Global Materials Undervalued over 20% based on DCF

UST

Market Cap: ₩54.9b

Manufactures and sells stainless steel pipes and tubes in South Korea.

Master-Pack Group Berhad

Market Cap: RM 165.5m

An investment holding company, manufactures, distributes, and sells corrugated cartons and wooden packaging materials in Malaysia, Vietnam, and internationally.

TacBright Optronics

Market Cap: NT$1.2b

Engages in the research, development, manufacturing, and sales of triacetate cellulose (TAC) films.

CULTI Milano

Market Cap: €33.3m

Produces and sells room perfumes in Italy.

Nexa Resources AtacochaA

Market Cap: S/130.7m

Operates as a mining company worldwide.

BBC

Market Cap: ₩50.4b

Manufactures and sells filaments for oral care industry and brushes.

HOKUETSU METAL

Market Cap: JP¥4.8b

Manufactures, processes, and sells iron and steel products in Japan.

cottaLTD

Market Cap: JP¥4.7b

Engages in manufacture and sale of confectionary food materials and food packaging materials in Japan and internationally.

Green Oleo

Market Cap: €26.7m

Produces and sells fine oleochemicals from bridgeable and renewable sources.

Temapol Polimer Plastik ve Insaat Sanayi Ticaret Anonim Sirketi

Market Cap: ₺1.2b

Manufactures and sells thermoplastic sheets in Turkey and internationally.

Crown SIEM

Market Cap: XOF 17.6b

Crown SIEM SA engages in packaging activities and produces metal cans, that includes cans for pineapple, tuna, fruit, juice, coffee, aerosols and insecticides.

India Gelatine & Chemicals

Market Cap: ₹2.5b

Engages in the manufacture and sale of chemical products in India, the Far East, Europe, and internationally.

Hanchang Ind.Co.Ltd

Market Cap: ₩37.7b

Operates as a functional material company in South Korea.

Kritika Wires

Market Cap: ₹2.3b

Engages in the manufacture and supply of industrial steel and galvanized wires in India.

ONEX

Market Cap: JP¥3.1b

Provides metal heat treatment, remediation, and processing services in Japan and internationally.

Nomura

Market Cap: JP¥3.2b

Develops, manufactures, and sells packaging materials and packaging machines in Japan.

Tirupati Starch and Chemicals

Market Cap: ₹1.8b

Manufactures and sells starch, dextrose anhydrous, liquid glucose, and other products in India.

Meyar

Market Cap: ر.س71.7m

Manufactures and sells cement products.

Union Plastic

Market Cap: ฿575.0m

Manufactures and sells thermoplastics in Thailand.

Betonjaya Manunggal

Market Cap: Rp276.5b

Engages in the manufacturing and sale of round bars in Indonesia.

Thai Rubber Latex Group

Market Cap: ฿515.2m

Produces and distributes concentrated latex and other latex products in Thailand, the People's Republic of China, Hong Kong, Pakistan, Malaysia, the Republic of Korea, and internationally.

Sharda Ispat

Market Cap: ₹1.4b

Engages in the manufacture and sale of alloy steel flat/rolled products for use in automobile component industries in India.

Yong Concrete

Market Cap: ฿496.4m

Engages in the manufacture and distribution of concrete products in Thailand.

Hankook Steel

Market Cap: ₩20.9b

Manufactures and sells steel products in South Korea.

Jyoti Global Plast

Market Cap: ₹1.0b

Manufactures plastic packaging products.

Box-Pak (Malaysia) Bhd

Market Cap: RM 49.2m

An investment holding company, engages in the manufacture and distribution of paper boxes, cartons, general papers, and board printing products in Malaysia, Vietnam, and Myanmar.

Archit Organosys

Market Cap: ₹900.2m

Manufactures and trades in chemical products in India and internationally.

BTM Resources Berhad

Market Cap: RM 37.7m

An investment holding company, sells timber products and wood pellets in Malaysia, Australia, the United States, Korea, and Singapore.

Chrome Silicon

Market Cap: ₹759.9m

Engages in the manufacture and sale of ferro alloys in India.

Swastika Castal

Market Cap: ₹758.3m

Engages in manufacturing and sale of aluminum casting products.

Fab-Form Industries

Market Cap: CA$11.5m

Engages in the developing, manufacturing, and distributing technology to form concrete footings, columns, foundations, and walls for building structures in Canada.

Sanko Diecasting (Thailand)

Market Cap: ฿269.2m

Manufactures and distributes aluminum parts and molds in Thailand.

AMG Packaging & Paper

Market Cap: JA$1.3b

Manufactures, distributes, and retails cartons of various sizes in Jamaica.

Shreyas Intermediates

Market Cap: ₹554.1m

Engages in the manufacture and sale of pigments, pigment intermediates, and bi-products in India, the United States, Germany, and internationally.

Sanwil Holding Spólka Akcyjna

Market Cap: zł22.2m

Engages in the production and sale of coated products.

Metal Coatings (India)

Market Cap: ₹511.4m

Manufactures and sells cold-rolled steel strips and hot-rolled pickled and oiled steel strips and coils in India.