Added to YB: 2025-04-17
Pitch date: 2025-02-28
P34.SI [bullish]
Delfi Limited
+15.38%
current return
Author Info
No bio for this author
Company Info
Delfi Limited, an investment holding company, manufactures, markets, distributes, and sells chocolate, chocolate confectionery, and consumer products in Indonesia, Philippines, Malaysia, Singapore, and internationally.
Market Cap
SGD 313.5M
Pitch Price
SGD 0.70
Price Target
1.10 (+34%)
Dividend
6.32%
EV/EBITDA
4.95
P/E
9.24
EV/Sales
0.59
Sector
Food Products
Category
value
Delfi Limited - $P34.SI
P34.SI: Indonesian chocolate leader at 0.65x sales, 5.4x EBITDA despite historic cocoa price spikes. Trades at $0.74 SGD (down 17% since March), yielding 5.7%. 70% of revenue/90% profit from Indonesia with 30%+ market share. Founder-controlled, no net debt, 50% dividend payout policy. Near-term headwinds but positioned for recovery as cocoa normalizes.
Read full article (16 min)