Added to YB: 2026-09-23
Pitch date: 2026-09-10
163560.KS [neutral]
DRB Industrial Co., Ltd.
-2.34%
current return
Author Info
Sung Capital is an alternative asset management firm run by Oliver Sung. We invest capital for families, registered investment advisors, and accredited investors through a private investment fund. We pick underpriced stocks, usually in pockets of the market where large pools of capital (funds and institutions) can’t or won’t invest, but we flip every stone. We pick stocks only, use no leverage, and require a significant margin of safety in every investment. Sign up for the newsletter.
Company Info
DRB Industrial Co., Ltd. manufactures and distributes rubber belts in Korea. The company offers vehicle sealings, such as glass run/channels, door seals, body seals, tailgate seals, and hood seals; construction materials, including low vibration track systems, ballast mats, platform gap fillers, and fastening systems for railway products; rubber fender, automatic cable cover belt, and accessories for marine products; and submerged gaskets, membranes for tanks, shock mounts, diaphragms, water-proof sheets, sluice seals, gas holders, crash cushions, and door seals for civil engineering and industrial materials, as well as rubber dam, eco-tank, multi-function HDPE catch basin, and intercepted flow control device for eco products.
Market Cap
KRW 76.2B
Pitch Price
KRW 5.5K
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.03
P/E
2.96
EV/Sales
0.24
Sector
Automobile Components
Category
value
All Korean net nets #3: another 8 stocks - DRB Industrial Co., Ltd.
163560.KS (pass): Pass on DRB Industrial despite its 0.69x NCAV, 0.31x book and sub-3x earnings valuation. Three-quarters of current assets are invoices owed by parent-controlled companies; sister companies account for 72% of COGS and 52% of sales. Related-party receivables are ageing, while their accumulation drove negative CFO in three recent years, making reported earnings a mirage.
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