CSEC.N is it worth to buy?

Principal activities
The Company manages a portfolio of investments consisting of diverse business operations, which together constitutes the Dunamis Group and provides function based services to its subsidiary and associate companies.

The Group recorded revenue of Rs.3.7 billion as against Rs. 2.75 billion last year. Compared to the Loss after tax of Rs. 394.5 million last year, they achieved a remarkable turnaround with a Profit after tax of Rs. 353.5 million this year.Such favourable reversal is attributable primarily to the exceptional performance of the First Capital Group and also the Kotmale Group.they have reduced their finance & other cost  as a result of implementing stricter financial discipline and the significant reduction in borrowing costs.
The Group’s activities comprised of Financial Services, Dairy Products, Housing Development, Land Sales and Educational Material Export,
in addition to that group recorded   PAT  Rs 126890 for the last quarter.

#csec                                                                                                                                                                                                      Qtr " 000'                                                                             30/06/2010  31/03/2010  31/12/2009  30/09/2009  30/06/2009 PAT  126,890  (82,800)  2 48,857  1 49,832    58,303 EPS  1.00                 (0.45)                     1.65                         0.88     (0.14)                                                                                                 Total for F/Y 2009/10                      353,504                                                                                                                                                                Last 12 month profit                             374,192                                                                No Of shares                                   98,397,640                             EPS                                                           3.80                                                                                                                                                          ROE        30/06/2010         31/03/2010                                                        PBIT       188,511                 (106,020)                                                                                                                                                            ROCE     19%        -14%                      ROE        20%        -15%                                                                                                                                                      Current trading PER                            3.42                                                       Sector PER                                       34.60                                                        Annualized EPS                                   4.00                                                                                                                                                         Expected MV                    Rs 13.68                                                                                                                                                    if we assume it is trading with 5 PER   expected MV - Rs 20                                                                                                   Debt to equity ratio - 7%

     

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