Global Materials Undervalued over 20% based on DCF

Allied Critical Metals

Market Cap: CA$403.5m

Operates as a mining exploration and development company in Canada.

Gaon Group

Market Cap: ₪849.8m

Operates as a flow infrastructure group in Israel.

Taiyo KagakuLtd

Market Cap: JP¥45.0b

Manufactures and sells functional food ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

Guangxi Chisage Fine Chemical Technology

Market Cap: CN¥1.9b

Engages in the research, development, production, and sale of pharmaceutical intermediates, urea, and fine chemicals in China and internationally.

Cinkarna Celje d. d

Market Cap: €234.2m

A chemical-processing company, produces and markets titanium dioxide pigments in Slovenia, the European Union, and internationally.

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi

Market Cap: ₺12.4b

Operates in the construction chemicals sector in Turkey and internationally.

Afrimat

Market Cap: R4.2b

Operates as a mining and materials company primarily in the southern African region.

Guangdong Tengen Industrial GroupLtd

Market Cap: CN¥1.7b

Guangdong Tengen Industrial Group Co.,Ltd.

Veedol

Market Cap: ₹24.4b

Engages in the manufacturing and marketing of lubricants under the Veedol brand in India.

Koskisen Oyj

Market Cap: €213.0m

Operates in wood industry in Finland, Japan, Germany, Poland, other European countries, and internationally.

Iberpapel Gestión

Market Cap: €206.6m

Engages in the manufacture and sells paper products in Spain, rest of the European Union, South America, Africa, and internationally.

Acadian Timber

Market Cap: CA$328.6m

Provides forest products in Eastern Canada and the Northeastern United States.

Misr National Steel - Ataqa

Market Cap: ج.م11.5b

Manufactures and sells steel rebars in Egypt.

KISCO

Market Cap: ₩334.6b

Develops and produces steel products in South Korea.

Nampak

Market Cap: R3.6b

Engages in the manufacture and sale of packaging products in South Africa and rest of Africa.

Panca Budi Idaman

Market Cap: Rp3.6t

Produces and distributes plastic bag finished products in Indonesia and internationally.

Songwon Industrial

Market Cap: ₩293.3b

Manufactures and sells polymer stabilizers, tin intermediates, PVC stabilizers, and specialty chemicals in South Korea, Rest of Asia, Europe, North and South America, the Middle East, and Africa.

Kafrit Industries (1993)

Market Cap: ₪583.1m

Offers customized masterbatches and compounds, and additives in Israel, China, Germany, Canada, the United states, Sweden, and internationally.

Kuriyama Holdings

Market Cap: JP¥31.4b

Manufactures and sells of various hoses, rubber, and plastics products in Japan, the United States, Canada, Europe, and internationally.

Castings

Market Cap: UK£143.7m

Engages in the iron casting and machining activities in the United Kingdom, Germany, Sweden, the Netherlands, rest of Europe, North and South America, and internationally.

Avarga

Market Cap: S$242.5m

An investment holding company, engages in the portfolio investment business in Canada, and the United States.

Gun Ei Chemical Industry

Market Cap: JP¥30.0b

Manufactures and sells synthetic resins and fibers in Japan and internationally.

Mayer Steel Pipe

Market Cap: NT$5.7b

Engages in production and sales of black steel and galvanized steel pipes, and stainless-steel coils for pipes in Taiwan.

DCW

Market Cap: ₹16.9b

Engages in the manufacture and sale of heavy chemical products in India.

Dongwha EnterpriseLtd

Market Cap: ₩261.6b

Manufactures and sells wood materials in South Korea.

Orvana Minerals

Market Cap: CA$241.8m

A mining and exploration company, engages in the evaluation, development, and mining of gold, copper, silver, and other precious and base metal deposits.

Dongkuk HoldingsLtd

Market Cap: ₩253.8b

Engages in the manufacture and sale of steel products in South Korea and internationally.

Huhtamaki India

Market Cap: ₹15.7b

Engages in the manufacture and sale of packaging materials in India.

United Paper

Market Cap: ฿5.4b

Engages in the production and distribution of box surface paper and Kraft paper for packaging corrugated boxes in Thailand.

Chuetsu Pulp & Paper

Market Cap: JP¥25.8b

Produces, processes, and sells paper, pulp, and related by-products in Japan and internationally.

Hsing Ta CementLtd

Market Cap: NT$5.0b

Produces and sells cement and clinker products in Taiwan and China.

Froch Enterprise

Market Cap: NT$4.9b

Manufactures, sells, and exports stainless steel tubes and pipes in Asia, Europe, the Middle East, the Americas, and internationally.

Sanghi Industries

Market Cap: ₹13.8b

Manufactures and markets cement and clinker in India.

Electrotherm (India)

Market Cap: ₹14.3b

An engineering and steel company, provides steel melting solutions worldwide.

Shree Pushkar Chemicals & Fertilisers

Market Cap: ₹14.0b

Manufactures and trades in chemicals, dyes and dyes intermediate, cattle feeds, fertilizers, and soil conditioners in India.

Global Ferronickel Holdings

Market Cap: ₱9.0b

Engages in mining, production, and exporting of nickel ores.