Aisha Steel Mills Limited (ASL): Macro headwinds and shrinking margins to take their toll in 4QFY19 – By JS Research
<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Local flat steel producers’ have been suffering from slow
demand due to macro headwinds and excess supply after expansion of existing
manufacturers (i.e., ISL 450K CRC and ASL 250K HDGC).</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">ASL is expected to post 4QFY19 LPS of Rs0.19, against EPS of
0.35 in the same quarter last year.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect ASL to post a full year loss of Rs278mn (LPS
Rs0.40) in FY19 compared to EPS of Rs1.72 last year.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Finance costs are expected to be 80% higher YoY in FY19 due
to debt base e...
