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 - Ace Hardware, Ginebra San Miguel, and Singapore Banks

Shortlist of High Conviction Philippines Equity Ideas - December 2024

Previewing FY24 Earnings For Two Market Leaders in the Philippines: GSMI PM/KEEPR PM

Shortlist of High Conviction Philippines Equity Ideas - October 2024

GSMI PM/PLUS PM: Solid Growth in Q2 2024, >30% ROCE, Net Cash, >5% Div Yield

Shortlist of High Conviction Philippines Equity Ideas - September 2024

Keepers Holdings (KEEPR PM): Solid Q2 2024, >20% Growth, >20% ROCE, <8x PE, Net Cash, 6% Div Yield

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

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<li>
<a href="https://www.smartkarma.com/entities/ginebra-san-miguel-inc" target="_blank" data-smartkarma-citation="entities:23029:1" rel="noopener">Ginebra San Miguel (GSMI PM)</a> reported a solid Q3 FY24, with revenues/profits up 15%/25% YoY, led by 5% volume growth (10% YTD growth).</li>
<li>Net cash and investments are now &gt;15 bn pesos (21% of market capitalization). For Q4 2024, the company paid a dividend of 4 pesos/share (6.2% dividend yield). </li>
<li>This is one of the cheapest liquor companies we know, trading at 10x FY24 PE/6.3 EV-EBITDA. It has a &gt;33% ROCE and a great growth/dividend payment profile.</li>
</ul>



Ginebra San Miguel (GSMI PM) reported a solid Q3 FY24, with revenues/profits up 15%/25% YoY, led by 5% volume growth (10% YTD growth).
Net cash and investments are now &gt;15 bn pesos (21% of market capitalization). For Q4 2024, the company paid a dividend of 4 pesos/share (6.2% dividend yield). 
This is one of the cheapest liquor companies we know, trading at 10x FY24 PE/6.3 EV-EBITDA. It has a &gt;33% ROCE and a great growth/dividend payment profile.


Ginebra San Miguel (GSMI PM) Q3 2024: Solid Set of Numbers And Increasing Dividends