PCH report finally out

seek · 1 PCH, Where is the end Thu Aug 16, 2012 5:03 pm

seek

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Revenue is decreasing dramatically. Good luck for people who bought this at 30 and still holding.

http://cse.lk/cmt/upload_report_file/961_1345030849566.pdf

Slstock · 2 Re: PCH report finally out Thu Aug 16, 2012 5:10 pm

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This is one company I see more and more bad results comings and little growth prospects. Someime ago they got a decent director board but looks like nothing really is happening.

Last edited by slstock on Fri Aug 17, 2012 12:20 am; edited 3 times in total

Fresher · 3 Re: PCH report finally out Thu Aug 16, 2012 8:14 pm

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Something that I gathered is their working capital management.

Payable days = 12

Receivable days = 150

Inventory turnover days = 256

That's staggering. Further the inventory is building up, as well as receivables. High risk of stocks going obsolete and debtors defaulting.

anu · 4 Re: PCH report finally out Thu Aug 16, 2012 10:40 pm

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npp wrote:Something that I gathered is their working capital management.

Payable days = 12

Receivable days = 150

Inventory turnover days = 256

That's staggering. Further the inventory is building up, as well as receivables. High risk of stocks going obsolete and debtors defaulting.

Good job. This is the most undesirable position for an IT equipment seller. Hope Rishan is more concerned about juggling with shares than the core business.

A clear case of over-promising and under-performing.. Crying or Very sad

Slstock · 5 PCH report finally out Fri Sep 14, 2012 5:22 pm

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http://www.cse.lk/cmt/upload_report_file/961_1345030849566.pdf

EPs 0.01
Rev Down also.

ddindika · 6 Re: PCH report finally out Fri Sep 14, 2012 5:32 pm

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As expected

Fresher · 7 Re: PCH report finally out Fri Sep 14, 2012 10:55 pm

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Can't find the working capital analysis I did regarding PCH.

Look at the numbers.
Inventories and receivables compared with payables.

borrowings going up. it's more than the value of inventories and in this trade, it can soon become obsolete.

property plant and equipment is not even half of that value.

will they be able to get more debt? if they do, finance cost will shoot up.

next quarter is a definite loss.

Come on... surely on the verge of bankruptcy

anu · 8 Re: PCH report finally out Fri Sep 14, 2012 11:02 pm

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Some well known names from different fields serving in the Board was definitely a big plus.

I hope with the adventures of Rishan, they all got pissed off and ran away from the scene.

Now it's journey to "Galle" (South..!)

Slstock · 9 Re: PCH report finally out Sat Sep 15, 2012 3:00 am

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If they do not come up with a plan very soon to improve profits and revenue , this is heading south alright at this rate.

anu wrote:Some well known names from different fields serving in the Board was definitely a big plus.

I hope with the adventures of Rishan, they all got pissed off and ran away from the scene.

Now it's journey to "Galle" (South..!)

Fresher · 10 Re: PCH report finally out Sat Sep 15, 2012 8:35 am

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btw slstock, his wasn't released yday was it? I remember we had a small discussion on this quite recently.

Malika1990 · 11 Re: PCH report finally out Sat Sep 15, 2012 8:43 am

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Above link relate to their Interim Financial Statements as at 30-06-2012
Interim Financial Statements as at 30-06-2012 was uploaded in August
I think this is the correct link
http://www.cse.lk/cmt/upload_report_file/961_1347615890.pdf
Annual Report 2011/2012 has been uploaded on the CSE website. The above Company has been transferred from the Default Board with effect from 17-09-2012.
slstock am I correct

Last edited by Malika1990 on Sat Sep 15, 2012 8:52 am; edited 1 time in total

Slstock · 12 Re: PCH report finally out Sat Sep 15, 2012 8:50 am

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From Sept 7th PCH was in the default board right for non submission of report.

ps :Okay just checked, it was for annual report. My mistake. Sorry.
Quarterly submitted before.

Last edited by slstock on Sat Sep 15, 2012 9:15 am; edited 1 time in total

Fresher · 13 Re: PCH report finally out Sat Sep 15, 2012 8:54 am

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i can't seem to find that thread. better to merge it Smile

Slstock · 14 Re: PCH report finally out Sat Sep 15, 2012 9:02 am

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Thread Merged. I had even commented on the old Seek post pale

.

Sorry Seek, though your post show 1st with Title name , with author name it does not. My appology. YOu should get credit for posting it first.

gamaya · 15 Re: PCH report finally out Sat Sep 15, 2012 12:26 pm

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Already Rishan has made a fat profit by all the crap he sent down the throats of retailers. And that Nissam Singa Laxana and the guy called Sumithre did their fair part.

Fresher · 16 Re: PCH report finally out Sat Sep 15, 2012 1:16 pm

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gamaya wrote:Already Rishan has made a fat profit by all the crap he sent down the throats of retailers. And that Nissam Singa Laxana and the guy called Sumithre did their fair part.

I think these things are irrelevant now. Not that I support who ever did the promotion at any place.

Remember when that saga took place? That's a very long time. Looking at historical figures, upto Dec 2011, PCH had decent steady revenue, gross profits, operating profits, net profits and EPS. Of course it did not deserve the price which it peaked at, but it had a steady business at that time.

Last couple of quarters, something went wrong. That something could have been obvious. I'm talking about the business here, and not the stock. I always look at the company and not only where the stock is trading.

Cashflow statement analysis is very important. If you have noticed the inventory and receivables build up you could have noticed. There is no point pointing fingers. That too was long ago. We can't hold the same reason for the next ten years. Forget that and analyze each quarter report.

But surely, if this continues... if those inventory are going to be written down, if those debtors are going to default, there is no where PCH can go.

I first visited the 9to9 showroom only after the IPO to get a first hand view of something that they are doing. I saw attitude, bad attitude from the sales guy as well as the cashier. That was my last visit.
There are numerous complaints and issues regarding the company. In my view, there is nothing that can save this unless something dramatic happens.