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

The Week That Was in ASEAN@Smartkarma - SPINDO Is Piping Hot, DigiPlus, and Malaysian Banks

DigiPlus Interactive (PLUS PM): Galloping Away Into A Strong Q2 FY25

DigiPlus Interactive (PLUS PM): Six Billion Peso Buy Back To Counter Negative News

DigiPlus Interactive Corp (PLUS PM): Solid Q3 2024, Enter the Peak Q4 Season

Shortlist of High Conviction Philippines Equity Ideas and Updates from PSE Conference - March 2025

Digiplus Interactive (PLUS PM): FY24 Earnings Preview, Cheap Despite Quadrupling Since Jan 2024

Shortlist of High Conviction Philippines Equity Ideas - February 2025

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>PAGCOR forecasts a strong FY25 industry GGR of 450 bn pesos (20% YoY), of which the share of bingo/casino games is expected to be 50% (~225 bn pesos).</li>
<li>If <a href="https://www.smartkarma.com/entities/digiplus-interactive-corp" target="_blank" data-smartkarma-citation="entities:23060:1" rel="noopener">DigiPlus Interactive (PLUS PM)</a>  maintains a share of 45% (vs last year's 47%), revenue will increase by 33% to 100 bn pesos. </li>
<li>With the recent correction due to the current geopolitical situation, the stock trades at 12.2x/9.5x FY24/FY25e, 35% ROCE, with multiple catalysts, e.g, a great Q1FY25 and expansion in Brazil.</li>
</ul>


PAGCOR forecasts a strong FY25 industry GGR of 450 bn pesos (20% YoY), of which the share of bingo/casino games is expected to be 50% (~225 bn pesos).
If DigiPlus Interactive (PLUS PM)  maintains a share of 45% (vs last year's 47%), revenue will increase by 33% to 100 bn pesos. 
With the recent correction due to the current geopolitical situation, the stock trades at 12.2x/9.5x FY24/FY25e, 35% ROCE, with multiple catalysts, e.g, a great Q1FY25 and expansion in Brazil.


DigiPlus Interactive (PLUS PM): Gleanings From the Annual Report FY24 and Management Meeting