Padini

[winston]

not vested

Padini (Share Price: RM1.97; TP: RM2.55)

The group plans to add 17 stores each in FY15 and FY16.

We expect the store roll-outs to increase its retail floor space by more than 180k sq ft.

Based on this estimate, we expect an earnings CAGR of 17% over FY14-16.

Hence, we believe its valuation of 9x FY15 EPS (ex-cash) is attractive.

Moreover, the stock also provides a 7% net dividend yield.

Source: DBS

[winston]

not vested

Padini Holdings (Share price: RM1.97, TP: RM2.55).

Padini’s business fundamentals remain strong and its bundled sales strategy has successfully stabilised its profitability.

We like Padini for its diversified target market, namely its premium branding (Padini, Seed) for middle-to-high income consumers and value-for-money products (Brands Outlet) for low-to-middle income consumers.

We see two re-rating catalyst for Padini :
(i) the successful Vincci makeover;
(ii) reinstatement of Securities Commission (SC) Shariah-compliant status.

The stock trades at a compelling PE of 9x (ex-cash) and 7% yield for FY15F on the back of 17% 3-year CAGR from FY14-FY16F.

Source: DBS

[winston]

not vested

Padini achieves record-high profit:

Padini’s net profit more than doubled to RM37.36 million in the fourth quarter from RM18.36 million a year earlier, on higher sales growth.

Quarterly revenue jumped 57% to RM348.88 million.

Padini declared the first interim dividend of 2.5 sen per share for the financial year ending June 30, 2017.

Source: The Edge

[winston]

not vested

Padini says certain bank accounts frozen by MACC, but it still has access to banking facilities, operations unaffected

By Syafiqah Salim

In its Bursa Malaysia filing on Friday, Padini noted that the affected accounts are not actively used for its day-to-day operations, and that the group continues to have access to other banking facilities to support its business activities.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/801247

[winston]

not vested

Below expectations

Maintain BUY with a lower TP of MYR2.40

PAD’s 2QFY26 results undershot expectations on higher-than-expected operating expenses.

CNY and Hari Raya Aidilfitri spending should drive sales momentum upwards in 3QFY26 before normalising in 4QFY26.

We believe that favourable FX movements may also help mitigate further cost pressures on the group.

Nevertheless, our FY26E-FY28E earnings estimates are cut by 11%-15%.

Maintain BUY with a lower TP of MYR2.40, based on an unchanged 15x CY26 PER, mean.

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/516604.pdf

[winston]

not vested

2Q Results:-

Revenue: -8%; RM 484m
EPS:- -35%; RM 41m; 4.19
Net Asset: RM 1.23

https://www.bursamalaysia.com/market_in ... id=3638982

[winston]

not vested

Padini Holdings Berhad is a major Malaysian fashion retailer with a market capitalization of over RM 2 billion and roughly 160 stores as of mid-2025.

It operates a large footprint across Southeast Asia and the Middle East, offering brands like Padini, Vincci, and Brands Outlet, with annual revenue of approximately RM 1.9 billion.

Key size metrics based on 2025/2026 data:

Store Count: Over 160 company-owned stores, including franchises in Cambodia, Thailand, Brunei, UAE, and others.

Revenue: Recorded at roughly RM 1.9 billion.

Market Cap: Above RM 2 billion.

Workforce: Around 2,800 full-time employees.


Company Structure & Footprint

Padini dominates by focusing on high-volume, affordable fashion (fast retailing). Their store finder often features large "concept stores" that house all their brands under one roof.

The company has expanded its presence from a small garment business in 1971 to a, significant regional fashion entity with a strong online presence and stores in top-tier malls.