₦airaland Forum

The cash cow is the upstream business which is not listed

mikeapollo:
Conoil is listed in the Oil and Gas sector

Guinness Returns to Profit
After a bruising FY24 loss of ₦54.8bn...

https://x.com/naijaticker

ositadima1:
Conoil?

Yeah.. but it's not as strong as it's supposed to be. How about our own GLO and the likes

Sunrisepebble:
The cash cow is the upstream business which is not listed

Walahi.. because I no day even feel any billionare vibes at all from Conoil..

The main money day private

Sunrisepebble:
The cash cow is the upstream business which is not listed

Yeah, Conoil downstream has always been there; he acquired the oil blocks (upstream) much later and doesn't want to expose his dollar profits to SEC scrutiny and NSEMPA wahala.

The game is the game

mikeapollo:
Yeah, Conoil downstream has always been there; he acquired the oil blocks (upstream) much later and doesn't want to expose his dollar profits to SEC scrutiny and NSEMPA wahala.

NB: Adenuga is bigger than the likes of Ote$,Elumelu, zenith bank founder and the likes, but if you see as they day move market, you will start wondering where is Adenuga

mikeapollo:
Yeah, Conoil downstream has always been there; he acquired the oil blocks (upstream) much later and doesn't want to expose his dollar profits to SEC scrutiny and NSEMPA wahala.

Sabiboy99:
NB: Adenuga is bigger than the likes of Ote$,Elumelu, zenith bank founder and the likes, but if you see as they day move market, you will start wondering where is Adenuga

The guy no send una

Agbalowomeri:
The guy no send una

Make he please come help street.. make he else our burdens.

yMcy56:
Newbies, all these big big stock names wey the Ogas here are mentioning, ask well before buying at current price because in my opinion, they may have to wait for q2 results to know the next direction, may not have high upside from their current prices for now......

Names like WAPCO already factored in the good Q2 when it moved from 80/85 to current price......
Could see some Ogas throwing numbers upandan......with some kind of manipulations ongoing there....
Remember there's a price tag on majority shareholders stakes....

It still get some other ones that already did 100%, 200%, 300%......make una look before you leap....

My advice: Look for the ones with potential 50% or more upside, those that are battered, not yet feel the bull run as such, trading at discount, around their 52 weeks low, strong fundamentals, those still lagging behind in their sectors and some with potential upside......
Like O&O, VFD, PZ, LEGEND, DS, ELLAH, JP, ACCESS, FBN, FCMB, LEARN, insurance, etc......
Na examples I give o 🙄

This is purely my opinion, make some marketers no come dey take you cash out anyhow...... 😁

Stage opened for bashing, defence etc 🤔

Same thought I had that made me miss Seplat at N3050
Same thought that nearly made me miss Wapco at N80. Now look at price today.

Thank God I bought at N80.

Bear or bull fundamental would stand the test of time.
Never look back from buying a good fundamental stock
You will surprised Wapco will enter N200

chinonsobest:
Same thought I have that made me miss Seplat at N3050
Same thought that nearly made me miss Wapco at N80. Now look at price today.

Thank God I bought at N80.

Bear or bull fundamental would stand the test of time.
Never look back from buying a good fundamental stock
You will surprised Wapco will enter N200

💯

chinonsobest:
Same thought I have that made me miss Seplat at N3050
Same thought that nearly made me miss Wapco at N80. Now look at price today.

Thank God I bought at N80.

Bear or bull fundamental would stand the test of time.
Never look back from buying a good fundamental stock
You will surprised Wapco will enter N200

The thing with stocks is just keep buying at avg prices or any little dip. And keep averaging down.

You can't time a stock and that's where many people miss it.. except you want to be jumping in and out, which is not very sustainable.

FBN may breakout now after retesting 31. It needs to close above 36.50 tomorrow.

Ginalex:
Chai first bank and Dangsugar will make me have plenty money like Megawealth01 1 day

Or better still, newbies can just buy the ETFs and rest. No need for individual stock selection.

Meristerm growth
Stanbicibtcetf30
Vetivaetf30
Meristem value, are all good etfs to begin with.

undead:
150 gaskia!!!

Tinubu 4 x 4, Oando up up.

Aisha, Rofiatu and Bankola, lovi lovi...

God bless Nageria!!!

God bless Abdul-'Alim !!!!!!!!!!!

God bless Madame, Madame, Madame !!!

My second you don land.
They said I be u and you be me

Abeg make I welcome myself..

Una go later realise not everyone lacks integrity on this thread even if it is faceless forum. Audio and gang on the beat

Agbalowomeri:
The guy no send una

Like you know
In the only agm/egm I have ever attended which was that of conoil. Mr nwosu asked the board present to beg adenuga to try and attend one agm. That he has never attended to any before for conoil. The man no send anybody massage....walahi

Cordros Registrars don send me sms reminder for Ellah EGM. I like them sha. Dem no stop with email bombardment. Dem don include SMS alert

Streetinvestor2:
Like you know
In the only agm/egm I have ever attended which was that of conoil. Mr nwosu asked the board present to beg adenuga to try and attend one agm. That he has never attended to any before for conoil. The man no send anybody massage....walahi

Na una sabi wetin dey pursue una

undead:
Tinubu 4 for 4, Nigara up up, Oando up up.

No be your moniker before before be dis o. I know say na another one you dey use in the days of "Oando don cast".. tell me if I dey wrong

SonofElElyonRet:
Cordros Registrars don send me sms reminder for Ellah EGM. I like them sha. Dem no stop with email bombardment. Dem don include SMS alert

First Registrars also sent me a reminder for AGM. But your power no go fit handle the name of the stocks.
Abi you go try am?
O' lagbara ju!

mikeapollo:
First Registrars also sent me a reminder for AGM. But your power no go fit handle the name of the stocks.
Abi you go try am?

Danwo lobi iya okere A trial will convince you

Hello my Ogas,

Please help lend your perspective to this mystery. I noticed that Honeywell Flour mills have not paid dividend since (2021, please correct me if I am wrong) but the share price has appreciated almost by 100% YTD. What is driving the value? Considering that the ability to pay dividend is a sign of a healthy stock in this market.

Thank you.

SonofElElyonRet:
Danwo lobi iya okere A trial will convince you

Ok, you asked for it,
The stocks is called Oan......!

mikeapollo:
Ok, you asked for it,
The stocks is called Oan......!

🏃🏃🏃🏃🏃🏃🏃

Champion Q2 as analysed by ChatGpt:

Here is a compact, military-grade forensic breakdown of Champion Breweries Plc – Q2 2025 (H1), using your MASTER PROMPT:


---

1. Income Statement (Tactical Revenue Analysis)

Revenue up 67% YoY to ₦15.93bn (₦9.54bn in H1 2024).

Gross margin expanded to 49.5% (from 39.1%), suggesting improved pricing or cost efficiency.

Operating margin: 24.2% (vs. 6.2%).

Net margin: 14.4% (vs. -4.1%).

EBITDA margin surging, driven by volume expansion + cost controls.

No FX losses this period (vs. ₦911m loss last year).



---

2. Balance Sheet (Asset Armor Assessment)

Assets rose to ₦25.95bn (+22% YTD).

PPE grew ₦900m; capex ₦2bn implies reinvestment.

Receivables jumped from ₦155m → ₦964m (🚨 flag).

Inventories up 35%: stockpiling for Q3–Q4 demand.

Cash still strong at ₦4.07bn.

No interest-bearing debt on books. Equity now ₦13.8bn.



---

3. Cash Flow Statement (True Liquidity Intelligence)

OCF: ₦2.19bn vs. ₦808m prior—strong earnings-backed inflow.

Capex: ₦2.02bn (vs ₦279m). Heavy investment.

FCF slightly negative due to expansion, not weakness.

No loan repayments or borrowings.

₦536m dividend paid.



---

4. Profitability Ratios (Return Combat Readiness)

ROE: 16.6%, ROA: 8.8%.

Gross margin: 49.5%, Net: 14.4%.

Strong operating leverage. ROE well above breakeven zone.



---

5. Liquidity Ratios (Short-Term Survival Scan)

Current ratio: 0.90x (improved, still sub-optimal).

Quick ratio: ~0.59x, cash ratio: 0.34x.

No immediate stress, but reliant on supplier credit.



---

6. Solvency Ratios (Long-Term Risk Surveillance)

Debt/Equity: 0.00x (debt-free).

Interest Coverage: 7.1x.

Clean balance sheet = high flexibility.



---

7. Efficiency Ratios (Operational Precision Audit)

Inventory Days: ~44; Receivable Days: ~11.

Asset Turnover: ~0.61x.

Working capital improving but rising receivables need scrutiny.



---

8. Valuation (Multifaceted Target Lock)

EPS annualized: ~₦0.51.

Fair value (PE 15x): ₦7.65.

DCF-derived value: ₦4.08.

Book value per share: ₦1.76 → P/B fair value: ₦2.11.

Fair range: ₦4.50 – ₦7.65.

Current market: ₦10.00 = overvalued (🚨 premium).



---

9. Historical vs Present Comparison (Time-Series Intel Mapping)

Revenue CAGR (3yr): ~47%.

PAT reversed from loss to ₦2.29bn.

EPS grew from -₦0.05 to ₦0.26.

Full margin structure reset since 2023.



---

10. Peer & Industry Benchmarking (Battlefield Positioning)

PE (Champion): ~20x (vs NB ~10x).

ROE: 16.6% (vs NB ~22%, IntBrew negative).

Champion priced aggressively despite smaller scale.



---

11. Notes to the Accounts (Codebreaker Review)

2024 comparatives restated for IFRS alignment (clean).

No borrowings. FX risks reduced.

Related-party fees disclosed (2% revenue to Enjoycorp).

Receivables surge not explained—track in Q3.



---

12. Management Commentary (Command Intent Evaluation)

Q4 noted as peak period (seasonality acknowledged).

Capex spending aligns with long-term reinvestment.

No explicit forward guidance.



---

13. Red Flags & Manipulation Checks (Financial Forensics)

Receivables: ₦155m → ₦964m = 🚨 investigate nature.

Free float remains low (13.6%).

No audit qualifications; IFRS restatement handled well.

FX exposure significantly reduced vs 2024.



---

Final Tactical Investment Recommendation

Call: HOLD
Justification: Quality earnings, strong recovery, solid margin control. However, current market price (~₦10) exceeds fair value by 30–50%. Better entry at ₦5.00–₦6.50. Trim or avoid fresh buys unless Q3/Q4 results blow expectations.


---

Forward-Looking Conclusion

Strategic Position: Debt-free, margin-led growth, heavy capex = long-term reinvestment cycle.

Catalysts: Q3 & Q4 volume surge, new product lines, Enjoycorp strategic actions.

Capital Fit: Yes—but not at ₦10. Re-enter at discounted levels for long-term upside.

SonofElElyonRet:
Cordros Registrars don send me sms reminder for Ellah EGM. I like them sha. Dem no stop with email bombardment. Dem don include SMS alert

Link for streaming of Ellah EGM fixed for 11am tomorrow already sent to shareholders via SMS

mikeapollo:
By the way, who are the Men in Black?

Just seeing this, as I've been distracted offline.

I'm afraid you'll have to to consult that glossary of nsempa slangs we compiled here sometime ago for accurate definition.
Sorry I can't dig it up right now and don't want to risk giving you slightly inaccurate definition.

But what I can share with you right now is that if Men In Black regularly attack two or three entities in your portfolio for just one year, you may find yourself scrolling upandan the Forbes List searching for your name.

N30 interim dividend from Okomu. Wow that is something huge

jeshurun08:
Hello my Ogas,

Please help lend your perspective to this mystery. I noticed that Honeywell Flour mills have not paid dividend since (2021, please correct me if I am wrong) but the share price has appreciated almost by 100% YTD. What is driving the value? Considering that the ability to pay dividend is a sign of a healthy stock in this market.

Thank you.

Regular payment of dividend is very important in assessing stocks. Yes, it is true.
But it is NOT the ONLY basis for assessing stocks. Other factors may cause stocks price to rise based on assessment of potential future prospects as determined by the market.
Honey Well wasn't paying dividends in the last 3 years or so because they were having some challenges and undergoing restructuring. Their majority shareholder (Oba Otudeko) was having several issues in the industry. They also had a protracted court case with one of their creditor banks (I think it was Ecobank). During this period, the share price was undervalued as low as N3 for a very long time.
But after it was acquired recently by FMN, investors saw huge potential for growth and profitability, partly explaining the huge jump from N3 to N27 in about three years.
From N3 to N27 is 800% gain. For those who think about dividends ALONE, Honey Well would not have produced this kind of returns even it were paying dividends consistently in the last 3 years.

Bottom line: choose the strategy that fits your investment goals and identify the right stocks that can give you the required returns: regular dividends or capital gain in the shortest possible time.
.

222Martins:
I am tightly seated with over a million shares in the same price range. I recall when Dangote Sugar was dropping fast from N80+, i told those in the bus to sell and re-enter at a lower price. That opinion was met with stiff emotional resistance. Now it is time to buy Dangote Sugar again, just sit and watch the arguments that follow.

Those who will make money from this forum are those who learn to filter noise/arguments and hard facts. My personal philosophy to every opinion or argument is that everybody is right today regardless of which side of the table you sit; but time will be the true judge of who was right or wrong.

good evening,am quoting you sir cus I follow you here on nairaland.please as a newbie.....how do I open account and be apple to buy now