28-May-2013 Interim Financial Statements 31-03-2013 - Kelani Tyres

sriranga

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KELANI TYRES - Interim Financial Statements for the period ended 31-03-2013 have been uploaded on the CSE website.
http://www.cse.lk/cmt/upload_report_file/673_1369711600497.pdf

sriranga · 2 Sri Lanka Kelani Tyres, profits, sales down in March Tue May 28, 2013 1:41 pm

sriranga

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May 28, 2013 (LBO) - Profits at Sri Lanka's Kelani Tyres Plc, which has a joint venture with India's CEAT, fell 9 percent to 114 million rupees in the March 2013 quarter from a year earlier, with sales and production also falling.

The firm reported earnings of 1.43 rupees per share for the March 2013 quarter. In the year to March it reported earnings of 5.50 rupees on total profits of 442 million rupees, which were up 47 percent.

The stock was at 41.50 rupees in mid-day trading, Tuesday, unchanged.

Kelani Tyres said revenues fell 9 percent to 1,126 million rupees in the March 2013 quarter from a year earlier, costs fell at a faster 10 percent to 834 million rupees and gross profit fell at a slower 5 percent to 291 million rupees.

Sales volumes had fallen to 3,151 tonnes in the quarter from 3,941 a year earlier, with production falling to 3,287 from 4,002 metric tonnes.
http://www.lankabusinessonline.com/news/sri-lanka-kelani-tyres,-profits,-sales-down-in-march/1369430548

salt

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The firm reported earnings of 1.43 rupees per share for the March 2013 quarter. In the year to March it reported earnings of 5.50 rupees on total profits of 442 million rupees, which were up 47 percent.

Trading below 10X
good quality of earning
despite headwinds in vehicle market, this offers really nice value

salt · 4 Kelani Tyres PLC Tue May 28, 2013 5:21 pm

salt

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What you guys think of this share
It has good earning despite challenging market for vehcle
lower rubber price should help too
depreciation of the current is good for them in overall