UNITY_The Premier Food Company, (AKD Detailed Report, Nov 22, 2020)
Unity Foods Limited
The Premier Food Company!
Unity Foods Ltd (UNITY) held its analyst briefing today - amid significant investor participation - to review its FY20/1QFY21 financial performance and ongoing expansion plans. The company posted consolidated earnings of PkR621mn (fully diluted EPS: PkR0.62 based on current 994mn shares; reported EPS: PkR0.98) in 1QFY21, up 6.7xYoY driven primarily through a 2.8xYoY jump in topline. 1Q consol. earnings also accounted for PkR44mn from UNITY’s subsidiary, Sunridge Foods (Pvt.) Ltd., wherein the former had acquired a 69% stake in 4QFY20. Leveraging its management expertise, the company’s rise in the FMCG industry has been remarkable, with UNITY posting topline CAGR of 231% since FY18 while just 1QFY21 earning at PkR621mn has exceeded all previous full year results. The company’s current product profile consists of i) Edible Oil (3 brands namely Dastak, Zauqeen and Ehtimam), ii) Flour (Sunridge), iii) Animal Feed (Pure) and iv) Specialty Fats. In terms of future strategy, the company intends to i) have an expanded flour mill capacity of 175tpd (current: 130tpd) by 2QFY21, ultimately increasing it to 440tpd by 4QFY21, ii) enter into production and soap related products by 3QFY21, iii) have an oil terminal capacity of 45ktpa by 2QFY22 and iv) enter into margarine and shortening manufacturing by 3QFY22.
AKD Research
Unity Foods Limited is a Pakistan-based company. The Company is principally engaged in oil-processing business. The Company has its solvent extraction plant located in Kotri, Sindh and edible oil refinery located at a site area, Karachi.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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