The Company provides loan services to retail customers under the brand "Srisawad Ngern Sod Tun Jai". Business operation of the Company can be classified into 5 main categories:
1) Secured loan against all types of used vehicle, home, and land
2) Unsecured personal loan
3) Asset management
4) Debt collection service
5) Insurance Brokerage Services
| 3M24 | 3M23 | 2023 | 2022 |
|---|
| Revenues | 5,412.56 | 3,959.85 | 18,914.53 | 12,275.32 |
| Expenses | 2,977.70 | 1,985.97 | 10,045.03 | 5,520.68 |
| Net Profit (Loss) | 1,261.10 | 1,200.42 | 5,000.80 | 4,476.16 |
| Assets | 114,613.42 | 78,914.65 | 111,464.66 | 69,481.89 |
| Liabilities | 82,122.53 | 48,839.16 | 80,268.03 | 40,477.32 |
| Shareholders' Equity | 29,468.46 | 26,868.47 | 28,177.00 | 25,662.30 |
| Operating | -384.76 | -7,716.88 | -20,384.69 | -16,610.32 |
| Investing | -70.19 | -42.17 | -1,283.03 | 3,359.83 |
| Financing | 1,944.06 | 7,504.60 | 22,832.25 | 13,423.22 |
| EPS (Baht) | 0.92 | 0.87 | 3.64 | 3.26 |
| GP Margin (%) | ||||
| NP Margin (%) | 23.61 | 33.36 | 27.78 | 39.32 |
| D/E Ratio (x) | 2.53 | 1.62 | 2.57 | 1.40 |
| ROE (%) | 17.97 | 17.69 | 18.58 | 17.78 |
| ROA (%) | 9.65 | 11.16 | 9.83 | 11.36 |
The Company would like to expand financial services covering all sub-districts across Thailand and also expanding financial services to ASEAN with more new choices of financial products to match particular economic conditions and demand for financing in each country, under cautious risk assessment; and to expand NPL management services as well as debt collection services.
Committed to sustainable organizational development, the Company prioritizes conducting its business by earnestly creating the utmost benefit for all stakeholders, considering the balance of environmental, social, and governance (ESG) aspects alongside achieving its business goals. The Company has been selected as a sustainable stock for 2 consecutive years. Given the global environmental impacts due to climate change, the company has taken a stance to drive towards a sustainable future by committing to achieving net-zero greenhouse gas emissions by the year 2593 (2050 AD) as part of its goal to conduct business responsibly towards the environment, society, and governance. This is under the concept of "loans for sustainability," coupled with the importance of creating financial accessibility along with providing knowledge on good financial discipline.
In the overall economic situation, the Company has observed an increasing demand for microlending products among Thai people, as evidenced by the growing number of individuals contacting our branches to request loans. This year, the Company has adopted a policy to focus on expanding its core business, specifically car-for-cash loans. Alongside the expansion of the loan portfolio, the Company is also prioritizing the reduction of portfolio risk, particularly in hire-purchase loans. This is being achieved by implementing more stringent credit extension criteria, such as reducing the loan-to-value ratio.
The Statement of Financial Position as of 31 March 2024, showed growth compared to the same quarter of the previous year, due to on 30 June 2023, the Company acquired 49% of the share capital of Fast Money Company Limited from the Government Savings Bank, following the resolution of the Extraordinary General Meeting of Shareholders No. 1/2023. Consequently, the Company's consolidated financial statements for Q2/2023 included the financial statements of Fast Money Company Limited, a subsidiary of the Company, as detailed below.
Statement of Financial Position: The Company has incorporated the assets, liabilities, and equity of Fast Money Company Limited into its consolidated financial statements. As a result, the Company's net loans to customers increased by 48.54% compared to Q1/2023 and by 1.27% compared to Q4/2023.
For the three-month period ended 31 March 2024, the Company and its subsidiaries reported a consolidated net profit totaling 1,278 million Baht. This represents a decrease in net profit of 43 million Baht, or 3.26%, compared to the net profit of 1,321 million Baht in the same quarter of the previous year.
On 30 June 2023, the Company acquired 49% of the share capital of Fast Money Company Limited from the Government Savings Bank according to the resolution of the Extraordinary General Meeting of Shareholders No. 1/2023. As a result, Fast Money Company Limited became a Company's subsidiary with the shareholding of 98% by SAWAD Group.
SAWAD Group emphasizes the significance of risk management; therefore, the Company arranges business performance evaluation and risk assessment to examine certain risks that may have impact
on the Group’s business operation. The performance evaluation and risk assessment is arranged at least once annually. In light of the risk assessment, the Company’s management analyzes possible risks in different areas before reporting them to the Board of Directors for the board’ s acknowledgement. In addition, the management also provides some suggestions to limit risks or keep
risks under acceptable levels. Should there be any risks that may possibly impede potential achievement of the targeted business goals, the Group needs to seek measures to manage these risks.
SAWAD was selected included in the SET50 index which will be calculated during January 2 - June 30 , 2024.
| as of 29/03/24 | SAWAD | FIN | SET |
|---|---|---|---|
| P/E (X) | 11.60 | 18.42 | 18.10 |
| P/BV (X) | 2.06 | 1.65 | 1.33 |
| Dividend yield (%) | 0.03 | 1.92 | 3.38 |
| 29/03/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 58,015.69 | 55,612.67 | 66,941.18 |
| Price (B/Share) | 42.25 | 40.50 | 48.75 |
| P/E (X) | 11.60 | 11.24 | 15.19 |
| P/BV (X) | 2.06 | 2.06 | 2.74 |
