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Sri Lanka Equity Forum » Stock Market Talk » SOFTLOGIC FINANCE PLC (CRL) - Research Report - Strong BUY

SOFTLOGIC FINANCE PLC (CRL) - Research Report - Strong BUY

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Trader1


Senior Equity Analytic
Senior Equity Analytic
Softlogic Finance (CRL) as one of the fast growing finance companies in Sri
Lanka is expected to achieve a 101% earnings growth amidst changing focus
on credit disbursement portfolio to high yielding segments, lowering
impairment stemming from leases and higher purchases and increasing
presence of branch network. We expect CRL to achieve an EPS of LKR 9.0 in
FY16E leading to a PER of 4.4x and PBV of 1.0x compared to sector average of
11.2x and 1.6x respectively. FC Research expects a total return of c.58% by
FY16E, based on a target price of LKR 65.0 (+54%) and a dividend yield of 3.6%.

Changing clientele may generate 32% growth in NII in FY16E: CRL has been
changing its product mix and focus from leases and hire purchases to Micro
finance in order to capture high yielding niche market segments by developing
innovative products. Hence, we expect net interest income to grow by 32% to
LKR 2bn in FY16E attributing to high yielding loans and advances growth of 25%
to LKR 11.5bn in FY16E. Further, we maintain our conservative forecast for
leases and hire purchases growth at 17% to LKR 8bn.

Efficient cost management and lowering impairment may drive +101% profit
growth in FY16E:
We expect CRL’s to lower impairment compared to FY15 due
declined exposure in leases and hire purchase portfolio. Further, strategic
branch expansion and cost management measures are expected to improve
CRL’s cost-to-core-income ratio to 63% in FY16E from 67% in FY15E.

CRL may provide a total 1-year return of 58%: CRL at LKR 40.0, trades on a FY16E
PER of 4.4x and PBV of 1.0x. The counter may also provide a DPS of LKR 1.5 for
FY15E and LKR 3.1 for FY16E, which may translate into a dividend yield of 3.8%
and 7.6% respectively. On justified book value CRL is valued at LKR 58.0 while on
8.0x FY16E average PER the company is valued at LKR 72.0. On average we
provide a target price of LKR 65.0 for CRL for a 1-Year period providing a total
return of 58% - BUY.

Please find the attached Report
Attachments
CRL.pdf
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Harry82

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
then

VFIN's target price is over Rs 100.00

NZ BOY

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Moderator
@Harry82 wrote:then

VFIN's target price is over Rs 100.00

yep

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
hmmmmmmmmm LFIN?????????????

Harry82

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
LFIN
FY16E, based on a target price of LKR 225.00

RCL
FY16E, based on a target price of LKR 185.0

Invest_Wisely


Manager - Equity Analytics
Manager - Equity Analytics
@ Trader1

I would like to thank you for taking the time to upload the research report unfortunately not many people do this so a big thank you from me.

It appears that First Capital stockbrokers produce good research reports, I will be definitely opening an account with them....

Thank you one again

Trader1


Senior Equity Analytic
Senior Equity Analytic
@ Invest_Wisely
Welcome.

Yesterday CRL.N0000  Net Foreign Purchases 75,000

Source : ASSETLINE RESEARCH Daily Report.
Attachments
Snapshot 23-04-2015.pdf
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cse_investor1


Equity Analytic
Equity Analytic
Thank you very useful information....

Harry82

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
SDB target price Rs 135.00

Thushara Ayya

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Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
My target is 46/= 47/= today

Invest_Wisely


Manager - Equity Analytics
Manager - Equity Analytics
http://www.sundayobserver.lk/2015/04/26/fin32.asp

Softlogic Finance opens two branches

Softlogic Finance PLC opened two full-fledged branches in Senkadagala, Kandy and Pamankada, Colombo 6 recently.

The opening of the two branches at strategic and convenient locations expands Softlogic Finance's network across the country to 31 locations - 19 branches and 12 stand alone gold loan centres.

Both branches will offer the full range of services provided by Softlogic Finance including leasing and hire purchase, fixed deposits and savings, personal loans, business loans, gold loans and working capital loans.

The Senkadagala branch, which strengthens the company's presence to two branches in Kandy and four in the Central Province, was opened at Katugasthota Road, Kandy. The Pamankada branch, the company's fifth in the Western Province, was opened at W. A. De Silva Mawatha, Colombo 6.

The branches will be open for business during week days from 8.30 a.m. to 5.00 p.m.

"These recent branch openings underscore Softlogic Finance's aggressive expansion strategy and the company's commitment to develop an islandwide footprint, in line with its vision of becoming the preferred non-banking financial institution in Sri Lanka," Deputy Chairman, Softlogic Finance, Harris Premaratne said.

"Along with expanding the 'hard infrastructure' relating to branches, the company will continue to focus on further enhancing our offering to clients through excellent customer care and implementation of best IT practices, among other measures," he said.

The company's flagship 'Clean Zone' community initiative, which hopes to improve the cleanliness of a 500-metre roadside extent on both sides of its branches and inculcate the habit of segregating recyclable and non-recyclable refuse among the public, is due to be launched soon at the Senkadagala branch.

Softlogic Finance is a part of the Softlogic Group that has interests in Healthcare, Retail, Financial Services, ICT, Leisure, Automobiles and Restaurants. The company is a Registered Finance Company under Finance Business Act No 42 of 2011, and a Specialised Leasing Company, licensed by the Central Bank under the Finance Leasing Act No. 56 of 2000.

piras

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I bought today. Targeting 65

Gainer

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
AFSL highly recommended illiquid stock and target 50+
AFSL Few year ago went up 116.00

man123


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
CRL gone High now
Buy SFL.P
SFL.P good Investment , SFL.N reach 250/= soon then SFL.P 70/= again .
after Subdivision SFL.P 100/=

Invest_Wisely


Manager - Equity Analytics
Manager - Equity Analytics
SOFTLOGIC FINANCE - DIVIDEND ANNOUNCEMENT

SOFTLOGIC FINACE PLC
Company ID: - CRL
Date of Announcement: - 08.May.2015
Dividend per Share: - Rs. 1.50 per share / Interim Dividend
Financial Year: - 2014/2015
XD: - 19.May.2015
Payment: - 28.May.2015
Share Transfer Book Open

piras

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Good news. It will drive 60+

Sstar

avatar
Vice President - Equity Analytics
Vice President - Equity Analytics
Who owns Softlogic Finance? I woul like to buy that company for sure!

fireshelter

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
SCAP

Quibit

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@fireshelter wrote:SCAP
Who owns SCAP?

fireshelter

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
End of Day Ahsok patirage

VALUEPICK

avatar
Expert
Expert
Have a patient. In this bull market lot of stocks should go up in the coming months.

Quibit

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Quibit wrote:
@fireshelter wrote:SCAP
Who owns SCAP?
SCAP is owned by SHL

VALUEPICK

avatar
Expert
Expert
http://www.softlogic.lk/main-1-6.html

Financial Sector

Softlogic Capital PLC functions as the financial services’ sector holding company of the Softlogic Group. Softlogic Capital PLC was incorporated as Capital Reach Holdings Limited in April 2005 as an Investment Holding Company. Subsequently the company was acquired by Softlogic Holdings PLC in August 2010, and in keeping with its core function as a holding company, added Asian Alliance Insurance PLC in 2012 to its existing subsidiary network to form a fully fledged finance arm to increase the synergies of the Softlogic Group.
Softlogic Capital’s portfolio of financial services are offered through Softlogic Finance PLC, a Licensed Finance Company (LFC) under the purview of Central Bank of Sri Lanka; Asian Alliance Insurance PLC, a composite insurer licensed by the Insurance Board of Sri Lanka; and Softlogic Stock Brokers Pvt Ltd, a stock broking company licensed and actively trading on the Colombo Stock Exchange.
Softlogic Capital PLC is licensed by Securities & Exchange Commission of Sri Lanka as a Market Intermediary under the Investment Manager category. The core principle is one where fiduciary responsibility takes ascendance with public’s fund being invested is a conservative and rewarding manner involving disciplined and integrated risk management solutions led by professionals with unmatched expertise in the industry.

AKNASI

avatar
Stock Analytic
Stock Analytic
I think Softlogic Finance PLC will go up to 60+ Soon Soon Soon.....

podda2


Manager - Equity Analytics
Manager - Equity Analytics
37 sell karanwa kawuru hari..

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