ASTL has posted NPAT of PKR204mn (EPS: PKR0.69) in 1QFY23, down 71% YoY, while halving QoQ
ASTL has posted gross margins of 16.2%, up a sharp c.7ppt QoQ/2ppt YoY, higher than our expectation of 12.2%.
Despite earnings beat, this is a weak result from ASTL, as volumetric offtake has seen a noticeable decline.
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Valuation Methodology: We use multiple valuation methodologies in arriving at a Target Price including, but not limited to, Discounted Cash Flow (DCF), Dividend Discount Model (DDM) and relative multiples based valuations.
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