The company and its subsidiaries operate businesses in the production and distribution of sugar and molasses, and downstream industries related to sugar production byproducts, including power generation, ethanol, and organic fertilizer businesses.
| 6M25 | 6M24 | 2024 | 2023 |
|---|
| Revenues | 7,495.92 | 7,697.88 | 16,777.07 | 18,695.46 |
| Expenses | 6,899.24 | 6,406.95 | 15,197.83 | 17,297.33 |
| Net Profit (Loss) | 267.16 | 837.97 | 917.84 | 903.59 |
| Assets | 51,471.03 | 47,730.66 | 43,568.19 | 39,798.43 |
| Liabilities | 29,325.85 | 25,685.61 | 21,402.10 | 18,221.63 |
| Shareholders' Equity | 21,652.00 | 21,548.19 | 21,674.20 | 21,094.25 |
| Operating | -4,029.76 | -4,835.67 | 1,126.72 | 2,908.25 |
| Investing | -783.48 | -1,536.68 | -4,109.11 | -454.74 |
| Financing | 4,931.49 | 6,292.31 | 2,979.40 | -2,500.48 |
| EPS (Baht) | 0.06 | 0.19 | 0.21 | 0.20 |
| GP Margin (%) | 15.22 | 22.56 | 16.67 | 14.19 |
| NP Margin (%) | 3.58 | 11.08 | 5.53 | 4.92 |
| D/E Ratio (x) | 1.32 | 1.17 | 0.97 | 0.84 |
| ROE (%) | 1.61 | 3.73 | 4.29 | 4.30 |
| ROA (%) | 2.02 | 3.32 | 4.06 | 3.79 |
Currently, the sugar factory and biomass power plant in Wattananakorn District, Sa Kaeo Province, have been completed and commenced crushing in the 2024/2025 production season. With a production capacity of 20,000 tons/day, it is expected to increase the market share in the business.
“Creating Sustainable Happiness” is KSL's business objective, guided by the Sufficiency Economy Philosophy of His Majesty King Rama IX, along with the application of the Bio-Circular-Green Economy Model (BCG Model), which emphasizes conducting business while maintaining environmental balance. KSL also adheres to good governance principles to enhance the quality of life for all stakeholders, ensuring their sustainable growth alongside the organization, in accordance with the Sustainable Development Goals (SDGs). This is achieved under the ESG framework, focusing on value creation in three dimensions: Environment, Social, and Governance.
Khon Kaen Sugar Industry Public Company Limited (KSL) aims to achieve carbon neutrality by 2045 and net-zero greenhouse gas emissions by 2060 by designing and developing production processes to improve the efficiency of raw material, resource, and energy utilization for maximum benefit.
KSL Group has been selected as one of the 10 pilot factories to sign a Memorandum of Understanding (MOU) with the Office of the Cane and Sugar Board (OCSB) for the "Monitoring and Preventing Sugarcane Burning" project. This project utilizes unmanned aerial vehicle (drone) technology to collect image data confirming traces of burning in cultivated areas where hotspots have been detected via satellite imagery. Combined with the use of artificial intelligence, this promotes the delivery of fresh sugarcane to factories, contributing to the sustainability of the Thai sugar industry.
The company and its subsidiaries reported a net profit of 267 million baht for the six-month period of 2025, a decrease of 68% compared to the same period of the previous year. This resulted from a 10% increase in sugar sales volume, while the average selling price of sugar decreased by 11% due to the decline in global sugar prices, leading to a decrease in gross profit margin from 23% to 15%. Distribution costs increased by 68% due to the increased volume of exported sugar, resulting in a decrease in operating profit.
In 2025, the company expanded its market by creating the Kane’s brand, which developed a special product: Low GI (Low Glycemic Index Sugar). This sugar maintains blood sugar levels, preventing rapid increases. Low GI sugar is suitable for consumers who want to control their blood sugar levels. Currently, the company sells Low GI sugar under the Kane’s brand through various retail channels, such as Shopee, Lazada, and leading supermarkets.
The company recognizes the importance of risk management under changes from both internal and external factors that may affect the business. The company has therefore adopted the international standard risk management approach (COSO - ERM 2017) and applied it as a guideline for enterprise risk management. This is to prevent and mitigate the impact of various risks that may prevent the organization from achieving its objectives and to assure stakeholders that the company can operate under a rapidly changing environment in a timely manner. The Board of Directors, management, and employees at all levels participate in implementing the standardized risk management system in conjunction with the strategic planning process and sustainable business development with environmental, social, and governance (ESG) considerations. The company also has a system in place to monitor and review the performance of the risk management plan, along with monitoring new risks that may arise in the future and minimizing the chance of losses to an acceptable level.
- Received a score of 100 on the 2024 Annual General Meeting (AGM) Checklist for the 5th consecutive year and achieved an Excellent rating in corporate governance for the 7th consecutive year.
- Received the Sustainability Disclosure Recognition Award for the 6th consecutive year in 2024.
- Member of the Thai Private Sector Collective Action Against Corruption (CAC) for the 3rd term.
- Received the Green Industry Award Level 4: Green Culture from the Ministry of Industry.
- White sugar and refined sugar received the Carbon Footprint Reduction Label.
- Received the outstanding award "Role Model Organization for Sustainability in the Thai Capital Market: Supporting People with Disabilities".
| as of 30/04/25 | KSL | FOOD | SET |
|---|---|---|---|
| P/E (X) | 12.78 | 13.06 | 16.42 |
| P/BV (X) | 0.31 | 1.33 | 1.12 |
| Dividend yield (%) | 3.29 | 4.59 | 4.01 |
| 30/04/25 | 31/10/24 | 31/10/23 | |
|---|---|---|---|
| Market Cap (MB) | 6,703.55 | 8,996.87 | 12,613.27 |
| Price (B/Share) | 1.52 | 2.04 | 2.86 |
| P/E (X) | 12.78 | 7.91 | 14.90 |
| P/BV (X) | 0.31 | 0.41 | 0.60 |
