Operates as a holding company by investing in other businesses. Currently, it invests in pharmacy businesses, which involve the distribution of medicines, medical supplies, cosmeceuticals, dietary supplements, medical devices, and various health products. Additionally, it engages in businesses focused on research and development in collaboration with external research teams, and contracts manufacturers for the distribution of health products and innovations.
| 6M26 | 6M25 | 2025 | 2024 |
|---|
| Revenues | 1,130.66 | 1,135.90 | 2,269.92 | 2,017.89 |
| Expenses | 1,099.81 | 1,083.70 | 2,159.35 | 1,916.05 |
| Net Profit (Loss) | 18.85 | 37.26 | 77.86 | 78.26 |
| Assets | 1,394.72 | 1,490.51 | 1,535.91 | 1,499.06 |
| Liabilities | 516.54 | 521.73 | 568.31 | 493.23 |
| Shareholders' Equity | 878.17 | 968.78 | 967.60 | 1,005.82 |
| Operating | 10.06 | 83.59 | 193.24 | 88.76 |
| Investing | 131.76 | -119.62 | -157.02 | -171.89 |
| Financing | -140.39 | -99.09 | -167.46 | -83.01 |
| EPS (Baht) | 0.07 | 0.14 | 0.29 | 0.29 |
| GP Margin (%) | 23.89 | 23.74 | 24.34 | 23.51 |
| NP Margin (%) | 1.67 | 3.28 | 3.43 | 3.88 |
| D/E Ratio (x) | 0.59 | 0.54 | 0.59 | 0.49 |
| ROE (%) | 6.44 | 8.85 | 7.89 | 7.93 |
| ROA (%) | 6.18 | 7.80 | 7.28 | 7.08 |
- The Group promotes reducing single-use plastic bags on International Plastic Bag Free Day by encouraging customers to bring reusable bags when shopping at iCare.
- 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 7 branches in 2026.
- The Group plans to expand its own-brand portfolio with innovative supplements, skincare products, and herbal remedies, while expanding distribution beyond its network.
Environmental Dimension
- Promoting the reduction of plastic bag usage by organizing a campaign to encourage customers to bring cloth bags when shopping at affiliated pharmacies on International Plastic Bag Free Day. This is a small step that helps reduce waste and sustainably care for the environment.
- Implemented an ERP system to reduce paper consumption and piloted the use of the e-Tax system with ready partners starting from 2024.
Social Dimension
- Organized the “Raising Healthy and Safe Children” seminar in collaboration with Singapore International School in 2025 to promote parental knowledge, disease prevention, and sustainable health for Thai families and communities.
- The company serves as an internship site for pharmacy students from various leading educational institutions to develop the potential of pharmaceutical personnel, starting from 2022.
Good Governance
- The company was certified as a member of the Private Sector Collective Action Against Corruption (CAC) for the first time in 2026.
Invests in the pharmaceutical retail business and a research and development business 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.
For 6M26, the Group reported total sales revenue of THB 1,111.89 million, down 0.56% YoY due to a broader economic slowdown and a 17.67% drop in medical device and household product sales, which normalized against a high Q2 2025 base driven by ATK demand. This contraction was partially offset by a 4.23% YoY rise in pharmaceutical and dietary supplement sales alongside a 5.42% increase in other income. However, distribution costs rose 7.49% YoY, representing a slower growth rate compared to the 20.33% increase in 2025. Administrative expenses climbed 15.17% YoY to THB 50.34 million, primarily driven by THB 5.42 million in asset write-offs and impairment provisions recorded in Q2 2026 related to the closure of the Icare pharmacy branch at Shell Phutthamonthon Sai 5 and four additional upcoming branch closures. Consequently, net profit fell 49.41% YoY to THB 18.85 million.
- As of 6M26, the Group operated a total of 72 pharmacy branches, having opened three new Pharmax branches: My Park Ramkhamhaeng 154, Branch Kaset-Nawamin, and Tha Tien. Additionally, one branch—Icare Shell Phutthamonthon Sai 5—was closed in June 2026 as part of a business restructuring effort.
- During the first 6 months, the Group launched three new products under the Prime brand: (1) Prime MG Night, (2) Prime Asta-NC Complex, and (3) Prime Immuliv.
- At the Board of Directors' Meeting No. 3/2026, the Board approved a share buyback program for financial management purposes, with a maximum budget not exceeding THB 42 million. The total number of shares to be repurchased will not exceed 6,000,000 shares (par value of THB 0.50 per share), representing up to 2.21% of the total 272,000,000 issued shares. The repurchases are being executed on the Stock Exchange of Thailand between May 15, 2026,and Nov 13, 2026.
- The Group has maintained relationships with two major manufacturers and distributors for over 30 years while continuously expanding its supplier base.
- The Group mitigates competitive risk by expanding branches in accessible Bangkok locations, with pharmacists at every branch.
- Long-standing internship programs with leading universities strengthen the Group’s pharmacist network and help mitigate staff shortages.
- 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)
| as of 30/06/26 | HL | SERVICE | mai |
|---|---|---|---|
| P/E (X) | 18.74 | 36.24 | 67.97 |
| P/BV (X) | 1.50 | 1.41 | 1.13 |
| Dividend yield (%) | 3.98 | 3.43 | 3.63 |
| 30/06/26 | 30/12/25 | 30/12/24 | |
|---|---|---|---|
| Market Cap (MB) | 1,523.20 | 1,958.40 | 2,774.40 |
| Price (B/Share) | 5.60 | 7.20 | 10.20 |
| P/E (X) | 18.74 | 23.22 | 36.14 |
| P/BV (X) | 1.50 | 1.94 | 2.85 |