·         Waves Home Appliances Limited held its analyst briefing recently to brief about 3QCY22 financial results and the company’s future outlook. To recall, the company posted PAT of PkR311mn (EPS: PkR1.16) for 3QCY22 vs. PAT of PkR238mn (EPS: PkR0.89) SPLY, up 30% YoY.

·         With regards to future strategy, the company’s most notable development is the relocation of its Allama lqbal Town factory to near Central Park Society, Ferozepur Road, Lahore. With the construction already in progress (expected completion during 1HCY23), the total project cost is estimated PkR2.3bn (40% Land, 60% construction/setup costs), as per recently released credit rating report.

·         Company’s retail business i.e. Waves Marketplace Ltd, is currently operating 141 shops nationwide, with an extensive distribution network along with a dedicated field team.

·         The company also recently diversified into a real estate project at the existing factory premises, under the banner of  ‘Waves Builders and Developers Ltd’.

Courtesy – AKD Research