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    Consumer Cyclical

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    Packaging & Containers
A.J. Plast Public Company Limited

A.J. Plast Public Company Limited

AJ-R.BK
A.J. Plast Public Company LimitedTH flagStock Exchange of Thailand
2.94
THB
- -
- -
1.75BMarket Cap
A.J. Plast Public Company Limited
AJ-R.BK
(Stock Exchange of Thailand)

Recent

price

2.94

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
15.87
15.8
12.19
12.8
15.2
14.69
16.36
18.22
18.4
16.27
17.16
20.07
19.48
17.34
15.01
13.13
12.45
Revenue per Share
2.59
2.13
0.45
-0.23
-0.59
0.01
0.29
1.05
0.04
0.56
1.26
0.92
0.06
-0.83
-1.38
-0.93
-1.07
Basic EPS, GAAP
1.35
1.01
-1.02
-2.75
-1.48
0.42
0.11
1.68
-1
0.78
1.72
0.97
-6.1
-2.25
-1.28
0.15
0.17
Free Cash Flow per Basic Share
0.57
1.01
0.09
0.14
- -
- -
- -
0.53
0.28
0.09
0.5
0.76
0.6
- -
- -
- -
- -
Dividend per Share
5.4
6
6.21
5.83
5.24
5.3
5.58
6.1
5.86
6.3
7.31
6.86
6.33
5.86
3.83
2.44
2.27
Book Value per Share
5.85
8.27
8.42
8.05
7.45
7.51
7.79
8.31
8.07
8.51
11.06
10.5
10.35
9.79
8.63
6.5
6.3
Tangible Book Value per Share
380
412
422
422
422
422
422
422
422
422
424
465
465
440
524
596
596
Basic Weighted Avg Shares
6,032
6,509
5,149
5,404
6,418
6,204
6,911
7,696
7,770
6,870
7,270
9,335
9,062
7,627
7,869
7,834
7,424
Sales/Revenue/Turnover
13.92
14.16
3.04
-0.02
-4.05
1.74
2.23
5.57
0.11
3.02
7.77
7.22
0.65
-5.77
-7.39
-4.27
-5.45
Operating Margin (%)
-1
252
224
254
311
359
385
384
389
276
305
310
307
344
452
521
531
Depreciation Expense
985
879
190
-98
-248
4
121
443
18
236
532
429
30
-367
-725
-553
-636
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
16.33
13.5
3.69
-1.81
-3.86
0.06
1.75
5.76
0.23
3.44
7.32
4.59
0.33
-4.81
-9.21
-7.06
-8.57
Profit Margin (%)
-919
-945
-682
-342
-861
-961
-744
-833
-1,986
-1,123
-751
-1,045
-1,536
-2,810
-1,415
-2,678
-2,796
Working Capital
549
17
225
2,006
2,103
2,083
2,011
1,487
983
1,604
1,840
1,687
3,932
3,922
4,449
4,289
4,152
LT Debt
2,225
3,408
3,558
3,400
3,150
3,174
3,292
3,511
3,410
3,596
4,686
4,887
4,835
4,493
4,875
4,281
4,180
Total Equity
- -
20.38
3.31
- -
- -
1.64
2.29
6.35
0.13
2.93
7.67
8.59
0.61
- -
- -
- -
- -
Return on Invested Capital (%)
- -
22.94
5.82
- -
- -
1.74
3.72
9.19
1.71
5.33
10.03
8.09
1.36
- -
- -
- -
- -
Return on Capital (%)
59.1
38.85
7.46
-3.85
-10.6
0.17
5.28
17.99
0.71
9.2
18.5
13.64
0.96
-13.29
-31.59
-31.91
-38
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3,786
3,490
3,760
LT Borrowings
3,689
3,636
3,504
LT Finance Leases
658
653
648
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
596
596
596
Market Capitalization
1,408
1,121
1,861

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
3,159
2,382
2,630
Cash, Cash Equivalents & STI
160
76
129
Accounts Receivable, Net
670
591
694
Inventories
1,628
1,532
1,630
Total Current Liabilities
5,068
5,061
5,426
Payables & Accruals
1,246
1,535
1,596
ST Debt
3,786
3,490
3,760
Deferred Revenue
37
35
70

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.57%
-1.51%
-12.19%
Free Cash Flow
19.12%
-195.28%
-113.09%
Net Income, GAAP
322.9%
-275.67%
-23.67%
Sales/Revenue/Turnover
3.03%
2.47%
-0.45%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,906
1,660
2,272
2,032
7,869
2025
2,228
1,957
1,902
1,746
7,834
2026
1,818
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
-0.2
-0.28
- -
-1.38
2025
-0.03
-0.32
-0.28
- -
-0.93
2026
-0.17
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
A.J. Plast Public Company Limited manufactures and sells biaxially-oriented plastic films and scrap products for flexible packaging applications in Thailand and internationally; its core products include Biaxially Oriented Polypropylene (BOPP) film, Biaxially Oriented Polyethylene Terephthalate (BOPET) film, Biaxially Oriented Polyamide (BOPA) film, Biaxially Oriented Poly-Lactic Acid (BOPLA) film, Cast Polypropylene (CPP) film, and metallized variants such as Metallized BOPP (MPP), Metallized BOPET (MPT), and Metallized BOPA (MPA) films, with a total production capacity of 324,500 tons per year. The company, founded in 1987 and headquartered in Bangkok, Thailand, operates primarily in the packaging industry, serving markets for food, snacks, household products, agriculture, and pet food through domestic sales and exports. In recent developments, A.J. Plast established a subsidiary, A.J. Plast (Vietnam) Co., Ltd., via a joint venture with SCG Chemicals Public Company Limited, inaugurating a BOPP production facility in Binh Duong Province in 2023 with an initial capacity of 30,000 tons annually and planning a second BOPET line for 36,000 tons per year to meet rising demand; the company also continues to expand its sustainable offerings, including increased BOPLA film capacity to address global needs for biodegradable packaging alternatives.