Business Overview
- HL operates as an investment holding company (Holding Company), currently investing in pharmacy businesses, distributing medicines, medical supplies, cosmeceuticals, dietary supplements, medical devices, and various health products, as well as businesses involving research and development in collaboration with external research teams, and contracting manufacturers to distribute health products and innovations.
Financial Statement
| 3M26 | 3M25 | 2025 | 2024 |
|---|
Income Statement (MB)
| Revenues | 594.63 | 578.57 | 2,269.92 | 2,017.89 |
| Expenses | 567.94 | 550.62 | 2,159.35 | 1,916.05 |
| Net Profit (Loss) | 18.54 | 20.46 | 77.86 | 78.26 |
Balance Sheet (MB)
| Assets | 1,562.62 | 1,551.78 | 1,535.91 | 1,499.06 |
| Liabilities | 613.05 | 525.50 | 568.31 | 493.23 |
| Shareholders' Equity | 949.57 | 1,026.28 | 967.60 | 1,005.82 |
Cash Flow (MB)
| Operating | 35.04 | 47.01 | 193.24 | 88.76 |
| Investing | 20.29 | -46.66 | -157.02 | -171.89 |
| Financing | -53.11 | -12.54 | -167.46 | -83.01 |
Financial Ratio
| EPS (Baht) | 0.07 | 0.08 | 0.29 | 0.29 |
| GP Margin (%) | 23.75 | 23.16 | 24.34 | 23.51 |
| NP Margin (%) | 3.12 | 3.54 | 3.43 | 3.88 |
| D/E Ratio (x) | 0.65 | 0.51 | 0.59 | 0.49 |
| ROE (%) | 7.69 | 7.96 | 7.89 | 7.93 |
| ROA (%) | 7.01 | 7.10 | 7.28 | 7.08 |
Business Plan
- The Group aims for a 15% revenue growth from product sales in 2026 and has continuous branch expansion plans, focusing on Bangkok and its vicinity, with a plan to open 14 branches in 2026.
- The Group plans to add new innovative products under its own brand, including dietary supplements with enhanced bioavailability (Bioavailability Enhancer), skincare products, and herbal remedies to reduce viral accumulation, and expand distribution channels outside the company's network.
Sustainable Development Plan
- Environmental Dimension The company campaigned for all employees to correctly sort waste to mitigate global warming and collect statistics to measure progress, in accordance with SET policy in 2025.
- The company promotes environmental conservation by reducing plastic and paper usage through ERP implementation and piloting the e-Tax system with partners since 2024.
- Social Dimension The company values strong communities and sustainable development by supporting activities related to public health, education, and Buddhism.
- The company organized the “Raising Healthy and Safe Children” seminar in collaboration with the Singapore International School in 2025 to educate parents, help reduce disease transmission in schools, and promote sustainable family health.
- Supported the “40 Years of Osotsala: From a Quality Pharmacy to a Center for Thai People’s Health Concerns” The company showcased its products at the event,and expanding access to health knowledge and healthcare services for the community.
- Economic Dimension The company delivers quality products and services that meet customer expectations at fair prices.
Business Highlight
- HL invests in the pharmaceutical retail business and a business focused on research and development in collaboration with external research teams to distribute innovative health products. It owns 3 pharmacy brands with 72 branches in Bangkok and its vicinity. It also has 3 innovative product brands: “Prime” in the dietary supplement category, “Besuto” which is a hygiene and health care product, and “Q”, a health product derived from herbal innovation.
Performance and Analysis
Business Performance Summary
- For the first quarter of 2026, the Group reported total sales revenue of 585.13 million Baht, an increase of 2.69% compared to the same period of the previous year. The primary revenue source continued to be retail sales, accounting for 99.17% of total revenue. Revenue from product sales, categorized by product group, grew by 15.33 million Baht or 2.69% compared to the same period of the previous year, primarily driven by the pharmaceutical and dietary supplement product group, which saw a growth rate of 7.86%. The Group's gross profit increased by 5.33% compared to the same period of the previous year, resulting in a gross profit margin of 23.75%, higher than 23.16% in the first quarter of 2025.
Key Milestones
- As of March 31, 2026, the Group had a total of 72 pharmacies, with 2 new branches opened in Q1 2026.
- In Q1 2026, Healthiness Co., Ltd. (a subsidiary) launched two new dietary supplement products under the Prime brand, namely (1) "Mg Nite Prime Brand," (2) "ASTA-NZ Complex Prime Brand.
- The Board of Directors' Meeting No. 3/2026 passed a resolution for treasury stock program for financial management purpose in the amount not exceeding THB 42 MN. The number of ordinary shares to be repurchased is not exceeding 6,000,000 shares at a par value of 0.50 Baht per share, representing not more than 2.21% of the Company's total issued and paid-up shares of 272,000,000 shares. The Company will conduct the share repurchase through the Stock Exchange of Thailand, with a repurchase period from May 15, 2026, to November 13, 2026.
Risk Management Policy
- The Group has maintained over 30 years of partnerships with two major manufacturers and distributors while continuously expanding procurement channels to ensure sufficient product supply.
- Competitive risks, the Group focuses on establishing branches in highly accessible locations within Bangkok and ensuring the presence of pharmacists at every branch, thereby assuring customers of high-quality service.
- 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 for Innovation: Prime MOVX2 - 2022 Japan Design, Idea & Invention Expo; July 1-3, 2022
- Gold Medal Award for Innovation: Prime KIN - 2024 Japan Design, Idea & Invention Expo; July 5-7, 2024
- Gold Medal Award, Innovation and Invention: Prime Bioenhancz - 2024 PRIX EIFFEL, Idea & Invention Expo; November 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: Q Herbal Mouth Spray – 2024 PRIX EIFFEL Idea & Invention Expo (Nov 12–13, 2024)
Revenue Structure
Stock Information
mai / SERVICE
| as of 31/03/26 | HL | SERVICE | mai |
|---|---|---|---|
| P/E (X) | 20.27 | 36.12 | 398.41 |
| P/BV (X) | 1.63 | 1.39 | 1.12 |
| Dividend yield (%) | 3.59 | 3.53 | 3.69 |
| 31/03/26 | 30/12/25 | 30/12/24 | |
|---|---|---|---|
| Market Cap (MB) | 1,672.80 | 1,958.40 | 2,774.40 |
| Price (B/Share) | 6.15 | 7.20 | 10.20 |
| P/E (X) | 20.27 | 23.22 | 36.14 |
| P/BV (X) | 1.63 | 1.94 | 2.85 |
CG Report:
-
Company Rating:
Major Shareholders
as of 12/03/2026
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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