Simat vs Samart: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Simat Technologies Public Company Limited (SIMAT.BK)

Q3 20269 Aug – 7 Oct 2026

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Smart-grid contract wins Samart won a 1.1bn baht substation job, 260m baht in PEA transformer contracts, and a 363m baht NT backhaul contract, showing it is capturing work from Thailand's grid upgrade.
These concrete wins directly support revenue and validate the smart-grid strategy.
Ambitious backlog target Samart aims to grow its order backlog to 20bn baht from 14-16bn, and is bidding on over 10bn baht of new projects, signaling confidence in future revenue.
The raised target and active bidding indicate management's growth expectations.
Government smart-grid support Thailand's 70bn baht solar and smart-grid program and a planned 10-20bn baht smart-grid pilot create a favorable backdrop, with analysts naming Samart a likely beneficiary.
Government spending plans underpin demand for Samart's services.
Execution and timing risks Major contract wins and smart-grid budgets are still pending or early-stage, so delays in government spending or failed bids could cause the backlog target to slip.
This counterweight highlights that the positive outlook depends on uncertain future events.

September 20269 Aug – 7 Oct 2026

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Smart-grid contract wins Samart won a 1.1bn baht substation job, 260m baht in PEA transformer contracts, and a 363m baht NT backhaul contract, showing it is capturing work from Thailand's grid upgrade.
These concrete wins directly support revenue and validate the smart-grid strategy.
Ambitious backlog target Samart aims to grow its order backlog to 20bn baht from 14-16bn, and is bidding on over 10bn baht of new projects, signaling confidence in future revenue.
The raised target and active bidding indicate management's growth expectations.
Government smart-grid support Thailand's 70bn baht solar and smart-grid program and a planned 10-20bn baht smart-grid pilot create a favorable backdrop, with analysts naming Samart a likely beneficiary.
Government spending plans underpin demand for Samart's services.
Execution and timing risks Major contract wins and smart-grid budgets are still pending or early-stage, so delays in government spending or failed bids could cause the backlog target to slip.
This counterweight highlights that the positive outlook depends on uncertain future events.

Latest17 Aug – 7 Oct 2026

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Bidding on 10bn baht of new work to lift backlog SAMART is bidding on over 10 billion baht of projects in the second half, aiming to lift its backlog from about 16 billion to 20 billion baht by year-end. More signed work means more future revenue, which supports the share price.
This is the core new driver: a large pipeline of bids that could convert into future revenue and profit.
New PEA transformer contracts worth 260m baht Subsidiary TEDA signed two PEA contracts worth over 260 million baht for transformer monitoring equipment and power transformers/switchgear. These add to the backlog and will be recognized as revenue over time, supporting earnings.
A concrete new contract win that adds to backlog and future revenue.
NT backhaul network contract worth 363m baht SAMART's 99.99%-held subsidiary Samart Communication Service, in a consortium with ICN, won a 363.09 million baht NT contract to expand backhaul network capacity. SAMART's share is 54.59%, adding to its order book and future revenue.
A new contract win that directly boosts SAMART's backlog and revenue outlook.
Government solar and smart-grid budget supports demand Thailand's cabinet approved a 70 billion baht household solar and smart-grid/smart-meter program under an emergency loan decree. SAMART is named as a beneficiary, which could bring large, multi-year government orders and supports the share price.
A new government budget that expands the addressable market for SAMART's smart-grid business.

9 Aug – 24 Sep 2026

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New contract wins and 20bn baht backlog target SAMART expects to sign over 10 billion baht of new contracts in the second half, lifting its order book from 14 billion to a 20 billion baht target. It also won a 1.1 billion baht substation job. More signed work means more future revenue, which supports the share price.
This is the core new business driver showing concrete contract wins and a rising backlog.
Smart-grid and smart-meter spending pipeline SAMART is already doing about 4 billion baht of PEA smart-meter and battery work, and the government plans a 10-20 billion baht smart-grid pilot. Analysts name SAMART as a likely system integrator. This opens a large, multi-year source of government and utility orders.
It shows a new, large government spending program that directly benefits SAMART's businesses.
Analyst and macro support Yuanta named SAMART a standout stock, and Q2 GDP beat forecasts at 1.9%, with lower inflation easing rate pressure. Bualuang also flagged SAMART in the smart-grid theme. This improves investor sentiment and makes future orders more likely.
It explains the supportive market backdrop and analyst attention that help the stock.
Execution and timing risk The big contract wins and smart-grid budget are still pending or in early stages. If bids fail or government spending is delayed, the backlog target may slip. This is a real counterweight to the positive news.
It gives a fair picture by noting the main risk that could hold the stock back.