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Historically the company delivered > 50% ROE. Last year was a bad one with 12%. But at 12% it is much better than most Bursa companies. The question is whether you believe that the business fundamentals has changed so that the historical performance is no longer valid or whether last year was an anomaly.
Dulu dulu Gu zha ang mo zha boh xiao lian sui sui, tua liap nie ka cheng kiao kiao, jit mai lao liao ang mo lao zha boh, boh lang ai di liao.... Bobian kua boh hoseh dio ai swift counter
Dutch Lady got strong brand heritage and solid cash flow, but the high valuation and rising raw milk costs make it a tricky long-term play. You really need to watch if their margins can withstand inflationary pressure before banking on their consistent dividend payout.
DLADY) second-quarter net profit surged 63.2% year-on-year, driven by stronger revenue, favourable exchange rate effects and the absence of one-off transition costs incurred a year earlier.
Net profit for the three months ended June 30, 2026 (2QFY2026) came in at RM38.2 million — its highest quarterly profit in five years
we foresee a valuation rerating ahead when DLM starts to deliver steady earnings growth – supported by the progressive contributions from the Bandar Enstek plant. DLM should also be an appealing proposition to yield-seekers given our anticipation of higher payout ahead. Ascribing a P/E multiple range of 18-20x, which is in line with Fraser & Neave’s (FNH MK, NR) forward valuation but at a discount to Farm Fresh’s (FFB MK, BUY, TP: MYR3.06), we value DLM at MYR46.40-51.60.
Ascribing a P/E multiple range of 18-20x, which is in line with Fraser & Neave’s (FNH MK, NR) forward valuation but at a discount to Farm Fresh’s (FFB MK, BUY, TP: MYR3.06), RHB research value DLM at MYR46.40-51.60.
Dutch Lady’s short-term technicals look weak, with bearish momentum and resistance near RM28, support around RM27. Fundamentals remain solid with strong cash reserves, steady dividends, and good capital returns. Q1 profit dipped due to transition costs, but valuation (~18× P/E) suggests about 23% upside to a RM34 target. Watch for negative free cash flow, which could affect growth if it continues.
