We are a manufacturer of a made-to-order transformer and a service provider of transformer installation, maintenance, and testing for both domestic and export market.
| 9M23 | 9M22 | 2022 | 2021 |
|---|
| Revenues | 1,386.43 | 1,273.86 | 1,719.57 | 2,044.43 |
| Expenses | 1,282.64 | 1,360.60 | 1,779.67 | 1,902.63 |
| Net Profit (Loss) | 36.36 | -100.37 | -92.09 | 72.63 |
| Assets | 3,225.95 | 2,801.65 | 2,825.95 | 2,811.23 |
| Liabilities | 2,205.08 | 1,822.73 | 1,839.13 | 1,692.54 |
| Shareholders' Equity | 1,052.44 | 1,007.79 | 1,016.08 | 1,145.12 |
| Operating | -346.31 | -136.48 | -27.36 | 489.23 |
| Investing | -43.67 | -74.80 | -111.46 | -23.39 |
| Financing | 183.81 | 85.46 | 145.66 | -494.30 |
| EPS (Baht) | 0.12 | -0.33 | -0.30 | 0.24 |
| GP Margin (%) | 23.79 | 10.95 | 11.25 | 23.15 |
| NP Margin (%) | 2.46 | -8.07 | -5.52 | 3.40 |
| D/E Ratio (x) | 2.16 | 1.86 | 1.86 | 1.51 |
| ROE (%) | 4.33 | -8.15 | -8.52 | 6.52 |
| ROA (%) | 4.33 | -2.17 | -2.17 | 4.72 |
Under a highly competitive condition, Company and its Subsidiaries estimated a revenue growth around 16% to 20% while trying to maintain the average gross profit margin at around 20%. Due to significant variation in economics, social and environment, the Company is setting up a change from transformer group and non-transformer group model to Power related business and non-Power related business model which including the new business. The time frame is 10 years (2018 – 2028) which can be divided into 3 subperiods: a short-term plan (1 – 3 years), a mid-term plan (3 – 5 years) and a long-term plan (5 – 10 years). Presently, the Company is still operating as a plan but may adjust the plan to conform with the real situation of economics, social and environment especially the COVID-19 epidemic. Recently, the Company launched a new product (Switchgear) to support the urban expansion and the underground electrical wire expansion in major cities.
TRT targets to be a leader in transformer and energy business by driving the organization through the balancing between sustainable development, strengthen the business, good corporate governance, efficiency operation enhancement and value creation for stakeholder. The Company is focusing in 3 factors: economics factor, environment factor and social factor and continuously develop to create the value to all the business value chain through the innovative and sustainable product that meet the need of stakeholder, preserve environment and creating good society. “Tirathai” receives a certificate “Carbon Footprint of the Organization (CFO)” to reduce greenhouse gas emissions for sustainable growth with the idea of transforming the organization into a sustainable business by carrying out all works in accordance with the plan of the Carbon Footprint Reduction Project. To reduce greenhouse gas emissions and show all relevant sectors that they are responsible in terms of economy, society and environment.
The Company strengthen its potential to be the top two manufacturers that can supply the biggest transformer, 333 MVA 525 kV transformer, in Thailand and to provide the one-stop service by using the new technology with high efficiency resource management. Recently, the Company launched a new product (Switchgear) to support the urban expansion and the underground electrical wire expansion in major cities.
The company and its subsidiaries have already reviewed its audited financial statements of the 3rd Quarter 2023 ended on September 30, 2023. The Company and its subsidiaries had net profit attributable to equity holders for the 3nd Quarter 2023 equals to 36.36 million Baht, increased by 136.73 MB. compared to net loss attribute to equity holders of 100.37 MB. of the same period of last year. The sale revenue was 1,244.35 MB. which increased by 113.20 MB. or 10.01% compared to the 3nd Quarter 2022 because of the increasing of transformer revenue on both power and distribution transformer. The service revenue was 126.30 MB. which increased by 16.21 MB. or 14.72% because of the increasing of revenue of derrick crane service and SMA service business. The construction contract revenue were 0.25 MB. which decreased by 21.95 MB. or 98.89% because most of its subsidiary revenue was the transformer construction part. Gross profit margin of sales was 21.75% which was higher than those of last year 8.70% because of delivered higher margin product, especially for the transformer business (The customer is more focusing on the quality of the product factor). Gross profit margin of services was 44.09% which was higher than those of last year 37.52%. The Company’s selling expenses were 47.58 MB. which decreased by 22.80 MB. or 32.40%. The Company’s general administrative expenses were 163.45 MB. which increased by 12.39 MB. or 8.20%. The financial cost was 52.28 MB. which increased by 18.87 MB. or 56.51% compared to previous year due to an increasing of Bank of Thailand’s Policy Interest rate which effect to The Company and its subsidiaries.
The Company is focusing R&D of product, create the innovation to develop its capabilities and aims to use the remote communication control to increase transformer efficiency and value.
Risk management of the Company is systematic and continuous process to reduce the cause of potential damage and should be in the acceptable, estimated, and controlled level. Regarding the rapid change in technology, economics, social and environment, its very challenging to achieve the target operation and performance to build long lasting business sustainability.
2023 CertificateCarbon Footprint for Organization (CFO).
2022 Certified as a member of the Thai Private Sector Collective Action Coalition Against Corruption (CAC). 2022 TRT received the White Flag-Gold Star Award for the Good Governance Project surrounding. 2021 TRT was passed the benchmark test project for virus protection COVID-19 (Public Health). 2021 TRT was certified as a product made in Thailand MIT. 2020 TRT received an award for “Outstanding Industry of the Year2020 in the category Potential Industry” THE PRIME MINISTER’S INDUSTRY AWARD2020.
2018,2019,2020,2021 TRT received the White Flag-Green Star Award for the Good Governance Project surrounding.
2017, 2019 TRT was awarded Green Industry Level 4 Green Culture
2018, 2021 TRT was certified Green Label Transformer. 2016 TRT received the Prime Minister Award in the category of Best Exporter Award. 2010 TRT receive the licenses of TIS 384-2000, TIS 384-2002, TIS 384-2004, TIS 384-2006 and 2009 TRT received the certificate of ISO 9001, ISO 45001, ISO 14001, ISO/IEC 17025.
| as of 29/09/23 | TRT | RESOURC | mai |
|---|---|---|---|
| P/E (X) | - | - | 109.70 |
| P/BV (X) | 0.76 | 0.86 | 2.40 |
| Dividend yield (%) | - | 0.93 | 1.47 |
| 29/09/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 726.90 | 868.58 | 924.02 |
| Price (B/Share) | 2.36 | 2.82 | 3.00 |
| P/E (X) | - | - | 5.88 |
| P/BV (X) | 0.76 | 0.86 | 0.81 |
