₦airaland Forum

SonofElElyonRet:
Actually I just watched the EGM till the end.. the loans are still coming in and the deadline is close of work today. Chuka said as at time of meeting, the amount to be converted is under N4b but of course, more loans are acceptable till close of work.. he said they can't afford even the associated costs of raising capital e.g SEC etc fees so they need the extra funds. He said the total debt to equity amount will be contained in the quarterly report to be released in about 2 weeks time. Not peculiar to Ellah that directors in Nigeria like to make money when opportunity arises.. dem go grant loan pass wetin dem need I'm sure, so that they can get the shares at N2.80. my own be say make the "significant agricultural asset" to be acquired be worth it and change the fortunes of the company.. Chuka spoke well today.. na God talk say make him collect mic from chairman.. he explained how capital intensive it's been clearing and planting that huge number of hectares. Gave a breakdown of cost. Also said the company is now at the stage of transformation. Something hoooooge is about to happen

p s. Important thing is that people should look past the soon to be released quarterly report. The future is bright

Well, i agree but the truth is they are burning too much cash and diluting too much for the expected revenue.
During my calculation, They were burning on average less than 1b naira negative free cash flow per year.
So, if they claimed to have burn 4b so far within this fiscal year, that amount is enough to run the farm for 4 years and not just a short period.
Last year was around 600m negative cashflow (total cost of running the farm)
In 2020 - 440m was used to run the farms and 2.2b to buy PPEs). total burnt 2.6b
In 2023 - 490m was used for OCF + 16.7m in PPE. Total burnt 510m
in 2024 - 286m used on OCF + 212m in PPE). Total 498m
Q3/25 - so far so good, in the past 9m of 2025 FY, they have spent 507m on daily running farm operations and another 212m in capital expenditure) Total is 719m.
So how come they are have been burning billions, billions and more billions to come running the company?
If you calculate the amount shareholders have invested so far in equity since 2022 plus director's loans converted so far, it is enough to run the farm till maturity.
Maybe i am wrong though

Sunrisepebble:
The result was not good enough to justify the price, that’s why the stock was on full offer for months, it was being pushed up by Otedola’s buying, whose objective is different to ours. I think now it’s due for a re-rating. With 10x EPS and 90% payout ratio, it should be a N600 stock

So with an estimated FY eps of #60 and a payout of 90%, you plan to recoup your investment in 11 years provided all things remain the same... this is your yardstick for entering most stocks?

Omooloriredade:
Just passing by

Omooloriredade ...... i do like your write-up and comments.
Your moniker points to you coming from Ondo (i will say i am 75% correct)

Chubhie:
You're a leader. What if your ancestors are channeling the family blessings through you? You want to go petty and AWOL?

Oga abeg leave that.
No ancestor is channeling the family blessing through me.
That is gaslighting.
The family get plenty ancestors to channel enough blessings through the few currently alive.. not only me.

Therock5555:
I wish I was in your position man... You don't know how I wish everyone could leave me alone to just build my life even if it's for a year...


You fit dey on budget dey try manage your life and one sibling you haven't heard from in months would just pop up with one ridiculous but necessary billing, next thing you're broke all over again....

I can relate

pansophist:
You care too much that is why, and they can smell it.

Assured support to others does not make them stand on their feet, but make them strategise and deepen their dependency on you.

Until you put a stop to it, it wont stop. And even if they have money tomorrow, they will compose like they dont, so the first point of salvation will always be you.

They will exploit your desire to ''maintain the family'' for their selfishness.

They are mining your pocket, and have retained the moral high ground to manipulate by saying ''sebi you know we dont have, if we have, we wont be asking''.

But tell them to learn a new skills, get a job or not make stupid financial mistakes, they wont accept.

You have to understand and accept that some people wants to be in a permanent position of helplessness. Its better to get free 150k than work for 300k.

See the game for what it is and play strategically. You dont have to explain and be angry that you see their tricks, its a game of silent moves. Just do not show up anymore, and your default anthem should be ''I no get".

Be strategically greedy.

look for legitimate excuse, as a reason why you cant help. Because I promise you, if you die today, this people will live fine and may even buy a car soon, but they refuse to move forward because you have made your self their lord and personal saviour.

Hmmmmmm.... i think you are talking to me.
I am currently in a mess where my 2 brothers have become a heavy burden on me to carry and over time now, i have developed this cold, i don't care attitude.
I wasn't like that before but i know if i continue on the path of carrying everyone along, sooner or later i will be down with them too and at that point, they will somehow find a way to survive while i struggle to climb up again.
And after all you have done, you will still be hit with the question - What did you do for us? Have heard this so many times from my uncles to my mum who brought them from our village to town and tried setting them up.
The truth is, many humans won't work if given the chance but wants to live a good and fancy life.
They don't want to hustle like you but wants to live like you - use your type of car, live in your type of house while not interested in the hours and time you put in to achieve that.
Infact, my immediate brother once spoke angrily that "as God don bless me, i dey wicked because instead of lifting the burden on their head, i wan make them pass through wetin i don pass through too"
He says God as blessed me so that i will become a blessing to the family by lifting the remaining.
To be frank, he has a statement and tbh, i have tried and done my best within my capacity to help and lift them but it just seems the more i do, the more they expect me to do.
I bought car for my parent .....Ohhh, maybe he can build the house since he has it.
Then i helped them roof the house ... Oh, i think he has what it takes to send me abroad.
Then struggled to gather money to send him to UAE (work visa....working on arrival)
Ohhhh .... he only sent me to a dry land and desert, why not canada, US, UK.. He has the money. Don't we know what he has done in the past?

SonofElElyonRet:
Obviously you are not informed at all. Chuka Mordi has repeatedly answered in the affirmative. Even today. Why not spare time to watch the EGM on YouTube?

I watched it.
He only touched the issue briefly.
He said the mill is operational and the shareholders gave a round of applause but the question is how many tons are the processing per day? and if we are to expect revenue from the report he promised to release in 2 weeks time.
We will see.

jideflash:
the way the ceo is smiling after the resolution vote. u go know say his plan don enter. 3bn debt converted at 2.8naira, with current price of 10naira. the guy don clean mouth.

They claimed the loan was issued when the price was #2.80. It is well

GeeKudi:
He also reiterated that a mill has been built but he didn't say anything about the promised commissioning of the mill. Has the mill been commissioned? Has it started refining oil and adding to the revenue of the company?
They need to be deliberate in letting the shareholders know what is going on with the company.

I don't know why none of the shareholders raised that question.
As the company started generating revenue or not? Simple.

Still on onado

megawealth01:
Make I analyze Oando small...

Oando is not operating at a negative EPS as of Q1 2025. The company reported an EPS of ₦9, up from ₦5 in Q1 2024 .


But here’s the nuance you should know:

1. Operating and Pre-tax Losses

Despite the positive EPS and bottom-line profit after tax (₦113 billion), the company recorded an operating loss of ₦120.3 billion and a pre-tax loss of ₦52.6 billion in Q1 2025 .

This means reported profit was largely due to exceptional items, not core business profitability.


2. Profit Masked by One-Off Gains

Two major non-recurring items drove the net profit:

A ₦165.6 billion tax credit

A ₦182.3 billion reversal of impairment losses


These pushed post-tax profit into positive territory despite operating losses .


3. Parent Company Still Loss-Making

At the company level, Oando Plc recorded a ₦28.9 billion loss in Q1 2025, though this improved from a ₦210.9 billion loss in Q1 2024

Oando expected resistance price

WritterNg:
⚡France will recognise the state of Palestine in September, President Macron says. He added:

“True to its historic commitment to a just and lasting peace in the Middle East, I have decided that France will recognize the State of Palestine.

I will make the solemn announcement at the United Nations General Assembly next September.”

It is a big lie.
They have always been shifting the date.
Before September, Netanyahu will annex west bank and over-run Gaza with soldiers and France will have to face Isreal head-on to do that which makes it impossible.
If you want to recognize a state, go in forcefully and do it and stop coming to the media.
The same power you all used to establish isreal against the locals demand, the same strength you used in establishing South sudan by forcefully going to Sudan with US/UN with ballot box to conduct referendum in South sudan against Sudan's agreemnet.

seguno2:
Kenya, Ivory Coast, Senegal, Botswana and a few other African countries offer a better QUALITY of life than ours.

Good, then relocate there. You have ecowas passport, going to Ivory coast or senegal shouldn't be that hard.

Gerrard59:
Interesting. Tensa20 was right when he stated that aside from South Africa, the rest of the continent is no better than Nigeria.

Na person wey neva tour Africa someone can be deceiving with numbers and statistics like GDP, PPP etc.
Aside the Arab Africans and South Africa down here, no other Sub-Sahara African country is better than Nigeria and i stand to be corrected.

Guiness posted a decent report.
H1/25 EPS of 740k with a stronger Q2/25 of 433k EPS.
They have a very big and worrying payable of 182b.

emmanuelewumi:
I know when you got the loan.

You can rollover when it matures

Have paid off the first one i got in december and took another one last 2 months to acquire more wapco and others.

emmanuelewumi:
Presco should have H1 EPS of about N100 and full year EPS of N200

Yes, I am expecting #200 EPS for Presco FY too.
Honestly, Nahco is still my best so far in dividends because they payout 90%.
I am always happy receiving their dividends

Took some ucap loans to accumulate more Nahco and wapco late last year and early this year and never regretted it

emmanuelewumi:
I prefer using EV/ EBIT or EV/EBITDA- Capex.



If I must use EBITDA, I will subtract Capex.


It gives a better and cleaner valuation

Nice one.
I think I will be using the EV/EBITDA - Capex to compare too now.
🙏

SonOfNobody:
Okomu Q2

https://doclib.ngxgroup.com/Financial_NewsDocs/44580_OKOMU_OIL_PALM_PLC.-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JULY_2025.pdf

Omoh..
#49.8 H1/25 EPS
Estimated FY eps #100
Implied FY price #1,000.
Okomu, Presco, Lafarge and Nacho are my premium stocks in my portfolio

Agbalowomeri:
How do you have common sense target for a negative EPS according to your formula?

You use the price to sales now or EV/EBITDA common sense now

megawealth01:
Nigeria matter still being handled by ANGELS

My brother.
It is really well

stokfrick:
Corruption is what will keep killing everything in this country including the ngx. Every now and then they'll come on the news and be urging nigerians and local investors to take advantage o the NSE, but how will it work when the system cannot be trusted? The level of insider trading going on in the Nigerian stock exchange is alarming! All those who work there and in the quoted companies, are deeply involved in this!
Before a company's result comes out, they've already seen it, and the price have moved far even before it becomes public.
Highly demoralizing!!
It's a shame really.

It is the reason so many things and sectors are not working in Nigeria.
It is the reason our level of education has gone down.
How do you encourage pupils to study hard and read when some are seeing the waec and jamb questions before exam.
Student seeing questions in school before test and exams in internal school exams.
Such system does not encourage hard work, researches and innovation.
Why spend thousands and millions to learn fundamental and technical analysis courses when you can get results before they are made public ?

Ginalex:
NAHCO my love. The relationship was good while it lasted. Exited most of my holdings at 117.2. Sweet 55% ROI. Left tashere 2k unit for monitoring ... What to buy is the next wahala. abi I should load more Cadbury

Why exiting so early? at just 55% ROI?

megawealth01:
CADBURY and PZ

Though i have PZ but i am still not fully confident about their fundamentals.
Their next report will determine my next action.

Agbalowomeri:
Bear go soon chase you away

Bears make money, Bulls make money while the PIGS get slaughtered,