$PADINI / 7052 (PADINI HOLDINGS BERHAD)
Research by TA
Buy - TP RM4.30

"Cautiously Optimistic Outlook for FY25"

We came away from PADINI’s analyst briefing with the following key takeaways:
i) FY24 Results Review
ii) Expansion Plans and Capex Allocation
iii) Cautiously Optimistic Outlook for FY25
Maintain Buy with a lower TP of RM4.30/share, based on CY25 PER of 15x.

Analyst:
Liew Yi Jiet
yjliew@ta.com.my