PETCHSRIVICHAI ENTERPRISE PUBLIC COMPANY LIMITED

DBS Vickers Securities Thailand said in an analysis that the Thai government is considering cutting excise taxes on biofuels to lower fuel prices and spur consumption. Currently, the excise tax on gasohol stands at 6.00 baht per litre and on biodiesel at 5.953 to 6.92 baht per litre. Raising the share of biofuels in use would help cut crude oil imports and ease the government's burden of subsidising fuel prices, with the Oil Fund now running a loss of about 100 billion baht. With demand for ethanol and biodiesel expected to rise, DBS Vickers has named 11 Thai stocks set to benefit, divided into three groups by business type. The first group is direct producers and distributors of biofuels, namely BBGI, EA, UBE, GGC and TAE. The second group is integrated palm oil producers linked to biodiesel, namely PCE, SMO, APO and VPO. The third group is sugar producers linked to ethanol, namely KSL, KTIS and BRR.

Petchsrivichai Enterprise Public Company Limited, or PCE, expects its third-quarter 2026 operating results to continue growing from an improved second quarter, supported by rising orders for B100 biodiesel, which is likely to help lift the business's profit margin. PCE executive Pornpipat Prasitsupaphol said the company currently has sufficient raw materials to feed into its biodiesel production process to meet customer demand. However, the company did not disclose order volumes or its third-quarter 2026 profit forecast in this information. Meanwhile, New Biodiesel Company Limited, or NBD, a PCE subsidiary engaged in biodiesel production, received three Green Industry Award 2026 honors at Level 5 in the Green Network category, reflecting the environmental performance of its plant and related network.

Phetchsrivichai Enterprise Public Company Limited, or PCE, reported second-quarter 2026 net profit up 59.5%, driven by higher revenue recognition from value-added products, especially biodiesel (B100) and refined bleached deodorized palm oil (RBDPO), along with strong cost control. Executive Pornpipat Prasitsupaphol said that in the second half of 2026 the company will push into the production and sale of biodiesel (B100) to serve domestic consumption under government policy, and will expand its edible palm oil production plant, expected to be completed in the fourth quarter of 2026, to capture high growth opportunities in the food industry. Meanwhile, T.A.C. Consumer Public Company Limited, or TACC, is pressing ahead in the beverage market with two new "pang yen" menu items, matcha green tea pang yen and Thai tea pang yen, to be sold at All Cafe outlets in 7-Eleven stores nationwide from August 13, 2026. Executive Chatchavee Wattanasuk expressed confidence that the new products will be well received and will help drive 2026 revenue growth of more than 10% in line with the target. Thai Reinsurance Public Company Limited, or THREL, reported second-quarter 2026 net profit surging 239% to 32 million baht, with reinsurance premiums received up 6% to 1,112 million baht and insurance operating profit jumping 69% to 59 million baht, pushing its combined ratio down to 88.8%. Chief Executive Wipol Vorasahut said he is confident 2026 results will swing back to profit as targeted. Infraset Public Company Limited, or INSET, reported second-quarter 2026 earnings of 63.66 million baht, up 652.33% from the same period a year earlier, reflecting continued growth in its data center and cloud businesses. Its board approved an interim cash dividend of 0.05 baht per share, with payment set for September 9, 2026. Managing Director Sakbovorn Pukkanasut said the outlook for the second half is bright and that the company will bid for more than 5 billion baht in new work. Euroasia Total Logistics Public Company Limited, or ETL, reported first-half 2026 service revenue of 1,083 million baht, an increase of 227.4 million baht, or 27%, from the same period a year earlier, with gross profit tripling on continued growth in trip volumes, supported by imports of electronics and data center goods and the relocation of manufacturing bases within ASEAN, according to executive Thanet Mekhintarangkoon.

Petchsrivichai Enterprise Public Company Limited, or PCE, expects total revenue for 2026 to grow 10-15% compared with the same period a year earlier, when revenue stood at 30.55 billion baht. Mr. Prakit Prasitsupphaphol, Chief Executive Officer and Managing Director, disclosed that sales in the third quarter of 2026, which falls during the rainy season, are likely to be flat compared with the second quarter of 2026, and will accelerate in the fourth quarter of 2026, the high season for economic activity, tourism, and the New Year festival. The company is confident that its gross profit margin will grow by a double-digit rate. In the first half of 2026, PCE recorded a net profit of 220.91 million baht, up 36% year on year, while in the second quarter of 2026 net profit was 214.20 million baht, up 60.2% year on year, and the gross profit margin rose to 5.4% in the first six months of 2026 from 2.0% a year earlier. This was supported by an increase in the share of high-value products, especially B100 and RBDPO. The company sells B100 according to customer orders and usage demand, with forward purchase agreements in place with Major Oil. In the production of palm cooking oil under the Rinthip brand, the company has expanded its distribution channels to cover distributors, modern trade, and modern retail outlets such as 7-Eleven, CJ More, and department stores nationwide, while also targeting Japanese restaurants, which place importance on raw material quality and food standards. The company is also closely monitoring the El Nino phenomenon, and assesses that palm output in 2027 will decline by about 10-15%. It is therefore continuing to expand palm fruit purchasing points from farmers' plantations, along with a plan to expand the phase 3 extraction plant, raising fresh palm fruit processing capacity from 150 tons per hour to 225 tons per hour and increasing CPO production capacity from 300 tons per day to 700 tons per day, so as to produce more than 900 tons of crude palm oil per day on its own. It also has a project to upgrade its refinery with CPO Washing and Double Refine technology to raise output to High-Quality RBDPO to serve the premium market, with commercial operation scheduled for the second quarter of 2027.

Phetch Srivichai Enterprise Public Company Limited (PCE) expects several supporting factors in the second half of 2026, including increased demand for B100 biodiesel following the government's policy to adjust diesel to B7 and allow B20 as an alternative, as well as the expansion of its edible palm oil production capacity from 300 tons per day to 700 tons per day, which will be completed in the fourth quarter of 2026. Additionally, the company is promoting its 'Rintip' brand to consumers through Modern Trade channels and all 7-Eleven branches. The company reported a net profit of 214.2 million baht in the second quarter of 2026, up 59.5% from the same period last year, with total revenue of 7,057.8 million baht. For the first six months, net profit was 220.9 million baht, up 36.0%, and EBITDA margin increased to 4.5% from 1.9%, reflecting a shift in product mix towards value-added products such as B100 and RBDPO, which are expected to enhance revenue quality and profitability in the long term.

Phetchasewee Enterprise Public Company Limited, or PCE, has expressed confidence that its business in the second half of 2026 will continue to grow, supported by demand for B100 biodiesel in line with government policy, and the expansion of its cooking palm oil production capacity from 300 tons per day to 700 tons per day, more than doubling output. The expansion is expected to be completed within the fourth quarter of 2026 to accommodate a growing customer base in the food industry and the distribution channels for its "Rintip" brand, which is now available at all 7-Eleven stores nationwide. Meanwhile, the company is constructing Phase 3 of its crude palm oil mill, which will increase fresh fruit bunch processing capacity from 150 tons per hour to 225 tons per hour, enabling it to produce more than 900 tons of crude palm oil (CPO) per day, with commercial production slated for the second quarter of 2027. Additionally, there is a refinery upgrade project incorporating CPO Washing and Double Refine technologies to elevate semi-refined palm oil to high-quality RBDPO, catering to the premium food market, also set for commercial operation in the second quarter of 2027. These investments are part of the company's value-enhancement plan under the Stock Exchange of Thailand's JUMP+ program, aimed at strengthening its fully integrated palm oil business chain and creating higher-value products in the long term.

Phetch Srivichai Enterprise or PCE, Thailand's leader in the integrated palm oil industry, reported net profit of 214.2 million baht for the second quarter of fiscal year 2026, up 59.5% from the same period last year, despite a 37.6% decline in sales revenue to 6,972.4 million baht. Gross profit surged 114.8% to 432.8 million baht, lifting the gross margin to 6.2% from 1.8% a year earlier. The main drivers were an increased proportion of value-added products such as B100 and RBDPO, supported by rising domestic biodiesel demand. Meanwhile, revenue from the domestic market rose to 74.9% of total revenue, up from 36.7% in the previous year. For the first six months, net profit stood at 220.9 million baht, up 36.76% from the same period last year, despite a 26.9% decline in total revenue, reflecting a value chain management strategy from upstream to downstream that helped offset the impact of lower palm fruit yields.

Petchsrivichai Enterprise Public Company Limited, or PCE, reported second-quarter net profit of 214.2 million baht, up 59.5% from the same period last year. Although total revenue fell 37.7% to 7.06 billion baht, it rose 35.6% from the previous quarter, while EBITDA margin improved to 4.5% from 1.9%, reflecting a shift in product mix toward higher value-added products such as B100 biodiesel and refined bleached deodorised palm oil, or RBDPO. The crude palm oil business was affected by lower domestic palm output. The company expects the second half to be supported by government policy making B7 the base diesel grade and B20 an alternative grade, which will boost demand for B100. It is also building a new palm oil refinery for edible oil, expected to be completed in the fourth quarter of 2026.

Petchsrivichai Enterprise Public Company Limited, or PCE, reported net profit for the second quarter of 2026 of 214,195,000 baht, up from 133,728,000 baht in the same quarter last year. For the first six months of 2026, net profit was 220,909,000 baht, compared with 161,525,000 baht in the same period of 2025. Earnings per share for the quarter were 0.078 baht, up from 0.049 baht, and for the six-month period were 0.08 baht, compared with 0.059 baht. These financial statements were reviewed by the auditor without qualification.

Petchsrivichai Enterprise Public Company Limited, or PCE, is poised to report standout second-quarter 2026 earnings, supported by higher energy prices driven by Middle East tensions and the Thai government's policy to promote biodiesel blending from B5 to B7. This benefits PCE as a major Thai biodiesel producer with its own manufacturing plants and high-margin B100 biodiesel products. Management has also kept costs well under control, leading to a significant improvement in margins.

Petcharat Sriwichai Enterprise Public Company Limited, or PCE, is actively managing its product mix to increase the share of high-margin goods, as global crude palm oil prices remain elevated at around 4,500 ringgit per tonne, equivalent to approximately 38 to 40 baht per kilogram. Domestic fresh palm fruit prices stand at about 7 baht per kilogram, while local crude palm oil prices average roughly 40 baht per kilogram. The company is leveraging its strength as a fully integrated operator spanning upstream to downstream to adjust the production mix across its energy segment, edible oil segment, and value-added products. It is also expanding its fresh palm fruit purchasing network to secure raw material supply for its mills and pushing into the edible oil market under the Rintip brand through both B2B and B2C channels. For the third quarter of 2026, the company expects performance to remain stable and similar to the second quarter, with B100 sales rising 70 to 80 percent from the previous quarter, while maintaining a gross margin in the low double-digit range.

India's edible vegetable oil imports in July 2026 rose to 1.49 million tonnes, the highest level in 10 months, according to trade estimates cited by Reuters. Domestic refiners accelerated stockpiling ahead of the key festival season from August to November, when vegetable oil demand peaks for the year. Palm oil imports jumped 50% month-on-month to 733,000 tonnes, a five-month high, while soybean oil imports rose 32% to 501,000 tonnes, a seven-month high, and sunflower oil imports increased 4% to 253,000 tonnes. Combined imports of the three major vegetable oils climbed 34% from the previous month. Sandeep Bajoria, CEO of Sunvin Group, said Indian vegetable oil refiners are rapidly building inventories after months of slow imports to prepare for festival demand. GGN Research estimates that India's soybean oil imports are likely to stay above 500,000 tonnes per month in August and September, driven by competitive global prices and lower domestic crushing volumes. Analysts view the recovery in import demand from India, the world's largest vegetable oil buyer, as a factor that will help draw down palm oil stocks in Indonesia and Malaysia, support soybean oil exports from Argentina, and potentially boost global futures prices. For Thailand, PCE, a major Thai palm oil exporter, held a 23% market share of the country's total crude palm oil exports in 2025, when Thailand exported a total of 1,227,545 tonnes of crude palm oil.

PCE has unveiled its second-half plan to drive a new round of growth after commencing full commercial operations in April 2026, marking a key turning point for the company. By unlocking space constraints and enabling nighttime production, it can better meet rising customer demand. Management is confident of a clear recovery starting from the third and fourth quarters of this year once the new plant runs at full capacity. The company has laid out a three-year revenue roadmap to reach 400 million baht, focusing on expanding existing products, penetrating the data center and medical businesses, and creating new S-curves while maintaining a strong financial position.