Aankondiging • Apr 23
Thai Rubber Latex Group Public Company Limited Appoints Air Marshal Asst. Prof. Dr. Patcharee Pipithsuksunt, as A Director, Independent Director, and Audit Committee Member Thai Rubber Latex Group Public Company Limited at its Annual General Meeting of shareholders 2026 held on April 22, 2026, approved the appointment of Air Marshal Asst. Prof. Dr. Patcharee Pipithsuksunt, as a Director, Independent Director, and Audit Committee Member. Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.22 loss per share (vs ฿0.27 loss in FY 2024) Full year 2025 results: ฿0.22 loss per share (improved from ฿0.27 loss in FY 2024). Revenue: ฿6.39b (down 16% from FY 2024). Net loss: ฿178.5m (loss narrowed 19% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Aankondiging • Feb 28
Thai Rubber Latex Group Public Company Limited announces Annual dividend, payable on May 21, 2026 Thai Rubber Latex Group Public Company Limited announced Annual dividend of THB 0.0031 per share payable on May 21, 2026, ex-date on April 30, 2026 and record date on May 05, 2026. Aankondiging • Feb 27
Thai Rubber Latex Group Public Company Limited, Annual General Meeting, Apr 22, 2026 Thai Rubber Latex Group Public Company Limited, Annual General Meeting, Apr 22, 2026, at 09:00 SE Asia Standard Time. Location: physical meeting, srinakarin room 1, dusit princess, srinakarin hotel, Thailand New Risk • Feb 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (฿736.0m market cap, or US$23.5m). Reported Earnings • Nov 15
Third quarter 2025 earnings released: ฿0.04 loss per share (vs ฿0.09 loss in 3Q 2024) Third quarter 2025 results: ฿0.04 loss per share (improved from ฿0.09 loss in 3Q 2024). Revenue: ฿1.38b (down 31% from 3Q 2024). Net loss: ฿29.5m (loss narrowed 61% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: ฿0.10 loss per share (vs ฿0.03 loss in 2Q 2024) Second quarter 2025 results: ฿0.10 loss per share (further deteriorated from ฿0.03 loss in 2Q 2024). Revenue: ฿1.30b (down 24% from 2Q 2024). Net loss: ฿85.2m (loss widened 315% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (฿466.1m market cap, or US$14.3m). Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.02 loss per share (vs ฿0.07 loss in 1Q 2024) First quarter 2025 results: ฿0.02 loss per share (improved from ฿0.07 loss in 1Q 2024). Revenue: ฿2.14b (up 17% from 1Q 2024). Net loss: ฿13.2m (loss narrowed 76% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. New Risk • Apr 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (฿490.7m market cap, or US$14.3m). Aankondiging • Mar 05
Thai Rubber Latex Group Public Company Limited announced that it expects to receive THB 500 million in funding Thai Rubber Latex Group Public Company Limited announced a private placement to issue 500,000 unsecured convertible bonds for a price of THB 1000 per Convertible bond and 90,000,000 Warrants to purchase ordinary common shares for the aggregate gross proceeds of THB 500,000,000 on March 3 2025. Maturity of Convertible Bonds will be 3 years from the date of issuance of Convertible Bonds. The convertible bonds bears an interest rate of 3.5% and a conversion price of THB 1.60. The exercise price for warrants will be BHD 2.25 per share. Reported Earnings • Mar 04
Full year 2024 earnings released: ฿0.27 loss per share (vs ฿0.44 loss in FY 2023) Full year 2024 results: ฿0.27 loss per share (improved from ฿0.44 loss in FY 2023). Revenue: ฿7.72b (up 17% from FY 2023). Net loss: ฿220.0m (loss narrowed 39% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 03
Thai Rubber Latex Group Public Company Limited, Annual General Meeting, Apr 24, 2025 Thai Rubber Latex Group Public Company Limited, Annual General Meeting, Apr 24, 2025, at 09:00 SE Asia Standard Time. Location: tana of novotel bangkok-bangna hotel, address 333 srinakarin road, nongbon, pravet, bangkok 10250, thailand., bangkok Thailand New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings have declined by 5.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿362m free cash flow). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 5.7% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿776.9m market cap, or US$22.5m). Reported Earnings • Aug 09
Second quarter 2024 earnings released: ฿0.03 loss per share (vs ฿0.12 loss in 2Q 2023) Second quarter 2024 results: ฿0.03 loss per share (improved from ฿0.12 loss in 2Q 2023). Revenue: ฿1.72b (up 34% from 2Q 2023). Net loss: ฿20.5m (loss narrowed 79% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jul 01
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to ฿1.19. The fair value is estimated to be ฿1.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to ฿1.24. The fair value is estimated to be ฿1.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.2% to ฿1.22. The fair value is estimated to be ฿1.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 10
First quarter 2024 earnings released: ฿0.07 loss per share (vs ฿0.091 loss in 1Q 2023) First quarter 2024 results: ฿0.07 loss per share (improved from ฿0.091 loss in 1Q 2023). Revenue: ฿1.85b (down 4.7% from 1Q 2023). Net loss: ฿54.5m (loss narrowed 27% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Aankondiging • Apr 27
Thai Rubber Latex Group Public Company Limited Approves Omission of Dividend for the Year 2023 Thai Rubber Latex Group Public Company Limited at the Annual General Meeting held on April 25, 2024 unanimously approved the dividend omission and no allocation of net profit for legal reserves for 2023's operating results, due to the group net losses THB 50.05 million in 2023. New Risk • Apr 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.2% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (฿1.23b market cap, or US$33.8m). Buy Or Sell Opportunity • Mar 01
Now 21% undervalued Over the last 90 days, the stock has risen 4.2% to ฿1.24. The fair value is estimated to be ฿1.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 23
Full year 2023 earnings released: ฿0.44 loss per share (vs ฿0.32 profit in FY 2022) Full year 2023 results: ฿0.44 loss per share (down from ฿0.32 profit in FY 2022). Revenue: ฿6.65b (down 28% from FY 2022). Net loss: ฿362.2m (down 239% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Aankondiging • Nov 10
Thai Rubber Latex Group Public Company Limited Announces Board Changes Thai Rubber Latex Group Public Company Limited appointed Mr. Surabhon Kwunchaithunya to be the Chairman of the Remuneration Director to replace Mr. Vorathep Wongsasuthikul which will be effective November 9, 2023. However, the director shall have the term only as of the remaining term of the replacement Chairman. And appointing 1 new director Mr. Wongsakul Kittipromwong, Member of the Remuneration Committee, Effective since November 9, 2023. Reported Earnings • Nov 10
Third quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.06 profit in 3Q 2022) Third quarter 2023 results: ฿0.13 loss per share (down from ฿0.06 profit in 3Q 2022). Revenue: ฿1.59b (down 23% from 3Q 2022). Net loss: ฿106.5m (down 321% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 11% per year. Buying Opportunity • Nov 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.5%. The fair value is estimated to be ฿1.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Aug 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be ฿1.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.12 loss per share (vs ฿0.17 profit in 2Q 2022) Second quarter 2023 results: ฿0.12 loss per share (down from ฿0.17 profit in 2Q 2022). Revenue: ฿1.30b (down 48% from 2Q 2022). Net loss: ฿99.0m (down 173% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 12
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be ฿2.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • May 02
Upcoming dividend of ฿0.12 per share at 6.4% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 6.4%. Within top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (3.0%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: ฿0.32 (vs ฿0.84 in FY 2021) Full year 2022 results: EPS: ฿0.32 (down from ฿0.84 in FY 2021). Revenue: ฿9.31b (flat on FY 2021). Net income: ฿261.1m (down 57% from FY 2021). Profit margin: 2.8% (down from 6.5% in FY 2021). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 7 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Sompop Rangubtook was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.17 (vs ฿0.17 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.17. Revenue: ฿2.49b (up 11% from 2Q 2021). Net income: ฿135.5m (up 13% from 2Q 2021). Profit margin: 5.4% (up from 5.3% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 15
First quarter 2022 earnings released: EPS: ฿0.16 (vs ฿0.20 in 1Q 2021) First quarter 2022 results: EPS: ฿0.16. Revenue: ฿2.67b (up 19% from 1Q 2021). Net income: ฿133.0m (flat on 1Q 2021). Profit margin: 5.0% (down from 5.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Board Change • Apr 27
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. 6 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Sompop Rangubtook was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 20% share price gain to ฿3.36, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 13x in the Chemicals industry in Thailand. Total returns to shareholders of 129% over the past three years. Reported Earnings • Feb 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.84 (up from ฿0.035 in FY 2020). Revenue: ฿9.42b (up 38% from FY 2020). Net income: ฿607.1m (up ฿583.0m from FY 2020). Profit margin: 6.4% (up from 0.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.19 (vs ฿0.043 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.22b (up 29% from 3Q 2020). Net income: ฿134.6m (up ฿164.0m from 3Q 2020). Profit margin: 6.1% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2021 earnings released: EPS ฿0.20 (vs ฿0.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.26b (up 38% from 1Q 2020). Net income: ฿132.9m (up 79% from 1Q 2020). Profit margin: 5.9% (up from 4.5% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS ฿0.04 (vs ฿0.52 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿6.97b (up 2.0% from FY 2019). Net income: ฿24.2m (up ฿375.9m from FY 2019). Profit margin: 0.3% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 19
New 90-day high: ฿2.20 The company is up 25% from its price of ฿1.76 on 20 November 2020. The Thai market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: ฿2.18 The company is up 27% from its price of ฿1.72 on 20 October 2020. The Thai market is up 26% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 45% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: ฿0.04 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: ฿1.73b (up 5.9% from 3Q 2019). Net loss: ฿29.5m (loss narrowed 59% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 97% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 26
New 90-day high: ฿2.12 The company is up 49% from its price of ฿1.42 on 24 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 Chemicals industry, which is down 12% over the same period. 
