MC : MC GROUP PUBLIC COMPANY LIMITED
9M/2025 (Jul 2024 - Mar 2025)
Business Overview

Mc Group is a leading Thai fashion and lifestyle company, with over 50 years of expertise in apparel and retail distribution under "Mc Jeans" brand. The company operates an integrated business model, covering design, manufacturing, and retail. It has a strong distribution through its own stores, modern trade channels, and online platforms to meet diverse customer needs.

Financial Statement
9M25 9M24 2024 2023
Income Statement (MB)
Revenues 3,287.01 3,211.56 4,107.14 3,691.84
Expenses 2,507.39 2,472.10 3,181.85 2,877.62
Net Profit (Loss) 625.66 576.73 713.16 643.63
Balance Sheet (MB)
Assets 5,431.46 5,479.45 5,569.01 5,371.39
Liabilities 1,825.99 1,866.86 1,828.13 1,649.94
Shareholders' Equity 3,604.71 3,610.56 3,740.12 3,719.00
Cash Flow (MB)
Operating 848.44 968.65 936.77 739.92
Investing -29.03 -85.06 -105.18 -464.19
Financing -895.02 -826.91 -881.99 -749.47
Financial Ratio
EPS (Baht) 0.79 0.73 0.90 0.81
GP Margin (%) 64.35 64.13 64.21 64.83
NP Margin (%) 19.03 17.96 17.36 17.43
D/E Ratio (x) 0.51 0.52 0.49 0.44
ROE (%) 21.12 19.25 19.12 17.43
ROA (%) 17.70 16.67 16.89 15.56
Business Plan

Mc Group's business plan focuses on fostering stable and sustainable growth by leveraging its expertise and leadership in Thailand's jeans market, as well as its understanding of the physique and needs of customers. The Company prioritizes on developing high-quality products at reasonable prices, coupled with excellent customer service. Additionally, it has expanded its product portfolio to include a variety of items such as clothing, shoes, and bags, while also extending its distribution channels both offline and online to reach a wider customer base. This includes expanding the customer base through online channels and collaborations with influencers on social media to increase brand awareness and enhance customer experience.

Moreover, the company continues to focus on efficient internal management, from sourcing materials, and production to distribution. It utilizes data and innovations to meet rapid changing market demands. The company also aims to expand its distribution both domestic and international to enhance long-term growth.

Sustainable Development Plan

Mc Group commit to embedding sustainability into its core operations by balancing "Profit, People, and Planet". Its sustainable development plan includes reducing environmental impact of production processes, ensuring supply chain transparency and fair labor practices. The Company adheres to international standards (ISO9001 and ISO27001). Mc Group aims to reduce carbon footprint through energy-saving initiatives, sustainable materials, and waste management. The Company also emphasize on human rights and social responsibility, focusing on employee welfare, and community development to respond the needs of stakeholders along the supply chain to create sustainable value and returns.

The Company initiates Solar Rooftop projects at its headquarter, warehouse, and Mc Outlet to promote clean energy and reduce electricity costs. Also, Mc Group launches "No Bag Campaign" to discontinue plastic bags , effective from February 10, 2025.

Business Highlight
  • Mc Group is one of Thailand's leading apparel brand, widely recognized under "Mc Jeans" brand
  • Known for its high-quality products extensive variety, and coverage cater to consumers of all genders and ages.
  • Strong retail presence with over 500 stores nationwide and strategic partnerships with key retail players.
  • Expanding e-commerce platform with rapid growth in online sales reflecting consumer preferences.
  • Strong financial position and effective cost management enables resilience against economic fluctuations.
Performance and Analysis
Business Performance Summary

Nine Months / Fiscal Year 2025

Revenue: The Company had total revenue of THB 3,245 million, an increase of 2.1% from the same period last year due to the continued growth of online channels and the improved performance of offline channels in the second and third quarters.

Cost of Sales: Gross profit stood at THB 2,088 million, with a gross profit margin of 64.3%, up from 64.1% in the same period last year, driven by effective sales channel management and promotional strategies.

Selling and Administrative Expenses: SG&A expenses amounted to THB 1,350 million, representing 41.6% of sales, a decrease from 41.9% in the previous year due to the increased sales.

Net Profit: The Company reported a net profit of THB 626 million, an increase of 8.5%, with a net profit margin of 19.0%, up from 17.9% in the previous year.

Key Milestones
  • Launched “Year of Snake” collection, featuring auspicious symbols, conveying prosperity and happiness throughout 2025
  • Launched “Mc Gold Selvedge”, under "Live Like a Tiger" concept, featuring tiger-inspired designs symbolizing power, courage, and strength, presented by Ananda Everingham. This collection is part of the "My Mc My Way" campaign.
  • Introduced “Mc X’mas Series” to celebrate year-end festive.
Risk Management Policy

The Company has developed and implemented an Enterprise Risk Management (ERM) Policy and operates according to this policy, covering both the organizational and operational levels to manage risk to an acceptable level. The Company has adopted the international standards of COSO ERM 2017: Enterprise Risk Management - Integrating with Strategy and Performance. For Business Risk Management, the company considers key issues in various aspects comprehensively, in accordance with risk management guidelines, including strategic risks, operational risks, financial risks, compliance risks, and emerging risks.

Recent Awards and Recognitions
  1. Received "Master Entrepreneur Award" in the Retail Industry for the second time at APEA 2024, reaffirming its position as a leading and sustainably growing retail business in the region
  2. Received the SET ESG Ratings of “AAA” for the year 2024 from the Stock Exchange of Thailand.
  3. Achieved the "Excellent" level or 5 stars Corporate Governance Report (CGR) for six consecutive years (2019-2024) from IOD.
  4. The Company received a full 100 score in quality assessment of AGM Checklist 2024 by the Thai Investors Association
  5. Continuously certified as a member of the Thai Private Sector Anti-Corruption Coalition (CAC Certification) since 2019.
  6. Awarded the Sustainability Disclosure Acknowledgement for 2021-2024 by the Thai Institute of Directors.
  7. “Outstanding Disabled Support" award for sustainable organization in Thai Capital Market in 2022 from the SEC.
Revenue Structure
Denim 32.8% Non-Denim 48.7% Accessories 18.5%
Stock Information
SET / SERVICE / COMM
Closing price MC SET index 14.00 11.00 8.00 1529.00 1371.67 1214.33 1057.00 1-4-24 8-7-24 3-10-24 3-1-25 31-3-25
as of 31/03/25 MC COMM SET
P/E (X) 10.73 19.85 15.78
P/BV (X) 2.05 1.54 1.10
Dividend yield (%) 9.00 2.89 4.37
31/03/25 28/06/24 30/06/23
Market Cap (MB) 7,920.00 8,395.20 9,900.00
Price (B/Share) 10.00 10.60 12.50
P/E (X) 10.73 12.08 15.30
P/BV (X) 2.05 2.33 2.74
CG Report:
Company Rating:
"AAA" SET ESG Ratings
Major Shareholders
as of 28/02/2025
น.ส. สุณี เสรีภาณุ (46.06%)
นาย พีรนาถ โชควัฒนา (3.10%)
Thai NVDR Company Limited (2.90%)
บริษัท PEOPLE S GARMENT PUBLIC COMPANY LIMITED (2.14%)
นาย วิรัช เสรีภาณุ (1.89%)
Others (43.91%)
Company Information and Contact
http://www.mcgroupnet.com
corpsecretary@mcgroupnet.com
0-2329-1051-6
448, 450 Onnut road Prawet Bangkok 10250
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