Professional Documents
Culture Documents
NAME
SUJIT KUMAR DHAR
MD. AYUBUR RAHMAN
MD. ASAD- UZ- JAMAN
MD. SHORAB PATOARY
Submitted to:
Farhana Zahir, CFA, FRM, CAIA,
Lecturer,
Department of Accounting and Finance,
School of Business and Economics,
North South University
ID
1411666030
1410071030
1411166030
1410420030
S/L DSE 30
1 ACI
2 BATASHOE
3 BATBC
4 BEXIMCO
5 BRACBANK
6 BSCCL
7 BSRMLTD
8 BSRMSTEEL
9 BXPHARMA
10 CITYBANK
11 DELTALIFE
12 GP
13 HEIDELBCEM
14 IDLC
15 ISLAMIBANK
16 JAMUNAOIL
17 LAFSURCEML
18 MJLBD
19 MPETROLEUM
20 NBL
21 OLYMPIC
22 ORIONPHARM
23 RAKCERAMIC
24 RENATA
25 SINGERBD
26 SQURPHARMA
27 SUMITPOWER
28 TITASGAS
29 UCB
30 UNIQUEHRL
Basic Information
Company Name Heidelberg Cement Bangladesh Limited
Financial Year End December
Owner Heidelberg cement-Netherlands Holding ( 39.80 % )
Stock Statistics
Market Capitalization (BDT) 30,641,891,434.00
Shareholders Equity (BDT) 577,884,700.00
Book Value Per Share (BDT) 102.27
Forward P/E 14.11
EPS (BDT) 24.81
Audited P/E (x) 21.94
Trading Currency Bangladeshi Taka
Market Category A
Market Lot 1
Last Dividend Declaration Date Sunday, February 28, 2016
AGM Date Wednesday, April 13, 2016
Cash flow
Operating Cash flow / Sales 0.19
Share Capital
Total Shares 56,503,580.00
Paid Up Capital (BDT) 565,035,800.00
Shareholding Pattern
Sponsor/Director 60.67%
Govt. 0%
Institute 25.88%
Foreign 1.68%
Public 11.77%
Growth
Annual Revenue Growth -0.18%
Annual Net Profit Growth 18.86%
Operating Profit Growth 30.26%
k-market/HEIDELBCEM/heidelberg-cement-bangladesh-limited/listFinancialRatioValues.html?page=competition&
?page=competition&companyId=4&goToHomePageParam=true&stockId=4#&slider1=1
Market multiplier model
Sector P/E
Cement 30.85
Decision
Terminal value
1229.31
Technical Analysis
is
ROA ROE
25.15% 39.48%
4.96% 8.21%
2.43% 12.33%
0.82% 3.19%
14.91% 21.93%
5.54% 11.23%
4.11% 12.20%
56,503,580.00
17%
Under valued
BUY
Dividend
45%
50%
380%
380%
300%
18200
16200
14200
12200
10200
82000
62000
42000
22000
2000
182000
162000
142000
122000
Volume
102000
82000
62000
42000
22000
2000
Date Closing Price Return
7-Apr-16 539.1 Maximum Return
10-Apr-16 531.1 -1.48% Minimum Return
11-Apr-16 534.4 0.62% Return Range
12-Apr-16 541.4 1.31% Number of Bins
13-Apr-16 538.8 -0.48% Bins Width
17-Apr-16 538.1 -0.13%
18-Apr-16 534.6 -0.65%
19-Apr-16 526 -1.61% From
20-Apr-16 530.4 0.84% 1
21-Apr-16 538.2 1.47% 2 -1.93%
24-Apr-16 540.3 0.39% 3 -1.65%
25-Apr-16 531.7 -1.59% 4 -1.36%
26-Apr-16 529.9 -0.34% 5 -1.07%
27-Apr-16 526.8 -0.59% 6 -0.78%
28-Apr-16 524.8 -0.38% 7 -0.50%
2-May-16 519.2 -1.07% 8 -0.21%
3-May-16 524.1 0.94% 9 0.08%
4-May-16 521.3 -0.53% 10 0.37%
5-May-16 517.4 -0.75% 11 0.66%
8-May-16 523.6 1.20% 12 0.94%
9-May-16 534.5 2.08% 13 1.23%
10-May-16 535.1 0.11% 14 1.52%
11-May-16 536.6 0.28% 15 1.81%
12-May-16 541.5 0.91% 16 2.09%
15-May-16 533.2 -1.53%
16-May-16 532 -0.23%
17-May-16 529.6 -0.45%
18-May-16 528.5 -0.21%
19-May-16 530.4 0.36%
22-May-16 530.3 -0.02%
24-May-16 526.6 -0.70%
25-May-16 519.3 -1.39%
26-May-16 523.7 0.85%
29-May-16 533.2 1.81%
30-May-16 531.7 -0.28%
31-May-16 537.3 1.05%
1-Jun-16 529.8 -1.40%
2-Jun-16 529.8 0.00%
5-Jun-16 529.7 -0.02%
6-Jun-16 528.1 -0.30%
7-Jun-16 524.9 -0.61%
8-Jun-16 525.5 0.11%
9-Jun-16 525 -0.10%
12-Jun-16 525.4 0.08%
13-Jun-16 522.4 -0.57%
14-Jun-16 521.3 -0.21%
15-Jun-16 521.1 -0.04%
16-Jun-16 519.4 -0.33%
19-Jun-16 518.6 -0.15%
20-Jun-16 516.8 -0.35%
21-Jun-16 517 0.04%
22-Jun-16 516.2 -0.15%
23-Jun-16 517.9 0.33%
26-Jun-16 519.1 0.23%
27-Jun-16 516.4 -0.52%
28-Jun-16 516.7 0.06%
29-Jun-16 517.8 0.21%
30-Jun-16 522.1 0.83%
10-Jul-16 520.3 -0.34%
11-Jul-16 520.4 0.02%
12-Jul-16 522.7 0.44%
13-Jul-16 519.6 -0.59%
14-Jul-16 519.5 -0.02%
16-Jul-16 525.9 1.23%
17-Jul-16 534.2 1.58%
18-Jul-16 529.6 -0.86%
19-Jul-16 527 -0.49%
20-Jul-16 533.5 1.23%
21-Jul-16 534.2 0.13%
24-Jul-16 534.6 0.07%
25-Jul-16 533 -0.30%
26-Jul-16 531.8 -0.23%
27-Jul-16 529.4 -0.45%
28-Jul-16 537.4 1.51%
31-Jul-16 550.2 2.38%
1-Aug-16 558.3 1.47%
2-Aug-16 547.5 -1.93%
3-Aug-16 550.9 0.62%
4-Aug-16 552.2 0.24%
7-Aug-16 549.6 -0.47%
8-Aug-16 548.3 -0.24%
9-Aug-16 549.2 0.16%
10-Aug-16 552.8 0.66%
11-Aug-16 547 -1.05%
14-Aug-16 548.9 0.35%
16-Aug-16 544.4 -0.82%
17-Aug-16 543.9 -0.09%
18-Aug-16 541.2 -0.50%
21-Aug-16 539.5 -0.31%
22-Aug-16 545 1.02%
23-Aug-16 542.1 -0.53%
24-Aug-16 539.5 -0.48%
28-Aug-16 536 -0.65%
29-Aug-16 535 -0.19%
30-Aug-16 534 -0.19%
31-Aug-16 534.9 0.17%
1-Sep-16 538 0.58%
4-Sep-16 534.3 -0.69%
5-Sep-16 532.5 -0.34%
6-Sep-16 532.7 0.04%
7-Sep-16 536.3 0.68%
8-Sep-16 536.1 -0.04%
18-Sep-16 534.4 -0.32%
19-Sep-16 541.4 1.31%
20-Sep-16 542.8 0.26%
21-Sep-16 548 0.96%
22-Sep-16 542.6 -0.99%
24-Sep-16 544.8 0.41%
25-Sep-16 541.9 -0.53%
26-Sep-16 542.7 0.15%
27-Sep-16 539.3 -0.63%
28-Sep-16 542.5 0.59%
29-Sep-16 542.3 -0.04%
2-Oct-16 544.4 0.39%
2.38% Kurtosis 0.479109
-1.93% Skewness 0.383045
4.32%
15
0.002878 Return Distribution
25
To Frequency Frequency
20
-1.93% 1 1
-1.65% 0 0 Frequency
15
-1.36% 6 6
-1.07% 0 0
10
-0.78% 5 5
-0.50% 15 15
-0.21% 21 21 5
0.08% 21 21
0.37% 14 14 0
0.66% 8 8
0.94% 6 6
1.23% 5 5 Return
1.52% 7 7
1.81% 1 1
2.09% 2 2
2.38% 0 0
turn Distribution
Return
Heidelberg DSEX
Date Close Return Date Close
10-Apr-16 531.1 10-Apr-16 4431.13
11-Apr-16 534.4 0.01 11-Apr-16 4401.79
12-Apr-16 541.4 0.01 12-Apr-16 4407.52
13-Apr-16 538.8 0.00 13-Apr-16 4408.64
17-Apr-16 538.1 0.00 17-Apr-16 4393.34
18-Apr-16 534.6 -0.01 18-Apr-16 4391.42
19-Apr-16 526 -0.02 19-Apr-16 4357.63
20-Apr-16 530.4 0.01 20-Apr-16 4359.40
21-Apr-16 538.2 0.01 21-Apr-16 4340.34
24-Apr-16 540.3 0.00 24-Apr-16 4338.25
25-Apr-16 531.7 -0.02 25-Apr-16 4321.63
26-Apr-16 529.9 0.00 26-Apr-16 4281.93
27-Apr-16 526.8 -0.01 27-Apr-16 4238.95
28-Apr-16 524.8 0.00 28-Apr-16 4195.70
2-May-16 519.2 -0.01 2-May-16 4171.41
3-May-16 524.1 0.01 3-May-16 4272.18
4-May-16 521.3 -0.01 4-May-16 4258.20
5-May-16 517.4 -0.01 5-May-16 4306.80
8-May-16 523.6 0.01 8-May-16 4340.07
9-May-16 534.5 0.02 9-May-16 4329.40
10-May-16 535.1 0.00 10-May-16 4330.32
11-May-16 536.6 0.00 11-May-16 4318.45
12-May-16 541.5 0.01 12-May-16 4298.65
15-May-16 533.2 -0.02 15-May-16 4275.48
16-May-16 532 0.00 16-May-16 4288.65
17-May-16 529.6 0.00 17-May-16 4326.64
18-May-16 528.5 0.00 18-May-16 4364.31
19-May-16 530.4 0.00 19-May-16 4392.88
22-May-16 530.3 0.00 22-May-16 4394.32
24-May-16 526.6 -0.01 24-May-16 4394.07
25-May-16 519.3 -0.01 25-May-16 4366.03
26-May-16 523.7 0.01 26-May-16 4388.01
29-May-16 533.2 0.02 29-May-16 4426.78
30-May-16 531.7 0.00 30-May-16 4423.00
31-May-16 537.3 0.01 31-May-16 4419.39
1-Jun-16 529.8 -0.01 1-Jun-16 4421.79
2-Jun-16 529.8 0.00 2-Jun-16 4446.09
5-Jun-16 529.7 0.00 5-Jun-16 4425.90
6-Jun-16 528.1 0.00 6-Jun-16 4410.93
7-Jun-16 524.9 -0.01 7-Jun-16 4412.51
8-Jun-16 525.5 0.00 8-Jun-16 4420.43
9-Jun-16 525 0.00 9-Jun-16 4418.99
12-Jun-16 525.4 0.00 12-Jun-16 4409.40
13-Jun-16 522.4 -0.01 13-Jun-16 4405.40
14-Jun-16 521.3 0.00 14-Jun-16 4409.09
15-Jun-16 521.1 0.00 15-Jun-16 4412.00
16-Jun-16 519.4 0.00 16-Jun-16 4395.28
19-Jun-16 518.6 0.00 19-Jun-16 4387.78
20-Jun-16 516.8 0.00 20-Jun-16 4369.01
21-Jun-16 517 0.00 21-Jun-16 4363.11
22-Jun-16 516.2 0.00 22-Jun-16 4366.25
23-Jun-16 517.9 0.00 23-Jun-16 4381.46
26-Jun-16 519.1 0.00 26-Jun-16 4380.22
27-Jun-16 516.4 -0.01 27-Jun-16 4412.83
28-Jun-16 516.7 0.00 28-Jun-16 4451.36
29-Jun-16 517.8 0.00 29-Jun-16 4470.26
30-Jun-16 522.1 0.01 30-Jun-16 4507.58
10-Jul-16 520.3 0.00 10-Jul-16 4495.19
11-Jul-16 520.4 0.00 11-Jul-16 4505.17
12-Jul-16 522.7 0.00 12-Jul-16 4544.71
13-Jul-16 519.6 -0.01 13-Jul-16 4538.08
14-Jul-16 519.5 0.00 14-Jul-16 4537.92
16-Jul-16 525.9 0.01 16-Jul-16 4554.74
17-Jul-16 534.2 0.02 17-Jul-16 4558.94
18-Jul-16 529.6 -0.01 18-Jul-16 4571.81
19-Jul-16 527 0.00 19-Jul-16 4556.93
20-Jul-16 533.5 0.01 20-Jul-16 4554.55
21-Jul-16 534.2 0.00 21-Jul-16 4553.78
24-Jul-16 534.6 0.00 24-Jul-16 4551.07
25-Jul-16 533 0.00 25-Jul-16 4549.18
26-Jul-16 531.8 0.00 26-Jul-16 4550.16
27-Jul-16 529.4 0.00 27-Jul-16 4538.21
28-Jul-16 537.4 0.02 28-Jul-16 4538.26
31-Jul-16 550.2 0.02 31-Jul-16 4525.35
1-Aug-16 558.3 0.01 1-Aug-16 4533.71
2-Aug-16 547.5 -0.02 2-Aug-16 4552.37
3-Aug-16 550.9 0.01 3-Aug-16 4575.97
4-Aug-16 552.2 0.00 4-Aug-16 4577.57
7-Aug-16 549.6 0.00 7-Aug-16 4568.43
8-Aug-16 548.3 0.00 8-Aug-16 4569.13
9-Aug-16 549.2 0.00 9-Aug-16 4567.69
10-Aug-16 552.8 0.01 10-Aug-16 4569.29
11-Aug-16 547 -0.01 11-Aug-16 4574.36
14-Aug-16 548.9 0.00 14-Aug-16 4577.08
16-Aug-16 544.4 -0.01 16-Aug-16 4586.25
17-Aug-16 543.9 0.00 17-Aug-16 4595.24
18-Aug-16 541.2 0.00 18-Aug-16 4585.08
21-Aug-16 539.5 0.00 21-Aug-16 4579.03
22-Aug-16 545 0.01 22-Aug-16 4577.85
23-Aug-16 542.1 -0.01 23-Aug-16 4563.68
24-Aug-16 539.5 0.00 24-Aug-16 4554.27
28-Aug-16 536 -0.01 28-Aug-16 4534.56
29-Aug-16 535 0.00 29-Aug-16 4534.04
30-Aug-16 534 0.00 30-Aug-16 4523.66
31-Aug-16 534.9 0.00 31-Aug-16 4526.58
1-Sep-16 538 0.01 1-Sep-16 4549.04
4-Sep-16 534.3 -0.01 4-Sep-16 4557.44
5-Sep-16 532.5 0.00 5-Sep-16 4563.69
6-Sep-16 532.7 0.00 6-Sep-16 4568.36
7-Sep-16 536.3 0.01 7-Sep-16 4594.68
8-Sep-16 536.1 0.00 8-Sep-16 4601.09
18-Sep-16 534.4 0.00 18-Sep-16 4623.98
19-Sep-16 541.4 0.01 19-Sep-16 4626.18
20-Sep-16 542.8 0.00 20-Sep-16 4639.13
21-Sep-16 548 0.01 21-Sep-16 4660.15
22-Sep-16 542.6 -0.01 22-Sep-16 4665.35
24-Sep-16 544.8 0.00 24-Sep-16 4680.31
25-Sep-16 541.9 -0.01 25-Sep-16 4673.44
26-Sep-16 542.7 0.00 26-Sep-16 4683.99
27-Sep-16 539.3 -0.01 27-Sep-16 4677.69
28-Sep-16 542.5 0.01 28-Sep-16 4690.63
29-Sep-16 542.3 0.00 29-Sep-16 4695.19
2-Oct-16 544.4 0.00 2-Oct-16 4690.93
3-Oct-16 543.7 0.00 3-Oct-16 4691.14
4-Oct-16 545.3 0.00 4-Oct-16 4708.79
5-Oct-16 546.9 0.00 5-Oct-16 4714.05
DSEX
Return
SUMMARY OUTPUT
-0.66%
0.13% Regression Statistics
0.03% Multiple R 0.276421
-0.35% R Square 0.076409
-0.04% Adjusted R Square 0.068162
-0.77% Standard Error 0.007537
0.04% Observations 114
-0.44%
-0.05% ANOVA
-0.38% df SS MS
-0.92% Regression 1 0.0005263115 0.000526
-1.00% Residual 112 0.006361789 5.68E-005
-1.02% Total 113 0.0068881005
-0.58%
2.42% CoefficientsStandard Error t Stat
-0.33% Intercept -5.7E-005 0.0007122747 -0.080015
1.14% -0.0066213359 0.474123 0.1557579643 3.043973
0.77%
-0.25%
0.02% 0.03
-0.27%
-0.46%
-0.54% 0.02
0.31%
0.89%
0.01
0.87% f(x) = 0.4459308901x + 4.03012550571974E-005
0.65% R = 0.0687355277
0.03% 0.00
-0.01% -1.50% -1.00% -0.50% 0.00% 0.50%
-0.64%
0.50% -0.01
0.88%
-0.09%
-0.08% -0.02
0.05%
0.55%
-0.03
-0.45%
-0.34% Column D Linear (Colum
0.04%
0.18%
-0.03%
-0.22%
-0.09%
0.08%
0.07%
-0.38%
-0.17%
-0.43%
-0.14%
0.07%
0.35%
-0.03%
0.74%
0.87%
0.42%
0.83%
-0.27%
0.22%
0.88%
-0.15%
0.00%
0.37%
0.09%
0.28%
-0.33%
-0.05%
-0.02%
-0.06%
-0.04%
0.02%
-0.26%
0.00%
-0.28%
0.18%
0.41%
0.52%
0.03%
-0.20%
0.02%
-0.03%
0.04%
0.11%
0.06%
0.20%
0.20%
-0.22%
-0.13%
-0.03%
-0.31%
-0.21%
-0.43%
-0.01%
-0.23%
0.06%
0.50%
0.18%
0.14%
0.10%
0.58%
0.14%
0.50%
0.05%
0.28%
0.45%
0.11%
0.32%
-0.15%
0.23%
-0.13%
0.28%
0.10%
-0.09%
0.00%
0.38%
0.11%
F Significance F
9.265772 0.0029100709
0571974E-005
DSEX
Daily Return 0.000549
Annualized Return 13.72%
Daily Standard deviation 0.004582
Annualized Standard deviation 7.24%
Current Market Price, So 544.00
Exercise Price, X 625.60
Risk Free Rate, rf 4.54%
Time to Maturity, T 2
Probability of going up 20%
Probability of going down 20%
u , (Up factor) 1.20
d , (down factor) 0.8
Risk Neutral Probability of going up, 61%
Risk Neutral Probability of going down, 1 39%
61%
61% 652.8
92.58
20% Up
544.00
54.33
20% Down
0
39% 435.2
39%
783.36
157.76
20% Up
20% Down
522.24
0
20% Up
20% Down
0
348.16
Current Market Price, So 544.00
Exercise Price, X 625.6
Risk Free Rate, rf 4.54%
Time to Maturity, T 2
Annualized Standard Deviation, 12%
Annualized Variance 1.5%
Continuous Risk Free Rate, rc 4.44%
1 -0.205
2 -0.380
N(d1) 0.419
N(d2) 0.352
Call Option Price, 25.79