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PABC has reported a staggering growth in NPAT for 1st 9months of FY 2015 recording a growth of 171% YoY. Their growth has come partly from increase in revenue but largely fro decrease in cost of funds. Point of concern is the high growth in impairment an indication of weakening the quality of the asset base. Nevertheless they are strongly on track to record a profit in excess of LKR1bn for the year which will be their first of that kind of achievement in the history.
So I think they are well on track to report an annual EPS in excess of Rs3.5 and @ the current price of 28.3 it is trading at a foreword PE of 8x which is at a discount of 33% to the industry. Based on the valuations I can't underestimate the chances for this share to move to Rs35 level so it carries a good appreciation potential. GL.
So I think they are well on track to report an annual EPS in excess of Rs3.5 and @ the current price of 28.3 it is trading at a foreword PE of 8x which is at a discount of 33% to the industry. Based on the valuations I can't underestimate the chances for this share to move to Rs35 level so it carries a good appreciation potential. GL.
