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  • SHARK
    started a topic TJL Community

    TJL Community

    Teejay Lanka PLC, formerly Textured Jersey Lanka PLC, is a knitted fabric manufacturer. The Company manufactures Single jersey, Ribs and Interlock product categories for intimate apparel, active and leisure wear in the form of Yarn Dyes, Solids, Prints and Marls. The Company operates through two segments: Textile manufacturing-Sri Lanka and India, and Fabric printing-Sri Lanka. The Textile manufacturing-Sri Lanka and India segment is engaged in the business of manufacturing and selling of weft knit fabrics to export and to indirect export. The Fabric printing-Sri Lanka segment is engaged in rotary screen printing of knitted and woven fabrics to export and to indirect export. Its subsidiaries include Quenby Lanka Prints (Private) Limited, which offers rotary screen printing of knitted and woven fabrics; Ocean Mauritius Limited, which is engaged in investment holding, and Ocean India Private Limited, which manufactures knitted fabrics.

  • SHARK
    replied
    i dont see immediate turnaround. selling still intact technically.

    Leave a comment:


  • LukeDeSilva
    replied
    Will it hit 28 again.

    What will we see then ?

    Will it spin earth out of orbit ?

    Leave a comment:


  • sashimaal
    replied
    Maybe forced selling

    Leave a comment:


  • LukeDeSilva
    replied
    25 OMG.

    Any hooo. It seems that there is selling at CMP.

    Leave a comment:


  • SHARK
    replied
    not sure what was the cause, a sudden slap on the face... i started to see birds and stars. 25 should be perfect to complete.unless a quick turnaround.
    Click image for larger version

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    Leave a comment:


  • LukeDeSilva
    replied
    Originally posted by LukeDeSilva View Post
    Just thinking whether one could book in profits and get back lower before the next phase.
    Fortunately it was not only a thought.

    Now the question is why is this coming down, is it due to some earnings headwinds or general sentiment ?

    or

    anticipated large selling / crossing ?

    Yes yes.... we want a safe entry point / price. 28 /30 is a no brainer.

    Leave a comment:


  • Sj
    replied
    US economy and stock market is growing steadily for the last 8-9 years and some analyst expect a slow down or recession in 2019 -2020. Along with Brexit, how can such events effect TJL?

    Leave a comment:


  • trend
    replied
    Buying stocks at depressed prices when trend is weak and earnings are weak not a bad idea. Stocks markets have waves and strong trends. Rising rupee may reduce earnings but earnings can be expected from export market.
    Last edited by trend; 02-10-2019, 11:01 AM.

    Leave a comment:


  • LukeDeSilva
    replied
    Just thinking whether one could book in profits and get back lower before the next phase.

    Leave a comment:


  • PAT
    replied
    Teejay posts Rs. 1.26 b PAT for nine months

    Teejay Lanka PLC has achieved its fifth consecutive quarter of top and bottom line growth in the third quarter of 2018-19, demonstrating its resilience during a period of higher raw material and utility costs.

    Reporting revenue of Rs 23.0 billion for the nine months ending 31st December 2018, a growth of 26 per cent; and net profit of Rs 1.26 billion, an improvement of 16 per cent; Sri Lanka’s only multinational textile manufacturer said this had been achieved by operating at optimal capacity.

    Group gross profit for the nine months was up 18 per cent to Rs 2.6 billion, operating profit improved by 19 per cent to Rs 1.6 billion and profit before tax at Rs 1.48 billion reflected growth of 11 per cent, the Company said in a filing with the Colombo Stock Exchange (CSE).

    Revenue in the third quarter of 2018-19 alone increased by 28 per cent to Rs 8.48 billion, profit before tax grew by 7 per cent to Rs 628.8 million and net profit improved by 12 per cent to Rs 550.9 million over the third quarter of the preceding year, the Company said.

    Elaborating on these results, Teejay Lanka Chairman Mr Bill Lam said the margin for the 3rd quarter had improved to 12.3 per cent as against 11.2 per cent on a quarter-on-quarter basis as a result of better loading and an improved mix via the Group’s US and EU business units.

    Improved capacity utilisation across the Group, mainly with Teejay India’s expanded capacity exceeding expectations with optimum production and capacity utilisation, had contributed to the performance, he said. The depreciating Rupee and cost reduction initiatives also helped to keep overhead cost increases below revenue growth, Mr Lam explained.

    He said that the Teejay Group had a carried forward net cash balance of Rs 4.6 billion at the end of the quarter reviewed and a strong order book for the final quarter of 2018-19, projecting strong numbers for the Group.

    Lam announced an interim dividend of 85 cents, a 20 per cent increase above the previous year, primarily on the Group’s strong balance sheet and in line with its dividend policy, keeping both local and international investors in mind.

    Looking ahead, he added, “While we continue to see growth opportunities for Teejay Group, we also see challenges, foremost among them sale mix and raw material price volatility and increases in utility costs. Despite the challenging market conditions, the Group is optimistic that with a strong order book, capacity optimisation and the depreciation of the Rupee it will end the financial year on a strong footing.”

    A Weft knit fabric specialist with manufacturing operations in Sri Lanka and India, Teejay is one of the region’s largest textile manufacturers, and supplies fabric to some of the best international brands across the world.

    Teejay Lanka PLC is a public quoted company with 39 per cent public ownership.

    The company is backed by Sri Lanka’s largest apparel exporter, Brandix Lanka which has a 33 per cent stake and Pacific Textiles of Hong Kong which owns 28 per cent of the company. An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay has been listed on the Colombo Stock Exchange (CSE) since 2011 and was included in the S&P Top 20 Index in Sri Lanka.

    The Company has also been named among the Forbes ‘200 Best under a Billion in Asia’ and been recognised as the ‘International Textile Firm of the Year’ and the ‘International Dyer and Finisher’ by World Textile Institute, London.

    Leave a comment:

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