Author Topic: KOHC -- Kohat Cement  (Read 130879 times)

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Offline Ali135

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Re: KOHC -- Kohat Cement
« Reply #39 on: April 16, 2012, 11:18:16 AM »
kohc eps 7.77 for 9months

but upper say lower lock lag gaya is news say KOHC ko...  :arrowhead:

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Re: KOHC -- Kohat Cement
« Reply #39 on: April 16, 2012, 11:18:16 AM »

Offline engrusama

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Re: KOHC -- Kohat Cement
« Reply #40 on: April 16, 2012, 11:55:20 AM »
brothers buy banti hay?

m not into this scrip really but lower lock daykh k moo main paani aagaya :s1:

Offline Poker Face

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Re: KOHC -- Kohat Cement
« Reply #41 on: April 16, 2012, 05:09:00 PM »
Q3 2012 Result

awesome result by KOHC
profit margins further improved from 29.89% to 32.2%

FY 2012 eps 11.2 intact

Potential target 50/- by annual result very much possible

Offline SBM

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Re: KOHC -- Kohat Cement
« Reply #42 on: April 16, 2012, 08:06:16 PM »
Q3 2012 Result

awesome result by KOHC
profit margins further improved from 29.89% to 32.2%

FY 2012 eps 11.2 intact

Potential target 50/- by annual result very much possible

poker bhai, any dividend expectations ?
I hate waking up.

Offline stock addicted

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Re: KOHC -- Kohat Cement
« Reply #43 on: April 17, 2012, 02:15:21 AM »
no dividend expectation in kohat as seen in the last five years kohat has never paid dividend
thats why target price should be around 45
stocks medium term mari, spl, efoods, isl

Offline Poker Face

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Re: KOHC -- Kohat Cement
« Reply #44 on: April 17, 2012, 07:51:18 AM »
Rs. 2 dividend expected

Offline stock addicted

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Re: KOHC -- Kohat Cement
« Reply #45 on: April 17, 2012, 10:04:40 AM »
poker bhai its a bet they will not pay dividend you must be new in the market just research the reports for the last 15 yrs u will see they never paid dividend
stocks medium term mari, spl, efoods, isl

Offline SBM

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Re: KOHC -- Kohat Cement
« Reply #46 on: April 17, 2012, 01:57:40 PM »
Rs. 2 dividend expected

poker bhai its a bet they will not pay dividend you must be new in the market just research the reports for the last 15 yrs u will see they never paid dividend

thanks ! There is always a first time :)
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Offline naveed

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Re: KOHC -- Kohat Cement
« Reply #47 on: April 17, 2012, 06:39:25 PM »
poker, is it really expected??

Offline naveed

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Re: KOHC -- Kohat Cement
« Reply #48 on: April 19, 2012, 06:55:17 PM »
yaar is ka kia ho ga.  Koi batao yaar for short term

Offline Farzooq

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Re: KOHC -- Kohat Cement
« Reply #49 on: September 03, 2012, 11:51:05 AM »
We are initiating our coverage on Kohat Cement Company Limited (KOHC) with
DCF based December 2012 target price of PKR 103.6/share, offering a striking
upside potential of 84.8% from closing price of PKR 56/share. The core of our
investment case for the scrip revolves around strong cement pricing, cooling off
coal prices and healthy demand outlook. In addition to these, KOHC has been
aggressively prepaying its long term loans, which is not only decreasing its fixed
cost but also creating room for healthy payouts for equity investors. The stock is
currently trading at FY13F PER of 2.9 offering a 42% discount to the AHL Cement
Universe Stocks PER of 5.1x.

It’s all about the cement price…
Strong pricing scenario in the domestic market has been the driving factor for the
cement industry. Despite hawkish stance of Competition Commission of Pakistan
and an oversupply of around 13mn tons, cement prices in the domestic market
jumped by 18% YoY in FY12 and remained resilient around PKR 440/bag since
April 2012. We believe that the pricing power of the industry to remain strong in
medium term and assume per bag Ex-Factory prices of PKR 375 and PKR 370 for
FY13 and FY14, respectively, compared to PKR 385/bag prices during 4QFY12.
This coupled with healthy volumetric growth is likely to improve revenues at 4 year
CAGR (FY11-15) of 17% to PKR 11.2bn.

… While healthy demand supports volumetric growth
KOHC has achieved a 26.5% YoY growth in domestic sales during FY12, a
massive outperformance compared to the industry, which grew by an 8.8% YoY.
Exports on other hand suffered a steep decline of 29.6% YoY to 273k tons;
reducing total growth to 12%, still better than the industry’s growth of 3.5%. The
company achieved a 4 years high capacity utilization of 59% in FY12, highest since
it started operations of its expansion project. We expect company’s volumes to
grow at 4 years CAGR of 4% to 1.9mn in FY16 from 1.7mn in FY12, with domestic
demand and exports improving at CAGR 4.5% and 1.5% respectively.

Aggressive prepayment to reduce finance cost
KOHC is amongst the few cement companies, which have paid attention to
aggressively deleveraging its balance sheet using the opportunity provided from
strong pricing scenario. Because of losses in FY10, the company had to reschedule
its long term debt whereby it increased its grace period and deferred its mark up
payments. However, strong pricing scenario created healthy cash flow generation
for the company, which pouncing on the opportunity, prepaid its long term liabilities
to the tune of PKR 1.1bn in FY12. This is likely to reduce Debt to Capital ratio to
55% in FY12 from 72% in FY11. Aggressive deleveraging is expected to reduce
finance cost by 49% YoY to PKR 301mn in FY13, with a per ton fixed cost
reduction of PKR 92.
Profitability to post a 148% CAGR in FY11-15
Amid strong cement pricing, healthy demand outlook and falling finance cost is
likely to yield a massive growth at 148% CAGR during FY11-15 to PKR 2.4bn
(EPS: PKR 18.76). During FY13 alone, we expect the company to achieve a 50%
earnings growth to PKR 18.84/share compared to PKR 12.52/share.

Strong cash generation likely to result payouts
The company is expected to generate strong Free Cash Flow to Equity of PKR
4/share and PKR 8/share in FY12 and FY13, respectively. This coupled with the
fact that the company does not have aggressive capital expenditure plans going
forward, we see a possibility of cash dividend of PKR 2.5/share and PKR 4/share in
FY12 and FY13, respectively.

FY11A FY12E FY13F
Total Equity (PKRbn) 2.1 3.4 5.3
Total Assets (PKRbn) 9.1 9.1 9.5
Net Profit (PKRbn) 0.06 1.61 2.43
ROE (%) 3% 59% 56%
EPS (PKR) 0.49 12.52 18.84
P/E (x) 113.2 4.48 2.97
P/B (x) 3.43 2.13 1.36
DPS (PKR) - 2.50 4.00
Div Yield (%) 0.0% 4.5% 7.1%

ahl
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Offline M&M

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Re: KOHC -- Kohat Cement
« Reply #50 on: September 03, 2012, 12:01:47 PM »
Q3 2012 Result

awesome result by KOHC
profit margins further improved from 29.89% to 32.2%

FY 2012 eps 11.2 intact

Potential target 50/- by annual result very much possible

 :good
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Offline pax

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Re: KOHC -- Kohat Cement
« Reply #51 on: September 03, 2012, 12:39:24 PM »
Upside of 80%? Seems a bit too good to be true ...

Online Tarzan

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Re: KOHC -- Kohat Cement
« Reply #52 on: September 10, 2012, 08:19:22 PM »
LAHORE – Despite hawkish stance of Competition Commission of Pakistan and an oversupply of around 13 million tons in the sector, the Kohat Cement Company Limited (KOHC) has been aggressively pre-paying its long-term loans, which is not only decreasing its fixed cost but also creating room for healthy payouts for equity investors. Experts said that strong pricing scenario in the domestic market along with cooling off coal prices and healthy demand outlook has been the driving factor for the cement industry. Despite hawkish stance of the CCP, cement prices in the domestic market jumped by 18 per cent owing free market economy forces in FY12 and remained resilient around Rs440/bag since April 2012. Experts believe that the pricing power of the industry to remain strong in medium term and assume per bag ex-factory prices of Rs 375 and Rs 370 for FY13 and FY14, respectively, compared to Rs 385/bag prices during 4QFY12. This coupled with healthy volumetric growth is likely to improve revenues at 4 year CAGR (FY11-15) of 17 per cent to Rs 11.2b. KOHC has achieved a 26.5 per cent YoY growth in domestic sales during FY12, a massive outperformance compared to the industry, which grew by an 8.8 per cent YoY. Exports on other hand suffered a steep decline of 29.6 per cent YoY to 273k tons; reducing total growth to 12 per cent, still better than the industry’s growth of 3.5 per cent. The company achieved a 4 years high capacity utilisation of 59 per cent in FY12, highest since it started operations of its expansion project. It is expected company’s volumes to grow at 4 years CAGR of 4 per cent to 1.9 million in FY16 from 1.7 million in FY12, with domestic demand and exports improving at CAGR 4.5 per cent and 1.5 per cent respectively.KOHC is amongst the few cement companies, which have paid attention to aggressively deleveraging its balance sheet using the opportunity provided from strong pricing scenario. Because of losses in FY10, the company had to reschedule its long term debt whereby it increased its grace period and deferred its mark up payments. However, strong pricing scenario created healthy cash flow generation for the company, which pouncing on the opportunity, prepaid its long term liabilities to the tune of Rs 1.1b in FY12. This is likely to reduce Debt to Capital ratio to 55 per cent in FY12 from 72 per cent in FY11. Aggressive deleveraging is expected to reduce finance cost by 49 per cent YoY to Rs 301 million in FY13, with a per ton fixed cost reduction of Rs 92. Amid strong cement pricing, healthy demand outlook and falling finance cost is likely to yield a massive growth at 148 per cent CAGR during FY11-15 to Rs 2.4b. The company is expected to generate strong free cash flow to equity of Rs 4/share and Rs 8/share in FY12 and FY13, respectively. This coupled with the fact that the company does not have aggressive capital expenditure plans.

http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/10-Sep-2012/kohat-cement-capacity-utilisation-reaches-59pc-after-four-years

Offline stockchild

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Re: KOHC -- Kohat Cement
« Reply #53 on: September 10, 2012, 08:28:35 PM »
expected eps in the range of Rs. 12-13. result on Thursday. next year expected eps= 18-20.   may well touch 100

Offline pax

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Re: KOHC -- Kohat Cement
« Reply #54 on: September 11, 2012, 11:02:14 AM »
Is this stock really that good a buy? Why aren't more people interested in this thread? Is this the next PKGP?

Offline pax

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Re: KOHC -- Kohat Cement
« Reply #55 on: September 11, 2012, 01:57:57 PM »
I've doubled my holding of this stock. I think it'll go up by a few rupees at least.

Offline mahmad786

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Re: KOHC -- Kohat Cement
« Reply #56 on: September 11, 2012, 03:19:32 PM »
I've doubled my holding of this stock. I think it'll go up by a few rupees at least.

Technically it is overbought and taking a bearish formation.
DISCLAIMER: This is shared for informational purposes and are not recommendations to any person to buy or sell any securities. Please do your own diligence if you are interested in this script.

Offline engrusama

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Re: KOHC -- Kohat Cement
« Reply #57 on: September 11, 2012, 03:36:05 PM »
in my non-expert opinion, KOHC and FECTC are the only cement scrips that still have margin to grow. both have excellent eps and both should give some dividend this quarter.. i expect re. 1 from Fecto and re. 2 from Kohat.

lets hope for the best.

Offline pax

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Re: KOHC -- Kohat Cement
« Reply #58 on: September 11, 2012, 03:41:14 PM »
Lets see. Board meeting is tomorrow.