Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

DigiPlus Interactive Corp (PLUS PM) Q1FY26: Slow Recovery Underway

DigiPlus Interactive (PLUS PM): InvestPH Conference Meeting Highlights

DigiPlus (PLUS PM): PAGCOR Crackdown Drives De-Rating — But the Rules Change A Long-Term Positive

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>Gross revenue fell 9% quarter-on-quarter to PHP 15.6bn, yet NGR (Net Gaming Revenue) rose 1% to PHP 5.52bn, and EBITDA rose 7% to PHP 2.84bn.</li>
<li>MABD (Monthly Average Bettors and Depositors) rose 26% to 4.68mn, while MAU (Monthly Active Users) held at 5.75mn, indicating a deliberate shift from per-user spend to user count.</li>
<li>At PHP 9.50, the shares trade on 4.2x FY26e earnings, 2.5x EV/EBITDA, 0.96x book and a 7.6% dividend yield on the revised estimates.</li>
</ul>


Gross revenue fell 9% quarter-on-quarter to PHP 15.6bn, yet NGR (Net Gaming Revenue) rose 1% to PHP 5.52bn, and EBITDA rose 7% to PHP 2.84bn.
MABD (Monthly Average Bettors and Depositors) rose 26% to 4.68mn, while MAU (Monthly Active Users) held at 5.75mn, indicating a deliberate shift from per-user spend to user count.
At PHP 9.50, the shares trade on 4.2x FY26e earnings, 2.5x EV/EBITDA, 0.96x book and a 7.6% dividend yield on the revised estimates.


DigiPlus Interactive Corp. (PLUS PM): GGR Decline Disappoints But Metrics Trending Better