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Aluminium - Snapshot

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Aluminium - Snapshot

Post by First Guy on Tue Jul 28, 2015 10:40 pm

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Since Aluminium has been a hot topic!

LALU numbers are as at March results while ALUM and PARQ are updated for June.

Interesting trendline and trading multiples. In fact, looks like the market got it correct again. ALUM has better ROE and trading at better price. But is the gap too much?

How does future growth look like?
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Re: Aluminium - Snapshot

Post by First Guy on Wed Jul 29, 2015 9:37 pm

In the above table, EPS was taken directly from the reports. LALU has a gain on sale of subsidiary reported in the December 2014 report. If that is excluded, trailing P/E comes to 9.3x (based on yesterday's price)
Either it's too expensive or PARQ is cheap. I think it's both.

Look at LALU's trend. Not so good compared to others.
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Is the market expecting anything better? Or is it ready for a slide when results come out?
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Re: Aluminium - Snapshot

Post by hariesha on Mon Apr 23, 2018 12:07 pm

World aluminium prices have hit seven year high and prices are expected to surge further. Rupee has depreciated to all time lows.

How our Aluminium companies will face the new challenges. All three companies are in negative cash flows with increasing borrowings and operating expenses. Ability to pass the costs to buyers will be key. But recently added capacities will be a deterrent to price revisions, if demand not improved sufficiently.

Historically ALUM has played well with volatile aluminum prices. But now they are with high gearing which might limit their maneuvering.

As investors point of view, I think sector is not attractive at current prices.

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Re: Aluminium - Snapshot

Post by yellow knife on Mon Apr 23, 2018 12:40 pm

Thanks Hariesha

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Re: Aluminium - Snapshot

Post by CK on Mon Apr 23, 2018 1:09 pm

Avoid these shares as this is impacted on present imports and hence profit margins will be lower in future.
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