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
| 9M24 | 9M23 | 2023 | 2022 |
|---|
| Revenues | 16,014.01 | 13,601.41 | 18,914.53 | 12,275.32 |
| Expenses | 8,607.47 | 7,100.04 | 10,045.03 | 5,520.68 |
| Net Profit (Loss) | 3,826.79 | 3,734.06 | 5,000.80 | 4,476.16 |
| Assets | 109,604.18 | 110,805.90 | 111,464.66 | 69,481.89 |
| Liabilities | 74,629.84 | 80,759.72 | 80,268.03 | 40,477.32 |
| Shareholders' Equity | 31,881.76 | 26,946.72 | 28,177.00 | 25,662.30 |
| Operating | 5,063.45 | -18,287.62 | -20,384.69 | -16,610.32 |
| Investing | -100.09 | -1,112.00 | -1,283.03 | 3,359.83 |
| Financing | -5,229.12 | 23,732.83 | 22,832.25 | 13,423.22 |
| EPS (Baht) | 2.53 | 2.72 | 3.64 | 3.26 |
| GP Margin (%) | ||||
| NP Margin (%) | 24.76 | 29.17 | 27.78 | 39.32 |
| D/E Ratio (x) | 2.13 | 2.69 | 2.57 | 1.40 |
| ROE (%) | 17.32 | 19.24 | 18.58 | 17.78 |
| ROA (%) | 8.87 | 9.63 | 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.
For the three-month period ended 30 September 2024, the Company and its subsidiaries reported a consolidated net profit totaling 1,366 million Baht, compared to the net profit after deducting extraordinary item of 1,200 million Baht in the same quarter of the previous year. This represents an increase in net profit of 166 million Baht. However, compared to the net profit before deducting extraordinary item, there is a decrease in net profit of 58 million Baht, or 4.07%.
Total assets amounted to 109,604 million Baht, compared to 111,465 million Baht at the end of 2023, a decrease of 1,860 million Baht or approximately 1.67%. The primary reason for this decline is a reduction in the loan portfolio due to the company's stricter credit issuance practices, in line with management's policy to focus on issuing high-quality loans.
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. Recently, the Company has achieved the CG scores of 'Excellent" level for the
the year 2024 jointly held by The Stock Exchange of Thailand, and
Thai IOD.
| as of 30/09/24 | SAWAD | FIN | SET |
|---|---|---|---|
| P/E (X) | 12.61 | 16.95 | 18.03 |
| P/BV (X) | 2.13 | 1.53 | 1.37 |
| Dividend yield (%) | 0.02 | 1.96 | 3.16 |
| 30/09/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 65,327.58 | 55,612.67 | 66,941.18 |
| Price (B/Share) | 43.25 | 40.50 | 48.75 |
| P/E (X) | 12.61 | 11.24 | 15.19 |
| P/BV (X) | 2.13 | 2.06 | 2.74 |
