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Laxapana Batteries - A New Begining

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Laxapana Batteries - A New Begining

Post by EquityChamp on Thu Feb 11, 2016 8:24 pm

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
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Re: Laxapana Batteries - A New Begining

Post by visvajith on Fri Feb 12, 2016 9:04 am

GOOD POST  Smile

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Re: Laxapana Batteries - A New Begining

Post by troy on Fri Feb 12, 2016 9:06 am

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.
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Re: Laxapana Batteries - A New Begining

Post by EquityChamp on Fri Feb 12, 2016 9:29 am

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.
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Re: Laxapana Batteries - A New Begining

Post by bonbon on Sun Feb 14, 2016 3:04 pm

I personally don't like the brokers who like LITE. So will not touch.
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Re: Laxapana Batteries - A New Begining

Post by Joe007 on Sun Feb 14, 2016 10:10 pm

Thank you Equitychamp.

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Re: Laxapana Batteries - A New Begining

Post by Joe007 on Mon Feb 15, 2016 5:09 am

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.


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Re: Laxapana Batteries - A New Begining

Post by EquityChamp on Mon Feb 15, 2016 10:30 pm

9months PAT clocking Rs23million with a 116% growth YoY. You can expect a DPS of 40 to 50 cents in this quarter. Basketball
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Re: Laxapana Batteries - A New Begining

Post by Pac-man on Mon Feb 15, 2016 11:46 pm

godak isthuti equity champ

oba hoda minihek
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Re: Laxapana Batteries - A New Begining

Post by visvajith on Tue Feb 16, 2016 9:22 am

LITE good results.

https://www.cse.lk/cmt/upload_report_file/498_1455528207379.pdf

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Re: Laxapana Batteries - A New Begining

Post by Nuwan Prasad on Tue Feb 16, 2016 10:43 am

Keep up the good work EC

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Re: Laxapana Batteries - A New Begining

Post by EquityChemp on Tue Feb 16, 2016 3:16 pm

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
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Re: Laxapana Batteries - A New Begining

Post by EquityChamp on Tue Feb 16, 2016 3:54 pm

@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.
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Re: Laxapana Batteries - A New Begining

Post by EquityChemp on Tue Feb 16, 2016 6:19 pm

Thanks Mr.  EquityChamp .
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Re: Laxapana Batteries - A New Begining

Post by EquityChemp on Wed Feb 17, 2016 10:52 pm

@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
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Re: Laxapana Batteries - A New Begining

Post by EquityChemp on Fri Feb 19, 2016 3:43 pm

@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 .
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Re: Laxapana Batteries - A New Begining

Post by EquityChamp on Fri Feb 19, 2016 3:51 pm

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.
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Re: Laxapana Batteries - A New Begining

Post by EquityChemp on Fri Feb 19, 2016 4:04 pm

@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
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Re: Laxapana Batteries - A New Begining

Post by fireshelter on Fri Feb 19, 2016 4:07 pm

Very Happy Very Happy
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Re: Laxapana Batteries - A New Begining

Post by Yahapalanaya on Fri Feb 19, 2016 9:08 pm

@fireshelter wrote:Very Happy Very Happy
Very Happy Very Happy
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Re: Laxapana Batteries - A New Begining

Post by EquityChamp on Fri Feb 26, 2016 6:55 am

@ the current price level of 7.20 the forward PE has dropped to 6x now which is a massive discount to the industry.
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Re: Laxapana Batteries - A New Begining

Post by EquityChamp on Tue Apr 12, 2016 2:36 pm

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.
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Re: Laxapana Batteries - A New Begining

Post by Harry82 on Thu Apr 14, 2016 10:56 pm

EquityChamp,


You are correct.
Move up to Rs 10.00 within a sort time
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Re: Laxapana Batteries - A New Begining

Post by Harry82 on Fri Apr 15, 2016 6:52 am

Smile Smile
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Re: Laxapana Batteries - A New Begining

Post by Ok One on Wed Apr 20, 2016 7:32 am

Thanks EC GL I love you I love you I love you

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