Nanofilm Technologies - Confident Of Growing In FY22
- In its 1Q22 business update, NanoFilm Technologies (SGX:MZH) reported that revenue increased 27% y-o-y supported by growth in all its business units.
- While acknowledging the challenging operating environment, NanoFilm Technologies guided that it remained confident of growth in FY22F.
- We reiterate our ADD call as NanoFilm Technologies enters the typically stronger second-half. Our FY21-24F EPS CAGR is 22.54%. At a P/E multiple of 22.54x, the implied P/E-to-growth (PEG) ratio is 1.00x.
- Although NanoFilm Technologies is optimistic on its FY22F outlook, we apply a 10.0% discount to this PEG ratio to factor in earnings risks from disruptions related to the COVID-19 pandemic and possible negative impact on consumer demand arising from inflation.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-04-20 2022-04-20
Read also CGS-CIMB's most recent report:
2023-01-16 Nanofilm Technologies - Holding For Possible Re-Rating In FY24.
Previous report by CGS-CIMB:
2022-11-16 Nanofilm Technologies - FY22 Possibly First Net Profit Decline Since IPO.