Business Overview
- Manufacturing and distributing of plastic industrial products and melamine household products.
- Moulds and other businesses : manufacturing moulds and sourcing local and overseas products for sale and distribution.
Financial Statement
| 9M25 | 9M24 | 2024 | 2023 |
|---|
Income Statement (MB)
| Revenues | 5,433.65 | 6,150.00 | 8,171.76 | 8,702.47 |
| Expenses | 5,233.31 | 5,800.92 | 7,745.23 | 8,212.14 |
| Net Profit (Loss) | 146.83 | 269.12 | 284.97 | 372.42 |
Balance Sheet (MB)
| Assets | 6,774.36 | 7,191.33 | 7,190.39 | 7,561.65 |
| Liabilities | 2,447.43 | 2,719.87 | 2,721.02 | 3,032.93 |
| Shareholders' Equity | 4,088.05 | 4,226.76 | 4,226.88 | 4,278.85 |
Cash Flow (MB)
| Operating | 582.31 | 756.28 | 949.63 | 950.79 |
| Investing | -207.73 | -271.26 | -371.72 | -198.47 |
| Financing | -482.04 | -599.28 | -506.49 | -633.41 |
Financial Ratio
| EPS (Baht) | 0.06 | 0.10 | 0.11 | 0.14 |
| GP Margin (%) | 13.69 | 14.54 | 14.50 | 14.10 |
| NP Margin (%) | 2.72 | 4.35 | 3.44 | 4.32 |
| D/E Ratio (x) | 0.57 | 0.61 | 0.61 | 0.67 |
| ROE (%) | 3.91 | 8.80 | 6.70 | 8.86 |
| ROA (%) | 4.31 | 6.60 | 5.93 | 6.53 |
Business Plan
- A leader in the production and delivery of valued industrial plastic products, food and beverage packaging products and melamine household products, ensuring compliance with high-quality standards and environmental friendliness. The Company is recognized as a trusted partner in the supply chain of all forms of plastic cycles.
- Driving sustainable growth through the expansion of existing business operations and strategic business partnerships including M&A in Thailand and Vietnam, guided by ESG principles.
Sustainable Development Plan
SITHAI is committed to conducting business in alignment with sustainable development principles, taking the impacts on all stakeholders into consideration throughout the value chain. Our approach encompasses economic, social, and environmental dimensions, ensuring a balance between corporate growth and social responsibility. This commitment aligns with the Company’s vision and mission and is implemented through internationally recognized standards and operational frameworks, Circular Economy principles, and “3 Saves” approach of the Company: Save Material, Save Energy, Save the World. The Company’s key sustainability initiatives include:
- Expanded the installation of solar rooftops to increase the proportion of renewable energy usage and reduce reliance on fossil fuels and lower energy costs.
- Obtained carbon footprint organization (CFO) certification and applied for product carbon footprint (CFP) certification.
- Promoted the use of recycled plastic and PCR pellets and the development of lightweight products to minimize raw material consumption.
Dividend Information
https://investor.srithaisuperware.com/en/shareholder-information/dividend-information
Business Highlight
- The Group has implemented proactive marketing strategies across all business units, leveraging digital technology and artificial intelligence (AI) to enhance operational efficiency, reduce costs, and strengthen its long-term competitiveness.
- It has built a strong and specialized network of partners across the supply chain to jointly develop raw materials and production technologies, delivering innovative, high-quality, and environmentally friendly products.
- The Group has expanded its food and beverage packaging business by investing further in machinery and moulds.
- It has maintained a solid financial structure with effective liquidity management and a low debt burden, enhancing business resilience and stability. Supported by trusted financial institutions, the Group is well-positioned to pursue growth amid global economic volatility, as well as evolving social and consumer behavior trends.
Performance and Analysis
Business Performance Summary
- Total sales revenue of THB 5,379 million for 9M/2025, a decrease of THB 695 million or 11.4% from the previous year, due to an overall decline across all major product segments in both domestic and overseas operations, driven by the global economic slowdown, uncertainty in reciprocal tariffs, geopolitical tensions, household debt affecting consumer spending as well as the appreciation of the Thai Baht despite the decline in key raw materials prices.
- Gross profit margin decreased to 13.7% down from 14.5% YoY and net profit margin of 2.8% down from 4.4% YoY, in line with the decrease in sales volume, underutilization of production capacity, high fixed costs and expenses, as well as the impact from the increase in minimum wages in domestic operations.
Key Milestones
- Improved production efficiency, reduced energy consumption and green-house gas emission, and the development of innovative, eco-friendly plastic and packaging solutions to meet sustainability goals.
- Adopted new machines and moulds with new technology.
- Possessed strong financial position to support increased competitiveness, business expansion plans, and production capacity growth.
Risk Management Policy
SITHAI has established an enterprise risk management process in accordance with international best practices in alignment with the Company’s business goals to ensure proper and effective risk management. The Company conducts an annual review and assessment of enterprise risks, covering both current risks and potential future risks arising from internal and external factors. This ensures the implementation of adequate and comprehensive risk mitigation measures, allowing the Company to manage risks and their impacts at an acceptable and appropriate level.
Recent Awards and Recognitions
- Certified for its Carbon Footprint of Organization (CFO) by TGO for its Suksawat factory, marking the fifth consecutive year of certification.
- Selected as one of the ESG100 companies for the year 2025 by Thaipat Institute for the fourth year.
- Received a 5-star rating on the corporate governance assessment (CGR), 10th consecutive year of being “Excellent”.
- Achieved a full score of 100 points on the AGM assessment “AGM Checklist” for the year 2025 from the Thai Investors’ Association.
Revenue Structure
Stock Information
SET / INDUS / PKG
| as of 30/09/25 | SITHAI | PKG | SET |
|---|---|---|---|
| P/E (X) | 16.74 | 22.87 | 16.67 |
| P/BV (X) | 0.68 | 0.91 | 1.21 |
| Dividend yield (%) | 5.81 | 3.71 | 3.67 |
| 30/09/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 2,794.96 | 3,306.08 | 3,089.29 |
| Price (B/Share) | 1.06 | 1.22 | 1.14 |
| P/E (X) | 16.74 | 8.58 | 9.54 |
| P/BV (X) | 0.68 | 0.76 | 0.72 |
CG Report:
Major Shareholders
as of 26/08/2025
Company Information and Contact
http://www.srithaisuperware.com
company_secretary@srithaisuperware.com
0-2427-0088
15 Suksawat Road, Soi 36, Bangpakok, Rasburana Bangkok 10140
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=SITHAI
Remarks: This document is prepared by the listed company and aimed to disseminate the listed company’s information to investors for only investment decision support. The listed company does not give investment advice or recommendation regarding the listed company’s securities. Before making investment decisions, investors should study additional information and seek advice from relevant professionals. In no event shall the listed company be responsible for any loss or damage arising from the use of the information contained herein. The listed company reserves the right to amend the content specified in this document without prior notice. Unless otherwise permitted by the listed company, copy, modification, or dissemination of this document or the content contained herein is prohibited. In case there is any questions regarding the listed company’s information, the investors may seek for additional information from the report or information which the listed company has disclosed through the Office of the Securities and Exchange Commission’s and/or the Stock Exchange of Thailand’s channel.
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