$NATF National Foods Limited (NATF): Seasoned for Sustained Growth – By Insight Research
$NATF
National Foods Limited
Rs. 384.04
-1.15%
- National Foods Limited (NATF) remains a dominant household brand in Pakistan, supported by its diverse product portfolio and an extensive distribution network. The company has demonstrated commendable operational performance in recent years, with unconsolidated profit surging by ~2.5x YoY to PKR3.2bn in FY25. This growth was primarily driven by strong momentum in both domestic and international markets, along with efficiency gains from the newly inaugurated Faisalabad facility.
- Backed by National Foods strong topline momentum, with unconsolidated revenues posting a 5-year CAGR of 18% while consolidated revenues expanded at 29% CAGR, along with management’s emphasis on international expansion and inorganic growth opportunities, we recommend a BUY stance with a Dec’26 SOTP based target price of PKR548/sh, implying a capital upside of 34%.