PHOL : PHOL DHANYA PUBLIC COMPANY LIMITED
9M/2022 (Jan - Sep 2022)
Business Overview
Distribution of Occupational Safety, Health and Environment Products and Distribution, Construction, Production, and Service of Water Solution Systems
Business Highlight

Occupational Safety, Health and Environment is an issue in which business operators, state agencies and private organizations have increasingly devoted importance in compliance with stricter regulations and laws. And new behaviors and heightened occupational health and safety awareness among the public.

Performance and Analysis 9M/2022
9M22 9M21 2021 2020
Income Statement (MB)
Revenues 772.77 955.42 1,229.82 1,062.56
Expenses 717.17 863.61 1,122.19 971.42
Net Profit (Loss) 42.18 68.89 81.89 73.86
Balance Sheet (MB)
Assets 673.54 670.53 636.23 606.00
Liabilities 331.96 335.39 288.06 278.85
Shareholders' Equity 342.88 336.45 349.47 328.45
Cash Flow (MB)
Operating 19.66 -23.16 35.31 79.93
Investing -16.93 -1.17 -4.64 -5.10
Financing -11.72 -18.78 -64.22 -68.01
Financial Ratio
EPS (Baht) 0.21 0.34 0.40 0.36
GP Margin (%) 25.56 23.23 23.46 25.97
NP Margin (%) 5.46 7.21 6.66 6.95
D/E Ratio (x) 0.97 1.00 0.83 0.85
ROE (%) 16.25 25.13 24.16 23.42
ROA (%) 10.75 16.51 16.90 15.95
Business Performance Summary

Overall, the Company's revenue and net profit decreased YoY, mainly due to a significant drop in market price and demand for rubber and nitrile gloves, compared with the same period of time in the last year that still in the situation of the epidemic of the COVID virus that has demand for products in both industrial and medical sectors. Furthermore, the sales revenue from COVID-19-related products also decreased in accordance with the intensity of the spread. However, the overall economy and production in the industrial sector are expanding and there is still an increase in orders among those customers. 

Key Milestones
  • 2014 - Established Phol Water Co.,Ltd. to expand Water Solution Business
  • 2013 - Established Phol Palladium Co.,Ltd. to expand government and public utilities sector
  • 2010 - Registered to the Market for Alternative Investments (mai) on 9 December 2010
  • 2009 - Expanded to Water Solution Business
  • 1978 - Started Business as Distributor for Occupational Safety, Health, and Environment Products
Business Plan
  • Support financial growth by targeting no less than 10 – 15% growth in revenue from sales and services across the company’s three core businesses compared to the previous year and through management of capital and expenditures as planned.
  •  In terms of market and customer development, enhance satisfaction to expand within the industrial and state agency customer bases, and develop distribution channels for the consumer market, as well as create a house brand and a corporate brand that will generate greater awareness.
  • Improving internal operations, develop IT systems to enhance the efficacy of operations and supply chain and stock management. Improve customer relations systems and upgrade online communication channels.
  • Develop personnel potential and capacities to enhance competitiveness; foster skills and a culture conducive to company strategies.
Sustainable Development Plan

The company’s sustainability framework can be divided into 3parts:

  • Safer Living – Take part in building safety and good health for people both within and outside of the company.
  • Operation Efficiency – Continually develop for greater operational efficiency and service towards business growth that is steady and sustainable.
  • Minimize Environmental Footprint – Manage pollution caused by operations, effectively use natural resources, be involved in environmental care.


Risk Management Policy
  • Risk Management Policy Risks from the Loss of Distribution Rights for Key Brands – As a distributor for manufacturers, the loss of a major brand would pose impact on the company’s sales figures. The company develops and enhances its distribution channels to meet the needs of all target customers and maintains an image as a professional distributor of occupational safety, health and environment products for the confidence of its brands. It has also developed a house brand to mitigate risk from the loss of distribution rights.
  • Risks from Purchasing and Stock Management Systems – Handling over 3,000 products, the company faces risks from shortages as well as excess stock. For the effective management of its entire supply chain, the company utilizes an Enterprise Resource Planning (ERP) system and Material Requirements Planning (MRP) system.
Recent Awards and Recognitions
  • “Excellent” CG Score 2012-2013 and for eighth consecutive years from 2015-2022
  • Placed on the 2020-2022 ESG100 for third consecutive year
  • Certified as a member of CAC on 14 October 2016 and Re(2)Certification on 4 July 2022 
  • Placed on the 2019-2021 Thailand Sustainability Investment (THSI) index among mai companies
  • Board of the Year Awards 2013 และ 2015
  • SET AWARDS 2014 SET Award of Honor in Corporate Governance Report
  • SET AWARDS 2012 and 2013 in Top Corporate Governance Report
Revenue Structure
SAFETY Products 74.56% CE Products 22.07% WATER Products 3.37%
Stock Information
mai / SERVICE
Closing price PHOL mai index 5.00 3.50 2.00 705.00 632.67 560.33 488.00 1-10-21 4-1-22 30-3-22 4-7-22 30-9-22
as of 30/09/22 PHOL SERVICE mai
P/E (X) 10.19 37.99 58.56
P/BV (X) 1.90 3.70 3.35
Dividend yield (%) 9.88 1.23 1.09
30/09/22 30/12/21 30/12/20
Market Cap (MB) 656.10 830.25 575.10
Price (B/Share) 3.24 4.10 2.84
P/E (X) 10.19 10.14 7.58
P/BV (X) 1.90 2.47 1.82
CG Report:
Major Shareholders
as of 25/08/2022
MR. APICHART JARUTANGTRONG (10.94%)
MRS. NAOWARAT WANGTHAMRONG (9.69%)
MR.THANYA WANGTHAMRONG (7.48%)
MR.CHAVALIT WANGTHAMRONG (7.33%)
MISS THANTHIDA WANGTHAMRONG HELBARDT (6.76%)
Others (57.80%)
Company Information and Contact
http://www.pdgth.com
ir@pdgth.com
0-2791-0111
1/11 Moo 3, Lumlookka Rd., Ladsawai, Lumlookka Pathum Thani 12150
Other Trading Info. : https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=PHOL
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Published on 22/11/2022