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

Indo Tambangraya Megah (ITMG IJ): 10% Buy Back A Major Catalyst, Cash 67% of Mkt Cap

Indo Tambangraya Megah (ITMG IJ): 50% of Mkt Cap in Cash, 12% Yield

ITMG IJ Q4 FY24: Coal Price Decline Squeezes Margins, FY25 Costs To Increase

ITMG IJ: Steady Coal Prices, Mine Life Upgrade, 43% of the Mkt Cap in Cash and 11% Dividend 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

Indo Tambangraya Megah / Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/indo-tambangraya-megah-tbk-p" target="_blank" data-smartkarma-citation="entities:15891:1" rel="noopener">Indo Tambangraya Megah (ITMG IJ)</a> reported a solid Q1 FY25 despite the drop in coal prices. Revenues/profits were -1%/+8%YoY because of higher volumes and lower costs. </li>
<li>After accounting for the 150 million USD dividend liability (which was already paid out in May), net cash is&gt;850 million USD (around 54% of market capitalization). </li>
<li>With earnings likely to be between 250-300 million USD in FY25, the stock trades at 5.3- 6.25x FY25 PE and 12.5% dividend yield. </li>
</ul>



Indo Tambangraya Megah (ITMG IJ) reported a solid Q1 FY25 despite the drop in coal prices. Revenues/profits were -1%/+8%YoY because of higher volumes and lower costs. 
After accounting for the 150 million USD dividend liability (which was already paid out in May), net cash is&gt;850 million USD (around 54% of market capitalization). 
With earnings likely to be between 250-300 million USD in FY25, the stock trades at 5.3- 6.25x FY25 PE and 12.5% dividend yield. 


Indo Tambangraya Megah (ITMG IJ) Q1 FY25: Solid Despite The Coal Price Drop