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Vallibel Finance PLC has become one of the fastest growing financial institutes in Sri Lanka under the vision of business tycoon Dhammika Perera. Formerly known as Rupee Finance, VFIN’s core business functions include FDs, Leasing, Hire Purchases, Micro Finance & personal loans.
VFIN managed to show 55% growth in December quarter EPS of Rs. 2.54/- compared to the same quarter in 2013. Now it’s just a matter of time we witness annualized EPS hitting Rs.10/- plus.
Looking at how they grew their network, the last 4 months show a promising progress - They have opened 3 branches in Rajagiriya, Anuradhapura and Kegalle and partnered with DIMO to promote TATA vehicles. With this deal, attractive leasing options for TATA Commercial and Passenger vehicles wil be offered by VFIN to its customers.
At an NAV of 33.81, VFIN is trading at PBV x 1.49. The current share price around Rs. 50/- is a bargain price for the big shots to enter and collect. May be that’s the reason for one of the Director’s to be on the buying side for some time.
Therefore, on a fair value basis, a financial entity should trade at least at PBV x 2.0. This makes VFIN one of the attarctive counters available for medium term. The valuation based on PBV sees Rs. 67/-. But its not a guarantee that VFIN reaches this amount in one go.
On a tech note, VFIN currently engages in a channel where 53 sees a channel top and 47 sees a bottom. Above 47, it has support. So of this can break 53 in near term, we can see this making new highs. If not a correction towads 44-47 can also be expected.
VFIN managed to show 55% growth in December quarter EPS of Rs. 2.54/- compared to the same quarter in 2013. Now it’s just a matter of time we witness annualized EPS hitting Rs.10/- plus.
Looking at how they grew their network, the last 4 months show a promising progress - They have opened 3 branches in Rajagiriya, Anuradhapura and Kegalle and partnered with DIMO to promote TATA vehicles. With this deal, attractive leasing options for TATA Commercial and Passenger vehicles wil be offered by VFIN to its customers.
At an NAV of 33.81, VFIN is trading at PBV x 1.49. The current share price around Rs. 50/- is a bargain price for the big shots to enter and collect. May be that’s the reason for one of the Director’s to be on the buying side for some time.
Therefore, on a fair value basis, a financial entity should trade at least at PBV x 2.0. This makes VFIN one of the attarctive counters available for medium term. The valuation based on PBV sees Rs. 67/-. But its not a guarantee that VFIN reaches this amount in one go.
On a tech note, VFIN currently engages in a channel where 53 sees a channel top and 47 sees a bottom. Above 47, it has support. So of this can break 53 in near term, we can see this making new highs. If not a correction towads 44-47 can also be expected.
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