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Sri Lanka Equity Forum » Stock Market Talk » Laxapana Batteries - A New Begining

Laxapana Batteries - A New Begining

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1Laxapana Batteries - A New Begining Empty Laxapana Batteries - A New Begining on Thu Feb 11, 2016 8:24 pm

EquityChamp

EquityChamp
Moderator
Background
The company was a dedicated torch and transistor battery manufacturing company in the past. However the company diversified into a new product range considering the market dynamics and doing so now marketing LAXAPANA brand zinc chloride & alkaline type AA and AAA batteries, CFL bulbs and safety wax matches and sanitary napkins under LILY brand name and also introduced a LAXPANA brand re-chargeable torch to the market.

Company Performance
Since the new product launch the company has achieved a remarkable revenue growth recording a significant revenue growth of 81% in FY14/15 with a PAT growth of 46% in the same year, however the company experienced a decline in profit margins due to new product development costs. With the realization of incremental revenues the margins are likely to improve over the next couple of years. Company NAV as at 30th Sep 2015 was Rs4.32. The ROE has improved to 8.7% in FY14/15 and remarkably improved to 20% during the first half of FY15/16.

The company is a relatively geared company where 45% of total assets were financed through borrowings. However the accumulation of positive operating cashflows will help the company to reduce the debt component gradually over the years to come.

According to the 1H results, the company is likely to achieve a revenue of Rs380mn for FY 15/16 and Rs540mn for FY16/17.Assuming a constant profit margin the estimated bottom line would be Rs33mn for FY15/16 and Rs47mn for FY16/17.

Opportunities and Challenges
The company's new product range is very much suited for modern day retail energy demand hence an investor can expect over 25% annual growth rate for the next few years. Probably the company will enter into the production of rechargeable batteries which goes in tandem with alkaline batteries.

However the new product range is to face stiff competition from both local as well as imported brands. Especially the imported brands will pose a significant challenge given their lower prices. However by offering a quality and durable product at a reasonable price should be enough to meet this challenge which is the focus of the company at the moment.

Valuations
Given the forecasted earning the share is currently trading at a forward PE of 9.3x @ a market price of Rs7.90 based on FY15/16 earnings and at a forward PE of 6.6x based on FY16/17 earnings. If the stock to trade at a 50% discount to sector PE the stock could be valued over Rs11.50 (based on FY16/17 earnings). Furthermore it is the company's policy to declare more than 50% of the profits as dividend so investors can expect a DPS of 50 cents for FY15/16 and a DPS of 70 cents for FY16/17.

Recommendation
Considering the huge growth potential of the stock backed by a high DY and low liquidity of the stock (only 39mn shares in issue) I recommend this is a BUY stock. The current depressed market may provide investors the golden opportunity to grab even for a lower price than the current price.

Thanks

2Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 12, 2016 9:04 am

visvajith


Equity Analytic
Equity Analytic
GOOD POST  Smile

3Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 12, 2016 9:06 am

troy

troy
Moderator
Great work EC. Thanks a lot. These kind of analysis can teach new members (+ people like us) how to act productively and objectively in a public forum.

4Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 12, 2016 9:29 am

EquityChamp

EquityChamp
Moderator
Thank you Visvajith & Troy and to all other who has red my posts. I invite the others also to read on the other two posts also so far I have published on TYRE & PARQ. Many more to come.

My objective is to educate our members on the great opportunity ahead of us with a bonus provided by current market decline.

Cheers.

5Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Sun Feb 14, 2016 3:04 pm

bonbon

bonbon
Manager - Equity Analytics
Manager - Equity Analytics
I personally don't like the brokers who like LITE. So will not touch.

6Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Sun Feb 14, 2016 10:10 pm

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thank you Equitychamp.

7Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Mon Feb 15, 2016 5:09 am

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Dear Equitychamp,
You are doing a very valuable lesson to everyone in the forum.

You have a good heart that everyone should get the same. I highly appreciate your views and ideas to make everyone knowledgeable.

To be honest that I have no expertise knowledge or expert advice from my broker but learnt from my self reading and learning from experience at CSE making massive mistakes and losing money.
Now I am happy that I have considerable knowledge in very short time period but worked very very hard but it was too much for me anyway.

That is why I am telling you that you are teaching and giving ideas not only the people who are already trading also new comers and learners. To be honest if you are writing information for all the shares then we don't have to do the research or look at the financial reports.

Finally thank you for your kind information.

8Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Mon Feb 15, 2016 10:30 pm

EquityChamp

EquityChamp
Moderator
9months PAT clocking Rs23million with a 116% growth YoY. You can expect a DPS of 40 to 50 cents in this quarter. Basketball

9Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Mon Feb 15, 2016 11:46 pm

Pac-man

Pac-man
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
godak isthuti equity champ

oba hoda minihek

10Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Tue Feb 16, 2016 9:22 am

visvajith


Equity Analytic
Equity Analytic

11Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Tue Feb 16, 2016 10:43 am

Nuwan Prasad


Manager - Equity Analytics
Manager - Equity Analytics
Keep up the good work EC

12Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Tue Feb 16, 2016 3:16 pm

EquityChemp

EquityChemp
Senior Equity Analytic
Senior Equity Analytic
EquityChamp is a good investor so I baught little but i feel little bit sick because lite drop 0.8 today can you advise Mr eqity champ what me do now because l loose money from lite today 
Unfortunately I don't have enough money for buy again . Mr ec this share will be up or down what me do Mr eqity champ

13Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Tue Feb 16, 2016 3:54 pm

EquityChamp

EquityChamp
Moderator
@EquityChemp wrote:EquityChamp is a good investor so I baught little but i feel little bit sick because lite drop 0.8 today can you advise Mr eqity champ what me do now because l loose money from lite today 
Unfortunately I don't have enough money for buy again . Mr ec this share will be up or down what me do Mr eqity champ

Since you ask I will give you the advice. The current market is not a market to trade where you buy today and sell tomorrow. Instead it is a market condition where investors have the chance to select undervalued shares and collect litttle by little for the future. As per the valuations LITE is a very much undervalued share which has an intrinsic value in excess of Rs.11.50 but you should have the patiens to wait till it reaches its true value. You should invest in not only the stock but in the time as well.
Remember the famous quote of Warren Buffet " you should buy stocks today thinking the stock market is closed for five years from tomorrow". Happy investing for all the value investors.

14Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Tue Feb 16, 2016 6:19 pm

EquityChemp

EquityChemp
Senior Equity Analytic
Senior Equity Analytic
Thanks Mr.  EquityChamp .

15Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Feb 17, 2016 10:52 pm

EquityChemp

EquityChemp
Senior Equity Analytic
Senior Equity Analytic
@EquityChamp wrote:
@EquityChemp wrote:EquityChamp is a good investor so I baught little but i feel little bit sick because lite drop 0.8 today can you advise Mr eqity champ what me do now because l loose money from lite today 
Unfortunately I don't have enough money for buy again . Mr ec this share will be up or down what me do Mr eqity champ

Since you ask I will give you the advice. The current market is not a market to trade where you buy today and sell tomorrow. Instead it is a market condition where investors have the chance to select undervalued shares and collect litttle by little for the future. As per the valuations LITE is a very much undervalued share which has an intrinsic value in excess of Rs.11.50 but you should have the patiens to wait till it reaches its true value. You should invest in not only the stock but in the time as well.
Remember the famous quote of Warren Buffet " you should buy stocks today thinking the stock market is closed for five years from tomorrow". Happy investing for all the value investors.
Yes Mr.  EquityChamp u are right today market drop day but lite up lite best stock for long-term short term.  
U are intelligent Mr eqity champ

16Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 19, 2016 3:43 pm

EquityChemp

EquityChemp
Senior Equity Analytic
Senior Equity Analytic
@EquityChemp wrote:
@EquityChamp wrote:
@EquityChemp wrote:EquityChamp is a good investor so I baught little but i feel little bit sick because lite drop 0.8 today can you advise Mr eqity champ what me do now because l loose money from lite today 
Unfortunately I don't have enough money for buy again . Mr ec this share will be up or down what me do Mr eqity champ

Since you ask I will give you the advice. The current market is not a market to trade where you buy today and sell tomorrow. Instead it is a market condition where investors have the chance to select undervalued shares and collect litttle by little for the future. As per the valuations LITE is a very much undervalued share which has an intrinsic value in excess of Rs.11.50 but you should have the patiens to wait till it reaches its true value. You should invest in not only the stock but in the time as well.
Remember the famous quote of Warren Buffet " you should buy stocks today thinking the stock market is closed for five years from tomorrow". Happy investing for all the value investors.
Yes Mr.  EquityChamp u are right today market drop day but lite up lite best stock for long-term short term.  
U are intelligent Mr eqity champ
 today market too up lite  drop  what is your idea Mr . EquityChamp. My idea good for long term investment because some stocks heavy sport with market move . But I believe u i will hold minimum 4 month .

17Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 19, 2016 3:51 pm

EquityChamp

EquityChamp
Moderator
Up or down by 10 20 cents will not harm the stock's real value. Investments are investments not trading stocks. If you have any concern please visit the CSE and check announcements under LITE. You will see a series of purchases by directors and the recent was a purchase @ Rs8.50.

18Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 19, 2016 4:04 pm

EquityChemp

EquityChemp
Senior Equity Analytic
Senior Equity Analytic
@EquityChamp wrote:Up or down by 10 20 cents will not harm the stock's real value. Investments are investments not trading stocks. If you have any concern please visit the CSE and check announcements under LITE. You will see a series of purchases by directors and the recent was a purchase @ Rs8.50.
Thanks Mr. EquityChamp you and Mr maharaja sir have  more valuable ideas and valuable  advice .
Thanks a lot Mr . EquityChamp

19Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 19, 2016 4:07 pm

fireshelter

fireshelter
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Very Happy Very Happy

20Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 19, 2016 9:08 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@fireshelter wrote:Very Happy Very Happy
Very Happy Very Happy

21Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Feb 26, 2016 6:55 am

EquityChamp

EquityChamp
Moderator
@ the current price level of 7.20 the forward PE has dropped to 6x now which is a massive discount to the industry.

22Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Tue Apr 12, 2016 2:36 pm

EquityChamp

EquityChamp
Moderator
Keep in mind that LITE has closed the market by clearing all the quantities offered @ 8/-. So after the new year holidays this stock will be one of the favourits to move up. Sometimes 9/- possible within very short period.

23Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Thu Apr 14, 2016 10:56 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
EquityChamp,


You are correct.
Move up to Rs 10.00 within a sort time

24Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Fri Apr 15, 2016 6:52 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Smile Smile

25Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Apr 20, 2016 7:32 am

Ok One


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thanks EC GL I love you I love you I love you

26Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Apr 20, 2016 9:51 pm

hiransilva23


Vice President - Equity Analytics
Vice President - Equity Analytics
EC u hav any idea abt lite?itz nt moving I hope dt it definitely on today.

27Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jun 01, 2016 8:17 am

EquityChamp

EquityChamp
Moderator
Here you have another great result. LITE has achieved a FY revenue of Rs416 mn with PAT of Rs46 mn Vs my forecast of Rs380mn of revenue and Rs33mn of PAT. Their last quarter performances have delighted me. So my dividend expectation of 50cents is well intact and in fact I think they can give about 60cents this time.
PER @ CMP is just 6.8x which is very attractive. Also a dividend yield (expected) of above 7% is very much attractive. A real value investment.

28Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jun 01, 2016 4:06 pm

EquityChamp

EquityChamp
Moderator
So now they have declared 55 cents just after I have commented about the possibility to declare a higher dividend than my initial target. So who ever invest in this stock based my analysis should be happy by now. Very Happy

29Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jun 01, 2016 4:09 pm

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
thanks  EquityChamp

30Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jun 01, 2016 4:16 pm

hiransilva23


Vice President - Equity Analytics
Vice President - Equity Analytics
Im hapy.bt cost is 8.40.i had to avarage it

31Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Thu Jun 02, 2016 11:58 am

EquityChamp

EquityChamp
Moderator
Laxapana Batteries is a liquid stock in the market. There are enough quantities between 8/- to 9/-. This has been the reason of its stagnation arround 8/- for the last so many months. But now....................???? Question

32Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Thu Jun 02, 2016 2:26 pm

EquityChamp

EquityChamp
Moderator
Absorbing the market liquidity. Is this the beginning of a value run?

33Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Thu Jun 02, 2016 6:11 pm

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
@EquityChamp wrote:Absorbing the market liquidity. Is this the beginning of a value run?

LITE on the way to 10 Very Happy

34Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Thu Jun 02, 2016 7:42 pm

EquityChamp

EquityChamp
Moderator
The ground is well set for a grand final. This time I can see 11.50 after watching how the stock traded in recent past.
Laxapana Batteries - A New Begining Laxapa10

35Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Thu Jun 02, 2016 9:57 pm

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
EC what is ur expected Sales nd profit for dis qtr

36Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jul 27, 2016 10:47 am

EquityChamp

EquityChamp
Moderator
After dividend too the share is backing up to cum div price. This seems to me is a super growth stock available to buy below 10 rupees.

37Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jul 27, 2016 11:10 am

Shehan Dhanushka

Shehan Dhanushka
Equity Analytic
Equity Analytic
EquityChamp  What are u think about lcem???

38Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jul 27, 2016 11:13 am

kapifm

kapifm
Manager - Equity Analytics
Manager - Equity Analytics
Equity Champ.....why GSF Not Moving??

39Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jul 27, 2016 12:11 pm

EquityChamp

EquityChamp
Moderator
@ Shehan - LCEM can't be valued based on their financials hence can't express any opinion. But it is moving based on speculation. if the speculator is smart he will make profits at the expense of others.

@ kapifm - GSF has shown a good improvement in their financials. But the current run was based on speculative deal. The effectiveness of the speculation will earn a good profit and if not it can cause losses. Why it is stagnating now is probably the speculator has already moved out from the stock by now with profits.

40Laxapana Batteries - A New Begining Empty Re: Laxapana Batteries - A New Begining on Wed Jul 27, 2016 3:43 pm

kapifm

kapifm
Manager - Equity Analytics
Manager - Equity Analytics
Dear EC,
appreciated,
well explained

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