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Wow such an impressive 1Q 2026 which was released last week by BUSCAP.
It sees an annualized revenue and net profit of RM 77.13 Mil and RM 10.132 respectively.
EPS is 2.64sen
Net profit margin increased to 13.1% from 11.1%.
Assuming
FYE 2027 growth of 10%, the projected EPS is 2.9 sen.
Ascribing a low tier PE of 10x, similar to SMIS and APM, the expected fair value is 29 sen.
As it is the first bus body company to be listed, there is no direct peer comparison. The nearest automative vehicle companies are APM, SMIS and Feytech which trades at PE of 10-14x. While related to bus industry is HI Mobility and Perak transit (PE of 3 - 21x).
