Meghna Cement
15
description
PPT of Meghna cement & Valuation
Transcript of Meghna Cement
Heidelberg cement bd
sister concern: Heidelberg Cement Group (Germany in 1873)
Products: Ruby cement, Scan cement
Paid-up Capital: Tk. 565.04 million
Face Value: Tk. 10 per share
Market Lot: 100nos of share
Capacity: 2 million tonnes per year
Dividend policy
2009 2010 2011 2012 20130%
50%
100%
150%
200%
250%
300%
350%
400%
38% 43% 45% 50%
380%
Series 1Column1
2009 2010 2011 2012 2013
151
177
13.2722.85 26.09
EPS
EPS
Reformulated balance sheet
2009 2010 2011 2012 20130.00
1000.00
2000.00
3000.00
4000.00
5000.00
6000.00
7000.00
8000.00
2278.53 2412.952931.45 3018.81
2627.91
1693.955
2343.5512331.725
3281.213
4863.672
0
00
0
0
0
00
0
0
0
00
0
0
Chart Title
NOA NFA
Reformulated income statement Year 2012 2011 2010 2009 2008
operating income after tax801.0
8861.5
4518.9
31020.
501119.1
5financial income
47.99122.3
7214.8
4249.7
9344.38
Comprehensive income853.1
9996.19
747.19
1291.15
1481.04
2009 2010 2011 2012 20130.00
200.00
400.00
600.00
800.00
1000.00
1200.00
1400.00
1600.00
805.194175873.825874999999
532.349925000002
1041.361575
1136.657825
47.99122.37
214.84249.79
344.38
2009; 853.19
2010; 996.19
2011; 747.19
2012; 1291.15
2013; 1481.04
NOI NFI CI
Reformulated IS
2009 2010 2011 2012 20130
2
4
6
8
10
12
FCF
FCF Column1 Column2
Analysis of profitability
ROCE 2012 2011 2010 2009 2008
Meghna cement mills LTD
0.18 0.10 0.18 0.21 0.038
RNOA 2012 2011 2010 2009 2008Meghna cement mills LTD .13 0.09 0.10 0.09 0.064
change in ROCE
2012 2011 2010 2009 2008
Meghna cement mills LTD .0432
-0.008 0.0055 0.0471 0
Changs in RNOA
2012 2011 2010 2009 2008Meghna cement mills LTD 0.040
-0.019 0.006 0.046 0
Changes in CSE
2012 2011 2010 2009Meghna cement mills LTD
154,713,413
10,268,769
-8,526,31699,010,928
Beta and wacc
Risk free rate: 8.00%
Market return: 15.11%
Beta: .78
WACC at 13.52%
Valuation Method Price(TK)
Relative (P/E multiple)
484.23Residual Earnings
296.06Abnormal Earnings Growth 633.03
FCFV 388.57
VALUATIONS
