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Sunday, June 13, 2010

KLCI Stock - PADINI / 7052 - 2010 Quarter 3

Market Cap : 131581900*3.67 = 482,905,573 (Small)
NTA per share : 242136/131582 = 1.84
P/BV : 3.67/1.84 = 1.9946
Forecast P/E now : (3.67-0.15)/0.4074 = 8.64 (Moderate)
ROE : 22.97% (High)
DY : 0.15/3.67*100 = 4.09% (Moderate)
Fixed Asset Turnover(3 year) : (1.4789+1.5779+1.5016)/3 = 1.5195 (High)
Liquidity Ratio : 262047/90235 = 2.9041 (Moderate)
Receivables Collection Period : (34846+32137)/2/(507478/365) = 24 days (Good)
My Target Price : 4.07+0.075 = 4.15 (PE 10, EPS 0.4074, DPS 0.15)
My Decision : BUY
My Comment : Revenue and profit increased, good cash flow, debt decreased, navps increasing
Technical Support Price : 3.45, 3
Risk Rating : MODERATE
OSK Target Price : 4.65 (31 May 10)

My notes based on 2010 quarter 3 report (number in '000):
- Revenues for the quarter under review up 16.5% from the amounts achieved in the previous year’s corresponding quarter. Gross margins earned during the quarter were also marginally higher at 48.4%, and coupled with the increased revenues, caused gross profits for the quarter reviewed to rise by nearly RM11 million year-on-year. Profit before taxation also rose in tandem of 54.1%. The greatly improved performance was attributed mainly to the extended Chinese New Year shopping season available in 2010. With the Chinese New Year Day falling on the 14th of February in 2010 as opposed to 26th January in 2009, the additional 3 weeks of festive shopping contributed significantly to higher revenues
- Estimate next 4Q eps after 2010 Q3 result announced = 0.4074, estimate PE on current price 3.67 = 8.64(DPS 0.15)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.4074 (around 10% grow from 0.3765, expect next quarter strong due to chinese new year), estimate PE on current price 3.88 = 9.34(DPS 0.075)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.4074, estimate highest/lowest PE = 10.22/7.08 (DPS 0.135)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.4074, estimate highest/lowest PE = 7.38/6.27 (DPS 0.135)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.389, estimate highest/lowest PE = 6.71/5.78 (DPS 0.14)

PADINI latest news from The Edge (English)

1 comment:

Polite Market said...

Hi, nice blog. I don't have much info on Padini, but i think Bonia is good.

At the moment my favorite is Freight. Bought Mamee and NTPM recently. I have put up few post on Mamee.

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