Business Overview
- HL The company operates as a holding company by investing in other businesses. Currently, it invests in pharmacy retail businesses, which involve the distribution of medicines, medical supplies, cosmeceuticals, dietary supplements, medical devices, and various health products. Additionally, it invests in businesses focused on research and development in collaboration with external research teams, and contracting manufacturers for the distribution of health products and innovations.
Financial Statement
| 2025 | 2024 | 2023 | 2022 |
|---|
Income Statement (MB)
| Revenues | 2,269.92 | 2,017.89 | 1,659.31 | 1,538.21 |
| Expenses | 2,159.35 | 1,916.05 | 1,558.59 | 1,389.82 |
| Net Profit (Loss) | 77.86 | 78.26 | 74.68 | 118.23 |
Balance Sheet (MB)
| Assets | 1,535.91 | 1,499.06 | 1,382.35 | 1,288.19 |
| Liabilities | 568.31 | 493.23 | 414.29 | 346.20 |
| Shareholders' Equity | 967.60 | 1,005.82 | 968.05 | 941.99 |
Cash Flow (MB)
| Operating | 193.24 | 88.76 | 91.26 | 136.20 |
| Investing | -157.02 | -171.89 | 177.28 | -624.51 |
| Financing | -167.46 | -83.01 | -80.08 | -70.34 |
Financial Ratio
| EPS (Baht) | 0.29 | 0.29 | 0.27 | 0.43 |
| GP Margin (%) | 24.34 | 23.51 | 23.06 | 24.76 |
| NP Margin (%) | 3.43 | 3.88 | 4.50 | 7.69 |
| D/E Ratio (x) | 0.59 | 0.49 | 0.43 | 0.37 |
| ROE (%) | 7.89 | 7.93 | 7.82 | 13.08 |
| ROA (%) | 7.28 | 7.08 | 7.50 | 12.33 |
Business Plan
- The Group has continuous plans for branch expansion, focusing on the Bangkok Metropolitan Region and its vicinity, as this area holds high market value. There are plans to open 14 branches by 2026. Furthermore, the Group intends to introduce new innovative product lines under its own brand and expand distribution channels beyond the company's network.
Sustainable Development Plan
- Environmental Dimension: The company encourages all employees to properly sort waste to mitigate global warming and collects statistics to measure development, in line with SET policies in 2025.
- he company promotes environmental conservation by reducing plastic and paper use through ERP implementation and piloting the e-Tax system with partners since 2024.
- Social Dimension: The company recognizes the importance of strong communities and sustainable development, participating in various activities promoting public health, education, and Buddhism.
- The company will organize the seminar “Raising Healthy and Safe Children” to enhance parental knowledge, reduce disease transmission in schools, and sustainably improve the health of Thai families, in collaboration with the Singapore International School in 2025.
- Supported the event "Healthy City @ Krung Thonburi Run Around the City 3rd Edition" in Bang Khun Thian and Chom Thong districts, in collaboration with the Bangkok Metropolitan Administration, Bang Khun Thian Geriatric Hospital, Taksin Hospital, Bang Khun Thian District Office, and Chom Thong District Office, on September 28, 2025.
- Economic Dimension: The company delivers quality products and services that meet customer expectations at fair prices.
Business Highlight
- HL Invests in pharmaceutical retail businesses and R&D businesses in collaboration with external research teams to distribute innovative health products. Owns 3 pharmacy brands with 70 branches in Bangkok and its vicinity, and has 3 innovative product brands: “Prime” for dietary supplements, “Besuto” for hygiene and healthcare products, and “Q” for health products derived from herbal innovations.
Performance and Analysis
Business Performance Summary
- For the year 2025, the Group's total sales revenue was 2,269.92 million Baht, an increase of 12.49% compared to the same period of the previous year. Revenue growth was observed across all product categories compared to the previous year. The external health products category showed the highest growth rate at 18.71%, while pharmaceutical and dietary supplement products grew by 13.27%, and medical devices and household goods grew by 6.41%. Other income amounted to 41.07 million Baht, an increase of 19.55% from the previous year, attributed to the expansion of branches and sales areas. The Group's gross profit margin was 24.34%, an increase from 23.51% in 2024. This improvement resulted from efficient cost management and suppliers focusing on providing trade discounts.
Key Milestones
- The Group has a total of 70 pharmacies. In 2025, the Group opened 7 new branches and closed 1 Vitamin Club pharmacy branch at Central Pinklao during the second quarter of 2025.
- In 2025, Healthiness Co., Ltd. (a subsidiary) launched 13 innovative herbal products under the "Q" brand and dietary supplements under the "Prime" brand, including: (1) "Mouth Spray Q Brand" (2) "Nasal Spray Q Brand" (3) "PRIME PROBIO 14 PLUS 30S" (4) "Brightening Essence Q Brand" (5) "Anti-Hair Loss Intensive Serum Q Brand" (6) "Facial Gentle Foam Q Brand" (7) "Anti-Hair Loss Intensive Shampoo for Woman Q Brand" (8) "Daily Moisture Body Lotion Q Brand" (9) "Anti-Hair Loss Intensive Shampoo for Men Q Brand" (10) "Anti-Hair Loss Intensive Conditioner Q Brand" (11) "Sensitive Skin Shower Gel Q Brand" (12) "Revital Concentrated Face Cream Q Brand" (13) "Sun Protection Film Q Brand"
Risk Management Policy
- Since founding the drugstore 30 years ago, the Group has sourced from two major distributors. The partnership has gone well. However, the Group has regularly reviewed new suppliers to ensure it secures sufficient products.
- In terms of competition risk, the Group focuses on expanding branches to strategic locations in Bangkok and having pharmacists stationed at all branches to guarantee superior quality of services.
- The Group is well recognized among pharmacists through long-standing internship programs with leading universities, helping reduce the risk of pharmacist shortages.
Recent Awards and Recognitions
- Silver Medal, Innovation: Cell Matrix Technology - Prime VISION INVENTION GENEVA EVALUATION DAYS; March 28, 2022
- Gold Medal Award, Innovation: Prime MOVX2 - 2022 Japan Design, Idea & Invention Expo; July 1-3, 2022
- Gold Medal Award, Innovation: Prime KIN - 2024 Japan Design, Idea & Invention Expo; July 5-7, 2024
- Gold Medal Award for Prime Bioenhancz at the 2024 PRIX EIFFEL Idea & Invention Expo; Nov 12, 2024
- Special Award, Prime Bioenhancz Innovation - Innovation Initiative Co-operative Inc. (CANADA); Canadian Special Award and WIIPA Special Award in Paris, France; (Nov 12-13, 2024)
- Silver Medal Award for Q Herbal Mouth Spray at the 2024 PRIX EIFFEL Idea & Invention Expo (Nov 12–13, 2024)
Revenue Structure
Stock Information
mai / SERVICE
| as of 30/12/25 | HL | SERVICE | mai |
|---|---|---|---|
| P/E (X) | 23.22 | 50.59 | 60.23 |
| P/BV (X) | 1.94 | 1.45 | 1.12 |
| Dividend yield (%) | 2.45 | 3.23 | 3.99 |
| 30/12/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 1,958.40 | 2,774.40 | 2,828.80 |
| Price (B/Share) | 7.20 | 10.20 | 10.40 |
| P/E (X) | 23.22 | 36.14 | 35.81 |
| P/BV (X) | 1.94 | 2.85 | 3.02 |
CG Report:
-
Company Rating:
Major Shareholders
as of 17/03/2025
Company Information and Contact
http://www.healthleadgroup.com
ir@healthleadgroup.com
0-2118-0884
99/4, Moo 10, Bang Muang Sub-District, Bang-Yai District Nonthaburi 11140
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=HL
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