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

Ginebra San Miguel (GSMI PM) Q3 2024: Solid Set of Numbers And Increasing Dividends

Shortlist of High Conviction Philippines Equity Ideas - December 2024

Keepers Holdings (KEEPR PM) Q3 2024 Concall: Exciting Acquisition and Q4 Season Up Ahead

DigiPlus (PLUS PM): Brazil License And CasinoPlus Acquisition Game Changing Catalysts For The Future

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ginebra-san-miguel-inc" target="_blank" data-smartkarma-citation="entities:23029:1" rel="noopener">Ginebra San Miguel (GSMI PM)</a> and <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a> are leading names in the alcohol space, with a 97% marketshare in gin/70% marketshare in imported liquor distribution, respectively. </li>
<li>Despite both stocks being up &gt;70% in FY24 (including dividends), they trade at modest valuations of ~10x FY24 PE, net cash, historical ROCEs &gt;20%, and 5% dividend yields. </li>
<li>Both companies are primed for revenue/profit CAGR teen growth, and we see great potential for a multiple rerate this year.</li>
</ul>



Ginebra San Miguel (GSMI PM) and The Keepers Holdings (KEEPR PM) are leading names in the alcohol space, with a 97% marketshare in gin/70% marketshare in imported liquor distribution, respectively. 
Despite both stocks being up &gt;70% in FY24 (including dividends), they trade at modest valuations of ~10x FY24 PE, net cash, historical ROCEs &gt;20%, and 5% dividend yields. 
Both companies are primed for revenue/profit CAGR teen growth, and we see great potential for a multiple rerate this year.


Previewing FY24 Earnings For Two Market Leaders in the Philippines: GSMI PM/KEEPR PM