zaiaaons Zia Kratr | SUPER EDGE REPORT PAKISTAN #2 | SITARA PEROXIDE LIMITED (KSE-SPL) ziakhatri Member: Ahsan Ali SUPER EDGE Research Reports: USA | Pakistan khatri Global Stocks Advisory PAKISTAN - SUPER EDGE Research Reports Report Issue date: 23-Apr-2014, Valid till: 23-Apr-2015. SITARA PEROXIDE LIMITED (KSE:SPL) Sector: Chemicals COMPANY PROFILE Sitara Peroxide Limited ('the Company’) was incorporated in Pakistan on March 8, 2004 as a public limited company under the Companies Ordinance, 1984. The Company is listed on Karachi Stock Exchange since July 23, 2007. The registered office of the Company is situated at 601-602, Business Centre, Mumtaz Hassan Road, Karachi. The manufacturing facilities are located at 26 KM Sheikhupura Road, Faisalabad. The principal activity of the Company is manufacturing and sale of hydrogen peroxide ("H202"). FINANCIAL POSITION AS ON 31-DEC-2013 [Net Sales 72 534 435.0% (Cost of goods sold 346 430 427.1% [Gross profit 375) 104 467.4% Profit before tax Et a2, Profit after tax: 24 “AS [Earnings per share (diluted) Rs.0.44 Rs.-0.82 The Net Sales of the Company increased to Rs.721 million (+35.0%) for the half year 2013 from Rs.534 million as compared to same period last year. The Cost of goods sold increased to Rs.546 million (+27.1%) from Rs.430 million as compared to same period last year. The Gross profit, Increased to Rs.175 million (+67.4%) as compared to Rs.104 million during same period last year. ‘The Profit before tax increased to Rs.39 million from loss of Rs.-42 million as compared to same period last year. The Profit after tax increased to Rs.24 million during the half year as compared to loss of Rs.-45 million during same period last year. Earnings per share (diluted) increased to Rs.0.44 per share from Rs.-0.82 as compared to same period last year. ‘The Company have shown turnaround performance during last 6 months. Improvement in earnings are expected going ahead. The Company may announce 5-10% final cash dividend at year end for the first ever time. FAIR VALUE BASED ON TECHNICAL ANALYSIS. SPL after making a high of Rs.20.13 on Jan 28, 2014 went through moderate correction. Support is seen around Rs.15.50-16.00 level and next at 15 level. MACD and RSI show consolidation ohase pina zea comisopak2 asp 1zaiaaons hepibnwn zit conisepti2anp Zia Kratr | SUPER EDGE REPORT PAKISTAN #2 | SITARA PEROXIDE LIMITED (KSE-SPL) have started leading to upward price movement in short-medium term. In worst case the price can drop to Rs.15 range however Rs.15.50 may show strong support level. During next 6-9 months the price is expected to rise considerably breaching above previous high of Rs.20.13. Medium term resistance is at Rs.18-20 level. Price is expected to trade above Rs.20 between Rs.20.13-23.15 range during next 6-9 months. Sitara Peroxide Limited (KSE: SPL) price SPL. Daly SUa0TE Open THe, FATE TT, Lo | EE, Close TBF GO.1%) Wal T8e AON WAEINSE, TS) 200 130 0 165751 [sez Ie "E0075 —, 140zaiaaons Zia Kratr | SUPER EDGE REPORT PAKISTAN #2 | SITARA PEROXIDE LIMITED (KSE-SPL) RECOMMENDATION: BUY SPL WITH Rs.23.15 TARGET PRICE WITH 44.50% UPSIDE BASED ON 6-9, MONTHS INVESTMENT HORIZON. Back to Home bbisctaim jakhatri takes no responsibility for the profits and losses made on the| recommendations and advices. Investors are adviced to practice due diligence before] linvesting in companies mentioned and recommended above. ziakhatri is a research and| information source only. © 2013 Ziakhatri.com All rights reserved. pina zea comisopak2asp