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

Display results as :
 


Rechercher Advanced Search

Latest topics
» 8000 Post Club | Celebration of a Great Milestone කිත්සිරි ද සිල්වා
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyToday at 8:49 am by puliyanam

» “බිරිඳගේ සහ පෙම්වතියගේ වෙනස මොකක්ද?”
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyYesterday at 11:51 pm by sanjulanka

» Thread for News on Local and Foreign Politics
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyYesterday at 8:46 am by The Invisible

» Thread for News on CSE and SL Economy
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 24, 2019 8:37 am by The Invisible

» The Central Bank of Sri Lanka Reduces its Policy Interest Rates
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 24, 2019 4:26 am by Ethical Trader

» Dividend Announcement
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 23, 2019 8:16 pm by Rana

» JKH - 155/00 Breakout is pending
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 23, 2019 2:21 pm by pjrngroup

» Browns Investments update
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 23, 2019 10:08 am by sanjulanka

» Thread for News on International Markets
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 23, 2019 9:34 am by The Invisible

» Tokyo as at 21.08.2019 Morning
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 21, 2019 10:07 am by nisashi

» අනං මනං! #/+?.<>
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyTue Aug 20, 2019 8:18 pm by ruwan326

» What Would You Do?
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 19, 2019 1:02 pm by කිත්සිරි ද සිල්වා

» Back of the Legends
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 19, 2019 10:13 am by Topcat

» NTB.N0000 (NATIONS TRUST BANK PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySun Aug 18, 2019 10:33 pm by lanka

» Melstacorp (MELS)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySun Aug 18, 2019 8:33 pm by The Invisible

» Cargills (CARG)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySun Aug 18, 2019 8:26 pm by The Invisible

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySun Aug 18, 2019 8:18 pm by The Invisible

» SHL.N0000 (Softlogic Holdings PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySun Aug 18, 2019 8:14 pm by The Invisible

» SAMP.N0000 (SAMPATH BANK PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 17, 2019 12:44 pm by nuwanmja

» Hayleys MGT
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 16, 2019 8:55 pm by ruwan326

» CFVF - First Capital
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 16, 2019 9:58 am by CK

» JINS.N0000 ( Janashakthi Insurance PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 14, 2019 4:57 pm by The Invisible

» Ceylinco Insurance CINS
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 14, 2019 9:18 am by The Invisible

» HNB.N0000 ( Hatton National Bank PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 14, 2019 9:15 am by The Invisible

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 14, 2019 9:11 am by The Invisible

» Tourism Sector
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 14, 2019 4:55 am by NIRMALSG

» LIOC.N0000 (Lanka IOC PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 12, 2019 2:55 pm by xmart

» HAYL.N0000 Hayleys PLC
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 12, 2019 1:43 pm by CK

» PABC.N0000 (Pan Asia Banking Corporation PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 12, 2019 1:33 pm by The Invisible

» Grain Elevators
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 12, 2019 1:31 pm by The Invisible

» Sri Lanka sets US$3.5bn tea export target for 2030
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyMon Aug 12, 2019 1:27 pm by The Invisible

» Tea: July 2019 national average shows gains month on month
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySun Aug 11, 2019 9:19 pm by Topcat

» OSEA .N
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 10, 2019 6:40 pm by The Invisible

» Sri Lanka mulls reforms to punish 'errant' plantation companies
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 10, 2019 6:33 pm by The Invisible

» JKH.N0000
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 10, 2019 11:38 am by The Invisible

» HHL.N0000 ( Hemas Holdings PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 10, 2019 10:42 am by The Invisible

» Nestle NEST
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 10, 2019 10:28 am by The Invisible

» Ceylon Tobacco CTC
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptySat Aug 10, 2019 10:26 am by The Invisible

» Volkswagen කතාවේ ඇත්ත තත්ත්වය මෙහෙමයි.
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 09, 2019 5:37 pm by කිත්සිරි ද සිල්වා

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 09, 2019 5:07 pm by Ethical Trader

» VFIN - where the journey leads it?
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 09, 2019 9:21 am by ruwan326

» UAL.N0000 ( UNION ASSURANCE PLC )
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyFri Aug 09, 2019 9:20 am by ruwan326

» SPEN.N0000
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 10:20 pm by The Invisible

» Lanka Tiles
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 10:15 pm by The Invisible

» Expolanka
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 8:28 pm by ruwan326

» Tile - Snapshot
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 11:37 am by mymoney

» DPL.N0000 (Dankotuwa Porcelain PLC)
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 11:31 am by mymoney

» නිරුවත
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 9:36 am by කිත්සිරි ද සිල්වා

» HAYC - Haycarb
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyThu Aug 08, 2019 7:32 am by Beta

» WATA - Watawala
TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research EmptyWed Aug 07, 2019 12:03 pm by lanka

August 2019
SunMonTueWedThuFriSat
    123
45678910
11121314151617
18192021222324
25262728293031

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

TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research

Go down

TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research Empty TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research

Post by CSE.SAS on Tue Nov 03, 2015 4:39 pm

Click the below link to download the Report of TEXTURED JERSEY LANKA (TJL.N : LKR32.40) ------Softlogic Equity Research

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

Net earnings up c.66% YoY to LKR468.4 mn whilst net margin expanded to 11.7% in 2QFY16.The capacity expansions reflecting the improved sales volume growth as well as margin expansion and economies of scale practiced has aided the bottom line to grow by 66.2% YoY to LKR468.4 mn. NP margins widened to 11.7% in 2QFY16 against 8.2% in the comparative quarter of the previous year. Moreover the company further expects to expand its valued added segment’s revenue contribution beyond c.26% in FY16E and FY17E with hopes on touching synthetic fabric manufacturing market which could aid immensely to maintain TJL’s prevailing NP margins.

Moreover TJL being debt-free till 4QFY14, recorded a debt to equity ratio of c.3% in the quarter under consideration for the purpose of managing and optimizing current cash flows and investments. TJL being a BOI venture, was tax exempted until September 2016 while being entitled to 15% tax payment for 8 years thereafter.

A revenue growth of c.16% YoY to LKR4,011.3 mn during 2QFY16. The capacity additions through consolidation of Quenby Lanka Prints and Ocean India which took place recently reinforced TJL in yielding a c.16% YoY revenue growth to LKR4,011.3 mn during the quarter under consideration. The acquisition of Quenby Lanka Prints which completed by 1st June 2015 has improved the sales of value added products during the quarter whilst creating a platform for synergies. However with further capacity addition of Ocean India (36 MT/day), TJL is expected to touch synthetic and printed fabric manufacturing which would expand TJL’s value added product portfolio to 25%-30% levels to result an improved top line growth during FY17E and FY18E. In addition the company is hoping to further strengthen its clientele by catering to many new high-end emerging brands.

Gross profit margin grew c.572 bps YoY to 15.5% while gross profit increased 83.7% YoY in 2QFY16. The improved margins coupled with the efficient sourcing synergies and the tight cost management structure followed enabled TJL to achieve a gross profit of LKR 622.5 mn in 2QFY16. In addition, the lower global cotton prices averaging USD70.5 for the quarter also favored to curtail cost of sales growth (though inclined c.9% YoY).

EBIT grew by 80.3% YoY to LKR448.8 mn with a c.398.6 bps YoY growth in margin. TJL saw steady growth at operating level where operating profits grew significantly by 80.3% YoY to LKR448.8 mn in 2QFY16, chiefly led by robust gross margin expansion and backed by improved operating efficiencies. TJL recorded an EBIT margin of 11.2% in 2QFY16 cf. 7.2% in 2QFY15 resulting a c.398.6 bps YoY growth.

Moreover total OPEX escalated c.97% YoY chiefly led by the increased administration expenses which rose 110.6% YoY on the back of catering the planned expansion systems, processes and infrastructure of Quenby Lanka Prints and Ocean India (Pvt.) Ltd to aid group’s long term development plans.

TJL’s net finance income for the quarter dipped c.15% YoY to LKR14.0 mn mainly on the back of increase in finance costs by c.272% YoY to LKR5.0 mn during 2QFY16.

Impact on GSP plus will also benefit to widen the margins further for TJL once the concessions are being finalized. Primarily as a result of the expected cost savings from the multi fuel boiler plant and optimal usage of newly added capacity, we forecast a 21.5% YoY bottom-line growth for TJL’s net earnings for FY16E to LKR1,618.5 mn and TJL’s FY17E net profit to LKR1,877.6 mn (up 16.0% YoY). Thereby the share trades at 13.9x forecast FY16E net profit and 12.0x forecast FY17E earnings offering a dividend yield of 4.7% and 5.4% for FY16E and FY17E respectively. Moreover ROEs are expected to be in the range of 21.3%-22.8% for FY16E to FY17E. Therefore we maintain BUY.

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