CENTRAL INDUSTRIES PLC (CIND.N0000)

LHW wrote:The move comes after water pipes and fittings were listed under the import controls gazetted last month, tanking the NWSDB’s plans to recommence *issuing new connections following funding by the Asian Development Bank (ADB) and assistance from the Central Bank of Sri Lanka (CBSL) to source dollars needed to import water meters for new customers.

https://www.themorning.lk/economic-crisis-new-water-connections-blocked-by-import-bans/

LHW wrote:The move comes after water pipes and fittings were listed under the import controls gazetted last month, tanking the NWSDB’s plans to recommence *issuing new connections following funding by the Asian Development Bank (ADB) and assistance from the Central Bank of Sri Lanka (CBSL) to source dollars needed to import water meters for new customers.

https://www.themorning.lk/economic-crisis-new-water-connections-blocked-by-import-bans/

ErangaDS wrote:CIND has just reported the best earnings in the history of the company
upside can be expected

K.R wrote:How attractive is Central Industries $CIND at current MM?

$CIND is currently trading at 2.77 per (41% undervalued compared to the industry per)

Based on pbv, ev/ebitda , adjusted per (ttm) & navps,

Fair Value ~ 222
Upside ~ 271%

Here’s the valuation breakup as of 3Q22,

1. PBV

Median pbv of SPCSECGP (capital goods) is 1.9% (as of 31/12/2022)

$CIND is comparatively illiquid hence after a -10% illiquidity discount, implied multiple = 1.68X

This gives an FV of LKR 222 based on the implied pbv

2. EV/EBITDA

Capital goods industry peers trade at a median of 8x ev/ebitda as of 31/12/2022

Pat/ebitda historical average is 54%; this translates $CIND eps ttm ~22 to 40.3 ebitda / share

After -10% illiquidy premium fv based on ev/ebitda = LKR 288

3. NAV &PER

$CIND bvps is 132.4 & eps ttm is 22 (as of 31/12/22)

Further, historical finance cost/revenue is ~1%, however due to heavy fx losses ttm finance cost has inflated to 820M (13% of revenue)

3. Cont.

After adjusting 13% finance cost to historical average (1%) new eps ttm is approx. 63

Based on the adjusted eps ttm $CIND currently trading at 0.95X per

$CIND fv at SPCSECGP per (3.90x) = 246

https://twitter.com/WidulDeelaka/status/1620871199520849922

Central Industries

CIND.N0000

Share Price 7 Day   1 Year   85.50 27.2%   -50.6%     Investor sentiment improves as stock rises 27% After last week's 27% share price gain to LK₨85.50, the stock trades at a trailing P/E ratio of 4.2x.  Average trailing P/E is 13x in the Building industry in Asia.  Total returns to shareholders of 127% over the past three years.

Ekanayake90 wrote:What is the best construction related company at CSE?
Compare all the others(Cement , Cable , Tile , Aluminum)with CIND , than you will have an answer.
PER @3 doesn’t reflects the true value of this magnificent company
CIND deserves at least 8+ PER in the short run  

LHW wrote:60% given pipe-borne water - Ministry
Sixty percent of the country’s population has been provided with pipe-borne water supply by the end of October 2022, the Water Supply Ministry said.
It is expected to provide the other 40 per cent with pipe-borne water by 2025 under the ‘Water for All’ initiative, the Ministry said.
https://www.dailynews.lk/2022/11/25/local/291898/60-given-pipe-borne-water-ministry


Bid Notice Published on Daily News on 10th May  2023
https://drive.google.com/file/d/1z1lymEyKCDBU4jtwCAn7Jev08IgwN-v6/view?usp=drivesdk

LHW wrote:

LHW wrote:60% given pipe-borne water - Ministry
Sixty percent of the country’s population has been provided with pipe-borne water supply by the end of October 2022, the Water Supply Ministry said.
It is expected to provide the other 40 per cent with pipe-borne water by 2025 under the ‘Water for All’ initiative, the Ministry said.
https://www.dailynews.lk/2022/11/25/local/291898/60-given-pipe-borne-water-ministry


Bid Notice Published on Daily News on 10th May  2023
https://drive.google.com/file/d/1z1lymEyKCDBU4jtwCAn7Jev08IgwN-v6/view?usp=drivesdk

[size=35]ADB to assist Sri Lanka water supply projects[/size]

ECONOMYNEXT – Representatives from the Asian Development Bank met government officials at the Presidential Secretariat, to discuss the upcoming water supply sector reform program in Sri Lanka.
The discussion focused on the policy planning and monitoring framework integral to the proposed reform program, which is set to be implemented through financial assistance from the ADB. 
The reforms revolve around enhancing the management of climate-resilient, safe and environmentally sustainable water supply systems, a statement by the president’s media division said. 
The execution of this initiative would be undertaken collaboratively by the prime minister’s office, the ministry of water supply and the National Water Supply and Drainage Board. (Colombo/Nov20/2023)

K.R wrote:CIND.N0000 | Central Industries

Feb 08
Third quarter 2024 earnings released: EPS: LK₨9.32 (vs LK₨8.53 in 3Q 2023)

Third quarter 2024 results:
EPS: LK₨9.32 (up from LK₨8.53 in 3Q 2023).
Revenue: LK₨1.04b (down 12% from 3Q 2023).
Net income: LK₨225.5m (up 9.3% from 3Q 2023).
Profit margin: 22% (up from 18% in 3Q 2023). The increase in margin was driven by lower expenses.
Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.