QL (7084) – Fundamental Analysis (9 Mar 2015)

QL (7084) – Fundamental Analysis (9 Mar 2015)

QL Analysis:-

Excel – http://1drv.ms/1Gi3hOr

Notes – http://tinyurl.com/nzskxef

My View:-

Valuation:
       
Absolute EY%:
           
Trailing:
               
FY14 (EPS: 0.138) – Fair value 2.85 (Fair Value Uncertainty: VERY HIGH)
               
R4Q (EPS: 0.148) – Fair value 3.05 (Fair Value Uncertainty: VERY HIGH)
           
Forward:
               
FY16 (EPS: 0.174) – Fair value 3.59 (Fair Value Uncertainty: HIGH)
               
FY17 (EPS: 0.193) – Fair value 3.99 (Fair Value Uncertainty: HIGH)
           
EPS applied to reach the current stock price (3.75): 0.182
   
QL establishing its marine segment with new capacities and diversification into new aqua business such as prawn farming, in view of better surimi prices.
   
On the downside, risk relating to CPO price remains a threat and growing palm oil acreage in Indonesia could help lessen this, going forward.
   
Outlook on ILF segment may not positive due to the high raw material feed cost.
   
Valuation of QL is not attractive.

Latest Financial – Q3 2015 Financial Report (26 Feb 2015) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1886069

At the time of writing, I did not own shares of QL.

https://lcchong.wordpress.com/2015/03/09/ql-fundamental-analysis-9-mar-2015/