Our opinion on the current state of INSIMBI(ISB)
Insimbi (ISB) is a group that manufactures and supplies specialist products to the industrial sector. They source, buy, package, and process ferrous and non-ferrous alloys, refractory and foundry materials, plastic blow-moulding, and injection moulding. They recycle metal alloys and provide technical support to users of their products.
In its results for the year to 29th February 2024, the company reported revenue down 2% and headline earnings per share (HEPS) down 54%. The company said, "Prices for most of our commodities declined during the year. The impact on Insimbi's export and local revenue was partially mitigated by the US$ base pricing of these commodities and an exchange rate that worked in our favour."
In a trading statement for the six months to 31st August 2024, the company estimated that it would make a headline loss of between 1.1c and 1.3c compared with a profit of 15.46c in the previous period.
Technically, the share was in an upward trend until June 2018 but then fell to a low of 50c on 18th December 2020. After that, it rose to a high of 139c in June 2023 before beginning a new downward trend.
In our view, this company will benefit directly from any recovery of the South African economy, but it remains a risky commodity share. Its value traded is an average of about R34,000 per day, making it dangerous for private investors. So it is a thinly traded penny stock producing commodities, which is about as risky as you can get.
In its results for the year to 29th February 2024, the company reported revenue down 2% and headline earnings per share (HEPS) down 54%. The company said, "Prices for most of our commodities declined during the year. The impact on Insimbi's export and local revenue was partially mitigated by the US$ base pricing of these commodities and an exchange rate that worked in our favour."
In a trading statement for the six months to 31st August 2024, the company estimated that it would make a headline loss of between 1.1c and 1.3c compared with a profit of 15.46c in the previous period.
Technically, the share was in an upward trend until June 2018 but then fell to a low of 50c on 18th December 2020. After that, it rose to a high of 139c in June 2023 before beginning a new downward trend.
In our view, this company will benefit directly from any recovery of the South African economy, but it remains a risky commodity share. Its value traded is an average of about R34,000 per day, making it dangerous for private investors. So it is a thinly traded penny stock producing commodities, which is about as risky as you can get.
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