SYS is expected to post 2QCY22 consolidated NPAT of PKR1.55bn (EPS: PKR5.59), up 70% YoY and 30% QoQ
Other income is expected to clock in at PKR421mn in 2QCY22 vs. PKR334mn in 1QCY22 amid higher exchange gains
SYS can potentially book one-off FV gain on its associate Retailistan, as its fully owned subsidiary Jugnu raised funds
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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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