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Sri Lanka Equity Forum » Stock Market Talk » Diversified Holdings Sector

Diversified Holdings Sector

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1Diversified Holdings Sector Empty Diversified Holdings Sector on Mon Feb 07, 2011 8:55 pm

SmartMoney

SmartMoney
Equity Analytic
Equity Analytic
I observed that out of 7 companies in the diversified sector, prices of CARS,CTHR,CFLB & HAYL have been significantly appreciated recently.
Other 3 companies are JKH,HHL & SPEN. We all know that all these are fundamentally very strong companies. I feel these 3 have been silent and stagnating for too long now. Current prices looks to be very attractive to be collected .
When do you all think that these will start moving & what are your barriers for these ??
Please share your thoughts, thanks in advance .....

2Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Mon Feb 07, 2011 9:21 pm

ashlee


Manager - Equity Analytics
Manager - Equity Analytics
Well I was a big fan of CARS and made a lot of profit out of it.. However what I have noticed in CARS is, just after a split there is big tendency of being stagnated at a certain price level(Right now itz 540-570)...

I personally do not think CARS will go up soon.. This is based on previous observation and not based on any financial analysis.. There is always a possibility of going against all odds.

3Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Mon Feb 07, 2011 9:46 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
CARS was a marvelous share if u know its history.. how many sub divisions it has come across and how many times it has gone up.. I think ppl who have been keeping this in their portfolios are rather millionours now.. We can never predict how and when this would start moving.. All the CARSONS group companies have this priviledge.. I think even CINV is now at a discount..

4Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Mon Feb 07, 2011 10:17 pm

SmartMoney

SmartMoney
Equity Analytic
Equity Analytic
What do you think about HHL,JKH & SPEN ? Don't you all think that it's the right time for these big guns to start shooting ??

5Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Mon Feb 07, 2011 10:38 pm

hotstock


Manager - Equity Analytics
Manager - Equity Analytics
i was a fan of HHL but it was stagnating for a looooong period...so i had to sell around two months back to cover up the opportunity costs...

i may re-enter..but why this is stagnating ...

6Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Mon Feb 07, 2011 11:22 pm

ashlee


Manager - Equity Analytics
Manager - Equity Analytics
@smallville wrote:CARS was a marvelous share if u know its history.. how many sub divisions it has come across and how many times it has gone up.. I think ppl who have been keeping this in their portfolios are rather millionours now.. We can never predict how and when this would start moving.. All the CARSONS group companies have this priviledge.. I think even CINV is now at a discount..

It really is.. I made huge gains out of it..But my adviser and some of the learned members of this forum told me through a post I have posted that it would not move sooner since the big buyers have not yet entered the market..My PERSONAL view is that there is a huge opportunity cost so better sell of, gain some money and reinvest in CARS..

7Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Tue Feb 08, 2011 12:17 am

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@smallville wrote:CARS was a marvelous share if u know its history.. how many sub divisions it has come across and how many times it has gone up.. I think ppl who have been keeping this in their portfolios are rather millionours now.. We can never predict how and when this would start moving.. All the CARSONS group companies have this priviledge.. I think even CINV is now at a discount..

BUKI and JKH as well. CARS and CINV are two of the best quality shares. You know how to spot some of the best value shares. They are not very popular and attractive and the movements are slow, these shares move slowly based on corporate earnings and future growth potential. You know how to recognized best shares we have a great respect and confidence on your analysis. Thanks for disclosure of your shares without having any reservation.

8Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Tue Feb 08, 2011 12:24 am

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Why no RHL in the sector Sad . Until today it has not appreciated almost at all for its performance.

dmjesua


Senior Equity Analytic
Senior Equity Analytic
Price EPS P/E
FORT LAND 410 20.6 19.90
RICHARD PIERIS 14 0.7 20.00
SUNSHINE HOLDING 45 2 22.50
HEMAS HOLDINGS 46.1 1.8 25.61
JKH 275 9.1 30.22
FINLAYS COLOMBO (+) 325.1 10.4 31.26
AITKEN SPENCE 168 4 42.00
CARSONS 669.9 14.6 45.88
HAYLEYS 385 7.7 50.00
C T HOLDINGS 211 3.7 57.03

Sector PE = 24.9

CFLB, RICH are trading at discounted price. We will wait see...

10Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Fri Mar 11, 2011 9:41 pm

million


Senior Equity Analytic
Senior Equity Analytic
I was surprised to see CFLB not moving even after they announced a SPLIT.

11Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Fri Mar 11, 2011 11:08 pm

SilverHawk


Equity Analytic
Equity Analytic
CSEC also belongs to above category.

CSEC 13.40
EPS Latest Cum : 8.1
PE : 1.6 (lowest among the sector)
PBV: 1.3 (Highest in the sector)

Sector summery: (From LSL report)
Diversified Holdings
Conglomerates posted an earnings growth of 30.8%YoY (Sep quarter: 186.8%YoY) and ‐10.4%QoQ (mainly due to the nonrecurring items recorded in counters such as JKH in Sep quarter). Excluding the non‐recurring items in Dunamis Capital, Sun Shine Holdings, the quarter profit growth is 22.1%YoY. Apart from Carsons, Hayleys and Sunshine Holdings other companies recorded notable growth in profits during the period. Premier blue‐chip John Keells Holdings, Carsons Cumberbatch and Richard Pieirs were the top earners in the sector.

12Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Fri Mar 11, 2011 11:16 pm

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@dmjesua wrote:Price EPS P/E
FORT LAND 410 20.6 19.90
RICHARD PIERIS 14 0.7 20.00
SUNSHINE HOLDING 45 2 22.50
HEMAS HOLDINGS 46.1 1.8 25.61
JKH 275 9.1 30.22
FINLAYS COLOMBO (+) 325.1 10.4 31.26
AITKEN SPENCE 168 4 42.00
CARSONS 669.9 14.6 45.88
HAYLEYS 385 7.7 50.00
C T HOLDINGS 211 3.7 57.03

Sector PE = 24.9

CFLB, RICH are trading at discounted price. We will wait see...


Yes, Diversified sector and a diversified portfolio seem to be the best choice at this stage, market would recover on those lines next week onwards. BRWN, DIST as well.

13Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Fri Mar 11, 2011 11:18 pm

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
amjad wrote:I was surprised to see CFLB not moving even after they announced a SPLIT.

same here. i cant understand... cyclops

14Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Fri Mar 11, 2011 11:22 pm

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@chamith wrote:
amjad wrote:I was surprised to see CFLB not moving even after they announced a SPLIT.

same here. i cant understand... cyclops

IPO refunds next week would improve the situation.

15Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Fri Mar 11, 2011 11:55 pm

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Where is RHL ? A major group at that!

16Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Sat Mar 12, 2011 12:10 am

dmjesua


Senior Equity Analytic
Senior Equity Analytic
@Rajitha wrote:Where is RHL ? A major group at that!

According to www.CSE.lk (Listed companies by sector) RHL belongs to Investment Trusts.

17Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Sat Mar 12, 2011 3:09 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@dmjesua wrote:Price EPS P/E
FORT LAND 410 20.6 19.90
RICHARD PIERIS 14 0.7 20.00
SUNSHINE HOLDING 45 2 22.50
HEMAS HOLDINGS 46.1 1.8 25.61
JKH 275 9.1 30.22
FINLAYS COLOMBO (+) 325.1 10.4 31.26
AITKEN SPENCE 168 4 42.00
CARSONS 669.9 14.6 45.88
HAYLEYS 385 7.7 50.00
C T HOLDINGS 211 3.7 57.03

Sector PE = 24.9

CFLB, RICH are trading at discounted price. We will wait see...

Hi dmjesua
Where did you get this details. Because according my calculation I get different PE ratio for each companies.

Guys, correct me if I am wrong Smile

Period --> Profit --> EPS
HHL
03/2010 --> 385.66 Mn --> EPS 0.66 (3.31 - Before split)
06/2010 --> 318.58 Mn --> EPS 0.57 (2.86 - Before split)
09/2010 --> 314.37 Mn --> EPS 0.58
12/2010 --> 341.45 Mn --> EPS 0.61

Total profit --> 1,360.06 Mn
Annual EPS = 2.42
Current Price = 46/-
Annual PE ratio (46/2.42) = 19

NAV = 16.58

No of shares Issued - 512,040,620
Public Holdings - 28.05%

JKH
03/2010 --> 3,012.11 Mn --> EPS 4.59
06/2010 --> 1,076.87 Mn --> EPS 1.63
09/2010 --> 3,038.32 Mn --> EPS 4.70
12/2010 --> 2,027.07 Mn --> EPS 2.82

Total profit --> 9,154.36 Mn
Annual EPS = 13.74
Current Price = 275/-
Annual PE ratio (275/13.74) = 20.1

NAV = 87.64

No of shares Issued - 623,684,247
Public Holdings - 73.10%

SPEN
03/2010 --> 1,092.56 Mn --> EPS 1.90 (28.51 - Before split)
06/2010 --> 601.18 Mn --> EPS 1.08 (16.24 - Before split)
09/2010 --> 816.64 Mn --> EPS 1.49 (22.41 - Before split)
12/2010 --> 775.32 Mn --> EPS 1.43

Total profit --> 3285.70 Mn
Annual EPS = 5.9
Current Price = 168/-
Annual PE ratio (168/5.9) = 28.47

NAV = 50.90

No of shares Issued - 405,996,045
Public Holdings - 53.91%

RICH
03/2010 --> 443.59 Mn --> EPS 0.17 (2.58 - Before split)
06/2010 --> 343.38 Mn --> EPS 0.21
09/2010 --> 534.81 Mn --> EPS 0.22
12/2010 --> 791.59 Mn --> EPS 0.32

Total profit --> 2113.37 Mn
Annual EPS = 0.92
Current Price = 14/-
Annual PE ratio (14/0.92) = 15.21

NAV = 2.41

No of shares Issued - 1,936,841,535
Public Holdings - 44.81%

SUN
03/2010 --> 238.57 Mn --> EPS 0.63
06/2010 --> 225.90 Mn --> EPS 0.87
09/2010 --> 79.34 Mn --> EPS 0.42
12/2010 --> 294.05 Mn --> EPS 0.70

Total profit --> 837.85 Mn
Annual EPS = 2.62
Current Price = 45/-
Annual PE ratio (45/2.62) = 17.17

NAV = 15.47

No of shares Issued - 405,996,045
Public Holdings - 8.46%

HAYL
03/2010 --> 1,337.16 Mn --> EPS 12.58
06/2010 --> 340.37 Mn --> EPS 2.01
09/2010 --> 489.61 Mn --> EPS 4.53
12/2010 --> 13.79 Mn --> EPS 1.20

Total profit --> 2180.92 Mn
Annual EPS = 20.32
Current Price = 385/-
Annual PE ratio (385/20.32) = 18.94

NAV = 210.17

No of shares Issued - 75,000,000
Public Holdings - 49.30%

CTHR
03/2010 --> 435.84 Mn --> EPS 0.32
06/2010 --> 200.39 Mn --> EPS 0.54
09/2010 --> 413.96 Mn --> EPS 1.16
12/2010 --> 746.46 Mn --> EPS 1.97

Total profit --> 1796.65 Mn
Annual EPS = 3.99
Current Price = 211/-
Annual PE ratio (211/3.99) = 52.88

NAV = 51.38

No of shares Issued - 170,348,920
Public Holdings - 34.73%

CFLB
03/2010 --> 456.27 Mn --> EPS 7.82
06/2010 --> 314.95 Mn --> EPS 5.12
09/2010 --> 252.24 Mn --> EPS 3.70
12/2010 --> 834.16 Mn --> EPS 11.83

Total profit --> 1857.62 Mn
Annual EPS = 28.47
Current Price = 410/-
Annual PE ratio (410/28.47) = 14.40

NAV = 89.56

No of shares Issued - 36,000,000
Public Holdings - 37.22%

JFIN
03/2010 --> 139.21 Mn --> EPS 3.98
06/2010 --> 50.45 Mn --> EPS 1.44
09/2010 --> 90.45 Mn --> EPS 2.58
12/2010 --> 84.51 Mn --> EPS 2.41

Total profit --> 364.62 Mn
Annual EPS = 10.41
Current Price = 325/-
Annual PE ratio (325/10.41) = 31.21

NAV = 147.04

No of shares Issued - 35,000,000
Public Holdings - 3.45%

18Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Sat Mar 12, 2011 3:54 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@Monster wrote:
@dmjesua wrote:Price EPS P/E
FORT LAND 410 20.6 19.90
RICHARD PIERIS 14 0.7 20.00
SUNSHINE HOLDING 45 2 22.50
HEMAS HOLDINGS 46.1 1.8 25.61
JKH 275 9.1 30.22
FINLAYS COLOMBO (+) 325.1 10.4 31.26
AITKEN SPENCE 168 4 42.00
CARSONS 669.9 14.6 45.88
HAYLEYS 385 7.7 50.00
C T HOLDINGS 211 3.7 57.03

Sector PE = 24.9

CFLB, RICH are trading at discounted price. We will wait see...

Hi dmjesua
Where did you get this details. Because according my calculation I get different PE ratio for each companies.

Guys, correct me if I am wrong Smile

Period --> Profit --> EPS
HHL
03/2010 --> 385.66 Mn --> EPS 0.66 (3.31 - Before split)
06/2010 --> 318.58 Mn --> EPS 0.57 (2.86 - Before split)
09/2010 --> 314.37 Mn --> EPS 0.58
12/2010 --> 341.45 Mn --> EPS 0.61

Total profit --> 1,360.06 Mn
Annual EPS = 2.42
Current Price = 46/-
Annual PE ratio (46/2.42) = 19

NAV = 16.58

No of shares Issued - 512,040,620
Public Holdings - 28.05%

JKH
03/2010 --> 3,012.11 Mn --> EPS 4.59
06/2010 --> 1,076.87 Mn --> EPS 1.63
09/2010 --> 3,038.32 Mn --> EPS 4.70
12/2010 --> 2,027.07 Mn --> EPS 2.82

Total profit --> 9,154.36 Mn
Annual EPS = 13.74
Current Price = 275/-
Annual PE ratio (275/13.74) = 20.1

NAV = 87.64

No of shares Issued - 623,684,247
Public Holdings - 73.10%

SPEN
03/2010 --> 1,092.56 Mn --> EPS 1.90 (28.51 - Before split)
06/2010 --> 601.18 Mn --> EPS 1.08 (16.24 - Before split)
09/2010 --> 816.64 Mn --> EPS 1.49 (22.41 - Before split)
12/2010 --> 775.32 Mn --> EPS 1.43

Total profit --> 3285.70 Mn
Annual EPS = 5.9
Current Price = 168/-
Annual PE ratio (168/5.9) = 28.47

NAV = 50.90

No of shares Issued - 405,996,045
Public Holdings - 53.91%

RICH
03/2010 --> 443.59 Mn --> EPS 0.17 (2.58 - Before split)
06/2010 --> 343.38 Mn --> EPS 0.21
09/2010 --> 534.81 Mn --> EPS 0.22
12/2010 --> 791.59 Mn --> EPS 0.32

Total profit --> 2113.37 Mn
Annual EPS = 0.92
Current Price = 14/-
Annual PE ratio (14/0.92) = 15.21

NAV = 2.41

No of shares Issued - 1,936,841,535
Public Holdings - 44.81%

SUN
03/2010 --> 238.57 Mn --> EPS 0.63
06/2010 --> 225.90 Mn --> EPS 0.87
09/2010 --> 79.34 Mn --> EPS 0.42
12/2010 --> 294.05 Mn --> EPS 0.70

Total profit --> 837.85 Mn
Annual EPS = 2.62
Current Price = 45/-
Annual PE ratio (45/2.62) = 17.17

NAV = 15.47

No of shares Issued - 405,996,045
Public Holdings - 8.46%

HAYL
03/2010 --> 1,337.16 Mn --> EPS 12.58
06/2010 --> 340.37 Mn --> EPS 2.01
09/2010 --> 489.61 Mn --> EPS 4.53
12/2010 --> 13.79 Mn --> EPS 1.20

Total profit --> 2180.92 Mn
Annual EPS = 20.32
Current Price = 385/-
Annual PE ratio (385/20.32) = 18.94

NAV = 210.17

No of shares Issued - 75,000,000
Public Holdings - 49.30%

CTHR
03/2010 --> 435.84 Mn --> EPS 0.32
06/2010 --> 200.39 Mn --> EPS 0.54
09/2010 --> 413.96 Mn --> EPS 1.16
12/2010 --> 746.46 Mn --> EPS 1.97

Total profit --> 1796.65 Mn
Annual EPS = 3.99
Current Price = 211/-
Annual PE ratio (211/3.99) = 52.88

NAV = 51.38

No of shares Issued - 170,348,920
Public Holdings - 34.73%

CFLB
03/2010 --> 456.27 Mn --> EPS 7.82
06/2010 --> 314.95 Mn --> EPS 5.12
09/2010 --> 252.24 Mn --> EPS 3.70
12/2010 --> 834.16 Mn --> EPS 11.83

Total profit --> 1857.62 Mn
Annual EPS = 28.47
Current Price = 410/-
Annual PE ratio (410/28.47) = 14.40

NAV = 89.56

No of shares Issued - 36,000,000
Public Holdings - 37.22%

JFIN
03/2010 --> 139.21 Mn --> EPS 3.98
06/2010 --> 50.45 Mn --> EPS 1.44
09/2010 --> 90.45 Mn --> EPS 2.58
12/2010 --> 84.51 Mn --> EPS 2.41

Total profit --> 364.62 Mn
Annual EPS = 10.41
Current Price = 325/-
Annual PE ratio (325/10.41) = 31.21

NAV = 147.04

No of shares Issued - 35,000,000
Public Holdings - 3.45%


Monster:

I have not checked each details but your calculation looks accurate.

DMJESUA

I think you areonly taking 9 month EPS to caclculate PE. You should take 12 months EPS either forward or trailing.

19Diversified Holdings Sector Empty Re: Diversified Holdings Sector on Sun Mar 13, 2011 8:03 am

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
Thanks, all those shares in the Diversified sector look like having good prospects. What about the banking sector shares, they also registered good profits. Fundamentally speaking Diversified and banking sector is ideal. Plantations, ports and construction also good at current bargain prices I suppose. These shares can give a better return than IPO etc. interest rates are also low.

factFINDER

factFINDER
Manager - Equity Analytics
Manager - Equity Analytics
STOCKS Classified under Diversified Holding Sector
JKH, HAYL, SPAN, HHL, CARS, CTHR, RICH
SUN, CFLB, CSEC, JFIN, FLCH

OTHER Stocks - Classified under sectors other than Diversified Holdings
ERI (GREG)
CIC Holdings (CIC)
LOLC Holdings (LOLC)
Renuka Holdings (RHL)
Lankem Ceylon (LCEY)
DIST
BRWN

Sector Classification is important as we usually compare SECTOR PER to decide Undervalue or Overvalue statues of a particuler stock, as those are more representative than MARKET PER.
What my observation was some stocks classified under DIVERSIFIED HOLDING SECTOR has not been much diversified, which is sometimes misleading.
The classic example is FLCH (Free Lanka Capital Holdings) .... 97% Revenue & over 90% profits from PLANTATION business. Then, is it Diversified Holding Company or Plantation Holding Company (like MPRH)??
If Sector PER
Diversified = 24.5
Plantation = 9.8
and FLCH = 10.9 -- Is is undervalued?

I have not analysed all other Diversified Stocks, but noticed that some other stocks classified under diffrent sectors having relatively more diversifications. i.e. DIST, LOLC, CIC, GREG, .... etc.

Experts ..... Should there be any criteria to classify stocks??



Decleration : This is not a negative comments on FLCH. I have FLCH in my portfolio and still worth to me at current level of 5/- (as it is the IPO price)

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