KURU and MGT

glwking · 1 KURU and MGT Sat Mar 19, 2011 1:51 am

glwking

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Guys, what would be the future for KURU and MGT. Currently these counters are trading below NAV. Can these companies make profit in the future.

KURU --> NAV - 61.69 --> Market Price 28/-
MGT --> NAV - 42.42 --> Market Price 35/-

Last edited by glwking on Sat Mar 19, 2011 3:16 am; edited 1 time in total

Monster · 2 Re: KURU and MGT Sat Mar 19, 2011 2:29 am

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MGT went for a massive loss of Rs. 625 million in the 3Q. There was a audit inquiry for a fruad in the company. If I recall the reason for a audit inquiry, there was a discrepancy between inventory and the financial statement.

I don't know how they will perform in this quarter. Rolling Eyes

Slstock · 3 Re: KURU and MGT Sat Mar 19, 2011 3:14 am

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glwking wrote:Guy, what would be the future for KURU and MGT. Currently these counters are trading below NAV. Can these companies make profit in the future.

KURU --> NAV - 61.69 --> Market Price 28/-
MGT --> NAV - 42.42 --> Market Price 35/-

This sector is having losses due to GSP removal etc.. Also MGT has had "fraud" issues as monstor mentioned.

Yes they are going below NAV, but the issues is they are makign losses. I recall some talk about MADU should go up to Rs 70 as it NAV got revised. We need to be careful as I personally think along with NAV positive growth is important to make a buy decision.

investor0000 · 4 Re: KURU and MGT Sat Mar 19, 2011 1:19 pm

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can you please tell me how u arrived at KURU NAV. As per statements its 80.52

glwking · 5 Re: KURU and MGT Sat Mar 19, 2011 2:30 pm

glwking

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investor0000 wrote:can you please tell me how u arrived at KURU NAV. As per statements its 80.52

As of unaudited 31st December 2010 interim report NAV - 61.69
As of audited 31st March 2010 interim report NAV - 80.52

UKboy · 6 Re: KURU and MGT Sat Mar 19, 2011 7:34 pm

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http://forum.srilankaequity.com/t1197-kuru-results

Another sad ending story of a Sri lankan manufacturing sector plant. But I hope Brandix have the ability to change this daunting atmopsphire.

hotstock · 7 Re: KURU and MGT Sat Mar 19, 2011 10:54 pm

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UKboy wrote:http://forum.srilankaequity.com/t1197-kuru-results

Another sad ending story of a Sri lankan manufacturing sector plant. But I hope Brandix have the ability to change this daunting atmopsphire.

High rising prices of their raw materials (cotton) has increased their operational costs on top of GSP ..

It may take some time recover.. I feel this is not the right time to invest on these..

UKboy · 8 Re: KURU and MGT Mon Mar 21, 2011 4:28 am

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hotstock wrote:

UKboy wrote:http://forum.srilankaequity.com/t1197-kuru-results

Another sad ending story of a Sri lankan manufacturing sector plant. But I hope Brandix have the ability to change this daunting atmopsphire.

High rising prices of their raw materials (cotton) has increased their operational costs on top of GSP ..

It may take some time recover.. I feel this is not the right time to invest on these..

Yes agreed.