DGKC has posted an unconsolidated profit of PKR389mn (EPS: PKR0.89) in 1QFY23, down 57% YoY.
Revenue increased by 22% YoY/down 8% QoQ to PKR13.6bn. QoQ decline in sales is due to 22% QoQ reduction in local sales.
GMs have clocked in at 15.3% (down 3.6/2.5ppt YoY/QoQ), lower than our expected GM of 17%.
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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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