2120 SAUDI ADVANCED INDUSTRIES CO. to 70SR

Supported by financial growth, the current target is 70SR

SAUDI ADVANCED INDUSTRIES CO. (2120) is growing its business and has invested in several startup companies that yielded great profits.

in 2023, made 148MM SAR net profits
in 2022, made 100MM SAR net profits
a growth by 48% in net profits.

In 2023, highest stock price was 50.1 SR
current price is 42.2SR
I can expect the price to recover back to 50.1SR
then jump 48% (50.1 x 1.48 = 74.5 SR)

Comment:

Increase position.
closing price 45.8 SR

SAIC Q1 2024 profit surges to SAR 108.7M

Operating Income 113.45M compared to 22.57M (i.e 402.7% growoth).
Net Income 108.72M compared to 22.07M (i.e 392.6% growth).

being conservative, considering the P/E stays under 19;
estimating the quarterly gross profit in the upcoming quarters, by end of 2024.

assumed gross profit: 198M --> fair price: 70
assumed gross profit: 250M --> fair price: 80
assumed gross profit: 300M --> fair price: 90
assumed gross profit: 400M --> fair price: 120


Happy Trading :)

Trade active:

SAIC, subsidiary wrap up 4.03M shares sale in Obeikan Glass at SAR 144.1M
(argaam.com/en/article/articledetail/id/1720434)

This is a good sign, the company already made 64M net profit that would show in next quarter. Also, the educational company hit a high price today, which is indicative of profits surge.

Minimum fair price as of today: 60SR with P/E=20.
market average P/E =28.

buy more at this price !