Results Update

June 2015

Monday, August 24, 2015

Quarter Earnings LKR 'mn

Company

Mkt Price
Stock Code
LKR

Qtr

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR

4 Qtr Trailing
ROE

PER (x) PBV (x)

Banking, Finance & Insurance

ABANS FINANCE PLC
ALLIANCE FINANCE COMPANY PLC
AMANA BANK PLC
AMANA TAKAFUL PLC
AMW CAPITAL LEASING PLC
ARPICO FINANCE COMPANY PLC
ASIA ASSET FINANCE LIMITED
ASIA CAPITAL PLC
ASIAN ALLIANCE INSURANCE PLC
ASSOCIATED MOTOR FINANCE COMPANY PLC
AIA INSURANCE LANKA PLC
BIMPUTH LANKA INVESTMENTS PLC
CAPITAL ALLIANCE FINANCE PLC
CENTRAL FINANCE COMPANY PLC
CEYLINCO INSURANCE PLC
CHILAW FINANCE LIMITED
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC
COMMERCIAL BANK OF CEYLON PLC
COMMERCIAL CREDIT PLC
COMMERCIAL LEASING & FINANCE
DFCC BANK
ENTRUST SECURITIES LIMITED
FIRST CAPITAL HOLDINGS PLC
GEORGE STEWART FINANCE
HATTON NATIONAL BANK PLC
HNB ASSURANCE PLC
JANASHAKTHI INSURANCE COMPANY PLC
LANKA ORIX FINANCE PLC
LANKA ORIX LEASING COMPANY PLC
LANKA VENTURES PLC
LB FINANCE PLC
MERCANTILE INVESTMENTS PLC
MERCHANT BANK OF SRI LANKA PLC
MULTI FINANCE PLC
NANDA INVESTMENTS AND FINANCE LIMITED
NATION LANKA FINANCE PLC
NATIONAL DEVELOPMENT BANK PLC
NATIONS TRUST BANK PLC
PAN ASIA BANKING CORPORATION PLC
PEOPLE'S LEASING COMPANY PLC
SANASA DEVELOPMENT BANK PLC

Page 1

AFSL.N0000
ALLI.N0000
ABL.N0000
ATL.N0000
AMCL.N0000
ARPI.N0000
AAF.N0000
ACAP.N0000
AAIC.N0000
AMF.N0000
CTCE.N0000
BLI.N0000
CALF.N0000
CFIN.N0000
CINS.N0000
CFL.N0000
CDB.N0000
COMB.N0000
COCR.N0000
CLC.N0000
DFCC.N0000
ESL.N0000
CFVF.N0000
GSF.N0000
HNB.N0000
HASU.N0000
JINS.N0000
LOFC.N0000
LOLC.N0000
LVEN.N0000
LFIN.N0000
MERC.N0000
MBSL.N0000
MFL.N0000
NIFL.N0000
CSF.N0000
NDB.N0000
NTB.N0000
PABC.N0000
PLC.N0000
SDB.N0000

42.80
916.00
5.00
1.30
22.40
210.00
1.80
8.90
19.70
467.70
279.80
96.90
14.90
275.00
1,550.10
23.80
110.00
175.00
66.10
4.20
194.10
39.90
41.00
24.00
227.40
82.00
20.10
4.40
114.00
51.60
129.70
2,200.00
18.50
24.30
9.30
3.00
255.30
104.10
28.00
26.00
165.10

1Q-Mar
1Q-Mar
2Q-Dec
2Q-Dec
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
2Q-Dec
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
2Q-Dec
2Q-Dec
1Q-Mar
2Q-Dec

26
120
48
-29
69
81
35
-88
52
111
74
135
4
1,026
178
8
217
2,646
622
406
622
93
170
18
2,386
64
94
364
1,851
68
776
149
95
4
54
36
575
765
274
1,110
208

4
33
-86
16
50
-4
13
-127
89
34
68
11
-2
844
89
7
158
2,216
491
275
1,123
82
209
3
2,550
54
191
231
926
51
449
89
-41
9
2
-55
843
608
90
783
153

494%
259%
156%
-280%
38%
2336%
166%
31%
-41%
224%
10%
1087%
345%
22%
100%
24%
38%
19%
27%
48%
-45%
14%
-19%
528%
-6%
18%
-51%
58%
100%
35%
73%
67%
329%
-58%
2758%
165%
-32%
26%
204%
42%
36%

12
220
23
-51
66
40
25
-89
200
65
-2
125
2
875
378
5
242
2,536
711
371
825
-91
-91
15
1,915
16
106
295
1,633
0
629
198
-151
42
166
-132
869
493
177
1,125
205

122%
-46%
106%
43%
5%
101%
42%
2%
-74%
71%
4022%
8%
97%
17%
-53%
68%
-10%
4%
-13%
9%
-25%
202%
286%
26%
25%
312%
-11%
23%
13%
18137%
23%
-25%
163%
-91%
-68%
127%
-34%
55%
55%
-1%
1%

26
120
71
-80
135
81
35
-88
253
111
72
135
4
1,026
556
8
217
5,182
622
406
622
93
170
18
4,301
80
201
364
1,851
68
776
149
-56
4
54
36
1,444
1,258
451
1,110
414

4
33
-135
49
98
-4
13
-127
339
34
146
11
-2
844
375
7
158
4,517
491
275
1,123
82
209
3
3,647
108
347
231
926
51
449
89
-94
9
2
-55
2,034
1,157
176
783
210

494%
259%
152%
-262%
38%
2336%
166%
31%
-25%
224%
-51%
1087%
345%
22%
48%
24%
38%
15%
27%
48%
-45%
14%
-19%
528%
18%
-26%
-42%
58%
100%
35%
73%
67%
40%
-58%
2758%
165%
-29%
9%
156%
42%
97%

2.52
14.95
184.66 1,075.50
0.10
4.06
-0.06
1.00
12.96
63.97
40.74 131.02
0.16
1.57
-2.56
2.75
1.78
6.49
53.40 195.90
9.06 161.87
6.36
18.98
0.37
8.62
36.38 241.08
103.33 754.72
0.63
16.10
14.16
78.57
13.59
81.00
7.46
20.67
0.27
1.68
14.57 174.64
7.04
38.59
9.06
23.98
-2.21
13.43
25.86 171.44
7.78
45.18
2.52
12.15
0.58
3.00
13.31
64.25
4.41
30.99
18.11
63.16
229.91 2,592.32
0.14
17.49
-0.07
14.97
2.17
7.75
0.57
-0.91
21.46 173.67
11.44
63.78
2.34
17.58
2.80
14.22
17.59 122.78

17% 17.0x
17% 5.0x
2% 49.9x
-6% N/A
20% 1.7x
31% 5.2x
10% 11.5x
-93% N/A
27% 11.1x
27% 8.8x
6% 30.9x
34% 15.2x
4% 39.9x
15% 7.6x
14% 15.0x
4% 37.5x
18% 7.8x
17% 12.9x
36% 8.9x
16% 15.5x
8% 13.3x
18% 5.7x
38% 4.5x
-16% N/A
15% 8.8x
17% 10.5x
21% 8.0x
19% 7.6x
21% 8.6x
14% 11.7x
29% 7.2x
9% 9.6x
1% 131.1x
0% N/A
28% 4.3x
N/A 5.2x
12% 11.9x
18% 9.1x
13% 12.0x
20% 9.3x
14% 9.4x

2.9x
0.9x
1.2x
1.3x
0.4x
1.6x
1.1x
3.2x
3.0x
2.4x
1.7x
5.1x
1.7x
1.1x
2.1x
1.5x
1.4x
2.2x
3.2x
2.5x
1.1x
1.0x
1.7x
1.8x
1.3x
1.8x
1.7x
1.5x
1.8x
1.7x
2.1x
0.8x
1.1x
1.6x
1.2x
-3.3x
1.5x
1.6x
1.6x
1.8x
1.3x

FC RESEARCH

Quarter Earnings LKR 'mn

Company
SAMPATH BANK PLC
SENKADAGALA FINANCE PLC
SEYLAN BANK PLC
SINGER FINANCE (LANKA) PLC
SINHAPUTHRA FINANCE PLC
SMB LEASING PLC
SOFTLOGIC CAPITAL LIMITED
SOFTLOGIC FINANCE PLC
SWARNAMAHAL FINANCIAL SERVICES PLC
THE FINANCE COMPANY PLC
THE HOUSING DEVELOPMENT FINANCE CORP:
TRADE FINANCE & INVESTMENTS PLC
UNION ASSURANCE PLC
UNION BANK OF COLOMBO PLC
VALLIBEL FINANCE PLC

Mkt Price
Stock Code
LKR
SAMP.N0000
SFCL.N0000
SEYB.N0000
SFIN.N0000
SFL.N0000
SEMB.N0000
SCAP.N0000
CRL.N0000
SFS.N0000
TFC.N0000
HDFC.N0000
TFIL.N0000
UAL.N0000
UBC.N0000
VFIN.N0000

273.70
60.00
106.30
26.00
19.50
1.20
7.50
57.70
1.90
14.50
73.40
27.00
178.40
24.00
69.00

Qtr

2Q-Dec
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
2Q-Dec
2Q-Dec
1Q-Mar

Banking, Finance & Insurance Sector Earnings

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

1,628
227
1,052
112
20
19
43
55
13
-373
141
58
93
36
96

1,543
100
684
74
16
15
7
5
-352
-627
83
53
91
9
66

6%
127%
54%
52%
24%
30%
565%
954%
104%
40%
70%
8%
3%
302%
45%

1,578
100
664
111
50
18
122
63
-11
-347
136
44
1,322
32
120

3%
128%
58%
1%
-59%
8%
-65%
-13%
224%
-8%
4%
32%
-93%
14%
-20%

3,206
227
1,715
112
20
37
43
55
13
-373
276
58
1,416
68
96

2,818
100
1,211
74
16
30
7
5
-352
-627
185
53
214
28
66

18,741

14,297

31%

17,999

6
307
135
2
82
-168
4
24

2
156
131
0
13
-172
5
8

184%
97%
4%
531%
527%
3%
-1%
221%

13
160
279
5
81
-218
10
23

-51%
92%
-52%
-53%
1%
23%
-55%
3%

394

142

177%

354

11% Sector Multiples

144
391
313
550
102
3,019
51
22
1,755
43
-2
70
45
12
-1
1,299

43
-145
231
299
218
2,511
33
20
1,846
33
-9
38
20
-21
-8
976

238%
369%
36%
84%
-53%
20%
54%
13%
-5%
28%
81%
86%
130%
157%
90%
33%

95
295
-134
601
136
2,490
42
78
2,057
62
-2
79
49
-91
4
1,158

14%
127%
42%
52%
24%
22%
565%
954%
104%
40%
49%
8%
560%
146%
45%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR
32.80
8.75
10.68
2.58
1.97
0.05
0.73
5.24
-0.21
-9.94
7.93
3.35
28.06
0.07
9.69

210.80
41.02
74.88
13.73
16.12
0.60
5.32
37.94
-2.10
-70.15
48.86
17.34
82.19
14.89
36.75

4 Qtr Trailing
ROE

PER (x) PBV (x)

16% 8.3x
21% 6.9x
14% 10.0x
19% 10.1x
12% 9.9x
9% 22.2x
14% 10.3x
14% 11.0x
N/A N/A
N/A N/A
16% 9.3x
19% 8.1x
34% 6.4x
0% 366.7x
26% 7.1x

4% Sector Multiples

1.3x
1.5x
1.4x
1.9x
1.2x
2.0x
1.4x
1.5x
-0.9x
-0.2x
1.5x
1.6x
2.2x
1.6x
1.9x

10.6x

1.6x

60.8x
12.0x
8.3x
20.2x
7.7x
N/A
9.8x
10.8x

0.8x
1.5x
1.0x
2.3x
1.0x
0.9x
2.2x
2.1x

17.7x

1.1x

Chemicals & Pharmaceuticals

CHEMANEX PLC
CIC HOLDINGS PLC
HAYCARB PLC
INDUSTRIAL ASPHALTS (CEYLON) PLC
J.L. MORISON SONS & JONES (CEYLON) PLC
LANKEM CEYLON PLC
MULLER AND PHIPPS (CEYLON) PLC
UNION CHEMICALS LANKA PLC

CHMX.N0000
CIC.N0000
HAYC.N0000
ASPH.N0000
MORI.N0000
LCEY.N0000
MULL.N0000
UCAR.N0000

84.70
115.90
186.10
330.00
330.00
120.80
1.50
521.10

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec

Chemicals & Pharmaceuticals Sector Earnings

6
307
135
2
82
-168
4
47

2
156
131
0
13
-172
5
24

184%
97%
4%
531%
527%
3%
-1%
97%

1.39
9.63
22.51
16.30
43.12
-19.58
0.15
48.37

103.85
77.38
193.80
144.42
320.46
141.81
0.68
252.91

1%
12%
12%
11%
13%
-14%
22%
19%

Beverage, Food and Tobacco

BAIRAHA FARMS PLC
CARGILLS (CEYLON) PLC
CEYLON BEVERAGE HOLDINGS PLC
CEYLON COLD STORES PLC
CEYLON TEA SERVICES PLC
CEYLON TOBACCO COMPANY PLC
RENUKA SHAW WALLACE PLC
CONVENIENCE FOODS (LANKA )PLC
DISTILLERIES COMPANY OF SRI LANKA PLC
HARISCHANDRA MILLS PLC
HVA FOODS PLC
KEELLS FOOD PRODUCTS PLC
KOTMALE HOLDINGS PLC
LANKA MILK FOODS (CWE) PLC
LUCKY LANKA MILK PROCESSING COMPANY LIMITED
NESTLE LANKA PLC

Page 2

BFL.N0000
CARG.N0000
BREW.N0000
CCS.N0000
CTEA.N0000
CTC.N0000
COCO.N0000
SOY.N0000
DIST.N0000
HARI.N0000
HVA.N0000
KFP.N0000
LAMB.N0000
LMF.N0000
LLMP.N0000
NEST.N0000

184.30
182.00
840.00
419.80
674.00
978.10
26.80
498.20
302.40
2,300.00
9.00
179.80
60.10
164.00
3.80
2,118.00

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec

52%
32%
334%
-9%
-25%
21%
20%
-71%
-15%
-31%
29%
-11%
-8%
113%
-121%
12%

144
391
313
550
102
5,509
51
22
1,755
43
-2
70
45
12
-1
2,458

43
-145
231
299
218
4,537
33
20
1,846
33
-9
38
20
-21
-8
2,079

238%
369%
36%
84%
-53%
21%
54%
13%
-5%
28%
81%
86%
130%
157%
90%
18%

16.29 129.70
4.96
57.43
35.43 203.28
18.69 112.19
34.90 433.90
51.20
46.00
2.59
30.45
60.09 217.07
24.37 209.51
184.52 1,164.96
-0.05
7.64
11.53
62.45
4.50
33.13
1.61 313.33
-0.03
3.08
77.54
65.33

13% 11.3x
9% 36.7x
17% 23.7x
17% 22.5x
8% 19.3x
111% 19.1x
8% 10.4x
28% 8.3x
12% 12.4x
16% 12.5x
-1% N/A
18% 15.6x
14% 13.4x
1% 101.8x
-1% N/A
119% 27.3x

1.4x
3.2x
4.1x
3.7x
1.6x
21.3x
0.9x
2.3x
1.4x
2.0x
1.2x
2.9x
1.8x
0.5x
1.2x
32.4x

FC RESEARCH

Quarter Earnings LKR 'mn

Company
RAIGAM WAYAMBA SALTERNS PLC
RENUKA AGRI FOODS PLC
TEA SMALLHOLDER FACTORIES PLC
THE LION BREWERY CEYLON PLC
THREE ACRE FARMS PLC

Mkt Price
Stock Code
LKR
RWSL.N0000
RAL.N0000
TSML.N0000
LION.N0000
TAFL.N0000

2.90
4.40
39.30
660.70
128.10

Qtr

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec

Beverage, Food and Tobacco Sector Earnings

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

5
37
0
579
107

8
55
19
488
-15

-32%
-33%
-102%
19%
823%

8
16
-2
-324
79

8,542

6,640

29%

6,697

600
182
-15
-140

545
-52
-12
282

10%
453%
-20%
-150%

660
135
-330
44

627

762

-18%

508

-14
-196
567
-162
178
370
222
-14
523
415
116
2,178
573
84
420
162
-116
891

-12
-63
1,347
-134
104
-164
173
23
367
247
61
2,143
420
41
747
147
52
493

-17%
-211%
-58%
-21%
71%
325%
28%
-158%
43%
68%
91%
2%
36%
106%
-44%
11%
-324%
81%

-29
313
608
223
-138
556
216
-255
887
772
100
5,222
359
313
1,384
98
-126
903

6,199

5,992

3%

11,406

196
-26
-94
302
-25
-13
-4
-42

285
-2
-116
337
-25
6
-8
-58

-31%
-1078%
19%
-10%
0%
-313%
48%
27%

1,100
104
-145
504
-6
-10
-8
70

-35%
132%
86%
279%
36%

5
37
0
579
186

8
55
19
488
54

-32%
-33%
-102%
19%
244%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR
0.13
0.48
0.54
16.37
12.75

3.01
4.25
30.09
106.32
53.93

4 Qtr Trailing
ROE
4%
11%
2%
15%
24%

28% Sector Multiples

PER (x) PBV (x)

23.1x
9.2x
72.4x
40.4x
10.0x

1.0x
1.0x
1.3x
6.2x
2.4x

20.4x

3.9x

10.6x
22.9x
N/A
23.7x

1.6x
1.1x
0.9x
1.3x

16.8x

2.5x

N/A
N/A
33.9x
29.5x
5.7x
21.2x
18.0x
N/A
9.9x
25.0x
31.6x
15.0x
9.6x
19.2x
12.5x
15.7x
N/A
8.5x

1.2x
0.5x
1.8x
0.6x
2.6x
1.7x
1.5x
0.4x
0.9x
2.6x
1.6x
1.6x
1.7x
1.7x
1.2x
1.5x
1.0x
0.8x

18.8x

1.4x

12.5x
19.4x
N/A
17.5x
N/A
N/A
N/A
45.2x

1.6x
1.3x
0.7x
1.3x
2.3x
1.3x
2.0x
0.7x

Construction & Engineering

ACCESS ENGINEERING PLC
COLOMBO DOCKYARD PLC
LANKEM DEVELOPMENTS PLC
MTD WALKERS PLC

AEL.N0000
DOCK.N0000
LDEV.N0000
KAPI.N0000

25.80
168.00
6.70
63.60

1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar

Construction & Engineering Sector Earnings

-9%
35%
96%
-416%

600
317
-15
-140

545
79
-12
282

10%
299%
-20%
-150%

2.43
7.34
-8.20
2.68

16.62
154.09
7.73
47.16

15%
5%
-106%
6%

23% Sector Multiples

Diversified Holdings
ADAM INVESTMENTS LIMITED
BROWNS INVESTMENTS PLC
CARSONS CUMBERBATCH PLC
THE COLOMBO FORT LAND & BUILDING COM: PLC
DUNAMIS CAPITAL PLC
C T HOLDINGS PLC
EXPOLANKA HOLDINGS PLC
FREE LANKA CAPITAL HOLDINGS PLC
HAYLEYS PLC
HEMAS HOLDINGS PLC
FINLAYS COLOMBO PLC
JOHN KEELLS HOLDINGS PLC
RICHARD PIERIS AND COMPANY PLC
SOFTLOGIC HOLDINGS PLC
AITKEN SPENCE PLC
SUNSHINE HOLDINGS PLC
TAPROBANE HOLDINGS
VALLIBEL ONE PLC

AINV.N0000
BIL.N0000
CARS.N0000
CFLB.N0000
CSEC.N0000
CTHR.N0000
EXPO.N0000
FLCH.N0000
HAYL.N0000
HHL.N0000
JFIN.N0000
JKH.N0000
RICH.N0000
SHL.N0000
SPEN.N0000
SUN.N0000
TAP.N0000
VONE.N0000

2.70
1.70
400.00
26.10
31.80
163.60
8.60
1.50
360.00
91.60
274.00
189.50
8.60
16.70
99.90
59.00
5.10
25.60

2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

Diversified Holdings Sector Earnings

52%
-163%
-7%
-173%
229%
-33%
3%
95%
-41%
-46%
16%
-58%
60%
-73%
-70%
66%
8%
-1%

-42
-196
567
-162
178
370
222
-14
523
415
216
2,178
573
84
420
162
-116
891

N/A
-63
1,347
-134
104
-164
173
23
367
247
143
2,143
420
41
747
147
52
493

N/A
-211%
-58%
-21%
71%
325%
28%
-158%
43%
68%
51%
2%
36%
106%
-44%
11%
-324%
81%

-0.18
-0.04
11.80
0.89
5.57
7.73
0.48
-0.76
36.50
3.66
8.68
12.61
0.90
0.87
8.01
3.76
-0.08
3.00

2.29
3.71
227.15
43.47
12.36
96.62
5.56
4.15
388.78
35.16
168.99
121.84
5.16
9.77
85.26
40.44
4.88
32.89

-8%
-1%
5%
2%
45%
8%
9%
-18%
9%
10%
5%
10%
17%
9%
9%
9%
-2%
9%

-46% Sector Multiples

Hotels and Travels

AITKEN SPENCE HOTEL HOLDINGS PLC
AMAYA LEISURE PLC
ANILANA HOTELS AND PROPERTIES LIMITED
ASIAN HOTELS & PROPERTIES PLC
BERUWALA RESORTS
BROWNS BEACH HOTELS PLC
BANSEI ROYAL RESORTS HIKKADUWA LIMITED
CEYLON HOTELS CORPORATION PLC

Page 3

AHUN.N0000
CONN.N0000
ALHP.N0000
AHPL.N0000
BERU.N0000
BBH.N0000
BRR.N0000
CHOT.N0000

80.00
78.50
4.80
68.00
1.80
36.00
10.60
25.00

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

-82%
-125%
35%
-40%
-287%
-31%
51%
-160%

196
-26
-94
302
-25
-13
-4
-42

285
-2
-116
337
-25
6
-8
-58

-31%
-1078%
19%
-10%
0%
-313%
48%
27%

6.38
4.04
-0.97
3.89
-0.11
-0.27
-0.53
0.55

50.26
62.38
6.73
51.99
0.79
27.29
5.36
35.03

13%
6%
-14%
7%
-14%
-1%
-10%
2%

FC RESEARCH

Quarter Earnings LKR 'mn

Company
CITRUS LEISURE PLC
DOLPHIN HOTELS PLC
EDEN HOTEL LANKA PLC
GALADARI HOTELS (LANKA) PLC
HIKKADUWA BEACH RESORT LIMITED
HOTEL DEVELOPERS (LANKA) PLC
HOTEL SERVICES (CEYLON) PLC
HOTEL SIGIRIYA PLC
HUNAS FALLS HOTELS PLC
JOHN KEELLS HOTELS PLC
KALPITIYA BEACH RESORT LIMITED
KANDY HOTELS COMPANY (1938) PLC
MAHAWELI REACH HOTELS PLC
MARAWILA RESORTS PLC
PALM GARDEN HOTELS PLC
PEGASUS HOTELS OF CEYLON PLC
RAMBODA FALLS
RENUKA CITY HOTEL PLC
ROYAL PALMS BEACH HOTELS PLC
SERENDIB HOTELS PLC
SIGIRIYA VILLAGE HOTELS PLC
TAJ LANKA HOTELS PLC
TANGERINE BEACH HOTELS PLC
THE FORTRESS RESORTS PLC
THE LIGHTHOUSE HOTEL PLC
THE NUWARA ELIYA HOTELS COMPANY PLC
TRANS ASIA HOTELS PLC
WASKADUWA BEACH RESORT LIMITED

Mkt Price
Stock Code
LKR
REEF.N0000
STAF.N0000
EDEN.N0000
GHLL.N0000
CITH.N0000
HDEV.N0000
SERV.N0000
HSIG.N0000
HUNA.N0000
KHL.N0000
CITK.N0000
KHC.N0000
MRH.N0000
MARA.N0000
PALM.N0000
PEG.N0000
RFL.N0000
RENU.N0000
RPBH.N0000
SHOT.N0000
SIGV.N0000
TAJ.N0000
TANG.N0000
RHTL.N0000
LHL.N0000
NEH.N0000
TRAN.N0000
CITW.N0000

13.00
54.50
21.40
13.00
15.20
94.80
17.20
106.40
60.00
16.70
3.50
8.60
24.00
3.10
47.00
40.20
29.70
389.90
38.00
39.20
64.10
31.00
85.60
16.50
62.10
1,440.70
93.00
6.40

Qtr

1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

Hotels and Travels Sector Earnings

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

-129
29
-111
-3
-1
-104
54
5
-7
131
-17
2
-17
-18
-60
20
4
69
-4
-20
-2
-38
-15
0
0
23
-32
-87

-37
16
-124
10
-6
42
21
-3
1
129
-29
30
-13
-29
-100
19
1
61
-17
-1
-3
-85
-17
16
6
41
65
-4

-243%
86%
10%
-135%
81%
-350%
155%
277%
-738%
2%
41%
-93%
-30%
39%
40%
1%
203%
12%
78%
-2690%
45%
55%
14%
-99%
-94%
-43%
-150%
-2236%

-96
71
5
66
51
-23
78
34
0
965
-26
39
33
-3
-40
17
15
69
38
139
-19
19
37
101
73
86
207
-184

-36

408

-109%

3,361

-9
35
35

51
5
4

-118%
653%
770%

-155
36
18

62

59

4%

-100

88
296
121
57
208

84
261
60
47
67

5%
14%
100%
23%
209%

69
655
2
-35
163

771

519

49%

853

-34%
-59%
-2326%
-105%
-102%
-357%
-31%
-86%
-2647%
-86%
34%
-95%
-151%
-434%
-49%
12%
-75%
0%
-110%
-114%
91%
-295%
-140%
-100%
-99%
-73%
-116%
53%

-129
29
-111
63
-1
-104
54
5
-7
131
-17
2
-17
-18
-60
20
4
69
-4
-20
-2
-38
-15
0
0
23
-32
-87

-37
16
-124
100
-6
42
21
-3
1
129
-29
30
-13
-29
-100
19
1
61
-17
-1
-3
-85
-17
16
6
41
65
-4

-243%
86%
10%
-37%
81%
-350%
155%
277%
-738%
2%
41%
-93%
-30%
39%
40%
1%
203%
12%
78%
-2690%
45%
55%
14%
-99%
-94%
-43%
-150%
-2236%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR
-3.89
28.08
5.35
41.73
-4.90
41.84
0.35
17.97
1.23
19.79
0.05
6.60
1.34
8.33
11.73
51.26
-0.93
58.73
1.27
14.07
-0.59
8.03
0.20
10.65
1.05
20.91
-0.31
3.53
-5.82
75.65
3.16
48.59
1.48
13.91
59.46 637.62
0.72
34.65
1.64
18.74
-1.19
67.81
-0.96
11.17
2.47 129.77
1.68
12.66
2.69
51.64
125.70 1,464.67
2.44
27.78
-2.85
7.64

4 Qtr Trailing
ROE

PER (x) PBV (x)

-14% N/A
13% 10.2x
-12% N/A
2% 37.1x
6% 12.4x
1% 1861.8x
16% 12.8x
23% 9.1x
-2% N/A
9% 13.1x
-7% N/A
2% 42.3x
5% 22.8x
-9% N/A
-8% N/A
6% 12.7x
11% 20.1x
9% 6.6x
2% 52.7x
9% 24.0x
-2% N/A
-9% N/A
2% 34.7x
13% 9.8x
5% 23.0x
9% 11.5x
9% 38.2x
-37% N/A

-101% Sector Multiples

0.5x
1.3x
0.5x
0.7x
0.8x
14.4x
2.1x
2.1x
1.0x
1.2x
0.4x
0.8x
1.1x
0.9x
0.6x
0.8x
2.1x
0.6x
1.1x
2.1x
0.9x
2.8x
0.7x
1.3x
1.2x
1.0x
3.3x
0.8x

54.1x

2.4x

N/A
32.6x
30.8x

0.8x
1.9x
1.1x

46.2x

1.2x

20.9x
16.8x
13.8x
46.0x
19.0x

2.5x
3.9x
1.3x
1.1x
2.5x

18.5x

2.5x

Footwear & Textiles

CEYLON LEATHER PRODUCTS PLC
HAYLEYS MGT KNITTING MILLS PLC
ODEL PLC

CLPL.N0000
MGT.N0000
ODEL.N0000

82.00
19.00
21.80

1Q-Mar
1Q-Mar
1Q-Mar

Footwear & Textiles Sector Earnings

94%
-3%
99%

-9
35
35

51
5
4

-118%
653%
770%

-1.16
0.58
0.71

99.17
10.27
19.55

-1%
6%
4%

161% Sector Multiples

Healthcare
ASIRI SURGICAL HOSPITAL PLC
ASIRI HOSPITAL HOLDINGS PLC
CEYLON HOSPITALS PLC (DURDANS)
NAWALOKA HOSPITALS PLC
THE LANKA HOSPITAL CORPORATION PLC
Healthcare Sector Earnings

Page 4

AMSL.N0000
ASIR.N0000
CHL.N0000
NHL.N0000
LHCL.N0000

15.40
22.40
107.00
3.10
52.70

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec

27%
-55%
7444%
262%
28%

88
296
121
57
371

-10% Sector Multiples

84
261
60
47
212

5%
14%
100%
23%
76%

0.74
1.33
7.73
0.07
2.78

6.23
5.78
82.87
2.80
21.20

12%
23%
9%
2%
13%

FC RESEARCH

Quarter Earnings LKR 'mn

Company

Mkt Price
Stock Code
LKR

Qtr

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR

4 Qtr Trailing
ROE

PER (x) PBV (x)

Information Technology
E-CHANNELLING PLC

ECL.N0000

13.30

1Q-Mar

Information Technology Sector Earnings

20

28

-29%

26

-24%

20

28

20

28

-29%

26

-24% Sector Multiples

-9
197
143
24
15
-103
1
65
25

-4
540
351
-5
32
56
127
50
57

-163%
-64%
-59%
622%
-54%
-284%
-100%
30%
-57%

-8
4
-59
-14
-45
-86
44
59
8

357

1,205

-70%

-97

66
14
-9
-9
25
22
13
1
2
-29
21
709
98
3
22
5

51
63
-15
-11
31
23
14
3
-12
4
22
675
94
3
19
1

29%
-78%
39%
20%
-19%
-4%
-5%
-68%
120%
-900%
-2%
5%
3%
17%
15%
332%

116
14
6
0
26
321
115
-4
81
-3
23
750
97
60
29
4

956

965

-1%

1,634

15
264
31
-24
54
6
56

13
31
17
-26
40
-2
63

21%
763%
82%
7%
35%
349%
-11%

42
435
36
-28
15
12
131

-29%

0.88

0.95

93%

15.0x

14.0x

N/A

5.5x

N/A
13.7x
12.3x
6.6x
14.4x
N/A
19.3x
11.0x
22.5x

0.8x
0.7x
0.7x
0.5x
0.6x
0.6x
1.7x
0.7x
0.7x

16.2x

0.7x

9.8x
15.6x
N/A
N/A
4.6x
4.8x
12.0x
N/A
8.8x
N/A
12.7x
7.2x
14.5x
8.8x
21.7x
17.7x

0.8x
0.6x
2.3x
1.9x
0.8x
0.8x
2.2x
1.9x
1.5x
8.1x
0.8x
0.8x
1.7x
2.1x
0.5x
1.2x

10.7x

0.9x

Investment Trusts
ASCOT HOLDINGS PLC
CEYLON GUARDIAN INVESTMENT TRUST PLC
CEYLON INVESTMENT PLC
COLOMBO FORT INVESTMENTS PLC
COLOMBO INVESTMENT TRUST PLC
ENVIRONMENTAL RESOURCES INVESTMENTS PLC
GUARDIAN CAPITAL PARTNERS PLC
RENUKA HOLDINGS PLC
LEE HEDGES PLC

ASCO.N0000
GUAR.N0000
CINV.N0000
CFI.N0000
CIT.N0000
GREG.N0000
WAPO.N0000
RHL.N0000
SHAW.N0000

38.60
193.20
96.20
95.70
125.00
13.40
42.80
30.80
479.60

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

Investment Trusts Sector Earnings

-21%
4670%
344%
264%
133%
-19%
-99%
11%
190%

-9
197
143
24
15
-103
1
65
25

-4
540
351
-5
32
56
127
50
57

-163%
-64%
-59%
622%
-54%
-284%
-100%
30%
-57%

-1.36
14.09
7.84
14.58
8.71
-0.41
2.22
2.80
21.31

49.52
273.71
132.52
202.51
216.96
22.56
24.99
44.71
668.17

-3%
5%
6%
7%
4%
-2%
9%
6%
3%

467% Sector Multiples

Land and Property

C T LAND DEVELOPMENT PLC
CARGO BOAT DEVELOPMENT COMPANY PLC
CITY HOUSING & REAL ESTATE CO. PLC
COLOMBO LAND & DEVELOPMENT COMPANY PLC
COMMERCIAL DEVELOPMENT COMPANY PLC
EQUITY ONE PLC
EQUITY TWO PLC
SERENDIB ENGINEERING GROUP PLC
MILLENNIUM HOUSING DEVELOPERS PLC
KELSEY DEVELOPMENTS PLC
ON'ALLY HOLDINGS PLC
OVERSEAS REALTY (CEYLON) PLC
PROPERTY DEVELOPMENT PLC
SERENDIB LAND PLC
SEYLAN DEVELOPMENTS PLC
YORK ARCADE HOLDINGS PLC

CTLD.N0000
CABO.N0000
CHOU.N0000
CLND.N0000
COMD.N0000
EQIT.N0000
ETWO.N0000
IDL.N0000
MHDL.N0000
KDL.N0000
ONAL.N0000
OSEA.N0000
PDL.N0000
SLND.N0000
CSD.N0000
YORK.N0000

51.40
131.30
18.80
27.80
105.00
46.40
58.60
12.70
8.40
60.30
64.90
24.50
90.00
1,713.00
15.00
17.10

1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
2Q-Dec
1Q-Mar
2Q-Dec
1Q-Mar

Land and Property Sector Earnings

-43%
-1%
-248%
-3985%
-3%
-93%
-89%
122%
-97%
-905%
-9%
-5%
1%
-94%
-23%
34%

66
14
-9
-9
50
22
13
1
2
-29
21
1,459
194
3
51
5

51
63
-15
-21
52
23
14
3
-12
4
22
1,394
191
3
49
1

29%
-78%
39%
58%
-4%
-4%
-5%
-68%
120%
-900%
-2%
5%
2%
17%
5%
332%

5.23
8.42
-1.68
-0.18
22.78
9.57
4.87
-0.50
0.96
-3.66
5.10
3.41
6.23
193.94
0.69
0.97

60.95
226.24
8.08
14.53
128.62
56.04
26.85
6.64
5.48
7.42
76.81
30.52
52.56
826.15
28.80
14.31

-41% Sector Multiples

9%
4%
-21%
-1%
18%
17%
18%
-8%
17%
-49%
7%
11%
12%
23%
2%
7%

Manufacturing
ABANS ELECTRICALS PLC
ACL CABLES PLC
ACL PLASTICS PLC
ACME PRINTING & PACKAGING PLC
AGSTAR FERTILIZERS LIMITED
ALUFAB PLC
ALUMEX PLC

Page 5

ABAN.N0000
ACL.N0000
APLA.N0000
ACME.N0000
AGST.N0000
ALUF.N0000
ALUM.N0000

153.00
120.00
158.30
9.60
7.00
56.50
18.60

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

-63%
-39%
-12%
13%
266%
-52%
-57%

15
264
31
-24
54
6
56

13
31
17
-26
40
-2
63

21%
763%
82%
7%
35%
349%
-11%

17.32
18.45
24.22
-5.34
0.71
0.41
1.57

142.90
127.82
196.67
16.14
7.92
22.71
5.58

12% 8.8x
14% 6.5x
12% 6.5x
-33% N/A
9% 9.9x
2% 136.5x
28% 11.8x

1.1x
0.9x
0.8x
0.6x
0.9x
2.5x
3.3x

FC RESEARCH

Quarter Earnings LKR 'mn

Company
BLUE DIAMONDS JEWELLERY WORLDWIDE PLC
BOGALA GRAPHITE LANKA PLC
CENTRAL INDUSTRIES PLC
CEYLON GRAIN ELEVATORS PLC
CHEVRON LUBRICANTS LANKA PLC
DANKOTUWA PORCELAIN PLC
DIPPED PRODUCTS PLC
HAYLEYS FIBRE PLC
KELANI CABLES PLC
KELANI TYRES PLC
LANKA ALUMINIUM INDUSTRIES PLC
LANKA CERAMIC PLC
LANKA FLOORTILES PLC
LANKA WALLTILES PLC
LAXAPANA BATTERIES PLC
PIRAMAL GLASS CEYLON PLC
PRINTCARE PLC
REGNIS(LANKA) PLC
RICHARD PIERIS EXPORTS PLC
ROYAL CERAMICS LANKA PLC
SAMSON INTERNATIONAL PLC
SINGER INDUSTRIES (CEYLON) PLC
SIERRA CABLES PLC
SWADESHI INDUSTRIAL WORKS PLC
SWISSTEK (CEYLON) PLC
TEXTURED JERSEY LANKA PLC
TOKYO CEMENT COMPANY (LANKA) PLC

Mkt Price
Stock Code
LKR

Qtr

BLUE.N0000
1.30
1Q-Mar
BOGA.N0000
32.20
2Q-Dec
CIND.N0000
113.70 1Q-Mar
GRAN.N0000
85.00
2Q-Dec
LLUB.N0000
404.40
2Q-Dec
DPL.N0000
11.80
1Q-Mar
DIPD.N0000
139.80 1Q-Mar
HEXP.N0000
44.30
1Q-Mar
KCAB.N0000
120.00 1Q-Mar
TYRE.N0000
83.00
1Q-Mar
LALU.N0000
103.20 1Q-Mar
CERA.N0000
132.00 1Q-Mar
TILE.N0000
117.00 1Q-Mar
LWL.N0000
118.00 1Q-Mar
LITE.N0000
7.30
1Q-Mar
GLAS.N0000
7.00
1Q-Mar
CARE.N0000
43.00
1Q-Mar
REG.N0000
205.00
2Q-Dec
REXP.N0000
220.10 1Q-Mar
RCL.N0000
127.50 1Q-Mar
SIL.N0000
118.10 1Q-Mar
SINI.N0000
199.90
2Q-Dec
SIRA.N0000
4.70
1Q-Mar
SWAD.N0000 13,500.00 1Q-Mar
PARQ.N0000
57.10
1Q-Mar
TJL.N0000
32.30
1Q-Mar
TKYO.N0000
55.60
1Q-Mar

Manufacturing Sector Earnings

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

-22
-19
34
155
797
-20
132
-6
70
164
15
128
196
180
8
147
90
81
105
562
21
-1
65
-1
27
206
466

-12
11
13
31
675
5
231
3
25
141
11
85
121
132
4
86
62
24
72
161
24
-3
11
1
21
164
524

-79%
-278%
158%
394%
18%
-528%
-43%
-333%
176%
16%
38%
50%
62%
36%
99%
70%
44%
238%
46%
249%
-13%
64%
477%
-165%
28%
26%
-11%

-22
11
36
168
743
-111
260
2
175
165
20
129
307
375
4
209
40
73
40
853
-18
10
-59
22
87
512
425

3%
-275%
-4%
-8%
7%
82%
-49%
-433%
-60%
-1%
-23%
-1%
-36%
-52%
105%
-30%
124%
11%
160%
-34%
219%
-112%
209%
-104%
-69%
-60%
10%

-22
-8
34
323
1,540
-20
132
-6
70
164
15
128
196
180
8
147
90
154
105
562
21
9
65
-1
27
206
466

-12
41
13
25
1,439
5
231
3
25
141
11
85
121
132
4
86
62
58
72
161
24
2
11
1
21
164
524

3,983

2,759

44%

5,097

57
228
15
63
15
351

128
30
15
36
9
193

-55%
655%
0%
73%
61%
82%

-45
263
-26
107
7
539

226%
-13%
157%
-41%
121%
-35%

729

411

77%

845

-14% Sector Multiples

24
20
375
44

50
31
1,127
27

-51%
-35%
-67%
62%

-1
-1
564
-3

-79%
-120%
158%
1219%
7%
-528%
-43%
-333%
176%
16%
38%
50%
62%
36%
99%
70%
44%
167%
46%
249%
-13%
358%
477%
-165%
28%
26%
-11%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR
-0.16
0.91
0.54
5.52
15.31 116.15
6.33
52.91
23.73
51.16
-1.51
12.55
16.93 131.12
-0.72
57.08
17.71 126.79
9.18
39.49
10.91
64.92
21.06 140.20
17.26
81.10
19.99 122.24
0.47
4.07
0.53
3.97
3.38
31.31
22.26
95.36
26.91
48.43
22.89 110.36
4.22 117.01
2.78 259.82
0.58
2.82
97.44 1,096.23
8.68
39.95
2.08
10.98
5.13
31.27

4 Qtr Trailing
ROE

PER (x) PBV (x)

-18% N/A
10% 59.1x
13% 7.4x
12% 13.4x
46% 17.0x
-12% N/A
13% 8.3x
-1% N/A
14% 6.8x
23% 9.0x
17% 9.5x
15% 6.3x
21% 6.8x
16% 5.9x
12% 15.5x
13% 13.3x
11% 12.7x
23% 9.2x
56% 8.2x
21% 5.6x
4% 28.0x
1% 71.8x
21% 8.1x
9% 138.5x
22% 6.6x
19% 15.5x
16% 10.8x

-22% Sector Multiples

1.4x
5.8x
1.0x
1.6x
7.9x
0.9x
1.1x
0.8x
0.9x
2.1x
1.6x
0.9x
1.4x
1.0x
1.8x
1.8x
1.4x
2.1x
4.5x
1.2x
1.0x
0.8x
1.7x
12.3x
1.4x
2.9x
1.8x

10.8x

1.9x

9.1x
8.4x
15.4x
6.5x
22.5x
5.3x

0.6x
0.7x
1.9x
1.4x
1.1x
0.7x

9.0x

1.0x

Motors
COLONIAL MOTORS PLC
DIESEL & MOTOR ENGINEERING PLC
LANKA ASHOK LEYLAND PLC
SATHOSA MOTORS PLC
THE AUTODROME PLC
UNITED MOTORS LANKA PLC

COLO.N0000
DIMO.N0000
ASHO.N0000
SMOT.N0000
AUTO.N0000
UML.N0000

142.60
749.70
1,411.60
309.80
872.10
111.80

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

Motors Sector Earnings

57
228
15
63
15
351

128
30
15
36
9
193

-55%
655%
0%
73%
61%
82%

15.60 250.18
89.48 1,046.50
91.76 758.11
47.74 214.46
38.81 824.22
21.12 159.79

6%
9%
12%
22%
5%
13%

Oil Palms
SELINSING PLC
SHALIMAR (MALAY) PLC
THE BUKIT DARAH PLC
THE GOOD HOPE PLC

Page 6

SELI.N0000
SHAL.N0000
BUKI.N0000
GOOD.N0000

1,500.00
2,275.00
670.00
1,601.00

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

2724%
2163%
-33%
1471%

24
20
375
44

50
31
1,127
27

-51%
-35%
-67%
62%

11.68 1,100.70
7.97 822.25
14.10 274.67
10.82 887.18

1% 128.4x
1% 285.3x
5% 47.5x
1% 148.0x

1.4x
2.8x
2.4x
1.8x

FC RESEARCH

Quarter Earnings LKR 'mn

Company
THE INDO MALAY PLC

Mkt Price
Stock Code
LKR
INDO.N0000

1,659.00

Qtr

1Q-Mar

Oil Palms Sector Earnings

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

14

20

-34%

-5

355%

14

20

477

1,255

-62%

554

-90
38
-76
29
52
-46
-49
0
30
-29
-183
-32
-32
-96
22
16
10
-6
131

6
80
57
32
88
81
23
29
42
-20
-214
60
90
24
24
59
40
71
231

-1577%
-52%
-232%
-8%
-41%
-157%
-310%
-100%
-30%
-51%
15%
-152%
-135%
-499%
-8%
-74%
-76%
-108%
-43%

-271
95
-102
-39
138
-81
31
-43
64
10
-7
-33
-59
-95
-37
9
61
-23
-1

-313

805

-139%

-385

75
-4
171
326
-6
53
186
119

-69
-11
1,202
329
-6
21
150
40

209%
61%
-86%
-1%
4%
157%
24%
195%

19
0
-1,066
369
-4
21
8
-1

920

1,655

-44%

-655

241% Sector Multiples

25
6
53
6
9

33
15
67
6
-29

-23%
-62%
-21%
-8%
130%

26
5
21
7
-513

-2%
18%
153%
-12%
102%

98

92

7%

-455

122% Sector Multiples

-34%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR
6.13

842.58

4 Qtr Trailing
ROE

PER (x) PBV (x)

1% 270.6x

-14% Sector Multiples

69.3x

2.0x
2.2x

Plantations
AGALAWATTE PLANTATIONS PLC
AITKEN SPENCE PLANTATION MANAGEMENTS PLC
BALANGODA PLANTATIONS PLC
BOGAWANTALAWA TEA ESTATES PLC
ELPITIYA PLANTATIONS PLC
HAPUGASTENNE PLANTATIONS PLC
HORANA PLANTATIONS PLC
KAHAWATTE PLANTATIONS PLC
KEGALLE PLANTATIONS PLC
KELANI VALLEY PLANTATIONS PLC
KOTAGALA PLANTATIONS PLC
MADULSIMA PLANTATIONS PLC
MALWATTE VALLEY PLANTATIONS PLC
MASKELIYA PLANTATIONS PLC
METROPOLITAN RESOURCE HOLDINGS PLC
NAMUNUKULA PLANTATIONS PLC
TALAWAKELLE TEA ESTATES PLC
UDAPUSSELLAWA PLANTATIONS PLC
WATAWALA PLANTATIONS PLC

AGAL.N0000
ASPM.N0000
BALA.N0000
BOPL.N0000
ELPL.N0000
HAPU.N0000
HOPL.N0000
KAHA.N0000
KGAL.N0000
KVAL.N0000
KOTA.N0000
MADU.N0000
MAL.N0000
MASK.N0000
MPRH.N0000
NAMU.N0000
TPL.N0000
UDPL.N0000
WATA.N0000

23.40
45.50
20.50
11.50
21.30
31.70
23.00
33.90
83.00
69.90
24.50
9.80
3.80
10.60
29.60
69.30
36.70
28.10
24.70

2Q-Dec
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
2Q-Dec
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar

Plantations Sector Earnings

67%
-59%
26%
174%
-62%
42%
-259%
100%
-53%
-389%
-2694%
5%
47%
-1%
159%
72%
-84%
74%
11061%

-361
38
-178
29
52
-127
-49
-43
30
-29
-183
-65
-91
-96
22
16
10
-29
131

-51
80
80
32
88
99
23
57
42
-20
-214
47
104
24
24
59
40
94
231

-601%
-52%
-321%
-8%
-41%
-229%
-310%
-175%
-30%
-51%
15%
-239%
-188%
-499%
-8%
-74%
-76%
-131%
-43%

-21.64
10.94
-15.22
1.01
4.44
-0.92
-0.43
0.07
8.60
0.23
-11.10
-9.01
-0.48
-5.64
2.86
4.98
7.36
-1.88
1.30

26.93
102.12
103.39
13.41
44.14
42.77
54.45
13.29
145.34
77.40
55.04
52.08
12.35
21.00
47.08
93.03
69.45
37.52
18.69

-80% N/A
11% 4.2x
-15% N/A
7% 11.4x
10% 4.8x
-2% N/A
-1% N/A
1% 476.3x
6% 9.7x
0% 305.2x
-20% N/A
-17% N/A
-4% N/A
-27% N/A
6% 10.3x
5% 13.9x
11% 5.0x
-5% N/A
7% 19.0x

19% Sector Multiples

0.9x
0.4x
0.2x
0.9x
0.5x
0.7x
0.4x
2.6x
0.6x
0.9x
0.4x
0.2x
0.3x
0.5x
0.6x
0.7x
0.5x
0.7x
1.3x

N/A

0.7x

35.6x
10.2x
25.2x
11.3x
N/A
9.2x
8.7x
11.7x

1.2x
1.2x
1.2x
2.2x
0.8x
1.7x
3.1x
3.3x

13.3x

1.5x

8.8x
11.5x
27.2x
16.7x
N/A

1.2x
2.4x
1.7x
1.2x
-0.9x

N/A

1.8x

Power and Energy

HEMAS POWER PLC
F L C HYDRO POWER PLC
LANKA IOC PLC
LAUGFS GAS PLC
MACKWOODS ENERGY
PANASIAN POWER PLC
VALLIBEL POWER ERATHNA PLC
VIDULLANKA PLC

HPWR.N0000
HPFL.N0000
LIOC.N0000
LGL.N0000
MEL.N0000
PAP.N0000
VPEL.N0000
VLL.N0000

23.90
7.60
40.20
42.20
6.00
3.70
9.80
10.70

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

Power and Energy Sector Earnings

299%
-1961%
116%
-12%
-45%
155%
2157%
10138%

75
-4
171
326
-6
53
186
119

-69
-11
1,202
329
-6
21
150
40

209%
61%
-86%
-1%
4%
157%
24%
195%

0.67
0.75
1.60
3.73
-0.06
0.40
1.13
0.92

19.67
6.60
34.36
19.25
7.42
2.22
3.12
3.28

3%
11%
5%
19%
-1%
18%
36%
28%

Services
ASIA SIYAKA COMMODITIES LIMITED
CEYLON TEA BROKERS PLC
JOHN KEELLS PLC
LAKE HOUSE PRINTERS AND PUBLISHERS PLC
MERCANTILE SHIPPING COMPANY PLC
Services Sector Earnings

Page 7

ASIY.N0000
CTBL.N0000
JKL.N0000
LPRT.N0000
MSL.N0000

3.50
4.60
91.00
120.00
107.20

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

25
6
53
6
9

33
15
67
6
-29

-23%
-62%
-21%
-8%
130%

0.40
0.40
3.35
7.20
-196.08

2.85
1.91
53.95
101.64
-118.04

14%
21%
6%
7%
N/A

FC RESEARCH

Quarter Earnings LKR 'mn

Company

Mkt Price
Stock Code
LKR

Qtr

Cum. Earnings LKR 'mn

1QFY16

1QFY15

YoY%

3QFY14

QoQ%

YTD FY16

YTD FY15

YoY%

2Q2015

2Q2014

YoY%

4Q2014

QoQ%

YTD 2015

YTD 2014

YoY%

1H2015

1H2014

YoY%

1H2014

HoH%

YTD 2015

YTD 2014

YoY%

4 Qtr
NAVPS
Trailing
LKR
EPS LKR

4 Qtr Trailing
ROE

PER (x) PBV (x)

Stores & Supplies

COLOMBO PHARMACY COMPANY PLC
E B CREASY & COMPANY PLC
GESTETNER OF CEYLON PLC
HUNTERS & COMPANY LIMITED

PHAR.N0000
EBCR.N0000
GEST.N0000
HUNT.N0000

640.70
1,150.00
153.50
433.30

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar

Stores & Supplies Sector Earnings

9
9
-3
27

1
-85
5
-35

1120%
111%
-158%
177%

62
87
5
51

42

-115

137%

204

1,907
1,797

1,657
2,421

15%
-26%

1,982
1,602

3,704

4,078

-9%

3,584

36
56
2
0
363
-9
1

126
30
7
-2
117
-26
-7

-72%
88%
-73%
113%
211%
65%
120%

240
73
715
-7
254
221
-9

450

245

84%

1,488

-86%
-89%
-165%
-46%

9
9
-3
27

1
-85
5
-35

1120%
111%
-158%
177%

95.19 861.97
54.07 1,210.26
16.11
77.60
30.08 992.60

11%
4%
21%
3%

-79% Sector Multiples

6.7x
21.3x
9.5x
14.4x

0.7x
1.0x
2.0x
0.4x

14.0x

0.7x

13.5x
13.2x

2.0x
1.3x

13.3x

1.6x

6.8x
10.6x
1.4x
N/A
16.7x
8.2x
N/A

0.5x
1.2x
0.7x
6.9x
3.1x
0.9x
1.7x

9.4x

1.2x

16.0x

1.8x

Telecommunications
DIALOG AXIATA PLC
SRI LANKA TELECOM PLC

DIAL.N0000
SLTL.N0000

11.70
46.90

2Q-Dec
2Q-Dec

Telecommunications Sector Earnings

-4%
12%

3,888
3,477

2,926
2,968

33%
17%

0.87
3.56

5.85
36.35

15%
10%

3% Sector Multiples

Trading
BROWN & COMPANY PLC
C. W. MACKIE PLC
CEYLON & FOREIGN TRADES PLC
RADIANT GEMS INTERNATIONAL PLC
SINGER SRI LANKA PLC
EASTERN MERCHANTS PLC
TESS AGRO PLC
Trading Sector Earnings

BRWN.N0000
CWM.N0000
CFT.N0000
RGEM.N0000
SINS.N0000
EMER.N0000
TESS.N0000

118.20
61.70
7.50
40.00
145.00
10.90
1.80

1Q-Mar
1Q-Mar
1Q-Mar
1Q-Mar
2Q-Dec
1Q-Mar
1Q-Mar

-85%
-24%
-100%
105%
43%
-104%
116%

36
56
2
0
617
-9
1

126
30
7
-2
247
-26
-7

-72%
88%
-73%
113%
150%
65%
120%

17.42
5.83
5.18
-5.34
8.66
1.34
-0.11

221.87
49.61
11.24
5.77
46.16
12.21
1.06

-70% Sector Multiples

Market Valuations

8%
12%
46%
-92%
19%
11%
-10%

Market Earnings - June 2015

46,731

42,196

11%

52,923

-12%

No. of Companies that released results

268

Market Earnings - March 2015

52,733

52,312

1%

55,121

-4%

No. of Companies that released results

276

Page 8

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