[%BtTZ%]
Research by RHB
Neutral (Maintained) – TP RM1.68

“Powering Up For FY25F"

Maintain NEUTRAL, with new DCF-derived MYR1.68 TP from MYR1.60, 5% downside. Power Root’s FY24 (Mar) results met expectations as sales eased from the high FY23 base. Current valuation appears to be fair at above 5-year mean – pricing in the gradual recovery of export sales and margin upside of domestic business. That said, we opt not to stretch our valuation further given the challenges of volatile commodity markets and potential demand pushback in response to price increases.

Analyst:
Soong Wei Siang 
[%ruRl%]

$KLSE-PWROOT
Research by RHB
Neutral (Maintained) – TP RM1.68

“Powering Up For FY25F"

Maintain NEUTRAL, with new DCF-derived MYR1.68 TP from MYR1.60, 5% downside. Power Root’s FY24 (Mar) results met expectations as sales eased from the high FY23 base. Current valuation appears to be fair at above 5-year mean – pricing in the gradual recovery of export sales and margin upside of domestic business. That said, we opt not to stretch our valuation further given the challenges of volatile commodity markets and potential demand pushback in response to price increases.

Analyst:
Soong Wei Siang 
soong.wei.siang@rhbgroup.com