Price Target Changed • May 11
Price target decreased by 15% to ฿3.59 Down from ฿4.22, the current price target is an average from 2 analysts. New target price is 22% above last closing price of ฿2.94. Stock is up 8.9% over the past year. The company is forecast to post earnings per share of ฿0.27 for next year compared to ฿0.27 last year. Reported Earnings • May 08
First quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2026 results: EPS: ฿0.06 (down from ฿0.063 in 1Q 2025). Revenue: ฿770.4m (up 6.6% from 1Q 2025). Net income: ฿48.4m (down 4.2% from 1Q 2025). Profit margin: 6.3% (down from 7.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Consumer Retailing industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • Apr 23
Thanapiriya Public Company Limited Approves Dividend for Year 2025, Payable on 22 May 2026 Thanapiriya Public Company Limited at the AGM held on 22 April 2026, approved to distribute dividend to existing shareholders whose names appear in the Register of Shareholders as of March 12, 2026, i.e. the Record Date, determined by the Board of Directors. The dividend shall be distributed at the rate of THB 0.105 per share with a total amount of THB 84,000,000 of which the Company has paid an interim dividend at the rate of THB 0.05 per share, or amounting to THB 40,000,000 on September 8, 2025. Therefore, the remaining dividends will be paid at the rate of THB 0.055 per share, amounting to THB 44,000,000 and the dividend distribution will be made on May 22, 2026. The rate of the paid dividend in comparison with net profit of the separate financial statements, after deduction of corporate income tax and statutory reserve in 2025, is equivalent to 41.14%, which is in line with the Company's dividend policy. Reported Earnings • Mar 03
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ฿0.27 (up from ฿0.23 in FY 2024). Revenue: ฿3.09b (up 7.6% from FY 2024). Net income: ฿212.6m (up 15% from FY 2024). Profit margin: 6.9% (up from 6.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Consumer Retailing industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 28
Dividend of ฿0.055 announced Shareholders will receive a dividend of ฿0.055. Ex-date: 11th March 2026 Payment date: 22nd May 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (169% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Feb 26
Thanapiriya Public Company Limited Proposes Cash Dividend for the Operating Period from 01 July 2025 to 31 December 2025, Payable on 22 May 2026 Thanapiriya Public Company Limited proposed cash dividend of THB 0.0550 per share or THB 44,000,000 for the operating period from 01 July 2025 to 31 December 2025 to the AGM to be held on 22 Apr. 2026, at its Board resolution on 25 Feb. 2026. Payment date is 22 May 2026. Record date for the right to receive dividends is 12 March 2026 and Ex-dividend date is 11 March 2026. Annonce • Feb 25
Thanapiriya Public Company Limited, Annual General Meeting, Apr 22, 2026 Thanapiriya Public Company Limited, Annual General Meeting, Apr 22, 2026, at 14:00 SE Asia Standard Time. Location: chiang rung 2-3 room, wiang inn hotel, 893 phaholyothin rd, tambon wiang, mueang chiang rai district, chiang rai, Thailand Reported Earnings • Nov 06
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: ฿0.06 (up from ฿0.059 in 3Q 2024). Revenue: ฿731.1m (flat on 3Q 2024). Net income: ฿47.7m (flat on 3Q 2024). Profit margin: 6.5% (in line with 3Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Consumer Retailing industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿3.26, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Consumer Retailing industry in Asia. Total loss to shareholders of 17% over the past three years. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: ฿0.063 (up from ฿0.053 in 2Q 2024). Revenue: ฿742.9m (up 4.7% from 2Q 2024). Net income: ฿50.4m (up 19% from 2Q 2024). Profit margin: 6.8% (up from 6.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.0%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Consumer Retailing industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • May 10
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: ฿0.063 (up from ฿0.056 in 1Q 2024). Revenue: ฿722.5m (up 3.2% from 1Q 2024). Net income: ฿50.5m (up 12% from 1Q 2024). Profit margin: 7.0% (up from 6.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.0%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Consumer Retailing industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 27
Final dividend increased to ฿0.052 Dividend of ฿0.052 is 17% higher than last year. Ex-date: 12th March 2025 Payment date: 23rd May 2025 Dividend yield will be 3.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 13% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ฿0.23 (up from ฿0.19 in FY 2023). Revenue: ฿2.87b (up 9.9% from FY 2023). Net income: ฿185.5m (up 19% from FY 2023). Profit margin: 6.5% (up from 6.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.5%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Consumer Retailing industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Annonce • Feb 26
Thanapiriya Public Company Limited Proposes Cash Dividend for the Operating Period from 01 Jul. 2024 to 31 Dec. 2024, Payable on 23 May 2025 Thanapiriya Public Company Limited proposed cash dividend of THB 0.0525 per share or THB 42,000,000 for the operating period from 01 Jul. 2024 to 31 Dec. 2024 to the AGM to be held on 25 Apr. 2025, at its Board resolution on 25 Feb. 2025. Payment date is 23 May 2025. Record date for the right to receive dividends is 13 Mar. 2025 and Ex-dividend date is 12 Mar. 2025. Annonce • Feb 25
Thanapiriya Public Company Limited, Annual General Meeting, Apr 25, 2025 Thanapiriya Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: chiang rung 2-3 room, wiang inn hotel, 893, phaholyothin rd, tambon wiang, mueang chiang-, rai district, chiang rai, Thailand Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿3.56, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Consumer Retailing industry in Thailand. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿2.06 per share. Declared Dividend • Aug 07
First half dividend of ฿0.043 announced Shareholders will receive a dividend of ฿0.043. Ex-date: 19th August 2024 Payment date: 5th September 2024 Dividend yield will be 2.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but not adequately covered by cash flows (90.3% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Aug 06
Thanapiriya Public Company Limited Announces Cash Dividend for the Period from January 1, 2024 to June 30, 2024, Payable on September 05, 2024 Thanapiriya Public Company Limited announced cash dividend of THB 0.0425 per share for the period from January 1, 2024 to June 30, 2024. Record date for the right to receive dividends is 20-Aug-2024. Ex-dividend date is 19-Aug-2024. Payment date is 05-Sep-2024. Reported Earnings • Aug 06
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ฿0.053 (up from ฿0.047 in 2Q 2023). Revenue: ฿709.8m (up 10% from 2Q 2023). Net income: ฿42.3m (up 12% from 2Q 2023). Profit margin: 6.0% (up from 5.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 99%. Earnings per share (EPS) also surpassed analyst estimates by 6.0%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Annonce • Jul 01
Thanapiriya Public Company Limited Announces Management Changes Thanapiriya Public Company Limited announced that at its board meeting held on 29 June 2024 has resolved as following details: Acknowledged the resignation of Mr. Thawatchai Phutthiphiriya from the position of Director, Managing Director, Chairman of the Executive Board and Chairman of the Risk Management Committee due to his health problems. The resignation was effective from 30 June 2024; Resolved to appoint Mr. Thanaphoom Phutthiphiriya to be director in place of Mr. Thawatchai Phutthiphiriya who resigned, with effective from 1 July 2024 onwards and has tenure equal to the remaining term of Mr. Thawatchai Phutthiphiriya. Resolved to change the authorized directors of the Company as following detail: From: Mr. Thawatchai Phutthiphiriya, Mrs. Amorn Phutthiphiriya, Mrs. Chularat Ngamloetlee, Miss Busakorn Tadthapong Two of these four directors co-sign and affix the company's seal. To: Mrs. Amorn Phutthiphiriya, Mrs. Chularat Ngamloetlee, Miss Busakorn Tadthapong, Mr. Thanaphong Phutthiphiriya, Mr. Thanaphoom Phutthiphiriya Two of these five directors co-sign and affix the company's seal. Resolution of additional executives' nomination effective from 1 July 2024, as following: Mrs. Amorn Phutthipiriya, Deputy Managing Director of Operation as Managing Director, Chairman of the Executive Board and Chairman of the Risk Management Committee; Mr. Thanaphong Phutthiphiriya, Operation Director as Deputy Managing Director of Operation; Mr. Thanaphoom Phutthiphiriya, Sales and Marketing Director as Deputy Managing Director of Marketing; Mr. Pittaya Jitmase, Accounting and Finance Director as Deputy Managing Director of Accounting and Finance; Mrs. Duangjai Yuinth, Accounting and Finance Manager as Deputy Director of Accounting and Finance; Miss Junya Charoensuk, Warehouse and Operation Manager as Deputy Director of Warehouse and Operation. Upcoming Dividend • Feb 29
Upcoming dividend of ฿0.045 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (1.9%). Declared Dividend • Feb 21
Final dividend of ฿0.045 announced Shareholders will receive a dividend of ฿0.045. Ex-date: 7th March 2024 Payment date: 24th May 2024 Dividend yield will be 2.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Annonce • Feb 20
Thanapiriya Public Company Limited, Annual General Meeting, Apr 20, 2024 Thanapiriya Public Company Limited, Annual General Meeting, Apr 20, 2024, at 14:00 Indian Standard Time. Location: Heritage Ballroom 1 Room, Heritage Hotel, 199 Moo.13 Phaholyothin Rd, Sansai Sub-District, Mueang Chiang Rai Thailand Agenda: To consider and approve the Minutes of the Annual General Meeting of Shareholders for the Year 2023; to Acknowledge the company's operating results for the year 2023; to consider and approve the Financial Statements for the Year ended December 31, 2023; to consider and approve the allocation for legal reserves and dividend payment base on the Company's 2023 operating results; to consider and approve the appointment of directors to replace those who retired by rotation in 2024; to consider and approve the remuneration of the Company's directors for the year 2024; to consider and approve the appointment of the Auditor and determination of audit fees for the year 2024; to consider and approve the appointment of an addition director; to consider and approve the amendment of the Company's Articles of Association; to consider Other matter (if any). Reported Earnings • Feb 20
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ฿0.19 (up from ฿0.19 in FY 2022). Revenue: ฿2.61b (up 7.4% from FY 2022). Net income: ฿155.5m (up 4.4% from FY 2022). Profit margin: 6.0% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Annonce • Feb 19
Thanapiriya Public Company Limited Proposes Dividend for Operating Period July 1, 2023 to December 31, 2023, Payable on May 24, 2024 Thanapiriya Public Company Limited proposed dividend of THB 0.045 per share for operating period July 1, 2023 to December 31, 2023. Payment date May 24, 2024. Ex-dividend date March 7, 2024. Record date for the right to receive dividend march 8, 2024. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: ฿0.042 (vs ฿0.046 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.042 (down from ฿0.046 in 3Q 2022). Revenue: ฿650.6m (up 4.8% from 3Q 2022). Net income: ฿33.7m (down 9.1% from 3Q 2022). Profit margin: 5.2% (down from 6.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Consumer Retailing industry in Thailand. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.04 per share at 2.4% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 06 September 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (1.5%). Annonce • Aug 08
Thanapiriya Public Company Limited Announces Interim Dividend for the Period from January 1, 2023 to June 30, 2023, Payable on September 6, 2023 Thanapiriya Public Company Limited announced interim dividend of THB 0.04 per share for Operating period from January 1, 2023 to June 30, 2023, payable on September 6, 2023. Record date for the right to receive dividends is August 22, 2023, Ex-dividend date is August 21, 2023. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: ฿0.047 (vs ฿0.043 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.047 (up from ฿0.043 in 2Q 2022). Revenue: ฿643.8m (up 11% from 2Q 2022). Net income: ฿37.8m (up 11% from 2Q 2022). Profit margin: 5.9% (in line with 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Consumer Retailing industry in Thailand. Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: ฿0.045 (vs ฿0.045 in 1Q 2022) First quarter 2023 results: EPS: ฿0.045 (in line with 1Q 2022). Revenue: ฿621.7m (up 5.7% from 1Q 2022). Net income: ฿36.3m (up 1.3% from 1Q 2022). Profit margin: 5.8% (down from 6.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Retailing industry in Thailand. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 07
Upcoming dividend of ฿0.045 per share at 2.0% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 23
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ฿0.19 (down from ฿0.24 in FY 2021). Revenue: ฿2.43b (down 7.2% from FY 2021). Net income: ฿149.0m (down 22% from FY 2021). Profit margin: 6.1% (down from 7.3% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Chairman of the Board of Directors Pitsanu Khantipong was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.035 per share Eligible shareholders must have bought the stock before 22 August 2022. Payment date: 07 September 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: ฿0.043 (vs ฿0.055 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.043 (down from ฿0.055 in 2Q 2021). Revenue: ฿579.1m (down 4.2% from 2Q 2021). Net income: ฿34.2m (down 22% from 2Q 2021). Profit margin: 5.9% (down from 7.3% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 17%, compared to a 32% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 28% per year. Annonce • Aug 09
Thanapiriya Public Company Limited Announces Interim Dividend for the Period from January 1, 2022 to June 30, 2022, Payable on September 7, 2022 Thanapiriya Public Company Limited announced interim dividend of THB 0.035 per share for Operating period from January 1, 2022 to June 30, 2022, payable on September 7, 2022. Record date for the right to receive dividends is August 23, 2022, Ex-dividend date is August 22, 2022. Price Target Changed • May 28
Price target decreased to ฿6.30 Down from ฿7.00, the current price target is an average from 2 analysts. New target price is 54% above last closing price of ฿4.10. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.23 for next year compared to ฿0.24 last year. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ฿0.045 (down from ฿0.071 in 1Q 2021). Revenue: ฿588.2m (down 22% from 1Q 2021). Net income: ฿35.8m (down 37% from 1Q 2021). Profit margin: 6.1% (down from 7.6% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 20%, compared to a 32% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Chairman of the Board of Directors Pitsanu Khantipong was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 03
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (1.3%). Annonce • Feb 25
Thanapiriya Public Company Limited, Annual General Meeting, Apr 22, 2022 Thanapiriya Public Company Limited, Annual General Meeting, Apr 22, 2022, at 14:00 SE Asia Standard Time. Location: Heritage Ballroom 1 Room, Heritage Hotel, 199 Moo.13 Phaholyothin Rd, Sansai Sub-District, Mueang Chiang Rai District, Chiang Rai Chiang Rai Thailand Agenda: To consider and approve the Minutes of the Annual General Meeting of Shareholders for the Year 2021; to Acknowledge the company's operating results for the year 2021; to consider and approve the Financial Statements for the Year ended December 31, 2021; to consider and approve the allocation for legal reserves and dividend payment base on the company's 2021 operating results; to consider and approve the appointment of directors to replace those who retired by rotation in 2022; to consider and approve the remuneration of the company's directors for the year 2022; to consider and approve the appointment of the Auditor and determination of audit fees for the year 2022; and to consider the other matters. Reported Earnings • Feb 24
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: ฿0.24 (up from ฿0.17 in FY 2020). Revenue: ฿2.62b (up 19% from FY 2020). Net income: ฿192.1m (up 44% from FY 2020). Profit margin: 7.3% (up from 6.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 7.9%, compared to a 41% growth forecast for the retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 24
Thanapiriya Public Company Limited Proposes Dividend, Payable on May 20, 2022 The Board of Directors’ Meeting of Thanapiriya Public Company Limited has resolved in the meeting held on February 23, 2022, approved the dividend payment based on the operating result of 2021 to shareholders (Amount 800,000,000 shares) at THB 0.10 per share, totaling THB 80,000,000. After deducting the interim dividend payment of THB 0.05 per share, totaling THB 40,000,000 which was paid to shareholders on 3 September 2021, the dividend will be paid at THB 0.05 per share or THB 40,000,000. The name list of shareholders, who have right to receive the dividend for this period will be determined on March 11, 2022. The dividend payment of this period will be paid on May 20, 2022. Thus, the rights of receiving the dividend are uncertainty since it must be approved at the AGM of shareholders. The Board of Directors will propose to the AGM of Shareholders for further approval. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS ฿0.047 (vs ฿0.038 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿576.2m (up 11% from 3Q 2020). Net income: ฿37.8m (up 26% from 3Q 2020). Profit margin: 6.6% (up from 5.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 12
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 19 August 2021. Payment date: 03 September 2021. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.0%). In line with average of industry peers (1.9%). Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS ฿0.055 (vs ฿0.035 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿604.6m (up 18% from 2Q 2020). Net income: ฿43.9m (up 56% from 2Q 2020). Profit margin: 7.3% (up from 5.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Reported Earnings • May 08
First quarter 2021 earnings released: EPS ฿0.071 (vs ฿0.039 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿751.9m (up 37% from 1Q 2020). Net income: ฿57.0m (up 81% from 1Q 2020). Profit margin: 7.6% (up from 5.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 15% share price gain to ฿6.00, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 22x in the Consumer Retailing industry in Asia. Total returns to shareholders of 208% over the past three years. Upcoming Dividend • Mar 04
Upcoming Dividend of ฿0.04 Per Share Will be paid on the 19th of May to those who are registered shareholders by the 11th of March. The trailing yield of 1.8% is below the top quartile of Thai dividend payers (5.8%), but is in line with industry peers (1.9%). Is New 90 Day High Low • Feb 24
New 90-day high: ฿4.22 The company is up 24% from its price of ฿3.40 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 6.0% over the same period. Annonce • Feb 23
Thanapiriya Public Company Limited Announces Executive Appointments Thanapiriya Public Company Limited approved proposing to the Shareholders’ Meeting to consider and approve the election of directors in replacement of two retiring directors as following names Mrs. Chularat Ngamloetlee and Miss. Busakorn Tadthapong, at the board meeting held on February 22, 2021. Reported Earnings • Feb 23
Full year 2020 earnings released: EPS ฿0.17 (vs ฿0.11 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿2.20b (up 13% from FY 2019). Net income: ฿133.9m (up 51% from FY 2019). Profit margin: 6.1% (up from 4.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 23
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 11%, compared to a 13% growth forecast for the Consumer Retailing industry in Thailand. Is New 90 Day High Low • Feb 01
New 90-day high: ฿4.18 The company is up 18% from its price of ฿3.54 on 03 November 2020. The Thai market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Retailing industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ฿3.76 The company is up 11% from its price of ฿3.38 on 14 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Retailing industry, which is down 3.0% over the same period. Price Target Changed • Dec 11
Price target raised to ฿4.30 Up from ฿2.84, the current price target is provided by 1 analyst. The new target price is 21% above the current share price of ฿3.54. As of last close, the stock is up 72% over the past year. Major Estimate Revision • Dec 11
Analysts update estimates The 2020 consensus revenue estimate was lowered from ฿2.24b to ฿2.16b. Earnings per share (EPS) increased from ฿0.13 to ฿0.15 for the same period. Net income is expected to grow by 11% next year compared to 12% growth forecast for the Consumer Retailing industry in Thailand. The consensus price target increased from ฿2.84 to ฿4.30. Share price is down by 3.8% to ฿3.54 over the past week. Is New 90 Day High Low • Oct 29
New 90-day high: ฿3.44 The company is up 15% from its price of ฿2.98 on 31 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 15% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of ฿122.1m, up 60% from the prior year. Total revenue was ฿2.10b over the last 12 months, up 13% from the prior year. Is New 90 Day High Low • Oct 06
New 90-day high: ฿3.22 The company is up 13% from its price of ฿2.86 on 08 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 8.0% over the same period.