Vriddhi Consulting

Punit Khanna

Independent Insight Provider

Equity Bottom-Up

DKSH Holdings Malaysia / Equity Bottom-Up

<ul>
<li>Revenues for 9 months up 7% while profits are up 7.5%</li>
<li>Margins improved across both divisions, Healthcare and Consumer. Working capital marginally increased.</li>
<li>4th quarter is the best quarter for the company due to the festive season.</li>
</ul>
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<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><strong><em>For your kind consideration</em></strong></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum. We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a></p>
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Revenues for 9 months up 7% while profits are up 7.5%
Margins improved across both divisions, Healthcare and Consumer. Working capital marginally increased.
4th quarter is the best quarter for the company due to the festive season.


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum. We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL.


<ul>
<li>Revenues are up 7% YoY &amp; down 10% QoQ and net profits are down 10%</li>
<li>Historically 2nd quarter is weak quarter as 1st quarter sales are influenced by festival seasons</li>
<li>Reason for improvement in margin is higher raw material on own brands, increased labour cost and FX losses.</li>
</ul>
<div class="content-highlight">
<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><strong><em>For your kind consideration</em></strong></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/giving-sg-donate-campaign" target="_blank" rel="noopener">please visit this URL.</a></p>
</div>


Revenues are up 7% YoY &amp; down 10% QoQ and net profits are down 10%
Historically 2nd quarter is weak quarter as 1st quarter sales are influenced by festival seasons
Reason for improvement in margin is higher raw material on own brands, increased labour cost and FX losses.


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL.


<ul>
<li>It has stable free cash flow generating business which involves own marketing own brands, distributing consumer and healthcare products in Malaysia</li>
<li>The company has double digit ROE and trades below Book Value per Share</li>
<li>Trades at significantly lower  valuations to its parent and  other Malaysian consumer stocks</li>
</ul>


It has stable free cash flow generating business which involves own marketing own brands, distributing consumer and healthcare products in Malaysia
The company has double digit ROE and trades below Book Value per Share
Trades at significantly lower  valuations to its parent and  other Malaysian consumer stocks


DKSH Malaysia Stable Free Cash Flow Generating Business Available at Attractive Valuations

<ul>
<li>Revenue up 7% Y on Y basis.  PBT and PAT up 19% </li>
<li>Operating profit of both consumer and healthcare business was up 15 &amp; 18% respectively</li>
<li>Cash flow from operations up by 11% and working capital improved</li>
</ul>


Revenue up 7% Y on Y basis.  PBT and PAT up 19% 
Operating profit of both consumer and healthcare business was up 15 &amp; 18% respectively
Cash flow from operations up by 11% and working capital improved


DKSH Malaysia: Excellent 1st Quarter Performance

<ul>
<li>Stable and free cash flow generating business available at attractive price</li>
<li>Trades below book with double digit ROE and at Significant discount to its parent valuation</li>
<li>Priced towards low end of historical PE and P/B ( similar to COVID valuations)</li>
</ul>


Stable and free cash flow generating business available at attractive price
Trades below book with double digit ROE and at Significant discount to its parent valuation
Priced towards low end of historical PE and P/B ( similar to COVID valuations)


DKSH Malaysia (DKSH MH):  Stable Business Available at Attractive Valuation

Malaysia

DKSH Holdings Malaysia Berhad is principally an investment holding company. The principal activity of the Group is the provisioning of Market Expansion Services, which range from marketing, to sales force management, distribution and logistics, invoicing and credit management, inventory and returned goods management, and other services.

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DKSH Holdings Malaysia (DKSH MK)

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

DKSH Malaysia: Good Set of 3 Q Results

Cheapest consumer stock in Malaysia and the region with good ROE and low P/E, where earnings growth looks sustainable. ​

Punit Khanna

DKSH Malaysia : 2nd Quarter Results

​Stable consumer and healthcare business, generating double digit ROE, trading below book value with 4% dividend yield.

Punit Khanna

DKSH Malaysia Stable Free Cash Flow Generating Business Available at Attractive Valuations

​Article highlights a Malaysian company with stable cash flow, strong ROE, and attractive valuations compared to its peers and parent company.

Punit Khanna

DKSH Malaysia: Excellent 1st Quarter Performance

​Company's revenue, profit, and cash flow all saw significant increases year on year, driven by strong performance in consumer and healthcare sectors.

Punit Khanna

DKSH Malaysia (DKSH MH): Stable Business Available at Attractive Valuation

​Article highlights a stable, cash flow generating business trading at an attractive price, with a double digit ROE and significant discount to its...

Punit Khanna

Cheapest consumer stock in Malaysia and the region with good ROE and low P/E, where earnings growth looks sustainable.

Stable consumer and healthcare business, generating double digit ROE, trading below book value with 4% dividend yield.

Article highlights a Malaysian company with stable cash flow, strong ROE, and attractive valuations compared to its peers and parent company.

Company's revenue, profit, and cash flow all saw significant increases year on year, driven by strong performance in consumer and healthcare sectors.

Article highlights a stable, cash flow generating business trading at an attractive price, with a double digit ROE and significant discount to its...