KLSE:MAGNI Q1FY25 results

Date: Sept 4, 2024

Topic: KLSE:MAGNI Q1FY25 results

Author: Handzalah

• Direct and indirect director ownership amounted for 54.14% of all ordinary shares
• 95.3% of revenues came from the garments segment
• Revenue growing faster YoY than operating expense at 34.9% and 33.3% respectively
• Investment related income rose by 58.8% YoY
• Packaging revenue YoY decline of 6.4% and PBT YoY decline of 72.6%
• Net income attributable to owners rose 36.4%
• 2.18% of haram income from revenue, attributable to investment related income
• 78.6% YoY increase in dividend per share attributable to higher profits, (RM 0.05 in DPS)
• Dividend payout increased to 48.5%
• Cash and bank deposits increased
• Still no debt and leases
• QoQ revenue growth of 29.9% and PAT of 29.3%
• “The global economic outlook remains uncertain but resilient despite the current geopolitical
tension, cautious consumer spending, and other economic challenges.” – mentioned in the
quarterly report under future prospects
• NCAVPS increased to RM 1.92 per share, increasing the probable floor price
• Market value day over day change of ~ +10% to RM 2.51
• NCAVPS as percentage of MV = 76.5%
• Our updated estimate of MAGNI’s intrinsic value increased to RM 5.37 per share which shows
a upside of 113.9%, this assumes modest but optimistic view on the company’s foreseeable
operations