Brokers expect ICHI's revenue this year to be 8.68 billion baht, up 7.3% as expected. Management maintains its 2026 revenue target of 11-12% growth to 9 billion baht, but we use a more conservative assumption of 8.68 billion baht, +7.3% y-y, which should be achievable as forecast. The order trend remains very strong. It is expected that the machine breakdown will be fixed by September and production will return to full capacity in October, supporting faster revenue growth in the fourth quarter of this year. Partners such as Hon Chuan and Precision will begin contract manufacturing for ICHI, with Hon Chuan starting this November and Precision in 2027. The company continues to pay out 100% of profits as dividends, with an expected yield of around 7% per year, and is considering investment in new businesses.
Ichitan Group Public Company LimitedBrokers forecast revenue of 8.68 billion baht (+7.3%) and the company pays 100% of profits as dividends with ~7% yield.
