Raigam Wayamba Saltetns RWSL.N0000-(CSE/Colombo Stock Exchange)
Fundamentals
* Expected 12M EPS - LKR 1.20
* PE - 5.91 (@ LTP LKR 7.10)
* NAV - LKR 8.36
* Expecting NAV YE March 2024 - LKR 8.76
* PBV - 0.81
* Free Cash/Share (Including Fixed Deposits) - > LKR 3.00
Fundamental Investment Thesis Summary
* Sri Lanka had extremely high interest rates above 25% during 2022 & 2023
* Now fixed income rates had dropped below 10% and expecting fall below and remain lower
* No incentive for the company to continue with high free cash buffers
* Company is currently debt free. As borrowing rates are low, company can execute expansions on borrowings.
* Expecting distribution of free cash as enhanced dividends
Fundamental business outlook
* 2024 is expected to be a dry year (El Nino effects) for Sri Lanka. Dry conditions are very much conducive for salt production.
* Sri Lanka is coming out of an economic crisis. Consumption levels are expected to grow rapidly in 2024 (Growth of tourism/increased consumption from native population
Technical Analysis (Chart Patterns)
* With the breaking of LKR 7, RWSL is with a confirmed C&H Break Out. Target LKR 8.30, 18% upside.
* 52 W High LKR 9.30
* Expected 12M EPS - LKR 1.20
* PE - 5.91 (@ LTP LKR 7.10)
* NAV - LKR 8.36
* Expecting NAV YE March 2024 - LKR 8.76
* PBV - 0.81
* Free Cash/Share (Including Fixed Deposits) - > LKR 3.00
Fundamental Investment Thesis Summary
* Sri Lanka had extremely high interest rates above 25% during 2022 & 2023
* Now fixed income rates had dropped below 10% and expecting fall below and remain lower
* No incentive for the company to continue with high free cash buffers
* Company is currently debt free. As borrowing rates are low, company can execute expansions on borrowings.
* Expecting distribution of free cash as enhanced dividends
Fundamental business outlook
* 2024 is expected to be a dry year (El Nino effects) for Sri Lanka. Dry conditions are very much conducive for salt production.
* Sri Lanka is coming out of an economic crisis. Consumption levels are expected to grow rapidly in 2024 (Growth of tourism/increased consumption from native population
Technical Analysis (Chart Patterns)
* With the breaking of LKR 7, RWSL is with a confirmed C&H Break Out. Target LKR 8.30, 18% upside.
* 52 W High LKR 9.30
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T1 Reached