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DPL.N0000 (Dankotuwa Porcelain PLC)

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DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 11:55 am

It is not nice to write un-confirmed stories among research type information. But for DPL I add these gossip model stories where these stories share valuable meanings irrespective of they are true or false.

==============================================

1. This was a Janatha Company.( People's Company). Therefore there is a very powerful workers union.
When this company was listed, its Union wanted to continue circulating monthly reports but as per requirements of listed company you have to publish only quarter reports. So there was a conflict of reporting style initially. ( may be false)


=============================================


2. This company had a management change and Japanese got into management. In the first meeting with the Japanese management, the Japanese head asked from the CEO what are the problems he forsee with the Japanese collaboration. CEO sensing a possible problem with the communication with foreigners by his employees said that the English knowledge of the average worker (Sri Lankan) is not upto the standard.

Japanese Head said

"Mr. K.... B......, here what we manufacture Ceramic items and not English..So don't worry about the quality of English but Ceramic"

(no source to refer..may be false story among workers )


======================================================

3. This company went for a right issue in 2007. Just before them JKH went for a rights issue which was the biggest rights issue upto then in Sri Lanka. After getting the rights fully subscribed JKH did nothing but invested in Treasury bills which the subscribers could have done it themselves alone. Therefore the next right issue by DPL was not a successful one.

( Can remember so, but could not really find proper sources either to prove or to reject )

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 11:57 am

Revenue of the company was slowly growing

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 11:59 am

Eventhough revenue shows a growth the PAT shows that company is not well managed

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:00 pm

EPS does not persuade any logical buyer for this company at present

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:03 pm

When companies fail to report good earning the only fact that keep the price falling beyond a certain amount is Net Assets.

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:09 pm

DPL.N is a company that was subject to Price-Band during bubbling 2011.

Anyone who has purchased DPL at highest during 2011 would never be able to sell above his cost in near future.


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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:11 pm

Company maintain data of pieces produced in two categories: white and decorated.

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:17 pm

Yet the most important graph is following. It shows that local purchased number of pieces is about to overtake exported number of pieces.

Since the data is based on number of pieces it shows the real picture which otherwise would have been hood-winked by Forex fluctuations.


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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:45 pm

Above charts shows the problem we Sri Lankans are facing.

We are not export oriented.

DPL.N in one of last annual reports state that Europeans are moving away from Fine-dining culture and the ceramic sets are getting out of European tables.

2014/15 annual report shows the alternative they have taken.

" your company is now aggressively refocusing its business on high growth emerging markets and significant ground work has already been done to rapidly expand the company's operations in India including the launch of our own showrooms in India with products developed by both DPL and RFPL specifically for Indian consumer."

We, Sri Lankans have not understood properly the Indian up-market and tourism by generalizing after viewing few poor Indians and by listening to cheap Politicians.

India is the country where DeBeers the Diamond manufacturer is looking at. Many Hindi and India based movies are trying to promote Diamonds in the country. Happy New Year, Krrish and many other Diamond Robbery movies are promoters targeting upper middle-class of India.

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:52 pm

Rights announcement today


DANKOTUWA PORCELAIN - RIGTHS ISSUE (DATES)
DANKOTUWA PORCELAIN PLC
Company ID: - DPL
Date of Initial Announcement: - 30.Jul.2015
Proportion: - Five (05) new ordinary shares for every four (04) existing ordinary shares held
Issue Price: - Rs. 8.00 /-
Qty Offered: - 90,307,178
General Meeting / Provisional Allotment: - 04.Nov.2015
Date EX: - 05.Nov.2015
Dispatch of Provisional Letter of Allotment: - 12.Nov.2015
Trading Commences on: - 18.Nov.2015
Renunciation: - 26.Nov.2015
Last Date of Acceptance & Payment: - 27.Nov.2015
Share Transfer Book Open

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 14, 2015 12:56 pm

This is another company where Top is on Margin Account. Thus rights issues as well as dividends on slight EPS is inevitable.

However I like to quote a nice term.

There is a difference between Asset Traders and Entrepreneurs.

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by xmart on Wed Oct 14, 2015 2:33 pm

good post YK. i was eyeing this too. thanks again
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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by indi009 on Wed Oct 21, 2015 5:10 pm

All and all is it worth of buying it or not.

Please give us your idea.....
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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Wed Oct 21, 2015 5:20 pm

Indi

Just evaluate yourself and buy what suits you

It seems you are impatient so buy things that give quick gains..

DPL will not give quick gains

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by smallville on Fri Oct 30, 2015 8:26 am

DPL Gave a ST opportunity to profit.. dats all.. Any ideas on rights usefulness?

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Fri Oct 30, 2015 8:41 am

DPL is a a good company if it falls to right hands to own it.

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Fri Oct 30, 2015 8:44 am

What I meant above is DPL is currently owned by Asset Traders and not in the hands of entrepreneurs... If a manufacturing company to grow it should be in the hands of entrepreneurs...

Dr. Sena Yaddehige and even Dammika Perera are good entrepreneurs where as Taprobane or Lion Heart are mere asset traders..

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by Backstage on Fri Oct 30, 2015 11:35 am

Porcelain is a difficult business. Some time ago I met a marketing manager of on of the biggies, and he was saying the Chinese are offering below Sri lankan cost prices. DPL (as most other export manufactures here) can only survive by finding themselves an up market niche where the margins are more comfortable. Industries where economics of scale count, we don't have a chance. We can learn from the Korean experience of the importance of long term strategy , but not just use their strategy for obvious reasons.
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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Fri Oct 30, 2015 1:14 pm

agreed BS

But the commitment from owners is needed...

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by Backstage on Fri Oct 30, 2015 1:30 pm

yellow knife wrote:agreed BS

But the commitment from owners is needed...

Or coercion by the state within a strong long term industrial vision/policy.
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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by yellow knife on Fri Oct 30, 2015 1:56 pm

Yeah.... development is purely a political leadership's job...

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Re: DPL.N0000 (Dankotuwa Porcelain PLC)

Post by Ethical Trader on Fri May 05, 2017 11:49 am

I just visited this nicely presented thread on DPL. Thanks YK for your expert presentation. Continue the good work. Its time for you to do an analysis on current situ.
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