AVN has announced a consolidated NPAT of PKR532mn (EPS: PKR1.64 on new number of shares) for 2QCY22, up 120% YoY
Despite significant PKR devaluation; net sales have reduced by 11% YoY and 26% QoQ to PKR980mn
Other income has clocked in at PKR804mn, owing to elevated exchange gains, without which it would have incurred a loss
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The analyst certifies that the views expressed in the report reflect their personal views about the subject securities. He or she also certifies that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendations made in this report. He or she further certifies that they do not have any beneficial holding of the specific securities that they have recommendations on in this report.
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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