File: Inari Amertron Bhd - Not Too Late, Still Has Legs

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1 comment(s). Last comment by sosfinance 2014-04-04 10:10

sosfinance

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Posted by sosfinance > 2014-04-04 10:10 | Report Abuse

1. HLG actual and forecast profits (June FYE) 2013A - 2016F = RM42m, 95m, 122m, 138m

2. Assuming HLG projection is accurate, short term (3 years) CAGR = 50% p.a. , EPS on 2016F is 29sen

3. Forward PE (based on 2016F) = 279/29 = 9.6 times (EV/EBITA = 6.6x)

4. Compare with regional and other local stocks in related biz, forward PE 12-15x., Inari price is not demanding

5. Upside is there. FV is roughly RM3.70 to RM4.70, or 30-60% upside, not bad, excluding announcement of BONUS ISSUE (the public or retail investors love it, same pie, more pieces) and upgrade to MAIN BOARD (positive move, from boy to man premium?).

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