Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Edvantage - Solid Execution Not Priced In

Edvantage Group: Executing in a Tough Environment

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/edvantage-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:28114:1" rel="noopener">Edvantage Group (382 HK)</a>, one of the largest high-quality private education groups in the Bay Area, released promising H1 2021 numbers for its result on the 20th of April. Adjusted net profit grew 33% YoY to 199 mn RMB, led by a 33% revenue growth.   We believe that the company will accomplish 439 mn RMB of net profit for FY21 as the contribution of its acquisition fully kicks in for H2 2021.</p>
<p>Based on our estimates, the stock trades at an 18x PE FY21 and 13.5x PE FY22. We believe there could be more upside to the name based on where comps trade in the space currently.</p>

Edvantage Group (382 HK), one of the largest high-quality private education groups in the Bay Area, released promising H1 2021 numbers for its result on the 20th of April. Adjusted net profit grew 33% YoY to 199 mn RMB, led by a 33% revenue growth.   We believe that the company will accomplish 439 mn RMB of net profit for FY21 as the contribution of its acquisition fully kicks in for H2 2021.
Based on our estimates, the stock trades at an 18x PE FY21 and 13.5x PE FY22. We believe there could be more upside to the name based on where comps trade in the space currently.

Edvantage Group: Consistently Good Execution