Ramssol Group Berhad - Navigating the Digital Age
Thu, 21-Mar-2024 07:44 am
by Kenneth Leong • Apex Research

Counter

RAMSSOL (0236)

Target Price (RM)

0.56

Recommendation

Buy

Summary

  • Embarking into a transformative plan to ride towards the age of digitalisation with strategic focus onto key business segments namely (i) PeopleTech, (ii) AutoTech, (iii) EduTech, and (iii) MarTech.
  • Core net profit expected to record 55.6% and 32.2% yoy growth to RM10.2m and RM13.5m for FY24F and FY25F respectively, driven by execution of expansion strategies and business diversification efforts.
  • Ramssol is valued by pegging its FY25F fully diluted core EPS of 3.1 sen to PE of 18.0x, leading to a FV of RM0.56 (+24.4% potential upside from current share price).
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