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Sri Lanka Equity Forum » Stock Market Talk » Singer Finance worth to look at

Singer Finance worth to look at

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1 Singer Finance worth to look at on Mon Apr 04, 2016 11:29 am

EquityChamp

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Moderator
Don't ignore this share. NAV as at 31st December is Rs15 and 9 months PAT was Rs315mn with a YOY growth of 13%. A good dividend is expected towards the end of Q2. The share was trading for 18.80 in the begining of March and still the same price.

2 Re: Singer Finance worth to look at on Tue Apr 05, 2016 2:19 pm

EquityChamp

avatar
Moderator
Very Happy Very Happy Slowly up turn.

3 Re: Singer Finance worth to look at on Tue Apr 05, 2016 4:53 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Few months ago SFIN had gone to the level of RS.27.90. With the entrance of retail investors it seems it may cover up past deficiencies.

4 Re: Singer Finance worth to look at on Fri May 13, 2016 1:36 pm

EquityChamp

avatar
Moderator
How do you feel now. Going to catch up its previous high.

5 Re: Singer Finance worth to look at on Fri May 13, 2016 3:39 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Dividend to be paid will push the prices up but not as previous years. Last year Dividend was Rs.1.25 paid around 19th June 2015. Strong market drive without contraction in next couple of weeks could push SFIN closer or higher to 52 week high of Rs.27.90.

6 Re: Singer Finance worth to look at on Tue Aug 02, 2016 9:41 am

EquityChamp

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Moderator
Singer Finance will be on the spotlight. Strong results backed by support from the parent is expected shortly. Current price is 20.80.

Thanks

7 Re: Singer Finance worth to look at on Wed Aug 03, 2016 10:11 am

EquityChamp

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Moderator
Looking at the 4th quarter of 2015/16 I see 2016/17 will going to be a tough year for SFIN. They need to look at ways to record at least 15% growth in total revenue while controlling costs in order to register a growth in earnings.

I have done a forecast at the current rate and looks they will be just short of earnings in this year YoY. The below is the summary for your reading.
 2013/142014/152015/162016/17
Total operating income1135131714341577
Impairment2141642950
Net operating income921115314051527
Operating profit before VAT402605716       701
PBT374566646       631
PAT268389440       430
EPS      1.62      2.36      2.67      2.60

8 Re: Singer Finance worth to look at on Wed Aug 03, 2016 11:12 am

sanjulanka


Manager - Equity Analytics
Manager - Equity Analytics
Thanks EC Very Happy Very Happy Very Happy Basketball Basketball Basketball

9 Re: Singer Finance worth to look at on Wed Aug 03, 2016 12:34 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Impairment forecast comparing to 2015/16 may be lower as all enterprises target to decrease impairment element.

10 Re: Singer Finance worth to look at on Wed Aug 03, 2016 12:45 pm

vic19

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@worthiness wrote:Impairment forecast comparing to 2015/16 may be lower as all enterprises target to decrease impairment element.

Impairment - What is impairment?
Definition: A reduction in the recoverable amount of a fixed asset or goodwill below its carrying amount.
Most accounts recognize and document the values of all assets: fixed assets, current assets, etc. These values are set by the current market.

However the value of most assets changes over time. In accounting, impairment is the diminishing in quality, strength, amount, or value of an asset. An increase in the value of an asset is called appreciation.

A decrease in value

The value of fixed assets such as buildings, land, machinery, and equipment can be susceptible to impairment. The decline in their value could be due to any number of factors, such as wear and tear, poor management, new competition, technological innovations, etc.

An asset can become less valuable because of use, as is often the case with assets like machinery for instance, or an asset simply depreciates in value over time. This depreciation is commonly distributed over the asset's entire lifetime.

Note:The definition of impairment is often subjective. Determining the fair value of an asset can be problematic, and different experts can arrive at different conclusions.

Profit and loss

Impairment losses are accounted for in the profit-and-loss account.

To measure the impairment value of an asset, you must compare the value of the asset with its recoverable amount (the highest value that can be obtained from selling the fixed asset or income-generating unit).

   

11 Re: Singer Finance worth to look at on Wed Aug 03, 2016 12:56 pm

vic19

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
What is an impairment?
The term impairment is usually associated with a long-lived asset that has a market which has decreased significantly. For example, a meat packing plant may have recently spent large amounts for capital expenditures and then experienced a dramatic drop in the plant's value due to business and community conditions.

If the undiscounted future cash flows from the asset (including the sale amount) are less than the asset's carrying amount, an impairment loss must be reported.

If the impairment loss must be reported, the amount of the impairment loss is measured by subtracting the asset's fair value from its carrying value.

12 Re: Singer Finance worth to look at on Wed Aug 03, 2016 1:05 pm

prasa2004


Manager - Equity Analytics
Manager - Equity Analytics
SFIN seems not done good as per Review in SINS

''At Singer Finance (Lanka) PLC, revenue increased by 14%, but net profit decreased marginally by 2% in the first six months. ''

13 Re: Singer Finance worth to look at on Wed Aug 03, 2016 1:08 pm

vic19

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@worthiness wrote:Impairment forecast comparing to 2015/16 may be lower as all enterprises target to decrease impairment element.

@ worthiness

I refer to your above comment and wish to ask you the following to get a better understanding;

in these type of business like singer pls, abans,......, due to technological advancement in the product they sell

for eg lets take television set.,
now Digital, HD,3D curved higher mega pixel.............eco......... many old version TV are getting out of date due to this the company has to sell them at a lesser value or at a discount to clear them since many people prefer the latest version.

so these type of companies will have greater Impairment cost due to the product they sell ?  I am right ?

then what is the difference between depreciation and impairment ?

is impairment is used only on the companies fixed assets and not on the product they sell ?

could you please enlighten me and this forum for their knowledge ? thanks

14 Re: Singer Finance worth to look at on Wed Aug 03, 2016 1:42 pm

EquityChamp

avatar
Moderator
@vic19 wrote:
@worthiness wrote:Impairment forecast comparing to 2015/16 may be lower as all enterprises target to decrease impairment element.

@ worthiness

I refer to your above comment and wish to ask you the following to get a better understanding;

in these type of business like singer pls, abans,......, due to technological advancement in the product they sell

for eg lets take television set.,
now Digital, HD,3D curved higher mega pixel.............eco......... many old version TV are getting out of date due to this the company has to sell them at a lesser value or at a discount to clear them since many people prefer the latest version.

so these type of companies will have greater Impairment cost due to the product they sell ?  I am right ?

then what is the difference between depreciation and impairment ?

is impairment is used only on the companies fixed assets and not on the product they sell ?

could you please enlighten me and this forum for their knowledge ? thanks

Here impairment refers to the decrease in recoverable amounts from customer outstandings. Its like provisioning for bad debts.

15 Re: Singer Finance worth to look at on Wed Aug 03, 2016 7:21 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@vic19
EC has explain it in a simple manner. Thx.

16 Re: Singer Finance worth to look at on Thu Apr 12, 2018 6:57 am

EquityChamp

avatar
Moderator
So think it's the time to look at the numbers again post rights issue. After dividend trading below 16.

17 Re: Singer Finance worth to look at on Thu Apr 12, 2018 6:37 pm

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
good share ! 2 years from now would be worth around 40 levels !

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