📈 MUREB: BUY Signal (8/10) – Corporate Briefing Session 2025 Presentation

📌 Key Takeaways

• 🍺 Murree Brewery was established in 1860 and operates in Pakistan.
• 🏭 The company has three main divisions: Liquor, Tops (food products), and Glass.
• 💧 Murree Sparkletts has installed a new PET bottling line with a capacity of 24,000 bottles per hour in August 2025.
• 🏭 A new PET CSD filling line from BestCrown (China) has been installed, increasing production capacity by 50%.
• 🏷️ New sticker labeling machines have been installed for PMFL bottles.
• 🥃 A new maturation cellar has been established with a capacity of approximately 166,500 BG.
• 🧊 A new SRM Ammonia compressor was installed for refrigeration.
• 🥤 A ring pull capping machine was installed for non-alcoholic malt drinks.
• 🚧 The 130 TPD furnace project for Murree Glass is expected to be completed by June 2026.
• 💰 The company contributed Rs. 11,992 million to the Government exchequer, up from Rs. 9,705 million in the previous year.
• 📈 Gross profit increased by 31% from Rs. 5,618 million to Rs. 7,380 million.
• 💸 Net profit increased by 24% from Rs. 2,621 million to Rs. 3,262 million.
• ⭐ EPS increased by 24% from Rs. 94.76 to Rs. 117.92.
• 🌍 The company’s outlook appears robust, supported by stability in domestic prices and the exchange rate.

🎯 Investment Thesis

Based on the solid financial performance and ongoing strategic initiatives, a BUY recommendation is justified for Murree Brewery. The company’s expansion projects, such as the new PET bottling line and maturation cellar, position it for continued growth. The improvement in EPS and overall profitability makes the stock attractive. However, the investment thesis needs to account for the risks linked to political instability and regulatory changes in Pakistan. Given the historical growth and current profitability, a price target of Rs. 140, representing a 19% upside from the current EPS and accounting for moderate risk, over a 12-month time horizon is reasonable.