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  • RCL Community

    Latest results not encouraging. EPS from 1.50 to 1Rs
    "The best values today are often found in the stocks that were once hot and have since gone cold"

  • #2
    Financial Performance ended 30 June 2018

    Click image for larger version  Name:	RCL-q2.png Views:	1 Size:	117.4 KB ID:	778
    Last edited by ruwan326; 08-14-2018, 09:39 PM.

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    • #3
      COGS, OverHeads Higher than Sales Increase and top of that Net FC is also High
      "The best values today are often found in the stocks that were once hot and have since gone cold"

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      • #4
        Financial Performance -Period ended 30 September 2018



        Click image for larger version

Name:	RCL-q3.png
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ID:	6200

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        • #5
          Extract from ASIA

          RCL recorded net profits of LKR 442mn in 2Q FY19, down 35.2% YoY. While all segments saw their profits slip, the Tile segment (~70.0% of revenue) which fell 57.8% YoY to LKR 266mn was the key contributor to the decline. The Tile segment posted a decent revenue growth of 12.5%. Following on from the last quarter, we believe the growth was entirely volume driven as RCL changed its mix to cater to the low-end market. This however, came at the cost of margins which saw gross margins fall 9.0pp YoY to 39.2% for the segment as high LPG costs also impacted margins. We revise our estimates for RCL with the estimate revisions done for its subsidiary companies. We value the share at a TP of LKR 75.00/ share. HOLD.

          >Shift in focus to low-end markets amidst economic & construction slowdown
          >Subsidiary company performances weigh on group performance
          >Input costs to remain a concern for RCL’s margins

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          • #6
            With HOPL performing decently RCL should get re-rated to 80s as current values not warranted in my view. Besides their exports may have given good Forex for last Qtr. With Port City developments taking off and fuel being low last qtr i think there should be some turnaround for Tile Cos.

            Discl. Hold

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            • #7
              Critical ceramics, tiles and glass industry calls for proper support

              http://www.ft.lk/front-page/Critical...port/44-673081

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              • #8
                RCL and LWL had been on sort of free fall even though their net assets are a few times higher.
                RCL seems to be having quite a lot of selling ; LWL may too, but not that clear
                A point to ponder is reduction in para tariffs related to these companies from the coming budget as they are heavily protected at the moment

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                • #9
                  Voting share (N):

                  Dividend per share (Rs.):
                  Voting :2.50
                  Financial year:
                  2018/2019
                  Shareholder approval:
                  Not required
                  XD date:
                  24 Apr 2019
                  Payment date:
                  06 May 2019
                  Share transfer book:
                  Open

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