Investor on the Street

HARTA (5168) : Hapless or Hopeless or Holding Strong?

Publish date: Sun, 27 Aug 2023, 11:33 AM

HARTA (5168) is an Main Market company in the gloves industry. HARTA is involved in manufacturing & selling gloves, specialising in nitrile gloves.

Is HARTA selling at cheap price now?

1. Share price you pay is higher than Price to Book.

HARTA's share price is RM 1.96, whilst its net assets is about RM 1.34.

2. Best performance in FY2022.

HARTA's revenue hit all-time high in FY2022. Net profit hit all-time high in the same year. Share price all-time high was in July 2020 around RM20.  

3. Financial Statements.

HARTA usually has positive net cash from operations each quarter, until the post-Covid recovery era. HARTA is a net cash company with RM1.6bil. cash, with  little debts. HARTA stopped giving dividends in 2023, in a prudent move to conserve cash amidst negative cashflow from operations. 

4. Insider dealings.

No notable insider dealings in the recent months.  

5. PE ratio is negative.

HARTA's trailing PE ratio is negative due to past quarters making losses, as the glove industry is facing a very tough time. 


I have HARTA shares. It is difficult to predict the earnings of HARTA in a vastly different and challenging era now. Suppose HARTA produces an average net profit to shareholders of 165mil./quarter in future, given PE ratio of 15, HARTA should be worth RM 2.89.

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