Indorama Ventures, or IVL, reported a second-quarter 2026 profit of 5.961 billion baht, swinging from a loss of 521 million baht a year earlier. As a result, first-half profit came to 3.145 billion baht, compared with a loss of 1.833 billion baht in the prior year. Total revenue was 245.3 billion baht, up 4 percent, and EBITDA was 29.7 billion baht, up 61 percent. The PET business benefited most from the local-for-local model, while the net debt-to-equity ratio fell to 1.56 times. The company expects the unusually strong market tailwinds in the second quarter to begin returning to normal, and it maintains its 2026 and 2028 targets. Dao Securities upgraded its recommendation to buy and raised its target price to 28 baht from 25 baht.
Indorama Ventures PCLSwings to Q2 profit, EBITDA up 61%, and analyst upgrade to buy with higher target.
