Broker: Tickrs Financial Singapore Pte Ltd
Date of Report: 31 March 2026
Excerpt from Tickrs Financial Singapore report.
Report Summary
- Stock: Hafary Holdings Ltd (SGX: 5VS)
- Action: BUY
- Target Price: S\$0.580 (12-month target)
- Current Price: S\$0.460
- Key Highlights:
- Hafary Holdings delivered solid FY2025 results: Revenue up 9.1% to S\$287.0 million, PATMI up 8.4% to S\$29.9 million.
- Vertical integration and manufacturing ramp are driving margin recovery and reducing net gearing (now 1.61x).
- Manufacturing segment revenue grew 35.6% to S\$63.1 million, with losses narrowing and breakeven expected in FY2026.
- Dividend yield is strong at 6.0%, with a consistent payout of 2.75 cents per share.
- Key catalysts: Manufacturing breakeven, US export momentum, balance sheet deleveraging.
- Actionable insight: At current multiples (P/E 6.6x), Hafary is not priced for its improving fundamentals. Upside to target is ~26%, with total expected return including dividend at ~32%.
above is an excerpt from a report by Tickrs Financial Singapore Pte Ltd. Clients of Tickrs Financial Singapore Pte Ltd can be the first to access the full report from the Tickrs Financial Singapore Pte Ltd website : https://www.tickrs.com.sg/
