Zoujaj: The price shows strong upside potential after a 16-year breakout!

 BUY   The National Company for Glass Industries (TADAWUL: 2150)

TADAWUL: 2150 - The National Company for Glass Industries - STOCK RECOMMENDATION

IdeaBUY
Buy Range50 – 52
1st Target70 – 72
1st Target Returns35% – 38%
2nd Target94 – 96
2nd Target Returns82% – 85%
IdeaBuy Range1st Target1st Target Returns2nd Target2nd Target Returns
BUY50 – 5270 – 7235% – 38%94 – 9682% – 85%

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

TADAWUL: 2150 - The National Company for Glass Industries - STOCK OVERVIEW

The National Company for Glass Industries specializes in the production and sale of both reusable and disposable glass bottles, as well as float glass. Their product range includes standard glass packaging, simple bottles, jars, and tailored solutions. Additionally, the company manages sand and gravel mines, complete with crushing facilities. Established in 1990, the National Company for Glass Industries is headquartered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 2150
Sectoral Index Materials
52 Weeks High 53
52 Weeks Low 30.7

TADAWUL: 2150 - The National Company for Glass Industries - RELATIVE STRENGTH

Tadawul 2150-The National Company for Glass Industries-Relative Strength

Relative Performance - Last 1 Year

The National Company for Glass Industries —     TASI —

TADAWUL: 2150 - The National Company for Glass Industries - PEER COMPANIES

  1. OASIS (Tadawul 3007) – 831.38 M SAR
  2. ALRASHID INDUSTRIAL (Tadawul 9580) – 332.00 M SAR
  3. FIPCO (Tadawul 2180) – 552.00 M SAR
  4. TAKWEEN (Tadawul 1201) – 957.34 M SAR

TADAWUL: 2150 - The National Company for Glass Industries - TECHNICAL ANALYSIS (MONTHLY)

Tadawul 2150-The National Company for Glass Industries-Monthly Technical Analysis
TADAWUL: 2150 - The National Company for Glass Industries - Technical Analysis (Monthly)
  • Analyzing the historical chart reveals that after reaching an all-time high of SAR 133.6 in February 2006, the stock underwent a significant decline, dropped to SAR 30.
  • Although it rebounded from this support level to hit SAR 70, but encountered resistance there, caused the price to dip below 30 and eventually settle at SAR 18.5.
  • Following this, the stock entered a lengthy consolidation phase, attempting to gain upward momentum.
  • Unfortunately, it faced rejection near SAR 49, which pushed the price down to SAR 12.8.
  • After another extended period of consolidation, the stock made an effort to break through the SAR 49 resistance in February 2021 but was unsuccessful.
  • The price then consolidated once more. However, in September 2024, the stock finally made a successful breakout, achieved a significant milestone after nearly sixteen years.
  • If the price can maintain itself above SAR 50, we could anticipate a robust rally in the near future.

TADAWUL: 2150 - The National Company for Glass Industries - SALES & PROFIT ANALYSIS

Year-on-year

Year-on-year
  • In FY23, the company experienced remarkable revenue growth of 37%, reaching 153.9 million SAR, a substantial increase from 112.3 million SAR in FY22.
  • Additionally, the gross profit margin surged to an impressive 22.3%, a significant rise from just 2.5% during the same period.
  • However, operating income faced a downturn, with FY23 reporting 56.5 million SAR, down from 116.1 million SAR in FY22.
  • Furthermore, the basic earnings per share (EPS) fell to 1.46 SAR in FY24, compared to 3.34 SAR in the previous financial year.

Quarter-on-quarter

Quarter-on-quarter
  • In the latest quarter ending June 2024, the company achieved a revenue of 34.3 million SAR, reflecting a nearly 9% rise from the 31.6 million SAR recorded in the March quarter. However, this figure represents a decline of approximately 12% compared to the same quarter last year.
  • The operating income has risen to 27.9 million SAR, up from 24.5 million SAR in March. When looking back at the June quarter of the previous year, the operating profit has dramatically increased from a mere 2.3 million SAR.
  • Additionally, the basic earnings per share (EPS) has improved, now standing at 0.81 SAR, compared to 0.70 SAR in March 2024.

TADAWUL: 2150 - The National Company for Glass Industries - VALUATION

P/E RATIO

  • The present P/E ratio is 18.9x, which is lower than the average P/E of 21.5x among its peers, indicating that the stock is fairly valued.

P/B RATIO

  • The current P/B ratio is 2.2x, which is marginally above the peer average of 2.0x, yet it does not suggest that the stock is overvalued.

TADAWUL: 2150 - The National Company for Glass Industries - DEBT ANALYSIS

Debt Analysis
TADAWUL: 2150 - The National Company for Glass Industries - Debt Analysis
  • The company’s total debt to equity ratio is 2.13%, and it now has a debt of just 16.1 million SAR. This debt has decreased from 36.0 million SAR over the past year.

TADAWUL: 2150 - The National Company for Glass Industries - CASH FLOW ANALYSIS

Year-on-year

TADAWUL: 2150 - The National Company for Glass Industries - Cash Flow Analysis(YoY)
  • Cash flow from operations increased significantly in FY23, reached 40.8 million SAR, up from 6.2 million SAR in FY22.

Quarter-on-quarter

TADAWUL: 2150 - The National Company for Glass Industries - Cash Flow Analysis(QoQ)
  • In the latest quarter, cash flow from operations is at 7.5 million SAR, down from 11.8 million SAR in March.

CONCLUSION - TADAWUL: 2150 - The National Company for Glass Industries - Top Shareholder

  • Riyadh Mohammed Abdullah Al-Hamidan
  • Chairman, National Company for Glass Industries
  • Share Held – 18.667%

CONCLUSION - TADAWUL: 2150 - The National Company for Glass Industries STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, The National Company for Glass Industries stock 1st price target will be SAR 70 – SAR 72 and 2nd price target will be SAR 94 – SAR 96.

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

Enjoy this recommendation?
Share with your friends

Your return could be more

PROFITABLE!

access our premium recommendations

for Saudi Arabia Stock Market Tadawul

Leverage our knowledge to trade with confidence. Expert Advice for short to medium term trading with specific target and strict stoploss.

Pricing

Pricing (in SAR)

Email Newsletter

Get Free Saudi Stock Trading Advice

We respect your privacy.

You cannot copy content of this page

× Chat With Us