, 2019 10:53 pm by nihal123

» SEYLAN DEVELOPMENTS PLC (CSD.N0000)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 12, 2019 8:55 am by yellow knife

» East West properties
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 12, 2019 5:27 am by dhanurrox

» HHL.N0000 ( Hemas Holdings PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 09, 2019 8:04 pm by NIRMALSG

» Thread for News on Local and Foreign Politics
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 09, 2019 11:25 am by Ethical Trader

» අනං මනං! #/+?.<>
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Apr 08, 2019 7:23 pm by ruwan326

» කිරි පිටි ගැන ඔබ මෙතෙක් නොදත් දේ
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Apr 08, 2019 5:31 am by Ethical Trader

» CONN.N0000
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySun Apr 07, 2019 3:15 pm by NIRMALSG

» LION.N0000 (Lion Brewery Ceylon PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySun Apr 07, 2019 8:52 am by ruwan326

»  5000 Post Milestone - Congratulations
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 05, 2019 9:07 pm by Ethical Trader

» NTB.N0000 (NATIONS TRUST BANK PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 05, 2019 1:37 pm by Ethical Trader

» Micro Finance
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 05, 2019 12:14 pm by yellow knife

» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Apr 05, 2019 7:40 am by serene

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyThu Apr 04, 2019 6:53 pm by NIRMALSG

» PLC.N0000 ( People's Leasing and Fiance PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyWed Apr 03, 2019 6:04 pm by NIRMALSG

» VPEL.N0000 (VALLIBEL POWER ERATHNA PLC )
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyWed Apr 03, 2019 3:40 pm by catseye

» SAMP.N0000 (SAMPATH BANK PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 02, 2019 12:38 pm by malanp

» Sinhala Cinema
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 02, 2019 12:31 pm by yellow knife

» SEYB.N0000 ( SEYLAN BANK PLC )
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 02, 2019 11:23 am by Backstage

» LIOC.N0000 (Lanka IOC PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 02, 2019 11:15 am by LSE

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Apr 02, 2019 11:11 am by Backstage

» Plantation sector updates
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Apr 01, 2019 2:13 pm by nihal123

» What to Analyse
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Apr 01, 2019 8:00 am by yellow knife

» MTD WALKERS - KAPI
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Apr 01, 2019 5:01 am by NIRMALSG

» VONE.N0000 (VALLIBEL ONE PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySun Mar 31, 2019 6:09 pm by lanka

» In the Meantime, Within Our Shores !
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySun Mar 31, 2019 11:22 am by කිත්සිරි ද සිල්වා

» PB. N0000 (People's Bank)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Mar 29, 2019 5:33 pm by yellow knife

» Obituary Notice.
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Mar 29, 2019 5:07 pm by කිත්සිරි ද සිල්වා

» Re: Financial reports Q1-2019
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Mar 29, 2019 7:45 am by serene

» Save Wilpattu !
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyThu Mar 28, 2019 1:58 pm by puliyanam

» Help him Today, so he can help another Tomorrow
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyThu Mar 28, 2019 7:49 am by serene

» HNB.N0000 ( Hatton National Bank PLC)
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Mar 26, 2019 6:18 am by pjrngroup

» අපිට විතරද පායන්නේ ?
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Mar 25, 2019 9:06 pm by malanp

» Tourism sector
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyMon Mar 25, 2019 5:47 pm by NIRMALSG

» Oman's Oil and Gas Minister Dr. Al Ruhmy arrives in Lanka.
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptySun Mar 24, 2019 12:11 pm by Ethical Trader

» රෝගීන් වෙනුවෙන් කැප වන සෞඛ්‍ය සේවාවක් වෙනුවෙන්.....
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Mar 19, 2019 9:34 am by AjithR

» JEWS OF SRI LANKA: AN UNTOLD STORY
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Mar 19, 2019 9:22 am by කිත්සිරි ද සිල්වා

» How Small We are in the universe
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyTue Mar 19, 2019 7:29 am by nihal123

» ඉස්සරහට අපි පරදින එකනම් ෂුවර් – ධම්මික ක්‍රිකට් ගැන කතා කරයි
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyFri Mar 15, 2019 2:59 pm by nuwanmja

» HAYL.N0000 Hayleys PLC
RCL - Initiating Coverage - STRONG BUY - 20 09 16 EmptyThu Mar 14, 2019 2:46 pm by yellow knife

April 2019
SunMonTueWedThuFriSat
 123456
78910111213
14151617181920
21222324252627
282930    

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

RCL - Initiating Coverage - STRONG BUY - 20 09 16

Go down

RCL - Initiating Coverage - STRONG BUY - 20 09 16 Empty RCL - Initiating Coverage - STRONG BUY - 20 09 16

Post by CSE.SAS on Tue Oct 04, 2016 8:48 pm

ROYAL CERAMICS LANKA PLC

Initiating Coverage - STRONG BUY

Current Price: LKR 120.5 Fair Value: LKR 200.0

“Glazed Performance”

Click the below link to download the Report of FC Research - RCL - Initiating Coverage - STRONG BUY - 20 09 16

[You must be registered and logged in to see this link.]

Royal Ceramic Lanka PLC, leader in high quality surface covering and bath-ware in Sri Lanka with subsidiaries providing a diversified product portfolio. RCL’s earnings is expected to grow at a CAGR of c.13% FY16-FY19E surpassing c.LKR 4.0Bn in FY18E and c.LKR 4.3Bn in FY19E. RCL is expected to grow its earnings mainly driven by the incline in its revenue streams coupled with the efficient management of operational costs. FC Research expect RCL to provide a return of 82% at LKR 200.0. STRONG BUY

Construction sector boom driven revenue: RCL’s revenue is expected to grow at a c.CAGR of 14% over FY16-19E to reach c.LKR 36.9Bn in FY18E as opposed to LKR 24.9Bn registered in FY16 on the back of the growth in the construction sector primarily driven by the increased demand for housing and residential property led by rising urbanization and the boom in the tourism industry deriving from the increase in the number of tourist arrivals result in an increased demand for tourist accommodation.

Increased volumes to Improve Margins and Earnings: Economies of scale deriving from increased volumes coupled with comparatively lower commodity prices to reduce the overall cost of sales thus record it at c.LKR 20.0Bn in FY18E with a CAGR of 14% over FY16-FY18E leading to an increase in RCL earnings to c.LKR 4.3Bn (CAGR of 17% over FY16-FY18E) while improving GP, EBIT and NP margins in FY18E to 39%, 21% and 12% respectively.

RCL to provide 82% return over 18-months period: FC Research expect RCL to achieve a fair value of LKR 200.0 providing a total return of 82% (Dividend yield 16%) over 18-month period. [DCF based LKR 141.2 and PER based LKR 253.1]

Risks associated: Given the nature of the business model of the company RCL is exposed to the risk resulting from the fluctuations in exchange rates and the changes in the government policies.


Disclosure:

First Capital Group and its affiliates holds 246,842 shares in RCL. Neither First Capital Group nor its affiliates have traded in the shares in the three trading days prior to this document, and will not trade in the shares for three trading days following the issue of this document.

CSE.SAS

Posts : 263
Join date : 2014-02-23

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum