MR D.I.Y
KUALA LUMPUR – Analysts at AmBank have maintained their BUY recommendation on MR D.I.Y. Group (M) Berhad (Mr DIY), a leading Malaysia-based home improvement retailer, though they adjusted the fair value (FV) to RM1.90 from RM2.10. The revised target price reflects a 25x price-to-earnings (PE) ratio for FY26F, aligning with the company’s three-year historical average. Mr DIY, known for its extensive range of products including hardware, household items, and stationery, continues to hold a neutral 3-star ESG rating.
The retailer reported a recovery in consumer sentiment in 1QFY25, bolstered by cost efficiencies. With 70% of its suppliers from China, Mr DIY benefits from cheaper goods, lower freight costs, and internal measures to optimize labor expenses. Additionally, its automated warehouse, despite a 50% utilization rate, has reduced the out-of-stock rate to 5% from 9-10% in 4QFY24, signaling improved operational efficiency and margin growth potential.
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