External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul>
<li>Pakistan listed Consumer sector is currently trading at FY26 PE of 11.3x which is at a discount to its historical average of 17.75x.</li>
<li>Segment wise, consumer staple (FMCG) is trading at FY26 PE of 14.3x vs. 10-year average of 23.27x, pharmaceutical is trading at FY26 PE of 12.3x vs. 10-year average PE of 20.69x and consumer discretionary is trading at PE of 7.9x vs. 10-year average PE of 9.3x.</li>
<li>Sector witnessed 5-year and 10-years sales/profit CAGR of 16%/20% and 14%/15% respectively while a D/Y of 6% in FY26.</li>
</ul>


Pakistan listed Consumer sector is currently trading at FY26 PE of 11.3x which is at a discount to its historical average of 17.75x.
Segment wise, consumer staple (FMCG) is trading at FY26 PE of 14.3x vs. 10-year average of 23.27x, pharmaceutical is trading at FY26 PE of 12.3x vs. 10-year average PE of 20.69x and consumer discretionary is trading at PE of 7.9x vs. 10-year average PE of 9.3x.
Sector witnessed 5-year and 10-years sales/profit CAGR of 16%/20% and 14%/15% respectively while a D/Y of 6% in FY26.


Hong Kong

THAC Group (Holdings) Limited is an investment holding company primarily engaged in the operation of casual dining restaurants and bakery shops, and the production and sales of bakery products. The company manages brands such as "Classified" and "Rise by Classified" in Hong Kong, offering artisan breads, cheeses, wines, pastries, and locally sourced retail products. It was founded in 2006 and is headquartered in Kwun Tong, Hong Kong.

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THAC Group (8232 HK)

Pakistan Listed Consumer Comp Sheet

Pakistan listed Consumer sector is currently trading at FY26 PE of 11.3x which is at a discount to its historical average of 17.75x. Segment wise,...

Topline Securities

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