New Risk • Jun 26
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 6.1% 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 Risks Earnings have declined by 71% per year over the past 5 years. Market cap is less than US$10m (฿316.8m market cap, or US$9.48m). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • May 17
First quarter 2026 earnings released: EPS: ฿0.008 (vs ฿0.015 loss in 1Q 2025) First quarter 2026 results: EPS: ฿0.008 (up from ฿0.015 loss in 1Q 2025). Revenue: ฿226.2m (up 71% from 1Q 2025). Net income: ฿4.35m (up ฿13.3m from 1Q 2025). Profit margin: 1.9% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.078 loss per share (vs ฿0.18 loss in FY 2024) Full year 2025 results: ฿0.078 loss per share (improved from ฿0.18 loss in FY 2024). Revenue: ฿594.3m (up 3.6% from FY 2024). Net loss: ฿44.7m (loss narrowed 56% from FY 2024). 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 42% per year, which means it is significantly lagging earnings. Duyuru • Feb 27
Nova Organic Public Company Limited, Annual General Meeting, Apr 30, 2026 Nova Organic Public Company Limited, Annual General Meeting, Apr 30, 2026, at 10:00 SE Asia Standard Time. Location: nova organic public company, limited no. 468 soi ramaii soi 60, samaedum subdistrict, bangkhuntian district, bangkok province., bangkok Thailand New Risk • Jan 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿305.3m (US$9.69m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 87% per year over the past 5 years. Market cap is less than US$10m (฿305.3m market cap, or US$9.69m). Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Duyuru • Dec 20
Nova Organic Public Company Limited Announces Resignation of Navaphol Chanjuthamard as Company Director, Effective from December 19, 2025 Nova Organic Public Company Limited announced that Mr. Navaphol chanjuthamard has submitted a letter of resignation from his position as a Company Director, dated December 19, 2025, effective from December 19, 2025 onwards. However, the Board is in the process of considering the selection of a qualified person to replace one of the vacant director positions. New Risk • Dec 18
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 6.0% 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 87% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (฿328.3m market cap, or US$10.4m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.043 loss per share (vs ฿0.087 loss in 3Q 2024) Third quarter 2025 results: ฿0.043 loss per share (improved from ฿0.087 loss in 3Q 2024). Revenue: ฿140.0m (flat on 3Q 2024). Net loss: ฿24.5m (loss narrowed 51% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.024 loss per share (vs ฿0.049 loss in 2Q 2024) Second quarter 2025 results: ฿0.024 loss per share (improved from ฿0.049 loss in 2Q 2024). Revenue: ฿132.5m (down 6.5% from 2Q 2024). Net loss: ฿13.6m (loss narrowed 52% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 30% per year. Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.015 loss per share (vs ฿0.031 loss in 1Q 2024) First quarter 2025 results: ฿0.015 loss per share (improved from ฿0.031 loss in 1Q 2024). Revenue: ฿132.3m (down 4.0% from 1Q 2024). Net loss: ฿8.93m (loss narrowed 50% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year whereas the company’s share price has fallen by 46% per year. New Risk • Apr 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿322.6m (US$9.27m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 80% per year over the past 5 years. Market cap is less than US$10m (฿322.6m market cap, or US$9.27m). Reported Earnings • Feb 28
Full year 2024 earnings released: ฿0.18 loss per share (vs ฿0.12 loss in FY 2023) Full year 2024 results: ฿0.18 loss per share (further deteriorated from ฿0.12 loss in FY 2023). Revenue: ฿573.7m (down 6.4% from FY 2023). Net loss: ฿102.4m (loss widened 51% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 18 percentage points per year, which is a significant difference in performance. Duyuru • Feb 28
Nova Organic Public Company Limited, Annual General Meeting, Apr 23, 2025 Nova Organic Public Company Limited, Annual General Meeting, Apr 23, 2025, at 13:30 SE Asia Standard Time. Location: at nova organic public company limited no. 88/9, moo 10, nai khlong bang pla kot subdistrict, phra samut chedi district, samut prakan province., Thailand Duyuru • Jan 16
Nova Organic Public Company Limited Announces CFO Changes Nova Organic Public Company Limited announced Termination of Mrs. Treerapha Thirapatana as CFO, effective 13 January 2025 and appointment of Mrs. Kochakorn Saising as CFO, effective 14 January 2025. New Risk • Dec 20
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 9.0% 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 (9.0% average weekly change). Earnings have declined by 83% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿506.9m market cap, or US$14.6m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: ฿0.049 loss per share (vs ฿0.026 loss in 2Q 2023) Second quarter 2024 results: ฿0.049 loss per share (further deteriorated from ฿0.026 loss in 2Q 2023). Revenue: ฿141.7m (down 10% from 2Q 2023). Net loss: ฿28.5m (loss widened 86% from 2Q 2023). Duyuru • Aug 14
Nova Organic Public Company Limited Announces CFO Changes Nova Organic Public Company Limited announced termination of Mr. Yuttana Taepangthong, Chief Financial Officer, effective from August 31, 2024. The company also announced the appointment of Mrs. Treerapha Thirapatana as Chief Financial Officer, effective from September 1, 2024. New Risk • Jun 20
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 6.1% 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 82% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (฿604.8m market cap, or US$16.5m). Reported Earnings • May 17
First quarter 2024 earnings released: ฿0.031 loss per share (vs ฿0.005 profit in 1Q 2023) First quarter 2024 results: ฿0.031 loss per share (down from ฿0.005 profit in 1Q 2023). Revenue: ฿137.8m (down 19% from 1Q 2023). Net loss: ฿17.9m (down ฿20.8m from profit in 1Q 2023). Duyuru • Apr 27
Nova Organic Public Company Limited Announces Resignation of Mr. Apimuk Sukprasit as Independent Director Nova Organic Public Company Limited announced that Mr. Apimuk Sukprasit has submitted a letter of resignation from his position as a Company Director, Independent Director, dated April 24, 2024, effective from April 24, 2024 onwards. Duyuru • Feb 28
Nova Organic Public Company Limited, Annual General Meeting, Apr 24, 2024 Nova Organic Public Company Limited, Annual General Meeting, Apr 24, 2024, at 13:30 SE Asia Standard Time. Agenda: To Consider and Certify the Minutes of the Annual General Meeting of Shareholders year 2023; to acknowledge the company's performance of year 2023; to approve the financial statement ended on 31 December, 2023; to approve the appointment of the auditors and approve the audit fees of year 2024; to approval of no dividend payment for the Year as ended 31 December 2023; to approve the appointment of directors to replace those who will retire by rotation of Year 2024; and to consider other matters if any. Reported Earnings • Feb 28
Full year 2023 earnings released: ฿0.12 loss per share (vs ฿0.14 loss in FY 2022) Full year 2023 results: ฿0.12 loss per share (improved from ฿0.14 loss in FY 2022). Revenue: ฿613.2m (down 19% from FY 2022). Net loss: ฿67.8m (loss narrowed 19% from FY 2022). New Risk • Dec 06
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 6.1% 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 Risks 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 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (฿984.9m market cap, or US$27.9m). Reported Earnings • Nov 14
Third quarter 2023 earnings released: ฿0.038 loss per share (vs ฿0.042 loss in 3Q 2022) Third quarter 2023 results: ฿0.038 loss per share (improved from ฿0.042 loss in 3Q 2022). Revenue: ฿140.9m (down 2.0% from 3Q 2022). Net loss: ฿21.7m (loss narrowed 13% from 3Q 2022). Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.026 loss per share (vs ฿0.051 loss in 2Q 2022) Second quarter 2023 results: ฿0.026 loss per share (improved from ฿0.051 loss in 2Q 2022). Revenue: ฿158.0m (down 26% from 2Q 2022). Net loss: ฿15.3m (loss narrowed 50% from 2Q 2022). Buying Opportunity • May 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.5%. The fair value is estimated to be ฿3.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Feb 14
Now 23% undervalued Over the last 90 days, the stock is up 5.8%. The fair value is estimated to be ฿3.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 20
Third quarter 2022 earnings released: ฿0.042 loss per share (vs ฿0.029 profit in 3Q 2021) Third quarter 2022 results: ฿0.042 loss per share (down from ฿0.029 profit in 3Q 2021). Revenue: ฿143.8m (down 46% from 3Q 2021). Net loss: ฿25.0m (down 292% from profit in 3Q 2021). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Amnuay Gajeena was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 19
Second quarter 2022 earnings released: ฿0.051 loss per share (vs ฿0.15 profit in 2Q 2021) Second quarter 2022 results: ฿0.051 loss per share (down from ฿0.15 profit in 2Q 2021). Revenue: ฿212.2m (down 48% from 2Q 2021). Net loss: ฿30.4m (down 144% from profit in 2Q 2021). Buying Opportunity • Jun 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be ฿5.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 61% over the last year. Earnings per share has declined by 99%. Duyuru • May 12
Nova Organic Public Company Limited Announces Executive Changes Nova Organic Public Company Limited announced that the Board of Directors' Meeting No. 3/2022, held on May 10, 2022, has a resolution on Resignation and Appoint the company's directors and executive directors as follows: Resignation of Mr. Sutthichai Sungkamanee, Director who is Independent Director, effective on May 10, 2022 and Mr. Isares Janyawannasiri, Director, Executive Director, effective on May 10, 2022, and Vice Chief Financial Officer, effective on March 30, 2022. The two directors submitted a resignation letter from the said position due to increased missions making them unable to perform the above duties of the company. Approved Appointment Ms. Haruethai Sirisinviboon to be a Director, effective on May 10, 2022 and appointed Mr. Yuttana Taepangthong to be an Executive Director, effective on May 10, 2022. and Vice Chief Financial Officer, effective on April 1, 2022. Buying Opportunity • May 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be ฿5.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 55% over the last year. Earnings per share has declined by 99%. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ฿4.84, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 39x in the Personal Products industry in Thailand. Duyuru • Feb 24
Nova Organic Public Company Limited, Annual General Meeting, Apr 27, 2022 Nova Organic Public Company Limited, Annual General Meeting, Apr 27, 2022, at 03:00 Coordinated Universal Time. Agenda: To Consider and Certify the Minutes of the Extraordinary General Shareholders' Meeting No. 2/2021 The board's opinion recommend the shareholders to Certify the Minutes of the Extraordinary General Shareholders' Meeting No. 2/2021; to acknowledge the company's performance of year 2021 The board's opinion recommend the shareholders to acknowledge the company's performance of year 2021; to approve the financial statement ended on 31 December 2021 The board's opinion recommend the shareholders to approve the financial statement ended on 31 December 2021 which has been audited by the auditor; and to discus other matters. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.18 (down from ฿2.55 in FY 2020). Revenue: ฿1.24b (down 45% from FY 2020). Net income: ฿80.3m (down 90% from FY 2020). Profit margin: 6.5% (down from 35% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ฿5.95, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 25x in the Personal Products industry in Thailand.