Added to YB: 2026-04-29
Pitch date: 2026-04-22
KAREX.KL [bullish]
Karex Berhad
-7.56%
current return
Author Info
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Company Info
Karex Berhad, an investment holding company, manufactures and sells condoms in Malaysia. The company provides personal lubricants; probe covers; and catheters for transurethral drainage of the urinary bladder, as well as gloves.
Market Cap
MYR 605.7M
Pitch Price
MYR 0.59
Price Target
5.53 (+905%)
Dividend
1.74%
EV/EBITDA
25.43
P/E
-383.08
EV/Sales
1.54
Sector
Personal Care Products
Category
growth
Protected Profits: How the World’s Largest Condom Maker Turned a Global Crisis Into a 'Covered' Investment Opportunity
KAREX.KL: World's largest condom maker (5B units/yr for Durex, Trojan, NHS, UN). Demand +30% in 2026, shipping delays doubled to 2mo create shortages. Inelastic demand enables pricing power. Rev CAGR 10.6% to RM693M by 2029, but earnings to swing from RM1.5M loss (2025) to RM292M profit (2029) = 79.7% CAGR vs 16.8% industry avg. At 19.73x P/E = RM5.76B valuation (US$1.46B) vs RM690M today. Risks: supply chain normalization, FX, raw material costs.
Read full article (3 min)