PIS shows strong profit growth for two consecutive years, buoyed by overflowing government digital contracts

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Summary · why it matters

PIS expects normalised profit in 2026 to grow 17% to 320 million baht, and accelerate 30% to 415 million baht in 2027, according to analysis by Yuanta Securities Thailand. The growth is driven by an overflowing pipeline of government auction work, with backlog at the end of the first quarter of 2026 standing at 4.4 billion baht, up 25% from the same period last year. The company targets 15% revenue growth in 2026 and plans to bid for several billion baht more in contracts in the second half of the year. In addition, PIS has begun expanding its customer base to the private sector, particularly financial institutions, through ERP project bids. If successful, this will add new revenue streams and reduce long-term reliance on government work.

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